SmartCentres Real Estate Investment Trust is a mutual fund trust engaged primarily in developing, constructing, leasing and managing properties.
It is an unincorporated, open-ended trust governed by the laws of Alberta.
The properties include enclosed malls, mixed-use properties, retail centers, etc. The mixed-use group operates under the brand SmartUrban. The portfolio includes residential and office spaces in urban areas.
Through its brand SmartCentres, the properties include fitness centers, restaurants, supermarkets, clothing or accessory stores.
The company was founded in 1989 and is said to be the Canada’s largest integrated real estate investment trust (REIT).
The diversified portfolio consists of 168 properties strategically located across different communities in Canada. As of 2021, the company owns 3,500 acres of land and 115 Walmart anchored centers.
The REIT company says it is presently focusing on Project 512, which is a publicly announced intensification program. The project consists of condos, rental apartments, seniors’ residents and hotels. All these assets will be developed under the SmartLiving banner and, under the SmartCentres banner, retail, storage facilities and offices will be developed, the company claims.
The REIT's claims to provide high-quality services with in-house development skills, including:
• Government relations
• Environment and Geotech specialists
Canadian businessman and founder of the SmartCentres brand, Mitchell Goldhar, reportedly worked to help Walmart enter the Canadian market in 1994.
In 2012, the company entered into a partnership agreement with Simon Property Group Inc, a real estate company, to open Premium Outlets® Centre.
In 2015, SmartCentres retail platform was acquired by the Calloway REIT.
By 2017, SmartCentres had developed 175 Walmart stores across Canada and over 200 retail properties.
The company’s technology initiatives include:
• Charging stations
• Mobile Advertising
• Digital Signs
• Wifi networks
• Building Systems
• Advertising Kiosks
The company claims its asset portfolio consists of properties in Quebec, Ontario and British Columbia.