Supplemental Information Package

Transcription

1 Supplemental Information Package For the three months ended March 31, Applewood Crescent, Suite 200 Vaughan, ON, L4K 5X3 Tel: (905) Fax: (905)

2 Index General Information Portfolio Highlights Distribution Reinvestment Plan Distribution History.. 4 Performance of Calloway Units. 5 Average Unit Trading Price 5 Average Daily Volume of Units Traded 5 Market Capitalization Summary 5 Annualized Gross Rental Revenue by Province. 6 by Province. 7 Top 25 Tenants Lease Expiration Schedule... 9 by Age 10 Future Earnouts and Developments Committed Earnouts and Developments Mezzanine Loans.. 12 Individual Property Summary.. 13 March 2010 Supplemental Information Package 1

3 General Information Stock Exchange Listing: The Toronto Stock Exchange (TSX) Trading Symbols: Trust Units CWT.UN 6.00% Convertible Debentures CWT.DB 6.65% Convertible Debentures CWT.DB.A 5.75% Convertible Debentures CWT.DB.B Corporate Office: 700 Applewood Crescent, Suite 200 Vaughan, ON, L4K 5X3 Canada Tel: (905) Fax: (905) Senior Management: Simon Nyilassy President, Chief Executive Officer Bart Munn Chief Financial Officer Rudy Gobin Executive Vice President Asset Management Steve Liew Vice President Finance and Acquisitions Transfer Agent & Registrar: Computershare Share Trust Company of Canada 100 University Avenue, 9 th Floor Toronto, ON, M5J 2Y1 Auditor: PricewaterhouseCoopers LLP 5700 Yonge Street, Suite 1900 Toronto, Ontario, M2M 4K7 Legal Counsel: Shea Nerland Calnan LLP th Avenue SW, Suite 2800 Calgary, AB, T2P 2X6 March 2010 Supplemental Information Package 2

4 Portfolio Highlights Gross leaseable area Total GLA in WalMart anchored centres Future developable area Occupancy Average lease term to maturity Net rental rate (per occupied sq. ft.) Net rental rate excluding anchors (per occupied sq. ft.) Total debt Weighted average interest rate (1) Term mortgages Weighted average contractual interest rate (2) Term mortgages Weighted average maturity Three Months Ended March 31, 2010 Number of properties 127 Number of WalMarts 72 Number of WalMarts (including shadows) 91 22,974,825 19,493,560 4,984, % 9.0 years $13.93 $ % 5.91% 6.2 years (in $000s, except for Units and per Unit amounts) Real estate assets Total assets Debt 2,688,854 Debt to gross book value (3) 53.1% Interest coverage ratio Equity (book value) 1,387,718 Units outstanding (4) 101,607,018 Funds from operations (diluted) Adjusted funds from operations (diluted) Payout ratio (1) Includes convertible debentures and acquisition date fair value adjustments. (2) Excludes acquisition date fair value adjustments. (3) Defined as debt (excluding convertible debentures) divided by total assets plus accumulated amortization of income properties. (4) Total Units outstanding includes LP Units and Trust Units. 4,152,756 4,230, X % March 2010 Supplemental Information Package 3

5 Distribution Reinvestment Plan Unitholders who elect to participate will have their monthly cash distributions automatically reinvested in units of Calloway at a price equal to 97% of the average TSX market price over the 10 business days preceding the monthly distribution date. Calloway s DRIP will be administered by Computershare Trust Company of Canada. Interested unitholders can also obtain an information package and the necessary registration forms from, or direct any inquiries/concerns regarding the DRIP to, Computershare Trust Company of Canada via telephone at or via mail at: c/o Computershare Trust Company of Canada 100 University Avenue, 9 th Floor Toronto, ON, M5J 2Y1 Canada Attention: Dividend Reinvestment Department Distribution History Per unit, paid monthly January February March April May June July August September October November December Total March 2010 Supplemental Information Package 4

6 Performance of Calloway Units Average Unit Trading Price Per unit st Quarter nd Quarter rd Quarter th Quarter YTD / Annual Closing trading price at end of period Average Daily Volume of Units Traded st Quarter 147, , , , ,988 2 nd Quarter 257, , , ,869 3 rd Quarter 277, , , ,682 4 th Quarter 164, , , ,950 Annual 147, , , , , Market Capitalization Summary Date Total Units Outstanding (1) Share price per Unit Market Capitalization March 31, ,970, ,162,796,405 December 31, ,662, ,944,411,961 December 31, ,287, ,081,508,767 December 31, ,224, ,258,577,025 December 31, ,211, ,489,836,765 (1) Includes Calloway Limited Partnership Classes B and D LP units. March 2010 Supplemental Information Package 5

7 Annualized Gross Rental Revenue by Province 58.2% 9.6% 3.4% 3.9% 4.7% 13.7% 1.0% 1.5% 0.6% 3.5% British Columbia Alberta Saskatchewan Manitoba Ontario Quebec New Brunswick Nova Scotia Prince Edward Island Newfoundland March 2010 Supplemental Information Package 6

8 by Province 54.8% 10.1% 4.6% 4.1% 4.4% 14.4% 1.2% 1.6% 0.8% 4.2% British Columbia Alberta Saskatchewan Manitoba Ontario Quebec New Brunswick Nova Scotia Prince Edward Island Newfoundland March 2010 Supplemental Information Package 7

9 Top 25 Tenants Rank Tenant Number of Stores Gross Rental Revenue Remaining Lease Term (years) 1 WalMart Canadian Tire / Mark s Work Wearhouse Best Buy / Future Shop HBC Reitmans Winners Sobeys Rona Staples The Brick Cara Restaurants Forzani Group Michaels Loblaws Limited Brands Payless Shoesource Shoppers Drug Mart LCBO Tim Hortons / Wendy's The Source / Bell Canada Lowe's Sleep Country Metro EB Games Old Navy Total March 2010 Supplemental Information Package 8

10 Lease Expiration Schedule Year of Expiry Number of Stores Monthtomonth 13 35, , , ,798, ,058, ,541, ,033, ,913, ,648, ,178, ,410, ,602, ,369, ,817, ,073, ,302, ,193, ,027, ,311, ,447, ,947, ,433, ,535, ,878, ,766, ,487, ,221, ,853, ,416, ,039, ,010, ,027, , ,542, Beyond 26 1,851, ,407, Vacant , Total 2,260 22,974, ,782, Annualized Base Rent Average Rent psf Weighted Average Lease Expiry by area = 9.0 years. Average Rent per occupied sq. ft. = $ March 2010 Supplemental Information Package 9

11 by Age Age 2002 present 16,071, ,065, Before , Total 22,974,825 Portfolio of high quality, newly developed assets with an average age of 8.0 years and minimal capex requirements. March 2010 Supplemental Information Package 10

12 Future Earnouts and Developments Year Committed Earnouts Total Income ($000s) Gross Investment / Commitment ($000s) Invested Todate ($000s) Net Investment / Commitment ($000s) , % 6,234 84,238 60,153 24, % , % 2,290 31,624 16,797 14, % , % 169 2, , % Total Committed Earnouts 406, % 8, ,111 77,439 40, % Yield / Cap Rate Committed Developments , % 2,829 37,808 20,375 17, % , % 1,235 18,552 8,323 10, % Total Committed Developments 210, % 4,064 56,360 28,698 27, % Uncommitted Future Developments Earnouts 1,260, % 24, ,162 38, , % Developments 761, % 12, ,317 53, , % Total Uncommitted Future Developments 2,022, % 36, ,479 91, , % Total Properties Under Active Developments 2,639, % 49, , , , % Properties Designated for Future Development Earnouts 860, % 11, ,050 45, , % Developments 1,484, % 20, , , , % Total Properties Designated for Future Development 2,344, % 31, , , , % Total before Noncash Development Cost 4,984,939 % 81,331 1,101, , , % Noncash Development Cost 42,745 Total 4,984,939 % 81,331 1,101, , , % Committed Earnouts and Developments Year Executed Leases Total Income ($000s) Gross Commitment ($000s) Invested Todate ($000s) Net Commitment ($000s) , % 9, ,046 80,528 41, % , % 3,525 50,176 25,121 25, % Committed to December 31, , % 12, , ,649 66, % Yield / Cap Rate , % 169 2, , % Total Committed Earnouts and Developments 617, % 12, , ,137 68, % March 2010 Supplemental Information Package 11

13 Mezzanine Loans Project Loan Outstanding ($000s) Committed ($000s) Maturity Date Interest Rate Option Total upon Completion Purchase Option Pitt Meadows, BC 15,330 26,320 October % 50% 425, ,500 Salmon Arm, BC (1) 9,251 15,000 October % 0% 223,000 0 Aurora (South), ON 5,644 18,300 June % 50% 516, ,000 Caledon (Mayfield), ON 6,195 8,590 December % 50% 130,000 65,000 Caledon (Valleywood), ON 9,049 11,340 December % 50% 130,000 65,000 Innisfil, ON (1) 14,734 26,825 August % 0% 530,000 0 Penady (Barrie), ON (2) 11,395 10,000 December % 100% 160, ,000 Penady (Stoney Creek), ON 8,216 11,000 December % 100% 200, ,000 Toronto (Eastern), ON 40,094 45,680 October % 100% 690, ,000 Toronto (Leaside), ON 8,994 15,130 December % 50% 119,000 59,500 Vaughan (7 & 427), ON 32,937 57,000 December % 50% 422, ,000 Montreal (SaintMichel), QC (3) 11,846 12,950 June % 50% 61,000 30,500 SaintLaurent, QC 3,670 22,000 February % 50% 755, ,500 Total 177, , % 53% 4,361,000 2,329,000 (1) Calloway owns a 50% interest. The mezzanine loan is secured against the remaining 50%. (2) Outstanding loan amount includes accrued interest. (3) Subject to certain conditions, the interest rate may increase to 10%. Note: Of the $102.8M of remaining mezzanine advances available, $43.3M is set aside as interest accrual reserve. March 2010 Supplemental Information Package 12

14 Individual Property Summary Property Location Occupancy Owned Rentable Owned Rentable NonOwned Anchor (1) Anchor (1) Anchors and Major Tenants Retail Properties British Columbia Courtenay Courtenay, BC 243, ,642 Cranbrook Cranbrook, BC 136, ,158 Kamloops Kamloops, BC 217, ,609 Langley Langley, BC , ,586 New Westminster Prince George Quesnel (2) Salmon Arm ** (2) Surrey West Vernon Subtotal British Columbia New Westminster, BC , ,770 Penticton Power Centre Penticton, BC 201, ,795 Prince George, BC Quesnel, BC Salmon Arm, BC Surrey, BC Vernon, BC 98.1 n/a n/a , , ,183 2,196, , , ,782 1,234, , , ,247 82,316 50, ,580 WalMart, Winners, Staples, Future Shop, Petland, Sport Mart, RBC WalMart, Real Canadian Superstore*, Home Hardware* WalMart, Michaels, Lordco Auto Parts, Pier 1 Imports WalMart, Home Depot*, Saveon Foods*, Home Outfitters WalMart, Home Outfitters, Best Buy, Petcetera, Tommy Hilfiger Zellers, Staples, Winners, Petcetera, TD Canada Trust WalMart, Home Depot*, Canadian Tire*, Michaels, Petland, RBC WalMart* WalMart (3) WalMart, Dollar Giant, Sleep Country, Reitmans WalMart Supercentre, Rona*, Future Shop, Value Village Alberta Calgary Southeast Crowchild Corner Edmonton Northeast Calgary, AB Calgary, AB ,301 23, ,079 Edmonton, AB , ,718 Lethbridge Lethbridge, AB , ,872 St. Albert St. Albert, AB 249, ,101 Subtotal Alberta ,052, ,770 95,000 91, ,737 WalMart, London Drugs, Mark's Work Wearhouse, Reitmans Re/Max, Respiratory Homecare Solutions Inc. WalMart, Michaels, Mark's Work Wearhouse, Moores, Reitmans WalMart Supercentre, Home Depot*, Ashley Furniture, Moores WalMart Supercentre, Saveon Foods*, Totem*, Sleep Country March 2010 Supplemental Information Package 13

15 Individual Property Summary Property Location Occupancy Owned Rentable Owned Rentable NonOwned Anchor (1) Anchor (1) Anchors and Major Tenants Saskatchewan Regina East Regina, SK 370, ,960 Regina North Regina, SK 228, ,498 Saskatoon South Saskatoon, SK 338, ,209 Subtotal Saskatchewan 937, , ,681 98, ,076 WalMart, Real Canadian Superstore*, Rona*, HomeSense WalMart, IGA, Mark's Work Wearhouse, TD Canada Trust WalMart, Home Depot*, HomeSense, The Brick, Ashley Furniture Manitoba Kenaston Common Winnipeg Southwest Winnipeg West Winnipeg, MB 220,323 98,570 Winnipeg, MB 491, ,572 Winnipeg, MB 287, , ,000 95,000 75,240 Rona, Costco*, Indigo Books, Golf Town, Petland, HSBC, RBC WalMart, Home Depot*, Safeway, Home Outfitters, HomeSense WalMart, Canadian Tire*, IGA, Winners, Shoppers Drug Mart Subtotal Manitoba 999, , ,240 Ontario Ancaster Aurora North ** Aurora Barrie North Barrie South Bolton Ancaster, ON Aurora, ON Aurora, ON Barrie, ON Barrie, ON Bolton, ON , ,299 50, , , , , , , , ,864 Bramport Brampton, ON 117,835 45,674 Brampton East (I) Brampton East (II) Brampton North Brampton, ON 35,777 Brampton, ON 358, ,610 51,268 63,500 81, , , ,332 WalMart Supercentre, Canadian Tire*, Future Shop, Dollar Giant WalMart Supercentre, Rona, Best Buy, TD Canada Trust Canadian Tire*, Winners, Bank of Nova Scotia, Blockbuster WalMart, Zehrs*, Old Navy, Bonnie Togs, AdditionElle, Reitmans WalMart, Sobeys, Winners, Michaels, PetSmart, LaZBoy WalMart Supercentre, Real Canadian Superstore*, L.C.B.O. Loblaws*, L.C.B.O., Dollarama, Swiss Chalet, Bank of Montreal Rona*, Canadian Tire*, The Beer Store, Kelsey's WalMart Supercentre, The Brick, Winners, Staples Brampton, ON 41,535 62,496 Fortinos*, Shoppers Drug Mart March 2010 Supplemental Information Package 14

16 Individual Property Summary Property Location Occupancy Owned Rentable Owned Rentable NonOwned Anchor (1) Anchor (1) Anchors and Major Tenants Brockville Brockville, ON 108, ,370 WalMart Supercentre*, Real Canadian Superstore*, Home Depot* Burlington (Appleby) (2) Burlington North Burlington Staples Dunnville (2) Leaside Etobicoke (Index) (2) Etobicoke Rexdale Fort Erie (2) Burlington, ON Dunnville, ON East York, ON Etobicoke, ON Etobicoke, ON Etobicoke, ON 99.2 Burlington, ON 226, ,127 Burlington, ON 134,238 30,323 Cambridge (I) Cambridge, ON n/a 626, ,345 Cambridge (II) Cambridge, ON 32,068 Carleton Place Carleton Place, ON , ,811 Chatham ** Chatham, ON , ,053 Cobourg Cobourg, ON , ,634 Fort Erie, ON n/a n/a 147, ,847 34,865 63, , , ,060 39,720 95, , , , , , , ,142 WalMart Supercentre, Reitmans, Moores, Bank of Nova Scotia Home Depot*, Future Shop, Staples, Bad Boy Furniture, Sears WalMart Supercentre, Reno Depot, Canadian Tire*, Staples Home Depot*, 2001 Audio Video, Henry's Photography WalMart Supercentre, Dollarama, Mark's Work Wearhouse WalMart Supercentre, Zehrs*, Winners, Mark's Work Wearhouse WalMart Supercentre, Home Depot*, Loblaws*, Swiss Chalet Canadian Tire*, Sobeys* Home Depot*, Sport Chek, Best Buy, Sobeys, L.C.B.O. WalMart, Home Depot*, Best Buy, Sport Chek, Old Navy WalMart Supercentre*, Dollarama, Bank of Nova Scotia WalMart*, No Frills* Halton Hills (2) Halton Hills, ON Hanover Huntsville Hanover, ON Huntsville, ON n/a 19, ,254 84, ,314 68,837 WalMart*, Loblaws*, Mark's Work Wearhouse, EasyHome WalMart Supercentre, Your Independent Grocer*, Dollar Giant Innisfil ** (2) Innisfil, ON n/a WalMart (3) Kapuskasing Kapuskasing, ON 65,592 61,087 WalMart, Reitmans Kenora WalMart Centre Kenora, ON 80,881 80,881 58,496 WalMart, Canadian Tire* Laurentian Power Centre Kitchener, ON n/a 185, ,793 London East Argyle Mall London, ON 353, , ,978 Zellers, Rona*, Zehrs*, Home Outfitters, Staples, CIBC WalMart, No Frills, Winners, Staples, Sport Chek, GoodLife Fitness March 2010 Supplemental Information Package 15

17 Individual Property Summary Property Location Occupancy Owned Rentable Owned Rentable NonOwned Anchor (1) Anchor (1) Anchors and Major Tenants London North ** London, ON , , ,262 WalMart Supercentre, Canadian Tire*, Future Shop, Winners London Northwest Markham Woodside (I)** Markham Woodside (II)** Napanee 401 & Weston Power Centre** Hopedale Mall Orleans Oshawa North Oshawa South ** Ottawa South ** Owen Sound Pembroke Peterborough Home Outfitters Centre London, ON Napanee, ON North York, ON Oakville, ON Orleans, ON Oshawa, ON Pembroke, ON Peterborough, ON ,319 Markham, ON 162,806 80,385 Oshawa, ON Ottawa, ON Owen Sound, ON 109, , , , , , , ,831 11,247 58,355 88,649 74, , , , , , ,963 32, , , , , , , , ,426 82, ,135 Boston Pizza, Montana's, Bank of Montreal, TD Canada Trust, RBC Markham, ON 16,665 38,000 Longo's*, LaZBoy, L.C.B.O. Midland Midland, ON ,594 Milton WalMart Centre** Milton, ON 69,266 Mississauga (Dixie and Dundas) Centre (2) Mississauga, ON n/a Mississauga (Erin Mills) Mississauga, ON , ,973 Westgate Mississauga, ON 555, ,125 Pickering Pickering, ON 528, ,644 Renfrew Renfrew, ON 9,471 Home Depot, Winners, Staples, Chapters, Petstuff, Michaels WalMart Supercentre*, Home Depot*, Mark's Work Wearhouse WalMart Supercentre*, Canadian Tire*, Staples, Bouclair, RBC WalMart Supercentre, No Frills, GoodLife Fitness WalMart, Reno Depot, Real Canadian Superstore*, Toys R Us WalMart, Dollarama, Mark's Work Wearhouse, EasyHome Real Canadian Superstore*, Canadian Tire, The Brick, Home Outfitters Zellers, Dominion (Metro), Shoppers Drug Mart, L.C.B.O., CIBC WalMart Supercentre, Canadian Tire*, Home Outfitters, Future Shop WalMart Supercentre, Loblaws, Home Depot*, Future Shop WalMart Supercentre, Urban Barn, Moores, Reitmans, RBC WalMart, Loblaws, Cineplex Odeon, Future Shop, Winners, Staples WalMart, Home Depot*, Penningtons, Dollarama, Reitmans WalMart*, Canadian Tire*, Boston Pizza, Reitmans Home Outfitters, Jysk Linen 'N Furniture, Boston Pizza WalMart, Sobeys, Canadian Tire*, Toys R Us, Winners, PetSmart WalMart Supercentre*, Canadian Tire*, Mark's Work Wearhouse March 2010 Supplemental Information Package 16

18 Individual Property Summary Property Location Occupancy Owned Rentable Owned Rentable NonOwned Anchor (1) Anchor (1) Anchors and Major Tenants Richmond Hill ** Richmond Hill, ON 136,117 94,458 WalMart, Dominion (Metro), Shoppers Drug Mart Rockland Scarborough (1900 Eglinton) Scarborough East (I) Scarborough East (II) St. Catharines West (I) St. Catharines West (II) Toronto Stockyards Westside Mall 400 & 7 Power Centre Rutherford Village Shopping Centre Vaughan Welland Whitby North Whitby Northeast Windsor South Woodbridge ** Rockland, ON Toronto, ON Toronto, ON Vaughan, ON Vaughan, ON Vaughan, ON Welland, ON Whitby, ON Whitby, ON Windsor, ON Woodbridge, ON ,882 8, , , , , , ,695 26, , , ,890 Scarborough, ON 299, ,477 Scarborough, ON 92,545 Scarborough, ON 281, ,385 St. Catharines, ON 402, ,087 St. Catharines, ON 111,216 35,108 St. Thomas St. Thomas, ON , ,567 Stouffville Stouffville, ON ,834 69, , ,620 48, , , , ,121 32,453 Woodstock Woodstock, ON 256, ,448 Subtotal Ontario ,572,171 7,515, , , , , , ,000 98, , ,073 93,333 6,139,465 WalMart Supercentre, Boston Pizza WalMart Supercentre, Mark's Work Wearhouse, Bank of Montreal Home Depot*, Staples, Sears, Mark's Work Wearhouse, RBC WalMart Supercentre, Cineplex Odeon, L.C.B.O., Reitmans WalMart Supercentre, Real Canadian Superstore*, Canadian Tire* The Brick, Michaels, Golf Town, Bouclair, Bulk Barn WalMart Supercentre, Real Canadian Superstore*, Canadian Tire* WalMart Supercentre*, Canadian Tire, Winners, Staples WalMart*, Bank of Montreal, Citifinancial Canadian Tire, Price Chopper, Shoppers Drug Mart, CIBC The Brick, Home Depot*, Staples, Value Village, GoodLife Fitness Sobeys, Pharma Plus, TD Canada Trust WalMart Supercentre, Future Shop, Home Outfitters WalMart, Canadian Tire*, Mark's Work Wearhouse, Dollar Giant WalMart, Real Canadian Superstore*, L.C.B.O., TD Canada Trust Boston Pizza, Bell World, RBC WalMart, Part Source, Dollarama, Super Pet, Moores, CIBC Canadian Tire*, Fortinos*, Best Buy, Toys R Us, Chapters WalMart Supercentre, Canadian Tire*, Staples March 2010 Supplemental Information Package 17

19 Individual Property Summary Property Location Occupancy Owned Rentable Owned Rentable NonOwned Anchor (1) Anchor (1) Anchors and Major Tenants Quebec Drummondville Drummondville, QC ,186 Hull ** Hull, QC 147,658 67, , ,717 WalMart*, Loblaws*, Mark's Work Wearhouse, Reitmans, CIBC WalMart, Rona*, Famous Players*, Super C*, Winners, Staples Kirkland Kirkland, QC 207, ,271 WalMart, The Brick Laval West Laval, QC 558, , ,000 WalMart, Reno Depot, Canadian Tire*, IGA*, Home Outfitters Magog Magog, QC 101, ,854 60,000 WalMart, Canadian Tire* Mascouche Mascouche, QC 364, ,990 Montreal (Decarie) ** Montreal North Place Bourassa Mall Rimouski SaintConstant SaintJean SaintJerome Sherbrooke Valleyfield Montreal, QC Montreal, QC Montreal, QC Rimouski, QC SaintConstant, QC SaintJean, QC SaintJerome, QC Sherbrooke, QC Valleyfield, QC , , , , , , , , ,236 64, , , , , ,356 44, , , , ,000 95,000 80, , ,000 WalMart, Rona*, IGA, Home Outfitters, Winners, Staples, Bouclair WalMart, Mark's Work Wearhouse, Pier 1 Imports, AdditionElle WalMart, IGA, Winners, Dollarama, Mark's Work Wearhouse Zellers, Super C, Pharmaprix, Bouclair, L'Aubainerie, SAQ, RBC WalMart, Tanguay*, Super C*, Future Shop, Mark's Work Wearhouse WalMart, Home Depot*, Super C, L Aubainerie Concept Mode WalMart, Maxi*, Mark's Work Wearhouse, TD Canada Trust WalMart*, Home Depot*, IGA, Bouclair, Dollarama, TD Canada Trust WalMart, Home Depot*, Canadian Tire*, Mark's Work Wearhouse WalMart, Dollarama, SAQ, Reitmans, Victoriaville Victoriaville, QC 23, ,519 WalMart*, Home Depot*, Maxi* Subtotal Quebec ,301,257 2,030,669 1,747,960 New Brunswick Fredericton North (2) Fredericton, NB Saint John Saint John, NB 271, ,390 Subtotal New Brunswick 271, ,390 n/a 234, , ,028 WalMart*, Canadian Tire*, Kent* WalMart, Kent*, Canadian Tire*, Winners, Future Shop, Sport Chek March 2010 Supplemental Information Package 18

20 Individual Property Summary Property Location Occupancy Owned Rentable Owned Rentable NonOwned Anchor (1) Anchor (1) Anchors and Major Tenants Nova Scotia Bridgewater Bridgewater, NS ,996 Halifax Bayers Lake Centre Halifax, NS 155,397 35,483 New Minas New Minas, NS ,561 Truro Truro, NS 123, ,329 Subtotal Nova Scotia , , , , ,994 60, ,154 WalMart*, Home Depot*, Canadian Tire*, Boston Pizza, Reitmans Zellers*, Atlantic Superstore*, Future Shop, Winners, Reitmans WalMart*, Sport Chek, Mark's Work Wearhouse, Bulk Barn WalMart, Kent*, Stitches, Penningtons Prince Edward Island Charlottetown Charlottetown, PE 188, , ,000 WalMart, Canadian Tire*, Home Depot*, Sobeys*, Michaels Subtotal Prince Edward Island 188, , ,000 Newfoundland Corner Brook Gander Mount Pearl Pearlgate Shopping Centre St. John's Central St. John's East Corner Brook, NL Gander, NL Mount Pearl, NL Mount Pearl, NL St. John's, NL St. John's, NL ,980 25, ,669 42, , , , ,001 47, , ,240 88, , ,854 80,000 WalMart, Canadian Tire*, Dominion (Loblaw)*, Staples, Bulk Barn WalMart*, Penningtons, EasyHome, Bank of Nova Scotia WalMart, Canadian Tire*, Dominion (Loblaw)*, Staples, Reitmans Shoppers Drug Mart, TD Canada Trust WalMart*, Home Depot*, Canadian Tire*, IGA, Petcetera, Moores WalMart, Dominion (Loblaw)*, Winners, Staples, Future Shop Subtotal Newfoundland , , ,847 Total Retail Properties ,845,909 13,454,476 11,416,087 March 2010 Supplemental Information Package 19

21 Individual Property Summary Property Location Occupancy Owned Rentable Owned Rentable NonOwned Anchor (1) Anchor (1) Anchors and Major Tenants Industrial / Office Properties Airtech Centre Richmond, BC 111,488 British Colonial Building Toronto, ON 17,428 MTU Maintenance, Amre Supply Co. Navigator Limited, Irish Embassy Pubs Inc. Total Industrial / Office Properties 128,916 Total Portfolio ,974,825 13,454,476 11,416,087 * Nonowned anchor. ** Calloway interest indicates Calloway s ownership interest (Calloway owns a 44.4% interest in the 401 & Weston Power Centre, a 49.9% interest in Hull, 50% interests in Aurora North, Chatham, Innisfil, London North, Markham Woodside (I), Markham Woodside (II), Milton WalMart Centre, Montreal (Decarie), Oshawa South, Ottawa South, Salmon Arm, Richmond Hill, and Woodbridge ). (1) Anchors are tenants in excess of 30,000 square feet. (2) Development lands. (3) Currently in the development phase (Innisfil and Salmon Arm ). March 2010 Supplemental Information Package 20