CT Real Estate Investment Trust (CRT) 2017年年度报告「TSX」.pdf

1、2017 Annual ReportCT REIT 2017 ANNUAL REPORT 1Managements Discussion and AnalysisCT REIT Fourth Quarter and Full Year 2017TABLE OF CONTENTSForward-looking Disclaimer31.0Preface41.1Basis of Presentation41.2Definitions41.3Accounting Estimates and Assumptions41.4Quarterly and Annual Comparisons in this

2、 MD&A41.5Key Operating Performance Measures and Additional Non-GAAP Measures41.6Review and Approval by the Board of Trustees51.7Nature and Formation52.0Growth Strategy and Objectives53.0Summary of Selected Financial and Operational Information64.0Overview of the Property Portfolio74.1Property Profil

3、e74.2Six Largest Urban Markets94.3Revenue by Region94.4Fair Value of Property Portfolio104.52017 Investment Activities 114.6Development Activities 134.7Investment and Development Funding144.8Lease Maturities154.9Top 10 Tenants Excluding CTC Banners164.10Leasing Activities164.11Recoverable Capital Co

4、sts 165.0Results of Operations175.1Financial Results for the Three Months and Year Ended December 31,2017175.2Non-GAAP Measures206.0Liquidity and Financial Condition226.1Liquidity226.2Discussion of Cash Flows236.3Credit Ratings236.4Debt and Capital Structure236.5Interest Coverage Ratio 262 CT REIT 2

5、017 ANNUAL REPORT TABLE OF CONTENTS(continued)6.6Indebtedness Ratio266.7Class C LP Units276.8Debentures 286.9Mortgages Payable286.10Credit Facilities286.11Capital Strategy296.12Commitments and Contingencies306.13Base Shelf Prospectus307.0Equity307.1Authorized Capital and Outstanding Units307.2Equity

6、 317.3Distributions327.4Book Value per Unit338.0Related Party Transactions339.0Accounting Policies and Estimates359.1Significant Areas of Estimation359.2Standards,Amendments and Interpretations Issued and Adopted359.3Standards,Amendments and Interpretations Issued but Not Yet Adopted3510.0Non-GAAP M