Investments in Unconsolidated Real Estate Ventures (Tables)

3 Months Ended

Mar. 31, 2026

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 %	March 31, 2026		December 31, 2025
Toronto (1)	Toronto, Ontario	April 2021	June 2025	50%	$	3,893,731	$	4,160,699
Toronto II (1)	Toronto, Ontario	December 2021	April 2025	50%		4,944,313		5,254,183
Dorval (1)	Dorval, Quebec	February 2023	June 2025	50%		2,824,755		3,106,052
Hamilton (1)	Hamilton, Ontario	November 2023	October 2024	50%		1,953,437		2,131,495
Montreal (1)	Montreal, Quebec	January 2024	Under development	50%		3,936,168		9,860,516
					$	17,552,404	$	24,512,945

(1)As of March 31, 2026, these five JV Properties were encumbered by first mortgages pursuant to the SmartCentres Financing (defined below).