First Capital Realty Completes Cross-border Placement

On August 28, 2003, First Capital Realty Inc. completed a cross-border private placement of shares, raising approximately $35 million. The transaction was the second in a series of private placements, along with a corporate finance strategy that included the redemption of certain publicly traded debentures in exchange for the issuance of new common shares, effective October 30, and a warrant financing under a shelf prospectus that was completed on September 2. In aggregate, First Capital raised more than $113 million in new common share capital through these transactions.

First Capital Realty was represented by Torys LLP, with a team that included Pat Koval, Jeremy Fraiberg and Cornell Wright, and assisted by Andy Beck, Alexandra Kau and Hilary Paterson in the US. Desjardins Securities Inc., the exclusive private placement agent and financial advisor in both of the private placements, was represented by Goodmans LLP, with a team that included David Matlow and Jeffrey Singer.