Supplementary information package

Transcription

1 Dundee Industrial Real Estate Investment Trust Supplementary information package As at June 30,

2 T r u s t D a t a The REIT Dundee Industrial REIT ( Dundee Industrial ) is an unincorporated open-ended real estate investment trust governed by the laws of Ontario. Dundee Industrial is a mutual fund trust as defined in the Income Tax Act (Canada), but is not a mutual fund within the meaning of applicable Canadian securities legislation. We own and manage a portfolio of high quality light industrial properties located in key industrial markets across Canada. On June 30, 2013, our portfolio consisted of 206 properties totalling approximately 15.7 million square feet of gross leasable area located across Canada. Our portfolio is well diversified by geographic location and building type. Dundee Industrial was formed on October 4, 2012, completing its Initial Public Offering ( IPO ) and acquiring the industrial real estate portfolio of Dundee Real Estate Investment Trust ( Dundee REIT ). Dundee REIT has been listed on the TSX since June 30, REIT Objectives managing our business to provide growing cash flow and stable and sustainable returns through adapting our strategy and tactics to changes in the real estate industry and the economy; building and maintaining a diversified, growth-oriented portfolio of light industrial properties in major Canadian markets, based on an established platform; providing predictable and sustainable cash distributions to unitholders and prudently managing distributions over time; and maintaining a REIT that satisfies the REIT exception under the SIFT legislation in order to provide certainty to unitholders with respect to taxation of distributions. Distributions Dundee Industrial REIT pays a monthly distribution to unitholders at a percentage of distributable income as the trustees, in their sole discretion, determine would be in the best interest of the Trust to distribute. The distribution is paid to unitholders of record at month-end on or about the fifteenth day of the following month. We also have a Distribution Reinvestment and Unit Purchase Plan ( DRIP ). For more information, please visit our web site.

3 Capitalization (in thousands of dollars, as at June 30, 2013) Asset value of investment properties: $ 1,532,034 Debt: $ 845,652 Unitholders Equity: $ 703,732 Head Office Dundee Industrial Real Estate Investment Trust 30 Adelaide Street East, Suite 1600 Toronto, Ontario, Canada M5C 3H1 Telephone: (416) Fax: (416) Rental Property Portfolio As at June 30, 2013: 206 properties 15,659,340 square feet Regional Asset Distribution (by square footage, as at June 30, 2013) Western Canada 27.4% Central Canada 54.6% Eastern Canada 18.0% Average Occupancy Average occupancy was 95.8% as at June 30, Our occupancy rates include lease commitments for space that is currently being readied for occupancy but for which rent is not yet being recognized. Trust Information and Stock Exchange Listings Dundee Industrial began trading on the Toronto Stock Exchange ( TSX ) on October 4, As at June 30, 2013, Dundee Industrial had 54,289,786 REIT Units and 16,282,096 LP Class B Units outstanding. Listing Symbols: TSX REIT Units: DIR.UN 5.25% Convertible Debenture: DIR.DB 6.75% Convertible Debenture: DIN.DB Core Rental Property Markets Calgary, Alberta Edmonton, Alberta Regina, Saskatchewan Greater Toronto Area, Ontario Ottawa, Ontario Montréal, Quebec Moncton, New Brunswick Dartmouth, Nova Scotia

4 Transfer Agent Computershare Trust Company of Canada 100 University Avenue, 9 th Floor Toronto, Ontario, Canada M5H 2Y1 Board of Trustees Ms. Joanne Ferstman, Chairman Mr. Michael Cooper Mr. Peter Crossgrove Mr. Robert Goodall Mr. Johann Koss Mr. Ben Mulroney Mr. Leerom Segal Ms. Vincenza Sera Executive Officers Michael J. Cooper Chairman of the Executive Committee Randy Cameron President and Chief Executive Officer (Interim) John Todd Chief Financial Officer Investor Relations Dundee Industrial Real Estate Investment Trust 30 Adelaide Street East, Suite 1600 Toronto, Ontario, Canada M5C 3H1 Telephone: (416) Fax: (416) info@dundeeindustrial.com John Todd Chief Financial Officer Telephone: (416) Fax: (416) jtodd@dundeeindustrial.com Carol Webb Vice President, Communications Telephone: (416) Fax: (416) cwebb@dundeerealty.com Web Site

5 Table 1: Industrial Revenue Properties June 30, 2013 of Total Total GLA GLA Region Ownership in Square Feet in Square Feet Western Canada 1 Single Tenant 96.6% 388, ,683 Multi Tenant 100.0% 3,913,494 3,913, % 4,302,367 4,289,177 Central Canada 2 Single Tenant 100.0% 4,835,404 4,835,404 Multi Tenant 100.0% 3,722,872 3,722, % 8,558,276 8,558,276 Eastern Canada 3 Single Tenant 100.0% 245, ,637 Multi Tenant 100.0% 2,566,250 2,566, % 2,811,887 2,811,887 Building Type Single Tenant 99.8% 5,469,914 5,456,724 Multi Tenant 100.0% 10,202,616 10,202,616 Total 99.9% 15,672,530 15,659,340 Revenue Properties by Region Revenue Properties by Building Type Central Canada 55% Eastern Canada 18% Multi Tenant 65% Western Canada 27% Single Tenant 35% 1 Includes British Columbia, Alberta and Saskatchewan 2 Includes Ontario and Quebec 3 Includes New Brunswick and Nova Scotia

6 Table 2: Industrial Revenue Properties June 30, 2013 of Property Ownership Total GLA Total GLA Clear Ceiling Height Year (Warehouse Total Site Year Built Renovated Component) Area in Feet Acres in Square Feet in Square Feet in in Acres Owned Share of Site Area Description of Asset th Avenue (Park 19), Edmonton 100% 48,365 48, storey single-tenant light manufacturing th Street SE, Calgary 100% 44,491 44, storey single-tenant warehouse & distribution 2721 Hopewell Place NE, Calgary 100% 37,690 37, storey single-tenant flex industrial Township Road 531A (Parkland County), Edmonton 100% 34,904 34, storey single-tenant warehouse & distribution th Street SE (Glenmore Business Park), Calgary 100% 31,467 31, storey single-tenant light manufacturing st Avenue, Edmonton 100% 30,353 30, storey single-tenant warehouse & distribution 2876 Sunridge Way NE (Sunridge Business Park), Calgary 100% 30,000 30, storey single-tenant flex industrial 3250 Sunridge Way NE (Sunridge Business Park), Calgary 100% 27,180 27, storey single-tenant flex industrial th Street, Grand Prairie 100% 27,058 27, storey single-tenant warehouse & distribution th Street SE (Glenmore Business Park), Calgary 100% 19,274 19, storey single-tenant warehouse & distribution th Avenue, Fort St. John 100% 17,405 17, storey single-tenant warehouse & distribution 120 Pond Street East, Brooks 100% 14,305 14, storey single-tenant warehouse & distribution 2240 Premier Way (GE Turbine), Edmonton 50% 26,381 13, storey single-tenant light manufacturing Western Canada Single Tenant 96.6% 388, , Henderson Drive, Regina 100% 373, , storey multi-tenant warehouse & distribution th Avenue, Edmonton 100% 178, , storey multi-tenant warehouse & distribution st Avenue SE & th Street SE (Glenmore Business Park), Calgary 100% 164, , storey multi-tenant flex industrial Henderson Drive (Chestemere), Regina 100% 163, , storey multi-tenant warehouse & distribution th Street SE, Calgary 100% 138, , storey multi-tenant light manufacturing rd Street (Alberta Park), Edmonton 100% 130, , storey multi-tenant warehouse & distribution th Avenue NW, Edmonton 100% 111, , storey multi-tenant flex industrial 603 Park Street, Regina 100% 109, , storey multi-tenant warehouse & distribution st Avenue, Calgary 100% 99,978 99, storey multi-tenant warehouse & distribution th Street SE, Calgary 100% 94,029 94, storey multi-tenant warehouse & distribution 651 Henderson Drive (Henderson Business Centre), Regina 100% 90,167 90, storey multi-tenant flex industrial th Street SE (Glenmore Business Park), Calgary 100% 85,906 85, storey multi-tenant light manufacturing th Street SE (Glenmore Business Park), Calgary 100% 79,204 79, storey multi-tenant flex industrial th Avenue (Southwood Centre), Edmonton 100% 75,172 75, storey multi-tenant warehouse & distribution th Street NE (McCall Industrial Park), Calgary 100% 72,866 72, storey multi-tenant warehouse & distribution rd Avenue NE (Sunridge Business Park), Calgary 100% 67,250 67, storey multi-tenant flex industrial th Street NE (ACC Centre), Calgary 100% 65,009 65, storey multi-tenant flex industrial th Street SE (Glenmore Business Park), Calgary 100% 64,330 64, storey multi-tenant warehouse & distribution th Street, Calgary 100% 64,000 64, storey multi-tenant flex industrial th Street NE (Sunridge Business Park), Calgary 100% 59,865 59, storey multi-tenant flex industrial th Street SE (Glenmore Business Park), Calgary 100% 58,638 58, storey multi-tenant flex industrial th Street NE (Sunridge Business Park), Calgary 100% 58,184 58, storey multi-tenant flex industrial th Street NE (Sunridge Business Park), Calgary 100% 58,015 58, storey multi-tenant flex industrial th Avenue NE, Calgary 100% 57,396 57, storey multi-tenant warehouse & distribution st Avenue SE (Glenmore Business Park), Calgary 100% 57,368 57, storey multi-tenant flex industrial nd Street NE (Sunridge Business Park), Calgary 100% 57,198 57, storey multi-tenant flex industrial th Avenue SE, Calgary 100% 57,122 57, storey multi-tenant warehouse & distribution th Street NE, Calgary 100% 57,044 57, storey multi-tenant warehouse & distribution 2928 Sunridge Way NE (Sunridge Business Park), Calgary 100% 57,001 57, storey multi-tenant flex industrial th Street North West, Edmonton 100% 57,000 57, storey multi-tenant flex industrial th Street SE (Glenmore Business Park), Calgary 100% 56,723 56, storey multi-tenant warehouse & distribution th Street NE (Sunridge Business Park), Calgary 100% 56,648 56, storey multi-tenant flex industrial 402 McDonald Street (Imperial Business Centre), Regina 100% 55,296 55, storey multi-tenant flex industrial th Street NE, Calgary 100% 54,006 54, storey multi-tenant warehouse & distribution rd Avenue NE (Sunridge Business Park), Calgary 100% 53,265 53, storey multi-tenant flex industrial th Street SE (Glenmore Business Park), Calgary 100% 52,409 52, storey multi-tenant flex industrial 2886 Sunridge Way NE (Sunridge Business Park), Calgary 100% 44,450 44, storey multi-tenant flex industrial th Avenue SE (Glenmore Business Park), Calgary 100% 44,280 44, storey multi-tenant warehouse & distribution th Street, Edmonton 100% 42,670 42, storey multi-tenant warehouse & distribution th Avenue SE, Calgary 100% 41,444 41, storey multi-tenant warehouse & distribution 5824 Burbank Road SE, Calgary 100% 39,803 39, storey multi-tenant warehouse & distribution 310 Hoffer Drive (McDonald Business Centre), Regina 100% 37,939 37, storey multi-tenant flex industrial th Street, Calgary 100% 37,385 37, storey multi-tenant flex industrial th Street SE (Glenmore Business Park), Calgary 100% 31,593 31, storey multi-tenant light manufacturing th Street SE, Calgary 100% 29,998 29, storey multi-tenant warehouse & distribution th Street SE (Glenmore Business Park), Calgary 100% 29,002 29, storey multi-tenant warehouse & distribution Centre Street South, Calgary 100% 28,792 28, storey multi-tenant warehouse & distribution th Street NE, Calgary 100% 28,653 28, storey multi-tenant warehouse & distribution 3030 Sunridge Way NE (Sunridge Business Park), Calgary 100% 27,016 27, storey multi-tenant flex industrial Centre Street South, Calgary 100% 25,200 25, storey multi-tenant warehouse & distribution

7 of Property Ownership Total GLA Total GLA Year Built Year Renovated Clear Ceiling Height (Warehouse Component) Total Site Area Owned Share of Site Area Description of Asset in Square Feet in Square Feet in Feet in Acres in Acres A Avenue SE, Calgary 100% 23,987 23, storey multi-tenant warehouse & distribution th Street SE (Glenmore Business Park), Calgary 100% 23,266 23, storey multi-tenant light manufacturing st Avenue SE (Glenmore Business Park), Calgary 100% 21,830 21, storey multi-tenant light manufacturing th Avenue NE, Calgary 100% 21,552 21, storey multi-tenant warehouse & distribution th Street SE (Glenmore Business Park), Calgary 100% 21,189 21, storey multi-tenant warehouse & distribution th Street NE, Calgary 100% 21,124 21, storey multi-tenant warehouse & distribution st Avenue SW, Calgary 100% 18,890 18, storey multi-tenant warehouse & distribution rd Street NE, Calgary 100% 15,787 15, storey multi-tenant warehouse & distribution th Avenue SE, Calgary 100% 15,556 15, storey multi-tenant warehouse & distribution st Street SE, Calgary 100% 14,340 14, storey multi-tenant warehouse & distribution nd Avenue SE, Calgary 100% 13,343 13, storey multi-tenant warehouse & distribution st Street SE, Calgary 100% 13,200 13, storey multi-tenant warehouse & distribution st Street SE, Calgary 100% 11,400 11, storey multi-tenant warehouse & distribution Western Canada Multi Tenant 100.0% 3,913,494 3,913, Western Canada 99.7% 4,302,367 4,289, , 1421 and 1451 Rue Ampère, Boucherville 100% 457, , storey single-tenant light manufacturing Metropolitan Boulevard East, Montreal 100% 327, , storey single-tenant warehouse & distribution 275 Wellington Street East, Aurora 100% 317, , storey single-tenant light manufacturing 1900 Dickson Street (Molson Distribution Centre), Montreal 100% 225, , storey single-tenant warehouse & distribution 2350 de la Province, Longueuil 100% 222, , storey single-tenant warehouse & distribution th Avenue, Montreal 100% 210, , storey single-tenant light manufacturing 45 Progress Avenue, Toronto 100% 209, , storey single-tenant warehouse & distribution 8000 Avenue Blaise-Pascal, Montreal 100% 206, , storey single-tenant light manufacturing 1313 Autoroute Chomedey, Laval 100% 184, , storey single-tenant light manufacturing 650 rue Bergeron, Drummondville 100% 181, , storey single-tenant warehouse & distribution 750 Creditstone Road, Vaughan 100% 176, , storey single-tenant light manufacturing 121 Pippin Road, Vaughan 100% 169, , storey single-tenant light manufacturing 700 Ormont Drive, North York 100% 123, , storey single-tenant light manufacturing 1155 Autoroute Chomedey, Laval 100% 115, , storey single-tenant flex industrial 2340 St. Laurent Boulevard, Ottawa 100% 114, , storey single-tenant light manufacturing 580 Industrial Road, London 100% 113, , storey single-tenant warehouse & distribution 441 Chrislea Road, Vaughan 100% 100, , storey single-tenant warehouse & distribution 2130 South Service Road West, Oakville 100% 98,175 98, storey single-tenant warehouse & distribution 970 Fraser Drive, Burlington 100% 95,444 95, storey single-tenant flex industrial 2226 South Service Road West, Oakville 100% 79,174 79, storey single-tenant warehouse & distribution 439 Sovereign, London 100% 77,877 77, storey single-tenant flex industrial 9305 Twin Oaks Drive, Windsor 100% 74,239 74, storey single-tenant light manufacturing 2 Lone Oak Court, Toronto 100% 72,197 72, storey single-tenant light manufacturing Menway Court, Mississauga 100% 66,383 66, storey single-tenant warehouse & distribution e Avenue, Lachine 100% 60,750 60, storey single-tenant light manufacturing 41 Metropolitan Road, Toronto 100% 59,400 59, storey single-tenant flex industrial Avenue Meloche, Dorval 100% 54,410 54, storey single-tenant light manufacturing 1421 rue Nobel, Sainte-Julie 100% 50,878 50, storey single-tenant light manufacturing 3800 Trans Canada Highway, Pointe-Claire 100% 50,000 50, storey single-tenant light manufacturing 896 Meyerside Drive, Mississauga 100% 46,774 46, storey single-tenant flex industrial 880 Rangeview Road, Mississauga 100% 45,600 45, storey single-tenant light manufacturing 135 Pinebush Road, Cambridge 100% 44,470 44, storey single-tenant warehouse & distribution 1870 Boulevard Saint-Régis, Dollard-des-Ormeaux 100% 40,231 40, storey single-tenant warehouse & distribution 5905 Kennedy Road, Mississauga 100% 38,158 38, storey single-tenant flex industrial 6045 Kestrel Road, Mississauga 100% 34,789 34, storey single-tenant flex industrial 2946 Walker Road, Windsor 100% 32,264 32, storey single-tenant warehouse & distribution 781 Westgate Road, Oakville 100% 29,850 29, storey single-tenant flex industrial 6520 Gottardo Court, Mississauga 100% 25,932 25, storey single-tenant flex industrial 29 rue de Varennes, Gatineau 100% 23,959 23, storey single-tenant warehouse & distribution 750 Barmac Drive, North York 100% 23,959 23, storey single-tenant warehouse & distribution 7420 Pacific Circle, Mississauga 100% 23,777 23, storey single-tenant flex industrial 1300 Fewster Road, Mississauga 100% 23,500 23, storey single-tenant light manufacturing 5805 Kennedy Road, Mississauga 100% 21,780 21, storey single-tenant flex industrial 5380 Timberlea Boulevard, Mississauga 100% 19,988 19, storey single-tenant light manufacturing 5462 Timberlea Boulevard, Mississauga 100% 17,708 17, storey single-tenant flex industrial 5370 Timberlea Boulevard, Mississauga 100% 16,682 16, storey single-tenant warehouse & distribution 5750 Coopers Avenue, Mississauga 100% 16,366 16, storey single-tenant flex industrial 5444 Timberlea Boulevard, Mississauga 100% 15,316 15, storey single-tenant light manufacturing Central Canada Single Tenant 100% 4,835,404 4,835, Kitimat Road, Mississauga 100% 318, , storey multi-tenant flex industrial 2360 Cornwall Road, Oakville 100% 199, , storey multi-tenant warehouse & distribution 45 A & B West Wilmot Street, Richmond Hill 100% 189, , storey multi-tenant flex industrial

8 of Property Ownership Total GLA Total GLA Year Built Year Renovated Clear Ceiling Height (Warehouse Component) Total Site Area Owned Share of Site Area Description of Asset in Square Feet in Square Feet in Feet in Acres in Acres 255 Wicksteed Avenue, Toronto 100% 177, , storey multi-tenant flex industrial Winston Park Drive, Mississauga 100% 172, , storey multi-tenant flex industrial 5900 Finch Avenue East, Scarborough 100% 166, , storey multi-tenant flex industrial 90 Nolan Court, Markham 100% 124, , storey multi-tenant flex industrial 5000 rue Fairway & e Avenue, Lachine 100% 106, , storey multi-tenant warehouse & distribution e Avenue, Lachine 100% 94,569 94, storey multi-tenant light manufacturing 55 Horner Avenue, Etobicoke 100% 93,167 93, storey multi-tenant flex industrial Rue Berlier, Laval 100% 91,843 91, storey multi-tenant warehouse & distribution 4515 and 4525 Rhodes Drive (Delta Park), Windsor 100% 91,057 91, storey multi-tenant warehouse & distribution 333 Chemin du Tremblay, Boucherville 100% 86,842 86, storey multi-tenant warehouse & distribution e Avenue 100% 84,659 84, storey multi-tenant flex industrial 3 & 5 Blair Drive, Brampton 100% 82,232 82, storey multi-tenant warehouse & distribution 1500 rue Nobel, Boucherville 100% 82,081 82, storey multi-tenant flex industrial e Avenue, Lachine 100% 81,288 81, storey multi-tenant warehouse & distribution e Avenue, Lachine 100% 79,094 79, storey multi-tenant light manufacturing Autoroute 440, Laval 100% 78,622 78, storey multi-tenant flex industrial Renaude-Lapointe, Montreal 100% 77,846 77, storey multi-tenant flex industrial 1111 Tristar Drive, Mississauga 100% 77,726 77, storey multi-tenant warehouse & distribution Matheson Boulevard, Mississauga 100% 77,420 77, storey multi-tenant warehouse & distribution 2101 rue Nobel, Sainte-Julie 100% 73,411 73, storey multi-tenant flex industrial 1100 Courtney Park Drive, Mississauga 100% 72,393 72, storey multi-tenant warehouse & distribution e Avenue, Montreal 100% 71,923 71, storey multi-tenant flex industrial e Avenue, Montreal 100% 71,616 71, storey multi-tenant flex industrial 100 Lingard Road, Cambridge 100% 70,154 70, storey multi-tenant warehouse & distribution Kennedy Road, Mississauga 100% 67,836 67, storey multi-tenant flex industrial 6400 Shawson Drive, Mississauga 100% 61,817 61, storey multi-tenant warehouse & distribution 5554 Tomken Road, Mississauga 100% 61,623 61, storey multi-tenant warehouse & distribution rue Fairway & e Avenue, Lachine 100% 60,728 60, storey multi-tenant light manufacturing 1010 Rue Berlier & Boulevard Industriel, Laval 100% 58,622 58, storey multi-tenant warehouse & distribution Autoroute 440, Laval 100% 56,622 56, storey multi-tenant warehouse & distribution 845 Harrington Court, Burlington 100% 55,932 55, storey multi-tenant flex industrial Coopers Avenue, Mississauga 100% 53,668 53, storey multi-tenant flex industrial 135 Chemin du Tremblay, Boucherville 100% 49,808 49, storey multi-tenant warehouse & distribution 855 Matheson Boulevard, Mississauga 100% 46,608 46, storey multi-tenant flex industrial 5448 Timberlea Boulevard, Mississauga 100% 32,025 32, storey multi-tenant flex industrial 5430 Timberlea Boulevard, Mississauga 100% 31,448 31, storey multi-tenant flex industrial 5466 Timberlea Boulevard, Mississauga 100% 28,657 28, storey multi-tenant warehouse & distribution 135 East Beaver Creek, Richmond Hill 100% 28,506 28, storey multi-tenant flex industrial 5420 Timberlea Boulevard, Mississauga 100% 19,816 19, storey multi-tenant light manufacturing 38 rue de Valcourt, Gatineau 100% 16,456 16, storey multi-tenant warehouse & distribution Central Canada Multi Tenant 100% 3,722,872 3,722, Central Canada 100% 8,558,276 8,558, Thornhill Drive (Burnside Business Park), Dartmouth 100% 115, , storey single-tenant warehouse & distribution 58 Wright Avenue (Burnside Business Park), Dartmouth 100% 43,000 43, storey single-tenant warehouse & distribution 722 Edinburgh Drive, Moncton 100% 41,200 41, storey single-tenant light manufacturing 50 Garland Avenue (Burnside Business Park), Dartmouth 100% 35,574 35, storey single-tenant flex industrial 80 Thornhill Drive (Burnside Business Park), Dartmouth 100% 10,090 10, storey single-tenant warehouse & distribution Eastern Canada Single Tenant 100% 245, , Brownlow Avenue (Burnside Business Park), Dartmouth 100% 212, , storey multi-tenant flex industrial Wright Avenue (Burnside Business Park), Dartmouth 100% 170, , storey multi-tenant flex industrial 201 Brownlow Avenue (Burnside Business Park), Dartmouth 100% 160, , storey multi-tenant flex industrial 7 Mellor Avenue, Dartmouth 100% 123, , storey multi-tenant flex industrial 10 Morris Drive (Burnsdie Business Park), Dartmouth 100% 118, , storey multi-tenant flex industrial 71 Thornhill Drive, Dartmouth 100% 100, , storey multi-tenant warehouse & distribution Ilsley Avenue (Burnside Business Park), Dartmouth 100% 97,792 97, storey multi-tenant flex industrial 121 Ilsley Avenue, Dartmouth 100% 96,678 96, storey multi-tenant flex industrial 75 Akerley Boulevard, Dartmouth 100% 96,228 96, storey multi-tenant flex industrial 222 Edinburgh Drive, Moncton 100% 93,504 93, storey multi-tenant warehouse & distribution 11 Morris Drive (Burnside Business Park), Dartmouth 100% 89,778 89, storey multi-tenant flex industrial 120 Troop Avenue (Burnside Business Park), Dartmouth 100% 87,049 87, storey multi-tenant warehouse & distribution 100 Wright Avenue (Burnside Business Park), Dartmouth 100% 76,127 76, storey multi-tenant warehouse & distribution 100 Ilsley Avenue (Burnside Business Park), Dartmouth 100% 75,455 75, storey multi-tenant flex industrial 55 Akerley Boulevard, Dartmouth 100% 75,306 75, storey multi-tenant flex industrial 51 Raddall Avenue (Burnside Business Park), Dartmouth 100% 70,002 70, storey multi-tenant flex industrial 170 Joseph Zatzman Drive (Burnside Business Park), Dartmouth 100% 65,671 65, storey multi-tenant flex industrial 50 Akerley Boulevard (Burnside Business Park), Dartmouth 100% 62,685 62, storey multi-tenant warehouse & distribution 10 Vidito Drive, Dartmouth 100% 61,988 61, storey multi-tenant warehouse & distribution

9 of Property Ownership Total GLA Total GLA Year Built Year Renovated Clear Ceiling Height (Warehouse Component) Total Site Area Owned Share of Site Area Description of Asset in Square Feet in Square Feet in Feet in Acres in Acres 101 Thornhill Drive (Burnside Business Park), Dartmouth 100% 61,362 61, storey multi-tenant warehouse & distribution 105 Akerly Boulevard (Burnside Business Park), Dartmouth 100% 57,436 57, storey multi-tenant flex industrial Mosher Drive (Burnside Business Park), Dartmouth 100% 56,937 56, storey multi-tenant light manufacturing Mosher Drive (Burnside Business Park), Dartmouth 100% 54,367 54, storey multi-tenant warehouse & distribution 50 Troop Avenue (Burnside Business Park), Dartmouth 100% 53,859 53, storey multi-tenant flex industrial 32 Troop Avenue (Burnside Business Park), Dartmouth 100% 47,790 47, storey multi-tenant warehouse & distribution 109 Ilsley Avenue (Burnside Business Park), Dartmouth 100% 44,829 44, storey multi-tenant flex industrial 81 Wright Avenue (Burnside Business Park), Dartmouth 100% 44,131 44, storey multi-tenant flex industrial 95 Akerley Boulevard, Dartmouth 100% 38,027 38, storey multi-tenant flex industrial 30 Simmonds Drive (Burnside Business Park), Dartmouth 100% 37,576 37, storey multi-tenant flex industrial 40 Thornhill Drive (Burnside Business Park), Dartmouth 100% 32,186 32, storey multi-tenant warehouse & distribution 50 Thornhill Drive (Burnside Business Park), Dartmouth 100% 32,065 32, storey multi-tenant warehouse & distribution 60 Thornhill Drive (Burnside Business Park), Dartmouth 100% 32,002 32, storey multi-tenant flex industrial 10 Thornhill Drive, Dartmouth 100% 28,639 28, storey multi-tenant flex industrial 16 Garland Avenue (Burnside Business Park), Dartmouth 100% 10,888 10, storey multi-tenant flex industrial Eastern Canada Multi Tenant 100% 2,566,250 2,566, Eastern Canada 100% 2,811,887 2,811, Total 99.9% 15,672,530 15,659,

10 Table 3: Expiring vs Market Rents 1 ( ) June 30, Expiring Rent Owned GLA Monthly Expiring Rent Expiring Rent Expiring Rent Expiring Rent Expiring Rent Region in Square Feet Tenancies Western Canada Single Tenant 375,683 $ - $ - $ 8.54 $ $ 6.00 $ Multi Tenant 3,913,494 $ - $ $ 8.78 $ 8.05 $ 8.02 $ 9.19 Central Canada 4,289,177 $ - $ $ 8.77 $ 8.44 $ 7.95 $ 9.82 Single Tenant 4,835,404 $ 9.19 $ - $ 5.44 $ 6.04 $ 4.16 $ 6.96 Multi Tenant 3,722,872 $ 4.81 $ 6.58 $ 5.93 $ 5.80 $ 6.61 $ 6.40 Eastern Canada 8,558,276 $ 9.04 $ 6.58 $ 5.88 $ 5.89 $ 5.46 $ 6.81 Single Tenant 245,637 $ - $ - $ - $ 6.05 $ $ 5.31 Multi Tenant 2,566,250 $ 3.44 $ 6.33 $ 6.80 $ 6.75 $ 6.88 $ ,811,887 $ 3.44 $ 6.33 $ 6.80 $ 6.58 $ 7.40 $ 7.95 Total 15,659,340 $ 8.80 $ 7.85 $ 7.07 $ 6.82 $ 6.63 $ 7.72 Expiring Rent by Building Type Single Tenant 5,456,724 $ 9.19 $ - $ 6.24 $ 6.72 $ 5.07 $ 7.40 Multi Tenant 10,202,616 $ 4.04 $ 7.85 $ 7.12 $ 6.86 $ 7.20 $ 8.03 Total 15,659,340 $ 8.80 $ 7.85 $ 7.07 $ 6.82 $ 6.63 $ 7.72 Market Rent by Building Type Single Tenant 5,456,724 $ 9.19 $ - $ 6.44 $ 6.47 $ 5.94 $ 6.77 Multi Tenant 10,202,616 $ 6.49 $ 8.16 $ 7.34 $ 7.19 $ 7.34 $ Market Rent for Contracted Lease Expiries 2 15,659,340 $ 8.99 $ 8.16 $ 7.29 $ 7.00 $ 6.96 $ 7.27 $9.50 Expiring vs Market Rents $9.00 $8.50 $8.00 Actuals Market $7.50 $7.00 $6.50 Expiring Monthly Tenancies Expiring Rents reflect cash rents 2 Estimate only, subject to change with market conditions in each market segment, not inflated for future years

11 Table 4: Average In-Place Base Rents June 30, 2013 of Total GLA Average In Place Base Rent Market Rent 1 Weighted Average Remaining Lease Term Region in Square Feet in Dollars In Dollars In years Western Canada Single Tenant 375,683 $ $ Multi Tenant 3,913,494 $ 8.23 $ Central Canada 4,289,177 $ 8.52 $ Single Tenant 4,835,404 $ 6.20 $ Multi Tenant 3,722,872 $ 5.85 $ Eastern Canada 8,558,276 $ 6.05 $ Single Tenant 245,637 $ 7.15 $ Multi Tenant 2,566,250 $ 6.99 $ ,811,887 $ 7.01 $ Building Type Single Tenant 5,456,724 $ 6.60 $ Multi Tenant 10,202,616 $ 7.07 $ Total 15,659,340 $ 6.90 $ Estimate only, subject to change with market conditions in each market segment, not inflated for future years

12 Table 5: Annual Contractual Lease Rollovers ( ) June 30, 2013 of Total GLA Monthly Expiring Expiring Expiring Expiring Expiring Region in Square Feet Vacant Tenancies Western Canada Single Tenant 375, ,168 62,084 19, ,157 Multi Tenant 3,913, , , , , ,574 1,842,382 Central Canada 4,289, , , , , ,848 2,109,539 Single Tenant 4,835, ,362-78, , ,773 3,794,843 Multi Tenant 3,722, ,124 4, , , , ,161 1,345,467 Eastern Canada 8,558, , , , ,833 1,026, ,934 5,140,310 Single Tenant 245, ,773 76,774 53,090 Multi Tenant 2,566, ,136 5, , , , ,896 1,064,562 2,811, ,136 5, , , , ,670 1,117,652 Building Type Single Tenant 5,456, , , , ,821 4,115,090 Multi Tenant 10,202, ,320 9, ,801 1,746,361 1,571,701 1,492,631 4,252,411 Total 15,659, , , ,801 1,851,716 2,137,797 2,047,452 8,367, % 4.2% 0.8% 3.0% 11.8% 13.7% 13.1% 53.4% 100% Annual Contractual Lease Rollovers % 60% 53.4% 40% 20% 4.2% 0.8% 3.0% 11.8% 13.7% 13.1% 0% Vacant Monthly Tenancies Expiring 2013 Expiring 2014 Expiring 2015 Expiring Expiring

13 Table 6: Occupancy By Asset June 30, 2013 Total GLA of Total GLA No. of Average Tenant Size Weighted Average Remaining Lease Term Vacant In-Place and Committed d Property in Square Feet in Square Feet Tenants in Square Feet in years in Square Feet Occupancy Occupancy th Avenue (Park 19), Edmonton 48,365 48, , % 48, th Street SE, Calgary 44,491 44, , % 44, Hopewell Place NE, Calgary 37,690 37, , % 37, Township Road 531A (Parkland County), Edm 34,904 34, , % 34, th Street SE (Glenmore Business Park), Calgary 31,467 31, , % 31, st Avenue, Edmonton 30,353 30, , % 30, Sunridge Way NE (Sunridge Business Park), Calga 30,000 30, , % 30, Sunridge Way NE (Sunridge Business Park), Calga 27,180 27, , % 27, th Street, Grand Prairie 27,058 27, , % 27, th Street SE (Glenmore Business Park), Calgary 19,274 19, , % 19, th Avenue, Fort St. John 17,405 17, , % 17, Pond Street East, Brooks 14,305 14, , % 14, Premier Way (GE Turbine), Edmonton 26,381 13, , % 13,191 Western Canada Single Tenant 388, , , % 375, Henderson Drive, Regina 373, , , % 373, th Avenue, Edmonton 178, , , % 178, st Avenue SE & th Street SE (Glenmo 164, , , % 164, Henderson Drive (Chestemere), Regina 163, , , ,040 94% 154, th Street SE, Calgary 138, , , % 138, rd Street (Alberta Park), Edmonton 130, , , ,301 61% 78, th Avenue NW, Edmonton 111, , , % 111, Park Street, Regina 109, , , % 109, st Avenue, Calgary 99,978 99, , % 99, th Street SE, Calgary 94,029 94, , % 94, Henderson Drive (Henderson Business Centre), Reg 90,167 90, , ,990 89% 80, th Street SE (Glenmore Business Park), Calgary 85,906 85, , % 85, th Street SE (Glenmore Business Park), Calgary 79,204 79, , % 79, th Avenue (Southwood Centre), Edmonton 75,172 75, , % 75, th Street NE (McCall Industrial Park), Calg 72,866 72, , ,800 98% 71, rd Avenue NE (Sunridge Business Park), Calgary 67,250 67, , % 67, th Street NE (ACC Centre), Calgary 65,009 65, , % 65, th Street SE (Glenmore Business Park), Calgary 64,330 64, , % 64, th Street, Calgary 64,000 64, , % 64, th Street NE (Sunridge Business Park), Calgary 59,865 59, , % 59, th Street SE (Glenmore Business Park), Calgary 58,638 58, , % 57, th Street NE (Sunridge Business Park), Calgary 58,184 58, , ,035 72% 42, th Street NE (Sunridge Business Park), Calgary 58,015 58, , % 58, th Avenue NE, Calgary 57,396 57, , ,340 79% 45, st Avenue SE (Glenmore Business Park), Calgary 57,368 57, , % 57, nd Street NE (Sunridge Business Park), Calgary 57,198 57, , % 57, th Avenue SE, Calgary 57,122 57, , % 57, th Street NE, Calgary 57,044 57, , ,440 97% 55, Sunridge Way NE (Sunridge Business Park), Calga 57,001 57, , ,062 79% 44, th Street North West, Edmonton 57,000 57, , % 57, th Street SE (Glenmore Business Park), Calgary 56,723 56, , % 56, th Street NE (Sunridge Business Park), Calgary 56,648 56, , % 56, McDonald Street (Imperial Business Centre), Regina 55,296 55, , % 55, th Street NE, Calgary 54,006 54, , ,191 87% 46, rd Avenue NE (Sunridge Business Park), Calgar 53,265 53, , ,639 20% 10, th Street SE (Glenmore Business Park), Calgary 52,409 52, , % 52, Sunridge Way NE (Sunridge Business Park), Calga 44,450 44, , ,590 74% 32, th Avenue SE (Glenmore Business Park), Calgary 44,280 44, , % 44, th Street, Edmonton 42,670 42, , % 42,670

14 Total GLA of Total GLA No. of Average Tenant Size Weighted Average Remaining Lease Term Vacant In-Place and Committed d Property in Square Feet in Square Feet Tenants in Square Feet in years in Square Feet Occupancy Occupancy th Avenue SE, Calgary 41,444 41, , % 41, Burbank Road SE, Calgary 39,803 39, , % 39, Hoffer Drive (McDonald Business Centre), Regina 37,939 37, , % 37, th Street, Calgary 37,385 37, , ,200 94% 35, th Street SE (Glenmore Business Park), Calgary 31,593 31, , % 31, th Street SE, Calgary 29,998 29, , % 29, th Street SE (Glenmore Business Park), Calgary 29,002 29, , % 29, Centre Street South, Calgary 28,792 28, , % 28, th Street NE, Calgary 28,653 28, , % 28, Sunridge Way NE (Sunridge Business Park), Calga 27,016 27, , % 27, Centre Street South, Calgary 25,200 25, , % 25, A Avenue SE, Calgary 23,987 23, , ,000 62% 14, th Street SE (Glenmore Business Park), Calgary 23,266 23, , % 22, st Avenue SE (Glenmore Business Park), Calgary 21,830 21, , % 21, th Avenue NE, Calgary 21,552 21, , % 21, th Street SE (Glenmore Business Park), Calgary 21,189 21, , % 21, th Street NE, Calgary 21,124 21, , % 21, st Avenue SW, Calgary 18,890 18, , % 18, rd Street NE, Calgary 15,787 15, , % 15, th Avenue SE, Calgary 15,556 15, , % 15, st Street SE, Calgary 14,340 14, , % 14, nd Avenue SE, Calgary 13,343 13, , % 13, st Street SE, Calgary 13,200 13, , % 13, st Street SE, Calgary 11,400 11, , % 11,400 Western Canada Multi Tenant 3,913,494 3,913, , ,060 95% 3,725,434 Western Canada 4,302,367 4,289, , ,060 96% 4,101, , 1421 and 1451 Rue Ampère, Boucherville 457, , , % 457, Metropolitan Boulevard East, Montreal 327, , , % 327, Wellington Street East, Aurora 317, , , % 317, Dickson Street (Molson Distribution Centre), Montr 225, , , % 225, de la Province, Longueuil 222, , , % 222, th Avenue, Montreal 210, , , % 210, Progress Avenue, Toronto 209, , , % 209, Avenue Blaise-Pascal, Montreal 206, , , % 206, Autoroute Chomedey, Laval 184, , , % 184, rue Bergeron, Drummondville 181, , , % 181, Creditstone Road, Vaughan 176, , , % 176, Pippin Road, Vaughan 169, , , % 169, Ormont Drive, North York 123, , , % 123, Autoroute Chomedey, Laval 115, , , % 115, St. Laurent Boulevard, Ottawa 114, , , % 114, Industrial Road, London 113, , , % 113, Chrislea Road, Vaughan 100, , , % 100, South Service Road West, Oakville 98,175 98, , % 98, Fraser Drive, Burlington 95,444 95, , % 95, South Service Road West, Oakville 79,174 79, , % 79, Sovereign, London 77,877 77, , % 77, Twin Oaks Drive, Windsor 74,239 74, , % 74,239 2 Lone Oak Court, Toronto 72,197 72, , % 72, Menway Court, Mississauga 66,383 66, , % 66, e Avenue, Lachine 60,750 60, , % 60, Metropolitan Road, Toronto 59,400 59, , % 59, Avenue Meloche, Dorval 54,410 54, , % 54, rue Nobel, Sainte-Julie 50,878 50, , % 50, Trans Canada Highway, Pointe-Claire 50,000 50, , % 50, Meyerside Drive, Mississauga 46,774 46, , % 46, Rangeview Road, Mississauga 45,600 45, , % 45, Pinebush Road, Cambridge 44,470 44, , % 44,470

15 Total GLA of Total GLA No. of Average Tenant Size Weighted Average Remaining Lease Term Vacant In-Place and Committed d Property in Square Feet in Square Feet Tenants in Square Feet in years in Square Feet Occupancy Occupancy 1870 Boulevard Saint-Régis, Dollard-des-Ormeaux 40,231 40, , % 40, Kennedy Road, Mississauga 38,158 38, , % 38, Kestrel Road, Mississauga 34,789 34, , % 34, Walker Road, Windsor 32,264 32, , % 32, Westgate Road, Oakville 29,850 29, , % 29, Gottardo Court, Mississauga 25,932 25, , % 25, rue de Varennes, Gatineau 23,959 23, , % 23, Barmac Drive, North York 23,959 23, , % 23, Pacific Circle, Mississauga 23,777 23, , % 23, Fewster Road, Mississauga 23,500 23, , % 23, Kennedy Road, Mississauga 21,780 21, , % 21, Timberlea Boulevard, Mississauga 19,988 19, , % 19, Timberlea Boulevard, Mississauga 17,708 17, , % 17, Timberlea Boulevard, Mississauga 16,682 16, , % 16, Coopers Avenue, Mississauga 16,366 16, , % 16, Timberlea Boulevard, Mississauga 15,316 15, , % 15,316 Central Canada Single Tenant 4,835,404 4,835, , % 4,835, Kitimat Road, Mississauga 318, , , % 318, Cornwall Road, Oakville 199, , , ,799 79% 156, A & B West Wilmot Street, Richmond Hill 189, , , % 188, Wicksteed Avenue, Toronto 177, , , ,539 78% 139, Winston Park Drive, Mississauga 172, , , ,745 87% 149, Finch Avenue East, Scarborough 166, , , % 166, Nolan Court, Markham 124, , , ,171 99% 123, rue Fairway & e Avenue, Lachine 106, , , ,084 70% 74, e Avenue, Lachine 94,569 94, , % 94, Horner Avenue, Etobicoke 93,167 93, , ,569 96% 89, Rue Berlier, Laval 91,843 91, , ,447 95% 87, and 4525 Rhodes Drive (Delta Park), Windsor 91,057 91, , ,363 94% 85, Chemin du Tremblay, Boucherville 86,842 86, , ,936 70% 60, e Avenue 84,659 84, , % 84,659 3 & 5 Blair Drive, Brampton 82,232 82, , % 82, rue Nobel, Boucherville 82,081 82, , ,825 90% 74, e Avenue, Lachine 81,288 81, , % 81, e Avenue, Lachine 79,094 79, , ,401 75% 59, Autoroute 440, Laval 78,622 78, , ,402 60% 47, Renaude-Lapointe, Montreal 77,846 77, , % 77, Tristar Drive, Mississauga 77,726 77, , % 77, Matheson Boulevard, Mississauga 77,420 77, , % 77, rue Nobel, Sainte-Julie 73,411 73, , % 73, Courtney Park Drive, Mississauga 72,393 72, , % 72, e Avenue, Montreal 71,923 71, , ,796 93% 67, e Avenue, Montreal 71,616 71, , ,492 84% 60, Lingard Road, Cambridge 70,154 70, , % 70, Kennedy Road, Mississauga 67,836 67, , ,802 77% 52, Shawson Drive, Mississauga 61,817 61, , % 61, Tomken Road, Mississauga 61,623 61, , % 61, rue Fairway & e Avenue, Lac 60,728 60, , ,250 91% 55, Rue Berlier & Boulevard Industriel, La 58,622 58, , % 58, Autoroute 440, Laval 56,622 56, , % 55, Harrington Court, Burlington 55,932 55, , ,066 82% 45, Coopers Avenue, Mississauga 53,668 53, , ,850 78% 41, Chemin du Tremblay, Boucherville 49,808 49, , % 49, Matheson Boulevard, Mississauga 46,608 46, , % 46, Timberlea Boulevard, Mississauga 32,025 32, , % 32, Timberlea Boulevard, Mississauga 31,448 31, , % 31, Timberlea Boulevard, Mississauga 28,657 28, , ,747 31% 8, East Beaver Creek, Richmond Hill 28,506 28, , % 28,506

16 Total GLA of Total GLA No. of Average Tenant Size Weighted Average Remaining Lease Term Vacant In-Place and Committed d Property in Square Feet in Square Feet Tenants in Square Feet in years in Square Feet Occupancy Occupancy 5420 Timberlea Boulevard, Mississauga 19,816 19, , % 19, rue de Valcourt, Gatineau 16,456 16, , ,624 90% 14,832 Central Canada Multi Tenant 3,722,872 3,722, , ,124 91% 3,405,748 Central Canada 8,558,276 8,558, , ,124 96% 8,241, Thornhill Drive (Burnside Business Park), Dartmouth 115, , , % 115, Wright Avenue (Burnside Business Park), Dartmouth 43,000 43, , % 43, Edinburgh Drive, Moncton 41,200 41, , % 41, Garland Avenue (Burnside Business Park), Dartmou 35,574 35, , % 35, Thornhill Drive (Burnside Business Park), Dartmouth 10,090 10, , % 10,090 Eastern Canada Single Tenant 245, , , % 245, Brownlow Avenue (Burnside Business Park), Dartm 212, , , ,126 91% 193, Wright Avenue (Burnside Business Park), Dartm 170, , , % 170, Brownlow Avenue (Burnside Business Park), Dartm 160, , , ,704 88% 140,427 7 Mellor Avenue, Dartmouth 123, , , % 123, Morris Drive (Burnsdie Business Park), Dartmouth 118, , , ,661 99% 117, Thornhill Drive, Dartmouth 100, , , % 100, Ilsley Avenue (Burnside Business Park), Dartmo 97,792 97, , ,818 97% 94, Ilsley Avenue, Dartmouth 96,678 96, , ,315 93% 90, Akerley Boulevard, Dartmouth 96,228 96, , ,206 96% 92, Edinburgh Drive, Moncton 93,504 93, , ,604 64% 59, Morris Drive (Burnside Business Park), Dartmouth 89,778 89, , ,334 99% 88, Troop Avenue (Burnside Business Park), Dartmouth 87,049 87, , % 87, Wright Avenue (Burnside Business Park), Dartmout 76,127 76, , ,497 88% 66, Ilsley Avenue (Burnside Business Park), Dartmouth 75,455 75, , ,219 94% 71, Akerley Boulevard, Dartmouth 75,306 75, , % 75, Raddall Avenue (Burnside Business Park), Dartmouth 70,002 70, , % 70, Joseph Zatzman Drive (Burnside Business Park), D 65,671 65, , ,363 92% 60, Akerley Boulevard (Burnside Business Park), Dartmo 62,685 62, , ,227 93% 58, Vidito Drive, Dartmouth 61,988 61, , % 61, Thornhill Drive (Burnside Business Park), Dartmouth 61,362 61, , ,272 87% 53, Akerly Boulevard (Burnside Business Park), Dartmo 57,436 57, , % 57, Mosher Drive (Burnside Business Park), Dartmout 56,937 56, , % 56, Mosher Drive (Burnside Business Park), Dartmout 54,367 54, , % 54, Troop Avenue (Burnside Business Park), Dartmouth 53,859 53, , % 53, Troop Avenue (Burnside Business Park), Dartmouth 47,790 47, , % 47, Ilsley Avenue (Burnside Business Park), Dartmouth 44,829 44, , ,271 93% 41, Wright Avenue (Burnside Business Park), Dartmouth 44,131 44, , ,768 85% 37, Akerley Boulevard, Dartmouth 38,027 38, , % 38, Simmonds Drive (Burnside Business Park), Dartmout 37,576 37, , ,456 88% 33, Thornhill Drive (Burnside Business Park), Dartmouth 32,186 32, , % 32, Thornhill Drive (Burnside Business Park), Dartmouth 32,065 32, , % 32, Thornhill Drive (Burnside Business Park), Dartmouth 32,002 32, , ,835 85% 27, Thornhill Drive, Dartmouth 28,639 28, , ,460 60% 17, Garland Avenue (Burnside Business Park), Dartmou 10,888 10, , % 10,888 Eastern Canada Multi Tenant 2,566,250 2,566, , ,136 94% 2,415,114 Eastern Canada 2,811,887 2,811, , ,136 95% 2,660,751 Total 15,672,530 15,659,340 1,273 11, , % 15,003,020

17 Weighted Average Remaining Lease Term and Average Tenant Size by Building Type June 30, 2013 All Assets 4.83 All Assets 11,796 Western Canada Multi Tenant 4.21 Western Canada Multi Tenant 8,029 Western Canada Single Tenant 5.70 Western Canada Single Tenant 29,913 Central Canada Multi Tenant 3.08 Central Canada Multi Tenant 10,046 Central Canada Single Tenant 7.03 Central Canada Single Tenant 100,738 Eastern Canada Multi Tenant 3.80 Eastern Canada Multi Tenant 5,978 Eastern Canada Single Tenant 3.73 Eastern Canada Single Tenant 49, ,000 40,000 60,000 80, , ,000 Weighted Average Remaining Lease Term in Years Average Tenant Size in Square Feet

18 Table 7a: Largest Tenants by GLA June 30, 2013 Tenant Owned Area (sqft) Properties City Province Spectra / Premium Industries 642, , 1421 and 1451 Rue Ampère Boucherville Quebec 1313 Autoroute Chomedey Laval Quebec Transcontinental Printing 523, Wellington Street East Aurora Ontario 8000 Avenue Blaise-Pascal Montreal Quebec Royal Group Inc. 346, Creditstone Road Vaughan Ontario 121 Pippin Road Vaughan Ontario The Brick Warehouse LP 327, Metropolitan Boulevard East Montreal Quebec Access Distribution 239, Henderson Drive Regina Saskatchewan Molson Breweries Properties 225, Dickson Street (Molson Distribution Centre) Montreal Quebec Hasbro Canada Corporation 222, de la Province Longueuil Quebec Nellson Nutraceutical Canada 210, th Avenue Montreal Quebec Array Canada Inc. 209, Progress Avenue Toronto Ontario McKesson Canada Corporation 181, rue Bergeron Drummondville Quebec Multy Home LP 123, Ormont Drive North York Ontario DIRTT Environmental Solution 122, th Street SE Calgary Alberta Eclipsall Energy Corp. 120, Finch Avenue East Scarborough Ontario Helly Hansen Canada Limited 115, Thornhill Drive (Burnside Business Park) Dartmouth Nova Scotia Richter Advisory Group Inc. 115, St. Laurent Boulevard Ottawa Ontario The Dollco Corporation 114, Industrial Road London Ontario Colabor Limited Partnership 113, Kitimat Road Mississauga Ontario Rocktenn - Preprint Canada 111, Chrislea Road Vaughan Ontario Aquarium Services Warehouse 100, Chrislea Road Vaughan Ontario Total 4,165,401

19 Table 7b: Largest Tenants by Rolling Year Base Rent June 30, 2013 (Includes all tenants where projected rolling year base rent exceeds CDN $500,000) Rank Tenant Total Rolling Base Rent $500,000 or greater $30,303, Spectra / Premium Industries 2. Transcontinental Printing Inc. 3. Molson Breweries Properties 4. The Brick Warehouse LP 5. Royal Group Inc. 6. Clean Harbors Industrial 7. Nellson Nutraceutical Canada 8. Array Canada Inc. 9. Access Distribution 10. McKesson Canada Corporation 11. The Dollco Corporation 12. Colabor Limited Partnership 13. Helly Hansen Canada Limited 14. DIRTT Environmental Solutions 15. Rocktenn - Preprint Canada 16. BUNZL Canada Inc. 17. Royal & Sun Alliance Insurance 18. Supreme Office Products Limited 19. Aquarium Services Warehouse 20. Line-X Intermediate Holdings 21. Sound Design Technologies Ltd. 22. Eclipsall Energy Corp. 23. Magna Closures Inc. 24. Hasbro Canada Corporation 25. Remco Forwarding Limited 26. Net Safety Monitoring Inc. All tenants with Rolling Year Base Rent in excess of $500,000 Total Year Rolling Base Rent $30,303,497 Total GLA in square feet (owned share) 4,616,389 Average Base Rent (PSF) $6.56 % of Portfolio Total Rolling Base Rent 30.54% % of Portfolio Total GLA 29.48%

20 Portfolio Tenant Base (by NAICS Codes) June 30, 2013 Sector By GLA By Contract Rent 31 Manufacturing 27.9% 28.1% 44 Retail Trade 16.2% 15.9% 41 Wholesale Trade 16.2% 15.1% 48 Transportation and Warehousing 11.5% 10.3% 54 Professional, Scientific and Technical Services 5.1% 5.8% 21 Mining and Oil and Gas Extraction 1.7% 3.2% 81 Other 21.3% 21.6% Total % % Manufacturing, 28% Contract Rent by Sector Retail Trade, 16% Other, 22% Mining and Oil and Gas Extraction, 3% Professional, Scientific and Technical Services, 6% Transportation and Warehousing, 10% Wholesale Trade, 15%