Plazacorp announces six new projects

    




 FREDERICTON, July 17, 2012 /CNW/ - Plazacorp Retail Properties Ltd.   announced today that it will develop six new retail  properties. Three projects are located in Quebec, one in Nova Scotia,  one in New Brunswick and one in Newfoundland. 

 In all, the Corporation will be investing approximately $20 million for  its share of these six new projects and will add approximately 120,000  square feet to Plazacorp's portfolio of retail properties (at PLZ's  ownership percentage). The Nova Scotia and Quebec projects are being  developed with joint venture partners. 

 "We are pleased to be able to continue to grow our portfolio by  developing high quality projects that are leased to Canada's best  retailers. Our ability to source new high quality development projects  distinguishes Plazacorp from most other public real estate entities  that are competing to acquire existing or finished properties in a  highly competitive and low cap rate environment.  Upon completion,  these properties will further diversify our asset base and allow us to  continue to grow our cash flow and deliver a reliable dividend to our  shareholders." said Plazacorp President and CEO Michael Zakuta. 

 Plazacorp Retail Properties Ltd. is an owner of shopping malls and strip  plazas throughout Atlantic Canada, Quebec and Ontario. Plazacorp now  owns interests in 116 properties comprising over 5.1 million square  feet of retail real estate. 

 Neither TSX Venture Exchange nor its Regulation Services Provider (as  that term is defined in policies of the TSX Venture Exchange) accepts  responsibility for the adequacy or accuracy of this release.  



PLAZACORP RETAIL PROPERTIES LTD.


CONTACT:  For more information on Plazacorp, visit our website atwww.plaza.caOr contact:Michael Zakuta, President and CEO at 514-457-0997 x228 or Lynda Savoie,Treasurer at 506-444-6449 


    

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