Primaris is the Canadian retail division of H&R REIT, one of country's largest diversified real estate investment trust with an enterprise value of around or more than $14 billion. Primaris owns and manages 17 regional enclosed shopping centres and 14 retail properties across Canada encompassing approximately 10 million sq. ft. Primaris, previously known as Borealis Retail REIT, was established in 2003 as a publicly traded company by a major Canadian pension fund which managed the portfolio until 2010 after which time Primaris internalized management. In 2013, H&R REIT acquired the Primaris operating platform and 25 of the properties owned and managed by Primaris.
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