Smartcentres Real Estate Investment Trust · TSX:SRU.UN
Smartcentres Real Estate Investment Trust — Investor Presentation (May 2023)
74 slides from Smartcentres Real Estate Investment Trust's investor presentation, May 2023
Slide 1: Investor Presentation May 2023
INVESTOR PRESENTATION MAY 2023 Town Hall September 2013
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS Forward-looking statements may be made today. Certain material factors and assumptions were applied in providing these statements, many of which are beyond our control. These statements are subject to a number of risks and uncertainties that could cause actual results to d
Slide 3: SOLID RETAIL FOUNDATION Differentiating Factors Stable Tenants & Cashflows
04 SOLID RETAIL FOUNDATION 21 Unlocking Potential Future Value 50 Stoney Creek 05 Differentiating Factors 22 Partnership Updates 52 Toronto Eglinton East 06 Stable Tenants & Cashflows 24 Development Initiatives 54 Toronto Eglinton West 07 Central Essential Service Centres 56 Toronto Younge & Welling
Slide 4: Solid Retail Foundation
SOLID Town Hall September 2013
Slide 5: Differentiating Factors
DIFFERENTIATING FACTORS 188 99% Properties at key Cash receipts intersections rent collected across Canada 98% 613,000 Industry-leading Square feet committed of new leases occupancy 98% +25% of revenue from of revenue open air centres from Walmart SMARTCENTRES REIT | 2023 Q1 INVESTOR PRESENTATION 5
Slide 6: Stable Tenants & Cashflows
STABLE TENANTS & CASHFLOWS 1. 6. 99% + Rental Receipts 2. 7. 95% 3. 8. of tenants are National or Regional 4. 9. 75% of rental income from top 25 tenants 5. 10. 65% Essential Services Tenants SMARTCENTRES REIT | 2023 Q1 INVESTOR PRESENTATION 6
Slide 7: Central Essential Service Centres
CENTRAL ESSENTIAL SERVICE CENTRES Income Producing Gross In-place Occupancy Grocery/ Properties Revenue Rate Pharmacy # % % % Greater-VECTOM 108 72 97.0 99 Primary 31 17 97.0 100 Secondary 27 11 99.1 100 Total 168 100 97.2 99.4 SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR
Slide 8: Major Retailers Currently Accelerating Growth With Us
MAJOR RETAILERS CURRENTLY ACCELLERATING GROWTH WITH US SMARTCENTRES REIT | 2023 Q1 INVESTOR PRESENTATION 9
Slide 9: 25.5M SF Activity
25.5M SF of zoning applications advanced in 2021-2022 (+30,000 future residential units) Supported by a strong financial position: 34.8M SF income-producing portfolio ACTIVITY $8.7B unencumbered asset pool* $750M liquidity: cash + line of credit + accordion feature *Represents a non-GAAP financial m
Slide 10: Creating Value
CREATING VALUE Town Hall September 2013
Slide 11: 30+ Years of Land Development
30+ YEARS OF LAND DEVELOPMENT WALMART JOINT VENTURE PENGUIN PICKUP SMARTCENTRES’ STRATEGIC SMARTCENTRES SMARTCENTRES ACQUIRES WITH SMARTCENTRES CONCEPT IS INTRODUCED FOCUS EVOLVES TO MIXED-USE LAUNCHES SMARTLIVING $513M SMARTVMC WEST LANDS DIVERSIFICATION JV partners in 100 Residential growth become
Slide 12: Executive Chairman & CEO Mitchell Goldhar
EXECUTIVE CHAIRMAN & CHIEF EXECUTIVE OFFICER MITCHELL GOLDHAR ROLES & RESPONSIBILITIES Mitchell Goldhar provides development services to the REIT: • His real estate development and operations business acumen give the REIT a competitive edge • He is personally leading the REIT’s $16B transformation p
Slide 13: Unlocking the Value
SIGNIFICANT INTENSIFICATION OPPORTUNITIES 188 TOTAL PROPERTIES EASY ACCESS MAJOR INTERSECTIONS UNLOCKING THE VALUE TRANSIT CONNECTIVITY 3,500 ACRES FLEXIBLE STRUCTURES <24% LAND UTILIZATION STRONG TENANCIES SMARTCENTRES REIT | 2023 Q1 INVESTOR PRESENTATION 14
Slide 14: Residential Expertise
RESIDENTIAL EXPERTISE Our SmartLiving residential team is comprised of top industry talent, guiding our expansive team of land development, engineering and construction experts. APARTMENTS | CONDOS | TOWNS | SENIORS’ | HOTELS This expertise, coupled with our extensive knowledge of existing propertie
Slide 15: Building Holistic Communities
BUILDING HOLISTIC COMMUNITIES APARTMENTS | CONDOS | TOWNS | SENIORS’ | HOTELS SMARTCENTRES REIT | 2023 Q1 INVESTOR PRESENTATION 16
Slide 16: From Shopping Centres to City Centres
FROM SHOPPING CENTRES TO CITY CENTRES 188 properties in all Canadian provinces * REIT SHARE Property identified for transformation $11B Property under review for transformation TOTAL ASSETS TRANSFORMATION PROGRAM *Represents the REIT’s current major development focus on which construction is expecte
Slide 17: Properties Identified for Intensification
99 PROPERTIES IDENTIFIED FOR INTENSIFICATION BRITISH ALBERTA MANITOBA SASKATCHEWAN ONTARIO QUEBEC ATLANTIC TOTAL COLUMBIA ALREADY INTENSIFIED 0 0 0 0 7* 0 0 7* MARKED FOR INTENSIFICATION 8 3 3 3 66 17 0 100 UNDER REVIEW FOR INTENSIFICATION 7 4 2 0 45 12 11 81 TOTAL PROPERTIES 15 7 5 3 118 29 11 188
Slide 18: Individual Projects Across 100 Properties
273 INDIVIDUAL PROJECTS 85 CONDOS 7 TOWNHOUSES 8 OFFICE BUILDINGS ACROSS 100 PROPERTIES AND INDUSTRIAL RECURRING INCOME INITIATIVES 181 66% + 120 20 DEVELOPMENT INCOME INITIATIVES 92 34% APARTMENTS SENIORS TOTAL PROJECT COUNT 273 100% 45 PROJECTS 30 3 UNDERWAY WITHIN 24 MONTHS SELF-STORAGE HOTELS SM
Slide 19: Strategic Development Income Initiatives & Recurring Income Initiatives
STRATEGIC DEVELOPMENT INCOME INITIATIVES & RECURRING INCOME INITIATIVES FROM RESIDENTIAL PROJECTS STEADY PIPELINE OF CONDO & TOWNHOUSE PROFITS AND EXPANDING APARTMENTS PORTFOLIO STRENGTHEN STRENGTHEN FUND RECURRING LIQUIDITY EARNINGS LEVELS INCOME INITIATIVES TRANSIT CITY 1 & 2 TRANSIT CITY 3 TRANSI
Slide 20: Unlocking Potential Future Value
TRANSFORMATION PROGRAM: UNLOCKING POTENTIAL FUTURE VALUE 45 77 151 273 UNDERWAY ACTIVE FUTURE TOTAL CONSTRUCTION INITIATION (Years) ≤ 24 months 25-60 months 61+ months PLANNING ENTITLEMENTS (#) 41 52 84 177 PROJECT SF (SF Millions) 10.5 16.1 28.9 55.5 REIT SHARE 7.3 10.6 22.4 40.3 SMARTCENTRES SMART
Slide 21: 16 SmartStop JV Projects
PARTNERSHIP UPDATE 16 SMARTSTOP JV PROJECTS UNITS: ~17,000 1.5 Million SF of new development OPEN / IN LEASE-UP • Dupont St: Acquired Fall 2019 • Leaside: Opened June 2020 • Brampton: Opened Nov 2020 • Vaughan: Opened Jan 2021 • Oshawa: Opened Aug 2021 • Scarborough: Opened Nov 2021 • Aurora: Opened
Slide 22: 2 Greenwin JV Projects
PARTNERSHIP UPDATE BARRIE LAKESHORE TORONTO BALLOIL ST 2 GREENWIN JV PROJECTS UNITS: 2,150 (Across 2 Properties) BARRIE LAKESHORE SMARTLIVING INTEREST: 50% • 7.8 acres on the Barrie waterfront • PLAN: 4 towers ranging from 25 to 41 storeys (1,700 units), including residential, retail and hotel • STA
Slide 23: Development Initiatives Under Construction
DEVELOPMENT INITIATIVES UNDER CONSTRUCTION ESTIMATED PROJECTS UNDER CONSTRUCTION TRUST'S SHARE INITIAL % OF GFA(2) TYPE NO. OF UNITS (Location/Project Name) (%) OCCUPANCY / COMPLETION (sg.ft.) CLOSING DATE Vaughan / Transit City 4 Q1 2023 88% 498 Condo 25 - Q2 2023 88% 528 Vaughan / Transit City 5 V
Slide 24: City Centre Vaughan, ON
aE VNEWN “CITY CENTRE ot VAUGHAN, ON
Slide 25: The New City Centre
THE NEW CITY CENTRE +100 AC LAND TRANSIT HUB ON SITE: • v TTC subway station • Regional bus terminal • VIVA rapid transit station 140,000 SF Walmart: Opened October 2020, freeing up 15.5 acres of prime real estate for development World class YMCA opened on-site, April 2022 SMARTCENTRES SMARTCENTRES
Slide 26: The New City Centre
THE NEW CITY CENTRE +20,000,000 SF +45,000 RESIDENTS SMARTVMC WEST SMARTVMC EAST DEC 2021 ACQUISITION: • SmartCentres doubled ownership in SmartVMC • $513 million acquisition of 2/3 interest in SmartVMC West (53 AC) • Now the largest landowner in the Vaughan Metropolitan Centre SMARTVMC WEST LAND AC
Slide 27: Transit City 1,2,3 Condos
| TRANSIT CITY 1,2,3 CONDOS 1,741 UNITS ACROSS 3 TOWERS ~3,000 RESIDENTS IN OCCUPANCY $65.7M IN NET INCOME ($35M IN EXCESS OF PLAN) 25% REIT SHARE OF PROFIT • $46.2 million in net income from Transit City 1 & 2 in 2020 • $19.5 million in net income from Transit City 3 in 2021 • TC Towns: 22 townhous
Slide 28: TC4 & TC5 Condos
| TC4 & TC5 CONDOS TC4 & TC5 1,026 UNITS 100% PRESOLD TC4 COMPLETE 25% REIT SHARE OF PROFIT • The 194 units of TC4 closed March 2023 adding $3.8 million in net income • Occupancy of the balance of TC4 & TC5 will take place over the next two quarters SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q
Slide 29: The Millway
| THE MILLWAY THE MILLWAY 458 PURPOSE-BUILT RENTAL UNITS 50% REIT OWNERSHIP NOW RENTING SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 3030 PRESENTATION
Slide 30: ArtWalk
NEW ART DISTRICT | ARTWALK 320 PRESOLD CONDO UNITS PHASE 1 3 MIXED-USE TOWERS 550,000 SQUARE FEET PHASE 1 627 RESIDENTIAL UNTS 50% REIT OWNERSHIP CONSTRUCTION ANTICIPATED TO BEGIN IN 2023 • 12 Acres Full ArtWalk • 12 Buildings Build-Out • +4 Million SF • 4,600 Residential Units SMARTCENTRES SMARTCEN
Slide 31: Park Place
| PARK PLACE 1,094 RESIDENTIAL UNITS 2 TOWERS 960,000 SQUARE FEET 48 & 56 4 STOREYS ACRES 10,000 SQUARE FEET RETAIL SPACE 67% REIT OWNERSHIP RESIDENTIAL , OFFICE, HOTEL 1,200,000 SF SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION PRESENTATION 3232
Slide 32: New Vaughan Centre & Beyond
NEW & BEYOND 1 SMARTVMC – 50% SRU + 50% PGC SRU: SMARTCENTRES REIT 2 SMARTVMC – 66.70% SRU + 33.3% PGC PGC: PENGUIN GROUP OF COMPANIES 3 APPLEWOOD – 50% SRU + 50% PGC 4 SMARTCENTRES 400 & 7 – 100% SRU ALL SMARTCENTRES-LED PLANNING AND DEVELOPMENT 5 SMARTCENTRES WESTRIDGE – 50% SRU + 50% CHOICE REIT
Slide 33: Vaughan (Hwy 400 & 7)
VAUGHAN (HWY 400 & 7) 20 AC CURRENT Location: Highly visible site along Highway 7, separated from SmartVMC by Highway 400 TRANSIT: Serviced by VIVA Rapid Transit, with direct TTC connection SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 3434 PRESENTATION
Slide 34: Vaughan (Hwy 400 & 7) Masterplan
VAUGHAN (HWY 400 & 7) 5,300,000 SF PLANNED MASTERPLAN 14 potential buildings and 3,900 residential units PHASE 1 4 residential towers UNITS: 1,742 units STATUS: Phase 1 Site Plan Application submitted October 2020 SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION
Slide 35: Vaughan Northwest
VAUGHAN NORTHWEST 41 AC MAJOR MACKENZIE DR W & WESTON RD Location: 1 km from Canada’s first smart hospital (opened February 2021) RETAIL & SELF STORAGE: 304,000 SF ANCHOR: Walmart SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 3636 PRESENTATION
Slide 36: Vaughan Northwest Masterplan
VAUGHAN NORTHWEST 1,500,000 SF PHASE 1 174 FREEHOLD TOWNS: -JV with Fieldgate -99 units pre-sold PHASE 2 SENIORS’ APARTMENT & RETIREMENT RESIDENCES -450+ units -Applications submitted PHASE 3 3 RESIDENTIAL TOWERS: - Along Major Mackenzie Applications submitted SMARTCENTRES SMARTCENTRES REITREIT | 20
Slide 37: Alliston
ALLISTON 39 AC Location: Hwy 89 just east of Alliston, close to the Honda Manufacturing Plant RETAIL: 171,000 SF ANCHOR: Walmart SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 3838 PRESENTATION
Slide 38: Alliston Masterplan
ALLISTON 323,000 SF MASTERPLAN Rezoning approved for residential (350 units), self-storage and hotel PHASE 1 PURPOSE-BUILT RENTAL: 3-storeys UNITS: 46 STATUS: Site Plan Application Approved SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 3939 PRESENTATION
Slide 39: Cambridge
CAMBRIDGE 73 AC Location: Highly visible site along Highway 401, in the growing Cambridge community RETAIL: 744,000 SF ANCHOR: Walmart SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 4040 PRESENTATION
Slide 40: Cambridge Masterplan
CAMBRIDGE v 12,000,000 SF LONG-TERM FULL BUILD-OUT (Subject to a leasehold interest with Penguin) MASTERPLAN 10,000 new residential units, including rental apartments, condos, towns and seniors STATUS: Minister’s Zoning Order issued Nov 2020 PHASE 1 Residential high-rise and mid-rise SMARTCENTRES SM
Slide 41: Oakville North
OAKVILLE NORTH 52 AC Location: Uptown core area of Oakville with uncapped densities. Permissions for residential, office, retail and commercial. RETAIL: 461,000 SF ANCHORS: Walmart and The Real Canadian Superstore SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION
Slide 42: Oakville North Masterplan
OAKVILLE NORTH 5,500,000 SF LONG-TERM FULL BUILD-OUT MASTERPLAN Residential, commercial and retail PHASE 1 2 RESIDENTIAL TOWERS: 31 & 69 storeys UNITS: 587 658,000 SF STATUS: Phase 1 Site Plan Application submitted March 2022 SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR P
Slide 43: Oakville South
OAKVILLE SOUTH 21 AC Location: Along Third Line between Highway 403 and the QEW RETAIL: 330,000 SF ANCHOR: Metro SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 4444 PRESENTATION
Slide 44: Oakville South Masterplan
OAKVILLE SOUTH 430,000 SF MASTERPLAN Residential, commercial and retail PHASE 1 TOWNS: With a 3 rd party homebuilder UNITS: 100 200,000 SF SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 4545 PRESENTATION
Slide 45: Ottawa Southwest
OTTAWA SOUTHWEST 15 AC Location: Southwest of downtown Ottawa. Highly visibility with excellent public transit RETAIL: 172,000 SF OFFICE: 88,000 SF ANCHOR: Walmart SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 4646 PRESENTATION
Slide 46: Ottawa Southwest Masterplan
OTTAWA v SOUTHWEST 665,000 SF PHASE 1 2 SENIORS’ RENTAL & LIVING TOWERS: 15-storey each with Groupe Selection UNITS: 402 STATUS: Under construction. Completion expected in 2024. SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 4747 PRESENTATION
Slide 47: Pickering
PICKERING v 48 AC Location: 5 minutes from the Pickering GO station, next to Highway 401 and minutes from Durham Live RETAIL: 546,000 SF ANCHORS: Walmart and Lowe’s SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 4848 PRESENTATION
Slide 48: Pickering Masterplan
PICKERING 5,000,000 SF MASTERPLAN Condos, towns, seniors’ and apartments PHASE 1 3 RESIDENTIAL TOWERS 700,000 SF STATUS: Phase 1 Site Plan Application approved June 2022 SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 4949 PRESENTATION
Slide 49: Stoney Creek
STONEY v CREEK 13 AC Location: Growing area close to highway with future transit RETAIL: 134,000 SF ANCHOR: Food Basics SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 5050 PRESENTATION
Slide 50: Stoney Creek Masterplan
STONEY CREEK 900,000 SF MASTERPLAN 5 residential buildings UNITS: 1,116 TRANSIT: Closs proximity to future LRT and GO PHASE 1 2 CONDO TOWERS: Both 20 storeys UNITS: 494 400,000 SF STATUS: Phase 1 application submitted Q4 2021 SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR P
Slide 51: Toronto (Eglinton East)
TORONTO v (EGLINTON EAST) 28 AC Location: Highly visible site along Eglinton Ave E along the Crosstown LRT line RETAIL: 380,000 SF ANCHOR: Walmart SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 5252 PRESENTATION
Slide 52: Toronto (Eglinton East) Masterplan
TORONTO (EGLINTON EAST) 7,000,000 SF MASTERPLAN Residential, retail and office TRANSIT: Flanked between 2 future Crosstown LRT stations PHASE 1 2 CONDOS: 46 & 48 storeys UNITS: 975 806,000 SF STATUS: Phase 1 Official Plan Approved August 2022. Site Plan Application ongoing Phase 2 Density submitted
Slide 53: Toronto (Eglinton West)
TORONTO (EGLINTON WEST) 9 AC Location: Minutes from Highway 401 and the Allen road. Future multimodal transit hub. RETAIL: 140,000 SF ANCHORS: Canadian Tire and Freshco SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 5454 PRESENTATION
Slide 54: Toronto (Eglinton West) Masterplan
TORONTO (EGLINTON WEST) 2,550,000 SF TRA N SIT New Eglinton Crosstown LRT station and Barrie- line GO stations to open on site PHASE 1 1 35-storey residential tower UNITS: 397 STATUS: Phase 1 Site Plan Application Resubmitted Q2 2022 325,000 SF SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INV
Slide 55: Toronto (Yonge & Wellington)
TORONTO (YONGE & WELLINGTON) Location: Prime Yonge and Wellington location, steps from the King and Union TTC/GO train stations 2 4-storey heritage buildings built in 1847 and 1875 SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 5656 PRESENTATION
Slide 56: Toronto (Yonge & Wellington) Project
TORONTO v & (YONGE WELLINGTON) PROJECT 60-STOREY TOWER: 4 storeys of office 56 storeys of residential UNITS: 258 STATUS: Rezoning submitted Nov. 2021. Site Plan Application submitted Aug. 2022 SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 5757 PRESENTATION
Slide 57: Laval Centre
LAVAL CENTRE 43 AC Location: Prime location, minutes from Autoroutes 15 and 440 LAND SALES: Parcels sold to develop a seniors’ residence, hotel and office ANCHOR: Walmart SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 5858 PRESENTATION
Slide 58: Laval Centre Masterplan
LAVAL CENTRE 2,900,000 SF MASTERPLAN Full property has up to 4.5M SF of potential. PHASE 1 EQUINOXE DANIEL JOHNSON, JADCO JV TOWER 1 RENTAL: UNITS: 171 15 storeys 98% leased TOWER 2 UNDER CONSTRUCTION: Completion Q3 2023 PHASE 2 TOWER 1 CONDO: UNITS: 155 8 storeys TOWER 2 RENTAL APARTMENT UNITS: 345
Slide 59: Mascouche
MASCOUCHE 74 AC Location: Prime location at Autoroutes 25 and 640 RETAIL: 470,500 SF ANCHOR: Walmart SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 6060 PRESENTATION
Slide 60: Mascouche Masterplan
MASCOUCHE 1,500,000 SF MASTERPLAN Residential towers UNITS: 1,600 PHASE 1 2 RESIDENTIAL TOWERS: 10-storeys COGIR JV (80% SmartLiving ownership) UNITS: 238 >71% leased 244,000 SF STATUS: Completed: Q4 2022. SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 6161 PRE
Slide 61: Mirabel
MIRABEL 122 AC Location: Prime land along HWY 15 RETAIL: Premium Outlets Montreal (Simon JV) Q4 2020 - SmartCentres purchased Simon’s 33% interest in the 50 AC parcel. REIT interest now 66%. Q1 2022- SmartCentres and Penguin purchased Simon’s 50% interest in the 21 AC parcel. 6262 REIT interest now
Slide 62: Mirabel Masterplan
MIRABEL 4,500,000 SF MASTERPLAN Mixed use, multi-residential and residential towers PHASE 1 RENTAL TOWER: 8-storeys UNITS: 168 167,500 SF STATUS: Phase 1 Site Plan Application submitted Q3 2023 SMARTCENTRES REIT | 2023 Q1 INVESTOR PRESENTATION 63
Slide 63: Montreal (Kirkland)
MONTREAL (KIRKLAND) 16 AC Location: Highly visible site on the south side of Hwy 40 RETAIL: 207,000 SF ANCHOR: Walmart SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 6464 PRESENTATION
Slide 64: Montreal (Kirkland) Masterplan
MONTREAL (KIRKLAND) 750,000 SF TRA N SIT REM station: Under construction PHASE 1 10-storey residential UNITS: 170 STATUS: Construction anticipated to commence Q2 2025 SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 6565 PRESENTATION
Slide 65: Pointe-Claire
POINTE- CLAIRE 23 AC Location: Montreal’s West Island with new Light Rail Transit line to downtown RETAIL: 384,000 SF ANCHORS: Walmart and Home depot SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR PRESENTATION 6666 PRESENTATION
Slide 66: Pointe-Claire Masterplan
POINTE- CLAIRE 1,500,000 SF MASTERPLAN Residential, seniors and office PHASE 1 2 RENTAL RESIDENTIAL TOWERS: 16-storeys each UNITS: 300 STATUS: Zoning secured for multiple uses including residential, seniors housing and office SMARTCENTRES SMARTCENTRES REITREIT | 2023 | 2023 Q1 INVESTOR Q1 INVESTOR P
Slide 67: Innovation: Generating New Revenue Sources
INNOVATION GENERATING NEW REVENUE SOURCES SMARTCENTRES REIT | 2023 Q1 INVESTOR PRESENTATION 68
Slide 68: Financial
FINANCIAL
Slide 69: Total Returns to Unitholders
TOTAL RETURNS TO UNITHOLDERS* $1,400 12.6% AVERAGE ANNUAL $1,200 RETURN SINCE IPO $1,141 (as of May 18, 2023) $1,000 $800 $587 $600 $561 $400 $200 $0 20 23 3 22 2 4 7 21 8 5 6 9 17 11 18 10 15 16 19 13 12 14 0 0 0 0 0 0 0 0 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 SmartCentr
Slide 70: Total Assets Valued at $11.7B
TOTAL ASSETS VALUED AT $11.7B TOTAL UNENCUMBERED ASSETS VALUED AT $8.7B 14.0 1.90 TOTAL ASSETS AND UNENCUMBERED ASSETS(1) Annualized Distributions ($ per Unit) (in billions of $) 11.7 11.7 1.80 12.0 11.3 10.7 10.0 26.3% CAGR* 9.4 9.5 9.9 1.70 since 2002 8.7 8.4 8.7 8.5 1.60 8.0 7.1 7.1 6.5 6.6 1.50
Slide 71: Stable Cash Distributions
STABLE CASH DISTRIBUTIONS 98.6% 97.7%(2) 92.8% 90.7% 90.9% 87.4% PAYOUT RATIO* 83.0% 2017 2018 2019 2020 2021 2022 2023 Q1 In thousands of dollars (except per Unit information) Net income and comprehensive income per Unit 2.26 2.49 2.19 0.52 5.68 3.54 Cash flow provided by operating activities per U
Slide 72: Debt/Maturity/Leverage
DEBT/MATURITY/LEVERAGE DEBT MATURITY (in millions of $) 1,000 764 550 510 448 450 500 313 300 300 265 250 200 166 150 100 80 98 108 23 55 9 6 17 0 2023 2024 2025 2026 2027 2028 2029 2030 THEREAFTER Secured Debt Unsecured Debentures Unsecured Credit Facilities and Other Debt Dec. 31 Dec. 31 Dec. 31 D
Slide 73: To City Centres
TO CITY CENTRES SMARTCENTRES REIT | AGM 2023
Slide 74: SmartCentres Real Estate Investment Trust
pF SMARTCENTRES REAL ESTATE INVESTMENT TRUST SMARTCENTRES.COM
SmartCentres Real Estate Investment Trust — Investor Presentation (May 2023) on 6ix