SmartCentres is reshaping Canadian communities
Founded in 1989, SmartCentres Real Estate Investment Trust is one of Canada’s largest fully integrated REITs, with a best-in-class portfolio featuring 174 strategically located properties in communities across the country. SmartCentres has $11.7 billion in assets and owns 34.7 million square feet of income-producing value-oriented retail space with 97.2% occupancy, on 3,500 acres of owned land across Canada.
SmartCentres continues to focus on enhancing the lives of Canadians by planning and developing complete, connected, mixed-use communities on its existing retail properties. Project 512, a publicly announced $15.2 billion intensification program ($9.8 billion at SmartCentres’ share), represents the REIT’s current major development focus. This intensification program consists of rental apartments, condos, seniors’ residences and hotels, to be developed under the SmartLiving banner; and retail, office, and storage facilities, to be developed under the SmartCentres banner.
Project 512 will produce an additional 58.6 million square feet of space; 28.6 million square feet of which has or will commence construction within the next five years.
From shopping centres to city centres, SmartCentres is uniquely positioned to reshape the Canadian urban and urban-suburban landscape.