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Fiera Capital Corp
Symbol FSZ
Shares Issued 78,938,224
Close 2019-02-20 C$ 12.16
Market Cap C$ 959,888,804
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Fiera affiliate has $600,000 in transactions in 2018

2019-02-21 09:45 ET - News Release

Ms. Mariem Elsayed reports

FIERA PROPERTIES ANNOUNCES RECORD 2018 AND A STRONG START TO 2019 FOR THE CORE FUND

Fiera Capital Corp.'s affiliate, Fiera Properties Ltd., had record investment volumes for the year ended Dec. 31, 2018, and has a strong start to 2019 for its flagship Fiera Properties CORE Fund.

In 2018, the CORE Fund completed over $600-million in transactions, including the acquisition of six separate portfolios. All told, 3.5 million square feet and 33 properties were transacted.

CORE Fund 2018 transaction highlights

Acquisitions:

  • Industrial portfolio comprising three multitenant buildings and one single tenant building, totalling over 460,000 square feet on 32.6 acres in Calgary and Edmonton.
  • Portfolio of four Class A suburban office buildings located in Ottawa, totalling over 340,000 square feet, and including approximately three acres of land for future development and expansion.
  • Sunwapta Business Park, a 410,000-square-foot, recently built, industrial park located in northwest Edmonton.
  • An industrial portfolio of over 900,000 square feet, comprising nine buildings with a mix of single and multitenant assets in Montreal and Quebec City.
  • Four retail assets located in established growing markets in British Columbia and Ontario, totalling over 900,000 thousand square feet, that are 99 per cent leased to strong anchor tenants serving the needs of daily living.
  • Seventy-five-per-cent interest in a six-storey Class A, 126,000-square-foot LEED (Leadership in Energy and Environmental Design) gold office development in downtown Kitchener, with a lead legal tenant in place.
  • Outstanding ownership interest in a 200,000-square-foot industrial portfolio comprising four assets and located in Manitoba and Alberta with long-term tenancy.
  • Ninety-per-cent interest in two three-storey multifamily properties with 69 units, adding to the fund's Vancouver multifamily portfolio strategy, comprising nine assets and 296 units.

Dispositions:

  • A 3,000-square-foot property in downtown Toronto, allowing the CORE Fund to exit a non-core holding at an attractive gain.
  • A 29,000-square-foot property in Edmonton, recently released for a longer term to a strong covenant tenant with value maximized in the current environment.

Two thousand nineteen transaction highlights

The CORE Fund currently has over $300-million in assets under contract, including the recently completed acquisition of a 13-building office portfolio, totalling over 700,000 square feet, on a 31.5-acre site near Vancouver International Airport.

"These acquisitions support the highly diverse nature of our portfolio, in terms of both geographies and types of properties," said Peter Cuthbert, president of Fiera Properties. "They provide strength and stability of income, opportunity for growth, further geographic and sector diversification, and, most importantly, sustained performance to the benefit of our growing and diversified investor base."

William Secnik, senior vice-president of investments, added, "The momentum gained in late 2018 carried forward to 2019. In a competitive environment, the Fiera Properties team was able to acquire assets that further allow our investors to diversify their exposure within the real estate asset class."

Fund manager Blair McCreadie added, "Having such a strong deployment track record by the Fiera Properties team, while maintaining the CORE Fund's top quartile performance over one, three and five years is a particularly important achievement."

About Fiera Capital Corp.

Fiera Capital is a global independent asset management firm with approximately $136.7-billion in AUM (assets under management) as at Dec. 31, 2018, delivering customized multiasset solutions across traditional and alternative asset classes to institutional, retail and private wealth clients across North America, Europe and key markets in Asia. Fiera Capital strives to be at the forefront of investment management science and is passionate about creating sustainable wealth for clients.

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