Primaris REIT is exceptionally well positioned to participate in the recovery of the Canadian enclosed shopping centre industry with a differentiated financial model, best-in-class governance, a fully internal specialized management platform, and a portfolio of well maintained, well located shopping centres across Canada with significant occupancy improvement potential. 

SIZE AND SCALE

$3.8 billion national portfolio of enclosed shopping centres that are market leading in their trade areas

Differentiated Financial Model

5.7x Avg. Net Debt to Adjusted EBITDA1 and target FFO payout ratio1 between 45% - 50%

EXPERIENCED AND INDEPENDENT MANAGEMENT PLATFORM

Robust, fully-internal property and asset management platform with experienced team

 Primaris Stands Alone as a potential Industry Consolidator

Uniquely positioned and well capitalized to be the consolidator in the enclosed mall space as institutions contemplate rebalancing

DEMONSTRATing RESILIENCY and Growth

Delivering strong Same-Property Cash NOI1 growth, rising occupancy, and positive and strengthening leasing spread

REZONING AND Entitlement of Excess Land

Very low site coverage across numerous urban properties allows for intensification, development, or subdivision of land

 

1. Average Net Debt to Adjusted EBITDA, FFO Payout Ratio and Same-Property Cash NOI growth are non-GAAP financial measures and ratios. Refer to the "Non-GAAP Measures" section of the MD&A dated March 31, 2024.