RE:REITGoogle Canadian Tire REIT and you will get a better picture of the concept...for example, this from 2013:
Canadian Tire Corp., the country’s largest sporting goods retailer, will create a C$3.5 billion ($3.5 billion) real estate investment trust in an initial public offering this year. The shares surged the most on record.
The REIT will acquire most of the company’s owned real estate, which includes about 250 properties comprised of mainly Canadian Tire retail stores and a distribution center, Toronto-based Canadian Tire said today in a statement. The properties would represent about 18 million square feet.
Canadian Tire plans to keep 80 percent to 90 percent of the REIT, which will have a minimal effect on the company’s earnings, the company said.
Shares rose 11 percent to C$82.36 at 4:14 p.m. trading in Toronto, the most since Nov. 13, 2008.