TORONTO,– SmartCentres Real Estate Investment Trust (“SmartCentres”) (TSX:SRU.UN) announced today that it has redeemed $150 million aggregate principal amount of 3.749% Series L senior unsecured debentures due February 11, 2021 (the “Series L Debentures”), constituting all of the Series L Debentures outstanding immediately prior to such redemption, in accordance with their terms as previously announced. The Series L Debentures were redeemed at a total redemption price of $1,026.90 plus accrued and unpaid interest of $13.763452, both per $1,000 principal amount, for a total aggregate redemption price of $156,099,517.80.
SmartCentres is one of Canada’s largest real estate investment trusts with total assets of approximately $9.6 billion. It owns and manages 34 million square feet of retail space in value-oriented, principally Walmart-anchored retail centres, having the strongest national and regional retailers as well as strong neighbourhood merchants. In addition, SmartCentres is a joint-venture partner in the Premium Outlets locations in Toronto and Montreal with Simon Property Group.
SmartCentres continues to expand the breadth of its portfolio to include residential (single-family, condominium and rental), retirement homes, office, and self-storage, either on its large urban properties such as SmartCentres Place at the Vaughan Metropolitan Centre or as an adjunct to its well-located existing shopping centres. For more information on SmartCentres, visit www.smartcentres.com.