Connect News Commercial Real Estate news for every market and every facet, every day.
Connect Events Live and virtual events bringing together the best of information and networking.
Connect Creative A full service marketing and PR agency.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.
Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.
Find Your Course
Advertise, Promote, Attend, Create – Work with Connect.
A full service marketing and PR agency.
Meet the team behind the machine and taste a little of the secret sauce.

Canada CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Canada  + Finance  |  June 12, 2024
Photo First Capital building.
Avatar photo
By: Monte Stewart

First Capital REIT Raises $300M Through Debentures Sale

First Capital REIT has raised $300 million in capital through the sale of Series C unsecured debentures.

The transaction closed Wednesday. Toronto-based First Capital offered the debentures on an agency basis via a syndicate of agents co‐led by RBC Capital Markets, Desjardins Capital Markets and TD Securities.

The debentures were issued at par, bearing an annual interest 5.455%, will mature on June 12, 2032. As a condition of closing, Morningstar DBRS gave the debentures a BBB (positive) rating.

The REIT plans to use the sale proceeds to repay debt.

First Capital owns, operates and develops grocery-anchored open-air shopping centres across Canada.

Photo: First Capital

Connect

Inside The Story

First Capital REIT

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.
Order Reprints
New call-to-action
New call-to-action