Privately owned since 1992

Investing with Trinity

Trinity invests in retail shopping centres across Canada, both directly and alongside institutional and private capital partners. Its own teams lease and manage those centres. The company has been privately owned since 1992.

Investment approach

Trinity invests in, leases and manages its centres directly, applying consistent leasing and operational standards across all properties held on behalf of its partners. Its fully integrated, in-house team oversees the entire investment lifecycle, including acquisitions, financing, leasing, asset management and property management.

Property type

Necessity-based retail

Trinity invests in retail shopping centres whose tenants serve the everyday needs of the surrounding community, in growing locations with strong demographics. The centres are concentrated in major Canadian markets, principally the Greater Toronto, Ottawa, Calgary and Montréal regions, and are leased predominantly to national and regional retailers.

Value creation

Leasing and property management

Value is created through active management of each centre. Trinity’s leasing, property management and asset management teams are responsible for the tenant mix, the growth of rental income, the renewal and extension of leases, the leasing of vacant space and the condition of each property.

Capital

Ownership and financing

Trinity holds its centres directly, through its funds and with joint-venture partners, and invests its own capital alongside its partners. Financing, acquisitions and dispositions are overseen by the Investments and Finance teams.

Funds

Trinity owns centres directly and through its retail funds. Participation is limited to institutions and accredited investors under the applicable offering documents.

Trinity Shenkman Retail Fund I Limited Partnership

(“TS Retail Fund”)

Strategy
Necessity-based retail centres across key markets in Canada.
Target income return
8.0%
Target internal rate of return
12.0%
Term
Five years, with two one-year extension options
Fund size
$42 million
Inception
2023
Status
Closed – fully invested

Target returns are objectives only and are not guaranteed.

Trinity Retail Fund II Limited Partnership

(“TRF II”)

Strategy
Necessity-based retail centres across key markets in Canada.
Target income return
8.0%
Target internal rate of return
12.0%
Term
Five years, with two one-year extension options
Fund size
$67 million
Inception
2024
Status
Closed – fully invested

Target returns are objectives only and are not guaranteed.

Trinity Retail Fund III Limited Partnership

(“TRF III”)

Strategy
Necessity-based retail centres across key markets in Canada.
Target income return
8.0%
Target internal rate of return
12.0%
Term
Five years, with two one-year extension options
Fund size
$70 million
Inception
2026
Status
Closed

Target returns are objectives only and are not guaranteed.

Track record

Trinity launched its first retail fund in 2023. The figures below cover Trinity Shenkman Retail Fund I, Trinity Retail Fund II and Trinity Retail Fund III.

First fund launched
2023
Retail funds
3
Combined fund size, equity committed
$179 Million
Fund portfolio occupancy, year-end 2025
99.0%
Centres acquired by the funds, year-end 2025
10
Value of fund acquisitions since 2023
$450 Million

Occupancy as of December 31, 2025.

Investor inquiries

Inquiries from institutional and private investors may be directed to Trinity’s investor relations contact or to its Chief Financial Officer.

Camille Singh

Manager, Investor Relations

Adam Cohen

Partner, Chief Financial Officer, CPA, CA

Telephone
416-255-8800

Important information

The information on this page is provided for information purposes only. It does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, including units of any fund described on this page. Any such offer is made only by way of the applicable offering documents, to eligible investors, in accordance with applicable securities laws. Target returns are objectives only, are not guaranteed and do not represent actual results.