NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

TORONTO, March 08, 2019 (GLOBE NEWSWIRE) -- SmartCentres Real Estate Investment Trust (“SmartCentres”) (TSX:SRU.UN) announced today that it has redeemed $150 million aggregate principal amount of 4.05% Series H senior unsecured debentures due July 27, 2020 (the “Series H Debentures”), constituting all of the Series H Debentures outstanding immediately prior to such redemption, in accordance with their terms as previously announced. The Series H Debentures were redeemed at a total redemption price of $1,021.87 plus accrued and unpaid interest of $4.438356, both per $1,000 principal amount, for a total aggregate redemption price of $153,946,253.40.

About SmartCentres

SmartCentres is one of Canada’s largest real estate investment trusts with total assets of approximately $9.5 billion. It owns and manages 34 million square feet of retail space in value-oriented, principally Walmart-anchored retail centres, having the strongest national and regional retailers as well as strong neighbourhood merchants. In addition, SmartCentres is a joint-venture partner in the Premium Outlets locations in Toronto and Montreal with Simon Property Group.

SmartCentres continues to expand the breadth of its portfolio to include residential (single-family, condominium and rental), retirement homes, office, and self-storage, either on its large urban properties such as SmartCentres Place at the Vaughan Metropolitan Centre or as an adjunct to its well-located existing shopping centres. For more information on SmartCentres, visit www.smartcentres.com.

For more information, please contact:

Peter Sweeney
Chief Financial Officer
SmartCentres
(905) 326-6400 ext. 7865
psweeney@smartcentres.com