SUPPLEMENTAL INFORMATION PACKAGE September 30, 2019
INFINITE POSSIBILITIES… THIRD QUARTER REPORT TABLE OF CONTENTS
Notice to Reader …………………………………………………………………………...... ………….... 2 Conference Call Highlights ………….……..………………………………………………………………. 3 Looking Beyond ……………………………………………………..…………………………………… 11 Portfolio Highlights ……………………………...……………...…………………………………………. 16 Distribution Reinvestment Plan ……………………………………………...…………………………… 17 Distribution History …………………………………………..………………….…………..... 17 Performance of SmartCentres Units ………………………………………………………………...... 18 Average Unit Trading Price …………………………………………………………….…….. 18 Average Daily Volume of Units Traded ………………………………………..……………. 18 Market Capitalization Summary ………………………………………………..……………. 18 Gross Revenue and Area by Province ………………………………………………………………….. 19 Top 25 Tenants Ranked by Gross Rental Revenue …………………………………………...... 20 Lease Expiration Schedule ……………………………………………………………………………..… 21 Area by Age (Retail Only) …………………………………………………………………………….….. 22 Future Retail Developments, Earnouts and Mezzanine Financing ……………………………...... … 23 Major Mixed-Use Development Initiatives …….……………………………………………………...… 24 Mortgages Receivable (Mezzanine Financing) ……………………………………………………….. 26 Individual Property Summary ………………………………………………………………………..…… 27 Corporate Information ……………………………………………………………………...... 41 .
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 1 NOTICE TO READER
Readers are cautioned that certain terms used in this Supplemental Information Package (“Supplement”) such as Funds From Operations ("FFO"), Adjusted Cashflow From Operations ("ACFO"), "Gross Book Value", "Payout Ratio", "Interest Coverage", “Adjusted Debt to Adjusted EBITDA" and any related per Unit amounts used by management to measure, compare and explain the operating results and financial performance of the Trust do not have any standardized meaning prescribed under IFRS and, therefore, should not be construed as alternatives to net income or cash flow from operating activities calculated in accordance with IFRS. These terms are defined in this Supplement and reconciled to the consolidated financial information of the Trust in the Management’s Discussion and Analysis (“MD&A”) for the three and nine months ended September 30, 2019. Such terms do not have a standardized meaning prescribed by IFRS and may not be comparable to similarly titled measures presented by other publicly traded entities.
Certain statements in this Supplement are "forward-looking statements" that reflect management's expectations regarding the Trust's future growth, results of operations, performance and business prospects and opportunities. More specifically, certain statements contained in this Supplement, including statements related to the Trust's maintenance of productive capacity, estimated future development plans and costs, view of term mortgage renewals including rates and upfinancing amounts, timing of future payments of obligations, intentions to secure additional financing and potential financing sources, and vacancy and leasing assumptions, and statements that contain words such as "could", "should", "can", "anticipate", "expect", "believe", "will", "may" and similar expressions and statements relating to matters that are not historical facts, constitute "forward- looking statements". These forward-looking statements are presented for the purpose of assisting the Trust's Unitholders and financial analysts in understanding the Trust's operating environment, and may not be appropriate for other purposes. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. However, such forward-looking statements involve significant risks and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Although the forward-looking statements contained in this Supplement are based on what management believes to be reasonable assumptions, the Trust cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. These forward-looking statements are made as at the date of this Supplement and the Trust assumes no obligation to update or revise them to reflect new events or circumstances unless otherwise required by applicable securities legislation.
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 2 CONFERENCE CALL HIGHLIGHTS
OPERATIONS – FOR THE QUARTER ▪ FFO increased by $3.0 million or 3.2% to $97.3 million as compared to the same quarter in 2018 ▪ ACFO increased by $0.5 million or 0.6% to $87.2 million as compared to the same quarter in 2018 ▪ Committed and in-place occupancy rates were 98.2% and 98.1%, respectively, as at September 30, 2019, as compared to 98.2% and 98.1%, respectively, as at September 30, 2018 and as compared to 98.0% and 97.8%, respectively, as at June 30, 2019. Outlook for new leasing remains strong ▪ Completed or near completion on lease renewals totalling 2,954,405 square feet, representing 82.6% of lease maturities for September 30, 2019, with average net retail rent increases of 3.3% (4.0% excluding anchor tenants). In addition, completed or near completion on renewals totalling 1,127,994 square feet or 29.7% of 2020 lease maturities ▪ The weighted average stabilized capitalization rate for the investment property portfolio was 5.90% (December 31, 2018 – 5.92%) ▪ Payout ratio to ACFO increased by 6.8% to 88.6% as compared to the same quarter in 2018
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 3 CONFERENCE CALL HIGHLIGHTS
TENANT ACTIVITY ▪ Excluding SmartVMC, during 2019 SmartCentres expects to complete approximately 275,000 square feet of new retail developments including additional new stores for Indigo, Marshalls, Old Navy, HomeSense, End of the Roll, Yellow Shoes, PetSmart, Healthy Planet, etc. ▪ Approximately 54,626 square feet of retail and office tenancies (including equity accounted investments) were completed and transferred in the quarter via earnouts and developments, providing an average unleveraged yield of 5.8%, including an expansion of an existing Winners store in Penticton ▪ 2.95 million square feet (82.6%) of 2019 lease expiries renewed at or near completion ▪ The 2019 bankruptcy and closure of 21 Bombay and Bowring locations and 46 Payless Shoes locations in our portfolio represent 103,000 square feet and 107,000 square feet, respectively. Substantively all of these locations are part of Walmart-anchored or shadow-anchored shopping centres, and leasing work on backfilling these locations is going well. Currently, we have leased or have expressions to lease approximately 70% and 50% of the Payless/Bowring locations respectively of this space and we expect to have the balance of vacant space in these locations leased by the end of 2020 ▪ Continued strong interest from tenants for various size properties based on quality of locations ▪ We see demand among expanding retailers for physical retail space continuing. Currently, the top expansion retail categories include grocery, off-price apparel, dollar stores, fast food and theme-based restaurants, fitness and health facilities, and beauty and cosmetics ▪ Overall, SmartCentres continues to monitor closely those tenants in certain markets where some rationalizing is taking place
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 4 CONFERENCE CALL HIGHLIGHTS
GROWTH ▪ Without the impact of the previously announced tenant bankruptcies, Same Properties NOI would have increased by approximately 2.1%, however, actual Same Properties NOI remained relatively flat as compared to the same quarter in 2018 ▪ Premium Outlets ‒ Toronto o over 99% occupied o the 144,000 square foot expansion opened in November 2018 and includes some very exciting brand names such as Gucci, Prada, Coach, Armani, Burberry, Saint Laurent, Kate Spade, Montblanc and Zadig & Voltaire o tenant sales continuing to perform very well, with industry-leading sales levels o sales levels per square foot for 2019 are expected to exceed those experienced prior to the expansion ‒ Montreal o fully occupied and sales levels per square foot continue to perform at industry-leading levels in the province o 75-acre site adjacent to the centre under consideration for various uses including residential and hotel ‒ SmartCentres continuing to work with our partner, Simon Properties, on two potential additional sites ▪ SmartVMC ‒ 2017 successful launch for first residential developments in a joint venture with Mitchell Goldhar and CentreCourt Developments Inc. with Transit City Condos 1, 2 & 3, which when complete will be 55 storeys each and have a total of approximately 1,741 units. All three towers substantially sold out at significantly increased pricing versus original proformas. Construction of all three towers progressing well with Tower 1 now reaching 55 storeys and completion expected in 2020/2021. Proforma FFO for the three towers now expected to be approximately $65 million
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 5 CONFERENCE CALL HIGHLIGHTS
GROWTH (CONT’D) ‒ next phase includes two additional condominium towers and the first purpose-built residential rental apartment. The three towers total 1,477 units. Towers 4 and 5 will be 45 storeys (498 units) and 50 storeys (528 units) respectively, and will have direct access to 20,000 square feet of amenity space. Marketing of these two towers commenced in Spring 2019 and are now substantially sold out, and construction has begun. The apartment building will be 35 storeys. This phase includes expansive open green spaces designed by Claude Cormier & Associates. The open spaces are an integral part of the master plan at SmartVMC ‒ construction of realignment of off-ramp from Hwy 400 at Hwy 7 to align with Applewood Crescent completed during Q3 2019 ‒ significant internal road infrastructure on western portion of SmartVMC now complete, improving internal access and extending Applewood Crescent to align directly with the Hwy 400 off-ramp ‒ office space fully leased in the KPMG Tower ‒ working on leasing balance of KPMG Tower ground floor retail space which now includes TD Canada Trust, Bank of Montreal, International News and Pumpernickel's ‒ second mixed-use tower with PwC as lead tenant as well as YMCA, a library and other community space. In the PwC-YMCA Tower, PwC is now open and YMCA is expected to open in the summer of 2020 ‒ signed a 10-year (plus two 5-year extensions) lease transaction with Scotiabank to be a tenant occupying both the PwC-YMCA Tower’s top floor and a retail branch on the ground floor and they are expected to open for business later in 2019 ‒ commenced construction of new Walmart store on SmartCentres' former home office site and once complete in August 2020, will “free up” 15.5 acres of additional development lands on the SmartVMC site ‒ SmartVMC Bus Terminal (York Regional Transit) now open ‒ surface parking for 900 cars now available for subway commuters in two lots on the site and these are fully occupied Monday to Friday ‒ subway which opened in December 2017, continuing to attract higher ridership levels ‒ Rogers Hometown Hockey to be broadcast from SmartVMC on January 12, 2020
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 6 CONFERENCE CALL HIGHLIGHTS
GROWTH (CONT’D) ▪ Intensification / Redevelopment ‒ 94 sites now under consideration for 256 mixed-use development initiatives, with additional pojects under consideration ‒ JV with SmartStop progressing for self storage sites. An additional site was recently approved bringing the current total to seven sites in the GTA now moving forward with more sites to follow. The Board-approved sites are Leaside, Oshawa, Scarborough, Vaughan, Markham, and two in Brampton. Leaside, Brampton and the Vaughan NW sites are currently under construction with completion of Leaside expected later in 2019. Subsequent to quarter-end, SmartCentres, together with SmartStop, purchased an existing 735-unit self storage facility on Dupont Street in Toronto ‒ agreements with Revera for multi-site retirement home development program recently completed. The first three sites approved are located in Oakville and two in Vaughan ‒ Ottawa (Laurentian Place) SmartCentre – JV for 420-unit seniors apartment/retirement home with another retirement home operator, Selection Group, announced recently ‒ discussions with a number of potential partners to consider residential (including condominium, rental and single family homes), and other potential uses on existing retail sites underway ‒ first six Tesla charging stations now open, with a further 15 sites being planned, as part of a comprehensive strategy to incorporate value-added services to many of the properties in the retail portfolio ▪ Future Opportunities ‒ retail earnouts and developments (including Premium Outlets) – committed retail pipeline (ie. executed leases) of approximately 274,000 square feet in place at a yield of 6.1% ‒ the film studios at the StudioCentre at Lakeshore Boulevard East continue to be very active ‒ a few examples of our extensive intensification initiatives: o Westside Mall – mixed-use opportunity for up to 3.0 million square feet resulting from Eglinton LRT line station and proposed GO interchange integrated with existing retail property moving forward with strong council support
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 7 CONFERENCE CALL HIGHLIGHTS
GROWTH (CONT’D) ▪ Future Opportunities (cont’d) o Vaughan (400 & 7) SmartCentre – 20-acre site along Hwy 7 is now slated for approximately 2.5 million square feet of redevelopment, including residential, office, retail and entertainment. The site, under the Vaughan Official Plan, is permitted one of the highest densities in Vaughan, second only to SmartVMC o Laval Centre ‒ proposed mixed-use development, including office, residential, seniors housing and further retail, now underway ‒ JV with Jadco progressing well and construction also progressing well for first 171 unit rental tower with initial occupancy expected in 2020 and second 167 unit rental tower expected to commence construction in 2020 o Pointe-Claire SmartCentre acquired in 2016 is now identified for significant intensification, with zoning now approved for up to 1.5 million square feet of residential, in various forms, and retirement homes o South Oakville Centre is now in active redevelopment, including both a residential development and the recently announced seniors home development with Revera ▪ Acquisitions ‒ SmartCentres entered into a joint venture with Greenwin Inc. and closed on the land to develop a 7.8 acre lakefront property in Barrie, Ontario. The project is contemplated to be a multiphase rental apartment community. Comprising of over 2,000 residential units, the property is in close proximity to the GO station and has direct access to the waterfront ‒ Subsequent to quarter-end, SmartCentres completed the purchase of a self-storage facility located in Toronto (Dupont Street), Ontario for a purchase price of $17.2 million (at SmartCentres' share), in a 50/50 joint venture arrangement with SmartStop ‒ SmartCentres continues to seek acquisition opportunities that are both accretive and provide future development potential
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 8 CONFERENCE CALL HIGHLIGHTS
CAPITAL ACTIVITIES ▪ Annual distribution increased in October 2019 to $1.85 from $1.80, representing a 2.8% increase ▪ Leverage at 41.8% decreased from 44.3% in the same quarter in 2018 ▪ Total debt weighted average interest rate of 3.66% (3.66% in 2018) ▪ Interest coverage at 3.3X (3.1X in 2018) ▪ Unencumbered asset pool in excess of $4.7 billion ($4.1 billion in 2018), providing significant future flexibility. Pool contains high quality assets ▪ Rebalancing between unsecured and secured continues and is approximately 55%/45% based on current financing strategy (47%/53% in 2018) ▪ Financing in place for Transit City Condos 4 & 5 ▪ Admitted into TSX “Dividend Aristocrat Index” pursuant to continuous track record of distribution increases ▪ Completed construction and mortgage financing for: ‒ Laval Centre (first of two residential rental towers) - joint venture with Jadco ‒ Self storage facilities (multiple locations) - joint venture with SmartStop has been arranged and credit facility with a group of lenders near completion
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 9 CONFERENCE CALL HIGHLIGHTS
2019 OUTLOOK ▪ 2019 operating FFO expected to continue to grow based on: ‒ developments and earnouts including completion of the Toronto Premium Outlets expansion ‒ additional leasing at SmartVMC including commencement of PwC lease ‒ full year of refinancing benefits from 2018 and further 2019 benefits ‒ 2019 Transactional FFO ‒ $230.0 million equity issuance in January 2019 is expected to dilute 2019 FFO by approximately $0.06 or 3% and is being used to assist with development funding strategy
2020 OUTLOOK ▪ FFO per unit growth rate expected to accelerate in excess of 10% in 2020 as initial benefits of significant developments begin to be realized
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 10 VAUGHAN METROPOLITAN CENTRE LOOKING BEYOND
Vaughan Metropolitan Centre – aerial with KPMG Tower, PwC-YMCA Tower and construction of the first three Transit City condominiums
Construction of the Transit City Condos (Towers 1, 2 & 3)
PwC now open in the PwC-YMCA Tower
Artist's rendering of Transit City from the East Block of VMC (Towers 4 & 5 and first 35-storey rental building in left foreground)
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 11 LOOKING BEYOND
Ottawa (Laurentian Place) – Concept Plan
Pointe-Claire – Concept Plan
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 12 LOOKING BEYOND
Vaughan NW – Potential single family, self-storage, seniors residence (with Revera) development
South Oakville – Townhomes and seniors residence (with Revera) development
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 13 LOOKING BEYOND
Laval Centre – Concept Plan
Laval Centre – Artist's rendering of the Apartment Buildings (currently under construction)
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 14 LOOKING BEYOND
Retirement Homes with Revera
Self-Storage with SmartStop
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 15 PORTFOLIO HIGHLIGHTS
As at As at September 30, 2019 September 30, 2018
(in $000s, except per Unit and other non-financial data) Total number of properties owned 166 164 Number of Walmarts / Supercentres 101 / 99 101 / 96 Number of Walmarts / Supercentres (including shadows) 115 / 113 115 / 109 Gross leasable area including both retail and office space (sq. ft.) 34,276,552 34,267,756 Total GLA in Walmart anchored centres (sq. ft.) 28,522,521 28,315,379 Future estimated retail development area (sq. ft.) 2,793,932 3,350,288 Committed occupancy rate 98.2% 98.2% In-place occupancy rate 98.1% 98.1% Average lease term to maturity 5.1 years 5.5 years Net rental rate (per occupied sq. ft.) $15.44 $15.29 Net retail rental rate excluding Anchors (per occupied sq. ft.) (1) $22.04 $21.63 Total assets (2) 9,704,677 9,427,341 Total unencumbered assets (3) 4,652,700 4,116,100 Debt (3)(4) 4,132,699 4,256,252 Total debt – Weighted average interest rate (3)(4) 3.66% 3.66% Debt to aggregate assets (3)(4) 41.8% 44.3% Debt to gross book value (3)(4) 48.5% 51.5% Secured debt to aggregate assets (3)(4) 19.0% 23.3% Unencumbered assets to unsecured debt (3)(4) 2.1X 2.04X Interest coverage (3)(4) 3.3X 3.1X Adjusted debt to adjusted EBITDA (3)(4) 7.8X 8.3X Units outstanding (5) 170,689,152 161,222,910 Unit price (TSX: SRU.UN) $32.50 $30.51 Equity (fair value) 5,547,397 4,918,911 Equity (book value) (2) 5,324,196 4,963,286
Quarter ended Quarter ended September 30, 2019 September 30, 2018 FFO (3)(4)(6)(7) $0.57 $0.58 FFO with Transactional FFO (3)(4)(6) $0.57 $0.58 Payout ratio to ACFO (3)(4)(6)(7) 88.6% 81.8% Surplus of ACFO over distributions declared (3) 9,946 15,795 Surplus of ACFO over distributions paid (3) 28,320 30,331
(1) Anchors are defined as tenants within a property with leasable area greater than 30,000 square feet. (2) Represents a GAAP measure. (3) Represents a non-GAAP measure. The Trust’s method of calculating non-GAAP measures may differ from other reporting issuers’ methods and accordingly may not be comparable. For definitions and basis of presentation of the Trust’s non-GAAP measures, refer to the “Presentation of Non-GAAP Measures” section in the MD&A. (4) Includes the Trust’s proportionate share of equity accounted investments. (5) Total Units outstanding include Trust Units and LP Units, including Units classified as liabilities. LP Units classified as equity in the unaudited interim condensed consolidated financial statements are presented as non-controlling interests. (6) See “Other Measures of Performance” in the MD&A for a reconciliation of these measures to the nearest consolidated financial statement measure. (7) The calculation of the Trust’s FFO and ACFO and related payout ratios, including comparative amounts, are financial metrics that were determined based on the February 2019 REALpac White Paper on FFO and ACFO, respectively. Comparison with other reporting issuers may not be appropriate. The payout ratio to ACFO is calculated as declared distributions divided by ACFO.
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 16 DISTRIBUTION REINVESTMENT PLAN
Unitholders who elect to participate will have their monthly cash distributions automatically reinvested in units of SmartCentres at a price equal to 97% of the average TSX market price over the 10 business days preceding the monthly distribution date.
SmartCentres' DRIP will be administered by Computershare Trust Company of Canada. Interested unitholders can also obtain an information package and the necessary registration forms from, or direct any inquiries/concerns regarding the DRIP to, Computershare Trust Company of Canada via telephone at 1-800-564-6253 or via mail at:
SmartCentres Real Estate Investment Trust c/o Computershare Trust Company of Canada 100 University Avenue, 9th Floor Toronto, ON M5J 2Y1
Attention: Dividend Reinvestment Department
DISTRIBUTION HISTORY
Per unit, paid monthly
2019 2018 2017 2016 2015 ($) ($) ($) ($) ($)
January 0.15000 0.14583 0.14167 0.13750 0.13340 February 0.15000 0.14583 0.14167 0.13750 0.13340 March 0.15000 0.14583 0.14167 0.13750 0.13340 April 0.15000 0.14583 0.14167 0.13750 0.13340 May 0.15000 0.14583 0.14167 0.13750 0.13340 June 0.15000 0.14583 0.14167 0.13750 0.13340 July 0.15000 0.14583 0.14167 0.13750 0.13340 August 0.15000 0.14583 0.14167 0.13750 0.13340 September 0.15000 0.14583 0.14167 0.13750 0.13340 October 0.15000 0.14583 0.14167 0.13750 November 0.15000 0.14583 0.14167 0.13750 December 0.15000 0.14583 0.14167 0.13750 Total 1.35000 1.76247 1.71252 1.66251 1.61310
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 17 PERFORMANCE OF SMARTCENTRES UNITS
AVERAGE UNIT TRADING PRICE
Per unit
2019 2018 2017 2016 2015 ($) ($) ($) ($) ($)
1st Quarter 33.16 29.76 32.47 31.33 30.17 2nd Quarter 33.71 29.35 32.22 34.78 29.45 3rd Quarter 32.44 30.79 30.66 36.59 29.75 4th Quarter 30.89 29.81 31.96 31.33 YTD / Annual 33.09 30.26 31.39 33.42 30.29 Closing trading price at end of 32.50 30.83 30.91 32.29 30.19 period
AVERAGE DAILY VOLUME OF UNITS TRADED
2019 2018 2017 2016 2015 ($) ($) ($) ($) ($)
1st Quarter 353,341 237,282 221,865 288,045 200,374 2nd Quarter 249,053 193,917 274,092 198,964 242,372 3rd Quarter 283,186 204,887 181,862 226,367 218,051 4th Quarter 296,705 215,099 278,983 334,127 Annual 294,884 233,138 223,428 247,612 248,924
MARKET CAPITALIZATION SUMMARY
Date Total Units Outstanding (1) Share price per Unit Market Capitalization ($) ($)
September 30, 2019 170,689,152 32.50 5,547,397,440 December 31, 2018 161,716,843 30.83 4,985,730,270 December 31, 2017 159,720,126 30.91 4,936,949,095 December 31, 2016 155,686,295 32.29 5,027,110,466 December 31, 2015 154,088,207 30.19 4,651,922,969
(1) Total Units outstanding include Trust Units and LP Units, including LP Units classified as liabilities. LP Units classified as equity in the consolidated financial statements are presented as non-controlling interests.
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 18 GROSS REVENUE AND AREA BY PROVINCE
GROSS REVENUE BY PROVINCE (%)
1 - Ontario - 63.2% 2 - Quebec - 13.9% 3 - British Columbia - 8.1% 4 - Saskatchewan - 3.9% 5 - Manitoba - 3.2% 6 - Alberta - 3.1% 7 - Newfoundland and Labrador - 2.7% 8 - Nova Scotia - 0.9% 9 - New Brunswick - 0.6% 10 - Prince Edward Island - 0.4%
GROSS AREA BY PROVINCE (%)
1 - Ontario - 58.4% 2 - Quebec - 15.3% 3 - British Columbia - 9.0% 4 - Saskatchewan - 4.4% 5 - Alberta - 4.3% 6 - Manitoba - 3.2% 7 - Newfoundland and Labrador - 3.0% 8 - Nova Scotia - 0.9% 9 - New Brunswick - 0.8% 10 - Prince Edward Island - 0.7%
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 19 TOP 25 TENANTS RANKED BY GROSS RENTAL REVENUE
Average Number of Gross Rental Remaining Rank Tenant Stores Revenues Lease Term (%) (years) 1 Walmart (1) 101 25.3 5.9 2 Canadian Tire, Mark's, FGL Sports 75 4.7 4.4 3 Winners, HomeSense, Marshalls 56 4.2 5.1 4 Loblaw, Shoppers Drug Mart 24 2.7 6.4 5 Lowe's, RONA 9 2.3 4.7 6 Sobeys 18 2.3 3.6 7 Reitmans 87 1.9 2.5 8 Best Buy 21 1.7 3.5 9 Dollarama 52 1.7 3.5 10 LCBO 34 1.5 6.9 11 Michaels 25 1.5 2.8 12 Recipe Unlimited 52 1.4 6.1 13 Staples 21 1.3 3.1 14 Gap Inc. 26 1.2 3.1 15 Bonnie Togs 47 1.1 3.7 16 Bulk Barn 52 1.0 5.4 17 Toys R Us 7 0.9 5.6 18 CIBC 27 0.9 2.2 19 The Brick 10 0.9 4.2 20 Dollar Tree, Dollar Giant 27 0.8 3.9 21 Sleep Country 37 0.8 6.3 22 Ricki's, Cleo, Urban Barn, Warehouse One 38 0.8 4.8 23 Metro 8 0.8 4.6 24 GoodLife Fitness Clubs 11 0.8 7.3 25 Sail 3 0.8 7.4
Total 868 63.3 5.3
(1) The Trust has a total of 101 Walmart locations under lease, of which 99 are Supercentres. The Trust has 14 shopping centres with Walmart as shadow anchors, all of which are Supercentres.
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 20 LEASE EXPIRATION SCHEDULE
Number Annualized Average Year of Expiry of Stores Area Area Base Rent Rent (sq. ft.) (%) ($) ($ psf)
Month-to-month and holdovers 119 351,005 1.0 7,648,000 21.79 2019 (remainder of year) 64 231,086 0.7 3,288,000 14.23 2020 413 3,372,443 9.8 46,143,000 13.68 2021 426 3,808,648 11.1 54,462,000 14.30 2022 433 4,441,811 13.0 63,825,000 14.38 2023 551 4,432,588 12.9 77,195,000 17.48 2024 438 4,513,067 13.2 69,707,000 15.45 2025 176 2,122,796 6.2 30,151,000 14.20 2026 157 1,493,302 4.4 26,528,000 17.77 2027 137 2,240,827 6.5 33,002,000 14.78 2028 156 1,405,847 4.1 25,891,000 18.54 2029 175 2,208,662 6.4 35,854,000 16.32 2030 29 715,698 2.1 12,236,000 17.10 2031 8 392,470 1.1 5,471,000 17.05 2032 9 849,102 2.5 12,532,000 14.76 2033 9 242,168 0.7 3,503,000 14.47 2034 2 284,992 0.8 3,628,000 14.78 Beyond 5 269,767 0.9 4,239,000 15.71 Vacant 232 659,283 1.9 - -
Total Retail 3,539 34,035,562 99.3 515,303,000 15.44
Total Office 25 240,990 0.7
Total Retail and Office 3,564 34,276,552 100.0
Weighted Average Lease Expiry by area = 5.2 years
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 21 AREA BY AGE (RETAIL ONLY)
Age Area Area (sq. ft.) (%)
2002 - present 25,305,620 73.9 1995 - 2001 7,487,646 21.8 Before 1995 1,483,286 4.3
Total 34,276,552 100.0
Portfolio of high quality, newly developed assets with an average age of 15.6 years and minimal capital expenditure requirements.
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 22 FUTURE RETAIL DEVELOPMENTS, EARNOUTS AND MEZZANINE FINANCING
Total Gross Invested Net Yield / Year Area Area Income Commitment To-date Commitment Cap Rate (sq. ft.) (%) ($000s) ($000s) ($000s) ($000s) (%) DEVELOPMENTS Committed Developments 2019 47,237 1.7% 1,148 15,959 (2) 8,367 (2) 7,592 7.2% (3) 2020 and beyond 204,690 7.3% 3,576 62,359 (2) 27,715 (2) 34,644 5.7% (3) Total Committed Developments 251,927 9.0% 4,724 78,318 36,082 42,236 6.0%
Uncommitted Developments 2019 49,969 1.8% 593 12,594 (2) 9,873 (2) 2,721 4.7% (3) 2020 and beyond 2,228,616 79.8% 42,258 745,154 (2) 300,848 (2) 444,306 5.7% (3) Total Uncommitted Developments 2,278,585 81.6% 42,851 757,748 310,721 447,027 5.7%
Total Developments 2,530,512 90.6% 47,575 836,066 346,803 (1) 489,263 5.7%
EARNOUTS Committed Earnouts 2019 14,758 0.5% 255 3,660 367 3,293 7.0% 2020 and beyond 7,710 0.3% 223 3,458 2,887 571 6.4% Total Committed Earnouts 22,468 0.8% 478 7,118 3,254 3,864 6.7%
Uncommitted Earnouts 2019 - 0.0% - - - - 0.0% 2020 and beyond 240,952 8.6% 4,874 72,012 3,752 68,260 6.8% Total Uncommitted Earnouts 240,952 8.6% 4,874 72,012 3,752 68,260 6.8%
Total Earnouts 263,420 9.4% 5,352 79,130 7,006 (1) 72,124 6.8%
Total before non-cash development cost 2,793,932 100.0% 52,927 915,196 353,809 561,387 5.8% Non-cash Development Cost (4) 73,992 (1) Land / Parcel Sales 121,187 (1) Equity Accounted Investments 118,117 (1) Total 2,793,932 100.0% 52,927 915,196 667,105 (1) 561,387 5.8% Options through Mezzanine Financing 614,901 Total Potential Pipeline 3,408,833
(1) Under “Properties Under Development” in the MD&A for the three and nine months ended September 30, 2019, Earnouts of $49,314, Developments of $499,674 and Equity Accounted Investments of $118,117 comprise the total amount of $667,105. The amounts in the chart above have been adjusted for Earnouts that are expected to be completed after the expiry of the Earnout options being reclassified as Developments. (2) Includes fair value adjustment for land. (3) On a cost basis, the yield would be 6.1%, 5.2%, 4.6%, and 4.8%, respectively. (4) Represents net liability currently recorded.
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 23 MAJOR MIXED-USE DEVELOPMENT INITIATIVES
Estimated Costs ($M) Estimated Gain on Final Sale and Timing
GLA SRU 100% Site Project Type ('000sf) / Completion % Share Share SRU Share Yield Profit % SRU Share Timing Units Year
1. VMC (Office Towers) a. KPMG (T#1) Office 360sf 2016 50% $180 $90.0 5.7% — — — (2) b. PwC-YMCA (T#2) Office 113sf 2019 50% $65 $32.5 5.0%-5.5% — — — c. Office (T#3) Office 600sf 2024 50% $375 $187.5 4.8%-5.5% — — — d. Office (T#4) Office 300sf 2026 50% $210 $105.0 4.8%-5.5% — — —
2. New Premium Outlets Premium (JV) Retail 360sf 2022 50% $136 $68.0 8.0%-8.5% — — — (Simon Property Group)
(1) 3. Laval Centre Jadco Apartments 338 Units 2020-2022 50% $82 $41.0 5.3%-5.8% — — — (2 Buildings)
4. VMC (Condos) CentreCourt Transit City 1 551 Units 2020-2021 25% $187 $46.8 N/A 40%-45% 25% 2020-2021 (3) CentreCourt Transit City 2 570 Units 2020-2021 25% $194 $48.5 N/A 40%-45% 25% 2020-2021 CentreCourt Transit City 3 631 Units 2021 25% $218 $54.5 N/A 30%-35% 25% 2021 CentreCourt Transit City 4 498 Units 2023 25% $200 $50.0 N/A 20%-25% 25% 2023 CentreCourt Transit City 5 528 Units 2023 25% $219 $54.8 N/A 20%-25% 25% 2023
(1) 5. VMC (Apartments) VMC Rental Apartments Apartments 451 Units 2023-2024 50% $225 $112.5 4.2%-4.6% — — —
6. Vaughan NW Fieldgate Low/Mid Rise 175 Units 2022-2023 50% $100-$120 $50.0-$60.0 N/A 10%-15% 50% 2022-2023 Residential
(1) 7. Ottawa Laurentian Selection Group Apartments/ 410 Units 2022 50% $150 $75.0 6.0%-7.0% — — — (2 Buildings) Retirement Residence
(1) 8. Multiple Locations Self-Storage (JV) Self-Storage 500sf built 2019-2025 50% $60M per $30M per 7.0%-8.5% — — — (7 Approved Projects – (SmartStop) (4 to 5 new per year in year in each year in each Toronto (Leaside), Oshawa, facilities each each of of years 1-5 of years 1-5 Brampton (2 projects), year) years 1-5 Vaughan, Toronto (Scarborough), Markham)
9. StudioCentre (Toronto) SRU-Penguin JV Mixed-Use 150sf 2022-2023 50% $53 $26.5 6.0%-7.0% — — — (Office, Studio, Hotel)
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 24 MAJOR MIXED-USE DEVELOPMENT INITIATIVES
Estimated Costs ($M) Estimated Gain on Final Sale and Timing
GLA SRU 100% Site Project Type ('000sf) / Completion % Share Share SRU Share Yield Profit % SRU Share Timing Units Year
10. Pointe-Claire Rental Apartments Apartments 300 Units 2022-2023 50% $115 $57.5 4.5%-5.0% — — — (1) (Apartments) (2 Buildings)
11. Pointe-Claire (Condo) Condo Condo 200 Units 2024 50% $55 $27.4 N/A 10%-15% 50% 2024
(1) 12. Multiple Locations Retirement Living Retirement 600sf built 2022-2025 50% $100M per $50M per 6.0%-7.5% — — — (3 Approved Projects – Residences (JV) Residences & per year in year per site year per site Vaughan (2 projects), (Revera) Seniors each of in each of in each of Oakville) Apartments years 1-5 years 1-5 years 1-5 (3 to 5 new facilities each year)
(1) 13. Barrie (Apartments) Rental Apartments Apartments 421 Units 2023 50% $186 $92.9 4.5%-5.0% — — — (Phase 1)
Notes: (1) Stabilization is estimated to be 1 to 3 years after completion. (2) Excludes 112,000 sf of YMCA, library, and community use space. (3) Includes 11 Townhouse units that have not yet been released for sale.
Estimated Transactional FFO Gains on Sale related to parcel sales of land into Joint Ventures estimated at 1%-2% of annual FFO at SmartCentres' ownership share.
In addition to the projects set out in the table above, SmartCentres' pipeline also includes approximately 2.8 million square feet of future developments as set out in the table shown on the “Future Earnouts and Developments” section. In addition to the above, SmartCentres has a further mixed-use development pipeline in excess of 9 million square feet in projects that are underway or active. Further, SmartCentres will initiate activities in the short-term to work towards development in excess of 15 million square feet in mixed-use initiatives that will be completed in the longer-term.
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 25 MORTGAGES RECEIVABLE (MEZZANINE FINANCING)
Total Leasable Potential Area Loan Interest Area upon Upon Exercising Project Outstanding Committed Maturity Date Rate Option Completion Purchase Option ($000s) ($000s) (%) (%) (1) (sq. ft.) (sq. ft.) (7)
Salmon Arm, BC (2)(3) 15,154 20,064 April 2020 4.96% — 215,431 —
Innisfil, ON (2)(4) 21,396 27,077 December 2020 6.75% — 139,744 —
Aurora (South), ON 16,797 30,543 March 2022 4.85% 50% 194,479 97,240
Mirabel (Shopping Centre), QC (5) 0 18,262 December 2022 7.50% — — —
Mirabel (Option Lands), QC (6) 0 5,721 December 2022 7.50% — 178,068 —
Pitt Meadows, BC 28,998 68,664 November 2023 5.27% 50% 73,900 36,950
Vaughan (7 & 427), ON 17,587 52,277 December 2023 5.39% 50% 302,029 151,015
Caledon (Mayfield), ON 9,816 14,033 April 2024 5.12% 50% 203,730 101,865
Toronto (StudioCentre), ON (2) 28,305 43,759 June 2024 5.09% 25% 911,322 227,831
Total 138,053 280,400 5.38%(7) 2,218,703 614,901
(1) The Trust has a purchase option from the borrower in these properties upon a certain level of development and leasing being achieved. As at September 30, 2019, it is management’s expectation that the Trust will exercise these purchase options. (2) The Trust owns a 50% interest in these properties, with the other 50% interest owned by Penguin. These loans are secured against Penguin’s interest in the property. (3) Monthly variable rate based on a fixed rate of 6.35% on loans outstanding up to $7,237 and the banker's acceptance rate plus 1.75% on any additional loans above $7,237. In July 2019, the loan was amended to reflect a maturity date of April 2020. (4) In August 2018, the interest rate on this mortgage reset to the four-year Government of Canada bond rate plus 4.0%, subject to a lower limit of 6.75% and an upper limit of 7.75%. Prior to August 2018, the interest rate was based on the banker's acceptance rate plus 2.0%. (5) The Trust owns a 33.3% interest in this property. The loan is secured against a 33.3% interest owned by Penguin, as well as a guarantee by Penguin. (6) The Trust owns a 25% interest in this property. The loan is secured against a 25% interest owned by Penguin, as well as a guarantee by Penguin. (7) Represents the weighted average interest rate.
Note: Of the $142.3 million of remaining loan advances available, $65.5 million is expected to be applied as interest on outstanding balances, and the remaining $76.9 is expected to be used to fund development and related costs.
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 26 INDIVIDUAL PROPERTY SUMMARY
Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)
RETAIL PROPERTIES
BRITISH COLUMBIA
Chilliwack Mall Chilliwack, BC 100.0 124,011 46,544 — Safeway, Winners, Sport Chek
Walmart Supercentre, Winners, Courtenay SmartCentre Courtenay, BC 96.9 273,289 135,899 — Staples, Best Buy, Sport Chek, Mark's, Reitmans Walmart Supercentre, Real Canadian Superstore*, Home Cranbrook SmartCentre Cranbrook, BC 100.0 164,025 107,158 185,556 Hardware*, Sport Chek, Dollar Tree Walmart Supercentre*, Canadian Cowichan Commons East Duncan, BC 98.1 238,442 188,680 172,609 Tire, Home Depot, Best Buy, Bulk Barn Walmart Supercentre, Michaels, Kamloops SmartCentre Kamloops, BC 95.3 232,800 143,619 — Lordco Auto Parts, Pier 1 Imports, Sleep Country Walmart Supercentre, Home Langley SmartCentre Langley, BC 99.3 351,225 255,527 172,161 Depot*, Save-on-Foods*, London Drugs, Home Outfitters, Best Buy Walmart Supercentre, Thrifty Maple Ridge SmartCentre Maple Ridge, BC 93.6 216,758 146,521 — Foods, Westminster Savings Credit Union, Dollar Tree Walmart Supercentre, Old Navy, New Westminster New Westminster, BC 91.7 380,090 159,449 — Tommy Hilfiger, The Gap, Carter's SmartCentre OshKosh Walmart Supercentre*, Sport Peachtree Square Penticton, BC 79.3 54,915 — 175,000 Chek, Dollar Tree, Valley First Credit Union, Bulk Barn Real Canadian Superstore, Penticton Power Centre Penticton, BC 98.7 216,686 110,795 — Staples, Winners, PetSmart, Sleep Country, TD Canada Trust Walmart Supercentre, Home Prince George Prince George, BC 96.3 313,390 165,350 204,247 Depot*, Canadian Tire*, Michaels, SmartCentre Old Navy, Mark's, Petland
Walmart Supercentre, Winners, Salmon Arm SmartCentre** Salmon Arm, BC 100.0 67,324 48,345 — Dollarama, Bulk Barn
Walmart Supercentre, Dollar Tree, Surrey West SmartCentre Surrey, BC 98.6 190,477 133,943 — Ardene, Sleep Country, Reitmans, Carter's OshKosh Walmart Supercentre, RONA*, Vernon SmartCentre Vernon, BC 99.6 266,110 144,782 50,300 Best Buy, Value Village, Mark's, Petland, Sleep Country
Subtotal British Columbia 96.7 3,089,542 1,786,612 959,873
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 27 INDIVIDUAL PROPERTY SUMMARY
Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)
ALBERTA
Walmart Supercentre, London Calgary Southeast Calgary, AB 99.0 246,085 199,758 — Drugs, Mark's, Reitmans, Carter's SmartCentre OshKosh, Bulk Barn Walmart Supercentre, Safeway, Edmonton East Edmonton, AB 95.7 180,100 94,835 — Winners, Fit4Less, Petland, SmartCentre** Dollarama Walmart Supercentre, Your Dollar Edmonton Northeast Edmonton, AB 94.7 274,353 161,925 — Store With More, Michaels, Bulk SmartCentre Barn, Moores, Penningtons
Lethbridge II SmartCentre Lethbridge, AB 100.0 53,392 40,373 — Sobeys
Walmart Supercentre, Home Lethbridge SmartCentre Lethbridge, AB 96.1 326,855 194,564 95,000 Depot*, Best Buy, Ashley Furniture, Mark's, Gap Outlet Walmart Supercentre, Save-on- St. Albert SmartCentre St. Albert, AB 97.8 251,329 197,101 91,737 Foods*, RONA*, Dollarama, Canadian Western Bank
Walmart Supercentre, Canadian Sylvan Lake SmartCentre Sylvan Lake, AB 100.0 131,983 115,829 68,947 Tire*, Dollarama
Subtotal Alberta 97.1 1,464,097 1,004,385 255,684
SASKATCHEWAN
Loblaws, GoodLife Fitness, Golden Mile Shopping Regina, SK 93.7 259,317 93,938 — Rainbow Cinemas, Dollarama, Centre Bison Liquor, RBC Walmart Supercentre, Regina East HomeSense, London Drugs, Best Regina, SK 99.1 389,556 249,523 — SmartCentre (I) Buy, Marshalls, Michaels, Pier 1 Imports RONA, Real Canadian Regina East Regina, SK 98.6 198,134 107,608 130,000 Superstore*, Planet Fitness, SmartCentre (II) PetSmart, Old Navy, Petland Walmart Supercentre, IGA, Regina North SmartCentre Regina, SK 99.4 276,251 206,339 — Mark's, Dollarama, TD Canada Trust, Reitmans, Bulk Barn Walmart Supercentre, Home Saskatoon South Saskatoon, SK 100.0 380,642 194,210 109,084 Depot*, HomeSense, The Brick, SmartCentre Ashley Furniture, Golf Town
Subtotal Saskatchewan 98.4 1,503,900 851,618 239,084
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 28 INDIVIDUAL PROPERTY SUMMARY
Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)
MANITOBA
RONA, Costco*, Indigo Books, Kenaston Common Winnipeg, MB 100.0 257,222 98,570 143,613 Golf Town, Petland, Nygard, SmartCentre CIBC, HSBC, RBC Walmart Supercentre, Home Winnipeg Southwest Depot*, Safeway, Home Winnipeg, MB 96.4 487,519 281,606 95,000 SmartCentre Outfitters, HomeSense, Urban Planet Walmart Supercentre, Canadian Winnipeg West Winnipeg, MB 99.3 354,679 171,146 75,240 Tire*, Sobeys, Winners, Value SmartCentre Village, Sport Chek, Staples
Subtotal Manitoba 98.2 1,099,420 551,322 313,853
ONTARIO
Walmart Supercentre, Dollarama, Alliston SmartCentre Alliston, ON 100.0 170,770 151,709 — Tim Hortons
Walmart Supercentre, Canadian Ancaster SmartCentre Ancaster, ON 97.5 264,783 163,794 74,018 Tire*, Winners, GoodLife Fitness, Bouclair, Dollar Tree Walmart Supercentre, Reno Aurora North Depot, Best Buy, Golf Town, Aurora, ON 97.7 509,325 313,637 — SmartCentre(2) LCBO, Dollarama, RBC, TD Canada Trust
Winners, Healthy Planet, Bank of Aurora SmartCentre Aurora, ON 100.0 51,186 — — Nova Scotia
Food Basics, Pharma Plus, Barrie Essa Road Barrie, ON 96.1 104,869 35,152 — Dollarama, Anytime Fitness, Pet Shopping Centre(2) Valu, Tim Hortons
Walmart Supercentre, Loblaws*, Barrie North SmartCentre Barrie, ON 98.3 234,701 160,727 81,373 Old Navy, Carter's OshKosh, Addition-Elle, Reitmans Walmart Supercentre, Sobeys, Barrie South Winners, La-Z-Boy, Indigo Books, Barrie, ON 100.0 413,784 243,629 — SmartCentre(2) PetSmart, Urban Planet, Dollar Tree
Walmart Supercentre, LCBO, Bolton SmartCentre Bolton, ON 97.9 242,444 161,864 — Mark's, The Beer Store, Reitmans
Walmart Supercentre, Home Bracebridge SmartCentre Bracebridge, ON 100.0 142,501 115,779 90,000 Depot*, Dollar Tree, Boston Pizza, Bulk Barn
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 29 INDIVIDUAL PROPERTY SUMMARY
Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)
Walmart Supercentre, GoodLife Bradford SmartCentre Bradford, ON 100.0 279,302 168,571 — Fitness, Marshalls, Dollarama, Bulk Barn, CIBC, RBC
Bramport SmartCentre (II) Brampton, ON 100.0 37,857 37,857 — No Frills
Walmart Supercentre, The Brick, Brampton East Brampton, ON 100.0 360,695 243,610 — Winners, Staples, Mark's, Dollar SmartCentre Tree, Carter's OshKosh
Brampton North Fortinos*, Shoppers Drug Mart, Brampton, ON 97.7 58,996 — 62,496 SmartCentre RBC
Walmart Supercentre, GoodLife Brampton Northeast Brampton, ON 100.0 247,641 153,455 — Fitness, LCBO, Dollarama, CIBC, SmartCentre Bank of Nova Scotia, RBC
Giant Tiger, GoodLife Fitness, Kingspoint Shopping Brampton, ON 96.7 184,186 78,307 — Shoppers Drug Mart, The Beer Centre Store
Walmart Supercentre*, Real Brockville SmartCentre Brockville, ON 96.2 144,084 — 322,054 Canadian Superstore*, Home Depot*, Winners, Michaels, LCBO
Toys R Us, LA Fitness, Shoppers Burlington (Appleby) Burlington, ON 100.0 151,115 100,646 — Drug Mart, Golf Town, Bank of SmartCentre Montreal
Walmart Supercentre, Dollar Tree, Burlington North Burlington, ON 100.0 226,451 161,127 — Reitmans, Moores, Bank of Nova SmartCentre Scotia
Walmart Supercentre, RONA, LA Cambridge Cambridge, ON 95.6 732,882 323,394 — Fitness, Best Buy, Staples, Bed SmartCentre (I)(2) Bath & Beyond, Michaels
Cambridge Canadian Tire*, Home Depot*, Cambridge, ON 83.0 29,809 — 224,695 SmartCentre (II) Allstate Insurance
Carleton Place Walmart Supercentre, Dollarama, Carleton Place, ON 97.5 148,833 115,811 — SmartCentre Mark's, Bulk Barn
Walmart Supercentre, Real Canadian Superstore*, Winners, Chatham SmartCentre** Chatham, ON 98.4 154,545 101,053 91,275 Mark's, PetSmart, Dollarama, LCBO Walmart Supercentre, Home Cobourg SmartCentre Cobourg, ON 99.0 197,928 142,634 85,433 Depot*, Winners, Dollar Tree, Swiss Chalet
Walmart Supercentre, Dollar Tree, Cornwall SmartCentre Cornwall, ON 100.0 171,176 154,510 — Bank of Montreal
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 30 INDIVIDUAL PROPERTY SUMMARY
Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)
Sail, Marshalls, PetSmart, Party Etobicoke (Index) Etobicoke, ON 96.8 188,059 107,838 — Packagers, Structube, Bouclair, SmartCentre Penningtons
Walmart Supercentre, Home Etobicoke SmartCentre(2) Etobicoke, ON 95.8 305,096 199,824 135,000 Depot*, Best Buy, Winners, Old Navy, Mark's, Urban Barn
Walmart Supercentre*, Dollarama, Rexdale SmartCentre Etobicoke, ON 92.7 35,174 — 126,083 Bank of Nova Scotia
Fergus SmartCentre Fergus, ON 100.0 109,652 95,035 — Walmart Supercentre, LCBO
Walmart Supercentre*, No Frills*, Fort Erie SmartCentre Fort Erie, ON 100.0 12,738 — 140,142 LCBO, Bank of Nova Scotia
Walmart Supercentre, Home Guelph SmartCentre Guelph, ON 98.3 296,116 171,396 110,000 Depot*, HomeSense, Michaels, Dollarama, CIBC, RBC
Saks Fifth Avenue OFF 5TH, Polo Toronto Premium Outlets** Halton Hills, ON 95.6 252,625 — — Ralph Lauren, Restoration Hardware, Nike, Columbia, Coach
Walmart Supercentre, Shoppers Hamilton South Hamilton, ON 99.4 241,880 124,524 — Drug Mart, LCBO, Dollarama, The SmartCentre Beer Store, CIBC
Walmart Supercentre, Your Huntsville SmartCentre Huntsville, ON 100.0 126,436 84,861 68,837 Independent Grocer*, Dollar Tree, Mark's, Reitmans
Walmart Supercentre, Dollarama, Kanata SmartCentre Kanata, ON 100.0 201,548 155,739 — Bulk Barn, CIBC, RBC
Laurentian Power Centre Kitchener, ON 100.0 35,200 — 220,978 RONA*, Zehrs*, Staples, CIBC
Walmart Supercentre, Toys R Us, London East Argyle Mall(2) London, ON 100.0 424,990 224,281 — No Frills, Winners, Staples, Sport Chek, GoodLife Fitness
Walmart Supercentre, Canadian London North London, ON 98.6 250,050 131,671 108,262 Tire*, Marshalls, Winners, Sport SmartCentre** Chek, HomeSense, Old Navy
Lowe's*, Boston Pizza, Bank of London Northwest London, ON 100.0 36,214 — 137,316 Montreal, Montana's, Kelsey's, SmartCentre RBC
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 31 INDIVIDUAL PROPERTY SUMMARY
Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)
Markham East Walmart Supercentre, Dollar Tree, Markham, ON 100.0 69,008 61,207 — SmartCentre** CIBC
Home Depot, Longo's*, Winners, Markham Woodside Markham, ON 100.0 179,950 80,385 — Staples, Chapters, Michaels, La- SmartCentre** Z-Boy, LCBO
Walmart Supercentre*, Canadian Milton Walmart Centre** Milton, ON 97.6 116,716 — 227,896 Tire*, Sport Chek, Indigo Books, Michaels, Mark's, Staples, RBC
Burnhamthorpe Government, Swiss Chalet, Mississauga, ON 89.8 200,356 — — SmartCentre Remax
Walmart Supercentre, Costco, LCBO, Dollarama, The Beer Creekside Crossing** Mississauga, ON 100.0 121,648 91,385 — Store, CIBC, TD Canada Trust, RBC Walmart Supercentre, No Frills, Mississauga (Erin Mills) Mississauga, ON 95.4 290,562 171,973 — GoodLife Fitness, Shoppers Drug SmartCentre(2) Mart, Dollarama
Real Canadian Superstore*, Toys Mississauga (Go Lands) Mississauga, ON 100.0 119,612 50,696 115,000 R Us, Marshalls, Dollarama, TD SmartCentre Canada Trust
Walmart Supercentre, RONA, Mississauga (Meadowvale) Mississauga, ON 100.0 557,774 319,275 — Winners, Staples, Michaels, SmartCentre(2) Mark's, PetSmart, LCBO
Walmart Supercentre, PetSmart, Niagara Falls SmartCentre Niagara Falls, ON 99.0 249,745 183,698 — Penningtons, Dollarama, LCBO, Sleep Country, Bulk Barn
Real Canadian Superstore*, 401 & Weston Power North York, ON 100.0 106,617 58,071 180,000 Canadian Tire, The Brick, Best Centre** Buy, LCBO, Mark's, Dollar Tree
Walmart Supercentre, Real Oakville SmartCentre(2) Oakville, ON 100.0 461,226 314,588 — Canadian Superstore, LCBO, The Beer Store, The Keg, CIBC, RBC
Metro, Winners, Shoppers Drug South Oakville Centre Oakville, ON 100.0 169,776 41,289 — Mart, LCBO, The Beer Store, CIBC, TD Canada Trust
Walmart Supercentre, Winners, Orillia SmartCentre Orillia, ON 100.0 241,659 165,902 — Staples, Michaels, Dollarama
Walmart Supercentre, Canadian Orleans SmartCentre (I) Orleans, ON 94.0 384,015 232,635 117,136 Tire*, Home Outfitters, Best Buy, Shoppers Drug Mart
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 32 INDIVIDUAL PROPERTY SUMMARY
Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)
Orleans SmartCentre (II)** Orleans, ON 100.0 38,435 — — Indigo Books, Marshalls
Walmart Supercentre, Real Oshawa North Canadian Superstore, Home Oshawa, ON 97.5 582,367 341,007 116,348 SmartCentre(2) Depot*, Marshalls, Sport Chek, Best Buy, Michaels Home Outfitters, Winners, Oshawa North Oshawa, ON 98.2 163,259 34,109 — PetSmart, Party Packagers, SmartCentre (II) Boston Pizza, TD Canada Trust
Ottawa (Laurentian Place) Walmart Supercentre, Stantec, Ottawa, ON 99.4 128,939 112,391 — SmartCentre** CIBC
Walmart Supercentre, Loblaws, Ottawa South Ottawa, ON 97.5 252,003 156,471 — Cineplex Odeon, Marshalls, SmartCentre** Winners, Chapters
Walmart Supercentre, Home Owen Sound SmartCentre Owen Sound, ON 100.0 163,101 105,963 130,000 Depot*, Penningtons, Dollarama, Carter's OshKosh, Reitmans
Walmart Supercentre, Lowe's, Pickering SmartCentre(2) Pickering, ON 97.9 489,787 363,446 82,000 Sobeys, Canadian Tire*, Toys R Us, PetSmart, LCBO
Port Elgin SmartCentre Port Elgin, ON 100.0 115,524 115,524 — Walmart Supercentre
Walmart Supercentre, LCBO, Port Perry SmartCentre Port Perry, ON 100.0 138,789 92,473 — Dollarama, Mark's, Bulk Barn, Bank of Nova Scotia
Walmart Supercentre, Food Richmond Hill Richmond Hill, ON 99.1 136,306 94,458 — Basics, Shoppers Drug Mart, SmartCentre** HSBC, Bank of Montreal
Walmart Supercentre, Rona*, Rockland SmartCentre Rockland, ON 99.0 147,592 115,890 24,253 Dollarama, LCBO, Boston Pizza
Walmart Supercentre, Winners, Sarnia SmartCentre Sarnia, ON 100.0 342,617 214,513 — Michaels, PetSmart, LCBO, Dollarama, Penningtons
Walmart Supercentre, Winners, Scarborough (1900 Scarborough, ON 97.2 380,090 254,693 — Mark's, LCBO, David's Bridal, Eglinton) SmartCentre(2) Bank of Montreal
Walmart Supercentre, Cineplex Scarborough East Scarborough, ON 99.1 282,156 225,385 — Odeon, LCBO, Reitmans, Boston SmartCentre Pizza, Sleep Country
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 33 INDIVIDUAL PROPERTY SUMMARY
Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)
Walmart Supercentre, LCBO, Simcoe SmartCentre Simcoe, ON 100.0 139,919 111,294 — Dollar Tree
Food Basics, Provincial Hartzel Plaza St. Catharines, ON 100.0 67,972 34,522 — Government
Walmart Supercentre, Canadian Lincoln Value Centre St. Catharines, ON 98.9 307,877 214,891 — Tire, No Frills, Dollarama
Walmart Supercentre, Real St. Catharines West St. Catharines, ON 99.3 370,112 230,513 182,132 Canadian Superstore*, Canadian SmartCentre (I) Tire*, Home Outfitters, Best Buy
St. Catharines West The Brick, Michaels, Shoppers St. Catharines, ON 100.0 120,438 35,108 — SmartCentre (II) Drug Mart, Golf Town, Bouclair
Walmart Supercentre, Real St. Thomas SmartCentre St. Thomas, ON 100.0 224,390 138,567 196,212 Canadian Superstore*, Canadian Tire*, Staples, Dollar Tree
Food Basics, JYSK, King's Buffet, Centennial Parkway Plaza Stoney Creek, ON 100.0 109,177 39,271 — Salvation Army Thrift Store
Walmart Supercentre, Toys R Us, Stoney Creek SmartCentre Stoney Creek, ON 100.0 257,064 228,795 — Dollar Tree
Walmart Supercentre*, Canadian Stouffville SmartCentre Stouffville, ON 100.0 162,968 69,283 162,633 Tire, Winners, Staples, Dollarama, Bouclair, Bulk Barn
Sudbury South Walmart Supercentre, LCBO, Sudbury, ON 100.0 233,046 183,708 — SmartCentre Mark's, Dollarama, Bouclair
Toronto Stockyards Walmart Supercentre*, Bank of Toronto, ON 100.0 8,615 — 128,194 SmartCentre(2) Montreal, Fairstone Financial
Canadian Tire, FreshCo, Dollar Westside Mall Toronto, ON 96.2 144,405 110,019 — Tree, Rogers, CIBC
No Frills, City of Toronto, Planet Yorkgate Shopping Centre Toronto, ON 98.2 215,010 75,055 — Fitness, Seneca College, Dollarama
Rutherford Village Sobeys, TD Canada Trust, Vaughan, ON 97.9 104,302 48,890 — Shopping Centre Rogers, Tim Hortons
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 34 INDIVIDUAL PROPERTY SUMMARY
Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)
Sail, The Brick, Home Depot*, Vaughan (400 & 7) Vaughan, ON 100.0 216,342 124,989 100,000 Value Village, GoodLife Fitness, SmartCentre Fabricland
Walmart Supercentre, Value Waterloo SmartCentre Waterloo, ON 100.0 181,623 128,005 — Village, Mark's, Dollarama
Walmart Supercentre, Canadian Welland SmartCentre Welland, ON 100.0 240,663 221,327 100,667 Tire*, RONA, Mark's, Dollar Tree
Walmart Supercentre, Real Whitby North SmartCentre Whitby, ON 100.0 279,153 178,841 148,571 Canadian Superstore*, Mark's, LCBO, Bank of Nova Scotia
Whitby Northeast Boston Pizza, Swiss Chalet, RBC, Whitby, ON 100.0 39,249 — — SmartCentre Popeyes
Metro, LCBO, Bank of Nova Whitby Shores Shopping Whitby, ON 100.0 85,602 39,919 — Scotia, Lovell Drugs, Pet Valu, Centre Tim Hortons
Walmart Supercentre, Part Windsor South Windsor, ON 98.5 231,811 129,121 — Source, Dollarama, PetSmart, SmartCentre Moores, The Beer Store, CIBC
Canadian Tire*, Fortinos*, Woodbridge SmartCentre** Woodbridge, ON 95.6 216,936 32,630 142,073 Winners, Best Buy, Toys R Us, Chapters, Michaels, Sport Chek
Walmart Supercentre, Canadian Woodstock SmartCentre Woodstock, ON 97.1 257,220 170,764 91,254 Tire*, Staples, Mark's, Carter's OshKosh, CIBC, Reitmans
Subtotal Ontario 98.5 18,619,164 10,965,374 4,322,331
QUEBEC
Walmart Supercentre, Winners, Blainville SmartCentre Blainville, QC 100.0 206,551 131,537 - Dollarama, Bulk Barn, Bank of Nova Scotia, RBC
Walmart Supercentre, Loblaws*, Hull SmartCentre** Hull, QC 95.6 161,239 80,824 326,717 RONA*, Famous Players*, Super C*, Winners, Staples
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 35 INDIVIDUAL PROPERTY SUMMARY
Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)
Walmart Supercentre, The Brick, Kirkland SmartCentre Kirkland, QC 100.0 186,031 181,086 - Bank of Montreal
Walmart Supercentre, HomeSense, Value Village, Lachenaie SmartCentre** Lachenaie, QC 100.0 143,325 78,432 - Michaels, SAQ, Bouclair, Structube Walmart Supercentre, Canadian Laval East SmartCentre Laval, QC 95.5 558,187 340,736 - Tire, IGA, Winners, Michaels, Sports Experts, Bouclair Walmart Supercentre, RONA, Canadian Tire*, IGA*, Laval West SmartCentre Laval, QC 96.6 586,175 280,074 124,000 Archambault, Marshalls, Michaels
Mascouche North RONA*, Jean Coutu, Structube, Mascouche, QC 87.1 62,801 - 120,000 SmartCentre SAQ, McDonald's, Bulk Barn
Walmart Supercentre, IGA, Home Outfitters, Winners, Mascouche SmartCentre Mascouche, QC 99.4 407,799 261,834 - Staples, Best Buy, Bouclair, Mark's The Bay Outlet, Polo Ralph Montreal Premium Mirabel, QC 98.1 183,723 - - Lauren, Old Navy, Nike, Urban Outlets** Planet, Tommy Hilfiger, Coach
Walmart Supercentre, Toys R Montreal (Decarie) Montreal, QC 100.0 132,434 83,858 - Us, Ardene, Baton Rouge, Suzy SmartCentre** Shier, P.F. Chang's, Bulk Barn Walmart Supercentre, IGA, Montreal North Winners, Dollarama, Sleep Montreal, QC 95.9 267,713 173,668 - SmartCentre Country, Bulk Barn, TD Canada Trust Canadian Tire, Super C, Place Bourassa Mall Montreal, QC 92.6 267,912 130,323 - Pharmaprix, L'Aubainerie, Yellow, Urban Depot, Ardene
Walmart Supercentre, Home Pointe Claire SmartCentre Pointe Claire, QC 98.6 372,884 234,402 - Depot, Marks, Dollarama
Walmart Supercentre, Tanguay*, Rimouski SmartCentre Rimouski, QC 98.8 223,696 127,087 104,973 Super C*, Winners, SAQ, Dollarama, Clement, Scores
Walmart Supercentre, Home Saint-Constant Saint-Constant, QC 97.1 361,611 202,613 95,000 Depot*, Super C, L’Aubainerie SmartCentre Concept Mode, Michaels
Walmart Supercentre, Maxi*, Saint-Jean SmartCentre Saint-Jean, QC 98.2 249,981 153,988 80,000 Michaels, Mark's, Bouclair, Reitmans, TD Canada Trust
Walmart Supercentre*, Home Saint-Jerome Saint-Jerome, QC 100.0 164,001 44,856 246,705 Depot*, IGA, Best Buy, Michaels, SmartCentre Bouclair, Dollarama
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 36 INDIVIDUAL PROPERTY SUMMARY
Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)
Walmart Supercentre, Canadian Sherbrooke SmartCentre Sherbrooke, QC 100.0 243,804 196,847 199,588 Tire*, Home Depot*, The Brick, Michaels, Mark's
Valleyfield Plaza Valleyfield, QC 81.3 54,193 - - Mark's, Bouclair, Sleep Country
Walmart Supercentre, Valleyfield SmartCentre Valleyfield, QC 94.6 188,252 133,439 - Dollarama, SAQ, Reitmans, Claire France, Yellow
Walmart Supercentre*, Brunet, Vaudreuil SmartCentre Vaudreuil-Dorion, QC 100.0 16,941 - 159,190 Coco Fruitti
Walmart Supercentre*, Home Victoriaville SmartCentre Victoriaville, QC 100.0 37,784 - 289,519 Depot*, Maxi*, Winners, Carter's OshKosh, Bulk Barn, Reitmans
Subtotal Quebec 97.2 5,077,037 2,835,604 1,745,692
NEW BRUNSWICK
Fredericton North Walmart Supercentre*, Canadian Fredericton, NB 100.0 11,390 — 274,906 SmartCentre Tire*, Kent*, Dollarama
Walmart Supercentre, Kent*, Saint John SmartCentre Saint John, NB 96.1 250,679 128,375 182,122 Canadian Tire*, Winners, Best Buy, Old Navy, Pier 1 Imports
Subtotal New Brunswick 96.2 262,069 128,375 457,028
NOVA SCOTIA Walmart, Atlantic Superstore, Cleve's Source for Sports, Colby Village Plaza Dartmouth, NS 97.8 152,626 108,659 — Pharma Save, Bank of Nova Scotia Atlantic Superstore*, Bed, Bath Halifax Bayers Lake Centre Halifax, NS 97.1 167,940 35,635 80,000 and Beyond, Winners, Cleve's Warehouse Sporting Goods
Subtotal Nova Scotia 97.5 320,566 144,294 80,000
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 37 INDIVIDUAL PROPERTY SUMMARY
Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)
PRINCE EDWARD ISLAND
Walmart Supercentre, Home Charlottetown SmartCentre Charlottetown, PE 98.8 225,057 127,159 114,259 Depot*, Toys R Us*, Michaels, Best Buy, Old Navy, Gap Outlet
Subtotal Prince Edward Island 98.8 225,057 127,159 114,259
NEWFOUNDLAND
Walmart, Canadian Tire*, Corner Brook SmartCentre Corner Brook, NL 100.0 178,988 106,352 136,327 Dominion (Loblaw)*, Staples, Mark's, Buck or Two, Bulk Barn Walmart Supercentre, Dominion (Loblaw)*, Canadian Tire*, Mount Pearl SmartCentre Mount Pearl, NL 99.5 268,534 161,001 174,047 Staples, GoodLife Fitness, Mark's, CIBC
Shoppers Drug Mart, Bulk Barn, Pearlgate Shopping Centre Mount Pearl, NL 100.0 41,490 — — TD Canada Trust
Walmart Supercentre*, Home St. John's Central Depot*, Canadian Tire*, Sobeys, St. John's, NL 100.0 157,773 48,808 311,149 SmartCentre Staples, Mark's, Dollarama, Moores Walmart Supercentre, Dominion St. John's East St. John's, NL 96.9 371,343 128,273 102,818 (Loblaw)*, Winners, Marshalls, SmartCentre Michaels, Sport Chek, Old Navy
Subtotal Newfoundland 98.7 1,018,128 444,434 724,341
Total Retail Properties 98.0 32,678,980 18,839,177 9,212,145
OFFICE PROPERTIES
British Colonial Building Toronto, ON 100.0 16,226 — — Irish Embassy Pubs
Total Office Properties 100.0 16,226 — —
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 38 INDIVIDUAL PROPERTY SUMMARY
Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)
MIXED-USE PROPERTIES
LA Fitness, Value Village, LCBO, Bramport SmartCentre Brampton, ON 100.0 163,450 45,877 37,082 Dollarama, Swiss Chalet, CIBC, Bank of Montreal
Home Depot*, Winners, Sobeys, Leaside SmartCentre East York, ON 98.0 257,954 108,632 113,000 Sport Chek, Best Buy, LCBO, Golf Town, RBC
Walmart Supercentre, Lowe's, Oshawa South Oshawa, ON 98.8 519,278 430,536 — Sail, CIBC, Dollarama, Moores, SmartCentre RBC
Vaughan Northwest Vaughan, ON 99.0 181,960 128,791 — Walmart Supercentre, CIBC SmartCentre
Walmart Supercentre, KPMG, PwC, GFL, FM Global, Miller Vaughan Metropolitan Thomson LLP, Marc Anthony Vaughan, ON 100.0 296,899 121,673 — Centre Cosmetics, Harley Davidson, BMO Wealth Management, TD Canada Trust
Laval Centre Laval, QC 100.0 159,779 159,779 130,000 Walmart Supercentre, Leon's*
Total Mixed-Use Properties 99.2 1,579,320 995,288 280,082
STREET RETAIL PROPERTIES
2131 Lakeshore Blvd. W. Toronto, ON 100.0 2,026 — — Penguin Pick Up
Total Street Retail Properties 100.0 2,026 — —
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 39 INDIVIDUAL PROPERTY SUMMARY
Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)
DEVELOPMENT PROPERTIES
Quesnel SmartCentre Quesnel, BC — — — 82,316 Walmart Supercentre*
Barrie Waterfront** Barrie, ON — — — — —
Dunnville SmartCentre Dunnville, ON — — — 129,343 Canadian Tire*, Sobeys*
Innisfil SmartCentre** Innisfil, ON — — — — —
StudioCentre** Toronto, ON — — — — —
Jonquiere SmartCentre Jonquiere, QC — — — — —
Mirabel SmartCentre (I)** Mirabel, QC — — — — —
Mirabel SmartCentre (II)** Mirabel, QC — — — — —
Total Development Properties — — — 211,659
Total Portfolio 98.1 34,276,552 19,834,465 9,703,886
* Non-owned anchor. ** The Trust has a partial ownership interest (the Trust owns a 25% interest in Mirabel SmartCentre (II), a 30% interest in Creekside Crossing, a 33.3% interest in Mirabel SmartCentre (I), a 40% interest in Markham East SmartCentre, a 44.4% interest in 401 & Weston Power Centre, a 49.9% interest in Hull SmartCentre, a 60% interest in Orleans SmartCentre (II), and 50% interests in Chatham SmartCentre, Edmonton East SmartCentre, Innisfil SmartCentre, Lachenaie SmartCentre, London North SmartCentre, Markham Woodside SmartCentre, Milton Walmart Centre, Montreal (Decarie) SmartCentre, Montreal Premium Outlets, Ottawa (Laurentian Place) SmartCentre, Ottawa South SmartCentre, Richmond Hill SmartCentre, Salmon Arm SmartCentre, StudioCentre, Toronto Premium Outlets, Vaughan SmartCentre, Woodbridge SmartCentre, and Barrie Waterfront).
(1) Anchors are tenants in excess of 30,000 square feet. (2) Properties that the trust has a leasehold interest in.
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 40 CORPORATE INFORMATION
Stock Exchange Listing: The Toronto Stock Exchange (TSX)
Trading Symbols: Trust Units SRU.UN
Corporate Office: SmartCentres Real Estate Investment Trust 3200 Highway 7 Vaughan, ON L4K 5Z5
Tel: (905) 326-6400 Fax: (905) 326-0783
Senior Management: Mitchell Goldhar Executive Chairman Peter Forde President & CEO Peter Sweeney Chief Financial Officer Mauro Pambianchi Chief Development Officer Rudy Gobin EVP Portfolio Management & Investments Paula Bustard EVP Development Allan Scully EVP Development
Transfer Agent & Registrar: Computershare Share Trust Company of Canada 100 University Avenue, 9th Floor Toronto, ON M5J 2Y1
Auditors: PricewaterhouseCoopers LLP PwC Tower 18 York Street, Suite 2600 Toronto, ON M5J 0B2
Legal Counsel: Osler, Hoskin & Harcourt LLP 100 King Street West 1 First Canadian Place Suite 6200, P.O. Box 50 Toronto, ON M5X 1B8
Davies Ward Phillips & Vineberg LLP 155 Wellington Street West, 40th Floor Toronto, ON M5V 3J7
SMARTCENTRES REAL ESTATE INVESTMENT TRUST SEPTEMBER 2019 SUPPLEMENTAL INFORMATION PACKAGE 41