Primaris REIT owns and manages 35 retail properties aggregating approximately 11.4 million square feet, at Primaris REIT’s ownership share, including 22 enclosed shopping centres totaling approximately 9.8 million square feet and 13 unenclosed shopping centre and mixed-use properties aggregating approximately 1.6 million square feet. Primaris REIT will be one of the largest owners and managers of enclosed shopping centres in Canada, and one of the largest owners and operators of retail property of all formats across Canada.
Primaris, initially known as Borealis Retail REIT, was formed in 2003 as a publicly traded company by a major Canadian pension fund which managed the portfolio until the end of 2009, after which time Primaris internalized management. In 2013, H&R REIT acquired the Primaris operating platform and 25 of the properties owned and managed by Primaris. On December 31st, 2021, H&R REIT executed a plan of arrangement to spin off Primaris and together with Healthcare of Ontario Pension Plan (HOOPP), created Primaris REIT.
Primaris’ regional shopping centres are strategically located in major urban markets and major secondary cities. Our retail partners benefit from operating in shopping centres which are dominant within their trade area and are the core of their communities. Since 2003, Primaris has built a team of seasoned professionals situated in key markets across Canada who specialize in the management and leasing of regional enclosed shopping centres. Primaris takes great pride in our assets and our people.
As one of the largest owner-operators of enclosed shopping malls and retail properties across Canada, Primaris has an established reputation as a true retail partner. At Primaris, values matter. Founded on the integrity of a handshake, this standard still exists as a symbol of the strong, lasting relationships that make us leaders in the retail real estate industry. Bound by a common purpose and a passion for success, we infuse our core values into everything we do. Our convictions are the inspiration behind how we do business, treat one another, and support the communities in which we operate. We proudly embrace our role in helping shape the fabric in our cities and neighborhoods with a focus on environmental stewardship and social leadership. Our properties reflect the value we put on placemaking and creating engaging gathering places that bring and keep people together and connected.