First Capital Realty Announces New Executive Vice President and Chief Finanical Officer

TORONTO, June 3, 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 Ms. Kay Brekken will join the Company as Executive Vice President and Chief Financial Officer on August 5, 2014.

Ms. Brekken is currently Executive Vice President and Chief Financial Officer of Indigo Books & Music, Inc., a role she has held since 2011. Ms. Brekken joined Indigo Books & Music, Inc. in 2003 and held progressively more senior finance roles prior to her current position. Prior thereto, Ms. Brekken was Chief Financial Officer and Vice President of Regional Operations of Medical Consultants Network, in Seattle, Washington. In connection with her current role, Ms. Brekken is also a member of the board of directors of Calendar Club of Canada and the Indigo Love of Reading Foundation and was previously a director of Kobo, Inc. Ms. Brekken is a certified public accountant (CPA).

In order to facilitate Ms. Brekken's transition into her new role at First Capital Realty, Ms. Karen H. Weaver has agreed to continue in her role as the Company's current and outgoing Executive Vice President and Chief Financial Officer until August 1, 2014, and thereafter to be available to the Company and Ms. Brekken on an as-needed basis until August 31, 2014.

"We welcome Kay to our senior management team and look forward to her leadership in continuing to execute our strategy" said Dori J. Segal, President and CEO. "I would also like to again thank Karen for the important role she played in the search for her successor and for facilitating an orderly transition process for Kay and the Company."

"Kay's experience as CFO and senior leader of an important, publicly-traded retailer will complement well and add further valuable experience to First Capital's senior management team" said Karen H. Weaver, current and outgoing Executive Vice President and CFO. "It is with tremendous pride that I will hand the reins to Kay in August, as I am confident that the Company and team we have built will continue its excellent performance and achievements in the years ahead."

"I am truly excited and honoured to be joining First Capital Realty" said Ms. Kay Brekken, incoming Executive Vice President and CFO. "The Company has a track record of being an innovator and a market leader, and I look forward to being an important contributor to its continuing success."

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 one ground-up development project underway, totalling approximately 24.5 million square feet of gross leasable area and one land site in the planning stage for future retail development.

SOURCE: First Capital Realty Inc.

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, TSX : FCR