True North Commercial REIT engages in the investment and ownership of commercial properties in urban cities across Canada. It is an unincorporated open-ended REIT focusing on office properties with strong tenant profiles and long term lease maturities. Government tenants (37%) and credit-rated enterprises (42%) are True North’s primary tenants.
TD Insurance, British Columbia, General Dynamics, Ontario Power are a few of its leading tenants. The REIT should benefit from the relationship with its asset manager, Starlight Investments’ extensive resources, economies of scale, and industry relationships.
Its portfolio comprises of 46 properties with a weighted average lease term of 4.1 years. Ontario is its largest operating market accounting for 59% of the total portfolio, followed by Alberta, British Columbia, Nova Scotia, and New Brunswick. True North Commercial REIT has registered a growth of 88% CAGR in its portfolio since 2012.