Cominar Real Estate Investment Trust

Cominar Real Estate Investment Trust

Cominar Real Estate Investment Trust

Overview
Date Founded

1965

Headquarters

Complexe Jules-Dallaire,T3, 2820 Laurier Boulevard,Suite 850,Québec, QC G1V 0C1

Type of Company

Public

Employees (Worldwide)

535

Industries

Real Estate
Retail: Other
Real Estate Investment Trusts

Company Description

Cominar Real Estate Investment Trust is one of the largest diversified real estate investment trusts in Canada and the largest commercial property owner and manager in the province of Quebec. Our real estate portfolio includes 501 office, retail, and industrial properties in the provinces of Quebec and Ontario, in the Atlantic Provinces and in Western Canada and represents more than $5.8 billion in assets. Cominar’s main goals are to provide unitholders with growing cash distributions, sustainable on the long-term and payable monthly, and to increase and maximize unit value through integrated management and the sustainable growth of its real estate portfolio.

Contact Data
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Executives & Employees

President & Chief Executive Officer

Executive Director, Capital Markets

Executive Director, Leasing-Office & Industrial-Quebec Area

Executive Director, Portfolio & Asset Management

Vice President, Retail & General Manager-Quebec Area

Vice President & General Manager, Construction

Executive Vice President-Acquisitions

Executive Vice President, Leasing-Office & Industrial

Executive Vice President-Operations & Property Management

Executive Vice President, Development

Board of Trustees

Founder at Fondation Formons Une Famille

President & Chief Executive Officer at Cominar Real Estate Investment Trust

Head of Quebec Operations at BMO Capital Markets Corp. (Canada)

Former Chairman & Chief Executive Officer at Aon Parizeau, Inc.

Chief Executive Officer & Director at Sundial Growers, Inc.

Chairman & Chief Executive Officer at Lucia SA

Former Chief Financial Officer-Retail & Executive Vice President at Ivanhoé Cambridge, Inc.

President, Chief Executive Officer & Secretary at Urbanfund Corp.

Former Director-Investments at Société Générale de Financement du Québec

Portfolio Manager, Private Wealth Management at Jarislowsky, Fraser Ltd.

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Owners & Shareholders
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Lincluden Investment Management (LIM) employs traditional, value-based investment principles across a range of equity, fixed-income and balanced portfolios. The firm offers a clearly defined investment philosophy and approach to portfolio construction in the following areas: equities, fixed-income, balanced and value.For their equity investments, LIM screens a broad universe of Canadian, US and international stocks in the search for undervalued securities. Investment decisions are based on a thorough financial assessment of corporations and their management teams to identify securities that are trading at a substantial discount to LIM's appraisal of their fair value. Their focus on cash flow in determining a company's valuation is based on the belief that free cash flow is the best currency to enable a company to grow.LIM's fixed-income portfolios are structured to achieve the most efficient combination of duration, credit, yield curve and foreign exposure from a long-term, risk-reward perspective. The firm's investment process begins with an economic overview, which allows them to develop a view on inflation. Based on their view of value and risk, they then determine the appropriate portfolio duration which reflects their long-term view of inflationary trends relative to the current level of interest rates and shape of the yield curve. LIM believes that real interest rates should be calculated using long-term inflationary expectations instead of the current rate of inflation. In searching for the best value opportunities in fixed-income markets, the firm considers both domestic and foreign securities. When they find better value opportunities in foreign markets, their preference is to eliminate foreign exchange risk through the use of hedging.The firm's balanced approach seeks to create long-term wealth with a value-based, risk-managed approach that is based on disciplined asset allocation and security selection. LIM's valuation and portfolio structuring process incorporates a 'top-down' approach to determine asset mix, and a 'bottom-up' process to individual security selection.

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Leon Frazer & Associates' investment process starts with the development of their high-level economic view, which is based on both domestic and global conditions. From this, the firm focuses on long-term investment themes which they use to determine investment weightings in the key sectors of the economy. These views will also determine cash weightings. The Leon Frazer portfolio invests in companies that make up the “backbone” of the economy. Depending on economic conditions at least 40%-60% of the portfolio is generally invested in pipelines, utilities, telecoms, and financial services.

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Lincluden Investment Management (LIM) employs traditional, value-based investment principles across a range of equity, fixed-income and balanced portfolios. The firm offers a clearly defined investment philosophy and approach to portfolio construction in the following areas: equities, fixed-income, balanced and value.For their equity investments, LIM screens a broad universe of Canadian, US and international stocks in the search for undervalued securities. Investment decisions are based on a thorough financial assessment of corporations and their management teams to identify securities that are trading at a substantial discount to LIM's appraisal of their fair value. Their focus on cash flow in determining a company's valuation is based on the belief that free cash flow is the best currency to enable a company to grow.LIM's fixed-income portfolios are structured to achieve the most efficient combination of duration, credit, yield curve and foreign exposure from a long-term, risk-reward perspective. The firm's investment process begins with an economic overview, which allows them to develop a view on inflation. Based on their view of value and risk, they then determine the appropriate portfolio duration which reflects their long-term view of inflationary trends relative to the current level of interest rates and shape of the yield curve. LIM believes that real interest rates should be calculated using long-term inflationary expectations instead of the current rate of inflation. In searching for the best value opportunities in fixed-income markets, the firm considers both domestic and foreign securities. When they find better value opportunities in foreign markets, their preference is to eliminate foreign exchange risk through the use of hedging.The firm's balanced approach seeks to create long-term wealth with a value-based, risk-managed approach that is based on disciplined asset allocation and security selection. LIM's valuation and portfolio structuring process incorporates a 'top-down' approach to determine asset mix, and a 'bottom-up' process to individual security selection.

Recent Transactions
Details Hidden

Cominar Real Estate Investment Trust issued CAD Units

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Cominar Real Estate Investment Trust issued CAD Units

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Cominar Real Estate Investment Trust purchases Ivanhoe Cambridge /Shopping & Office Portfolio (15) from Caisse de Dépôt et Placement du Québec

Transaction Advisors
Investment Advisor

Advised onCominar Real Estate Investment Trust purchases CANMARC Real Estate Investment Trust

Underwriter

Advised onCominar Real Estate Investment Trust issued CAD Units

Underwriter

Advised onCominar Real Estate Investment Trust issued CAD Units

Professional

Advised onCominar Real Estate Investment Trust issued CAD Units

Manager

Advised onCominar Real Estate Investment Trust issued CAD Units

Head, Real Estate Group

Advised onCominar Real Estate Investment Trust issued CAD Units

Advisors & Consultants
Legal Advisor

Partner at Davies Ward Phillips & Vineberg LLP

Legal Advisor

Partner at Davies Ward Phillips & Vineberg LLP

Legal Advisor

Partner at Davies Ward Phillips & Vineberg LLP

Clients

Loblaw Companies Limited (Loblaw) is Canada's largest food retailer and a leading provider of drugstore, general merchandise and financial products and services. Through our portfolio of store formats, we are committed to providing Canadians with a wide, growing and successful range of products and services to meet their everyday household demands. We are known for the quality, innovation and value of our food offering. We offer Canada's strongest control label program, including the unique President's Choice, no name and Joe Fresh brands. In addition, we provide customers with President's Choice Financial services and offer the PC points loyalty program. With more than 1,000 corporate and franchised stores from coast to coast, Loblaw and its franchisees employ more than 134,000 full-time and part-time employees. This makes us one of Canada’s largest private-sector employers. We are committed to being socially responsible by respecting the environment, sourcing with integrity, making a positive difference in our community, reflecting our nation’s diversity and being a great place to work.

The TJX Companies, Inc., the leading off-price apparel and home fashions retailer in the U.S. and worldwide, is ranked 85 among Fortune 500 companies. They operate T.J. Maxx and Marshalls (combined, Marmaxx), HomeGoods, Sierra, and Homesense, as well as tjmaxx.com and sierra.com, in the U.S.; Winners, HomeSense, and Marshalls (combined, TJX Canada) in Canada; and T.K. Maxx in the United Kingdom, Ireland, Germany, Poland, Austria, the Netherlands, and Australia, as well as Homesense in the U.K. and Ireland and tkmaxx.com in the U.K. (combined, TJX International).

Cineplex Inc. (“Cineplex”) is one of Canada’s leading entertainment companies and operates one of the most modern and fully digitized motion picture theatre circuits in the world. A top-tier Canadian brand, Cineplex operates numerous businesses including theatrical exhibition, food services, gaming, alternative programming (Front Row Centre Events), Cineplex Media, Cineplex Digital Solutions and the online sale of home entertainment content through CineplexStore.com and on apps embedded in various electronic devices. Cineplex is also a joint venture partner in SCENE – Canada’s largest entertainment loyalty program. Cineplex is headquartered in Toronto, Canada, and operates 134 theatres with 1,449 screens from British Columbia to Quebec, serving approximately 70 million guests annually through the following theatre brands: Cineplex Odeon, Galaxy, Famous Players, Colossus, Coliseum, SilverCity, Cinema City and Scotiabank Theatres. Cineplex also owns and operates the UltraAVX, Poptopia, and Outtakes brands. Cineplex trades on the Toronto Stock Exchange under the symbol "CGX". More information is available at cineplex.com.

Key Stats and Financials As of 2020
Market Capitalization
$1.42B
Total Enterprise Value
$3.86B
Earnings Per Share
$-1.39
Enterprise Value / Sales
7.58x
TEVNet Income
-15.22x
Debt TEV
0.71x
EBITDAMargin
47.1%
Enterprise Value EBITDAOperating
16.09x
Three Year Compounded Annual Growth Rate Of Revenue
-7.5%
Revenue
$510M
Net Profit
$-254M
Total Equity
$2.1B
Total Debt
$2.73B
EBITDA
$240M
Suppliers
EML Payments Ltd. Consumer Finance | Brisbane, Australia

EML Payments Ltd. engages in the provision of payment solutions and financial services. Its operations include funds disbursement, social and welfare payments, loyalty and rewards programs, loan disbursements, corporate expenses, procurement, and salary packaging. The company was founded in 2001 and is headquartered in Brisbane, Australia.

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