Fast Facts

Corporate Profile

  • Plaza Retail REIT is one of Canada’s leading property owners, developers and managers of retail real estate
  • Plaza holds interests in 298 properties comprising approximately 7.8 million square feet in Alberta, Manitoba, New Brunswick, Newfoundland, Nova Scotia, Ontario, Prince Edward Island and Quebec
  • Plaza’s total assets are valued at ~$1 billion
  • Plaza has increased its unitholder distribution fifteen times in fourteen years
  • Plaza has 26 projects under development or redevelopment which will add approximately 1,784,000 net square feet to its portfolio

What Sets Plaza Apart

  • Plaza focuses on per unit growth through accretive developments and redevelopments
  • Plaza is fully internalized and able to develop new retail properties in-house – Plaza does not buy finished properties from third party developers or from related parties at low cap rates
  • Insiders hold a significant ownership position
  • Plaza relies on its entrepreneurial abilities to adapt to changing market conditions
  • Plaza locks in consistent long-term returns by financing with long term debt, generally matched to lease maturities

Financial Highlights

000’s except as otherwise notedDecember 31, 2016December 31, 2015
Assets1,029,8921,023,887
Same Asset NOI54,83555,272
Basic & Diluted FFO32,65031,314
Basic & Diluted FFO / Unit33.3¢ 33.3¢
Basic AFFO32,22129,908
Basic AFFO / Unit32.8¢31.8¢
Diluted AFFO32,38429,908
Diluted AFFO / Unit32.7¢31.8¢
FFO Payout Ratio78.5%75.1%
AFFO Payout Ratio79.5%78.6%
Weighted Average Interest Rate - Fixed Rate Mortgages4.46%4.59%
Interest Coverage Ratio2.18 times2.08 times
Debt Service Ratio1.58 times1.55 times
Debt to gross book value of assets - excluding converts47.7%50.5%
Committed Occupancy95.9%96.1%

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