KingSett Capital, on behalf of KingSett Real Estate Growth LP No. 8 and other investors, and Choice Properties REIT announced that they have agreed to acquire First Capital REIT in a unit and cash transaction valued at approximately C$9.4 billion ($6.9 billion, including the assumption of certain debt.
Under the terms of the arrangement agreement, First Capital unitholders will receive consideration of C$19.24 ($14.03) in cash and 0.3186 units of Choice Properties per First Capital unit, which represents total consideration of C$24.40 ($17.79) per First Capital unit based on the closing unit price of Choice Properties on April 15, 2026. The transaction price represents a premium of 17 percent to First Capital's 20-day volume-weighted average price through April 15, and a premium of 8 percent to First Capital's net asset value of C$22.57 ($16.45) per unit. In addition, the transaction price represents a premium of 12 percent and 21 percent to First Capital's closing unit price
