Together with its general partner and subsidiaries, the ‘Operator’, the Trust was created to indirectly acquire and control Scott’s Real Estate Limited Partnership.
The REIT, through the Operator, will acquire from Yum! Brands Canada Management LP and/or its affiliates, and Scott’s Restaurants Inc. and/or its affiliates, a portfolio of 190 retail properties located across Canada. KIT Limited Partnership is a tenant at all but one of the initial properties, and operates KFC restaurants on these initial properties.
The Trust was formed on August 23, 2005, and was listed on the Toronto Stock Exchange on October 5, 2005.
Scott’s Real Estate Investment Trust (Scott’s REIT) is a Canadian-based, open-ended real estate investment trust that manages a portfolio of approximately 196 retail properties located in seven provinces across Canada. It was created to indirectly acquire and control Scott’s Real Estate Limited Partnership, a real estate operator. The trust has its head office in Toronto, Ontario.
Scott’s REIT’s portfolio is geographically diverse and its properties are leased long-term to Canada’s largest independent owner and operator of quick service restaurants by number of units. The properties are 100 per-cent leased, offer rent-escalated clauses and feature quadruple-net leases, meaning that the tenant pays for all taxes, utilities, maintenance and repairs, and insurance premiums.
Scott’s REIT’s plans to achieve its growth objectives by acquiring additional quick service restaurant and small-box retail properties in attractive Canadian and U.S. markets. The trust aims to become the premier small-box retail property owner in Canada.
The Scott’s REIT shares are traded on the Toronto Stock Exchange (TSE) under the symbol
Group or Branch:
SCOTT’S TRUSTEE CORP
P.O. BOX 222 M5J 2S1, TORONTO, ON, CANADA