First Capital Provides Update On Timing Of Completion Of Arrangement With Kingsett Capital And Choice Properties REIT
First Capital REIT provided an update that its planned arrangement with KingSett Capital and Choice Properties is expected to close in late 2026 or early 2027. Unitholders previously approved the deal, which grants $19.24 cash and Choice Properties units per unit.
First Capital REIT ("First Capital" or the "REIT") (TSX: FCR.UN) today provided an update on the expected timing of completion of the previously announced plan of arrangement (the "Arrangement") involving, among others, the REIT, KingSett Real Estate Growth LP No. 8 and Choice Properties Real Estate Investment Trust ("Choice Properties") (TSX: CHP.UN).
On June 23, 2026, the Arrangement was approved by First Capital's unitholders. On June 25, 2026, the Ontario Superior Court of Justice (Commercial List) issued a final order approving the Arrangement. The Arrangement is subject to other regulatory and customary approvals and closing conditions, and is expected to close in the fourth quarter of 2026 or the first quarter of 2027.
On completion of the Arrangement, unitholders of First Capital will be entitled to receive, for each outstanding unit of First Capital held, a combination of $19.24 in cash and 0.3186 of a unit in the capital of Choice Properties.
About First Capital
First Capital owns and operates, acquires, and develops open-air grocery-anchored shopping centres in neighbourhoods with the strongest demographics in Canada.
Source : First Capital Real Estate Investment Trust
