SmartCentres REIT was founded in 1989 and began as a shopping mall and has since grown to become one of Canada’s most well-known and profitable real estate developers. The SmartCentres Real Estate Investment Trust is the result of a long-standing and highly successful partnership between Calloway REIT and SmartCentres. Calloway REIT’s 2015 acquisition of SmartCentres® produced a significant Canadian real estate provider with competence in acquisition, asset management, planning, development, leasing, operations, property management, and construction all under one roof.
The firm’s capabilities have expanded to include a wide range of urban, mixed-use, residential, and industrial developments, including several master-planned communities, such as SmartCentres Place at the Vaughan Metropolitan Centre in Ontario, with strong experience in retail development and operation. Most Canadians are familiar with the penguin emblem, which is represented as statues in all of their shopping mall entrances.
SmartCentres® REIT is ideally positioned to take advantage of multiple opportunities as it helps shape the landscape of Canada’s real estate industry, thanks to the diverse capabilities of both firms joining together as one unified organization. Currently, they are working on projects in Vaughan, Montreal, and downtown Toronto. Their approach to contributing to the urban environment is to establish open and safe spaces where people can live, work, and interact comfortably.
The company owns 3,500 acres of land in 174 fantastic locations and has consistently provided a best-in-class retail experience. Because they’ve always respected Canadians’ needs, they’re now changing their assets from shopping malls to city centers, building communities that Canadians can be proud of. They are convinced that they will concentrate their efforts on the most appealing places across Canada, but with Toronto being the most exciting of all, they expect to see a significant increase in the number of SmartCentres in the Greater Toronto Area. Source: SmartCentres REIT