Canadian Urban Limited announces new lease with Canadian Western Bank in suburban office property located in Markham, Ontario

The Schedule I bank will offer business and personal banking, wealth management from this second location in Ontario

For Distribution in Canada Only

Edmonton, AB, February 15, 2022

Canadian Urban Limited is pleased to announce a new lease with Canadian Western Bank (TSX: CWB) at 7303 Warden Avenue; a + 58,000 square feet suburban office property located in Markham, Ontario managed by Canadian Urban Limited.

CWB will occupy main floor space at the multi-tenanted property. To facilitate CWB as well as its clients and employees, elements of the building façade will be improved to include a new separate entrance directly into the tenant’s space. The property fronts Warden Avenue with excellent visibility to both the building and property signage. The building tenants benefit from having quick access to highways 407/404 and the Downtown Markham amenities.

“Canadian Urban has executed several lease transactions within our office portfolio during the COVID-19 pandemic. It demonstrates that well-located buildings in strong markets continue to be desirable to tenants. We are thrilled to welcome CWB as a tenant in this property. Warden is well positioned within the Markham submarket. The property is tenanted by a mix of established local, national and international tenancies,” said Sorab Gill, AVP, Asset Management, Canadian Urban Limited

“Canadian Urban remains focussed on managing and growing our portfolio of office, industrial, retail and multi- family assets across Canada. Our appetite to acquire well-located properties in primary markets will continue in 2022. A big thanks to Cushman Wakefield and Avison Young for their help to complete this deal with CWB,” said David Ward, SVP, Asset Management, Canadian Urban Limited

The Edmonton-based bank has recently scaled up their business in Ontario to offer relationship-based banking and wealth management targeted to small and mid-market business owners and decision makers. This will be CWB’s second location in Ontario and its only location in Markham.

“On behalf of the City of Markham, we welcome Canadian Western Bank to our vibrant city. Markham is Canada’s High Tech Capital that offers many advantages to our businesses and residents. This includes our pro-business environment, diverse services and amenities, strong public infrastructure, talented workforce, and high quality of life. We look forward to CWB joining our thriving business community with their operation at this location for many years to come.” said Frank Scarpitti, Mayor of Markham

“CWB is incredibly excited to join Markham’s vibrant, growing business community. Our choice of this central location is deliberate in that it offers close proximity and ease of access to our current clients and those we hope to earn the business of in the near future. We’re currently building an experienced team who understand the needs of business owners and decision-makers in the area, and look forward to opening our doors in just a few months,” added John Butler, Assistant Vice President and Market Lead, CWB.

About CWB Financial Group

CWB Financial Group (CWB) is a diversified financial services organization known for a highly proactive client experience serving businesses and individuals across Canada. CWB’s key business lines include full-service business and personal banking offered through branch locations of Canadian Western Bank and Internet banking services provided by Motive Financial. Highly responsive nation-wide specialized financing is delivered under the banners of CWB Optimum Mortgage, CWB Equipment Financing, CWB National Leasing, CWB Maxium Financial and CWB Franchise Finance. Trust services are offered through CWB Trust Services. Comprehensive wealth management services are provided through CWB Wealth Management and its affiliate brands, including T.E. Wealth, Leon Frazer & Associates, CWB McLean & Partners, and Canadian Western Financial. As a public company on the Toronto Stock Exchange (TSX), CWB trades under the symbols “CWB” (common shares), “CWB.PR.B” (Series 5 preferred shares), “CWB.PR.C” (Series 7 preferred shares) and “CWB.PR.D” (Series 9 preferred shares). Learn more at www.cwb.com.

About Canadian Urban Limited

Canadian Urban is an innovative and disciplined real estate investment manager with a 50-year history and a diverse and strategic portfolio of industrial, office, retail, and multi-family properties across Canada. Canadian Urban delivers on its track-record of achieving superior risk-adjusted returns for institutional and private wealth clients through its entrepreneurial spirit, ability to respond quickly, long-term relationships and keen market insights. Its clients include major pension funds, endowment funds and select private wealth clients. Canadian Urban offers its clients services including Investment Management, Asset Management, Property Management, Development and Sustainability. To learn more, visit www.canadianurban.com or follow Canadian Urban on LinkedIn.

Media contact:

Jay Hamilton, CPA, CA
President
Canadian Urban Limited
(E) jhamilton@canadianurban.com
(T) 780.424.7722

SOURCE Canadian Urban Limited

Legal disclaimer and forward-looking statements:

This communication is for information purposes only and is not, and under no circumstances is to be construed as, an invitation to make an investment in any investment vehicles managed by Canadian Urban Limited. Past performance may not be repeated. Investing in real estate involves significant risks and the value of an investment may go down as well as up. There is no guarantee of performance. An investment in Canadian Urban’s investment funds is not intended as a complete investment program and should only be made after consultation with independent investment and tax advisors.