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 296 properties comprising approximately 7.7 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 23 projects under development or redevelopment which will add approximately 1,823,000 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 notedSeptember 30, 2017September 30, 2016
Assets1,038,6191,022,151
Same Asset NOI43,94843,774
Basic FFO27,38024,031
Diluted FFO29,06824,031
Basic FFO / Unit26.8¢24.6¢
Diluted FFO / Unit26.6¢24.6¢
Basic AFFO25,42621,601
Diluted AFFO26,88821,601
Basic AFFO / Unit24.9¢22.1¢
Diluted AFFO / Unit24.8¢22.1¢
FFO Payout Ratio75.7%79.7%
AFFO Payout Ratio81.6%88.6%
Weighted Average Interest Rate - Fixed Rate Mortgages4.38%4.46%
Interest Coverage Ratio2.38 times2.15 times
Debt Service Ratio1.69 times1.56 times
Debt to gross book value of assets - excluding converts49.1%47.4%
Committed Occupancy95.5%96.2%

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