Canderel: 777 Bay Street Awarded BOMA BESt, Level 3 Certification

TORONTO, ONTARIO--(Marketwire - May 1, 2012) - Canderel is proud to announce that 777 Bay Street, located in Toronto, has been recertified BOMA BESt, Level 3. To achieve BOMA BESt, Level 3 certification, a building must meet all of the BOMA Go Green Best Practices and achieve 80-89% on the Go Green Plus assessment.

Recertifying to Level 3 is a testament to Canderel's long-term dedication to rigorous environmental performance and management standards. A number of initiatives to reduce energy and water use and better manage waste at 777 Bay Street have been successfully implemented in recent years. As a result, in 2011, energy use adjusted for changes in weather was reduced by more than 8% against a 2008 baseline and water consumption over that same period was reduced by more than 10%.

Energy efficiency measures at 777 Bay Street include the implementation of Deep Lake Cooling to replace chillers, the installation of high-efficiency boilers and the upgrading of office and market level lighting. Measures to reduce water use include the installation of waterless urinals, low-flow toilets and auto-sensor faucets. 777 Bay Street offers an office recycling program which includes electronic waste. In addition, the property will be implementing an organics recycling programs for restaurants located in the market level in 2012.

ABOUT CANDEREL

The Canderel Group of Companies is comprised of several fully integrated, commercial real estate companies. Canderel has grown to become one of the most successful real estate development and management organizations in Canada. Founded by Jonathan Wener, Canderel has established an enviable reputation for its integrity as a major real estate development company and for its sound judgment and knowledge of the commercial, multi-residential and industrial real estate business.

Over the years, Canderel has been intimately involved in all aspects of residential and commercial property development and management within its core markets: Montreal, Toronto, Ottawa and Vancouver. Canderel's success to date is largely a reflection of its unique ability to direct all facets of real estate projects, either on its own behalf, for its clients, or in joint venture with partners.