Based in Toronto, Ontario, First Capital REIT is one of the country’s top developers, owners, and operators of mixed-use urban real estate in the country’s most densely populated cities. It was founded in 1994 as Centrefund Realty through an initial public offering (IPO). It began with five properties and grew to 70 by 2000. Riocan Real Estate Investment Trust reportedly discussed purchasing First Capital in May 2000. In the end, Gazit Group purchased the firm, which was reformed and renamed First Capital Realty in 2001.
After spinning off its American holdings and adding 18 properties during the year, First Capital owned 81 properties as of 2003. First Capital Realty paid $110 million for Hazelton Lanes, a retail center in Yorkville, Toronto, in 2011. In December 2019, the firm changed its name to First Capital REIT and reformed as a Real Estate Investment Trust. As of 2021, First Capital had over 200 properties in over 150 Canadian areas, with over 4,000 tenants and over 22.9 million square feet of gross leasable space.
First Capital REIT focuses on developing vibrant urban neighbourhoods to produce value for businesses, people, communities, and our investors. They aim for performance excellence in their existing properties and new developments, resulting in healthy and sustainable urban communities.
