Supplementary information package

Transcription

1 Dundee Real Estate Investment Trust Supplementary information package As at March 31,

2 Trust Data The REIT Dundee REIT is an unincorporated open ended real estate investment trust governed by the laws of Ontario. Dundee REIT 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 focus on owning, acquiring, leasing and managing well located, highquality central business district and suburban office properties. On March 31, 2014, our portfolio consisted of approximately 24.6 (1) million square feet of gross leasable area, located in major urban centres across Canada. Our portfolio is well diversified by geographic location and tenant mix. Dundee REIT was formed in connection with the reorganization of the business of Dundee Realty Corporation on June 30, 2003, pursuant to which substantially all of Dundee Realty s commercial real estate division, including senior management, and a joint interest in its property management business were transferred to us. Prior to completing the reorganization, Dundee Realty had established itself as one of Canada s largest real estate companies and had traded on the Toronto Stock Exchange for six years between July 1997 and June 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 office properties in Canada, 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 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 any 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. (1) Excluding assets held for sale and redevelopment properties

3 Capitalization (in thousands of dollars, as at March 31, 2014) Asset value of investment properties, including redevelopment properties and other assets held for sale: $ 7,319,002 Debt, including investment in joint ventures and debt related to assets held for sale: $ 3,649,505 Equity, including subsidiary $ 3,834,483 redeemable units: Rental Property Portfolio (excluding redevelopment properties and properties held for sale) As at March 31, 2014: 186 properties (218 buildings) 24,557,452 square feet Regional Asset Distribution (by square footage, as at March 31, 2014, excluding redevelopment properties and properties held for sale) Western Canada 21% Calgary Downtown 13% Calgary Suburban 3% Toronto Downtown 22% Toronto Suburban 17% Eastern Canada (1) 24% (1) Includes two properties located in the U.S. Occupancy Stabilized assets only Occupancy (including committed) was 94.2% as at March 31, This average excludes redevelopment properties and other properties held for sale. Core Rental Property Markets Toronto, Ontario Calgary, Alberta Edmonton, Alberta Montréal, Québec Kitchener Waterloo, Ontario Ottawa, Ontario Vancouver, British Columbia Regina, Saskatchewan Saskatoon, Saskatchewan Québec City, Québec Yellowknife, Northwest Territories Halifax, Nova Scotia Head Office Dundee Real Estate Investment Trust 30 Adelaide Street East, Suite 1600 Toronto, Ontario, Canada M5C 3H1 Telephone: (416) Fax: (416) Dundee Realty Management Corp. Regional & Management Offices: Surrey, British Columbia Calgary, Alberta Edmonton, Alberta Saskatoon, Saskatchewan Regina, Saskatchewan Yellowknife, Northwest Territories Toronto, Ontario Kitchener, Ontario Ottawa, Ontario Montréal, Québec Trust Information and Stock Exchange Listings Dundee REIT began trading on the Toronto Stock Exchange ( TSX ) on July 2, Dundee REIT was formed in connection with the reorganization of the business of Dundee Realty Corporation on June 30, 2003, pursuant to which substantially all of Dundee Realty s commercial real estate division, including senior management, and a joint interest in its property management business were transferred to the REIT. Dundee Realty was listed on the TSX from July 1997 to June 30, As at March 31, 2014, the REIT had 103,996,154 REIT Units, Series A and 3,538,457 LP Class B Units, Series 1 outstanding. Listing Symbols: TSX REIT Units, Series A: D.UN 5.5% Series H Debenture: D.DB.H 5.95% Senior Unsecured Debenture, Series K: D.DB.K

4 Transfer Agent Computershare Trust Company of Canada 100 University Avenue, 9 th Floor Toronto, Ontario, Canada M5H 2Y1 Board of Trustees (as at May 8, 2014) Joanne Ferstman, Chairperson Detlef Bierbaum Donald Charter Michael Cooper Peter Crossgrove Robert Goodall Duncan Jackman Executive Officers (as at May 8, 2014) P. Jane Gavan Chief Executive Officer Mario Barrafato Chief Financial Officer Ana Radic Chief Operating Officer Investor Relations Dundee Real Estate Investment Trust 30 Adelaide Street East, Suite 1600 Toronto, Ontario, Canada M5C 3H1 Telephone: (416) Fax: (416) info@dundeereit.com P. Jane Gavan Chief Executive Officer Telephone: (416) jgavan@dundeerealty.com Mario Barrafato Chief Financial Officer Telephone: (416) mbarrafato@dundeereit.com Barbara Wallner Vice President, Communications Telephone: (416) bwallner@dundeerealty.com Web Site

5 Table 1: Revenue Properties March 31, 2014 Owned Share of Region Ownership in Square Feet in Square Feet Western Canada % 5,426,529 5,094,031 Calgary Downtown 89.9% 3,501,661 3,147,077 Calgary Suburban % 925, ,863 Toronto Downtown 86.7% 6,228,654 5,399,239 Toronto Suburban 76.5% 5,505,861 4,213,598 Eastern Canada % 6,420,122 5,890,644 Total % 28,008,109 24,557,452 Redevelopment Properties 100.0% 52,285 52,285 Held for Sale Properties 25.0% 369,384 92,347 Total Assets Including Redevelopment and Held for Sale Properties 86.9% 28,429,778 24,702,084 1 Excludes Redevelopment and Held for Sale Properties 2 Includes Properties in Southwestern Ontario COMMERCIAL REVENUE PROPERTIES BY REGION Toronto Downtown 22.0% Toronto Suburban 17.2% Calgary Suburban 3.3% Calgary Downtown 12.8% Eastern Canada 24.0% Western Canada 20.7%

6 Table 2: Revenue Properties March 31, 2014 Owned Share of Total Site Owned Share Year Year Area of Site Area Property Ownership in Square Feet in Square Feet Built Renovated in Acres in Acres Description of Asset HSBC Bank Place, Edmonton 100.0% 299, , storey downtown office building with commercial parkade Enbridge Place, Edmonton 100.0% 262, , storey downtown office building Saskatoon Square, Saskatoon 100.0% 228, , storey downtown office building Station Tower, Surrey 100.0% 219, , storey office building with grade level retail 1900 Sherwood Place, Regina 100.0% 185, , One 9-storey and one 2-storey downtown office buildings Milner Building, Edmonton 100.0% 173, , storey downtown office building 887 Great Northern Way, Vancouver 100.0% 164, , storey office building 2257 & 2301 Premier Way, Sherwood Park 100.0% 153, , storey suburban office building 2121 & 2181 Premier Way, Sherwood Park 100.0% 151, , / storey suburban office building Victoria Tower, Regina 100.0% 144, , storey downtown government office building Baker Centre, Edmonton 100.0% 143, , storey downtown office building with parkade Princeton Tower, Saskatoon 100.0% 133, , storey downtown office building with grade level retail rd Avenue N., Saskatoon 100.0% 130, , storey office building HSBC Building, Edmonton 100.0% 118, , storey downtown office building with underground parking Canada Way, Burnaby 100.0% 117, , Two 2-storey suburban office buildings Wireless Way, Richmond 100.0% 116, , storey suburban office building Highfield Place, Edmonton 100.0% 104, , storey downtown office building Scotia Centre, Yellowknife 100.0% 102, , storey office building Richmond Place, Richmond 100.0% 94,656 94, storey suburban office building 4400 Dominion Street, Burnaby 100.0% 93,095 93, / storey suburban office building 2055 Premier Way, Strathcona County 100.0% 91,137 91, storey flex office building Precambrian Building, Yellowknife 100.0% 91,016 91, storey office building Township Road 531, Parkland County 100.0% 89,165 89, storey flex warehouse building Northwest Tower, Yellowknife 100.0% 87,994 87, storey office building 625 Agnes Street, New Westminster 100.0% 85,632 85, storey suburban office building 2899 Broadmoor Blvd., Strathcona County 100.0% 82,817 82, storey suburban office building 2693 Broadmoor Blvd., Strathcona County 100.0% 81,873 81, storey suburban office building Winterburn Rd NW, Edmonton 100.0% 82,341 82, storey flex industrial building 1914 Hamilton Street, Regina 100.0% 82,264 82, storey downtown office building 2665 Renfrew Street, Vancouver 100.0% 81,662 81, storey suburban office building Lansdowne Street, Kamloops 40.0% 190,670 76, One 1-storey, one 2-storey and one 4-storey retail and office complex 2833 Broadmoor Blvd., Strathcona County 100.0% 75,762 75, storey flex office building 2261 Keating Cross Road, Victoria 40.0% 181,693 72, One 2-storey with 4-storey suburban office buildings Financial Building, Regina 100.0% 65,764 65, storey downtown office building 4370 Dominion Street, Burnaby 100.0% 63,930 63, storey suburban office building Preston Centre, Saskatoon 100.0% 61,867 61, storey suburban office building with grade level retail 960 Quayside Drive, New Westminster 100.0% 61,694 61, storey suburban office building 2755 Broadmoor Blvd., Sherwood Park 100.0% 61,302 61, storey suburban office building st Street NW, Edmonton 50.0% 121,357 60, storey downtown office building 2220 College Avenue, Regina 100.0% 59,590 59, storey suburban office building Morgex Building, Edmonton 100.0% 53,000 53, storey suburban office building Gallery Building, Yellowknife 100.0% 50,149 50, storey office building th Avenue NW, Edmonton 100.0% 48,542 48, storey flex industrial building St. Albert Trail Centre, Edmonton 50.0% 96,804 48, storey suburban office building Harbour Landing, Phase 2, Regina, Saskatchewan 100.0% 38,738 38, storey suburban office building th Street NW, Edmonton 100.0% 38,861 38, storey suburban office building 2400 College Avenue, Regina 100.0% 35,528 35, storey suburban office building Royal Centre, Saskatoon 100.0% 32,131 32, Retail component of office/retail complex th Avenue NW, Edmonton 100.0% 28,722 28, storey flex industrial building

7 Table 2: Revenue Properties March 31, 2014 Owned Share of Total Site Owned Share Year Year Area of Site Area Property Ownership in Square Feet in Square Feet Built Renovated in Acres in Acres Description of Asset 2208 Scarth Street, Regina 100.0% 25,310 25, storey suburban office building Royal Centre, Saskatoon 100.0% 16,423 16, storey downtown office/retail complex th Avenue, Regina 100.0% 16,096 16, storey downtown office building 234-1st Avenue South, Saskatoon 100.0% 9,567 9, storey parking garage with grade level retail Western Canada 93.9% 5,426,529 5,094, Telus Tower, Calgary 50.0% 709, , storey downtown office building IBM Corporate Park, Calgary 100.0% 357, , One 5-storey and two 6-storey downton office buildings 840-7th Avenue SW, Calgary 100.0% 269, , storey downtown office building 444-7th Building, Calgary 100.0% 251, , storey downtown office building McFarlane Tower, Calgary 100.0% 242, , storey downtown office building Life Plaza, Calgary 100.0% 236, , storey downtown office building Rocky Mountain Plaza, Calgary 100.0% 205, , storey downtown office building Northland Building, Calgary 100.0% 146, , storey downtown office building 606 4th Building & Barclay Parkade, Calgary 100.0% 134, , storey downtown office building and parkade Roslyn Building, Calgary 100.0% 131, , storey downtown office building Atrium I, Calgary 100.0% 109, , storey downtown office building Atrium II, Calgary 100.0% 109, , storey downtown office building 510-5th Street SW, Calgary 100.0% 109, , storey downtown office building Joffre Place, Calgary 100.0% 107, , storey downtown office building Dominion Centre, Calgary 100.0% 99,014 99, storey downtown office building 435-4th Avenue SW, Calgary 100.0% 88,737 88, storey downtown office building th Ave SW, Calgary 100.0% 75,129 75, storey downtown office building Mount Royal Place, Calgary 100.0% 59,384 59, storey downtown office building 441-5th Avenue SW, Calgary 100.0% 59,079 59, storey downtown office building Calgary Downtown Office 89.9% 3,501,661 3,147, Franklin Atrium, Calgary 100.0% 149, , Two 2-storey suburban office buildings Airport Corporate Centre, Calgary 100.0% 149, , storey suburban office building 2891 Sunridge Way, Calgary 100.0% 87,250 87, storey suburban office building Kensington House, Calgary 100.0% 77,906 77, / storey suburban office buidling with grade retail th Street NE, Calgary 100.0% 73,541 73, storey suburban office building Bannister Road, SE, Calgary 100.0% 61,226 61, storey office building 9705 Horton Road SW, Calgary 100.0% 55,363 55, One 5-storey and two 2-storey suburban office buildings Braithwaite Boyle Centre, Calgary 100.0% 54,794 54, storey suburban office building Franklin Building, Calgary 100.0% 50,577 50, storey suburban office building th Street NE, Calgary 100.0% 33,542 33, storey suburban office building Centre 70, Calgary 15.0% 132,257 19, storey suburban office building Calgary Suburban Office 87.9% 925, , Scotia Plaza (40 King Street West), Toronto 66.7% 1,579,047 1,052, storey, 5-storey and 3-storey downtown office buildings with below grade Adelaide Place, Toronto 100.0% 655, , One 22-storey and one 20-storey downtown office buildings State Street Financial Centre, Toronto 100.0% 413, , storey downtown office building AIR MILES Tower, Toronto 100.0% 322, , storey downtown office building 655 Bay Street, Toronto 100.0% 297, , storey downtown office building Scotia Plaza (44 King Street West), Toronto 66.7% 401, , storey downtown office building 74 Victoria St/137 Yonge St, Toronto 100.0% 265, , / storey commercial office building 720 Bay Street, Toronto 100.0% 247, , storey downtown office building 36 Toronto Street, Toronto 100.0% 214, , / storey downtown office building

8 Table 2: Revenue Properties March 31, 2014 Owned Share of Total Site Owned Share Year Year Area of Site Area Property Ownership in Square Feet in Square Feet Built Renovated in Acres in Acres Description of Asset 18 King Street East, Toronto 100.0% 231, , / storey downtown office building 330 Bay Street, Toronto 100.0% 161, , One 16-storey and one 11-storey downtown office buildings 100 Yonge Street, Toronto 66.7% 242, , storey downtown office building 20 Toronto St/33 Victoria St, Toronto 100.0% 157, , / storey commercial office building 8 King Street East, Toronto 100.0% 147, , / storey downtown office building 250 Dundas Street West, Toronto 100.0% 121, , storey downtown office building Victory Building, Toronto 100.0% 101, , / storey downtown office building 425 Bloor Street East, Toronto 100.0% 83,528 83, storey downtown office building 212 King Street West, Toronto 100.0% 73,277 73, storey downtown historical office building 357 Bay Street, Toronto 100.0% 63,529 63, storey downtown office building 360 Bay Street, Toronto 100.0% 57,744 57, / storey downtown office building 10 King Street East, Toronto 100.0% 57,253 57, storey downtown office building 350 Bay Street, Toronto 100.0% 52,782 52, storey downtown office building 67 Richmond Street West, Toronto 100.0% 50,158 50, storey downtown office building 366 Bay Street, Toronto 100.0% 36,371 36, / storey downtown office building 49 Ontario Street, Toronto 40.0% 87,105 34, storey downtown office building 56 Temperance Street, Toronto 100.0% 32,286 32, storey downtown office building 10 Lower Spadina Avenue, Toronto 40.0% 60,255 24, storey downtown office building 83 Yonge Street, Toronto 100.0% 11,504 11, storey downtown office building with grade level retail Toronto Downtown 86.7% 6,228,654 5,399, Airport Road, Mississauga 100.0% 492, , storey suburban office building Aviva Corporate Centre, Toronto 100.0% 352, , storey, 2-storey, and 7-storey suburban office complex Airport Road, Mississauga 100.0% 331, , storey and 7-storey suburban office buildings, 1-storey and 2-storey flex bu 5001 Yonge Street, Toronto 100.0% 308, , storey office building 2075 Kennedy Road, Toronto 100.0% 206, , storey suburban office building Airport Road, Mississauga 100.0% 177, , storey suburban office complex 50 Burnhamthorpe Road West, Mississauga 49.9% 348, , storey suburban office building with retail space 30 Eglinton Avenue West, Mississauga 100.0% 165, , storey suburban office building 401 & 405 The West Mall Street, Toronto 40.0% 411, , Two 11-storey suburban office buildings 300, 302 & 304 The East Mall, Toronto 49.9% 326, , storey and two 6-storey suburban office buildings 625 Cochrane Drive, Markham 100.0% 162, , storey suburban office building Valleywood Corporate Centre, Markham 100.0% 154, , storey suburban office building 90 Burnhamthorpe Road West, Mississauga 49.9% 301, , storey suburban office buildings with retail space 185 The West Mall, Toronto 49.9% 297, , storey suburban office building 2645 Skymark Ave., Mississauga 100.0% 142, , storey suburban office building with warehouse 6299 Airport Road, Mississauga 100.0% 90,779 90, storey suburban office building 1020 Birchmount, Toronto 100.0% 87,161 87, storey industrial building 6303 Airport Road, Mississauga 100.0% 80,325 80, storey suburban office building 195 The West Mall, Toronto 49.9% 160,812 80, storey suburban office building 191 The West Mall, Toronto 49.9% 158,260 78, storey suburban office building 586 Argus Road, Oakville 100.0% 74,570 74, storey suburban office building 2810 Matheson Boulevard East, Mississauga 49.9% 139,035 69, storey suburban office building with grade level retail 6509 Airport Road, Mississauga 100.0% 60,000 60, storey suburban office building 2550 Argentia Road, Mississauga 100.0% 51,639 51, storey suburban office building 100 Gough Road, Markham 100.0% 111, , storey suburban data centre 6501 Mississauga Road, Mississauga 40.0% 85,025 34, storey suburban office building 2010 Winston Park Drive, Oakville 40.0% 79,137 31, storey suburban office building 6531 Mississauga Road, Mississauga 40.0% 71,192 28, storey suburban office building 80 Whitehall Drive, Markham 40.0% 60,805 24, storey suburban office building

9 Table 2: Revenue Properties March 31, 2014 Owned Share of Total Site Owned Share Year Year Area of Site Area Property Ownership in Square Feet in Square Feet Built Renovated in Acres in Acres Description of Asset 3035 Orlando Drive, Mississauga 100.0% 16,754 16, storey suburban office building Toronto Suburban 76.5% 5,505,861 4,213, De la Gauchetière Street West, Montréal 100.0% 953, , / storey downtown office building 445 Opus Industrial Boulevard, Mount Juliet, Nashville 100.0% 717, , storey industrial building 275 Dundas Street West, London 40.0% 540, , One 21-storey and one 23-storey downtown office buildings 200 Chemin Sainte-Foy, Quebec City 100.0% 398, , storey office building with parking Market Square, Kitchener 100.0% 241, , storey downtown office/retail building 100 Frederick Street, Kitchener 100.0% 239, , storey downtown office building 1 Riverside Drive,Windsor 100.0% 235, , storey office building with ground floor podium and below grade retail 50 Queen Street North, Kitchener 100.0% 170, , storey downtown office building 55 King Street West, Kitchener 100.0% 124, , storey downtown office building 235 King Street East, Kitchener 100.0% 100, , storey downtown office building with underground parking 22 Frederick Street, Kitchener 100.0% 95,855 95, storey downtown office building Accelerator Building, Waterloo 100.0% 92,762 92, storey office building 180 Keil Drive South, Chatham 100.0% 36,927 36, storey office building with parking 70 King Street East, Kitchener 100.0% 9,485 9, storey retail restaurant building 2450 Rue Girouard, Saint-Hyacinthe 100.0% 231, , Two 5-storey office buildings Foster Street, Overland Park 100.0% 185, , storey office building with parking 400 Cumberland Road, Ottawa 100.0% 174, , storey downtown office building Walkley Road, Ottawa 100.0% 158, , One 2-storey and one 5-storey suburban office buildings 130 Slater Street, Ottawa 100.0% 122, , storey downtown office building 900 D'Youville, Quebec City 100.0% 122, , One 9-storey and one 8-storey office buildings Gateway Business Park, Ottawa 100.0% 120, , Three 6-storey suburban office buildings 1125 Innovation Drive, Ottawa 100.0% 115, , One 3-storey and two 2-storey suburban office buildings 150 Metcalfe Street, Ottawa 100.0% 109, , storey downtown office building 22 Varennes Street, Gatineau 100.0% 107, , storey suburban office building 360 Laurier Avenue West,Ottawa 100.0% 107, , storey downtown office building 580 Rue Grande Allée, Quebec City 100.0% 90,859 90, storey office building with parkade 250 King Street, Fredericton 100.0% 80,162 80, storey office building 277 Pleasant Street, Dartmouth 100.0% 76,527 76, storey office building with underground parking 219 Laurier Avenue West, Ottawa 40.0% 187,783 75, storey downtown office building 8550 Newman Boulevard, Montreal 100.0% 66,397 66, storey suburban office building 236 Brownlow Avenue, Dartmouth 100.0% 60,739 60, storey suburban office building 2625 Queensview Drive, Ottawa 100.0% 46,156 46, storey suburban office building 1305 Chemin Sainte-Foy, Quebec City 100.0% 36,556 36, storey office building with parking Seven Capella Court, Ottawa 100.0% 31,362 31, storey suburban office building 111 Ilsley Avenue, Dartmouth 100.0% 27,428 27, storey suburban office building 700 De la Gauchetière Street West, Montréal 79.2% 32,526 25, / level retail podium 680 Broadway Street, Tillsonburg 49.9% 47,016 23, storey neighbourhood shopping plaza 141 Saint Jean Street, Quebec City 100.0% 22,333 22, storey office/residential building 460 Two Nations Crossing, Fredericton 40.0% 50,945 20, storey suburban office building 117 Kearney Lake Road, Halifax 35.0% 36,353 12, storey retail plaza 55 Norfolk Street South, Simcoe 40.0% 12,887 5, storey office/retail complex Eastern Canada Office/US 91.8% 6,420,122 5,890, Total 87.7% 28,008,109 24,557,

10 Table 2: Revenue Properties March 31, 2014 Owned Share of Total Site Owned Share Year Year Area of Site Area Property Ownership in Square Feet in Square Feet Built Renovated in Acres in Acres Description of Asset Redevelopment Properties: Bellanca Building, Yellowknife 100.0% 52,285 52, storey office building Redevelopment Properties 52,285 52, Held of Sale Properties: Riverbend Atrium, Calgary 25.0% 88,219 22, storey suburban office building Stockman Centre, Calgary 25.0% 62,526 15, storey suburban office building with underground parking th Street, Edmonton 25.0% 154,525 38, storey downtown office building with underground parking Capital Centre, Edmonton 25.0% 64,114 16, storey downtown office building Held for Sale Properties 369,384 92, Total Including Redeveloped Properties 28,429,778 24,702,

11 Table 3: Expiring vs Market Rents 1 ( ) March 31, Owned Share of Monthly and Temporary Expiring Rent Expiring Rent Expiring Rent Expiring Rent Expiring Rent Region in Square Feet Tenancies Western Canada 1 5,094,031 $ - $ $ $ $ $ Calgary Downtown 3,147,077 $ $ $ $ $ $ Calgary Suburban 1 812,863 $ - $ $ $ $ $ Toronto Downtown 5,399,239 $ 6.50 $ $ $ $ $ Toronto Suburban 4,213,598 $ - $ $ $ $ $ Eastern Canada 2 5,890,644 $ 3.36 $ $ $ $ $ Total 3 24,557,452 $ $ $ $ $ $ Market Rent for Contracted Lease Expiries 4 $ $ $ $ $ $ Expiring vs Market Rents Monthly and Short Term Tenancies Excludes Redevelopment and Held for Sale Properties 2 Includes Properties in Southwestern Ontario 3 Expiring Rents reflect cash rents 4 Estimate only, subject to change with market conditions in each market segment, not inflated for future years

12 Table 4: Average In-Place Rents March 31, 2014 Owned Share of Average In Place Net Rent Market Rent 1 Region in Square Feet Total Occupied GLA Total Occupied GLA Western Canada 1 5,094,031 $ $ Calgary Downtown 3,147,077 $ $ Calgary Suburban 1 812,863 $ $ Toronto Downtown 5,399,239 $ $ Toronto Suburban 4,213,598 $ $ Eastern Canada 2 5,890,644 $ $ Total 3 24,557,452 $ $ Excludes Redevelopment and Held for Sale Properties 2 Includes Properties in Southwestern Ontario 3 Estimate only, subject to change with market conditions in each market segment, not inflated for future years

13 Table 5: Annual Contracted Lease Rollovers ( ) March 31, 2014 Owned Share of Total GLA Owned Share Owned Share Monthly and Temporary Owned Share Expiring Owned Share Expiring Owned Share Expiring Owned Share Expiring Owned Share Expiring Owned Share Expiring Region in Square Feet Vacant Tenancies Western Canada 1 5,094, ,105 1, , , , , ,925 1,352,920 Calgary Downtown 3,147, , , , , , , , ,069 Calgary Suburban 1 812, , ,437 67, , , , ,217 Toronto Downtown 5,399, ,119 2, , , , , ,055 2,635,200 Toronto Suburban 4,213, , , , , , ,920 1,132,723 Eastern Canada 2 5,890, ,383 2, , , , , ,089 3,163,199 Total 1 24,557,452 1,430, ,825 1,340,338 2,197,007 3,435,994 3,713,606 2,887,992 9,444, % 5.8% 0.4% 5.5% 8.9% 14.0% 15.1% 11.8% 38.5% (10,104,242) (3,383) (633,556) (1,059,749) (949,457) (1,495,709) (991,009) Annual Contracted Lease Rollovers by Region 38.5% 5.8% 0.4% 5.5% 8.9% 14.0% 15.1% 11.8% Owned Share Vacant Owned Share Monthly and Temporary Tenancies Excludes Redevelopment and Held for Sale Properties 2 Includes Properties in Southwestern Ontario

14 Average Remaining Lease Term and Tenant Size by Region March 31, 2014 Average Remaining Lease Term in Years Average Tenant Size in Square Feet #DIV/0! Total Total 11,549 Eastern Canada Eastern Canada 17,706 Toronto Suburban 3.72 Toronto Suburban 11,170 Toronto Downtown 6.14 Toronto Downtown 10,636 Calgary Suburban Calgary Suburban 6,443 Calgary Downtown 3.67 Calgary Downtown 11,312 1 Western Canada Western Canada 10,102 1 Excludes Redevelopment and Held for Sale Properties 2 Includes Properties in Southwestern Ontario

15 Table 6: Occupancy By Asset March 31, 2014 Owned Share of Average Tenant Average Lease Owned Share Owned Shared No. of Size Term Remaining Vacant Property in Square Feet in Square Feet Tenants in Square Feet in years in Square Feet Occupancy % Occupancy HSBC Bank Place, Edmonton 299, , , , % 278,746 Enbridge Place, Edmonton 262, , , % 262,456 Saskatoon Square, Saskatoon 228, , , , % 215,624 Station Tower, Surrey 219, , , , % 201, Sherwood Place, Regina 185, , , % 185,104 Milner Building, Edmonton 173, , , % 173, Great Northern Way, Vancouver 164, , , % 164,364 Victoria Tower, Regina 144, , , % 144,165 Baker Centre, Edmonton 143, , , , % 127,977 Princeton Tower, Saskatoon 133, , , , % 110, rd Avenue N., Saskatoon 130, , , % 130,415 HSBC Building, Edmonton 118, , , , % 110, Canada Way, Burnaby 117, , , , % 99, Wireless Way, Richmond 116, , , % 116,530 Highfield Place, Edmonton 104, , , , % 49,370 Scotia Centre, Yellowknife 102, , , , % 99,303 Richmond Place, Richmond 94,656 94, , , % 79, Dominion Street, Burnaby 93,095 93, , , % 90, Premier Way, Strathcona County 91,137 91, , % 91,137 Precambrian Building, Yellowknife 91,016 91, , , % 78, Township Road 531, Parkland County 89,165 89, , , % 87,205 Northwest Tower, Yellowknife 87,994 87, , , % 80, Agnes Street, New Westminster 85,632 85, , , % 77, Broadmoor Blvd., Strathcona County 82,817 82, , % 82, Broadmoor Blvd., Strathcona County 81,873 81, , , % 76, Winterburn Rd NW, Edmonton 82,341 82, , , % 75, Hamilton Street, Regina 82,264 82, , % 82, Renfrew Street, Vancouver 81,662 81, , % 81, Lansdowne Street, Kamloops 190,670 76, , , % 64, Broadmoor Blvd., Strathcona County 75,762 75, , , % 61, Keating Cross Road, Victoria 181,693 72, , , % 60,316 Financial Building, Regina 65,764 65, , % 65, Dominion Street, Burnaby 63,930 63, , , % 62,728 Preston Centre, Saskatoon 61,867 61, , % 61, Quayside Drive, New Westminster 61,694 61, , , % 58, Broadmoor Blvd., Sherwood Park 366, , , , % 352, st Street NW, Edmonton 121,357 60, , , % 32, College Avenue, Regina 59,590 59, , % 59,590 Morgex Building, Edmonton 53,000 53, , % 53,000

16 Table 6: Occupancy By Asset March 31, 2014 Owned Share of Average Tenant Average Lease Owned Share Owned Shared No. of Size Term Remaining Vacant Property in Square Feet in Square Feet Tenants in Square Feet in years in Square Feet Occupancy % Occupancy Gallery Building, Yellowknife 50,149 50, , % 50, th Avenue NW, Edmonton 48,542 48, , , % 38,738 St. Albert Trail Centre, Edmonton 96,804 48, , % 48,402 Harbour Landing, Phase 2, Regina, Saskatchewan 38,738 38, , % 38, th Street NW, Edmonton 38,861 38, , % 38, College Avenue, Regina 35,528 35, , , % 32,781 Royal Centre, Saskatoon 32,131 32, , % 32, th Avenue NW, Edmonton 28,722 28, , , % 26, Scarth Street, Regina 25,310 25, , % 25,310 Royal Centre, Saskatoon 16,423 16, , , % 14, th Avenue, Regina 16,096 16, , , % 10, st Avenue South, Saskatoon 9,567 9, , % 9,567 Western Canada 1 5,426,529 5,094, , , % 4,752,926 Telus Tower, Calgary 709, , , , % 352,851 IBM Corporate Park, Calgary 357, , , % 357, th Avenue SW, Calgary 269, , , , % 259, th Building, Calgary 251, , , , % 241,500 McFarlane Tower, Calgary 242, , , , % 234,222 Life Plaza, Calgary 236, , , , % 224,348 Rocky Mountain Plaza, Calgary 205, , , , % 198,587 Northland Building, Calgary 146, , , , % 130, th Building & Barclay Parkade, Calgary 134, , , , % 126,997 Roslyn Building, Calgary 131, , , , % 130,330 Atrium I, Calgary 109, , , % 109,793 Atrium II, Calgary 109, , , , % 94, th Street SW, Calgary 109, , , , % 103,775 Joffre Place, Calgary 107, , , , % 98,519 Dominion Centre, Calgary 99,014 99, , , % 91, th Avenue SW, Calgary 88,737 88, , , % 86, th Ave SW, Calgary 75,129 75, , , % 71,709 Mount Royal Place, Calgary 59,384 59, , , % 57, th Avenue SW, Calgary 59,079 59, , , % 48,409 Calgary Downtown Office 3,501,661 3,147, , , % 3,018,189 Franklin Atrium, Calgary 149, , , , % 140,828 Airport Corporate Centre, Calgary 149, , , , % 126, Sunridge Way, Calgary 87,250 87, , % 87,250 Kensington House, Calgary 77,906 77, , , % 74, th Street NE, Calgary 73,541 73, , , % 34,435

17 Table 6: Occupancy By Asset March 31, 2014 Owned Share of Average Tenant Average Lease Owned Share Owned Shared No. of Size Term Remaining Vacant Property in Square Feet in Square Feet Tenants in Square Feet in years in Square Feet Occupancy % Occupancy Bannister Road, SE, Calgary 61,226 61, , % 61, Horton Road SW, Calgary 55,363 55, , , % 48,073 Braithwaite Boyle Centre, Calgary 54,794 54, , , % 41,357 Franklin Building, Calgary 50,577 50, , % 50, th Street NE, Calgary 33,542 33, , , % 18,369 Centre 70, Calgary 132,257 19, , , % 17,441 Calgary Suburban Office 1 925, , , , % 700,073 Scotia Plaza (40 King Street West), Toronto 1,579,047 1,052, , , % 1,036,621 Adelaide Place, Toronto 655, , , , % 635,045 State Street Financial Centre, Toronto 413, , , % 413,933 AIR MILES Tower, Toronto 322, , , , % 319, Bay Street, Toronto 297, , , , % 289,427 Scotia Plaza (44 King Street West), Toronto 401, , , % 267, Victoria St/137 Yonge St, Toronto 265, , , % 265, Bay Street, Toronto 247, , , % 247, Toronto Street, Toronto 214, , , , % 208, King Street East, Toronto 231, , , , % 225, Bay Street, Toronto 161, , , , % 132, Yonge Street, Toronto 242, , , % 161, Toronto St/33 Victoria St, Toronto 157, , , , % 152,606 8 King Street East, Toronto 147, , , , % 141, Dundas Street West, Toronto 121, , , % 121,593 Victory Building, Toronto 101, , , , % 96, Bloor Street East, Toronto 83,528 83, , , % 71, King Street West, Toronto 73,277 73, , % 73, Bay Street, Toronto 63,529 63, , , % 44, Bay Street, Toronto 57,744 57, , , % 49, King Street East, Toronto 57,253 57, , , % 52, Bay Street, Toronto 52,782 52, , , % 44, Richmond Street West, Toronto 50,158 50, , % 50, Bay Street, Toronto 36,371 36, , , % 30, Ontario Street, Toronto 87,105 34, , , % 32, Temperance Street, Toronto 32,286 32, , , % 28, Lower Spadina Avenue, Toronto 60,255 24, , , % 22, Yonge Street, Toronto 11,504 11, , % 11,504 Toronto Downtown 6,228,654 5,399, , , % 5,227, Airport Road, Mississauga 492, , , , % 404,349 Aviva Corporate Centre, Toronto 352, , , % 352,425

18 Table 6: Occupancy By Asset March 31, 2014 Owned Share of Average Tenant Average Lease Owned Share Owned Shared No. of Size Term Remaining Vacant Property in Square Feet in Square Feet Tenants in Square Feet in years in Square Feet Occupancy % Occupancy Airport Road, Mississauga 331, , , % 331, Yonge Street, Toronto 308, , , , % 306, Kennedy Road, Toronto 206, , , , % 181, Airport Road, Mississauga 177, , , , % 160, Burnhamthorpe Road West, Mississauga 348, , , , % 140, Eglinton Avenue West, Mississauga 165, , , , % 143, & 405 The West Mall Street, Toronto 411, , , , % 160, , 302 & 304 The East Mall, Toronto 326, , , , % 159, Cochrane Drive, Markham 162, , , % 162,792 Valleywood Corporate Centre, Markham 154, , , , % 145, Burnhamthorpe Road West, Mississauga 301, , , , % 133, The West Mall, Toronto 297, , , , % 142, Skymark Ave., Mississauga 142, , , % 142, Airport Road, Mississauga 90,779 90, , , % 79, Birchmount, Toronto 87,161 87, , , % 55, Airport Road, Mississauga 80,325 80, , , % 73, The West Mall, Toronto 160,812 80, , % 80, The West Mall, Toronto 158,260 78, , , % 73, Argus Road, Oakville 74,570 74, , % 74, Matheson Boulevard East, Mississauga 139,035 69, , , % 61, Airport Road, Mississauga 60,000 60, , % 60, Argentia Road, Mississauga 51,639 51, , , % 46, Gough Road, Markham 111, , , % 111, Mississauga Road, Mississauga 85,025 34, , , % 26, Winston Park Drive, Oakville 79,137 31, , , % 21, Mississauga Road, Mississauga 71,192 28, , , % 22, Whitehall Drive, Markham 60,805 24, , % 24, Orlando Drive, Mississauga 16,754 16, , % 16,754 Toronto Suburban 5,505,861 4,213, , , % 3,894, De la Gauchetière Street West, Montréal 953, , , , % 921, Opus Industrial Boulevard, Mount Juliet, Nashville 717, , , % 717, Dundas Street West, London 540, , , , % 202, Chemin Sainte-Foy, Quebec City 398, , , % 398,351 Market Square, Kitchener 241, , , , % 237, Frederick Street, Kitchener 239, , , , % 211,702 1 Riverside Drive,Windsor 235, , , , % 190, Queen Street North, Kitchener 170, , , , % 159, King Street West, Kitchener 124, , , , % 88, King Street East, Kitchener 100, , , , % 79,025

19 Table 6: Occupancy By Asset March 31, 2014 Owned Share of Average Tenant Average Lease Owned Share Owned Shared No. of Size Term Remaining Vacant Property in Square Feet in Square Feet Tenants in Square Feet in years in Square Feet Occupancy % Occupancy 22 Frederick Street, Kitchener 95,855 95, , , % 73,413 Accelerator Building, Waterloo 92,762 92, , % 92, Keil Drive South, Chatham 36,927 36, , % 36, King Street East, Kitchener 9,485 9, , % 9, Rue Girouard, Saint-Hyacinthe 231, , , % 231, Foster Street, Overland Park 185, , , % 185, Cumberland Road, Ottawa 174, , , % 174, Walkley Road, Ottawa 158, , , % 158, Slater Street, Ottawa 122, , , , % 120, D'Youville, Quebec City 122, , , , % 120,434 Gateway Business Park, Ottawa 120, , , , % 111, Innovation Drive, Ottawa 115, , , , % 93, Metcalfe Street, Ottawa 109, , , % 108, Varennes Street, Gatineau 107, , , % 107, Laurier Avenue West,Ottawa 107, , , % 107, Rue Grande Allée, Quebec City 90,859 90, , , % 56, King Street, Fredericton 80,162 80, , % 80, Pleasant Street, Dartmouth 76,527 76, , , % 75, Laurier Avenue West, Ottawa 187,783 75, , % 75, Newman Boulevard, Montreal 66,397 66, , , % 56, Brownlow Avenue, Dartmouth 60,739 60, , , % 21, Queensview Drive, Ottawa 46,156 46, , % 46, Chemin Sainte-Foy, Quebec City 36,556 36, , , % 28,154 Seven Capella Court, Ottawa 31,362 31, , % 31, Ilsley Avenue, Dartmouth 27,428 27, , , % 23, De la Gauchetière Street West, Montréal 32,526 25, , % 18, Broadway Street, Tillsonburg 47,016 23, , % 23, Saint Jean Street, Quebec City 22,333 22, , % 22, Two Nations Crossing, Fredericton 50,945 20, , % 20, Kearney Lake Road, Halifax 36,353 12, , % 12, Norfolk Street South, Simcoe 12,887 5, , % 5,155 Eastern Canada Office/US 6,420,122 5,890, , , % 5,534,261 Total 1 28,008,109 24,557,452 2,281 11, ,430, % 23,127,091 1 Excludes Redevelopment and Held for Sale Properties

20 Table 7a: Largest Tenants by GLA March 31, 2014 Owned Area of Tenant in Square Feet Properties City Province Government of Canada 1,618,361 2 Properties Yellowknife Northwest Territories 1 Property Surrey British Columbia 1 Property New Westminster British Columbia 1 Property Burnaby British Columbia 4 Properties Saskatoon Saskatchewan 1 Property Regina Saskatchewan 3 Properties Calgary Alberta 2 Properties Edmonton Alberta 4 Properties Toronto Ontario 3 Properties Kitchener Ontario 6 Properties Ottawa Ontario 1 Property Gatineau Quebec 1 Properties Dartmouth Nova Scotia Bank of Nova Scotia 991,269 1 Property Yellowknife Northwest Territories 1 Property Surrey British Columbia 1 Property Calgary Alberta 2 Properties Saskatoon Saskatchewan 7 Properties Toronto Ontario 1 Property Markham Ontario 2 Properties Mississauga Ontario 2 Properties Kitchener Ontario Nissan North America Inc. 717, Opus Industrial Boulevard Mount Juliet Nashville Government of Quebec 696,849 1 Property Montreal Quebec 4 Properties Quebec City Quebec Government of Ontario 670,353 7 Properties Toronto Ontario 1 Property Ottawa Ontario 1 Property Kitchener Ontario Bell Canada 376,694 Northwest Tower Yellowknife Northwest Territories Lansdowne Kamloops British Columbia Enbridge Place Edmonton Alberta Scotia Plaza Toronto Ontario Gateway Business Park Ottawa Ontario 700 De la Gauchetiere Street West Montreal Quebec Government of Saskatchewan 374,736 6 Properties Regina Saskatchewan 1 Property Saskatoon Saskatchewan Aviva Canada Inc. 335,900 HSBC Bank Place Edmonton Alberta Eglinton Avenue Toronto Ontario East Government of Alberta 312,481 8 Properties Calgary Alberta 4 Properties Edmonton Alberta Telus 287, Keating Cross Road Victoria British Columbia Telus Tower Calgary Alberta Government of British Columbia 272,867 Station Tower Surrey British Columbia 2 Properties New Westminster British Columbia

21 Table 7a: Largest Tenants by GLA March 31, 2014 Owned Area of Tenant in Square Feet Properties City Province 4370 Dominion Street Burnaby British Columbia Richmond Place Richmond British Columbia 2261 Keating Cross Road Victoria British Columbia Lansdowne Kamloops British Columbia Intact Financial Corporation 263,214 IBM Corporate Park Calgary Alberta 2450 Girouard Street West Saint-Hyacinthe Quebec Enbridge Pipelines Inc. 248,577 Enbridge Place Edmonton Alberta State Street Trust Company 244,936 State Street Financial Centre Toronto Ontario 18 King Street East Toronto Ontario Winners Merchants International 219,685 1 Property Toronto Ontario 2 Properties Mississauga Ontario TD Canada Trust 217,058 Saskatoon Square Saskatoon Saskatchewan 1914 Hamilton Street Regina Saskatchewan 300, 302 & 304 The East Mall Toronto Ontario 55 King Street West Kitchener Ontario 275 Dundas Street West London Ontario SNC-Lavalin Inc. 209,002 1 Property Yellowknife Northwest Territories 1 Property Calgary Alberta 4 Properties Toronto Ontario Loyalty Management 194,018 AIR MILES Tower Toronto Ontario Newalta Corporation 187,297 3 Properties Calgary Alberta U.S. Bank National Association 185, Foster Street Overland Park Kansas City Dundee Realty Management Corp 173,537 2 Properties Yellowknife Northwest Territories 1 Property Surrey British Columbia 1 Property New Westminster British Columbia 1 Property Richmond British Columbia 2 Properties Saskatoon Saskatchewan 1 Property Regina Saskatchewan 5 Properties Calgary Alberta 2 Properties Edmonton Alberta 6 Properties Toronto Ontario 1 Property Ottawa Ontario 4 Properties Mississauga Ontario 3 Properties Kitchener Ontario 1 Property Windsor Ontario 1 Property Montreal Quebec IBM Canada Ltd. 170,379 IBM Corporate Park Calgary Alberta 100 Gough Road Markham Ontario 5001 Yonge Street Toronto Ontario ATCO Group 168,169 2 Properties Edmonton Alberta

22 Table 7a: Largest Tenants by GLA March 31, 2014 Owned Area of Tenant in Square Feet Properties City Province 700 De la Gauchetiere Street Montreal Quebec AON Canada Inc. 166,609 West The City of Edmonton 160,384 2 Properties Edmonton Alberta Cenovus Energy Inc. 140,605 Rocky Mountain Plaza Calgary Alberta Miller Thomson 137,049 Valleywood Corporate Centre Markham Ontario Accelerator Building Waterloo Kitchener Scotia Plaza Toronto Ontario Daimler Chrysler Canada Inc. 132,500 1 Riverside Drive Windsor Ontario Stantec Consulting Ltd. 131,156 Station Tower Surrey British Columbia 4370 Dominion Street Burnaby British Columbia Market Square Kitchener Ontario 2261 Keating Cross Road Victoria British Columbia Government of NW Territories 126,591 3 Properties Yellowknife Northwest Territories Borell Management 124,795 Scotia Plaza. Toronto Ontario Nautilus Fitness & Raquet Centre 117,893 Market Square Kitchener Ontario 5 Properties Toronto Ontario Conex Rental Corp & Flint Energy 113,801 2 Properties Edmonton Alberta Hatch Optima Ltd 110, th Avenue SW Calgary Alberta International Financial Data 107,490 State Street Financial Centre Toronto Ontario Minacs Worldwide Inc. 103, Airport Road Mississauga Ontario 180 Keil Drive South Chatham Ontario Government of New Brunswick 100,540 2 Properties Fredericton New Brunswick Total 10,908,976

23 Table 7b. Largest Tenants by annualized Gross Rent March 31, 2014 (Includes all tenants where projected annualized gross contract rent exceeds CDN $1,000,000) Rank Tenant Cumulative gross revenue Rank Tenant Cumulative gross revenue $2,500,000 or greater $ 396,144,313 Between $1,000,000 and $2,499,999: $ 108,964, Bank of Nova Scotia 47. National Bank of Canada 2. Government of Canada 48. Conex Rental 3. Government of Ontario 49. BDO Dunwoody 4. Government of Quebec 50. Great West Life Assurance Co 5. Bell Canada 51. CB Richard Ellis Limited 6. Telus 52. Minacs Worldwide Inc. 7. Enbridge Pipelines Inc. 53. Livingston International Inc. 8. Government of Saskatchewan 54. Rogers Communication Inc. 9. State Street Trust Company 55. DBRS 10. Government of Alberta 56. Bereskin & Parr Management 11. Aviva Canada Inc. 57. Gemini Corporation 12. Newalta Corporation 58. Encana Corporation 13. Government of British Columbia 59. Artumas Group 14. Borell Management 60. MCAP Services Corporation 15. Loyalty Management 61. Macquarie Group Limited 16. Dundee Realty Management Corp 62. Agence Metropolitaine de Transport 17. SNC-Lavalin Inc. 63. Raymond James Ltd. 18. Miller Thomson 64. Mark Anthony Group 19. Cenovus Energy 65. Maple Leaf Foods 20. Winners Merchants International 66. Government of New Brunswick 21. Government of NW Territories 67. CGI Group 22. Cassels Brock Blackwell 68. Delcan Corporation 23. ATCO Group 69. Cardinia Real Estate Canada Inc 24. TD Canada Trust 70. Reg. Municipality of Waterloo 25. Daimler Chrysler Canada Inc. 71. Visa Canadaartnership 26. The City of Edmonton 72. AMEC Americas Ltd Energyrganization 27. IBM Canada Ltd. 73. Canadian Western Bank 28. AON Canada Inc. 74. Edward D. Jones & Co. 29. Penn West Energy Trust 75. Ensign Resource Service Group 30. International Financial Data Services 76. International Civil Aviation Organization 31. Hatch Optima Ltd 77. Conexus Credit Union 32. U.S. Bank National Association 78. Gardiner Roberts 33. Intact Financial Corporation 79. Precision Drilling Corp 34. Discovery Parks Holdings Ltd. 80. Air Canada 35. Stantec Consulting Ltd. 81. Toronto Central Community Care 36. Nautilus Fitness & Raquet Centre 82. Johnson Inc. 37. Nissan North America Inc. 83. Care Factor Computer Services 38. Medcan Health Management Inc. 84. Yellow Pages 39. Royal Bank of Canada 85. Worley Parsons Canada Ltd. 40. Co-operators Life Insurance 86. Standard Lands Co Inc. 41. The Art Institute Of Vancouver 87. CAE Professional Services Inc. 42. CIBC 88. Wells Fargo Foothill Canada 43. Sage Software Canada Ltd. 89. Sobeys Capital Incorporated 44. Carswell 90. B.F. Lorenzetti & Associates 45. Bank of Montreal 91. Dutton Brock 46. Transglobe Investment 92. Saskatchewan Telecommunication 93. Exchange Solutions Inc. 94. GCAN Insurance Company 95. Stewart Weir and Co. 96. Bantrel 97. HSBC Bank Canada 98. MKRT Management Corporation 99. Jardine Lloyd Thompson Canada 100. BHP Billiton Diamonds 101. Jacobs Canada Inc IMV Projects Inc Wardrop Engineering Inc MLT Management Inc Nordia Inc Sun Life Assurance Company 107. Ontario Bar Association 108. Family Guidance Group Inc Lafarge Canada Inc Lindt & Sprungli (Canada), Inc 111. The Insurance Institute of Canada 112. Trader Corporation 113. City of Windsor 114. Smart & Biggar Management 115. Technicolor Creatives Services 116. Connor, Clark & Lunn Financial 117. Cambridge Mercantile Corp The Record All tenants with annualized owned rent in excess of $2,500,000: Total annualized owned net rental income $213,516,485 Total annualized owned gross rental income $396,144,313 in square feet (owned share) 11,572,547 Average base rent (PSF) $18.45 Average recoveries (PSF) $15.78 Entire owned portfolio: Total annualized owned net rental income $415,526,632 Total annualized owned gross rental income $781,999,201 Total occupied and committed GLA in square feet 23,127,091 Average base rent (PSF) $17.97 Average recoveries (PSF) $15.85

24 Portfolio Tenant Base (by NAICS codes) March 31, 2014 Sector By GLA By Contract Rent Finance and Insurance 19.5% 21.5% Public Administration 17.8% 17.5% Professional, Scientific and Technical Services 17.0% 17.0% Mining and Oil and Gas Extraction 6.6% 8.2% Information and Cultural Industries 6.0% 5.7% Manufacturing 5.5% 2.8% Administrative & Support,Waste Management & Remediation Services 5.2% 5.1% Real Estate and Rental and Leasing 3.3% 3.7% Retail Trade 3.1% 3.5% Other 15.9% 15.1% Total 100.0% 100.0% Real Estate and Rental and Leasing 3.7% Retail Trade 3.5% Other 15.1% Finance and Insurance 21.5% Administrative & Support,Waste Management & Remediation Services 5.1% Manufacturing 2.8% Public Administration 17.5% Information and Cultural Industries 5.7% Mining and Oil and Gas Extraction 8.2% Professional, Scientific and Technical Services 17.0%