Strong FFO Growth
Primaris reported almost 6% growth in FFO per unit, indicating robust financial performance driven by the recovery in the Canadian mall sector.
Significant Leasing Progress
Substantial leasing progress was made with the signing of leases for almost 0.5 million square feet of space, including the entire former Sears premises at Lime Ridge Mall.
Strategic Acquisitions
Primaris acquired four top-tier malls in 2025, totaling $1.6 billion, aimed at increasing portfolio quality and achieving above-sector average NOI growth.
Distribution Increase
The company announced a 2.3% increase in distributions, marking the fifth consecutive annual increase, with expectations of being added to the Dividend Aristocrats Index.
Positive Sales Growth
Tenant sales within properties showed positive growth, with total sales productivity growing to $800 per square foot from $715 per square foot a year earlier.