Parkit Enterprise

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.

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

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

• Industrial real estate
• Parking facilities
• Property investment
• Asset management
• Industrial leasing

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. 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.
2. 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.
3. 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

Core 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

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered minor and core.

• National Bank Financial Inc.minorOthers · 23 March 2026National 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)coreStrategic or Co-development Partner · 18 December 2025Parkit 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 CorporationcoreStrategic or Co-development Partner · 24 November 2025Decade 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 GroupcoreStrategic or Co-development Partner · 24 November 2025Southside 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, LLCminorStrategic or Co-development Partner · 1 January 2015Parkit 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

Direct 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

• Xx.com/Parkit_PKT
• LinkedInlinkedin.com/company/parkit-enterprise-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries3 records

Funding overview

Funding rounds5 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Parkit Enterprise