SUPPLEMENTAL INFORMATION PACKAGE FOR THE THREE MONTHS ENDED JUNE 30, 2011

Transcription

1 SUPPLEMENTAL INFORMATION PACKAGE FOR THE THREE MONTHS ENDED JUNE 30, 2011

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 Gross Revenue and by Province. 6 Top 25 Tenants Lease Expiration Schedule... 8 by Age.. 9 Future Earnouts and Developments Committed Earnouts and Developments Mezzanine Loans.. 11 Individual Property Summary.. 12 June 2011 Supplemental Information Package 1

3 General Information Stock Exchange Listing: The Toronto Stock Exchange (TSX) Trading Symbols: Trust Units CWT.UN 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: Al Mawani President and 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 Auditors: 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 June 2011 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 June 30, 2011 Number of properties 126 Number of Walmarts / Supercentres 73 / 41 Number of Walmarts / Supercentres (including shadows) 90 / 49 24,330,341 20,704,022 4,295, % 8.3 years $14.06 $ % 5.86% 5.4 years (in $000s, except for Units and per Unit amounts) Investment properties Total assets Debt 2,665,769 Debt to gross book value (3) 49.8% Interest coverage Equity (book value) 2,429,935 Units outstanding (4) 120,029,292 FFO excluding current income tax (diluted) 5,320,131 5,697, X AFFO (diluted) Payout ratio (5) 95.3% (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 relating to investment properties. (4) Total Units outstanding includes Trust Units and LP Units including LP Units classified as liabilities. (5) Payout ratio is calculated as distributions per Unit divided by adjusted funds from operations per Unit. June 2011 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 June 2011 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 166, , , , ,250 2 nd Quarter 129, , , , ,682 3 rd Quarter 187, , , ,494 4 th Quarter 192, , , ,645 Annual 148, , , , , Market Capitalization Summary Date Total Units Outstanding (1) Share price per Unit Market Capitalization June 30, ,029, ,025,938,451 December 31, ,939, ,686,137,073 December 31, ,662, ,944,411,961 December 31, ,287, ,081,508,767 December 31, ,224, ,258,577,025 (1) Includes Calloway Limited Partnership Classes B and D LP units. June 2011 Supplemental Information Package 5

7 Gross Revenue and by Province June 2011 Supplemental Information Package 6

8 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 Winners Reitmans HBC (1) Sobeys Staples Rona The Brick Cara Restaurants Forzani Group Michaels Dollarama Limited Brands LCBO Shoppers Drug Mart Payless Shoesource Loblaws Bouclair Gap Inc Tim Hortons / Wendy's The Source / Bell Canada Sleep Country Lowe's Total (1) Includes 4 Zellers and 13 Home Outfitters locations. June 2011 Supplemental Information Package 7

9 Lease Expiration Schedule Year of Expiry Number of Stores Monthtomonth 23 80, , , ,397, , ,699, ,611, ,684, ,494, ,422, ,530, ,831, ,594, ,835, ,248, ,223, ,326, ,572, ,019, ,379, ,920, ,604, ,060, ,089, ,380, ,161, ,447, ,049, ,016, ,162, , ,507, , ,155, Beyond 22 1,788, ,612, Vacant , Total 2,367 24,330, ,123, Annualized Base Rent Average Rent psf Weighted Average Lease Expiry by area = 8.3 years. Average Rent per occupied sq. ft. = $ June 2011 Supplemental Information Package 8

10 by Age Age 2002 present 17,357, ,137, Before , Total 24,330,341 Portfolio of high quality, newly developed assets with an average age of 9.1 years and minimal capex requirements. June 2011 Supplemental Information Package 9

11 Future Earnouts and Developments Year Total Income ($000s) Gross Investment / Commitment ($000s) Invested Todate ($000s) Net Investment / Commitment ($000s) Yield / Cap Rate Committed Earnouts , % 1,758 20,785 10,281 10, % 2012 & beyond 269, % 5,243 70,741 28,117 42, % Total Committed Earnouts 354, % 7,001 91,526 38,398 53, % Committed Developments , % 1,972 29,572 22,286 7, % 2012 & beyond 81, % 1,800 22,879 12,582 10, % Total Committed Developments 190, % 3,772 52,451 34,868 17, % Uncommitted Future Developments Earnouts 1,854, % 35, ,567 97, , % Developments 1,894, % 36, , , , % Total Uncommitted Future Developments 3,749, % 71, , , , % Total before Noncash Development Cost 4,295,084 % 82,573 1,134, , , % Noncash Development Cost 65,820 Total 4,295,084 % 82,573 1,134, , , % Committed Earnouts and Developments Executed Leases Total Gross Commitment ($000s) Invested Todate ($000s) Net Commitment ($000s) Yield / Cap Rate Year Income ($000s) , % 3,730 50,357 32,567 17, % 2012 & beyond 350, % 7,043 93,620 40,699 52, % Total Committed Earnouts and Developments 545, % 10, ,977 73,266 70, % June 2011 Supplemental Information Package 10

12 Mezzanine Loans Project Barrie, ON (5) Total Loan Outstanding ($000s) 10, ,805 Committed ($000s) 10, ,135 Maturity Date December 2012 Interest Rate 7.50% 6.96% Option 100% 48% Total upon Completion 160,000 3,322,178 Purchase Option Pitt Meadows, BC 17,670 26,320 October % 50% 417, ,913 Salmon Arm, BC (1) 10,799 15,000 October % 0% 234,688 0 Aurora (South), ON 8,813 18,300 June % 50% 124,300 62, ,000 Caledon (Mayfield), ON 6,940 8,590 December % 50% 152,028 76,014 Caledon (Valleywood), ON 10,309 11,340 December % 50% 135,485 67,743 Innisfil, ON (1, 3) 15,585 26,825 August 2018 Variable 0% 233,000 0 Stoney Creek, ON (5) 11,000 11,000 December % 100% 200, ,000 Toronto (Eastern), ON (1) 20,098 21,680 October % 100% 120,000 60,000 Toronto (Leaside), ON 10,223 15,130 December % 50% 110,000 55,000 Vaughan (7 & 427), ON 40,967 57,000 December % 50% 561, ,891 (2, 5) Montreal (SaintMichel), QC 12,950 12,950 November % 50% 118,070 59,035 SaintLaurent, QC (4) 4,452 22,000 February % 50% 755, ,500 1,607,245 (1) Calloway owns a 50% interest. The mezzanine loan is secured against the remaining 50%. (2) Subject to certain conditions, the interest rate may increase to 10%. (3) Monthly variable rate based on the bankers acceptance rate plus 2.00%. (4) Under negotiations to extend the loan. (5) Loan outstanding amounts exclude accrued interest totaling $1.7M. Note: Of the $74.6M of remaining mezzanine advances available, $30.7M is set aside as interest accrual reserve. June 2011 Supplemental Information Package 11

13 Individual Property Summary Property Location Occupancy NonOwned 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 327, ,586 New Westminster Prince George Surrey West Vernon Subtotal British Columbia New Westminster, BC , ,770 Penticton Power Centre Penticton, BC 201, ,795 Prince George, BC Surrey, BC Vernon, BC , , ,838 2,233, , , ,782 1,266, , , ,247 50, ,264 Walmart, Winners, Staples, Future Shop, Petland, Sport Mart, RBC Walmart Supercentre, Real Canadian Superstore*, Home Hardware* Walmart, Michaels, Lordco Auto Parts, Pier 1 Imports, Reitmans Walmart, Home Depot*, Saveon Foods*, Home Outfitters Walmart, Home Outfitters, Best Buy, Tommy Hilfiger, Bonnie Togs Zellers, Staples, Winners, Petcetera, TD Canada Trust Walmart Supercentre, Home Depot*, Canadian Tire*, Michaels Walmart Supercentre, Dollar Giant, Sleep Country, Reitmans Walmart Supercentre, Rona*, Future Shop, Value Village Alberta Calgary Southeast Crowchild Corner Edmonton Northeast Calgary, AB Calgary, AB 245,980 23, ,758 Edmonton, AB 272, ,925 Lethbridge Lethbridge, AB , ,564 St. Albert St. Albert, AB 249, ,101 Subtotal Alberta ,116, ,348 95,000 91, ,737 Walmart Supercentre, London Drugs, Mark's Work Wearhouse Re/Max, Respiratory Homecare Solutions Inc. Walmart Supercentre, Michaels, Mark's Work Wearhouse, Moores Walmart Supercentre, Home Depot*, Ashley Furniture, Best Buy Walmart Supercentre, Saveon Foods*, Totem*, Sleep Country June 2011 Supplemental Information Package 12

14 Individual Property Summary Property Location Occupancy NonOwned Anchors and Major Tenants Saskatchewan Regina East Regina, SK 370, ,960 Regina North Regina, SK 265, ,339 Saskatoon South Saskatoon, SK 374, ,210 Subtotal Saskatchewan ,010, , ,681 98, ,076 Walmart, Real Canadian Superstore*, Rona*, HomeSense Walmart Supercentre, Sobeys, Mark's Work Wearhouse Walmart Supercentre, Home Depot*, HomeSense, The Brick Manitoba Kenaston Common Winnipeg Southwest Winnipeg West Winnipeg, MB 248,953 98,570 Winnipeg, MB , ,572 Winnipeg, MB 327, , ,000 95,000 75,240 Rona, Costco*, Indigo Books, Golf Town, Petland, HSBC, RBC Walmart, Home Depot*, Safeway, Home Outfitters, HomeSense Walmart, Canadian Tire*, Sobeys, Winners, Value Village, Staples Subtotal Manitoba ,067, , ,240 Ontario Ancaster Aurora North ** Aurora Barrie North Barrie South Bolton Brampton East (I) Brampton East (II) Brampton North Ancaster, ON Aurora, ON Aurora, ON Barrie, ON Barrie, ON Bolton, ON Brampton, ON Brampton, ON , ,030 50, , , , ,432 41, , , , , ,864 Bramport Brampton, ON 119,363 45,674 Brampton, ON , ,610 Brockville Brockville, ON 108,605 51,268 63,500 81, ,332 62, ,370 Walmart Supercentre, Canadian Tire*, Future Shop, Dollar Giant Walmart Supercentre, Rona, Best Buy, Golf Town, Dollarama Canadian Tire*, Winners, Bank of Nova Scotia, Blockbuster Walmart Supercentre, Zehrs*, Old Navy, Bonnie Togs, AdditionElle Walmart, Sobeys, Winners, Michaels, PetSmart, LaZBoy Walmart Supercentre, LCBO, Mark's Work Wearhouse, Reitmans LA Fitness, LCBO, Dollarama, Swiss Chalet, CIBC, Bank of Montreal Rona*, Canadian Tire*, The Beer Store, Kelsey's Walmart Supercentre, The Brick, Winners, Staples Fortinos*, Shoppers Drug Mart Walmart Supercentre*, Real Canadian Superstore*, Home Depot*, Winners, Future Shop June 2011 Supplemental Information Package 13

15 Individual Property Summary Property Location Occupancy NonOwned Anchors and Major Tenants Burlington (Appleby) Burlington, ON 96,199 45,872 LA Fitness, Shoppers Drug Mart, Golf Town, Bank of Montreal Burlington North Burlington, ON 226, , ,663 Walmart Supercentre, Reitmans, Moores, Bank of Nova Scotia Burlington Staples Rexdale Hanover Huntsville Kapuskasing Laurentian Power Centre London East Argyle Mall London North ** London Northwest Markham Woodside (I)** Markham Woodside (II)** Burlington, ON Etobicoke, ON Hanover, ON Huntsville, ON Kapuskasing, ON Kitchener, ON London, ON London, ON London, ON Markham, ON Markham, ON ,225 35,093 19, ,254 65, , , ,094 35, ,806 16,665 30,323 Cambridge (I) Cambridge, ON , ,345 Cambridge (II) Cambridge, ON ,068 Carleton Place Carleton Place, ON 148, ,811 Chatham ** Chatham, ON 139, ,053 Cobourg Cobourg, ON 160, ,634 Leaside East York, ON , ,461 Etobicoke Etobicoke, ON 293, ,703 84,861 61, , , ,469 80,385 Milton WalMart Centre** Milton, ON , ,060 39,720 95, , , , , ,083 78,114 68, , ,262 38, ,400 Home Depot*, Future Shop, Staples, Bad Boy Furniture, Sears Walmart Supercentre, Rona, Best Buy, Staples, Bed Bath & Beyond, Future Shop, Dollarama Home Depot*, Canadian Tire*, 2001 Audio Video, Henry's Photography Walmart Supercentre, Dollarama, Mark's Work Wearhouse, Bulk Barn Walmart Supercentre, Zehrs*, Winners, Mark's Work Wearhouse Walmart Supercentre, Home Depot*, Loblaws*, Swiss Chalet Home Depot*, Winners, Sport Chek, Best Buy, Sobeys, Golf Town Walmart, Home Depot*, Best Buy, Sport Chek, Old Navy Walmart Supercentre*, Dollarama, Bank of Nova Scotia Walmart Supercentre*, Mark's Work Wearhouse, EasyHome Walmart Supercentre, Your Independent Grocer*, Dollar Giant Walmart, Reitmans Zellers, Rona*, Zehrs*, Staples, Home Outfitters, CIBC Walmart, No Frills, Winners, Staples, Sport Chek, GoodLife Fitness Walmart Supercentre, Canadian Tire*, Future Shop, Winners Boston Pizza, Montana's, Bank of Montreal, TD Canada Trust, RBC Home Depot, Winners, Staples, Chapters, Petstuff, Michaels Longo's*, LaZBoy, LCBO Walmart Supercentre*, Canadian Tire*, Staples, Bouclair, RBC June 2011 Supplemental Information Package 14

16 Individual Property Summary Property Location Occupancy NonOwned Anchors and Major Tenants Mississauga (Erin Mills) Mississauga, ON , ,973 Walmart Supercentre, No Frills, GoodLife Fitness Westgate Mississauga, ON 560, , ,000 Walmart Supercentre, Reno Depot, Real Canadian Superstore* Napanee 401 & Weston Power Centre** Orleans Richmond Hill ** Rockland Sarnia Scarborough (1900 Eglinton) Scarborough East (I) Scarborough East (II) St. Catharines West (I) St. Catharines West (II) Napanee, ON North York, ON Orleans, ON Richmond Hill, ON Rockland, ON Sarnia, ON Scarborough, ON Scarborough, ON Scarborough, ON St. Catharines, ON St. Catharines, ON , , , , , , ,141 92, , , ,216 88,649 74,366 Hopedale Mall Oakville, ON , , ,445 Oshawa North Oshawa, ON 499, ,809 Oshawa South ** Ottawa South ** Oshawa, ON 229, ,439 Ottawa, ON 261, ,377 Owen Sound Owen Sound, ON 157, ,963 Pembroke Pembroke, ON 11,247 Pickering Pickering, ON 528, ,644 Renfrew Renfrew, ON 9,471 94, , , , , ,876 35, , , , , ,006 82, , , ,132 Walmart, Dollarama, Mark's Work Wearhouse, EasyHome Real Canadian Superstore*, Canadian Tire, The Brick, Home Outfitters Zellers, Metro, Shoppers Drug Mart, LCBO, CIBC Walmart Supercentre, Canadian Tire*, Home Outfitters, Future Shop, Shoppers Drug Mart Walmart Supercentre, Loblaws, Home Depot*, Future Shop Walmart Supercentre, Lowe's, CIBC, Urban Barn, Moores Walmart Supercentre, Loblaws, Cineplex Odeon, Future Shop Walmart Supercentre, Home Depot*, Penningtons, Dollarama Walmart Supercentre*, Canadian Tire*, Boston Pizza, Reitmans Walmart Supercentre, Sobeys, Canadian Tire*, Toys R Us, Winners Walmart Supercentre*, Canadian Tire*, Mark's Work Wearhouse Walmart Supercentre, Metro, Shoppers Drug Mart Walmart Supercentre, Dollarama, LCBO, Boston Pizza Walmart Supercentre, Winners, PetSmart, Penningtons, Dollarama Walmart Supercentre, Winners, Mark's Work Wearhouse, LCBO Home Depot*, Staples, Sears, Mark's Work Wearhouse, RBC Walmart Supercentre, Cineplex Odeon, LCBO, Reitmans Walmart Supercentre, Real Canadian Superstore*, Canadian Tire*, Home Outfitters, Best Buy The Brick, Michaels, Golf Town, Bouclair, Bulk Barn June 2011 Supplemental Information Package 15

17 Individual Property Summary Property Location Occupancy NonOwned Anchors and Major Tenants St. Thomas Stouffville Toronto Stockyards Westside Mall St. Thomas, ON Stouffville, ON Toronto, ON Toronto, ON , ,311 8, , ,567 69, , & 7 Power Centre Vaughan, ON , ,953 Rutherford Village Shopping Centre Welland Whitby North Whitby Northeast Windsor South Woodbridge ** Woodstock Subtotal Ontario Vaughan, ON ,206 48,890 Vaughan Vaughan, ON 269, ,755 Welland, ON Whitby, ON Whitby, ON Windsor, ON Woodbridge, ON Woodstock, ON , ,699 26, , , ,342 13,152, , , ,121 32, ,448 7,818, , , , ,000 98, , ,073 93,333 5,202,537 Walmart Supercentre, Real Canadian Superstore*, Canadian Tire*, Staples, Dollar Giant 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 Supercentre, Canadian Tire*, Mark's Work Wearhouse Walmart, Real Canadian Superstore*, LCBO, TD Canada Trust Boston Pizza, Bell World, RBC Walmart Supercentre, Part Source, Dollarama, Super Pet, Moores, The Beer Store Canadian Tire*, Fortinos*, Best Buy, Toys R Us, Chapters Walmart Supercentre, Canadian Tire*, Staples, Mark's Work Wearhouse, Reitmans, Dollar Giant Quebec Hull ** Hull, QC 147,658 67, ,717 Walmart, Rona*, Famous Players*, Super C*, Winners, Staples Kirkland Kirkland, QC 207, ,271 Walmart, The Brick Laval East Laval West Laval, QC Laval, QC , , , , ,000 Walmart, Canadian Tire, IGA, Winners, Bouclair, Sports Experts Walmart, Reno Depot, Canadian Tire*, IGA*, Home Outfitters, Bouclair, Archambault Magog Magog, QC 101, ,854 60,000 Walmart, Canadian Tire* Mascouche Mascouche, QC 364, , ,000 Walmart, Rona*, IGA, Home Outfitters, Winners, Staples, Bouclair June 2011 Supplemental Information Package 16

18 Individual Property Summary Property Location Occupancy NonOwned Anchors and Major Tenants Montreal (Decarie) ** Montreal North Place Bourassa Mall Rimouski SaintConstant SaintJean SaintJerome Sherbrooke Valleyfield Victoriaville Montreal, QC Montreal, QC Montreal, QC Rimouski, QC SaintConstant, QC SaintJean, QC SaintJerome, QC Sherbrooke, QC Valleyfield, QC Victoriaville, QC , , , , , , , , ,236 23,214 64, , , , , ,356 44, , , ,000 95,000 80, , , ,519 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*, Winners, Future Shop, SAQ Walmart, Home Depot*, Super C, L Aubainerie Concept Mode Walmart, Maxi*, Mark's Work Wearhouse, TD Canada Trust Walmart*, Home Depot*, IGA, Future Shop, Bouclair, Dollarama Walmart, Home Depot*, Canadian Tire*, Best Buy, The Brick, Mark's Work Wearhouse Walmart, Dollarama, SAQ, Reitmans Walmart*, Home Depot*, Maxi*, Winners Subtotal Quebec ,767,463 2,340,864 1,502,736 New Brunswick Saint John Saint John, NB 271, , ,122 Walmart, Kent*, Canadian Tire*, Winners, Future Shop, CIBC Subtotal New Brunswick 271, , ,122 Nova Scotia Bridgewater Bridgewater, NS ,707 Halifax Bayers Lake Centre Halifax, NS 162,483 35,483 New Minas New Minas, NS ,561 Truro Truro, NS 123, ,329 Subtotal Nova Scotia , , , , ,994 60, ,154 Walmart*, Home Depot*, Canadian Tire*, Staples, Boston Pizza Zellers*, Atlantic Superstore*, Future Shop, Winners, Bouclair, Reitmans, AdditionElle Walmart*, Sport Chek, Mark's Work Wearhouse, Bulk Barn, Bank of Nova Scotia Walmart, Kent*, Stitches, Reitmans, Penningtons June 2011 Supplemental Information Package 17

19 Individual Property Summary Property Location Occupancy NonOwned Anchors and Major Tenants 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 ,971 25, ,159 42, , , , ,001 48, , ,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)*, Goodlife Fitness, Staples, Reitmans, CIBC Shoppers Drug Mart, TD Canada Trust, Bulk Barn Walmart*, Home Depot*, Canadian Tire*, Sobeys, Moores, Staples, Dollarama Walmart, Dominion (Loblaw)*, Winners, Staples, Future Shop, Old Navy, Michaels Subtotal Newfoundland ,015, , ,847 Total Retail Properties ,201,376 14,221,887 9,916,713 Industrial / Office Properties Airtech Centre British Colonial Building Richmond, BC Toronto, ON ,488 17,477 MTU Maintenance, Amre Supply Co., William L. Rutherford, RE/MAX Navigator Limited, Irish Embassy Pubs Inc. Total Industrial / Office Properties ,965 June 2011 Supplemental Information Package 18

20 Individual Property Summary Property Location Occupancy NonOwned Anchors and Major Tenants Retail Development Lands Quesnel Quesnel, BC 82,316 Walmart* Salmon Arm Salmon Arm, BC Walmart (3) Dunnville Dunnville, ON 129,343 Canadian Tire*, Sobeys* Etobicoke (Index) Etobicoke, ON Fort Erie Fort Erie, ON 140,142 Walmart Supercentre*, No Frills* Halton Hills Premium Outlet Halton Hills, ON Innisfil Innisfil, ON Walmart (3) Mississauga (Dixie and Dundas) Centre Toronto (Eastern) Fredericton North Mississauga, ON Toronto, ON Fredericton, NB 234,906 Walmart*, Canadian Tire*, Kent* Total Retail Development Lands 586,707 Total Portfolio ,330,341 14,221,887 10,503,420 * 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, Richmond Hill, Salmon Arm, Toronto (Eastern) 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 ). June 2011 Supplemental Information Package 19