TORONTO, Aug. 25, 2020 (GLOBE NEWSWIRE) — SmartCentres Real Estate Investment Trust (âSmartCentresâ) (TSX:SRU.UN) announced today that the trustees of SmartCentres have declared a distribution for the month of August 2020 of CDN $0.15417 per trust unit, representing CDN $1.85 per unit on an annualized basis. Payment will be made on September 15, 2020 to unitholders of record on August 31, 2020.
SmartCentres Real Estate Investment Trust is one of Canadaâs largest fully integrated REITs, with a best-in-class portfolio featuring 166 strategically located properties in communities across the country. SmartCentres has $10.4 billion in assets and owns over 34.2 million square feet of income producing value-oriented retail space with 97.8% 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. A publicly announced $12.1 billion intensification program ($5.5 billion at SmartCentres’ share) represents the REITâs current major development focus on which construction is expected to commence in the next five years. This intensification program consists of rental apartments, condos, seniorsâ residences and hotels, to be developed under the SmartLiving banner, and retail, office, and storage facilities, to be developed under the SmartCentres banner.
SmartCentres’ intensification program is expected to produce an additional 59.3 million square feet (27.9 million square feet at SmartCentresâ share) of space, 27.3 million square feet (12.4 million square feet at SmartCentresâ share) 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. For more information, visit www.smartcentres.com.
For more information, please contact:
Chief Financial Officer
(905) 326-6400 ext. 7865