First Capital Realty announces impending senior management change

TORONTO, April 2, 2014 /CNW/ - First Capital Realty Inc. (TSX:FCR) (the "Company"), Canada's leading owner, developer and manager of well located, high quality urban retail-centered properties, announced today that Karen Weaver, the Company's Executive Vice President and Chief Financial Officer, has made the decision to leave the Company to pursue other opportunities. She will remain with the Company to transition to her successor until June 2, 2014. The Company will begin a search for a replacement CFO immediately.

"Karen has been my personal confidant and my partner in transforming this great Company to where it is today", said Dori J. Segal, President & CEO. "I am sorry to see her leave and wish her all the best in her future endeavours."

"It has been a privilege to be part of First Capital over the last 10+ years to see the Company through its significant growth and excellent financial performance", said Karen H. Weaver, Executive Vice President and CFO. "While I have made the difficult decision to leave First Capital, I am extremely proud of our accomplishments during my tenure. The Company, its assets and its team are first class, and will continue to excel in the years ahead."

ABOUT FIRST CAPITAL REALTY (TSX:FCR)

First Capital Realty is Canada's leading owner, developer and manager of well located, high quality urban retail-centered properties where people live and shop for everyday life. The Company currently owns interests in 164 properties, including two ground-up developments, totalling approximately 24.6 million square feet of gross leasable area and one land site in the planning stage for future retail development.

Forward Looking Statements

This press release contains forward-looking statements and information within the meaning of applicable securities law. Forward-looking statements can be identified by the expressions "expects", "believes", "estimates", "will" and similar expressions. The forward-looking statements are not historical facts but reflect the Company's current expectations regarding future results or events and are based on information currently available to Management. Certain material factors and assumptions were applied in providing these forward-looking statements.

Management believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, Management can give no assurance that the actual results or developments will be consistent with these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in First Capital Realty's Management's Discussion and Analysis for the year ended December 31, 2013 and under "Risk Factors" in its current Annual Information Form. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. First Capital Realty undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by applicable securities law.

All forward-looking statements in this press release are made as of the date hereof and are qualified by these cautionary statements.

SOURCE: First Capital Realty Inc.

For further information regarding First Capital Realty: Dori J. Segal, President & CEO, or Karen H. Weaver, Executive Vice President & CFO, First Capital Realty Inc., 85 Hanna Avenue, Suite 400, Toronto, Ontario, Canada M6K 3S3, Tel: [phone], www.firstcapitalrealty.ca