Toronto Stock Exchange Celebrates 25th Anniversary Of REITs - Leaders From Across Canada's Real Estate Sector Commemorate Milestone With TSX Market Open Ceremony

Canada's premier equity markets, Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV), are hosting members of REALPAC, Canada's real estate industry association, for a market open ceremony today in celebration of the 25th anniversary of real estate investment trusts (REITs) in Canada and the listing of the first REIT on TSX.

To honour this milestone, Michael Brooks, CEO, REALPAC, will open the market alongside Loui Anastasopoulos, President, Capital Formation, TMX Group, today at 9:30 a.m. ET.

"Over the last 25 years, TSX-listed REITs have proven to be a successful and attractive vehicle for investors looking to gain exposure to the Canadian real estate sector," said Mr. Anastasopoulos. "Today, we salute that proud history together with our partners in the industry and affirm our commitment to supporting the continued growth of the real estate sector on our equity markets into the future."

Canadian Real Estate Investment Trust (CREIT) and RealFund (which has since merged with RioCan) were the first REITs listed on TSX. Since 1993, over 80 real estate companies have completed an IPO on TSX and TSXV. BSR REIT and Minto Apartment REIT are the two most recent to list on TSX. Today, the market capitalization of the overall real estate sector is $103 billion, which is up nearly 350% over the past 10 years.

"The growth of the Canadian REIT vehicle has been nothing short of remarkable. Out of the depths of the early 1990s recession, Canadian REITs have emerged as the preferred way for many investors to participate in commercial real estate. Canadian REITs have a stellar track record of increasing distributions and growing asset values over this period. The leaders of these REITs deserve great credit for continuously expanding their investment base and evolving to meet changing investor needs," said Mr. Brooks.

TSX and TSXV real estate sector and REIT overview:

Year-to-date as of July 31, 2018.