Plaza Retail REIT (TSX: PLZ.UN) is a developer, owner and manager of retail real estate, with a focus on central and eastern Canada. Plaza’s current portfolio includes interests in 296 properties totalling approximately 7.7 million square feet across Canada and additional lands held for development. Plaza properties are anchored by 90.4% national tenants.
Our unique business strategy is driven by value-add opportunities to develop and redevelop properties. In Atlantic Canada we have a real competitive advantage as a developer. Plaza minimizes the use of short term debt and locks in consistent returns by financing with long term debt, generally matched to lease maturities. Our growth is also driven by organic growth from our existing portfolio as leases roll-over. Our focus on cash flow per unit has enabled us to increase unitholder distributions every year since November 2002 – sixteen times over the past fifteen years.
Plaza Retail REIT’s primary goal is to deliver reliable and growing cash distributions to unitholders from a diversified portfolio of retail properties.
Plaza’s experienced management team has a proven track record and knows what it takes to successfully grow the business during the ups and downs of the real estate market. We have consistently created and delivered value by fostering strategic relationships with our tenants, lenders, suppliers, partners and investors. Our in-house expertise enables us to manage all aspects of the real estate development cycle.
We are well positioned to draw from our local market knowledge and take advantage of retail development opportunities in Atlantic Canada, Quebec and Ontario. Our entrepreneurial real estate development culture, strong capital base and a diversified portfolio position Plaza to continue to produce positive long-term results for the benefit of our stakeholders.