First Capital REIT announces Gazit's disposition of remaining interest in FCR

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/

TORONTO, March 13, 2020 /CNW/ - First Capital REIT ("First Capital" or "FCR") (TSX: FCR.UN), one of Canada's leading developers, owners and operators of mixed-use urban real estate in Canada's most densely populated neighbourhoods, announced today that Gazit-Globe Ltd. (together with its affiliates, "Gazit") has sold its remaining 3.0% interest in FCR. FCR agreed to waive the previously announced one-year lock-up of Gazit's FCR shares to facilitate an orderly reduction of Gazit's interest in FCR, which has now been accomplished.

About First Capital REIT (TSX: FCR.UN)

First Capital is one of Canada's leading developers, owners and operators of mixed-use urban real estate in Canada's most densely populated neighbourhoods. First Capital's focus is on creating thriving neighbourhoods that create value for businesses, residents, communities and our investors.

SOURCE First Capital Real Estate Investment Trust

Kay Brekken, Executive Vice President & CFO, [phone], [email protected], www.fcr.ca, TSX: FCR.UN