Optimism in Commercial Real Estate: A New Era for Malls with Alex Avery, CEO of Primaris REIT

Welcome to the CRE podcast. 100% Canadian, 100% commercial real estate.In this episode of the Commercial Real Estate Podcast, hosts Aaron and Adam connect with Alex Avery, CEO of Primaris REIT.Join them as they explore the evolving landscape of retail real estate. They discuss the shifting sentiment in the REIT sector, driven by changing interest rates and investor optimism. Alex shares his journey to Primaris, the recent spin-out from H&R REIT, and insights into transforming malls as consumer habits change. They examine strategies for revitalizing retail spaces, handling anchor store vacancies, and attracting high-yield tenants, offering listeners an in-depth look at the future of mall spaces and retail-focused REITs.Here are the key talking points from the episode:

• Market Sentiment and Interest Rates
• Alex’s Career Journey
• The Spin-Out of Primaris REIT
• Current State of the Mall Sector
• Acquisition Strategy and Market Dynamics
• Competitive Advantage in Retail
• Evolution of Mall Spaces and Anchor Stores
• Strategies for Repurposing Vacant Spaces

More about our guest…Alex brings more than 20 years of real estate and capital markets experience, including serving on the board of trustees of H&R REIT from 2017 through 2021 and as Executive Vice President of Asset Management & Strategic Initiatives at H&R REIT from 2020 through the spin-off of Primaris REIT in 2021 where he also served on the board of trustees until 2023.  Previous roles include portfolio management of real estate securities with FrontFour Capital, over 12 years as a sell-side equity analyst at CIBC Capital Markets, and transaction and advisory roles with Altus Group.

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