First Capital REIT announced a cash distribution of $0.072 per REIT unit for February 2023, equating to an annualized rate of approximately $0.86 per unit. The distribution will be paid on March 15, 2023, to unitholders of record as of February 28, 2023.
First Capital REIT specializes in the ownership, operation, and development of grocery-anchored, open-air centers in Canada's key demographics.
First Capital has appointed Paul C. Douglas as Chair of the Board and Ira Gluskin as a new Trustee following the retirement of Bernard McDonell. This transition is part of the Board's ongoing strategy to refresh its leadership while maintaining historical continuity. Douglas, who has been with the Board since 2019 and served in senior roles at TD Group, emphasized his commitment to executing First Capital’s strategic plan and enhancing value for unitholders. The Board aims to ensure diverse expertise through regular renewal and engagement with unitholders for governance excellence.
First Capital has announced significant governance changes, appointing Paul C. Douglas as Chair of the Board and Ira Gluskin as a new Trustee, effective February 7, 2023. This follows the retirement of Bernard McDonell, who served since 2007. The board refreshment aims to balance fresh perspectives with continuity. Douglas, who joined the Board in 2019 and has a distinguished career in banking, emphasized commitment to unitholders and strategic execution. Gluskin, an experienced figure in real estate and capital markets, brings valuable expertise. These changes support First Capital's goal of delivering strong returns to unitholders.