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 299 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 sixteen times in fifteen years
  • Plaza has 29 projects under development or redevelopment which will add approximately 1,940,000 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, 2017December 31, 2016
Same Asset NOI58,11758,073
Basic FFO35,88832,650
Diluted FFO38,14634,770
Basic FFO / Unit35.1¢33.3¢
Diluted FFO / Unit34.9¢33.3¢
Basic AFFO33,28829,259
Diluted AFFO33,28829,259
Basic AFFO / Unit32.5¢29.8¢
Diluted AFFO / Unit32.5¢29.8¢
FFO Payout Ratio77.1%78.5%
AFFO Payout Ratio83.1%87.6%
Weighted Average Interest Rate - Fixed Rate Mortgages4.39%4.46%
Interest Coverage Ratio2.36 times2.18 times
Debt Service Ratio1.68 times1.58 times
Debt to gross book value of assets - excluding converts48.4%47.7%
Committed Occupancy95.2%96.1%

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