Cominar Real Estate Investment Trust

Cominar Real Estate Investment Trust

Cominar Real Estate Investment Trust

Overview
Date Founded

1998

Headquarters

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

Type of Company

Public

Employees (Worldwide)

746

Industries

Real Estate
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 Vice President & Chief Financial Officer

Vice President, Retail & General Manager-Quebec Region

Executive Vice President-Acquisitions

Executive Vice President, Leasing-Office & Industrial

Executive Vice President, Operations & Property Management, Canada

Executive Vice President, Development

Executive Vice President, Retail & Development

Vice President, Operations-Shopping Centres

Board of Directors

Founder at Fondation Formons Une Famille

Head of Quebec Operations at BMO Capital Markets - Canada

Executive Director, Capital Markets at Cominar Real Estate Investment Trust

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Owners & Shareholders
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QV performs thorough analysis of equities and bonds combined with disciplined portfolio construction and asset allocation. For their fixed income, they build bond portfolios focused on high quality government bonds, corporate debentures, convertible bonds, and preferred shares. For equities, the firm buys a portfolio of sustainable and enduring businesses run by capable, committed and candid people. QV tests companies for possible portfolio inclusion based on criteria that evaluates the following: the quality and commitment of management; historical financial record; company's competitive position and business outlook; strength of the company's balance sheet; valuation of the company relative to expected returns; cash flow and dividend record of the company; and enhancement to the portfolio's quality, value and growth characteristics.

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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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Vertex One Asset Management provides a complete approach to investment management that embraces value, growth and event-driven opportunities in equity and fixed-income. The firm offers a bilateral approach to investing. They seek to achieve superior long term performance through investments by identifying catalysts that will create value for shareholders. The firm looks for companies that have low price-to-value metrics, have put themselves up for sale, or where a misvaluation has occurred within the capital structure of the company. Vertex One buys stocks that are trading at values below two-thirds the price-to-value metrics of their competitors. Firms with low debt, annuity stream-like revenues and high dividends are also favored. The firm strives to reduce risk in their portfolios but not necessarily volatility. This philosophy for value is pervasive in the firm and extends throughout the portfolios whether it is a bond which their assessment suggests is undervalued or an arbitrage situation (such as a merger) where the risk-return trade-off is in their favor. The firm utilizes equities, fixed-income securities, covered call and put writing, and arbitrage to offer portfolios not only diversified by holdings, but also by strategy.

Recent Transactions
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Cominar Real Estate Investment Trust issued CAD Units

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Cominar Real Estate Investment Trust issued 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 Units

Underwriter

Advised onCominar Real Estate Investment Trust issued Units

Professional

Advised onCominar Real Estate Investment Trust issued Units

Manager

Advised onCominar Real Estate Investment Trust issued Units

Head, Real Estate Group

Advised onCominar Real Estate Investment Trust issued 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

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).

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.

Colliers International Group, Inc. engages in the provision of commercial real estate services to corporate and institutional clients. The firm primarily offers outsourcing and advisory services, lease brokerage, and sales brokerage. It operates through the following geographical segments: Americas, EMEA, Asia Pacific, and Corporate. The Corporate segment includes the costs of global administrative functions and corporate head office. The company was founded on July 31, 1988 and is headquartered in Toronto, Canada.

Key Stats and Financials As of 2018
Market Capitalization
$2.59B
Total Enterprise Value
$5.66B
Earnings Per Share
$-1.17
Revenue
$735M
Net Profit
$-212M
EBITDA
$329M
EBITDAMargin
44.84%
Total Debt
$3.62B
Total Equity
$2.82B
Enterprise Value Sales
7.7x
Enterprise Value EBITDAOperating
17.17x
TEVNet Income
-26.65x
Debt TEV
0.64x
Three Year Compounded Annual Growth Rate Of Revenue
-6.17%
Five Year Compounded Annual Growth Rate Of Revenue
2.1%
Suppliers
EML Payments Ltd. Consumer Finance | Brisbane, QL

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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