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)

750

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

Chief Financial Officer & Executive Vice President

Chief Operating Officer & Executive Vice President

Trustee, President & Chief Executive Officer, Aon Parizeau Inc

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 Strategy & Operations

Vice President-Communications & Marketing

Board of Directors

Chairman & Chief Executive Officer at Lucia SA

Secretary at Corp. Financiere Alpha, Inc.

Founder at Fondation Formons Une Famille

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Owners & Shareholders
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QV Investors (QVI) manages several pooled investment funds with varying objectives in order to meet clients' varying needs. The QV Funds are the models for the firm's bond, balanced and equity strategies.The Canadian Income Fund seeks to provide investors steady income, earned in Canadian dollars, with low risk to principal. The Fund invests in Canadian high or investment grade bonds and debentures, and to a lesser extent in corporate preferred and common shares. The bonds mature within 5 years. The benchmark is the FTSE TMX Short Term Bond Index.The Canadian Bond Fund seeks to provide investors with interest income and moderate capital appreciation over the long-term. The fund invests in investment grade Canadian fixed income securities, and does not hold preferred shares or equities. It may also invest in longer-term bonds and hold a larger exposure to corporate bonds and non-rated bonds. The benchmark is the FTSE TMX Canada Universe Bond Index.The Canadian Balanced Fund seeks to equal or exceed the average annual return on equity of Canadian companies. Canadian companies. The asset mix methodology is to weight by yield the asset class having the greatest surety. Equities are selected to reduce valuation, growth, credit, liquidity, and industry risks. Bonds are selected for their high quality and ability to offset the volatility found in equities.The QV Canadian Equity Fund invests in larger companies, typically with market-cap over $1 billion and listed on the TSX. The Fund seeks to exceed the average annual return on equity of Canadian companies, and to exceed the return on the S&P/TSX Composite Index and do so with lower volatility. QVI constructs the Fund to exhibit measurably better value, growth, dividend, and credit characteristics than the benchmark while maintaining broad industry diversification.The Canadian Small Cap Equity Fund invests in Canadian small and mid-cap companies, with market-cap above $100 million and up to two times the upper end of the BMO Small Cap Index. The Fund seeks to exceed the average annual return on equity of Canadian companies, to exceed the return on the BMO Small Cap Index, and do so with lower volatility.The Global Equity Fund invests in companies listed outside of Canada on the world's senior markets. It seeks to outperform the MSCI World Index with lower volatility. The Fund focuses on companies with market-cap, greater than $5 billion. The portfolio offers broad equity, industry and regional diversification.

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ATB Investment Management (ATBIM) manages the Compass Portfolio Series, a comprehensive series of strategic asset allocation models designed to meet investors' unique investment objectives and risk tolerances. A mix of asset classes within pre-determined ranges are maintained through regular rebalancing which serves to preserve the performance characteristics of the portfolio and meet investors' objectives within their time horizons and risk tolerances. The portfolio invests in multiple asset classes including stocks, bonds, near cash or money market instruments such as Treasury Bills, and in alternative investments including income trusts. The Compass Portfolio Series invests the majority of their assets in a mix of mutual funds, institutional pooled funds, ETFs and other pooled investment vehicles managed respected third-party investment management firms. The underlying investments of each portfolio are selected to achieve and add value to the asset allocation of the portfolio as a whole. Portfolios are further diversified by geography, management style, market sector, market-cap and investment manager. ATBIM seeks to provide superior risk-adjusted rates of return by minimizing volatility and maximizing long-term performance results.

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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

Details Hidden

Cominar Real Estate Investment Trust issued Units

Details Hidden

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

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 Cos., Inc. engages in the retail of off-price apparel and home fashion products. It operates through the following segments: Marmaxx, HomeGoods, TJX Canada, and TJX Europe. The Marmaxx segment sells family apparel including footwear and accessories; and home fashions including home basics, accent furniture, lamps, rugs, wall décor, decorative accessories, giftware, and other merchandise. The HomeGoods segment offers home basics, giftware, accent furniture, lamps, rugs, wall décor, and decorative accessories. The TJX Canada segment operates the Winners, Marshalls, and HomeSense chains in Canada. The TJX Europe segment operates T.K. Maxx and HomeSense chains in Europe. The company was founded by Stanley Harris Feldberg and Sumner L. Feldberg in 1956 and is headquartered in Framingham, MA.

Canadian National Railway Co. is engages in rail and related transportation business. The company's services include integrated transportation services: rail, intermodal, trucking, and supply chain services It offers movement of a diversified and balanced portfolio of goods including petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal and automotive. Canadian National Railway was founded on June 6, 1919 and is headquartered in Montreal, Canada.

Key Stats and Financials As of 2018
Market Capitalization
$2.15B
Total Enterprise Value
$5.66B
Earnings Per Share
$-1.17
Revenue
$735M
Enterprise Value Sales
7.7x
TEVNet Income
-26.65x
Debt TEV
0.64x
Total Debt
$3.62B
Total Equity
$2.82B
Net Profit
$-212M
EBITDAMargin
44.84%
Enterprise Value EBITDAOperating
17.17x
EBITDA
$329M
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 | Newstead, 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 on May 16, 2003 and is headquartered in Newstead, Australia.

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