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Growth and value creation
$1,050M
Investment Properties$33M
NOI$32.3M
Same-asset NOI8.4M
Gross Leasable Area (sq. ft.)as of June 30, 2020
To know Plaza is to know we are unlike any other REIT.
This is true because of the success of our platform and the diverse capabilities and expertise of our people. Together with our proven development strategy and our focus on per-unit NAV and FFO growth, we have a strong history of delivering value. We have achieved this outstanding performance by targeting greenfield and brownfield opportunities that are often overlooked by competitors. As a result, we create access to communities that are highly appealing to national retailers.
Our portfolio is strengthening every year, and we continue to pursue opportunistic acquisitions that will continue to add further value.
We invite you to learn more about Plaza REIT and take part in our exciting growth story.
Contact Investor Relations >
PLZ.UN STOCK INFO
| Listed: TSX | Last | Volume | 52 Wk High | 52 Wk Low | Last Updated |
|---|---|---|---|---|---|
| PLZ.UN |
*2018:Q4
Our proven redevelopment strategy has driven steady increases in FFO and AFFO
| FFO | AFFO | FFO per Unit | AFFO per Unit | |
|---|---|---|---|---|
| 2000 | 1519 | 0.07 | ||
| 2001 | 3150 | 0.12 | ||
| 2002 | 2891 | 0.10 | ||
| 2003 | 4044 | 0.122 | ||
| 2004 | 6011 | 0.147 | ||
| 2005 | 7090 | 0.159 | ||
| 2006 | 10808 | 0.24 | ||
| 2007 | 10576 | 0.231 | ||
| 2008 | 12310 | 10790 | 0.259 | 0.231 |
| 2009 | 13643 | 11815 | 0.263 | 0.227 |
| 2010 | 15602 | 12252 | 0.268 | 0.247 |
| 2011 | 14053 | 12034 | 0.263 | 0.225 |
| 2012 | 16243 | 14999 | 0.264 | 0.244 |
| 2013 | 19322 | 18496 | 0.26 | 0.249 |
| 2014 | 28559 | 27263 | 0.311 | 0.298 |
| 2015 | 31314 | 29908 | 0.333 | 0.318 |
| 2016 | 32650 | 29259 | 0.333 | 0.298 |
| 2017 | 35888 | 33288 | 0.351 | 0.325 |
| 2018 | 34264 | 30304 | 0.331 | 0.293 |
Accretive acquisitions and investments in redevelopment have driven strong revenue growth.
| Year | Rental Revenue |
|---|---|
| 2000 | 7529 |
| 2001 | 16186 |
| 2002 | 19042 |
| 2003 | 19863 |
| 2004 | 23967 |
| 2005 | 28099 |
| 2006 | 38458 |
| 2007 | 39600 |
| 2008 | 45890 |
| 2009 | 48477 |
| 2010 | 51257 |
| 2011 | 55588 |
| 2012 | 57314 |
| 2013 | 83091 |
| 2014 | 93376 |
| 2015 | 96050 |
| 2016 | 100215 |
| 2017 | 102887 |
| 2018 | 104017 |
Total GLA (SF)
FFO
Rental Revenue
Michael Zakuta
President,
Chief Executive Officer and TrusteeMr. Zakuta entered the real estate development business on a full time basis after obtaining his law degree from the University of Montreal and a business degree from McGill University. Mr. Zakuta is a co-founder of the Plaza Group and has been involved in every aspect of shopping centre development, acquisitions and management in Quebec, Atlantic Canada and Ontario.
Jim Drake
Chief Financial Officer
James Petrie
Executive Vice President and
Chief Operating OfficerMr. Petrie joined the Plaza Group in 2004 as Secretary and Corporate Counsel. Prior to joining Plaza, he practiced law as a partner with Stewart McKelvey Stirling Scales in Fredericton. He belongs to both the New Brunswick and Alberta bars, and is an active member of several CBA and Law Society committees. Mr.Petrie holds B.B.A. and LL.B. degrees from UNB and a Masters in Law from Duke University.
Peter Mackenzie
Executive Vice President and Chief
Investment OfficerMr. Mackenzie has been in the retail real estate industry for over 20 years. Prior to joining Plaza in 2017, he led the retail brokerage team for CBRE in Atlantic Canada where he completed assignments for national and international retailers such as Cabela’s, Canadian Tire, IKEA and Sobeys. He has lectured in the Geography Department at Saint Mary’s University and at the Rowe School of Business at Dalhousie University. Mr. Mackenzie holds a Bachelor of Arts degree from Mount Allison University and a Master of Arts degree from the University of Toronto.-
Earl Brewer
TrusteeEarl Brewer
TrusteeMr. Brewer is the Chairman of Plaza Retail REIT. Prior to assuming the role of Chairman of the REIT’s predecessor, Plazacorp Retail Properties Ltd., he was President and CEO from its inception in 1999. He was also Chairman of Greenarm Corporation and Greenarm Management, principally involved in office building development. Mr. Brewer has extensive experience in the real estate business commencing in 1984. He has served the public in many capacities with organizations including: Board of Governors, University of New Brunswick; Director, Atlantic Salmon Federation; Director, New Brunswick Investment Management Corporation; and Honorary Consul for Sweden. Mr. Brewer currently serves on the Board of the Atlantic Salmon Conservation Foundation and the Board of Governors of the Beaverbrook Art Gallery.
Kimberly Strange
Secretary and Corporate CounselMs. Strange joined the Plaza Group in 2007 as Corporate Counsel. Prior to joining Plaza, she practiced law as an associate with Stewart McKelvey in Fredericton. She is a member of the New Brunswick bar, has been an active member of various CBA committees, and is the past President of the Canadian Corporate Counsel Association, New Brunswick branch. Ms. Strange holds a B.A. from Cape Breton University and an LL.B. degree from UNB.
Denis Losier
TrusteeDenis Losier
TrusteeDenis Losier is the former President and Chief Executive Officer of Assumption Mutual Life Insurance Company of Moncton and former Chair of Assumption Life’s subsidiaries and Louisbourg Investments (September 1, 1994 to April 1, 2013).
Mr. Losier is a director and Chair of the Corporate Governance and Nominating Committee of Canadian National Railway Company (“CN”), as well as a member of the Donations and Sponsorships Committee, Strategic Planning Committee and Pension and Investment Committee, as well as a former member and Chair of CN’s Audit Committee and Human Resources and Compensation Committee. He is a former director of Enbridge Gas New Brunswick Limited Partnership, former director and Chair of the Board of Capital DGMC Inc., former Chair of Invest NB and a former board member of the Security and Intelligence Review Committee, Canadian Blood Services and NAV Canada. Mr. Losier previously served as a Member on the New Brunswick Legislative Assembly and held several cabinet positions during his tenure. He was appointed a Member of the Order of Canada in 2011.
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Stephen Johnson
TrusteeStephen Johnson
TrusteeStephen Johnson has spent approximately 40 years in the real estate industry. He served as the Chief Executive Officer of Canadian Real Estate Investment Trust (“CREIT”), a diversified real estate investment trust, from September 1996 until its acquisition by Choice Properties REIT in May 2018. Mr. Johnson then served as the President & Chief Executive Officer of Choice Properties REIT until his retirement in May 2019, following which time he became an advisor to the REIT. He has extensive experience in real estate operations (including property management and leasing), property development, real estate valuation and corporate finance.
Prior to joining CREIT, Mr. Johnson served as the President and Chief Executive Officer of DS Marcil Inc. (now RBC Capital Markets Real Estate Group), and concurrently Mr. Johnson served as a Vice President and director of RBC Dominion Securities Inc. He is a past director of Royal Bank Realty and a past member of the Real Estate Advisory Panels for both Canada Post Corporation and the Canada Deposit Insurance Corporation.
Barbara Trenholm
TrusteeBarbara Trenholm
TrusteeBarbara Trenholm is a professor emerita at the University of New Brunswick (UNB) and holds an ICD.D with the Institute of Corporate Directors and a FCPA, FCA with CPA New Brunswick.
Ms. Trenholm is currently a member of the NB Power board of directors and the International Development Research Centre board of governors. She is a past board member of AECL and the Canadian Institute of Chartered Accountants (now known as CPA Canada), past-president of the New Brunswick Institute of Chartered Accountants (now known as CPA New Brunswick), and past acting dean of the Faculty of Business Administration at UNB. In addition, she has chaired or served as a member of a number of other international, national, regional, and local boards and committees.
Jane Marshall
Trustee
Jane Marshall
TrusteeJane Marshall has more than 30 years of experience in real estate management, particularly with food and retail companies. Ms. Marshall is the Chair of the Investment Committee at RioCan Real Estate Investment Trust. Most recently, Ms. Marshall was the CEO of GoodLeaf Farms, where she led the development of the company’s automated vertical farm in Guelph, and the sale of an interest to a global food company.
Previously, Ms. Marshall served as Chief Operating Officer of Choice Properties REIT, a publicly traded REIT, majority owned by Loblaw Companies Ltd. and she played a key role in its IPO. Ms. Marshall also served as Executive Vice-President of Loblaw Properties and Business Strategy and was responsible for the acquisition, development, construction and management of its portfolio of more than 65 million square feet of owned retail, warehouse and office space as well as all its leased locations. Ms. Marshall led Loblaws’ acquisition of T&T Supermarkets and the purchase and comprehensive joint redevelopment of Maple Leaf Gardens (MLG) with Ryerson University. Ms. Marshall holds the ICD.D designation of the Institute of Corporate Directors and has a Bachelor of Arts from the University of Toronto. Ms. Marshall has served on not for-profit Boards including the Children’s Aid Foundation and Toronto Lands Corporation. Most recently, Ms. Marshall was appointed to the Board of Plaza.
Doug McGregor
Chairman and Trustee
Doug McGregor
Chairman and TrusteeDoug McGregor was the Group Head, RBC Capital Markets and RBC Investor & Treasury Services, Chairman and CEO of RBC Capital Markets, and was a member of RBC’s Group Executive. As Chairman and CEO of RBC Capital Markets, Doug had global oversight of the firm’s Corporate & Investment Banking and Global Markets activities conducted by its approximately 7,500 employees worldwide. He also directly led the investment bank’s real estate lending businesses.
As Group Head of RBC Investor & Treasury Services, Doug was responsible for this business’ custody, treasury and financing services for institutional clients globally. Doug holds an Honours BA (Business) and an MBA from the University of Western Ontario. He is a director of Brookfield Property Partners L.P. and serves on the University Health Network’s Board of Trustees in Toronto.
Doug is also a former Chairman of the Board of Directors of the Investment Industry Regulatory Organization of Canada.
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Jim Drake
Chief Financial Officer
- To come..
Our properties are primarily leased to national retailers with a focus in the consumer staples market segment – a segment that tends to withstand broader economic conditions and other retail trends, such as online sales. The result? Stable and growing cash flow.
90.7%
of gross rents are from National retailers.
Unitholders can reinvest distributions for additional. Participants in the DRIP will also receive a 3% bonus on amounts reinvested to be paid in additional units of Plaza.
3%
Paid in additional units of Plaza.How we build value.
Our challenge was to redevelop an old and under-performing enclosed mall into a vibrant community strip centre.
$7.5Million
Purchase Price
Purchase Price
$2.2Million
Capital Investment
Capital Investment
The result attracted national tenants on long-term leases that replaced local month-to-month leases. In addition, outdoor tenants experienced significantly higher sales and customer traffic due to an improved shopping experience and easy street access.
Occupancy increased!
63% to 96.1%
Tenants became more visible with former indoor retailers benefiting from acquiring frontage and access to the parking lot.
Square footage reduced!
35%
Significant cost reductions due to elimination of indoor common area space and costs associated with maintaining it.
