Primaris Real Estate Investment Trust is a Canada-based closed-end real estate investment trust that specializes in the ownership and management of large-format shopping centres. The trust’s principal activities include the acquisition, leasing, and property management of high-quality retail assets. Primaris’s portfolio has historically been anchored by grocery stores, department stores, and national fashion retailers, aiming to deliver stable, income-generating properties to its unitholders.
As of its last public disclosures, Primaris held a diversified portfolio of shopping centres across major urban and regional markets in Canada, including Ontario, Alberta, British Columbia, and Quebec. The trust focused on properties featuring strong catchment demographics and limited competition, as well as centres with redevelopment potential to enhance value through targeted capital investments. Property management services included leasing negotiation, facilities maintenance, and marketing initiatives designed to maximize foot traffic and tenant retention.
Founded in 2013 through the conversion of a predecessor income fund, Primaris pursued a growth strategy centered on accretive acquisitions and selective redevelopment. In June 2021, Primaris completed a plan of arrangement under which it was acquired by H&R Real Estate Investment Trust, further consolidating its assets within one of Canada’s largest diversified REITs. Prior to the acquisition, Primaris’s management team drew on decades of industry experience in retail real estate, emphasizing disciplined underwriting and proactive asset management to drive long-term stability for investors.
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