Background on SmartREIT
SmartREIT is an unincorporated open-ended mutual fund trust governed by the laws of the Province of Alberta.
SmartREIT aims to be the landlord of choice for retailers. By selecting convenient locations close to consumers and leasing to strong tenants in well designed centres, SmartREIT will maximize returns to Unitholders, and retailers will prosper.
SmartREIT's objectives are to provide Unitholders with stable and growing tax-deferred cash distributions through the acquisition, development and operation of a portfolio of well located, primarily large format unenclosed retail centres and to enhance the value of SmartREIT's assets and unit value through effective management, leasing and redevelopment of its assets, and also, through effective control of long-term cost of capital and operating costs.
The focus is on value-oriented retailers and includes the strongest national and regional names, as well as strong neighbourhood merchants. Wal-Mart will continue to be the dominant anchor tenant in the portfolio, and we expect their presence will continue to attract other retailers and consumers. SmartREIT's vision is to provide a value-oriented shopping experience to Canadian consumers.