Investments in Unconsolidated Real Estate Ventures (Tables)

9 Months Ended

Sep. 30, 2024

Equity Method Investments and Joint Ventures [Abstract]

Summary of Investments in Unconsolidated Real Estate Ventures

The Company's investments in unconsolidated real estate ventures are summarized as follows:

					Carrying Value of Investment
	Location	Date Real Estate Venture Acquired Land	Real Estate Venture Status	Equity Ownership %	September 30, 2024		December 31, 2023
Toronto (1)	Toronto, Ontario	April 2021	Under development	50%	$	3,879,397	$	4,446,804
Toronto II (1)	Toronto, Ontario	December 2021	Under development	50%		5,663,421		7,232,806
Dorval (1)	Dorval, Quebec	February 2023	Under development	50%		2,488,433		2,722,149
Hamilton (1)	Hamilton, Ontario	November 2023	Under development (2)	50%		2,225,571		3,124,954
Montreal	Montreal, Quebec	January 2024	Under development	50%		3,819,804		—
					$	18,076,626	$	17,526,713

(1)As of September 30, 2024, these properties were encumbered by first mortgages pursuant to the SmartCentres Financing (defined below).

(2)On October 24, 2024, we commenced operations on the Hamilton JV property.