Investments in Unconsolidated Real Estate Ventures (Tables)

6 Months Ended

Jun. 30, 2025

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	Date Real Estate Venture Became Operational	Equity Ownership %	June 30, 2025		December 31, 2024
Toronto (1)	Toronto, Ontario	April 2021	June 2025	50%	$	4,210,112	$	3,708,283
Toronto II (1)	Toronto, Ontario	December 2021	April 2025	50%		5,648,097		5,413,629
Dorval (1)	Dorval, Quebec	February 2023	June 2025	50%		3,278,227		2,569,669
Hamilton (1)	Hamilton, Ontario	November 2023	October 2024	50%		2,452,140		2,459,972
Montreal	Montreal, Quebec	January 2024	Under development	50%		5,602,717		4,055,582
					$	21,191,293	$	18,207,135

(1)As of June 30, 2025, these four JV Properties were encumbered by first mortgages pursuant to the SmartCentres Financing (defined below).