Doidge Building Centres Ltd. & Mahood Lumber Company will now bear the RONA banner on its six locations in Ontario

Doidge Building Centres Ltd. & Mahood Lumber Company joins the RONA network with six locations in Kincardine, Miller Lake, Bracebridge, Bradford, Welland and Fort Erie

Boucherville (Québec), 2017-Nov-29 — /EPR Retail News/ — Lowe’s Canada is proud to announce that a new affiliate dealer, Doidge Building Centres Ltd. & Mahood Lumber Company Limited, has joined its network and will now bear the RONA banner on its six locations in Ontario.

Previously associated with a competing banner for over 20 years, the six stores vary in size from 6,000 square feet to 16,000 square feet of retail and yard sizes ranging from 2.5 acres to 12 acres per store. All locations have a strong mix of retail and back end PRO business.

Owner Dennis Doidge explains his reasons for the change: “Our decision to change banners was based on the fact that we felt we were falling behind in the areas of e-commerce, marketing and branding. After careful consideration and discussions with all the major buying groups in the industry, we concluded that RONA was the one company that could give us the tools we need to better compete in this ever changing industry”.

Dennis and his wife Kathryn purchased the Miller Lake location in 1997 and since then have added five locations to their business. “The synergies between the six stores work very well. Whether it is shared trucking, purchasing or staffing, the efficiencies are there. We look forward to working with RONA to continue my expansion into additional stores and new markets”.

The entire management team takes great pride in the fact that the Kincardine location is a past recipient of the Hardlines “Outstanding Retailer Award” for Best Building Supply Home Centre Under 10,000 square feet.

“We are very happy to see that RONA not only brings us the branding we require, but also allows us our independence. This will enable us to compete on a national and regional basis. We look forward to the positive changes with our stores as RONA assists us to move into the future of retailing”.

“We are horoured to welcome Doidge Building Centres & Mahood Lumber Company, allowing us to expand our RONA network of independent affiliated dealers. Their dedication to the business and their retail focus is a strong asset and we are proud they chose the RONA banner to pursue their development and future expansion projects,” mentioned Philippe Element, Divisional Vice President, RONA Affiliate Dealer Sales and Services.

About RONA

Created in 1939, RONA is a banner of Lowe’s Canada, one of Canada’s leading home improvement company. Spanning the entire country, its vast network of more than 430 stores includes both corporate stores and independent affiliated dealers. Known for its large in-store and online product selection as well as for its installation services, RONA also provides expert support and advice to its retail and pro customers for their building and renovation projects. For more information, visit rona.caor follow us on TwitterFacebook, and Instagram.

About Lowe’s Canada

Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 17 million customers a week in the United States, Canada and Mexico. With fiscal year 2016 sales of $65.0 billion, Lowe’s and its related businesses operate or service more than 2,370 home improvement and hardware stores and employ over 290,000 people. Based in Boucherville, Quebec, Lowe’s Canadian business, together with its wholly owned subsidiary, RONA inc., operates or services more than 600 corporate and independent affiliate dealer stores in a number of complementary formats under different banners. These include Lowe’s, RONA, Réno-Dépôt, Marcil, Dick’s Lumber and Ace. In Canada, the companies have more than 25,000 employees, in addition to nearly 5,000 employees in the stores of RONA’s independent affiliate dealers. For more information, visit Lowes.ca.

For more information, please contact:

Valérie Gonzalo
Lowe’s Canada
Tel 514.626.6976
media@rona.ca
www.lowes.ca

Source: Lowe’s Companies, Inc.

Giant Tiger opens new store in Brampton, Ontario

OTTAWA, 2017-Nov-07 — /EPR Retail News/ — On Saturday November 4th, Giant Tiger will celebrate the official opening of a new store in Brampton, Ontario.

The brand new 25,300 square foot Giant Tiger will be located at 499 Main Street South, Unit 123. Giant Tiger stores are stocked with affordable, on-trend home and family fashions, brand-name groceries, and everyday necessities at low prices. Giant Tiger is committed to saving Canadians time and money through our lower prices, flyer program, and our ad match guarantees. For you. For less. Every day!

The grand opening will be a fun-filled day with plenty of free activities for customers of all ages, including a charity BBQ, strolling entertainment, free face painting, promotional and gift card giveaways, and of course, a visit from Friendly, the Giant Tiger. There will also be Giant Value product sampling for all to enjoy.

As a community proud retailer, Giant Tiger Stores Limited and store manager Marco Costa will be making a charitable donation to support the Peel Children’s Aid Foundation and the store will be hosting a charity BBQ with proceeds going to the local Knights Table.

For more information regarding the grand opening plans, visit the store’s Facebook page at: www.facebook.com/GTBrampton/

WHAT: Giant Tiger Brampton Grand Opening
WHERE: 499 Main Street South, Unit 123
WHEN:Saturday November 4, 2017
7:30 a.m.: Speeches, ribbon-cutting and charitable recipient’s presentation
8:00 a.m.: Giant Tiger Brampton officially opens
10:00 a.m. – 2:00 p.m.: Charity-run BBQ for Knights Table
9:30 a.m. – 3:30 p.m.: Strolling entertainment
10:00 a.m. – 2:00 p.m.: Giant Value food sampling

About Brampton’s newest Giant Tiger:

  • 25,300 square feet
  • Hours of operation: Monday to Saturday 8:00 a.m. – 9:00 p.m., Sunday 9:00 a.m. – 6:00 p.m.

About Giant Tiger
Giant Tiger is the leading Canadian-owned family discount store, committed to providing on-trend family fashions, groceries and everyday household needs. Known as Canada’s best-kept secret, the privately held company has over 235 locations across Canada and employs over 8,000 team members. You can also shop online at gianttiger.com.  All Giant Tiger locations are locally owned or operated by a team member who knows the community. The friendly stores with the iconic yellow logo are not only where Canadians shop more and spend less, but also are proud to be known as retailer of choice. #ForYouForLess #GTCommunityProud #GTCanadaProud

Join the conversation and keep up to date on all Giant Tiger news:
Like us on Facebook: Giant Tiger
Follow us on Instagram:  @Gianttigerstore

Follow us on Twitter: @GTBoutique
Subscribe to our YouTube channel: Giant Tiger Store

For further information: For media inquiries contact:
Alison Scarlett
Manager
Brand Communications
email: ascarlett@gianttiger.com

SOURCE: Giant Tiger Stores Limited

RioCan REIT enters into agreement with Sears Canada for its locations at RioCan Oakville Place, Ontario and Garden City Shopping Centre in Manitoba

TORONTO, 2017-Oct-06 — /EPR Retail News/ — RioCan Real Estate Investment Trust(“RioCan”) (TSX:REI.UN) is pleased to announce that it has entered into agreements with Sears Canada Inc. (“Sears”), which received court approval on October 4, 2017. Sears is currently subject to restructuring proceedings under the Companies’ Creditors Arrangement Act (“CCAA”). RioCan and its co-owner Hudson Bay Company (“HBC”) have secured a surrender agreement with Sears for its location at RioCan Oakville Place, in Oakville, Ontario for a fee of $4 million (at 100%). In addition, at Garden City Shopping Centre in Winnipeg, Manitoba, RioCan and its co-owner Bayfield Realty Advisors (“Bayfield”) have entered into an agreement to purchase the freehold interest in the Sears location for a purchase price of $8 million (at 100%).

RioCan Oakville Place
RioCan and HBC have entered into an agreement with Sears to secure a lease surrender, for a fee of $4 million (at 100%). The property is co-owned through RioCan’s joint venture with HBC on a 50/50 basis. In the approximately 104,000 square feet formerly leased by Sears, RioCan has the option for a 40,000 square foot Saks Off Fifth, which it is considering among other alternatives. The partners are also in discussions with other national tenants to take the remainder of the space. The new leases when completed will provide significantly more rental income than what was generated previously through the lease arrangement with Sears. These new and exciting tenants will also serve to improve the appeal of RioCan Oakville Place and attract a wider range of shoppers.

Over the past three years, RioCan Oakville Place has undergone an extensive $40 million renovation that includes a modernization of the interior common areas and exterior improvements at the centre; renovation of the Hudson Bay store that anchors the site; replacement of the parking deck; and the introduction of fresh new retailers including Pusateri’s Fine Foods, Sephora, and Pandora.

RioCan’s Oakville Place is a two level regional mall containing approximately 470,000 square feet of gross leasable area situated on a 29 acre site, located adjacent to and directly off of Queen Elizabeth Way (“QEW”), the major highway running through Ontario’s “Golden Horseshoe”, in Oakville, Ontario. The mall is well connected to local transit infrastructure and within close proximity to the Oakville Go Train station. Oakville is a fast growingcommunity with a strong, diversified economic base, and possesses one of Canada’s highest income demographics with an average household income statistic that is well above the national average.

In connection with the lease surrender, the partners will now be free to pursue future intensification possibilities at the site as the agreement eliminates the development restrictions that were part of the Sears lease agreement. With few development locations available in Oakville, it represents a significant opportunity to create additional value on the site with the potential significant additional density.

Garden City Shopping Centre
RioCan and its co-owner Bayfield have entered into a firm agreement to acquire the freehold interest in the Sears location at Garden City Shopping Centre in Winnipeg, Manitoba at a purchase price of $8 million (at 100%). The partners own the site on a 30% RioCan 70% Bayfield basis. RioCan provides property and asset management services for the property.

Located in Winnipeg’s Garden City neighbourhood, the Garden City Shopping Centre is home to 85 retailers and includes major national tenants such as Canadian Tire, Winners, Dollarama, and Goodlife Fitness. The centre is currently undergoing a $9 million renovation by the partners that will incorporate an expanded food court dining area, larger bathrooms and additional comfort seating within the mall as well as improvements to the energy efficiency of the centre.

The former Sears location is approximately 92,500 square feet and by acquiring the site the partners will secure control over the entirety of the site and the access points to the shopping centre. In addition, it will simplify the ownership structure of the property should the partners seek redevelopment opportunities at the location.

ABOUT RIOCAN
RioCan is Canada’s largest real estate investment trust with a total enterprise value of approximately $13.9 billion as at June 30, 2017. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. Our portfolio is comprised of 299 properties, including 15 development properties, with an aggregate net leasable area of approximately 45 million square feet. To learn more about how we deliver real vision on solid ground, visit www.riocan.com.

FORWARD LOOKING INFORMATION
This news release contains forward-looking information within the meaning of applicable Canadian securities laws. This information includes, but is not limited to, statements concerning the acquisition of the former Sears locations at Oakville Place and Garden City Shopping Centre, as well as statements with respect to management’s beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events or expectations that are not historical facts. Forward-looking information generally can be identified by the use of forward-looking terminology such as “may”, “will”, “would”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “plan”, or similar expressions suggesting future outcomes or events. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. All forward-looking information in this News Release is qualified by these cautionary statements.

Forward-looking information is not a guarantee of future events or performance and, by its nature, is based on RioCan’s current estimates and assumptions, which are subject to numerous risks and uncertainties, as described under “Risks and Uncertainties” in RioCan’s Management’s Discussion and Analysis for the period ended June 30, 2017 (“MD&A”) and the Trust’s most recent Annual Information Form, and including that the transactions contemplated herein are completed, which could cause actual events or results to differ materially from the forward-looking information contained in this News Release. Although the forward looking information contained in this News Release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. Certain statements included in this News Release may be considered “financial outlook” for purposes of applicable securities laws, and such financial outlook may not be appropriate for purposes other than this News Release.

Except as required by applicable law, RioCan undertakes no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Information Contact:

RioCan Real Estate Investment Trust
Qi Tang
Senior Vice President and Chief Financial Officer
416-866-3033

Source: RioCan Real Estate Investment Trust

Solar Brokers Canada and Lowe’s Canada to provide solar energy installation services to homeowners throughout Ontario

TORONTO (ON) and BOUCHERVILLE (QC), 2017-Aug-16 — /EPR Retail News/ — Solar Brokers Canada, one of the largest residential solar providers in Canada, its affiliate Green Lion Eco Group, a solar engineering and project management company, and Lowe’s Canada, a leading home improvement company operating more than 600 stores in Canada under different banners, today (August 14, 2017) announced the creation of Lowe’s Solar, an exclusive partnership to provide solar energy installation services to homeowners throughout the province of Ontario, Canada.

After the completion of a successful pilot program in select Lowe’s stores in the Toronto area, Ontario customers now have the opportunity to meet with trained solar consultants at all Lowe’s retail locations across the province to review feasibility scenarios for their home, learn about available Ontario government incentives and how solar energy can make their lives better, all while helping reduce their environmental footprint. These solar consultations will be facilitated using interactive digital display kiosks that provide insight into a solar installation.

“This initiative with our partners from Lowe’s Canada is a natural fit. Efficient renewable energy technologies are the next step and an integral part of sustainable home improvements,” said J.C. Awwad, Chief Executive Officer at Solar Brokers Canada. “We are confident that this partnership will make top quality solar solutions accessible to many more homeowners throughout the province.”

“Solar energy is increasingly important in Ontario. Through this partnership with Solar Brokers Canada, Lowe’s is now in a unique position to provide a simple one-stop solution for Ontario customers looking for renewable energy solutions and convenient in-home installation options while also adding value to their homes,” said Malcolm Parks, Divisional Vice President, Operations at Lowe’s in Canada.

This exclusive partnership expands Solar Brokers Canada’s market reach across Ontario, while also supporting Lowe’s Canada’s efforts to help its customers reduce the environmental impact of their home renovation and construction projects.

About Solar Brokers Canada Corp.
Solar Brokers Canada Corp. is one of the largest solar providers in Canada and the first residential solar brokerage in the country. Since its founding in 2012, the company has experienced revenue growth of over 8900%. To date the company has brokered over 30 megawatts of residential solar in Ontario. Based in Toronto, Solar Brokers Canada and its affiliate companies, oversee a staff of over 100 industry-leading professionals. Through proprietary tools, including state of the art project management and customer relationship management software and lead-generating interactive digital display kiosks, Solar Brokers Canada is redefining how consumers adopt residential solar.

For more information, visit solarbrokerscanada.com

About Lowe’s Canada

Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 17 million customers a week in the United States, Canada and Mexico. With fiscal year 2016 sales of $65.0 billion, Lowe’s and its related businesses operate or service 2,365 home improvement and hardware stores and employ over 290,000 people. Based in Boucherville, Quebec, Lowe’s Canadian business, together with its wholly owned subsidiary, RONA inc., operate or service over 600 corporate and independent affiliate dealer stores in a number of complementary formats under different banners. These include Lowe’s, RONA, Réno-Dépôt, Marcil, Dick’s Lumber and Ace. In Canada, the companies have more than 25,000 employees, in addition to nearly 5,000 employees in the stores of RONA’s independent affiliate dealers. For more information, visit Lowes.ca.

For more information, please contact:

Media Relations:
Lowe’s Canada – RONA
Tel 514.599.5900 ext 5271
media@rona.ca

Solar Brokers Canada
Riley Wallace
Marketing Manager
Tel (800) 332.9395 Ext. 301
r.wallace@solarbrokerscanada.com

Source: Lowe’s Companies, Inc.

Lowe’s Canada: Gloucester RONA Home and Garden store in Ontario to convert to the Lowe’s banner

Boucherville, QC, 2017-Aug-16 — /EPR Retail News/ — Lowe’s Canada announced today (August 14, 2017) that its Gloucester RONA Home and Garden store in Ontario will convert to the Lowe’s banner. The Gloucester store, located at 1880 Innes Road, will undergo an extensive renovation and re-merchandising of the existing store which is expected to be completed by the end of 2017.

Starting on August 14, 2017, the Gloucester store will undergo an extensive 16-week physical transformation to the new model of Lowe’s stores in Canada which will involve construction, departmental sequencing of new racking and re-merchandising, branding and IT conversion. As well, Lowe’s is investing in its people with extensive employee training focused on new product knowledge and customer service.

“The store will remain open during the conversion and we are committed to minimizing any impact on customers so that we can continue to offer the best shopping experience possible during the store transformation,” confirmed Guy Beaumier, Interim Executive Vice President, Lowe’s Canada Big Box Retail.

Customers of the Gloucester store can look forward to an enhanced shopping experience including expanded assortment and access to well-known brands such as Kohler, John Deere and Whirlpool, as well as the introduction of new categories such as appliances. Lowe’s also features established private label brands such as Kobalt and Allen & Roth, which offer great quality at affordable prices. In addition, Lowe’s has strong seasonal programs for its Patio and Holiday collections, top of the line installation programs across many categories, protection plans for products such as appliances, tools and outdoor power equipment, and a superior online program which includes Click & Collect for in-store pickup, local truck delivery and parcel shipping.

The new store will also offer an enhanced shopping experience for Commercial customers including the introduction of the Contractor Rewards Program, access to a drive through lumber yard and charge accounts that will allow them to make purchases at any RONA Corporate store in Ontario, as well as new model Lowe’s stores with only ‘one’ monthly invoice for all purchases made from these stores. Enhanced assortment in key contractor categories include lumber, building materials, millwork, tools and hardware.

The new Gloucester Lowe’s will feature 74,965 square feet of retail sales space, an adjacent Garden Centre with 25,942 square feet, as well as an outdoor lumber yard with 30,000 square feet and a covered (drive-thru) lumber yard with 25,580 square feet. The store will employ more than 150 permanent jobs and approximately 35 seasonal positions, and is currently looking to hire an additional 35 permanent and seasonal employees. Interested candidates can visit www.lowes.ca/careers for more information and to apply.

About Lowe’s Canada

Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 17 million customers a week in the United States, Canada and Mexico. With fiscal year 2016 sales of $65.0 billion, Lowe’s and its related businesses operate or service 2,365 home improvement and hardware stores and employ over 290,000 people. Based in Boucherville, Quebec, Lowe’s Canadian business, together with its wholly owned subsidiary, RONA inc., operate or service over 600 corporate and independent affiliate dealer stores in a number of complementary formats under different banners. These include Lowe’s, RONA, Réno-Dépôt, Marcil, Dick’s Lumber and Ace. In Canada, the companies have more than 25,000 employees, in addition to nearly 5,000 employees in the stores of RONA’s independent affiliate dealers. For more information, visit Lowes.ca.

For more information, please contact:

Media Relations:
Lowe’s Canada – RONA
Tel 514.599.5900 ext 5271
media@rona.ca

Source: Lowe’s Companies, Inc.

RioCan Real Estate Investment Trust commences development at Windfields Farm in Oshawa, Ontario

TORONTO, ONTARIO, 2017-May-29 — /EPR Retail News/ — RioCan Real Estate Investment Trust (“RioCan”) (TSX:REI.UN) is pleased to announce that is has commenced development at Windfields Farm in Oshawa, Ontario with its partner Tribute Communities (“Tribute”).

In 2015, RioCan announced that it had formed a joint venture with Tribute to develop a residential project on a 30 acre parcel of land at RioCan’s Windfields Farm property. The overall Windfields Farm site contains approximately 116 acres of developable land in the Greater Toronto Area suburb of Oshawa, Ontario. The site is located adjacent to the recently expanded Highway 407, near the University Of Ontario Institute Of Technology, and Durham College. The current plans include as much as 50 acres of residential development and 66 acres of commercial development.

Servicing of the subdivision has begun and registration is expected to be received in the second quarter of 2017, with delivery of approximately 551 townhomes to commence in 2018 in three phases. Occupancy of the first phase of 169 townhomes, of which 166 are sold, is expected to begin during the fourth quarter of 2018. Purchasers in the second phase of 119 townhomes are expected to take occupancy during the second quarter of 2019, and purchasers of the third phase of 261 townhomes taking occupancy in the fourth quarter of 2019. There is also zoning in place for two twelve storey residential buildings that are included in the joint venture to which RioCan and Tribute are considering alternative scenarios. Tribute is providing marketing, development and construction services on behalf of the joint venture for the residential development of the site.

There are further opportunities on 20 acres of land on the site on which the partners are currently contemplating additional residential development. RioCan intends to develop a portion of the site to include a retail component that will service the residential lands and surrounding community with development anticipated to commence in 2018.

“This is a prime example of the multitude of opportunities within our portfolio that allow us to create substantial value and generate real and reliable cash flow for our unitholders. The pipeline of intensification projects underway, approved, in the approval process, as well as potential intensification projects provides us with the ability to grow the value and the cash flow of RioCan over the next ten years. We have the entrepreneurial spirit to seize these opportunities and the resources to ensure successful execution,” added Mr. Sonshine. “Sites, such as Windfields Farm, represent considerable land area that enable RioCan to build and shape communities and add to the urban landscape of Canada’s largest cities. Projects like Sunnybrook Plaza, and others in our pipeline are transit oriented developments that address the needs of municipalities for increased density and enhanced community development near transit infrastructure projects. These are significant investments for RioCan, and we remain a part of these communities, so as community stewards we have a responsibility to do it right.”

In total, RioCan has currently identified nearly 50 properties that it considers to be strong possible intensification opportunities, all of which are in the six major markets and are typically located in the vicinity of substantial transit infrastructure. These locations will provide a deep pipeline of development opportunities for RioCan as it redevelops and intensifies these properties to enhance future cash flow growth and diversify the Trust’s sources of rental revenue. Our development plans will be implemented in a prudent manner so as to manage the balance sheet and the cash flows of the Trust in order to maintain our growth targets for the business. Furthermore, as Canada’s major markets continue to grow and improve transit infrastructure, additional opportunities will present themselves.

Forward-Looking Information

This news release contains forward-looking statements within the meaning of applicable securities laws. These statements include, but are not limited to, statements made in this News Release related to the Trust’s development project at Windfields Farm, the timing of residential completions, and comments related to the timing of other commercial development on the site, together with other statements concerning RioCan’s objectives, its strategies to achieve those objectives, as well as statements with respect to management’s beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “would”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plan”, “continue”, or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management. All forward-looking statements in this News Release are qualified by these cautionary statements.

Forward-looking information is not a guarantee of future events or performance and, by its nature, is based on RioCan’s current estimates and assumptions, which are subject to numerous risks and uncertainties, including those described under “Risks and Uncertainties” in RioCan’s Management’s Discussion and Analysis for the period ended March 31, 2017 (“MD&A”) and the Trust’s most recent Annual Report and Annual Information Form, which could cause actual events or results to differ materially from the forward-looking information contained in this News Release.

Management undertakes no obligation, except as required by applicable law, to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Management undertakes no obligation, except as required by applicable law, to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

About RioCan

RioCan is Canada’s largest real estate investment trust with a total enterprise value of approximately $14.6 billion as at March 31, 2017. RioCan owns and manages Canada’s largest portfolio of shopping centres with ownership interests in a portfolio of 300 Canadian retail and mixed use properties, including 15 properties under development, containing an aggregate net leasable area of 46 million square feet. For the past 25 years, we have shaped the future, sensibly cultivated growth, and taken our stakeholders and partners wherever they needed to go. Currently, we have more than 6,200 tenants and 700 employees with a presence from coast to coast. We know that there is a home for every retailer. Whether we find it today or build it for tomorrow, we deliver real vision, solid ground. For more information, visit www.riocan.com.

Contact Information:
RioCan Real Estate Investment Trust
Edward Sonshine, O. Ont., Q.C.
Chief Executive Officer
(416) 866-3018
www.riocan.com

Source: RioCan

Joint venture to develop residential community at Gloucester City Centre in Ottawa, Ontario

TORONTO, ONTARIO and HALIFAX, NOVA SCOTIA, 2017-Apr-26 — /EPR Retail News/ — RioCan Real Estate Investment Trust (“RioCan”) (TSX:REI.UN) and Killam Apartment Real Estate Investment Trust (“Killam”) (TSX:KMP.UN) are pleased to announce the formation of a joint venture to develop a rental residential community at Gloucester City Centre in Ottawa, Ontario.

On April 21, 2017, Killam acquired a 50% interest in a discrete 7.1 acre development site located adjacent to RioCan’s Gloucester Silver City Shopping Centre, in the east end of Ottawa. The purchase price for Killam’s 50% interest is $8 million ($16 million at 100%). RioCan and Killam each own a 50% interest in the land and will participate on the same basis in the costs to develop the project. RioCan will act as the development manager, and upon completion, Killam will act as the residential property manager.

The site has zoning approval for a total of four residential towers containing up to an aggregate of 840 units. The first phase of the development will include a 217,000 square foot, 23-storey tower containing approximately 222 units. This leading edge development will maximize efficiency with the incorporation of a geothermal energy system for the building’s heating and cooling. Site work has commenced and occupancy is anticipated in mid-2019. Located adjacent to RioCan’s Silver City Gloucester retail centre and Ottawa’sLight Rail Transit (LRT) Blair Station on the Confederation Line East, the development is easily accessible to many retail, entertainment and transit options.

“We are very pleased to partner with Killam on our first rental residential development in Ottawa. Killam’s experience and management expertise in the rental residential segment will ensure the success of this development project,” said Edward Sonshine, Chief Executive Officer of RioCan. “This rental residential development along the expanding Confederation LRT line is a prime example of the opportunities that RioCan has to extract additional value and cultivate new sources of cash flow from our portfolio of transit oriented urban locations.”

“This joint venture is an exciting opportunity for Killam,” noted Philip Fraser, Killam’s President and Chief Executive Officer. “It aligns with Killam’s growth strategy of developing high-quality properties and diversifying geographically, with an emphasis on next generation operating systems and building features. Partnering with RioCan provides Killam the opportunity to participate in a four-phase apartment complex located next to both modern transit and amenities, and to grow our Ontario portfolio.”

“Despite recently announced expanded rent control guidelines in Ontario to include apartments built after 1991, new apartment development continues to be a sound strategy,” continued Mr. Fraser. “The all-cash yield on this project is expected to be well above the return achievable in today’s acquisition market. This is expected to translate into net asset value creation for Killam’s unitholders upon completion of the project. In addition, with an expected net operating margin of approximately 70%, compared to 55% to 60% for many older assets, the property’s exposure to increased operating costs is limited, and its long-term net operating income growth potential is enhanced. Finally, with no deferred capital, the net cash flow from the project is expected to be stable and predictable.”

About RioCan

RioCan is Canada’s largest real estate investment trust with a total enterprise value of approximately $14.6 billion as at December 31, 2016. RioCan owns and manages Canada’s largest portfolio of shopping centres with ownership interests in a portfolio of 300 Canadian retail and mixed use properties, including 15 properties under development, containing an aggregate net leasable area of 47 million square feet. For further information, please refer to RioCan’s website at www.riocan.com.

About Killam Apartment REIT

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada’s largest residential landlords, owning, operating and developing multi-family apartments and manufactured home communities. Killam’s current portfolio includes $2.0 billion in real estate assets. Killam’s strategy to maximize its value and long-term profitability includes concentrating on three key areas of growth: 1) increasing the earnings from its existing portfolio, 2) expanding its portfolio and diversifying geographically through accretive acquisitions, with an emphasis on newer properties, and 3) developing high-quality properties in its core markets.

Forward Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian securities laws. This information includes, but is not limited to, statements made with respect to RioCan’s and Killam’s development program, their joint venture, the ability of the joint venture to complete the development project, and other statements concerning RioCan’s and Killam’s objectives, their strategies to achieve those objectives, as well as statements with respect to their respective management’s beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “would”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plan”, “continue”, or similar expressions suggesting future outcomes or events. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. All forward-looking information in this News Release is qualified by these cautionary statements.

Forward-looking information is not a guarantee of future events or performance and, by its nature, is based on RioCan’s or Killam’s current estimates and assumptions, which are subject to numerous risks and uncertainties, including those described under “Risks and Uncertainties” in both RioCan’s and Killam’s Management’s Discussion and Analysis (“MD&A”) for the year ended December 31, 2016, and their most recent Annual Information Forms, which could cause actual events or results to differ materially from the forward-looking information contained in this News Release. Those risks and uncertainties include, but are not limited to, those related to: liquidity in the global marketplace associated with current economic conditions; tenant concentrations and related risk of bankruptcy or restructuring (and the terms of any bankruptcy or restructuring proceeding), defaults, including the failure to fulfill contractual obligations by the tenant or a related party thereof; retailer competition; access to debt and equity capital; interest rates and financing risk; joint ventures and partnerships; the relative illiquidity of real property; development risk associated with construction commitments, project costs and related approvals; environmental matters; occupancy levels; unexpected costs or liabilities related to acquisitions or dispositions; legal matters; reliance on key personnel; income taxes; the conditions to the transactions not being satisfied resulting in the failure to complete some or all of the proposed transactions described herein; lack of availability of acquisition or disposition opportunities for the Trust and exposure to economic, real estate and capital market conditions in North America. Although the forward looking information contained in this News Release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. Certain statements included in this News Release may be considered “financial outlook” for purposes of applicable securities laws, and such financial outlook may not be appropriate for purposes other than this News Release.

The Income Tax Act (Canada) contains provisions which potentially impose tax on publicly traded trusts (the SIFT Provisions). However, the SIFT Provisions do not impose tax on a publicly traded trust which qualifies as a REIT. RioCan and Killam both currently qualify as real estate investment trusts for Canadian tax purposes and intends to qualify for future years. Should this not occur, certain statements contained in this News Release may need to be modified.

Except as required by applicable law, neither RioCan nor Killam undertake any obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Contact Information:
RioCan REIT
Edward Sonshine, O. Ont., Q.C.
Chief Executive Officer
(416) 866-3018

Killam Apartment REIT
Philip Fraser
President & CEO
(902) 453-4536
pfraser@killamreit.com

Source: RioCan

New Nordstrom Rack at Heartland Town Centre in Mississauga, Ontario to open in fall 2018

SEATTLE, 2017-Jan-11 — /EPR Retail News/ — Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today (Jan. 10, 2017) plans to open a Nordstrom Rack at Heartland Town Centre in Mississauga, Ontario. The approximately 35,000-square-foot store is scheduled to open in fall 2018. The property is owned and managed by Orlando Corporation.

The new Nordstrom Rack at Heartland Town Centre will join Costco, Loblaws, Marshalls, Winners, H&M and more. The center is west of downtown Toronto and located conveniently off of Highway 401, and the new store will be at the intersection of Mavis Road and Britannia Road.

Nordstrom Rack is the off-price retail division of Nordstrom, Inc., offering customers a wide selection of on-trend apparel, accessories and shoes at an everyday savings of 30-70 percent off regular prices. Nordstrom Rack merchandise, available at Rack stores and at Nordstromrack.com, comes from Nordstrom stores, Nordstrom.com as well as specially purchased items from many of the top brands available at Nordstrom. The Rack is designed to provide the ultimate treasure hunt to style-savvy customers.

“We’re excited to announce our third location in the greater Toronto area, in addition to our previously announced locations at One Bloor and Vaughan Mills,” said Geevy Thomas, president of Nordstrom Rack. “We look forward to offering folks southwest of the city a convenient location to shop with us, and customers can expect a great selection of the brands at great Rack prices when we open our doors in 2018.”

“Nordstrom Rack will provide outstanding brand strength and strong merchandise selection to Heartland Town Centers’ existing retail mix,” said Phil King, President of Orlando Corporation. “We are pleased they selected Heartland Town Centre as a partner in their Canadian expansion.”

Nordstrom first announced plans to expand to Canada in 2012 and to date has opened five full-line stores: in Calgary at CF Chinook Centre on September 19, 2014, CF Rideau Centre in Ottawa on March 6, 2015, CF Pacific Centre in Vancouver on September 18, 2015, CF Toronto Eaton Centre on September 16, 2016, and Yorkdale Shopping Centre on October 21, 2016. The company will open an additional full-line store in the Toronto area at CF Sherway Gardens in fall 2017. Nordstrom Rack Vaughan Mills and One Bloor will open in Toronto in spring 2018.

About Nordstrom
Nordstrom, Inc. is a leading fashion specialty retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 349 stores in 40 states, including 123 full-line stores in the United States, Canada and Puerto Rico; 215 Nordstrom Rack stores; two Jeffrey boutiques; and two clearance stores. Additionally, customers are served online through Nordstrom.com, Nordstromrack.com and HauteLook. The company also owns Trunk Club, a personalized clothing service serving customers online at TrunkClub.com and its seven clubhouses. Nordstrom, Inc.’s common stock is publicly traded on the NYSE under the symbol JWN.

About Heartland Town Centre
Heartland Town Centre, one of Canada’s largest and most successful Power Centres offers over 180 stores and services for the ultimate shopping experience. With over 2 million square feet of retail space, the Centre has Canada’s most successful mix of retailers including; Best Buy, Banana Republic, H&M, HomeSense, JYSK, Harry Rosen Outlet, Marshalls, Petsmart, The Brick, Tommy Hilfiger, Wal-Mart, Winners, and many more! The Centre is conveniently located off the 401 at the corner of Mavis Road and Britannia Road.

“Everything You Need Is Here”

About Orlando Corporation
Orlando Corporation is Canada’s largest privately-owned industrial real estate developer and landlord. As a multi-faceted real estate company, Orlando is involved in a wide range of real estate investments and activities. In the Greater Toronto Area, Orlando has built a critical mass of properties and are able to offer tenants a complete range of property types and premium locations. Orlando owns, leases, and manages over 40 million square feet of industrial, office, and retail property. The scale and diversity of their tenant base provides a stable and secure source of rental income.

MEDIA CONTACTS:
Jessica Canfield
Nordstrom, Inc.
(206) 303-4250
Jessica.Canfield@nordstrom.com

Paola Caldaroni
Orlando Corporation
905-677-5480
Caldaronip@orlandocorp.com

SOURCE: Nordstrom, Inc.

Nordstrom Rack to open at The Ottawa Train Yards in Ontario on fall 2018

SEATTLE, 2016-Aug-25 — /EPR Retail News/ — Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today (Aug. 23, 2016) plans to open a Nordstrom Rack at The Ottawa Train Yards in Ottawa, Ontario. The approximately 35,000-square-foot store is scheduled to open in fall 2018. The property was developed by, and it is owned and managed by The Ottawa Train Yards Inc.

The store will be located just east of downtown in the former rail yard turned shopping centre. Nordstrom Rack will join Marshall’s, Winner’s, Bed Bath & Beyond, SAIL, Golf Town, DSW, and Shepherds Fashions as well as many other fashion and home furnishings retailers.

Nordstrom Rack is the off-price retail division of Nordstrom, Inc., offering customers a wide selection of on-trend apparel, accessories and shoes at an everyday savings of 30-70 percent off regular prices.Nordstrom Rack merchandise, available at Rack stores and at Nordstromrack.com, comes from Nordstrom stores, Nordstrom.com as well as specially purchased items from many of the top brands available at Nordstrom. The Rack is designed to provide the ultimate treasure hunt to style-savvy customers.

“It has been a pleasure getting to know customers in Ottawa since we opened our doors at Rideau Centre in 2015,” said Karen McKibbin, president of Nordstrom Canada. “We’re excited to offer customers a new way to shop with Nordstrom and bring them more of the great brands they love at great prices.”

“We are very excited to have Nordstrom Rack joining our offering of more than 75 stores and more than 800,000 sq. ft. of retail area in the largest open-air shopping district in Ottawa,” said Marty Koshman, President of The Ottawa Train Yards Inc.

Nordstrom first announced plans to expand to Canada in 2012 and to date has opened three full-line stores in Calgary at CF Chinook Centre on September 19, 2014; CF Rideau Centre in Ottawa on March 6, 2015 and CF Pacific Centre in Vancouver on September 18, 2015. The company will open three additional full-line stores in the Toronto area including CF Eaton Centre on September 16, 2016, Yorkdale Shopping Centre on October 21, 2016 and CF Sherway Gardens, fall 2017.

About Nordstrom
Nordstrom, Inc. is a leading fashion specialty retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 329 stores in 39 states, including 121 full-line stores in the United States, Canada and Puerto Rico; 200 Nordstrom Rack stores; two Jeffrey boutiques; and one clearance store. Additionally, customers are served online through Nordstrom.com, Nordstromrack.com and HauteLook. The company also owns Trunk Club, a personalized clothing service serving customers online at TrunkClub.com and its five clubhouses. Nordstrom, Inc.’s common stock is publicly traded on the NYSE under the symbol JWN.

About The Ottawa Train Yards
The Ottawa Train Yards is one of the largest mixed-used development in the Ottawa area.  Centrally located and just minutes from downtown, the development covers 135 acres with capacity to grow to over 1 million square feet of retail space and 2.2 million square feet of office space. It enjoys excellent linkages from major highways and transportation routes, inter-city heavy rail, urban transit routes, and soon the new light rail urban transit system.

MEDIA CONTACTS:
Jessica Canfield
Nordstrom, Inc.
(206) 303-4250
Jessica.Canfield@nordstrom.com

Marty Koshman
The Ottawa Train Yards Inc.
(613) 723-7490 X 124
MKoshman@controlex.ca

SOURCE: Nordstrom, Inc.

Earn AIR MILES reward miles at Sobeys, Sobeys Urban Fresh and Foodland stores in Ontario

Sobeys first national grocer to offer AIR MILES Reward Program across Canada 

STELLARTON, NS, 2015-1-16 — /EPR Retail News/ — Sobeys and LoyaltyOne, Co., owner and operator of the AIR MILES® Reward Program, are expanding their relationship in the province of Ontario. Beginning March 27, 2015, shoppers will be able to earn AIR MILES reward miles at Sobeys, Sobeys Urban Fresh and Foodland stores in Ontario. The expansion also includes the launch of the AIR MILES program’s instant redemption feature, AIR MILES Cash, for in-store savings at the check-out.

With the launch of the AIR MILES Reward Program in Ontario, Sobeys will become the loyalty program’s first Canadian grocery Sponsor to issue reward miles across Canada.

This expansion follows the September 2014 launch of the AIR MILES Reward Program in Sobeys Western Canadian banners including Sobeys, IGA, Thrifty Foods and Edgemont Market, and Sobeys Liquor, while continuing the partnership with Safeway and Safeway Wine and Spirits stores. AIR MILES Cash launched in Safeway and Safeway Wine and Spirit stores in November 2014. In Quebec, IGA, IGA extra, Marché Bonichoix, Les Marchés Tradition and Rachelle-Béry continue to offer the AIR MILES reward program.

Customers also continue to collect reward miles at Sobeys, Foodland and Lawtons Drugs in Atlantic Canada.

“Our customers have responded very positively to the AIR MILES Program in other provinces, and we are looking forward to adding the same value to our customers’ shopping experience in Ontario,” says Marc Poulin, president and chief executive officer, Sobeys Inc. “For the first time, we will have a national rewards program and we are delighted to partner with LoyaltyOne across Canada to provide a more rewarding experience in our stores.”

The Ontario Club Sobeys loyalty program and BMO Club Sobeys MasterCard will transition to the AIR MILES Reward Program in 2015.

The cross-Canada relationship provides Sobeys customers and AIR MILES Collectors the opportunity to earn even more AIR MILES reward miles for their everyday purchases at locations in all 10 provinces.

Collectors can redeem their reward miles for more than 1,200 rewards options, including travel and merchandise in addition to the Program’s instant redemption feature, AIR MILES Cash, which will be available at all Sobeys, Sobeys Urban Fresh and Foodland stores where AIR MILES reward miles are issued.“The expansion of our partnership with Sobeys over the past year, from Atlantic Canada and Quebec to Western Canada and now Ontario, has provided for even more customers to engage with the Program and benefit from its value,” says Andy Wright, president, AIR MILES Reward Program. “We are thrilled to grow and strengthen our long-standing partnership with Sobeys, one of Canada’s leading national grocers.”

Sobeys has been a valued Sponsor in the AIR MILES Reward Program for more than 15 years. Collectors can get more information on nearby Sponsors by visiting www.airmiles.ca.

About Sobeys Inc.
Proudly Canadian, with headquarters in Stellarton, Nova Scotia, Sobeys has been serving the food shopping needs of Canadians for 107 years. A wholly-owned subsidiary of Empire Company Limited (TSX:EMP.A), Sobeys owns or franchises more than 1,500 stores in all 10 provinces under retail banners that include Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawton’s Drug Stores as well as more than 350 retail fuel locations. Sobeys and its franchise affiliates employ more than 125,000 people.

The company’s purpose is to help Canadians Eat Better, Feel Better and Do Better. More information on Sobeys Inc. can be found at www.sobeyscorporate.com.

About LoyaltyOne Co.
LoyaltyOne is a global leader in the design and implementation of coalition loyalty programs, customer analytics and loyalty services for Fortune 1000 clients around the world. LoyaltyOne’s unparalleled track record delivering sustained business performance improvement for clients stems from its unique combination of hands-on practitioner experience and continuous thought leadership. LoyaltyOne has over 20 years history leveraging data-driven insights to develop and operate some of the world’s most effective loyalty programs and customer-centric solutions. These include the AIR MILES Reward Program, North America’s premier coalition loyalty program; a majority stake in European-based BrandLoyalty, one of the largest and most successful campaign-driven loyalty marketers outside of the Americas; and a working partnership with Latin America’s leading coalition program, dotz. LoyaltyOne is also the owner of COLLOQUY, a group dedicated to research, publishing and education for the global loyalty industry. LoyaltyOne is an Alliance Data company. For more information, visit www.loyalty.com.

About the AIR MILES Reward Program
Founded in 1992, the AIR MILES Reward Program is Canada’s premier coalition loyalty program with more than 10 million active Collector accounts, representing approximately two-thirds of all Canadian households. The AIR MILES Reward Program allows Collectors to earn reward miles simply by doing their everyday shopping at more than 240 leading brand-name Sponsors, representing thousands of retail and service locations across Canada and leading global brands online. The AIR MILES Reward Program also allows Collectors to indulge in more than 1,200 leisure, entertainment, merchandise, travel and a range of accredited, environmentally-friendly lifestyle rewards. With AIR MILES Cash, Collectors can also have the flexibility to instantly redeem their AIR MILES reward miles in-store towards many every day and high value purchases like gas, grocery, drug store items and home improvement purchases at participating Sponsors.

For More Information, Contact:
Sobeys Inc.: 902-752-8371, ext. 8455, cynthia.thompson@sobeys.com
AIR MILES Reward Program Media Office: 416-552-2352, mediaoffice@loyalty.com