Choice Properties Real Estate Investment Trust announced that it has entered into an agreement to acquire two real estate assets from Wittington Properties Limited for an aggregate purchase price of approximately $206 million, excluding transaction costs, which will be satisfied in full by the issuance of 16.5 million trust units of Choice Properties. The Properties include: the remaining 60% interest in West Block, a mixed-use site that combines retail shops anchored by a Loblaws grocery store and office space located on the northeast corner of Lake Shore Boulevard and Bathurst Street in Toronto, and the Weston Centre, a multi-tenant office and retail site, including a Loblaws grocery store located at the intersection of Yonge Street and St. Clair Avenue in Toronto. The Properties comprise approximately 585,000 square feet of gross leasable area. As previously announced, Choice Properties entered into a joint venture partnership with Wittington to revitalize and restore the original Loblaw Groceterias building to create West Block. Upon the completion of this acquisition, Choice Properties will hold a 100% ownership interest in West Block. In addition, the Weston Centre will continue to serve as the head office of Choice Properties and its parent company, George Weston Limited. The purchase price for the acquisition was established with reference to independent financial advice from RBC Capital Markets on behalf of Choice Properties and CIBC Capital Markets on behalf of Wittington. The acquisition is subject to customary closing conditions, including approval from the Toronto Stock Exchange, and is expected to be completed on or about July 31, 2020.