First Capital Realty announces redemption of its 5.36% Series E senior unsecured debentures due January 31, 2014

TORONTO, May 8, 2013 /CNW/ - First Capital Realty Inc. (TSX: FCR) (the "Company"), Canada's leading owner, developer and operator of supermarket and drugstore anchored neighbourhood and community shopping centres, located predominantly in growing urban markets, announced that it will provide notice today to holders of its outstanding 5.36% Series E senior unsecured debentures due January 31, 2014 (the "Debentures") in respect of the redemption in full of the Debentures. As of the date hereof, there is $53.9 million principal amount of Debentures outstanding.

The Company has established June 7, 2013 as the redemption date. On the redemption date, the Debentures will be redeemed in accordance with their terms at a redemption price of $1,025.87 plus accrued and unpaid interest (to but excluding the redemption date) of $18.65 for each $1,000 principal amount of Debentures outstanding, and will thereafter cease to be outstanding.

ABOUT FIRST CAPITAL REALTY (TSX: FCR)

First Capital Realty is Canada's leading owner, developer and operator of supermarket and drugstore anchored neighbourhood and community shopping centres, located predominantly in growing urban markets. The Company currently owns interests in 172 properties, including four under ground-up development, totalling approximately 25.0 million square feet of gross leasable area and three sites 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 in its 2012 Annual Report 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