On November 12, 2025, SmartCentres Real Estate Investment Trust (SmartCentres) closed its previously announced private placement of $250-million aggregate principal amount of 3.599 percent Series AC senior unsecured debentures (the Series AC debentures) and $250-million aggregate principal amount of 4.318 percent Series AD senior unsecured debentures (the Series AD debentures). The Series AC debentures will mature on June 12, 2029, and the Series AD debentures will mature on June 12, 2032. The debentures were offered on an agency basis by a syndicate of agents led by Scotiabank, CIBC Capital Markets, Desjardins Securities, RBC Capital Markets and TD Securities as joint bookrunners, and National Bank Financial, Mizuho Securities, BMO Capital Markets and Beacon Securities as co-managers. 

SmartCentres is one of Canada’s largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 197 strategically located properties in communities across the country. SmartCentres has approximately $12 billion in assets consisting of income producing value-oriented retail, purpose-built rental, first-class office and self-storage properties. 

Osler, Hoskin & Harcourt LLP advised SmartCentres with a team consisting of James Brown, Tina Mirzaei and Kiana Blake (Corporate).