Primaris REIT Hires New CIO to Oversee Portfolio Expansion
Event summary
- Primaris REIT appointed Julian Schonfeldt as Chief Investment Officer, effective April 1, 2026.
- Schonfeldt previously served as CIO at Canadian Apartment Properties REIT, overseeing $6B in transactions.
- New role focuses on acquisitions, dispositions, and optimizing value from excess lands post-Hudson’s Bay departure.
- Primaris manages a portfolio of 15.2M sq ft across 14 enclosed shopping centres valued at ~$5.2B.
The big picture
Primaris’ appointment of a dedicated CIO underscores its aggressive expansion strategy in Canada’s retail real estate sector. The move comes as the REIT seeks to capitalize on post-pandemic shifts in shopping center demand and unlock value from underutilized assets. With $5.2B in managed properties, Primaris is positioning itself for further consolidation in a fragmented market.
What we're watching
- Execution Risk
- How Schonfeldt’s track record in capital allocation will translate to Primaris’ retail-focused portfolio.
- Portfolio Optimization
- The pace at which excess lands are monetized following Hudson’s Bay’s exit.
- Strategic Alignment
- Whether Primaris can sustain disciplined capital deployment amid evolving retail real estate dynamics.
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