Parkit Enterprise
Parkit Enterprise is a publicly listed real estate company that acquires, grows, and manages a portfolio of 19 industrial properties across key Canadian markets, while also holding US parking assets and a ~10% stake in PROREIT.
- Company typePublic
- Founded2008
- HeadquartersVancouver, Canada
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Parkit Enterprise does
Parkit Enterprise Inc. is a publicly listed (TSX-V: PKT; OTCQX: PKTEF) real estate company that acquires, grows, and manages a portfolio of industrial properties across key Canadian urban markets, complemented by parking facilities in the United States. Founded in 2008 and headquartered in Toronto, Ontario, the company pivoted from a parking-focused model to an industrial real estate platform beginning in 2020-2021, completing a continuance from British Columbia to Ontario in August 2021. As of FY2025, the core portfolio consists of 19 industrial assets totaling approximately 1.4 million square feet on 95 acres across Ontario, Quebec, Alberta, and Manitoba, with named tenants including Walmart Canada and Arkive Records Management. The company also holds an indirect 24.39% interest in OP Holdings JV, LLC (parking assets) and approximately 10.4% of PROREIT (PRO Real Estate Investment Trust), through a combination of trust units and Class B LP units.
Parkit's revenue model is built on three streams: (1) rental income from long-term leases on industrial properties, (2) investment income from its ~10% PROREIT stake yielding approximately 6.9%, and (3) gains from periodic asset sales and repositioning, notably the 2025 sale of seven Winnipeg assets to PROREIT for $101.9 million (realizing a $25.2 million gain). Parkit also participates in development through the 760 Second Street Partnership joint venture (50% Parkit, 25% Decade Capital, 25% Southside Group) for a 543-unit residential rental project in London, Ontario. FY2025 revenue from investment properties was $28.3 million, with FFO of $8.7 million (+29% YoY) and net income of $25.5 million. The company has no proprietary technology platform; its go-to-market is direct property leasing and opportunistic acquisitions funded through equity raises (approximately $125M raised in 2021 alone) and mortgage financing.
Parkit Enterprise firmographics
Firmographics- Name
- Parkit Enterprise
- Legal name
- Parkit Enterprise Inc.
- Website
- https://parkitenterprise.com
- Company type
- Public
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Parkit Enterprise is a publicly listed real estate company that acquires, grows, and manages a portfolio of 19 industrial properties across key Canadian markets, while also holding US parking assets and a ~10% stake in PROREIT.
- Ownership category
- akta.pro rank
Parkit Enterprise industry classification
Industry- Product category
- Industrial Real Estate
- NAICS
- Other Financial Vehicles (52599), Management of Companies and Enterprises (55111)
- SIC
- Investors, Nec (6799)
- akta.pro primary industry
- Industrial Park Owners Association Management (BPAJAHAH)
- akta.pro secondary industry
- Parking Facilities Property Management (BPAJAGAN)
Keywords
Where Parkit Enterprise is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Parkit Enterprise business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Marketing or Sales
Revenue model
- Rental Income: Parkit generates rental income from its portfolio of industrial properties across Canada. Revenue is derived from long-term leases with industrial tenants at market rates.
- Investment Income from PROREIT: Parkit earns investment income from its approximately 10% ownership stake in PROREIT (PRO Real Estate Investment Trust), which generates approximately 6.9% yield on the investment.
- Asset Sales: Parkit generates gains from the sale of investment properties, including the sale of 7 Winnipeg assets for $101.9 million resulting in a $25.2 million gain in fiscal 2025.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Parkit Enterprise product offering
Product offeringCore offering
Parkit Enterprise Inc. is a publicly listed real estate company that acquires, grows, and manages a portfolio of income-producing industrial properties across key urban markets in Canada, complemented by parking facilities across the United States. The company currently holds 19 industrial assets totaling approximately 1.4 million square feet on 95 acres, generating rental income from enterprise tenants and investment income from a ~10% ownership stake in PROREIT.
Product overview
Parkit Enterprise is an industrial real estate platform focused on acquiring, growing, and managing a portfolio of industrial properties across key urban markets in Canada, complemented by parking assets across the United States. The company operates a core portfolio of 19 industrial assets totaling approximately 1.4 million square feet on 95 acres. The product portfolio includes: (1) Industrial Properties Portfolio for acquisition and asset management of strategically located industrial properties in Canada, (2) Parking Assets across US markets, (3) the 760 Second Street Partnership joint venture for residential development of 543 units in London, Ontario, and (4) a strategic ~10% investment in PROREIT. The company generates revenue through net rental income from industrial properties and investment income from its PROREIT stake.
Differentiator
Problem solved
Functional benefit
Products and services
- Industrial Properties Portfolio Acquisition, growth, and asset management of 19 strategically located industrial properties across key Canadian markets including Toronto, Ottawa, Edmonton, Quebec, and Winnipeg, totaling approximately 1.4 million square feet on 95 acres. Leased to enterprise tenants for warehousing, distribution, manufacturing, and storage operations.
- Parking Assets Parking facilities across various markets in the United States, including airport parking and hospital parking facilities, complementing the Canadian industrial real estate portfolio.
- 720 Second St Development (760 Second Street Partnership) Joint venture residential development project through the 760 Second Street Partnership, developing two 15-story purpose-built rental buildings with 543 residential units in London, Ontario. Parkit contributed land and holds a 50% interest.
- Industrial Property Leasing Long-term leasing of industrial properties to enterprise tenants at market rates. Tenants include Walmart Canada at 5610 Finch Ave East, Toronto and Arkive Records Management at 1650 Comstock Road, Ottawa (140,000 sq ft).
Quantifiable outcome
- 8% same property NOI growth in fiscal 2025
- +4 more outcomes
Companies that use Parkit Enterprise
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
Parkit Enterprise technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Parkit Enterprise partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- National Bank Financial Inc.minorNational Bank Financial Inc. has been selected as Parkit's agent for its Normal Course Issuer Bid (NCIB) program, facilitating the purchase of up to 11,501,900 common shares for cancellation.
- PROREIT (PRO Real Estate Investment Trust)coreParkit owns approximately 10% of PROREIT through a combination of Trust Units and Class B LP Units, representing a meaningful strategic investment. The investment generates approximately 6.9% yield. Parkit has sold multiple properties to PROREIT, including 7 Winnipeg assets for $101.9 million and a property at 555 Camiel Sys, Winnipeg for $5.35 million (with partial proceeds received in PROREIT trust units). Steven Scott, Parkit's Chair, is a trustee on PROREIT's board.
- Decade Capital CorporationcoreDecade Capital is a Toronto- and London-based real estate investment and development firm. They hold a 25% share in the 760 Second Street Partnership (joint venture) for the development of 720 Second St, London, Ontario. The joint venture is developing two 15-story purpose-built rental buildings with 543 residential units.
- Southside GroupcoreSouthside Group is a diversified real estate development, construction, and property management company based in London, Ontario, established in 1979. They hold a 25% share in the 760 Second Street Partnership for the residential redevelopment project at 720 Second St, London, Ontario.
- OP Holdings JV, LLCminorParkit holds an indirect 24.39% equity interest in OP Holdings JV, LLC, which previously owned parking facilities including Expresso Airport Parking (Oakland, CA), Terra Park (Jacksonville, FL), and Riccio Lot Hospital Parking (New Haven, CT). The joint venture has completed multiple asset sales and distributions.
Scale indicators9 records
Recent moves11 records
Expansion highlights5 records
Parkit Enterprise competitors and assessment
Company assessmentDirect peers
- PROREIT (PRO Real Estate Investment Trust): Direct Canadian industrial REIT peer. Parkit owns approximately 10.4% of PROREIT through Trust Units and Class B LP Units. PROREIT directly competes with Parkit in Canadian industrial real estate and is also a strategic partner/customer (acquired 7 Winnipeg assets from Parkit for $101.9M).
- Dream Industrial REIT: One of the largest Canadian industrial REITs with a portfolio of high-quality industrial properties across Canada and Europe. Direct competitor to Parkit in the Canadian industrial real estate market with similar geographic focus but materially larger scale (30M+ sq ft).
- LAZ Parking: One of the largest parking facility operators in North America, managing thousands of parking facilities across the US. Comparable to Parkit's legacy parking assets business (held through OP Holdings JV, LLC), though as a much larger private operator rather than an asset owner.
- WPT Industrial REIT: Industrial REIT focused on distribution and warehouse properties in the US (and some Canada). Acquired by Blackstone in 2023 but represents a comparable industrial REIT business model focused on acquiring, owning, and managing institutional-quality industrial properties.
- Summit Industrial Income REIT: Was a Canadian-focused industrial REIT that directly competed with Parkit in key urban markets including Toronto, Montreal, Calgary, and Edmonton. Acquired by GIC in 2023 but historically a close comparable in scale and strategy to Parkit's industrial platform.
Emerging players
- Firm Capital Property Trust: Small-cap Canadian REIT focused on acquiring and managing commercial real estate assets. Comparable to Parkit as a smaller, growth-oriented Canadian public REIT with a similar profile of acquiring and managing real estate assets for income and capital appreciation.
Broad incumbents
- BTB REIT: Canadian REIT focused on commercial properties primarily in Quebec and secondary markets. While primarily office/retail, comparable as a publicly-traded Canadian REIT platform that acquires, owns, and manages real estate assets for income generation.
- SP+ Corporation (now Metropolis): Major North American parking facility operator acquired by Metropolis in 2024. Comparable to Parkit's parking asset segment through OP Holdings JV (which held Expresso Airport Parking, Terra Park, Riccio Lot, and Fly Away Airport Parking assets across US markets).
- Morguard REIT: Diversified Canadian REIT with multi-sector real estate holdings including industrial, office, retail, and residential. Comparable as a Canadian REIT platform that invests in industrial assets among other property types, though materially larger and more diversified than Parkit.
- Artis REIT: Diversified Canadian REIT with industrial, office, and retail properties across Canada and the US. Comparable as a publicly-traded Canadian REIT platform with industrial exposure, though more diversified than Parkit's pure industrial focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Parkit Enterprise social profiles
Digital presenceParkit Enterprise financial estimates
Financial estimateRevenue estimate
Valuation estimate
Parkit Enterprise leadership team
Management profileNumber of profiles
Profiles8 records
Parkit Enterprise subsidiaries and ownership
Company hierarchySubsidiaries3 records
Parkit Enterprise funding detail
Funding detailFunding overview
Funding rounds5 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Parkit Enterprise M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Parkit Enterprise
What does Parkit Enterprise do?
Parkit Enterprise Inc. is a publicly listed real estate company that acquires, grows, and manages a portfolio of income-producing industrial properties across key urban markets in Canada, complemented by parking facilities across the United States. The company currently holds 19 industrial assets totaling approximately 1.4 million square feet on 95 acres, generating rental income from enterprise tenants and investment income from a ~10% ownership stake in PROREIT.
Is Parkit Enterprise a public or private company?
Parkit Enterprise is a public company. It is classified as public and is currently operating.
When was Parkit Enterprise founded?
Parkit Enterprise was founded in 2008. It employs 1 to 10 people.
Where is Parkit Enterprise based?
Parkit Enterprise is headquartered in Vancouver, Canada, in the North America region.
How does Parkit Enterprise make money?
Three revenue lines are on record. Rental Income is the primary driver. The others are investment Income from PROREIT and asset Sales.
Who are Parkit Enterprise's main competitors?
Direct peers on record are PROREIT (PRO Real Estate Investment Trust), Dream Industrial REIT, LAZ Parking, WPT Industrial REIT and Summit Industrial Income REIT. Firm Capital Property Trust is listed as an emerging player. Broad incumbents are BTB REIT, SP+ Corporation (now Metropolis), Morguard REIT and Artis REIT.
Does Parkit Enterprise have an API?
No public API is recorded for Parkit Enterprise.
What industry is Parkit Enterprise in?
Parkit Enterprise's product category is Industrial Real Estate. Its primary akta.pro industry code is BPAJAHAH, Industrial Park Owners Association Management, with a secondary code of BPAJAGAN, Parking Facilities Property Management. Its NAICS code is 52599 and its SIC code is 6799.