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Supplemental Information Package FOR THE THREE MONTHS ENDED MARCH 31, 2018
1ST QUARTERSM A RTCE N T R ES R E I T SM A RT To dAy SM A RT To M o R Row
TABLE OF CONTENTS
1
SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
Notice to Reader …………………………………………………………………………........………….... 2
Conference Call Highlights ………….……..………………………………………………………………. 3
Looking Beyond ……………………………………………………..…………………………………… 10
Portfolio Highlights ……………………………...……………...…………………………………………. 12
Distribution Reinvestment Plan ……………………………………………...…………………………… 13
Distribution History …………………………………………..………………….…………..... 13
Performance of SmartCentres Units ………………………………………………………………......... 14
Average Unit Trading Price …………………………………………………………….…….. 14
Average Daily Volume of Units Traded ………………………………………..……………. 14
Market Capitalization Summary ………………………………………………..……………. 14
Gross Revenue and Area by Province ………………………………………………………………….. 15
Top 25 Tenants ……………………………………………………………………………………............. 16
Lease Expiration Schedule ……………………………………………………………………………..… 17
Area by Age …………………………………………………………………………………………….….. 18
Future Earnouts and Developments ………………………………………………………………......… 19
Major Mixed-Use Real Estate Initiatives ……….……………………………………………………...… 20
Recourse Loans to Developers ………………………………………………………………………….. 22
Individual Property Summary ………………………………………………………………………..…… 23
General Information ………………………………………………………………………........................ 36
.
NOTICE TO READER
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
Readers are cautioned that certain terms used in this Supplemental Information Package
(“Supplement”) such as Funds From Operations ("FFO"), Adjusted Cashflow From Operations
("ACFO"), "Gross Book Value", "Payout Ratio", "Interest Coverage", "Total Debt to Adjusted EBITDA"
and any related per Unit amounts used by management to measure, compare and explain the
operating results and financial performance of the Trust do not have any standardized meaning
prescribed under IFRS and, therefore, should not be construed as alternatives to net income or cash
flow from operating activities calculated in accordance with IFRS. These terms are defined in this
Supplement and reconciled to the consolidated financial information of the Trust in the
Management’s Discussion and Analysis (“MD&A”) for the three months ended March 31, 2018. Such
terms do not have a standardized meaning prescribed by IFRS and may not be comparable to
similarly titled measures presented by other publicly traded entities.
Certain statements in this Supplement are "forward-looking statements" that reflect management's
expectations regarding the Trust's future growth, results of operations, performance and business
prospects and opportunities. More specifically, certain statements contained in this Supplement,
including statements related to the Trust's maintenance of productive capacity, estimated future
development plans and costs, view of term mortgage renewals including rates and upfinancing
amounts, timing of future payments of obligations, intentions to secure additional financing and
potential financing sources, and vacancy and leasing assumptions, and statements that contain
words such as "could", "should", "can", "anticipate", "expect", "believe", "will", "may" and similar
expressions and statements relating to matters that are not historical facts, constitute "forward-
looking statements". These forward-looking statements are presented for the purpose of assisting
the Trust's Unitholders and financial analysts in understanding the Trust's operating environment,
and may not be appropriate for other purposes. Such forward-looking statements reflect
management's current beliefs and are based on information currently available to management.
However, such forward-looking statements involve significant risks and uncertainties. A number of
factors could cause actual results to differ materially from the results discussed in the forward-looking
statements. Although the forward-looking statements contained in this Supplement are based on
what management believes to be reasonable assumptions, the Trust cannot assure investors that
actual results will be consistent with these forward-looking statements. The forward-looking
statements contained herein are expressly qualified in their entirety by this cautionary statement.
These forward-looking statements are made as at the date of this Supplement and the Trust
assumes no obligation to update or revise them to reflect new events or circumstances unless
otherwise required by applicable securities legislation.
CONFERENCE CALL
HIGHLIGHTS
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
OPERATIONS – FOR THE QUARTER
▪ FFO with one time adjustment and transactional FFO increased by $6.0 million or 7.2% to
$89.8 million, and by $0.02 or 3.7% to $0.56 on a per Unit basis for the quarter compared to Q1
2017
▪ ACFO with one time adjustment increased by $3.9 million or 5.0% to $81.8 million compared to
the same quarter in 2017
▪ Payout ratio to ACFO with one time adjustment increased by 0.6% to 86.1% compared to the
same quarter of 2017
▪ Occupancy level at 98.0% at the end of the quarter (98.1% in Q1 2017) and 98.1% including
executed leases (98.4% in Q1 2017)
▪ Renewed 1,363,421 square feet, representing 61.8% of lease maturities for 2018, with average
face rents increase of 3.8%
▪ Average cap rate of investment properties at 5.84% (5.84% in Q1 2017)
TENANT ACTIVITY
▪ No Sears exposure in any format
▪ Approximately 44,000 square feet of retail and office tenancies were completed and transferred
this quarter via earnouts and development, providing an unleveraged yield of 6.5%
▪ SmartCentres' occupancy at 98.0% (98.1% including executed deals), remains strong
▪ Dollar store growth principally through Dollarama continues to absorb surplus space. Total
number of stores is now 79 (Dollarama – 52, and Dollar Tree – 27)
▪ Purchase of Toys "R" Us (Canada) by Fairfax Financial Holdings Limited stabilizes this tenant
and may provide upside potential if business grows
▪ Continued good interest from tenants for various size properties based on quality of locations
▪ Overall, SmartCentres continues to monitor closely those tenants in certain markets where
some rationalizing is taking place
CONFERENCE CALL
HIGHLIGHTS
4
SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
GROWTH
▪ Same properties' NOI decreased by $0.5 million or (0.4)% for the quarter compared to 2017.
Excluding the impact of a $1.1 million reversal of previously recorded general bad debt
provisions included in 2017, year-over-year same property growth for the three months ended
March 31, 2018 would have been 0.5%
▪ Premium Outlets
- Toronto
o tenant sales continuing to perform well and are now approximately $1,170 psf
(excluding Saks) on a rolling 12 month basis
o Q1 2018 sales ahead of Q1 2017 by a strong 6.5% despite challenging
weather in January and February
o virtually all temporary tenants replaced with long term leases and quality
tenants, and site is 100% occupied
o the new parking facility, to provide 1,800 parking spots as part of the 145,000
square foot expansion of the shopping centre, opened at the end of
November 2017
o the 145,000 square foot expansion scheduled to open in November 2018 is
on track and on budget. Expected to open virtually full
- Montreal
o tenancy of long and short term tenants currently at 100%
o Salvatore Ferragamo and Gucci continue as key traffic drivers with respect to
luxury brands, and driving strong sales
o 2017 income grew 14.0% over 2016 and sales are now at $678 psf on a
rolling 12 month basis
o Q1 2018 sales up by a very strong 22% over Q1 2017
o 75-acre site adjacent to the centre under consideration for various uses
including residential and hotel
- SmartCentres actively working with Simon to develop two potential additional sites. One
potential site in the GTA has been abandoned, but has been replaced by another potential
location
CONFERENCE CALL
HIGHLIGHTS
5
SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
GROWTH (CONT’D)
▪ Vaughan Metropolitan Centre
- subway opened on December 17, 2017
- project progressing very well and the KPMG Tower is now complete
- the KPMG Tower won the 16th Annual Real Estate Excellence (REX) Award for Office
Development of the Year for the GTA
- minimal office space left now in the KPMG Tower based on executed leases. FM Global, a
global insurance company, now operating on the 2nd floor of the tower and all of the
additional podium space
- project coming in well below budget for construction costs
- second mixed-use tower topping off ceremony in April 2018 with PwC as lead tenant as
well as YMCA, a library and other community space
- extremely successful launch for first residential developments in a joint venture with
Mitchell Goldhar and CentreCourt Developments Inc. with three condominium towers,
which will be 55 storeys each and have a total of 1,716 units. All three towers sold out at
significantly increased pricing versus original proformas. Construction of the first two
towers has started, with the third to follow later this year
- north condominium tower will include new BUCA-branded restaurant and BAR BUCA at
the lobby level
- design work commenced on next phase, with two additional condominium towers, third
office tower and first residential rental tower under consideration
- York Regional bus terminal finalizing construction and expected to be ready in May 2018
- significant internal road infrastructure now completed, improving internal access
- surface parking for 900 cars now available for subway commuters in two lots on the site
and these are generally fully occupied Monday to Friday
- TD Canada Trust retail branch now open in the KPMG Tower
CONFERENCE CALL
HIGHLIGHTS
6
SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
GROWTH (CONT’D)
▪ Future Opportunities
- residential single family home project at Vaughan NW moving forward in a JV with
Fieldgate, a well known home developer, with up to 230 freehold townhomes now
expected on an approximately 16-acre site, and initial occupancy planned for early 2020.
Expected return of 20% to 25% on costs of approximately $152 million of which our share
is 50%
- sale of land to the JV booked in Q2 2017 providing 2 cents of transactional FFO benefit
- earnouts and developments – committed pipeline of approximately 189,000 square feet in
place at a yield of 6.4%
- the initial phase of development of office and retail space for the StudioCentre at
Lakeshore Boulevard East has now begun. The film studios are fully booked close to the
end of 2018 and new sound stage is now open
- Westside Mall – mixed-use opportunity for 2 million to 2.5 million square feet resulting from
Eglinton LRT line station and proposed GO interchange integrated with existing retail
property moving forward with strong council support
- Vaughan (400 & 7) SmartCentre – 20-acre site along Hwy 7 is now slated for
approximately 2.5 million square feet of redevelopment, including residential, office, retail
and entertainment. The site under the Vaughan Official Plan is permitted one of the
highest densities in Vaughan, second only to the Vaughan Metropolitan Centre
- Laval Centre
o proposed mixed-use development, including office, residential, seniors
housing and further retail, now underway
o JV with Jadco progressing well and construction starting in May for first rental
tower
- Pointe-Claire SmartCentre acquired in 2016 now identified for significant intensification,
with zoning now approved for up to 1.5 million square feet of residential, in various forms,
and retirement homes. First condominium tower planned for completion by 2020
- South Oakville Centre now in active planning and discussion for redevelopment, including
residential and senior home uses on part of the site
CONFERENCE CALL
HIGHLIGHTS
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
GROWTH (CONT’D)
▪ Intensification / Redevelopment
- JV with SmartStop Asset Management progressing for self-storage sites. Five sites in the
GTA now moving forward with more sites to follow
- agreements with Revera for a multi-site retirement homes development program moving
forward. Additional sites with other organizations also under negotiation
- discussions with a number of potential partners to consider residential (including
condominium, rental and single family homes), and other potential uses on existing retail
sites underway
- first six Tesla charging stations now open, with a further 12 sites planned by year-end, as
part of a comprehensive strategy to incorporate value-added services to many of the
properties in the retail portfolio
- in excess of 56 sites now under consideration for development / intensification (up from
initial 30)
▪ Acquisitions
- The acquisition of 12 properties as part of the OneREIT transaction in October 2017
continues to deliver the expected benefits
CONFERENCE CALL
HIGHLIGHTS
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
CAPITAL ACTIVITIES
▪ Leverage at 45.0% of FMV, consistent with the 45.0% in 2017
▪ Total debt weighted average interest rate of 3.79% (3.71% in 2017)
▪ Interest coverage at 3.1X (3.1X in 2017)
▪ Unencumbered asset pool in excess of $3.5 billion, providing significant future flexibility. Pool
contains high quality assets
▪ Rebalancing between unsecured and secured debt continues and expected to be at
approximately 50:50 by year-end based on current financing strategy
▪ Annual distribution increased in October 2017 to $1.75 from $1.70, representing a 2.9%
increase
▪ Completed construction financing for:
- Transit City condos (first two residential towers) - joint venture with Mitchell Goldhar and
CentreCourt
- Transit City parkade (commercial portion) - joint venture with Mitchell Goldhar
- PwC-YMCA tower (second office tower) - joint venture with Mitchell Goldhar
- Orleans II (Phase I retail) - joint venture with Mitchell Goldhar
▪ Actively pursuing construction financing for:
- Transit City condos (third residential tower) - joint venture with Mitchell Goldhar and
CentreCourt
- Laval Centre (two residential rental towers) - joint venture with Jadco
▪ Total financing needs based on current development program is $60 million in 2018, $90 million
in 2019, and $90 million in 2020, all of which are expected to be very manageable based on
current balance sheet
CONFERENCE CALL
HIGHLIGHTS
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
2018 OUTLOOK
▪ 2018 Operating FFO expected to grow by approximately 7 cents, based on:
- same property growth
- full year of NOI from 2017 acquisitions and partial year from any potential 2018
acquisitions
- full year of refinancing benefits from 2017 and further 2018 benefits
- developments and earnouts including completion of the Toronto Premium Outlets
expansion
- ongoing settlement of long-standing tenant issues
- 2018 transactional activities expected to add a further 3 cents of FFO
- expenditures on acquisitions in the $100 million - $125 million range
LONG TERM OUTLOOK
▪ FFO growth rate expected to increase in 2019 to 4% - 5%, reflecting the benefit of a full year of
the Toronto Premium Outlets expansion and other initiatives as well as further transactional
FFO
▪ For 2020, FFO growth rate expected to accelerate to in excess of 10% as initial benefits of
significant development in townhomes and condominiums are realized
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
LOOKING BEYOND
Vaughan Metropolitan Centre
VMC - Artist's Rendering of
the PWC Tower
Pointe-Claire – Concept Plan
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
LOOKING BEYOND
Toronto Premium Outlets - Expansion Plan – New Parking Deck
Potential Single Family
Development in Vaughan NW
Laval Centre – Concept Plan
(1) Anchors are defined as tenants within a property with leasable area greater than 30,000 square feet.
(2) Includes the Trust’s share of equity accounted investments.
(3) Includes convertible debentures and acquisition date fair value adjustments.
(4) Excludes acquisition date fair value adjustments.
(5) Calculated as debt divided by Aggregate Assets plus accumulated amortization less cumulative unrealized fair value gain or loss with respect to investment
property. The ratio is used by the Trust to manage an acceptable level of leverage and is not considered a measure in accordance with IFRS.
(6) Defined as Adjusted EBITDA over interest expense, where interest expense excludes the distributions on deferred units and LP Class D Units classified as
liabilities and adjustments relating to the early redemption of unsecured debentures. The ratio is used by the Trust to manage an acceptable level of interest
expense relative to available earnings and is not considered a measure in accordance with IFRS.
(7) Defined as debt divided by Adjusted EBITDA. The ratio of total debt to Adjusted EBITDA is included and calculated each period to provide information on the
level of the Trust’s debt versus the Trust’s ability to service that debt. Adjusted EBITDA is used as part of this calculation because the fair value changes and
gains and losses on investment property dispositions do not have an impact on cash flow, which is a critical part of this measure (see “Financial Covenants”
section).
(8) Total Units outstanding include Trust Units and LP Units, including Units classified as liabilities. LP Units classified as equity in the consolidated financial
statements are presented as non-controlling interests.
(9) Represents a non-GAAP measure. The Trust’s method of calculating non-GAAP measures may differ from other reporting issuers’ methods and accordingly
may not be comparable. For definitions and basis of presentation of the Trust’s non-GAAP measures, refer to the “Presentation of Non-GAAP Measures”
section in the MD&A.
(10) See “Other Measures of Performance” in the MD&A for the three months ended March 31, 2018 for a reconciliation of these measures to the nearest
consolidated financial statement measure.
(11) The calculation of the Trust’s ACFO and related ACFO payout ratio, including comparative amounts, is a new financial metric pursuant to the February 2018
REALpac White Paper on ACFO. Comparison with other reporting issuers may not be appropriate. Payout ratio is calculated as declared distributions divided
by ACFO.
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
PORTFOLIO HIGHLIGHTS
As at
March 31, 2018
As at
March 31, 2017
in $000s, except for Unit and other non-financial data)
Number of retail and other properties 153 142
Number of properties under development 7 8
Number of office properties 1 1
Number of mixed-use properties 2 1
Total number of properties owned 163 152
Number of Walmarts / Supercentres 101 / 96 95 / 90
Number of Walmarts / Supercentres (including shadows) 115 / 109 109 / 103
Gross leasable area (sq. ft.) 34,158,051 32,024,887
Total GLA in Walmart anchored centres (sq. ft.) 28,540,589 27,071,086
Future estimated development area (sq. ft.) 3,960,992 4,068,000
Occupancy 98.0% 98.1%
Occupancy including executed leases 98.1% 98.4%
Average lease term to maturity 5.7 years 6.1 years
Net rental rate (per occupied sq. ft.) $15.29 $15.24
Net rental rate excluding anchors (per occupied sq. ft.) (1) $21.67 $21.83
Investment properties (2) 8,984,949 8,427,532
Total assets 9,416,938 8,886,478
Debt (2) 4,269,593 4,031,172
Total debt – Weighted average interest rate (3) 3.79% 3.71%
Secured debt – Weighted average contractual interest rate (4) 3.90% 3.78%
Secured debt – Weighted average maturity 4.5 years 4.6 years
Debt to aggregate assets 45.0% 45.0%
Debt to gross book value (5) 51.8% 52.5%
Secured debt to aggregate assets 24.8% 28.5%
Unencumbered assets to unsecured debt 1.8X 1.9X
Interest coverage (6) 3.1X 3.1X
Debt to adjusted EBITDA (7) 8.5X 8.4X
Equity (book value) 4,871,886 4,669,726
Units outstanding (8) 160,173,698 156,072,260
Three months ended
March 31, 2018
Three months ended
March 31, 2017
FFO with one-time adjustment and before transactional FFO (2)(9)(10) $0.56 $0.54
FFO with one-time adjustment and transactional FFO (2)(9)(10) $0.56 $0.54
Payout ratio to ACFO (2)(9)(10) 86.1% 88.4%
Payout ratio to ACFO with one-time adjustment (2)(9)(10)(11) 86.1% 85.5%
Surplus of ACFO with one-time adjustment over distributions declared 11,400 11,290
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
DISTRIBUTION REINVESTMENT PLAN
Unitholders who elect to participate will have their monthly cash distributions automatically
reinvested in units of SmartCentres at a price equal to 97% of the average TSX market price
over the 10 business days preceding the monthly distribution date.
SmartCentres' DRIP will be administered by Computershare Trust Company of Canada.
Interested unitholders can also obtain an information package and the necessary registration
forms from, or direct any inquiries/concerns regarding the DRIP to, Computershare Trust
Company of Canada via telephone at 1-800-564-6253 or via mail at:
SmartCentres Real Estate Investment Trust
c/o Computershare Trust Company of Canada
100 University Avenue, 9th Floor
Toronto, ON, M5J 2Y1
Canada
Attention: Dividend Reinvestment Department
DISTRIBUTION HISTORY
Per unit, paid monthly
2018
($)
2017
($)
2016
($)
2015
($)
2014
($)
January 0.14583 0.14167 0.13750 0.13340 0.12900
February 0.14583 0.14167 0.13750 0.13340 0.12900
March 0.14583 0.14167 0.13750 0.13340 0.12900
April 0.14167 0.13750 0.13340 0.12900
May 0.14167 0.13750 0.13340 0.12900
June 0.14167 0.13750 0.13340 0.12900
July 0.14167 0.13750 0.13340 0.12900
August 0.14167 0.13750 0.13340 0.12900
September 0.14167 0.13750 0.13340 0.12900
October 0.14583 0.14167 0.13750 0.13340
November 0.14583 0.14167 0.13750 0.13340
December 0.14583 0.14167 0.13750 0.13340
Total 0.43749 1.71252 1.66251 1.61310 1.56120
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
PERFORMANCE OF SMARTCENTRES UNITS
AVERAGE UNIT TRADING PRICE
Per unit
2018
($)
2017
($)
2016
($)
2015
($)
2014
($)
1st Quarter 29.76 32.47 31.33 30.17 25.37
2nd Quarter 32.22 34.78 29.45 26.52
3rd Quarter 30.66 36.59 29.75 26.23
4th Quarter 29.81 31.96 31.33 27.14
YTD / Annual 29.76 31.39 33.42 30.29 26.31
Closing trading
price at end of
period
29.11 30.91 32.29 30.19 27.30
AVERAGE DAILY VOLUME OF UNITS TRADED
2018
($)
2017
($)
2016
($)
2015
($)
2014
($)
1st Quarter 237,282 221,865 288,045 200,374 199,418
2nd Quarter 274,092 198,964 242,372 185,756
3rd Quarter 181,862 226,367 218,051 156,254
4th Quarter 215,099 278,983 334,127 184,375
Annual 237,282 223,428 247,612 248,924 181,379
MARKET CAPITALIZATION SUMMARY
Date Total Units Outstanding (1) Share price per Unit
($)
Market Capitalization
($)
March 31, 2018 160,173,698 29.11 4,662,656,349
December 31, 2017 159,720,126 30.91 4,936,949,095
December 31, 2016 155,686,295 32.29 5,027,110,466
December 31, 2015 154,088,207 30.19 4,651,922,969
December 31, 2014 136,315,194 27.30 3,721,404,796
(1) Total Units outstanding include Trust Units and LP Units, including LP Units classified as liabilities. LP Units classified as equity in the
consolidated financial statements are presented as non-controlling interests.
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
GROSS REVENUE AND AREA BY PROVINCE
GROSS REVENUE BY PROVINCE
1 - Ontario - 62.0%
2 - Quebec - 14.1%
3 - British Columbia - 8.5%
4 - Saskatchewan - 3.9%
5 - Manitoba - 3.4%
6 - Alberta - 3.3%
7 - Newfoundland and Labrador - 2.8%
8 - Nova Scotia - 0.9%
9 - New Brunswick - 0.7%
10 - Prince Edward Island - 0.4%
GROSS AREA BY PROVINCE
1 - Ontario - 58.4%
2 - Quebec - 15.2%
3 - British Columbia - 9.1%
4 - Alberta - 4.3%
5 - Saskatchewan - 4.3%
6 - Manitoba - 3.3%
7 - Newfoundland and Labrador - 3.0%
8 - Nova Scotia - 0.9%
9 - New Brunswick - 0.8%
10 - Prince Edward Island - 0.7%
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
TOP 25 TENANTS
Rank TenantNumber of
Stores
Gross Rental
Revenues(%)
Average Remaining
Lease Term(years)
1 Walmart 101 26.0 6.9
2 Canadian Tire, Mark's and FGL Sports 70 4.5 5.1
3 Winners, HomeSense, Marshalls 53 4.0 4.9
4 Loblaws and Shoppers Drug Mart 24 2.7 7.6
5 Lowe's, RONA 9 2.4 6.2
6 Sobeys 18 2.3 5.1
7 Reitmans 94 2.1 2.8
8 Best Buy 22 1.8 2.6
9 Dollarama 52 1.7 4.2
10 Michaels 25 1.5 4.1
11 LCBO 34 1.5 7.5
12 Staples 21 1.3 3.6
13 Cara Restaurants 51 1.3 5.1
14 Bonnie Togs 46 1.1 4.8
15 Gap Inc. 23 1.0 3.1
16 The Brick 9 1.0 3.4
17 Bulk Barn 51 1.0 6.2
18 Toys R Us 7 0.9 6.9
19 CIBC 27 0.9 3.0
20 Pacific West 39 0.8 4.6
21 Dollar Tree and Dollar Giant 27 0.8 4.7
22 Metro 8 0.8 4.2
23 Sail 4 0.8 8.6
24 GoodLife Fitness Clubs 11 0.8 8.3
25 Sleep Country 35 0.8 4.2
Total 861 63.8 6.1
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
LEASE EXPIRATION SCHEDULE
Year of Expiry Numberof Stores
Area(sq. ft.)
Area(%)
Annualized Base Rent
($)
AverageRent
($ psf)
Month-to-month and holdovers 120 375,136 1.1 7,258,337 19.35
2018 248 1,094,944 3.2 20,804,508 19.00
2019 445 3,244,584 9.5 48,398,773 14.92
2020 411 3,741,510 11.0 54,726,851 14.63
2021 408 3,790,460 11.1 54,471,503 14.37
2022 408 4,364,219 12.8 62,550,253 14.33
2023 425 3,834,132 11.2 63,777,537 16.63
2024 225 2,198,199 6.4 37,936,787 17.26
2025 138 1,574,833 4.6 21,546,059 13.68
2026 154 1,479,439 4.3 25,918,921 17.52
2027 139 2,252,946 6.6 33,275,938 14.77
2028 82 1,182,785 3.5 19,749,896 16.70
2029 26 1,592,453 4.7 19,683,466 12.36
2030 13 634,081 1.9 10,271,239 16.20
2031 15 480,449 1.4 8,190,515 17.05
2032 8 844,086 2.5 12,401,109 14.69
2033 6 228,716 0.7 3,092,504 13.52
Beyond 6 554,760 1.5 7,566,525 13.64
Vacant 208 690,319 2.0 — —
Total 3,485 34,158,051 100.0 511,620,723 15.29
Weighted Average Lease Expiry by area = 5.7 years
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
AREA BY AGE
Age Area(sq. ft.)
Area(%)
2002 - present 25,188,110 73.7
1995 - 2001 7,466,398 21.9
Before 1995 1,503,543 4.4
Total 34,158,051 100.0
Portfolio of high quality, newly developed assets with an
average age of 14.2 years and minimal capital expenditure
requirements.
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
FUTURE EARNOUTS AND DEVELOPMENTS
Year Area
(sq. ft.)
Total
Area
(%)
Income
($000s)
Gross
Commitment
($000s)
Invested
To-date
($000s)
Net
Commitment
($000s)
Yield /
Cap Rate
(%)
EARNOUTS
Committed Earnouts
2018 21,500 0.5% 346 4,979 730 4,249 6.9%
2019 and beyond 9,050 0.3% 283 3,819 108 3,711 7.4%
Subtotal Committed Earnouts 30,550 0.8% 629 8,798 838 7,960 7.1%
Uncommitted Earnouts
2018 20,387 0.5% 449 7,784 1,304 6,480 5.8%
2019 and beyond 463,330 11.7% 9,195 137,278 5,676 131,602 6.7%
Subtotal Uncommitted Earnouts 483,717 12.2% 9,644 145,062 6,980 138,082 6.6%
Total Earnouts 514,267 13.0% 10,273 153,860 7,818 (1) 146,042 6.7%
DEVELOPMENTS
Committed Developments
2018 124,992 3.2% 2,822 45,082 (2) 11,788 (2) 33,294 6.3% (3)
2019 and beyond 33,240 0.8% 709 10,874 (2) 6,998 (2) 3,876 6.5% (3)
Subtotal Committed Developments 158,232 4.0% 3,531 55,956 18,786 37,170 6.3%
Uncommitted Developments
2018 100,642 2.5% 6,227 63,648 (2) 47,485 (2) 16,163 9.8% (3)
2019 and beyond 3,187,851 80.5% 62,304 1,092,896 (2) 477,789 (2) 615,107 5.7% (3)
Subtotal Uncommitted Developments 3,288,493 83.0% 68,531 1,156,544 525,274 631,270 5.9%
Total Developments (4) 3,446,725 87.0% 72,062 1,212,500 544,060 (1) 668,440 5.9%
Total Earnouts and Developments 3,960,992 100.0% 82,335 1,366,360 551,878 814,482 6.0%
Non-cash Development Cost (5) 2,109
Vaughan Metropolitan Centre (“VMC”) (6) 55,345 (1)
Total before Mezzanine Financing 3,960,992 100.0% 82,335 1,366,360 614,362 (1) 814,482 6.0%
Options through Mezzanine Financing (7) 614,711
Total Potential Pipeline 4,575,703
(1) Under “Properties Under Development” in the MD&A for the three months ended March 31, 2018, Earnouts of $48,922, Developments of $469,456 and Investments in associates
relating to VMC of $95,984 comprise the total amount of $614,362. The amounts in the chart above have been adjusted for i) Earnouts that are expected to be completed after the
expiry of the Earnout options being reclassified as Developments and ii) the first phases of VMC relating to the office complexes referred to in Note 4 have been included as
Developments.
(2) Includes fair value adjustment for land.
(3) On a cost basis, the yield would be 6.0%, 6.8%, 9.3%, and 5.1%, respectively.
(4) Includes the Trust’s 50% ownership of the office complex in VMC with KPMG as lead tenant and a second office complex with PwC as lead tenant, scheduled to be completed by
2019.
(5) Represents net liability currently recorded.
(6) Future development lands relating to the Trust’s 50% ownership of the VMC, but excluding the office complexes in Note 4.
Estimated Costs ($M) Estimated Gain on Final Sale
Site Project Type
GLA
('000sf) /
Units
SRU
% Share 100%
SRU
ShareNOI at 100%
($M)
NOI at SRU
Share ($M)
Completion
Year Yield Profit %
SRU
Share Timing
1. VMC (Office Towers)(1)
a. KPMG (T#1)
b. PWC (T#2)
c. Office (T#3)
d. Office (T#4)
Office
Office
Office
Office
360sf
105sf
600sf
300sf
50%
50%
50%
50%
$180.0
$65.0
$310.0
$175.0
$90.0
$32.5
$155.0
$87.5
$10.2
$3.0
$17.4
$9.6
$5.1
$1.5
$8.7
$4.8
2016
2019
2023
2025
5.7%
4.5%-5.5%
5.0%-6.0%
5.0%-6.0%
—
—
—
—
—
—
—
—
—
—
—
—
2. Toronto Premium
Outlets(2)
Phase II (JV) Retail 144sf 50% $133.0 $66.5 $10.9 $5.4 Nov 2018 8.0%-8.5% — — —
3. Montreal Premium
Outlets(2)
Phase II (JV) Retail 140sf 50% $56.0 $28.0 $5.6 $2.7 2022-2023 9%-10% — — —
4. New Premium Outlets Premium (JV) Retail 360sf 50% $136.0 $68.0 $11.7 $5.9 2020 8.0%-8.5% — — —
5. Laval Centre(4)
Jadco (2 Bldgs) Apartments 338 Units 50% $76.5 $38.3 $4.3 $2.2 2019-2020 5.6% — — —
6. VMC (Condos)(4)
CentreCourt
CentreCourt
CentreCourt
Condo
Condo #1
Condo #2
Condo #3
Condo #4 & 5
551 Units
559 Units
606 Units
1,100 Units
25%
25%
25%
25%
$181
$189
$190
$380
$45.25
$47.25
$47.5
$95.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
2020
2020
2021
2023
N/A
N/A
N/A
N/A
25%-30%
25%-30%
20%-25%
20%-25%
25%
25%
25%
25%
2020
2020
2021
2023
7. Vaughan NW Fieldgate Townhomes 229 Units 50% $152.0 $76.0 N/A N/A 2020-2021 N/A 20%-25% 50%
2020-
2021
8. Ottawa Laurentian(4)
JV Partner (2
Bldgs) Apartments 300 Units 25% $86.0 $21.5 $4.9 $1.23 2020-2021 5.5%-6.5% — — —
9. Multiple Locations(4)
Self Storage (JV)
Self Storage
(4 to 5 new
facilities each
year)
500sf built
per year in
each of
years 1-5 50%
$52M per
year in
each of
years 1-5
$26M per
year in
each of
years 1-5
$4.8M net
new NOI
commences
annually on
stabilization (3)
$2.4M net
new NOI
commences
annually on
stabilization (3)
2019-2023 7.5%-8.5% — — —
10. StudioCentre
(Toronto) SRU-Penguin JV
Mixed-Use
(Office, Studio,
Hotel) 150sf 50% $53.0 $26.5 $3.4 $1.71 2019-2022 6.0%-7.0% — — —
20
SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
MAJOR MIXED-USE REAL ESTATE INITIATIVES
Estimated Costs ($M) Estimated Gain on Final Sale
Site Project Type
GLA
('000sf) /
Units
SRU
% Share 100%
SRU
ShareNOI at 100%
($M)
NOI at SRU
Share ($M)
Completion
Year Yield Profit %
SRU
Share Timing
11. VMC (Apartments)(4)
VMC Rental
Apartments Apartments 221 Units 25% $113.6 $28.4 $5.6 $1.4 2021-2022 4.9% — — —
12. Pointe-Claire
(Apartments)(4)
Rental Apartments
(2 Bldgs) Apartments 486 Units 50% $154.8 $77.4 $7.2 $3.6 2023 4.7% — — —
13. Pointe-Claire
(Condo)(4)
Condo Condo 194 Units 50% $54.8 $27.4 N/A N/A 2020 N/A 10%-15% 50% 2020
14 Multiple Locations(4)
Retirement
Homes (JV)
Retirement
Homes
(3 to 5 new
facilities each
year)
600sf built
per year in
each of
years 1-5 50%
$70M per
year per
site in
each of
years 1-5
$35M per
year per
site in
each of
years 1-5
$4.2M-$5.6M
net new NOI
commences
annually on
stabilization (3)
$2.1M-$2.8M
net new NOI
commences
annually on
stabilization (3)
2022-2024 6.0%-8.0% — — —
21
SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
MAJOR MIXED-USE REAL ESTATE INITIATIVES
Notes:(1) KPMG and PwC-YMCA towers are included in the future development pipeline as Developments.(2) The Phase II expansions for both the Toronto Premium Outlets and the Montreal Premium Outlets are included in the future development pipeline as Developments.(3) Stabilization is estimated to be 2 to 3 years after completion.(4) Estimated Transactional FFO Gains on Sale related to parcel sales of land into Joint Ventures estimated at 1%-2% of annual FFO at SmartCentres' ownership share.
In addition to the projects set out in the table above (with the exception of the projects listed in Notes 1 and 2), SmartCentres' pipeline also includes approximately 4.0 million square feet of future
developments as set out in the table shown on the “Future Earnouts and Developments” section . Also in addition to the above, SmartCentres has a further mixed-use development pipeline estimated at 4
million square feet in projects that are underway or active. Further, SmartCentres will initiate activities in the short-term to work towards development of a further estimated 12.5 million to 15 million square
feet in mixed-use initiatives that will be completed in the longer-term.
22
SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
RECOURSE LOANS TO DEVELOPERS
Project
Loan
Outstanding
($000s)
Committed
($000s)
Maturity Date
Interest
Rate
(%)
Option
(%) (7)
Total
Leasable
Area upon
Completion
(sq. ft.)
Potential Area
Upon Exercising
Purchase Option
(sq. ft.) (7)
Salmon Arm, BC (1)(2) 14,871 20,907 August 2018 4.80% — 215,431 —
Innisfil, ON (1)(3) 19,567 27,077 December 2020 3.58% — 139,744 —
Aurora (South), ON (4) 15,634 30,543 March 2022 4.40% 50% 192,000 —
Mirabel (Shopping Centre), QC (5) — 18,262 December 2022 7.50% — 256,000 96,500
Mirabel (Option Lands), QC (6) — 5,721 December 2022 7.50% — 178,068 —
Pitt Meadows, BC (4) 26,817 68,664 November 2023 4.84% 50% 75,000 —
Vaughan (7 & 427), ON 16,925 53,127 December 2023 5.63% 50% 302,029 37,500
Caledon (Mayfield), ON (4) 9,098 14,033 April 2024 4.69% 50% 203,730 101,865
Toronto (StudioCentre), ON (1)(4) 26,247 43,759 June 2024 4.66% 25% 911,322 227,831
Total 129,159 282,093 4.65%(8) 2,473,324 614,711
(1) The Trust owns a 50% interest in these properties, with the other 50% interest owned by Penguin. These loans are secured against Penguin's interest in the property.
(2) Monthly variable rate based on a fixed rate of 6.35% on loans outstanding up to $7.2 million and banker's acceptance rate plus 1.75% on any additional loans above $7.2 million.
(3) The monthly variable rate is based on the banker's acceptance rate plus 2.00%. The interest rate on this mortgage will reset in 2018 to the four-year Government of Canada bond
rate plus 4.0%, subject to a lower limit of 6.75% and an upper limit of 7.75%.
(4) These loans were amended during the three months ended March 31, 2017. See the "Loan Amendments" section below for details.
(5) The Trust owns a 33.3% interest in this property. The loan is secured against a 33.3% interest owned by Penguin, as well as a guarantee by Penguin.
(6) The Trust owns a 25% interest in this property. The loan is secured against a 25% interest owned by Penguin, as well as a guarantee by Penguin.
(7) The Trust has an option to purchase an additional purchase option percentage from the borrower in these properties upon a certain level of development and leasing being
achieved. As at December 31, 2017, it is management's expectation that the Trust will exercise these purchase options.
(8) Represents the weighted average effective interest rate.
Note: Of the $152.9 million of remaining loan advances available, $76.1 million is set aside as interest accrual reserve.
23
SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
INDIVIDUAL PROPERTY SUMMARY
Property Location Occupancy
(%)
Owned Rentable
Area
(sq. ft.)
Owned Rentable
Anchor Area (1)
(sq. ft.)
Non-Owned
Anchor Area (1)
(sq. ft.)
Anchors and Major Tenants
RETAIL PROPERTIES
BRITISH COLUMBIA
Chilliwack Mall Chilliwack, BC 100.0 126,625 46,544 — Safeway, Winners, Sport Chek
Courtenay SmartCentre Courtenay, BC 97.7 273,289 135,899 —
Walmart Supercentre, Winners,
Staples, Best Buy, Sport Chek,
Mark's, Reitmans
Cranbrook SmartCentre Cranbrook, BC 100.0 164,025 107,158 185,556
Walmart Supercentre, Real
Canadian Superstore*, Home
Hardware*, Sport Chek, Dollar
Tree
Cowichan Commons East Duncan, BC 94.3 249,677 188,680 235,732
Walmart Supercentre*, RONA*,
Canadian Tire, Home Depot, Best
Buy, Bulk Barn
Kamloops SmartCentre Kamloops, BC 96.7 232,800 143,619 —
Walmart Supercentre, Michaels,
Lordco Auto Parts, Pier 1 Imports,
Sleep Country
Langley SmartCentre Langley, BC 99.3 351,225 255,527 172,161
Walmart Supercentre, Home
Depot*, Save-on-Foods*, London
Drugs, Home Outfitters, Best Buy
Maple Ridge SmartCentre Maple Ridge, BC 94.2 226,874 146,521 —
Walmart Supercentre, Thrifty
Foods, Westminster Savings
Credit Union, Dollar Tree, Rexall
New Westminster
SmartCentreNew Westminster, BC 91.9 409,249 159,449 —
Walmart Supercentre, Home
Outfitters, Tommy Hilfiger, The
Gap, Carter's OshKosh
Peachtree Square Penticton, BC 95.0 54,915 — 175,000
Walmart Supercentre*, Sport
Chek, Dollar Tree, Valley First
Credit Union, Bulk Barn
Penticton Power Centre Penticton, BC 98.6 202,322 110,795 —
Real Canadian Superstore,
Staples, Winners, PetSmart,
Sleep Country, TD Canada Trust
Prince George
SmartCentrePrince George, BC 96.5 313,390 165,350 204,247
Walmart Supercentre, Home
Depot*, Canadian Tire*, Michaels,
Old Navy, Mark's, Petland
Salmon Arm
SmartCentre**Salmon Arm, BC 100.0 67,324 48,345 —
Walmart Supercentre, Winners,
Dollarama, Bulk Barn
Surrey West SmartCentre Surrey, BC 99.4 188,264 133,943 —
Walmart Supercentre, Dollar
Tree, Ardene, Sleep Country,
Reitmans, Carter's OshKosh
Vernon SmartCentre Vernon, BC 100.0 246,552 144,782 50,300
Walmart Supercentre, RONA*,
Best Buy, Value Village, Mark's,
Petland, Sleep Country
Subtotal British
Columbia96.9 3,106,531 1,786,612 1,022,996
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
INDIVIDUAL PROPERTY SUMMARY
Property Location Occupancy
(%)
Owned Rentable
Area
(sq. ft.)
Owned Rentable
Anchor Area (1)
(sq. ft.)
Non-Owned
Anchor Area (1)
(sq. ft.)
Anchors and Major Tenants
ALBERTA
Calgary Southeast
SmartCentreCalgary, AB 100.0 246,085 199,758 —
Walmart Supercentre, London
Drugs, Mark's, Reitmans, Carter's
OshKosh, Bulk Barn
Edmonton East
SmartCentre**Edmonton, AB 100.0 180,100 94,835 —
Walmart Supercentre, Safeway,
Winners, Fit4Less, Petland,
Dollarama
Edmonton Northeast
SmartCentreEdmonton, AB 97.1 274,353 161,925 —
Walmart Supercentre, Your Dollar
Store With More, Michaels, Bulk
Barn, Moores, Penningtons
Lethbridge II SmartCentre Lethbridge, AB 100.0 53,392 40,373 — Sobeys
Lethbridge SmartCentre Lethbridge, AB 98.9 333,092 194,564 95,000
Walmart Supercentre, Home
Depot*, Best Buy, Ashley
Furniture, Mark's, Gap Outlet
St. Albert SmartCentre St. Albert, AB 100.0 251,329 197,101 91,737
Walmart Supercentre, Save-on-
Foods*, RONA*, Dollarama,
Canadian Western Bank
Sylvan Lake SmartCentre Sylvan Lake, AB 100.0 131,983 115,829 68,947Walmart Supercentre, Canadian
Tire*, Dollarama
Subtotal Alberta 99.2 1,470,334 1,004,385 255,684
SASKATCHEWAN
Golden Mile Shopping
CentreRegina, SK 93.9 259,245 93,938 —
Loblaws, GoodLife Fitness,
Rainbow Cinemas, Dollarama,
Bison Liquor, RBC
Regina East SmartCentre
(I)Regina, SK 100.0 364,681 249,523 —
Walmart Supercentre,
HomeSense, London Drugs, Best
Buy, Michaels, Pier 1 Imports
Regina East SmartCentre
(II)Regina, SK 98.6 198,134 107,608 130,000
RONA, Real Canadian
Superstore*, Wholesale Sports,
PetSmart, Old Navy, Petland
Regina North SmartCentre Regina, SK 99.5 276,251 206,339 —
Walmart Supercentre, IGA,
Mark's, Dollarama, TD Canada
Trust, Reitmans, Bulk Barn
Saskatoon South
SmartCentreSaskatoon, SK 100.0 380,642 194,210 109,084
Walmart Supercentre, Home
Depot*, HomeSense, The Brick,
Ashley Furniture, Golf Town
Subtotal Saskatchewan 98.7 1,478,953 851,618 239,084
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
INDIVIDUAL PROPERTY SUMMARY
Property Location Occupancy
(%)
Owned Rentable
Area
(sq. ft.)
Owned Rentable
Anchor Area (1)
(sq. ft.)
Non-Owned
Anchor Area (1)
(sq. ft.)
Anchors and Major Tenants
MANITOBA
Kenaston Common
SmartCentreWinnipeg, MB 100.0 257,222 98,570 143,613
RONA, Costco*, Indigo Books,
Golf Town, Petland, Nygard,
CIBC, HSBC, RBC
Winnipeg Southwest
SmartCentreWinnipeg, MB 95.1 528,192 281,606 95,000
Walmart Supercentre, Home
Depot*, Safeway, Home
Outfitters, HomeSense, Urban
Planet
Winnipeg West
SmartCentreWinnipeg, MB 98.0 354,679 171,146 75,240
Walmart Supercentre, Canadian
Tire*, Sobeys, Winners, Value
Village, Sport Chek, Staples
Subtotal Manitoba 97.1 1,140,093 551,322 313,853
ONTARIO
Alliston SmartCentre Alliston, ON 100.0 170,770 151,709 —Walmart Supercentre, Dollarama,
Tim Hortons
Ancaster SmartCentre Ancaster, ON 99.2 264,785 163,794 74,018
Walmart Supercentre, Canadian
Tire*, Winners, GoodLife Fitness,
Bouclair, Dollar Tree
Aurora North SmartCentre Aurora, ON 99.1 508,567 313,637 —
Walmart Supercentre, RONA,
Best Buy, Golf Town, LCBO,
Dollarama, RBC, TD Canada
Trust
Aurora SmartCentre Aurora, ON 100.0 51,186 — —Winners, Healthy Planet, Bank of
Nova Scotia
Barrie Essa Road
Shopping CentreBarrie, ON 90.9 104,906 35,152 —
Food Basics, Pharma Plus,
Dollarama, Anytime Fitness, Pet
Valu, Tim Hortons
Barrie North SmartCentre Barrie, ON 100.0 234,700 160,727 81,373
Walmart Supercentre, Loblaws*,
Old Navy, Carter's OshKosh,
Addition-Elle, Reitmans
Barrie South SmartCentre Barrie, ON 98.5 389,561 243,629 —
Walmart Supercentre, Sobeys,
Winners, La-Z-Boy, PetSmart,
Stitches, Dollar Tree
Bolton SmartCentre Bolton, ON 99.2 242,444 161,864 —Walmart Supercentre, LCBO,
Mark's, The Beer Store, Reitmans
Bracebridge SmartCentre Bracebridge, ON 100.0 142,501 115,779 90,000
Walmart Supercentre, Home
Depot*, Dollar Tree, Boston
Pizza, Bulk Barn
26
SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
INDIVIDUAL PROPERTY SUMMARY
Property Location Occupancy
(%)
Owned Rentable
Area
(sq. ft.)
Owned Rentable
Anchor Area (1)
(sq. ft.)
Non-Owned
Anchor Area (1)
(sq. ft.)
Anchors and Major Tenants
Bradford SmartCentre Bradford, ON 100.0 241,701 168,571 —
Walmart Supercentre, GoodLife
Fitness, Dollarama, Bulk Barn,
CIBC, RBC
Bramport SmartCentre Brampton, ON 100.0 163,450 45,877 37,082
LA Fitness, Value Village, LCBO,
Dollarama, Swiss Chalet, CIBC,
Bank of Montreal
Bramport SmartCentre (II) Brampton, ON 100.0 37,857 37,857 — No Frills
Brampton East
SmartCentreBrampton, ON 100.0 360,695 243,610 —
Walmart Supercentre, The Brick,
Winners, Staples, Mark's, Dollar
Tree, Carter's OshKosh
Brampton North
SmartCentreBrampton, ON 83.9 58,794 — 62,496
Fortinos*, Shoppers Drug Mart,
RBC
Brampton Northeast
SmartCentreBrampton, ON 100.0 233,197 153,455 —
Walmart Supercentre, GoodLife
Fitness, LCBO, Dollarama, CIBC,
Bank of Nova Scotia, RBC
Kingspoint Shopping
CentreBrampton, ON 98.2 202,236 76,430 —
Giant Tiger, GoodLife Fitness,
Shoppers Drug Mart, The Beer
Store
Brockville SmartCentre Brockville, ON 100.0 144,084 — 322,054
Walmart Supercentre*, Real
Canadian Superstore*, Home
Depot*, Winners, Michaels, LCBO
Burlington (Appleby)
SmartCentreBurlington, ON 100.0 151,115 100,646 —
Toys R Us, LA Fitness, Shoppers
Drug Mart, Golf Town, Bank of
Montreal
Burlington North
SmartCentreBurlington, ON 100.0 226,451 161,127 —
Walmart Supercentre, Dollar
Tree, Reitmans, Moores, Bank of
Nova Scotia
Cambridge SmartCentre (I) Cambridge, ON 93.0 744,417 323,394 —
Walmart Supercentre, RONA, LA
Fitness, Best Buy, Staples, Bed
Bath & Beyond, Michaels
Cambridge SmartCentre
(II)Cambridge, ON 66.6 23,938 — 224,695
Canadian Tire*, Home Depot*,
Henry's Photography, Allstate
Insurance
Carleton Place
SmartCentreCarleton Place, ON 97.9 148,885 115,811 —
Walmart Supercentre, Dollarama,
Mark's, Bulk Barn
Chatham SmartCentre** Chatham, ON 99.3 154,545 101,053 91,275
Walmart Supercentre, Real
Canadian Superstore*, Winners,
Mark's, PetSmart, Dollarama,
LCBO
Cobourg SmartCentre Cobourg, ON 98.9 197,935 142,634 85,433
Walmart Supercentre, Home
Depot*, Winners, Dollar Tree,
Swiss Chalet
27
SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
INDIVIDUAL PROPERTY SUMMARY
Property Location Occupancy
(%)
Owned Rentable
Area
(sq. ft.)
Owned Rentable
Anchor Area (1)
(sq. ft.)
Non-Owned
Anchor Area (1)
(sq. ft.)
Anchors and Major Tenants
Cornwall SmartCentre Cornwall, ON 100.0 171,176 154,510 —Walmart Supercentre, Dollar
Tree, Bank of Montreal
Leaside SmartCentre East York, ON 98.0 257,919 108,632 113,000
Home Depot*, Winners, Sobeys,
Sport Chek, Best Buy, LCBO,
Golf Town, RBC
Etobicoke (Index)
SmartCentreEtobicoke, ON 100.0 188,059 107,838 —
Sail, Marshalls, PetSmart, Party
Packagers, Structube, Bouclair,
Penningtons
Etobicoke SmartCentre Etobicoke, ON 100.0 294,734 199,824 135,000
Walmart Supercentre, Home
Depot*, Best Buy, Winners, Old
Navy, Mark's, Urban Barn
Rexdale SmartCentre Etobicoke, ON 100.0 35,174 — 126,083Walmart Supercentre*,
Dollarama, Bank of Nova Scotia
Fergus SmartCentre Fergus, ON 100.0 109,652 95,035 — Walmart Supercentre, LCBO
Fort Erie SmartCentre Fort Erie, ON 100.0 12,738 — 140,142Walmart Supercentre*, No Frills*,
LCBO, Bank of Nova Scotia
Guelph SmartCentre Guelph, ON 97.9 296,116 171,396 110,000
Walmart Supercentre, Home
Depot*, HomeSense, Michaels,
Dollarama, CIBC, RBC
Toronto Premium Outlets** Halton Hills, ON 100.0 180,332 — —
Saks Fifth Avenue OFF 5TH, Polo
Ralph Lauren, Restoration
Hardware, Nike, Columbia, Coach
Hamilton South
SmartCentreHamilton, ON 100.0 241,795 124,524 —
Walmart Supercentre, Shoppers
Drug Mart, LCBO, Dollarama, The
Beer Store, CIBC
Huntsville SmartCentre Huntsville, ON 100.0 126,436 84,861 68,837
Walmart Supercentre, Your
Independent Grocer*, Dollar Tree,
Mark's, Reitmans
Kanata SmartCentre Kanata, ON 99.2 201,548 155,739 —Walmart Supercentre, Dollarama,
Bulk Barn, CIBC, RBC
Laurentian Power Centre Kitchener, ON 100.0 35,200 — 220,978 RONA*, Zehrs*, Staples, CIBC
London East Argyle Mall London, ON 98.4 424,986 224,281 —
Walmart Supercentre, Toys R Us,
No Frills, Winners, Staples, Sport
Chek, GoodLife Fitness
28
SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
INDIVIDUAL PROPERTY SUMMARY
Property Location Occupancy
(%)
Owned Rentable
Area
(sq. ft.)
Owned Rentable
Anchor Area (1)
(sq. ft.)
Non-Owned
Anchor Area (1)
(sq. ft.)
Anchors and Major Tenants
London North
SmartCentre**London, ON 99.3 250,118 131,671 108,262
Walmart Supercentre, Canadian
Tire*, Marshalls, Winners, Sport
Chek, HomeSense, Old Navy
London Northwest
SmartCentreLondon, ON 100.0 36,214 — 137,316
Lowe's*, Boston Pizza, Bank of
Montreal, Montana's, Kelsey's,
RBC
Markham East
SmartCentre**Markham, ON 100.0 69,008 61,207 —
Walmart Supercentre, Dollar
Tree, CIBC
Markham Woodside
SmartCentre**Markham, ON 100.0 179,950 80,385 —
Home Depot, Longo's*, Winners,
Staples, Chapters, Michaels, La-
Z-Boy, LCBO
Milton Walmart Centre** Milton, ON 94.1 116,602 — 227,896
Walmart Supercentre*, Canadian
Tire*, Sport Chek, Indigo,
Michaels, Mark's, Staples, RBC
Burnhamthorpe
SmartCentreMississauga, ON 85.1 199,970 — —
Government, Swiss Chalet,
Remax
Creekside Crossing** Mississauga, ON 100.0 120,017 91,385 —
Walmart Supercentre, Costco,
LCBO, Dollarama, The Beer
Store, CIBC, TD Canada Trust,
RBC
Mississauga (Erin Mills)
SmartCentreMississauga, ON 96.3 290,562 171,973 —
Walmart Supercentre, No Frills,
GoodLife Fitness, Shoppers Drug
Mart, Dollarama
Mississauga (Go Lands)
SmartCentreMississauga, ON 100.0 113,005 50,696 115,000
Real Canadian Superstore*, Toys
R Us, Marshalls, Dollarama, TD
Canada Trust
Mississauga (Meadowvale)
SmartCentreMississauga, ON 93.5 557,845 319,275 —
Walmart Supercentre, RONA,
Winners, Staples, Michaels,
Mark's, PetSmart, LCBO
Niagara Falls SmartCentre Niagara Falls, ON 100.0 249,745 183,698 —
Walmart Supercentre, PetSmart,
Penningtons, Dollarama, LCBO,
Sleep Country, Bulk Barn
401 & Weston Power
Centre**North York, ON 100.0 108,662 58,071 180,000
Real Canadian Superstore*,
Canadian Tire, The Brick, Best
Buy, LCBO, Mark's, Dollar Tree
Oakville SmartCentre Oakville, ON 99.6 461,226 314,588 —
Walmart Supercentre, Real
Canadian Superstore, LCBO, The
Beer Store, The Keg, CIBC, RBC
South Oakville Centre Oakville, ON 100.0 181,577 41,289 —
Metro, Winners, Shoppers Drug
Mart, LCBO, The Beer Store,
CIBC, TD Canada Trust
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MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
INDIVIDUAL PROPERTY SUMMARY
Property Location Occupancy
(%)
Owned Rentable
Area
(sq. ft.)
Owned Rentable
Anchor Area (1)
(sq. ft.)
Non-Owned
Anchor Area (1)
(sq. ft.)
Anchors and Major Tenants
Orillia SmartCentre Orillia, ON 100.0 241,659 165,902 —Walmart Supercentre, Winners,
Staples, Michaels, Dollarama
Orleans SmartCentre (I) Orleans, ON 97.4 384,015 232,635 117,136
Walmart Supercentre, Canadian
Tire*, Home Outfitters, Best Buy,
Shoppers Drug Mart
Orleans SmartCentre (II)** Orleans, ON 100.0 27,000 — — Indigo Books, Marshalls
Oshawa North
SmartCentreOshawa, ON 100.0 558,159 341,156 116,348
Walmart Supercentre, Real
Canadian Superstore, Home
Depot*, Marshalls, Sport Chek,
Best Buy, Michaels
Oshawa North
SmartCentre (II)Oshawa, ON 100.0 163,259 34,109 —
Home Outfitters, Winners,
PetSmart, Party Packagers,
Boston Pizza, TD Canada Trust
Oshawa South
SmartCentreOshawa, ON 99.4 536,707 430,536 —
Walmart Supercentre, Lowe's,
Sail, CIBC, Dollarama, Moores,
Reitmans, RBC
Ottawa (Laurentian Place)
SmartCentre**Ottawa, ON 97.4 128,939 112,391 —
Walmart Supercentre, Stantec,
CIBC
Ottawa South
SmartCentre**Ottawa, ON 93.9 261,569 156,471 —
Walmart Supercentre, Loblaws,
Cineplex Odeon, Marshalls,
Winners, Chapters
Owen Sound SmartCentre Owen Sound, ON 100.0 163,101 105,963 130,000
Walmart Supercentre, Home
Depot*, Penningtons, Dollarama,
Carter's OshKosh, Reitmans
Pickering SmartCentre Pickering, ON 98.2 546,194 403,289 82,000
Walmart Supercentre, Lowe's,
Sobeys, Canadian Tire*, Toys R
Us, Winners, PetSmart, LCBO
Port Elgin SmartCentre Port Elgin, ON 100.0 115,524 115,524 — Walmart Supercentre
Port Perry SmartCentre Port Perry, ON 100.0 138,789 92,473 —
Walmart Supercentre, LCBO,
Dollarama, Mark's, Bulk Barn,
Bank of Nova Scotia
Richmond Hill
SmartCentre**Richmond Hill, ON 98.7 136,306 94,458 —
Walmart Supercentre, Food
Basics, Shoppers Drug Mart,
HSBC, Bank of Montreal
Rockland SmartCentre Rockland, ON 99.0 147,592 115,890 24,253Walmart Supercentre, Rona*,
Dollarama, LCBO, Boston Pizza
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
INDIVIDUAL PROPERTY SUMMARY
Property Location Occupancy
(%)
Owned Rentable
Area
(sq. ft.)
Owned Rentable
Anchor Area (1)
(sq. ft.)
Non-Owned
Anchor Area (1)
(sq. ft.)
Anchors and Major Tenants
Sarnia SmartCentre Sarnia, ON 99.4 342,617 214,513 —
Walmart Supercentre, Winners,
Michaels, PetSmart, LCBO,
Dollarama, Penningtons
Scarborough (1900
Eglinton) SmartCentreScarborough, ON 98.3 380,090 254,693 —
Walmart Supercentre, Winners,
Mark's, LCBO, David's Bridal,
Bank of Montreal
Scarborough East
SmartCentreScarborough, ON 100.0 282,156 225,385 —
Walmart Supercentre, Cineplex
Odeon, LCBO, Reitmans, Boston
Pizza, Sleep Country
Simcoe SmartCentre Simcoe, ON 100.0 129,876 111,294 —Walmart Supercentre, LCBO,
Dollar Tree
Hartzel Plaza St. Catharines, ON 100.0 67,972 34,522 —Food Basics, Provincial
Government
Lincoln Value Centre St. Catharines, ON 93.0 327,596 214,891 —Walmart Supercentre, Canadian
Tire, No Frills, Dollarama
St. Catharines West
SmartCentre (I)St. Catharines, ON 99.6 370,106 230,513 182,132
Walmart Supercentre, Real
Canadian Superstore*, Canadian
Tire*, Home Outfitters, Best Buy
St. Catharines West
SmartCentre (II)St. Catharines, ON 95.8 120,438 35,108 —
The Brick, Michaels, Shoppers
Drug Mart, Golf Town, Bouclair
St. Thomas SmartCentre St. Thomas, ON 96.4 224,390 138,567 196,212
Walmart Supercentre, Real
Canadian Superstore*, Canadian
Tire*, Staples, Dollar Tree
Centennial Parkway Plaza Stoney Creek, ON 90.0 114,042 39,271 —Food Basics, JYSK, King's Buffet,
Salvation Army Thrift Store
Stoney Creek SmartCentre Stoney Creek, ON 99.5 257,064 228,795 —Walmart Supercentre, Toys R Us,
Dollar Tree
Stouffville SmartCentre Stouffville, ON 100.0 162,968 69,283 162,633
Walmart Supercentre*, Canadian
Tire, Winners, Staples,
Dollarama, Bouclair, Bulk Barn
Sudbury South
SmartCentreSudbury, ON 100.0 233,046 183,708 —
Walmart Supercentre, LCBO,
Mark's, Dollarama, Bouclair
Toronto Stockyards
SmartCentreToronto, ON 100.0 8,615 — 128,194
Walmart Supercentre*, Bank of
Montreal, CitiFinancial
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
INDIVIDUAL PROPERTY SUMMARY
Property Location Occupancy
(%)
Owned Rentable
Area
(sq. ft.)
Owned Rentable
Anchor Area (1)
(sq. ft.)
Non-Owned
Anchor Area (1)
(sq. ft.)
Anchors and Major Tenants
Westside Mall Toronto, ON 95.8 144,405 110,019 —Canadian Tire, FreshCo, Dollar
Tree, Rogers, CIBC
Yorkgate Shopping Centre Toronto, ON 93.4 214,701 74,907 —
No Frills, City of Toronto, Planet
Fitness, Seneca College,
Dollarama
Rutherford Village
Shopping CentreVaughan, ON 96.7 104,301 48,890 —
Sobeys, TD Canada Trust,
Rogers Video, Tim Hortons
Vaughan (400 & 7)
SmartCentreVaughan, ON 100.0 216,342 124,989 100,000
Sail, The Brick, Home Depot*,
Value Village, GoodLife Fitness,
Fabricland
Vaughan Northwest
SmartCentreVaughan, ON 95.9 172,170 128,791 — Walmart Supercentre, CIBC
Waterloo SmartCentre Waterloo, ON 100.0 181,623 128,005 —Walmart Supercentre, Value
Village, Mark's, Dollarama
Welland SmartCentre Welland, ON 100.0 240,663 221,327 100,667Walmart Supercentre, Canadian
Tire*, RONA, Mark's, Dollar Tree
Whitby North SmartCentre Whitby, ON 100.0 279,153 178,841 148,571
Walmart Supercentre, Real
Canadian Superstore*, Mark's,
LCBO, Bank of Nova Scotia
Whitby Northeast
SmartCentreWhitby, ON 100.0 39,249 — —
Boston Pizza, Swiss Chalet, RBC,
Popeyes
Whitby Shores Shopping
CentreWhitby, ON 100.0 85,602 39,919 —
Metro, LCBO, Bank of Nova
Scotia, Lovell Drugs, Pet Valu,
Tim Hortons
Windsor South
SmartCentreWindsor, ON 98.4 230,967 129,121 —
Walmart Supercentre, Part
Source, Dollarama, PetSmart,
Moores, The Beer Store, CIBC
Woodbridge SmartCentre** Woodbridge, ON 98.1 216,983 32,630 142,073
Canadian Tire*, Fortinos*,
Winners, Best Buy, Toys R Us,
Chapters, Michaels, Sport Chek
Woodstock SmartCentre Woodstock, ON 97.9 257,220 170,764 91,254
Walmart Supercentre, Canadian
Tire*, Staples, Mark's, Carter's
OshKosh, CIBC, Reitmans
Subtotal Ontario 98.2 19,662,254 11,717,177 4,472,413
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
INDIVIDUAL PROPERTY SUMMARY
Property Location Occupancy
(%)
Owned Rentable
Area
(sq. ft.)
Owned Rentable
Anchor Area (1)
(sq. ft.)
Non-Owned
Anchor Area (1)
(sq. ft.)
Anchors and Major Tenants
QUEBEC
Blainville SmartCentre Blainville, QC 100.0 197,812 131,537 —
Walmart Supercentre, Winners,
Dollarama, Bulk Barn, Bank of
Nova Scotia, RBC
Hull SmartCentre** Hull, QC 100.0 161,239 80,824 326,717
Walmart Supercentre, Loblaws*,
RONA*, Famous Players*, Super
C*, Winners, Staples
Kirkland SmartCentre Kirkland, QC 100.0 207,216 202,271 — Walmart Supercentre, The Brick
Lachenaie SmartCentre** Lachenaie, QC 100.0 141,292 78,432 —
Walmart Supercentre,
HomeSense, Michaels, SAQ,
Bouclair, Structube
Laval East SmartCentre Laval, QC 97.2 540,056 340,736 —
Walmart Supercentre, Canadian
Tire, IGA, Winners, Michaels,
Bouclair, Dollarama, SAQ
Laval West SmartCentre Laval, QC 97.3 577,678 280,074 124,000
Walmart Supercentre, RONA,
Canadian Tire*, IGA*,
Archambault, Marshalls, Michaels
Mascouche North
SmartCentreMascouche, QC 87.1 62,800 — 120,000
RONA*, Jean Coutu, Structube,
SAQ, McDonald's, Bulk Barn
Mascouche SmartCentre Mascouche, QC 100.0 407,799 261,834 —
Walmart Supercentre, IGA, Home
Outfitters, Winners, Staples, Best
Buy, Bouclair, Mark's
Montreal Premium
Outlets**Mirabel, QC 94.4 182,976 — —
The Bay Outlet, Polo Ralph
Lauren, Old Navy, Nike, Urban
Planet, Tommy Hilfiger, Coach
Montreal (Decarie)
SmartCentre**Montreal, QC 96.4 132,434 83,858 —
Walmart, Toys R Us, Ardene,
Baton Rouge, Suzy Shier, P.F.
Chang's, Bulk Barn
Montreal North
SmartCentreMontreal, QC 96.9 267,713 173,668 —
Walmart Supercentre, IGA,
Winners, Dollarama, Sleep
Country, Bulk Barn, TD Canada
Trust
Place Bourassa Mall Montreal, QC 82.6 266,148 130,608 —
Canadian Tire, Super C,
Pharmaprix, L'Aubainerie, Yellow,
Urban Depot, Ardene
Pointe Claire SmartCentre Pointe Claire, QC 98.4 384,915 234,402 —
Walmart Supercentre, Home
Depot, Marks, Dollarama, Baron
Sports, Pier 1 Imports
Rimouski SmartCentre Rimouski, QC 98.9 243,740 127,087 104,973
Walmart Supercentre, Tanguay*,
Super C*, Winners, Best Buy,
SAQ, Dollarama, Clement,
Scores
Saint-Constant
SmartCentreSaint-Constant, QC 97.8 361,610 202,613 95,000
Walmart Supercentre, Home
Depot*, Super C, L’Aubainerie
Concept Mode, Michaels
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
INDIVIDUAL PROPERTY SUMMARY
Property Location Occupancy
(%)
Owned Rentable
Area
(sq. ft.)
Owned Rentable
Anchor Area (1)
(sq. ft.)
Non-Owned
Anchor Area (1)
(sq. ft.)
Anchors and Major Tenants
Saint-Jean SmartCentre Saint-Jean, QC 97.7 249,981 153,988 80,000
Walmart Supercentre, Maxi*,
Michaels, Mark's, Bouclair,
Reitmans, TD Canada Trust
Saint-Jerome SmartCentre Saint-Jerome, QC 100.0 164,001 44,856 246,705
Walmart Supercentre*, Home
Depot*, IGA, Best Buy, Michaels,
Bouclair, Dollarama
Sherbrooke SmartCentre Sherbrooke, QC 99.2 243,804 196,847 199,588
Walmart Supercentre, Canadian
Tire*, Home Depot*, The Brick,
Michaels, Mark's
Valleyfield SmartCentre Valleyfield, QC 100.0 188,252 133,439 —
Walmart Supercentre, Dollarama,
SAQ, Reitmans, Claire France,
Yellow
Vaudreuil SmartCentre Vaudreuil-Dorion, QC 100.0 16,941 — 159,190Walmart Supercentre*, Brunet,
Coco Fruitti
Victoriaville SmartCentre Victoriaville, QC 100.0 37,784 — 289,519
Walmart Supercentre*, Home
Depot*, Maxi*, Winners, Carter's
OshKosh, Bulk Barn, Reitmans
Subtotal Quebec 97.3 5,036,191 2,857,074 1,745,692
NEW
BRUNSWICK
Fredericton North
SmartCentreFredericton, NB 100.0 11,390 — 274,906
Walmart Supercentre*, Canadian
Tire*, Kent*, Dollarama
Saint John SmartCentre Saint John, NB 91.4 271,694 173,390 182,122
Walmart Supercentre, Kent*,
Canadian Tire*, Winners, Best
Buy, Old Navy, Pier 1 Imports
Subtotal New Brunswick 91.7 283,084 173,390 457,028
NOVA SCOTIA
Colby Village Plaza Dartmouth, NS 97.1 152,633 108,659 —
Walmart, Atlantic Superstore,
Cleve's Source for Sports,
Pharma Save, Bank of Nova
Scotia
Halifax Bayers Lake
CentreHalifax, NS 96.4 167,921 35,635 80,000
Atlantic Superstore*, Bed, Bath
and Beyond, Winners, Cleve's
Warehouse Sporting Goods
Subtotal Nova Scotia 96.7 320,554 144,294 80,000
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SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
INDIVIDUAL PROPERTY SUMMARY
Property Location Occupancy
(%)
Owned Rentable
Area
(sq. ft.)
Owned Rentable
Anchor Area (1)
(sq. ft.)
Non-Owned
Anchor Area (1)
(sq. ft.)
Anchors and Major Tenants
PRINCE EDWARD ISLAND
Charlottetown SmartCentre Charlottetown, PE 100.0 225,057 127,159 80,000
Walmart Supercentre, Toys R
Us*, Michaels, Best Buy, Old
Navy, Gap Outlet
Subtotal Prince Edward Island 100.0 225,057 127,159 80,000
NEWFOUNDLAND
Corner Brook SmartCentre Corner Brook, NL 100.0 178,988 106,352 136,327
Walmart, Canadian Tire*,
Dominion (Loblaw)*, Staples,
Mark's, Buck or Two, Bulk Barn
Mount Pearl SmartCentre Mount Pearl, NL 100.0 268,534 161,001 174,047
Walmart, Dominion (Loblaw)*,
Canadian Tire*, Staples,
GoodLife Fitness, Mark's, CIBC
Pearlgate Shopping Centre Mount Pearl, NL 88.9 42,993 — —Shoppers Drug Mart, Bulk Barn,
TD Canada Trust
St. John's Central
SmartCentreSt. John's, NL 100.0 157,773 48,808 311,149
Walmart*, Home Depot*,
Canadian Tire*, Sobeys, Staples,
Mark's, Dollarama, Moores
St. John's East
SmartCentreSt. John's, NL 100.0 371,343 128,273 102,818
Walmart, Dominion (Loblaw)*,
Winners, Marshalls, Michaels,
Sport Chek, Old Navy
Subtotal Newfoundland 99.5 1,019,631 444,434 724,341
Total Retail Properties 98.0 33,902,461 19,817,244 9,521,091
OFFICE PROPERTIES
British Colonial Building Toronto, ON 100.0 16,226 — — Irish Embassy Pubs
Total Office Properties 100.0 16,226 — —
35
SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
INDIVIDUAL PROPERTY SUMMARY
Property Location Occupancy
(%)
Owned Rentable
Area
(sq. ft.)
Owned Rentable
Anchor Area (1)
(sq. ft.)
Non-Owned
Anchor Area (1)
(sq. ft.)
Anchors and Major Tenants
MIXED-USE PROPERTIES
Vaughan Metropolitan
CentreVaughan, ON 100.0 239,364 121,673 —
Walmart Supercentre, KPMG,
GFL, FM Global, Miller Thomson
LLP, Harley Davidson
Laval Centre Laval, QC 100.0 159,779 159,779 130,000 Walmart Supercentre, Leon's*
Total Mixed-Use Properties 100.0 399,143 281,452 130,000
DEVELOPMENT
PROPERTIES
Quesnel SmartCentre Quesnel, BC — — — 82,316 Walmart Supercentre*
Dunnville SmartCentre Dunnville, ON — — — 129,343 Canadian Tire*, Sobeys*
Innisfil SmartCentre** Innisfil, ON — — — — —
StudioCentre** Toronto, ON — — — — —
Jonquiere SmartCentre Jonquiere, QC — — — — —
Mirabel SmartCentre (I)** Mirabel, QC — — — — —
Mirabel SmartCentre (II)** Mirabel, QC — — — — —
Total Development Properties — — — 211,659
TOTAL PORTFOLIO 98.0 34,158,051 19,938,917 9,732,750
* Non-owned anchor.
** The Trust has a partial ownership interest (the Trust owns a 25% interest in Mirabel SmartCentre (II), a 30% interest in Creekside Crossing, a 33.3% interest in Mirabel
SmartCentre (I), a 40% interest in Markham East SmartCentre, a 44.4% interest in 401 & Weston Power Centre, a 49.9% interest in Hull SmartCentre, a 60% interest in
Orleans SmartCentre (II), and 50% interests in Chatham SmartCentre, Edmonton East SmartCentre, Innisfil SmartCentre, Lachenaie SmartCentre, London North
SmartCentre, Markham Woodside SmartCentre, Milton Wal-Mart Centre, Montreal (Decarie) SmartCentre, Montreal Premium Outlets, Ottawa (Laurentian Place)
SmartCentre, Ottawa South SmartCentre, Richmond Hill SmartCentre, Salmon Arm SmartCentre, StudioCentre, Toronto Premium Outlets, Vaughan SmartCentre, and
Woodbridge SmartCentre).
(1) Anchors are tenants in excess of 30,000 square feet.
GENERAL
INFORMATION
36
SMARTCENTRES REAL ESTATE INVESTMENT TRUST
MARCH 2018 SUPPLEMENTAL INFORMATION PACKAGE
Stock Exchange Listing: The Toronto Stock Exchange (TSX)
Trading Symbols: Trust Units SRU.UN
5.50% Convertible Debentures SRU.DB.B
Corporate Office: SmartCentres Real Estate Investment Trust
700 Applewood Crescent, Suite 200
Vaughan, ON, L4K 5X3
Canada
Tel: (905) 326-6400
Fax: (905) 326-0783
Senior Management: Mitchell Goldhar Executive Chairman
Huw Thomas Chief Executive Officer
Peter Forde President & Chief Operating Officer
Peter Sweeney Chief Financial Officer
Mauro Pambianchi Chief Development Officer
Rudy Gobin EVP Portfolio Management & Investments
Stephen Champion EVP Development
Transfer Agent & Registrar: Computershare Share Trust
Company of Canada
100 University Avenue, 9th Floor
Toronto, ON, M5J 2Y1
Auditors: PricewaterhouseCoopers LLP
PwC Tower
18 York Street, Suite 2600
Toronto, ON, M5J 0B2
Legal Counsel: Osler, Hoskin & Harcourt LLP
100 King Street West
1 First Canadian Place
Suite 4600, P.O. Box 50
Toronto, ON, M5X 1B8