Choice Properties Real Estate Investment Trust announced that it has agreed to issue, on a private placement basis in certain provinces of Canada (the ?Offering?), $350 million aggregate principal amount of series Q senior unsecured debentures of the Trust that will bear interest at a rate of 2.456% per annum and will mature on November 30, 2026 (the ?Debentures?). The Debentures represent the Trust?s first green bond offering pursuant to its recently released Green Financing Framework (the ?Framework?), which Sustainalytics, a global leader in providing ESG research and analysis, reviewed and confirmed as being aligned with the International Capital Markets Association?s Green Bond Principles 2021 and the Loan Market Association Green Loan Principles 2021. The Debentures are being offered on an agency basis by a syndicate of agents co-led by CIBC Capital Markets, RBC Capital Markets, TD Securities, BMO Capital Markets and Scotiabank. Subject to customary closing conditions, the Offering is expected to close on November 30, 2021. The Trust intends to allocate the net proceeds of the Offering to fund the financing and/or refinancing of eligible green projects (?Eligible Green Projects?) as described in the Framework. Prior to the allocation of the net proceeds of the Offering to Eligible Green Projects, the Trust intends to use the net proceeds of the Offering to repay existing indebtedness, including (i) the previously announced early redemption of the Trust?s $300 million principal amount of 3.01% series I senior unsecured debentures on December 10, 2021, and (ii) to repay all or a portion of the balance drawn on the Trust?s credit facility. It is a condition of closing of the Offering that the Debentures be rated at least ?BBB? (high) with a ?stable? trend by DBRS Morningstar and at least ?BBB? by S&P Global Ratings. The Debentures will rank equally with all other unsecured indebtedness of the Trust that has not been subordinated. The Debentures being offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.