SmartCentres Announces Disposition of Non-Core Asset in Maple Ridge B.C.

TORONTO, Dec. 13, 2021 (GLOBE NEWSWIRE) — SmartCentres Real Estate Investment Trust (“SmartCentres” or the “REIT”) (TSX:SRU.UN), announces the disposition of its non-core enclosed mall property, ‘Haney Place Mall’, in Maple Ridge, British Columbia. The property was sold at a sub 5% capitalization rate, representing a premium in excess of 30% over IFRS value. The proceeds from this all-cash transaction will be used to reduce debt and strengthen the balance sheet, as well as free up human capital to further facilitate the REIT’s transformation program.  Read More