Overview Simon Property Group (NYSE: SPG) is America’s largest retail REIT and shopping mall operation, it owns, develops and manages premier shopping, entertainment, dining, and mixed-use destinations, specializing in upscale properties of five types: Premium Outlet centers Regional malls The Mills Community/lifestyle centers International properties SPG owns five out of the 10 most ... [Read More]
Minto Apartment REIT
Minto Properties, Inc. (MPI), a Greenberg family real estate company with more than 60 years’ experience, is preparing to launch the Minto Apartment REIT with an initial raise of $200M. The REIT is unincorporated and open-ended, registered in Ontario. The REIT plans to concentrate on urban areas in Canada. MPI will retain majority ownership of the REIT and will provide certain fee-paid support ... [Read More]
REITs, Business Cycles and Rising Interest Rates
Interest rate increases do not doom REITs to losses or underperformance, as long as they are gradual and anticipated. Real estate investment trusts (REITs) are thought to be sensitive creatures – they feel the impacts of changes in interest rates and the business cycle in profound ways. This sensitivity stems from the fact that REITs are high-yield instruments, in that most of their total ... [Read More]
CT REIT
Overview CT Real Estate Investment Trust is an unincorporated real estate investment trust with significant holdings in Canadian retail properties. Holdings are located primarily in Ontario, Quebec and Western Canada. CT REIT derives the vast bulk of its revenues from its major lessee and majority unitholder, Canadian Tire Corporation (CTC), the operator of the Canadian Tire retail chain. Most of ... [Read More]
Choice Properties REIT
Overview Choice Properties REIT is a manager, developer, and owner of retail and other commercial Canadian properties, and has started to diversify into mixed-use commercial/residential properties. Most of its revenue stems from tenant leases. Choice is principally owned by Loblaw Companies, the country’s largest grocery retailer, which in turn is controlled by the Weston family. Loblaw-bannered ... [Read More]
Dream Office REIT
Overview Dream Office REIT leases and manages high-quality office properties primarily in the Toronto real estate market. Formerly known as Dundee REIT, Dream Office owns 46 properties with 8.5M square feet of gross leasable space. The average tenant leases 11,000 square feet and has 4.7 years left on its lease term. Dream Office has about 800 employees, $14B in assets and a 90.3 percent ... [Read More]
SmartCentres REIT
Overview SmartCentres is a large Canadian REIT that specializes in value-oriented retail stores and shopping centers, many anchored by Walmart supercenters. The REIT’s main purpose is to develop, lease, construct, own and manage shopping centers and office buildings. The REIT generally prefers properties that are located next to major highways and contain anchor stores. Portfolio occupancy at the ... [Read More]
RIOCan REIT
Overview RioCan is one of Canada’s largest REITs, with a market cap of $13.9B (all dollars are Canadian). It manages, owns and develops 294 retail and mixed-use properties throughout Canada containing 45.149M square feet of net leasable area. Retail properties include urban retail, new format retail, and grocery- and non-grocery-anchored centers. As of the end of Q3 2017, RioCan had 6,415 ... [Read More]
Boardwalk REIT
Overview Boardwalk Real Estate Investment Trust (BEI.UN) is a Canadian publicly-traded REIT specializing in the acquisition, refurbishment, management and ownership of multi-family residential communities throughout Canada. It owns and operates more than 200 communities and more than 33,000 residential units with a total net rentable area of 28M square feet. The company was founded in 1984 by Sam ... [Read More]
Health Care REITs
The health care REIT sector owns, manages and rents out real estate related to health care. The sector contains 19 equity REITs with a total market capitalization exceeding $101B. The major health care REIT property subsectors are: Medical office buildings: Typically, physician practices use leased facilities. Part of the reason is that doctors are usually saddled with huge student loan debt ... [Read More]