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Tj ET Q q 0 0 0 rg BT 77.21 573.30 Td (fir) Tj ET Q q 0 0 0 rg BT 85.88 573.30 Td (s) Tj ET Q q 0 0 0 rg BT 89.67 573.30 Td (t) Tj ET Q q 0 0 0 rg BT 92.90 573.30 Td (c) Tj ET Q q 0 0 0 rg BT 97.05 573.30 Td (apit) Tj ET Q q 0 0 0 rg BT 112.61 573.30 Td (alr) Tj ET Q q 0 0 0 rg BT 123.05 573.30 Td (ealty) Tj ET Q q 0 0 0 rg BT 142.33 573.30 Td (.c) Tj ET Q q 0 0 0 rg BT 149.00 573.30 Td (a.) Tj ET Q BT /F3 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 555.30 Td (All amoun) Tj ET Q q 0 0 0 rg BT 95.10 555.30 Td (ts ar) Tj ET Q q 0 0 0 rg BT 112.77 555.30 Td (e in thousands of Canadian dollar) Tj ET Q q 0 0 0 rg BT 248.16 555.30 Td (s, unless other) Tj ET Q q 0 0 0 rg BT 307.08 555.30 Td (wise not) Tj ET Q q 0 0 0 rg BT 341.44 555.30 Td (ed. His) Tj ET Q q 0 0 0 rg BT 368.78 555.30 Td (t) Tj ET Q q 0 0 0 rg BT 372.03 555.30 Td (oric) Tj ET Q q 0 0 0 rg BT 387.23 555.30 Td (al r) Tj ET Q q 0 0 0 rg BT 399.93 555.30 Td (esults and per) Tj ET Q q 0 0 0 rg BT 457.01 555.30 Td (cen) Tj ET Q q 0 0 0 rg BT 471.38 555.30 Td (t) Tj ET Q q 0 0 0 rg BT 474.61 555.30 Td (ag) Tj ET Q q 0 0 0 rg BT 484.02 555.30 Td (e r) Tj ET Q q 0 0 0 rg BT 494.61 555.30 Td (ela) Tj ET Q q 0 0 0 rg BT 506.58 555.30 Td (tionship) Tj ET Q q 0 0 0 rg BT 539.42 555.30 Td (s ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 543.30 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 543.30 Td (on) Tj ET Q q 0 0 0 rg BT 68.58 543.30 Td (t) Tj ET Q q 0 0 0 rg BT 71.81 543.30 Td (ained in the Compan) Tj ET Q q 0 0 0 rg BT 155.99 543.30 Td (y) Tj ET Q q 0 0 0 rg BT 160.82 543.30 Td () Tj ET Q q 0 0 0 rg BT 162.71 543.30 Td (s unaudit) Tj ET Q q 0 0 0 rg BT 200.22 543.30 Td (ed in) Tj ET Q q 0 0 0 rg BT 220.17 543.30 Td (t) Tj ET Q q 0 0 0 rg BT 223.41 543.30 Td (erim and audit) Tj ET Q q 0 0 0 rg BT 282.81 543.30 Td (ed annual c) Tj ET Q q 0 0 0 rg BT 329.34 543.30 Td (onsolida) Tj ET Q q 0 0 0 rg BT 363.59 543.30 Td (t) Tj ET Q q 0 0 0 rg BT 366.84 543.30 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 419.64 543.30 Td (t) Tj ET Q q 0 0 0 rg BT 422.87 543.30 Td (a) Tj ET Q q 0 0 0 rg BT 427.56 543.30 Td (t) Tj ET Q q 0 0 0 rg BT 430.81 543.30 Td (emen) Tj ET Q q 0 0 0 rg BT 453.91 543.30 Td (ts and MD&A) Tj ET Q q 0 0 0 rg BT 508.37 543.30 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 531.30 Td (including tr) Tj ET Q q 0 0 0 rg BT 99.80 531.30 Td (ends which migh) Tj ET Q q 0 0 0 rg BT 168.05 531.30 Td (t appear) Tj ET Q q 0 0 0 rg BT 201.35 531.30 Td (, should not be t) Tj ET Q q 0 0 0 rg BT 267.46 531.30 Td (ak) Tj ET Q q 0 0 0 rg BT 276.48 531.30 Td (en as indic) Tj ET Q q 0 0 0 rg BT 319.17 531.30 Td (a) Tj ET Q q 0 0 0 rg BT 323.87 531.30 Td (tiv) Tj ET Q q 0 0 0 rg BT 333.93 531.30 Td (e of its futur) Tj ET Q q 0 0 0 rg BT 383.83 531.30 Td (e oper) Tj ET Q q 0 0 0 rg BT 409.85 531.30 Td (a) Tj ET Q q 0 0 0 rg BT 414.55 531.30 Td (tions. The in) Tj ET Q q 0 0 0 rg BT 464.27 531.30 Td (f) Tj ET Q q 0 0 0 rg BT 467.12 531.30 Td (orma) Tj ET Q q 0 0 0 rg BT 488.56 531.30 Td (tion c) Tj ET Q q 0 0 0 rg BT 511.14 531.30 Td (on) Tj ET Q q 0 0 0 rg BT 521.57 531.30 Td (t) Tj ET Q q 0 0 0 rg BT 524.80 531.30 Td (ained ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 519.30 Td (in this MD&A is based on in) Tj ET Q q 0 0 0 rg BT 165.64 519.30 Td (f) Tj ET Q q 0 0 0 rg BT 168.48 519.30 Td (orma) Tj ET Q q 0 0 0 rg BT 189.93 519.30 Td (tion a) Tj ET Q q 0 0 0 rg BT 212.98 519.30 Td (v) Tj ET Q q 0 0 0 rg BT 217.35 519.30 Td (ailable t) Tj ET Q q 0 0 0 rg BT 249.56 519.30 Td (o Manag) Tj ET Q q 0 0 0 rg BT 285.10 519.30 Td (emen) Tj ET Q q 0 0 0 rg BT 308.20 519.30 Td (t, and is da) Tj ET Q q 0 0 0 rg BT 352.29 519.30 Td (t) Tj ET Q q 0 0 0 rg BT 355.53 519.30 Td (ed as of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 389.57 519.30 Td (Ma) Tj ET Q q 0 0 0 rg BT 402.72 519.30 Td (y4, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 439.61 519.30 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 501.30 Td (Fir) Tj ET Q q 0 0 0 rg BT 64.21 501.30 Td (s) Tj ET Q q 0 0 0 rg BT 68.00 501.30 Td (t Capit) Tj ET Q q 0 0 0 rg BT 94.51 501.30 Td (al R) Tj ET Q q 0 0 0 rg BT 109.11 501.30 Td (ealty w) Tj ET Q q 0 0 0 rg BT 138.35 501.30 Td (as inc) Tj ET Q q 0 0 0 rg BT 161.00 501.30 Td (orpor) Tj ET Q q 0 0 0 rg BT 183.57 501.30 Td (a) Tj ET Q q 0 0 0 rg BT 188.27 501.30 Td (t) Tj ET Q q 0 0 0 rg BT 191.51 501.30 Td (ed in No) Tj ET Q q 0 0 0 rg BT 225.49 501.30 Td (v) Tj ET Q q 0 0 0 rg BT 229.91 501.30 Td (ember 1993 and c) Tj ET Q q 0 0 0 rg BT 303.09 501.30 Td (onducts its business dir) Tj ET Q q 0 0 0 rg BT 397.62 501.30 Td (ectly and thr) Tj ET Q q 0 0 0 rg BT 448.75 501.30 Td (ough sub) Tj ET Q q 0 0 0 rg BT 485.87 501.30 Td (sidiaries.) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 472.50 Td (F) Tj ET Q q 0 0 0 rg BT 60.32 472.50 Td (OR) Tj ET Q q 0 0 0 rg BT 77.57 472.50 Td (W) Tj ET Q q 0 0 0 rg BT 89.60 472.50 Td (ARD-L) Tj ET Q q 0 0 0 rg BT 124.75 472.50 Td (OOKING S) Tj ET Q q 0 0 0 rg BT 182.86 472.50 Td (T) Tj ET Q q 0 0 0 rg BT 188.70 472.50 Td (A) Tj ET Q q 0 0 0 rg BT 196.08 472.50 Td (TEMENT AD) Tj ET Q q 0 0 0 rg BT 265.33 472.50 Td (VISOR) Tj ET Q q 0 0 0 rg BT 301.05 472.50 Td (Y) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 454.50 Td (Cert) Tj ET Q q 0 0 0 rg BT 70.64 454.50 Td (ain s) Tj ET Q q 0 0 0 rg BT 89.26 454.50 Td (t) Tj ET Q q 0 0 0 rg BT 92.47 454.50 Td (at) Tj ET Q q 0 0 0 rg BT 100.86 454.50 Td (emen) Tj ET Q q 0 0 0 rg BT 123.36 454.50 Td (ts c) Tj ET Q q 0 0 0 rg BT 136.94 454.50 Td (on) Tj ET Q q 0 0 0 rg BT 147.12 454.50 Td (t) Tj ET Q q 0 0 0 rg BT 150.33 454.50 Td (ained in the Business Over) Tj ET Q q 0 0 0 rg BT 260.52 454.50 Td (vie) Tj ET Q q 0 0 0 rg BT 271.99 454.50 Td (w and Strat) Tj ET Q q 0 0 0 rg BT 318.77 454.50 Td (egy) Tj ET Q q 0 0 0 rg BT 333.45 454.50 Td () Tj ET Q q 0 0 0 rg BT 336.67 454.50 Td (, ) Tj ET Q q 0 0 0 rg BT 345.52 454.50 Td (Outlook and Curren) Tj ET Q q 0 0 0 rg BT 424.64 454.50 Td (t Business E) Tj ET Q q 0 0 0 rg BT 471.78 454.50 Td (n) Tj ET Q q 0 0 0 rg BT 476.75 454.50 Td (vironmen) Tj ET Q q 0 0 0 rg BT 514.93 454.50 Td (t) Tj ET Q q 0 0 0 rg BT 518.63 454.50 Td () Tj ET Q q 0 0 0 rg BT 521.84 454.50 Td (, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 442.50 Td (Business and Operations R) Tj ET Q q 0 0 0 rg BT 164.95 442.50 Td (e) Tj ET Q q 0 0 0 rg BT 169.66 442.50 Td (vie) Tj ET Q q 0 0 0 rg BT 181.13 442.50 Td (w) Tj ET Q q 0 0 0 rg BT 188.57 442.50 Td () Tj ET Q q 0 0 0 rg BT 191.78 442.50 Td (, R) Tj ET Q q 0 0 0 rg BT 205.98 442.50 Td (esults of Operations) Tj ET Q q 0 0 0 rg BT 290.08 442.50 Td (, Capit) Tj ET Q q 0 0 0 rg BT 320.04 442.50 Td (al Structure and Liquidity) Tj ET Q q 0 0 0 rg BT 421.61 442.50 Td () Tj ET Q q 0 0 0 rg BT 424.82 442.50 Td (, Summar) Tj ET Q q 0 0 0 rg BT 467.87 442.50 Td (y of Signific) Tj ET Q q 0 0 0 rg BT 513.88 442.50 Td (an) Tj ET Q q 0 0 0 rg BT 524.07 442.50 Td (t ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 430.50 Td (Ac) Tj ET Q q 0 0 0 rg BT 63.86 430.50 Td (c) Tj ET Q q 0 0 0 rg BT 67.94 430.50 Td (oun) Tj ET Q q 0 0 0 rg BT 83.25 430.50 Td (ting Es) Tj ET Q q 0 0 0 rg BT 110.10 430.50 Td (timat) Tj ET Q q 0 0 0 rg BT 132.04 430.50 Td (es and P) Tj ET Q q 0 0 0 rg BT 165.62 430.50 Td (olicies and Con) Tj ET Q q 0 0 0 rg BT 234.18 430.50 Td (trols and Proc) Tj ET Q q 0 0 0 rg BT 290.04 430.50 Td (edures sections of this MD&A c) Tj ET Q q 0 0 0 rg BT 419.57 430.50 Td (ons) Tj ET Q q 0 0 0 rg BT 433.62 430.50 Td (titut) Tj ET Q q 0 0 0 rg BT 451.00 430.50 Td (e f) Tj ET Q q 0 0 0 rg BT 460.97 430.50 Td (or) Tj ET Q q 0 0 0 rg BT 469.58 430.50 Td (ward-looking ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 418.50 Td (s) Tj ET Q q 0 0 0 rg BT 57.78 418.50 Td (t) Tj ET Q q 0 0 0 rg BT 60.99 418.50 Td (at) Tj ET Q q 0 0 0 rg BT 69.38 418.50 Td (emen) Tj ET Q q 0 0 0 rg BT 91.88 418.50 Td (ts. Other s) Tj ET Q q 0 0 0 rg BT 133.18 418.50 Td (t) Tj ET Q q 0 0 0 rg BT 136.40 418.50 Td (at) Tj ET Q q 0 0 0 rg BT 144.78 418.50 Td (emen) Tj ET Q q 0 0 0 rg BT 167.29 418.50 Td (ts c) Tj ET Q q 0 0 0 rg BT 180.87 418.50 Td (onc) Tj ET Q q 0 0 0 rg BT 195.24 418.50 Td (erning Firs) Tj ET Q q 0 0 0 rg BT 237.52 418.50 Td (t Capit) Tj ET Q q 0 0 0 rg BT 264.14 418.50 Td (al R) Tj ET Q q 0 0 0 rg BT 279.09 418.50 Td (ealty) Tj ET Q q 0 0 0 rg BT 299.42 418.50 Td () Tj ET Q q 0 0 0 rg BT 301.36 418.50 Td (s objectives and s) Tj ET Q q 0 0 0 rg BT 371.61 418.50 Td (trat) Tj ET Q q 0 0 0 rg BT 386.77 418.50 Td (egies and Managemen) Tj ET Q q 0 0 0 rg BT 479.21 418.50 Td (t) Tj ET Q q 0 0 0 rg BT 482.91 418.50 Td () Tj ET Q q 0 0 0 rg BT 484.84 418.50 Td (s belie) Tj ET Q q 0 0 0 rg BT 510.27 418.50 Td (f) Tj ET Q q 0 0 0 rg BT 513.28 418.50 Td (s, plans, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 406.50 Td (es) Tj ET Q q 0 0 0 rg BT 62.55 406.50 Td (timat) Tj ET Q q 0 0 0 rg BT 84.49 406.50 Td (es and in) Tj ET Q q 0 0 0 rg BT 120.45 406.50 Td (t) Tj ET Q q 0 0 0 rg BT 123.69 406.50 Td (en) Tj ET Q q 0 0 0 rg BT 133.51 406.50 Td (tions also c) Tj ET Q q 0 0 0 rg BT 178.38 406.50 Td (ons) Tj ET Q q 0 0 0 rg BT 192.43 406.50 Td (titut) Tj ET Q q 0 0 0 rg BT 209.81 406.50 Td (e f) Tj ET Q q 0 0 0 rg BT 219.77 406.50 Td (or) Tj ET Q q 0 0 0 rg BT 228.38 406.50 Td (ward-looking s) Tj ET Q q 0 0 0 rg BT 288.02 406.50 Td (t) Tj ET Q q 0 0 0 rg BT 291.24 406.50 Td (at) Tj ET Q q 0 0 0 rg BT 299.62 406.50 Td (emen) Tj ET Q q 0 0 0 rg BT 322.13 406.50 Td (ts. F) Tj ET Q q 0 0 0 rg BT 338.59 406.50 Td (or) Tj ET Q q 0 0 0 rg BT 347.20 406.50 Td (ward-looking s) Tj ET Q q 0 0 0 rg BT 406.85 406.50 Td (t) Tj ET Q q 0 0 0 rg BT 410.06 406.50 Td (at) Tj ET Q q 0 0 0 rg BT 418.44 406.50 Td (emen) Tj ET Q q 0 0 0 rg BT 440.95 406.50 Td (ts c) Tj ET Q q 0 0 0 rg BT 454.55 406.50 Td (an generally be ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 394.50 Td (iden) Tj ET Q q 0 0 0 rg BT 71.26 394.50 Td (tified b) Tj ET Q q 0 0 0 rg BT 99.52 394.50 Td (y the e) Tj ET Q q 0 0 0 rg BT 126.35 394.50 Td (xpressions ) Tj ET Q q 0 0 0 rg BT 174.41 394.50 Td (an) Tj ET Q q 0 0 0 rg BT 184.59 394.50 Td (ticipat) Tj ET Q q 0 0 0 rg BT 210.22 394.50 Td (e) Tj ET Q q 0 0 0 rg BT 218.20 394.50 Td (, belie) Tj ET Q q 0 0 0 rg BT 246.36 394.50 Td (ve) Tj ET Q q 0 0 0 rg BT 258.81 394.50 Td (, ) Tj ET Q q 0 0 0 rg BT 267.69 394.50 Td (plan) Tj ET Q q 0 0 0 rg BT 288.62 394.50 Td (, ) Tj ET Q q 0 0 0 rg BT 297.26 394.50 Td (es) Tj ET Q q 0 0 0 rg BT 305.81 394.50 Td (timat) Tj ET Q q 0 0 0 rg BT 327.75 394.50 Td (e) Tj ET Q q 0 0 0 rg BT 335.74 394.50 Td (, ) Tj ET Q q 0 0 0 rg BT 344.62 394.50 Td (project) Tj ET Q q 0 0 0 rg BT 373.35 394.50 Td () Tj ET Q q 0 0 0 rg BT 376.56 394.50 Td (, ) Tj ET Q q 0 0 0 rg BT 385.19 394.50 Td (e) Tj ET Q q 0 0 0 rg BT 389.76 394.50 Td (xpect) Tj ET Q q 0 0 0 rg BT 411.87 394.50 Td () Tj ET Q q 0 0 0 rg BT 415.08 394.50 Td (, in) Tj ET Q q 0 0 0 rg BT 431.36 394.50 Td (t) Tj ET Q q 0 0 0 rg BT 434.60 394.50 Td (end) Tj ET Q q 0 0 0 rg BT 452.87 394.50 Td (, ) Tj ET Q q 0 0 0 rg BT 461.50 394.50 Td (outlook) Tj ET Q q 0 0 0 rg BT 495.45 394.50 Td (, ) Tj ET Q q 0 0 0 rg BT 504.08 394.50 Td (objective) Tj ET Q q 0 0 0 rg BT 543.77 394.50 Td (, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 382.50 Td () Tj ET Q q 0 0 0 rg BT 58.13 382.50 Td (may) Tj ET Q q 0 0 0 rg BT 75.95 382.50 Td () Tj ET Q q 0 0 0 rg BT 79.16 382.50 Td (, will) Tj ET Q q 0 0 0 rg BT 105.35 382.50 Td (, ) Tj ET Q q 0 0 0 rg BT 114.12 382.50 Td (should) Tj ET Q q 0 0 0 rg BT 144.08 382.50 Td (, ) Tj ET Q q 0 0 0 rg BT 152.70 382.50 Td (c) Tj ET Q q 0 0 0 rg BT 156.78 382.50 Td (on) Tj ET Q q 0 0 0 rg BT 166.95 382.50 Td (tinue and similar e) Tj ET Q q 0 0 0 rg BT 245.88 382.50 Td (xpressions. The f) Tj ET Q q 0 0 0 rg BT 312.56 382.50 Td (or) Tj ET Q q 0 0 0 rg BT 321.17 382.50 Td (ward-looking s) Tj ET Q q 0 0 0 rg BT 380.81 382.50 Td (t) Tj ET Q q 0 0 0 rg BT 384.02 382.50 Td (at) Tj ET Q q 0 0 0 rg BT 392.41 382.50 Td (emen) Tj ET Q q 0 0 0 rg BT 414.91 382.50 Td (ts are not his) Tj ET Q q 0 0 0 rg BT 467.12 382.50 Td (t) Tj ET Q q 0 0 0 rg BT 470.35 382.50 Td (oric) Tj ET Q q 0 0 0 rg BT 485.30 382.50 Td (al f) Tj ET Q q 0 0 0 rg BT 497.93 382.50 Td (acts but, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 370.50 Td (rather) Tj ET Q q 0 0 0 rg BT 78.51 370.50 Td (, re) Tj ET Q q 0 0 0 rg BT 91.46 370.50 Td (flect the Compan) Tj ET Q q 0 0 0 rg BT 160.39 370.50 Td (y) Tj ET Q q 0 0 0 rg BT 165.16 370.50 Td () Tj ET Q q 0 0 0 rg BT 167.10 370.50 Td (s curren) Tj ET Q q 0 0 0 rg BT 199.22 370.50 Td (t e) Tj ET Q q 0 0 0 rg BT 209.41 370.50 Td (xpect) Tj ET Q q 0 0 0 rg BT 231.03 370.50 Td (ations regarding future results or e) Tj ET Q q 0 0 0 rg BT 371.85 370.50 Td (ven) Tj ET Q q 0 0 0 rg BT 386.12 370.50 Td (ts and are based on inf) Tj ET Q q 0 0 0 rg BT 478.17 370.50 Td (ormation ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 358.50 Td (curren) Tj ET Q q 0 0 0 rg BT 79.98 358.50 Td (tly available t) Tj ET Q q 0 0 0 rg BT 134.53 358.50 Td (o Managemen) Tj ET Q q 0 0 0 rg BT 193.54 358.50 Td (t. Cert) Tj ET Q q 0 0 0 rg BT 218.32 358.50 Td (ain mat) Tj ET Q q 0 0 0 rg BT 249.45 358.50 Td (erial f) Tj ET Q q 0 0 0 rg BT 272.57 358.50 Td (act) Tj ET Q q 0 0 0 rg BT 285.10 358.50 Td (ors and assump) Tj ET Q q 0 0 0 rg BT 348.58 358.50 Td (tions were applied in pro) Tj ET Q q 0 0 0 rg BT 448.58 358.50 Td (viding these f) Tj ET Q q 0 0 0 rg BT 502.44 358.50 Td (or) Tj ET Q q 0 0 0 rg BT 511.05 358.50 Td (ward-) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 346.50 Td (looking s) Tj ET Q q 0 0 0 rg BT 89.72 346.50 Td (t) Tj ET Q q 0 0 0 rg BT 92.94 346.50 Td (at) Tj ET Q q 0 0 0 rg BT 101.32 346.50 Td (emen) Tj ET Q q 0 0 0 rg BT 123.82 346.50 Td (ts. F) Tj ET Q q 0 0 0 rg BT 140.29 346.50 Td (or) Tj ET Q q 0 0 0 rg BT 148.90 346.50 Td (ward-looking inf) Tj ET Q q 0 0 0 rg BT 215.13 346.50 Td (ormation in) Tj ET Q q 0 0 0 rg BT 262.18 346.50 Td (v) Tj ET Q q 0 0 0 rg BT 266.60 346.50 Td (olves numerous assump) Tj ET Q q 0 0 0 rg BT 363.31 346.50 Td (tions such as ren) Tj ET Q q 0 0 0 rg BT 430.51 346.50 Td (t) Tj ET Q q 0 0 0 rg BT 433.73 346.50 Td (al inc) Tj ET Q q 0 0 0 rg BT 454.94 346.50 Td (ome \(including ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 334.50 Td (assump) Tj ET Q q 0 0 0 rg BT 85.07 334.50 Td (tions on timing of lease-up, de) Tj ET Q q 0 0 0 rg BT 207.35 334.50 Td (velopmen) Tj ET Q q 0 0 0 rg BT 246.88 334.50 Td (t c) Tj ET Q q 0 0 0 rg BT 256.57 334.50 Td (oming online and le) Tj ET Q q 0 0 0 rg BT 336.18 334.50 Td (vels of perc) Tj ET Q q 0 0 0 rg BT 381.75 334.50 Td (en) Tj ET Q q 0 0 0 rg BT 391.57 334.50 Td (t) Tj ET Q q 0 0 0 rg BT 394.78 334.50 Td (age ren) Tj ET Q q 0 0 0 rg BT 425.35 334.50 Td (t\), in) Tj ET Q q 0 0 0 rg BT 443.82 334.50 Td (t) Tj ET Q q 0 0 0 rg BT 447.07 334.50 Td (eres) Tj ET Q q 0 0 0 rg BT 463.82 334.50 Td (t rat) Tj ET Q q 0 0 0 rg BT 481.25 334.50 Td (es, t) Tj ET Q q 0 0 0 rg BT 497.91 334.50 Td (enan) Tj ET Q q 0 0 0 rg BT 518.01 334.50 Td (t ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 322.50 Td (de) Tj ET Q q 0 0 0 rg BT 63.91 322.50 Td (f) Tj ET Q q 0 0 0 rg BT 66.84 322.50 Td (aults, borro) Tj ET Q q 0 0 0 rg BT 113.62 322.50 Td (wing c) Tj ET Q q 0 0 0 rg BT 139.69 322.50 Td (os) Tj ET Q q 0 0 0 rg BT 148.60 322.50 Td (ts \(including the underlying in) Tj ET Q q 0 0 0 rg BT 268.25 322.50 Td (t) Tj ET Q q 0 0 0 rg BT 271.49 322.50 Td (eres) Tj ET Q q 0 0 0 rg BT 288.25 322.50 Td (t rat) Tj ET Q q 0 0 0 rg BT 305.67 322.50 Td (es and credit spreads\), the general availability of c) Tj ET Q q 0 0 0 rg BT 508.50 322.50 Td (apit) Tj ET Q q 0 0 0 rg BT 524.29 322.50 Td (al ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 310.50 Td (and the s) Tj ET Q q 0 0 0 rg BT 90.99 310.50 Td (t) Tj ET Q q 0 0 0 rg BT 94.21 310.50 Td (ability of the c) Tj ET Q q 0 0 0 rg BT 151.52 310.50 Td (apit) Tj ET Q q 0 0 0 rg BT 167.32 310.50 Td (al mark) Tj ET Q q 0 0 0 rg BT 197.71 310.50 Td (e) Tj ET Q q 0 0 0 rg BT 202.43 310.50 Td (ts, amoun) Tj ET Q q 0 0 0 rg BT 242.79 310.50 Td (t of de) Tj ET Q q 0 0 0 rg BT 268.70 310.50 Td (velopmen) Tj ET Q q 0 0 0 rg BT 308.23 310.50 Td (t c) Tj ET Q q 0 0 0 rg BT 317.92 310.50 Td (os) Tj ET Q q 0 0 0 rg BT 326.83 310.50 Td (ts, c) Tj ET Q q 0 0 0 rg BT 342.93 310.50 Td (apit) Tj ET Q q 0 0 0 rg BT 358.72 310.50 Td (al e) Tj ET Q q 0 0 0 rg BT 372.98 310.50 Td (xpenditures, operating c) Tj ET Q q 0 0 0 rg BT 471.04 310.50 Td (os) Tj ET Q q 0 0 0 rg BT 479.95 310.50 Td (ts and c) Tj ET Q q 0 0 0 rg BT 511.21 310.50 Td (orporat) Tj ET Q q 0 0 0 rg BT 541.86 310.50 Td (e ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 298.50 Td (e) Tj ET Q q 0 0 0 rg BT 58.57 298.50 Td (xpenses, le) Tj ET Q q 0 0 0 rg BT 102.28 298.50 Td (vel and timing of ac) Tj ET Q q 0 0 0 rg BT 181.83 298.50 Td (quisitions of inc) Tj ET Q q 0 0 0 rg BT 244.63 298.50 Td (ome-producing properties, number of shares outs) Tj ET Q q 0 0 0 rg BT 444.78 298.50 Td (t) Tj ET Q q 0 0 0 rg BT 447.99 298.50 Td (anding and numerous ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 286.50 Td (other f) Tj ET Q q 0 0 0 rg BT 81.02 286.50 Td (act) Tj ET Q q 0 0 0 rg BT 93.55 286.50 Td (ors. Moreo) Tj ET Q q 0 0 0 rg BT 137.75 286.50 Td (ver) Tj ET Q q 0 0 0 rg BT 149.66 286.50 Td (, the assump) Tj ET Q q 0 0 0 rg BT 201.02 286.50 Td (tions underlying the Compan) Tj ET Q q 0 0 0 rg BT 317.36 286.50 Td (y) Tj ET Q q 0 0 0 rg BT 322.13 286.50 Td () Tj ET Q q 0 0 0 rg BT 324.07 286.50 Td (s f) Tj ET Q q 0 0 0 rg BT 333.15 286.50 Td (or) Tj ET Q q 0 0 0 rg BT 341.76 286.50 Td (ward-looking s) Tj ET Q q 0 0 0 rg BT 401.40 286.50 Td (t) Tj ET Q q 0 0 0 rg BT 404.62 286.50 Td (at) Tj ET Q q 0 0 0 rg BT 413.00 286.50 Td (emen) Tj ET Q q 0 0 0 rg BT 435.50 286.50 Td (ts c) Tj ET Q q 0 0 0 rg BT 449.08 286.50 Td (on) Tj ET Q q 0 0 0 rg BT 459.26 286.50 Td (t) Tj ET Q q 0 0 0 rg BT 462.47 286.50 Td (ained in the ) Tj ET Q q 0 0 0 rg BT 516.55 286.50 Td (Outlook ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 274.50 Td (and Curren) Tj ET Q q 0 0 0 rg BT 98.73 274.50 Td (t Business E) Tj ET Q q 0 0 0 rg BT 145.87 274.50 Td (n) Tj ET Q q 0 0 0 rg BT 150.83 274.50 Td (vironmen) Tj ET Q q 0 0 0 rg BT 189.01 274.50 Td (t) Tj ET Q q 0 0 0 rg BT 192.71 274.50 Td ( section of this MD&A also include that c) Tj ET Q q 0 0 0 rg BT 360.37 274.50 Td (onsumer demand will remain s) Tj ET Q q 0 0 0 rg BT 484.59 274.50 Td (t) Tj ET Q q 0 0 0 rg BT 487.80 274.50 Td (able, and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 262.50 Td (demographic trends will c) Tj ET Q q 0 0 0 rg BT 158.03 262.50 Td (on) Tj ET Q q 0 0 0 rg BT 168.20 262.50 Td (tinue.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 244.50 Td (Managemen) Tj ET Q q 0 0 0 rg BT 105.62 244.50 Td (t belie) Tj ET Q q 0 0 0 rg BT 130.45 244.50 Td (ves that the e) Tj ET Q q 0 0 0 rg BT 185.18 244.50 Td (xpect) Tj ET Q q 0 0 0 rg BT 206.80 244.50 Td (ations re) Tj ET Q q 0 0 0 rg BT 242.20 244.50 Td (flect) Tj ET Q q 0 0 0 rg BT 259.73 244.50 Td (ed in f) Tj ET Q q 0 0 0 rg BT 284.53 244.50 Td (or) Tj ET Q q 0 0 0 rg BT 293.14 244.50 Td (ward-looking s) Tj ET Q q 0 0 0 rg BT 352.78 244.50 Td (t) Tj ET Q q 0 0 0 rg BT 356.00 244.50 Td (at) Tj ET Q q 0 0 0 rg BT 364.38 244.50 Td (emen) Tj ET Q q 0 0 0 rg BT 386.89 244.50 Td (ts are based upon reasonable ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 232.50 Td (assump) Tj ET Q q 0 0 0 rg BT 85.07 232.50 Td (tions; ho) Tj ET Q q 0 0 0 rg BT 120.04 232.50 Td (we) Tj ET Q q 0 0 0 rg BT 131.91 232.50 Td (ver) Tj ET Q q 0 0 0 rg BT 143.81 232.50 Td (, Managemen) Tj ET Q q 0 0 0 rg BT 200.19 232.50 Td (t c) Tj ET Q q 0 0 0 rg BT 209.90 232.50 Td (an give no assuranc) Tj ET Q q 0 0 0 rg BT 289.78 232.50 Td (e that actual results will be c) Tj ET Q q 0 0 0 rg BT 405.13 232.50 Td (onsis) Tj ET Q q 0 0 0 rg BT 425.37 232.50 Td (t) Tj ET Q q 0 0 0 rg BT 428.61 232.50 Td (en) Tj ET Q q 0 0 0 rg BT 438.43 232.50 Td (t with these f) Tj ET Q q 0 0 0 rg BT 491.36 232.50 Td (or) Tj ET Q q 0 0 0 rg BT 499.97 232.50 Td (ward-) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 220.50 Td (looking s) Tj ET Q q 0 0 0 rg BT 89.72 220.50 Td (t) Tj ET Q q 0 0 0 rg BT 92.94 220.50 Td (at) Tj ET Q q 0 0 0 rg BT 101.32 220.50 Td (emen) Tj ET Q q 0 0 0 rg BT 123.82 220.50 Td (ts. These f) Tj ET Q q 0 0 0 rg BT 164.50 220.50 Td (or) Tj ET Q q 0 0 0 rg BT 173.11 220.50 Td (ward-looking s) Tj ET Q q 0 0 0 rg BT 232.75 220.50 Td (t) Tj ET Q q 0 0 0 rg BT 235.96 220.50 Td (at) Tj ET Q q 0 0 0 rg BT 244.35 220.50 Td (emen) Tj ET Q q 0 0 0 rg BT 266.85 220.50 Td (ts are subject t) Tj ET Q q 0 0 0 rg BT 326.30 220.50 Td (o a number of risk) Tj ET Q q 0 0 0 rg BT 399.41 220.50 Td (s and unc) Tj ET Q q 0 0 0 rg BT 437.62 220.50 Td (ert) Tj ET Q q 0 0 0 rg BT 449.04 220.50 Td (ain) Tj ET Q q 0 0 0 rg BT 461.52 220.50 Td (ties that c) Tj ET Q q 0 0 0 rg BT 501.41 220.50 Td (ould c) Tj ET Q q 0 0 0 rg BT 525.48 220.50 Td (ause ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 208.50 Td (actual results or e) Tj ET Q q 0 0 0 rg BT 126.06 208.50 Td (ven) Tj ET Q q 0 0 0 rg BT 140.33 208.50 Td (ts t) Tj ET Q q 0 0 0 rg BT 153.06 208.50 Td (o dif) Tj ET Q q 0 0 0 rg BT 170.97 208.50 Td (f) Tj ET Q q 0 0 0 rg BT 173.86 208.50 Td (er mat) Tj ET Q q 0 0 0 rg BT 200.62 208.50 Td (erially from curren) Tj ET Q q 0 0 0 rg BT 275.34 208.50 Td (t e) Tj ET Q q 0 0 0 rg BT 285.52 208.50 Td (xpect) Tj ET Q q 0 0 0 rg BT 307.14 208.50 Td (ations, including the mat) Tj ET Q q 0 0 0 rg BT 407.71 208.50 Td (t) Tj ET Q q 0 0 0 rg BT 410.95 208.50 Td (ers discussed in the Risk) Tj ET Q q 0 0 0 rg BT 511.38 208.50 Td (s and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 196.50 Td (Unc) Tj ET Q q 0 0 0 rg BT 69.65 196.50 Td (ert) Tj ET Q q 0 0 0 rg BT 81.07 196.50 Td (ain) Tj ET Q q 0 0 0 rg BT 93.55 196.50 Td (ties section of this MD&A and the mat) Tj ET Q q 0 0 0 rg BT 251.80 196.50 Td (t) Tj ET Q q 0 0 0 rg BT 255.04 196.50 Td (ers discussed under Risk F) Tj ET Q q 0 0 0 rg BT 362.94 196.50 Td (act) Tj ET Q q 0 0 0 rg BT 375.47 196.50 Td (ors in the Compan) Tj ET Q q 0 0 0 rg BT 453.10 196.50 Td (y) Tj ET Q q 0 0 0 rg BT 457.87 196.50 Td () Tj ET Q q 0 0 0 rg BT 459.81 196.50 Td (s curren) Tj ET Q q 0 0 0 rg BT 491.93 196.50 Td (t Annual ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 184.50 Td (Inf) Tj ET Q q 0 0 0 rg BT 64.59 184.50 Td (ormation F) Tj ET Q q 0 0 0 rg BT 108.82 184.50 Td (orm from time t) Tj ET Q q 0 0 0 rg BT 173.16 184.50 Td (o time.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 166.50 Td (F) Tj ET Q q 0 0 0 rg BT 58.46 166.50 Td (act) Tj ET Q q 0 0 0 rg BT 70.99 166.50 Td (ors that c) Tj ET Q q 0 0 0 rg BT 109.02 166.50 Td (ould c) Tj ET Q q 0 0 0 rg BT 133.09 166.50 Td (ause actual results or e) Tj ET Q q 0 0 0 rg BT 226.35 166.50 Td (ven) Tj ET Q q 0 0 0 rg BT 240.63 166.50 Td (ts t) Tj ET Q q 0 0 0 rg BT 253.36 166.50 Td (o dif) Tj ET Q q 0 0 0 rg BT 271.27 166.50 Td (f) Tj ET Q q 0 0 0 rg BT 274.16 166.50 Td (er mat) Tj ET Q q 0 0 0 rg BT 300.92 166.50 Td (erially from those e) Tj ET Q q 0 0 0 rg BT 378.79 166.50 Td (xpressed, implied or project) Tj ET Q q 0 0 0 rg BT 490.12 166.50 Td (ed b) Tj ET Q q 0 0 0 rg BT 507.39 166.50 Td (y ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 154.50 Td (f) Tj ET Q q 0 0 0 rg BT 56.93 154.50 Td (or) Tj ET Q q 0 0 0 rg BT 65.54 154.50 Td (ward-looking s) Tj ET Q q 0 0 0 rg BT 125.18 154.50 Td (t) Tj ET Q q 0 0 0 rg BT 128.39 154.50 Td (at) Tj ET Q q 0 0 0 rg BT 136.78 154.50 Td (emen) Tj ET Q q 0 0 0 rg BT 159.28 154.50 Td (ts, in addition t) Tj ET Q q 0 0 0 rg BT 220.10 154.50 Td (o those f) Tj ET Q q 0 0 0 rg BT 254.98 154.50 Td (act) Tj ET Q q 0 0 0 rg BT 267.51 154.50 Td (ors re) Tj ET Q q 0 0 0 rg BT 290.41 154.50 Td (f) Tj ET Q q 0 0 0 rg BT 293.31 154.50 Td (erenc) Tj ET Q q 0 0 0 rg BT 315.52 154.50 Td (ed abo) Tj ET Q q 0 0 0 rg BT 343.07 154.50 Td (ve, include, but are not limit) Tj ET Q q 0 0 0 rg BT 456.19 154.50 Td (ed t) Tj ET Q q 0 0 0 rg BT 471.59 154.50 Td (o: general ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 142.50 Td (ec) Tj ET Q q 0 0 0 rg BT 62.85 142.50 Td (onomic c) Tj ET Q q 0 0 0 rg BT 98.96 142.50 Td (onditions; real property o) Tj ET Q q 0 0 0 rg BT 201.53 142.50 Td (wnership; the availability of a ne) Tj ET Q q 0 0 0 rg BT 333.24 142.50 Td (w c) Tj ET Q q 0 0 0 rg BT 346.73 142.50 Td (ompe) Tj ET Q q 0 0 0 rg BT 369.63 142.50 Td (titive supply of re) Tj ET Q q 0 0 0 rg BT 439.36 142.50 Td (t) Tj ET Q q 0 0 0 rg BT 442.57 142.50 Td (ail properties which may ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 130.50 Td (bec) Tj ET Q q 0 0 0 rg BT 67.99 130.50 Td (ome available either through c) Tj ET Q q 0 0 0 rg BT 191.86 130.50 Td (ons) Tj ET Q q 0 0 0 rg BT 205.91 130.50 Td (truction, lease or sublease; Firs) Tj ET Q q 0 0 0 rg BT 330.71 130.50 Td (t Capit) Tj ET Q q 0 0 0 rg BT 357.33 130.50 Td (al R) Tj ET Q q 0 0 0 rg BT 372.29 130.50 Td (ealty) Tj ET Q q 0 0 0 rg BT 392.62 130.50 Td () Tj ET Q q 0 0 0 rg BT 394.55 130.50 Td (s ability t) Tj ET Q q 0 0 0 rg BT 431.18 130.50 Td (o main) Tj ET Q q 0 0 0 rg BT 458.97 130.50 Td (t) Tj ET Q q 0 0 0 rg BT 462.18 130.50 Td (ain oc) Tj ET Q q 0 0 0 rg BT 486.22 130.50 Td (cupancy and t) Tj ET Q q 0 0 0 rg BT 542.75 130.50 Td (o ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 118.50 Td (lease or re-lease spac) Tj ET Q q 0 0 0 rg BT 140.64 118.50 Td (e at curren) Tj ET Q q 0 0 0 rg BT 184.40 118.50 Td (t or an) Tj ET Q q 0 0 0 rg BT 211.02 118.50 Td (ticipat) Tj ET Q q 0 0 0 rg BT 236.64 118.50 Td (ed ren) Tj ET Q q 0 0 0 rg BT 262.07 118.50 Td (ts; repaymen) Tj ET Q q 0 0 0 rg BT 314.93 118.50 Td (t of indeb) Tj ET Q q 0 0 0 rg BT 353.44 118.50 Td (t) Tj ET Q q 0 0 0 rg BT 356.68 118.50 Td (edness and the availability of deb) Tj ET Q q 0 0 0 rg BT 491.81 118.50 Td (t and equity ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 106.50 Td (financing; changes in in) Tj ET Q q 0 0 0 rg BT 149.14 106.50 Td (t) Tj ET Q q 0 0 0 rg BT 152.38 106.50 Td (eres) Tj ET Q q 0 0 0 rg BT 169.14 106.50 Td (t rat) Tj ET Q q 0 0 0 rg BT 186.56 106.50 Td (es and credit spreads; changes t) Tj ET Q q 0 0 0 rg BT 315.81 106.50 Td (o credit ratings; t) Tj ET Q q 0 0 0 rg BT 385.18 106.50 Td (enan) Tj ET Q q 0 0 0 rg BT 405.28 106.50 Td (t financial dif) Tj ET Q q 0 0 0 rg BT 458.33 106.50 Td (ficulties; de) Tj ET Q q 0 0 0 rg BT 504.43 106.50 Td (f) Tj ET Q q 0 0 0 rg BT 507.36 106.50 Td (aults and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 94.50 Td (bankrup) Tj ET Q q 0 0 0 rg BT 87.64 94.50 Td (t) Tj ET Q q 0 0 0 rg BT 90.88 94.50 Td (cies; the relative illiquidity of real property; une) Tj ET Q q 0 0 0 rg BT 281.52 94.50 Td (xpect) Tj ET Q q 0 0 0 rg BT 303.17 94.50 Td (ed c) Tj ET Q q 0 0 0 rg BT 319.42 94.50 Td (os) Tj ET Q q 0 0 0 rg BT 328.34 94.50 Td (ts or liabilities relat) Tj ET Q q 0 0 0 rg BT 405.87 94.50 Td (ed t) Tj ET Q q 0 0 0 rg BT 421.28 94.50 Td (o ac) Tj ET Q q 0 0 0 rg BT 437.91 94.50 Td (quisitions, de) Tj ET Q q 0 0 0 rg BT 491.09 94.50 Td (velopmen) Tj ET Q q 0 0 0 rg BT 530.62 94.50 Td (t ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 82.50 Td (and c) Tj ET Q q 0 0 0 rg BT 75.76 82.50 Td (ons) Tj ET Q q 0 0 0 rg BT 89.82 82.50 Td (truction; increases in operating c) Tj ET Q q 0 0 0 rg BT 222.09 82.50 Td (os) Tj ET Q q 0 0 0 rg BT 231.00 82.50 Td (ts and property t) Tj ET Q q 0 0 0 rg BT 298.53 82.50 Td (ax) Tj ET Q q 0 0 0 rg BT 307.80 82.50 Td (es; geographic and t) Tj ET Q q 0 0 0 rg BT 390.09 82.50 Td (enan) Tj ET Q q 0 0 0 rg BT 410.19 82.50 Td (t c) Tj ET Q q 0 0 0 rg BT 419.88 82.50 Td (onc) Tj ET Q q 0 0 0 rg BT 434.25 82.50 Td (en) Tj ET Q q 0 0 0 rg BT 444.07 82.50 Td (tration; residen) Tj ET Q q 0 0 0 rg BT 506.19 82.50 Td (tial ) Tj ET Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (5) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 694.50 Td (de) Tj ET Q q 0 0 0 rg BT 63.85 694.50 Td (velopmen) Tj ET Q q 0 0 0 rg BT 103.38 694.50 Td (t, sales and leasing; c) Tj ET Q q 0 0 0 rg BT 189.13 694.50 Td (omplianc) Tj ET Q q 0 0 0 rg BT 226.28 694.50 Td (e with financial c) Tj ET Q q 0 0 0 rg BT 294.51 694.50 Td (o) Tj ET Q q 0 0 0 rg BT 299.60 694.50 Td (venan) Tj ET Q q 0 0 0 rg BT 324.16 694.50 Td (ts; changes in go) Tj ET Q q 0 0 0 rg BT 391.92 694.50 Td (vernmen) Tj ET Q q 0 0 0 rg BT 427.45 694.50 Td (t) Tj ET Q q 0 0 0 rg BT 430.67 694.50 Td (al regulation; en) Tj ET Q q 0 0 0 rg BT 496.88 694.50 Td (vironmen) Tj ET Q q 0 0 0 rg BT 535.06 694.50 Td (t) Tj ET Q q 0 0 0 rg BT 538.28 694.50 Td (al ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 682.50 Td (liability and c) Tj ET Q q 0 0 0 rg BT 107.60 682.50 Td (omplianc) Tj ET Q q 0 0 0 rg BT 144.76 682.50 Td (e c) Tj ET Q q 0 0 0 rg BT 155.87 682.50 Td (os) Tj ET Q q 0 0 0 rg BT 164.78 682.50 Td (ts; une) Tj ET Q q 0 0 0 rg BT 191.81 682.50 Td (xpect) Tj ET Q q 0 0 0 rg BT 213.46 682.50 Td (ed c) Tj ET Q q 0 0 0 rg BT 229.72 682.50 Td (os) Tj ET Q q 0 0 0 rg BT 238.63 682.50 Td (ts or liabilities relat) Tj ET Q q 0 0 0 rg BT 316.16 682.50 Td (ed t) Tj ET Q q 0 0 0 rg BT 331.57 682.50 Td (o dispositions; 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Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 461.70 Td (Fir) Tj ET Q q 0 0 0 rg BT 64.21 461.70 Td (s) Tj ET Q q 0 0 0 rg BT 68.00 461.70 Td (t Capit) Tj ET Q q 0 0 0 rg BT 94.51 461.70 Td (al R) Tj ET Q q 0 0 0 rg BT 109.11 461.70 Td (ealty) Tj ET Q q 0 0 0 rg BT 129.35 461.70 Td () Tj ET Q q 0 0 0 rg BT 131.24 461.70 Td (s primar) Tj ET Q q 0 0 0 rg BT 164.76 461.70 Td (y s) Tj ET Q q 0 0 0 rg BT 175.34 461.70 Td (tr) Tj ET Q q 0 0 0 rg BT 181.97 461.70 Td (a) Tj ET Q q 0 0 0 rg BT 186.67 461.70 Td (t) Tj ET Q q 0 0 0 rg BT 189.91 461.70 Td (egy is the cr) Tj ET Q q 0 0 0 rg BT 238.27 461.70 Td (ea) Tj ET Q q 0 0 0 rg BT 247.95 461.70 Td (tion of v) Tj ET Q q 0 0 0 rg BT 281.33 461.70 Td (alue o) Tj ET Q q 0 0 0 rg BT 306.14 461.70 Td (v) Tj ET Q q 0 0 0 rg BT 310.56 461.70 Td (er the long t) Tj ET Q q 0 0 0 rg BT 360.15 461.70 Td (erm b) Tj ET Q q 0 0 0 rg BT 384.07 461.70 Td (y g) Tj ET Q q 0 0 0 rg BT 395.48 461.70 Td (ener) Tj ET Q q 0 0 0 rg BT 413.97 461.70 Td (a) Tj ET Q q 0 0 0 rg BT 418.66 461.70 Td (ting sus) Tj ET Q q 0 0 0 rg BT 449.49 461.70 Td (t) Tj ET Q q 0 0 0 rg BT 452.72 461.70 Td (ainable gr) Tj ET Q q 0 0 0 rg BT 492.67 461.70 Td (o) Tj ET Q q 0 0 0 rg BT 497.90 461.70 Td (w) Tj ET Q q 0 0 0 rg BT 505.07 461.70 Td (th, c) Tj ET Q q 0 0 0 rg BT 522.57 461.70 Td (ash ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 449.70 Td (flo) Tj ET Q q 0 0 0 rg BT 64.58 449.70 Td (w and c) Tj ET Q q 0 0 0 rg BT 95.69 449.70 Td (apit) Tj ET Q q 0 0 0 rg BT 111.26 449.70 Td (al appr) Tj ET Q q 0 0 0 rg BT 139.26 449.70 Td (ecia) Tj ET Q q 0 0 0 rg BT 155.46 449.70 Td (tion of its shopping cen) Tj ET Q q 0 0 0 rg BT 250.12 449.70 Td (tr) Tj ET Q q 0 0 0 rg BT 256.82 449.70 Td (e portf) Tj ET Q q 0 0 0 rg BT 284.26 449.70 Td (olio. 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) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 401.70 Td ( ) Tj ET Q q 0 0 0 rg BT 63.00 401.70 Td (be f) Tj ET Q q 0 0 0 rg BT 78.33 401.70 Td (ocused and disciplined in acquiring w) Tj ET Q q 0 0 0 rg BT 229.31 401.70 Td (ell-loc) Tj ET Q q 0 0 0 rg BT 253.65 401.70 Td (a) Tj ET Q q 0 0 0 rg BT 258.35 401.70 Td (t) Tj ET Q q 0 0 0 rg BT 261.59 401.70 Td (ed pr) Tj ET Q q 0 0 0 rg BT 282.66 401.70 Td (operties, primarily wher) Tj ET Q q 0 0 0 rg BT 380.35 401.70 Td (e ther) Tj ET Q q 0 0 0 rg BT 404.52 401.70 Td (e ar) Tj ET Q q 0 0 0 rg BT 419.90 401.70 Td (e v) Tj ET Q q 0 0 0 rg BT 431.51 401.70 Td (alue cr) Tj ET Q q 0 0 0 rg BT 458.66 401.70 Td (ea) Tj ET Q q 0 0 0 rg BT 468.34 401.70 Td (tion opportunities, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 389.70 Td (including sit) Tj ET Q q 0 0 0 rg BT 111.54 389.70 Td (es in close pr) Tj ET Q q 0 0 0 rg BT 164.03 389.70 Td (o) Tj ET Q q 0 0 0 rg BT 169.10 389.70 Td (ximity t) Tj ET Q q 0 0 0 rg BT 199.40 389.70 Td (o e) Tj ET Q q 0 0 0 rg BT 211.76 389.70 Td (xis) Tj ET Q q 0 0 0 rg BT 222.18 389.70 Td (ting pr) Tj ET Q q 0 0 0 rg BT 248.63 389.70 Td (operties in the Compan) Tj ET Q q 0 0 0 rg BT 343.77 389.70 Td (y) Tj ET Q q 0 0 0 rg BT 348.60 389.70 Td () Tj ET Q q 0 0 0 rg BT 350.48 389.70 Td (s t) Tj ET Q q 0 0 0 rg BT 359.88 389.70 Td (ar) Tj ET Q q 0 0 0 rg BT 368.02 389.70 Td (g) Tj ET Q q 0 0 0 rg BT 372.64 389.70 Td (e) Tj ET Q q 0 0 0 rg BT 377.57 389.70 Td (t urban mark) Tj ET Q q 0 0 0 rg BT 429.96 389.70 Td (e) Tj ET Q q 0 0 0 rg BT 434.88 389.70 Td (ts;) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 377.70 Td ( ) Tj ET Q q 0 0 0 rg BT 63.00 377.70 Td (pr) Tj ET Q q 0 0 0 rg BT 71.58 377.70 Td (oactiv) Tj ET Q q 0 0 0 rg BT 95.93 377.70 Td (ely manag) Tj ET Q q 0 0 0 rg BT 137.44 377.70 Td (e its e) Tj ET Q q 0 0 0 rg BT 161.32 377.70 Td (xis) Tj ET Q q 0 0 0 rg BT 171.74 377.70 Td (ting shopping cen) Tj ET Q q 0 0 0 rg BT 243.43 377.70 Td (tr) Tj ET Q q 0 0 0 rg BT 250.14 377.70 Td (e portf) Tj ET Q q 0 0 0 rg BT 277.58 377.70 Td (olio t) Tj ET Q q 0 0 0 rg BT 298.23 377.70 Td (o driv) Tj ET Q q 0 0 0 rg BT 321.22 377.70 Td (e r) Tj ET Q q 0 0 0 rg BT 331.81 377.70 Td (en) Tj ET Q q 0 0 0 rg BT 341.95 377.70 Td (t gr) Tj ET Q q 0 0 0 rg BT 355.59 377.70 Td (o) Tj ET Q q 0 0 0 rg BT 360.82 377.70 Td (w) Tj ET Q q 0 0 0 rg BT 367.99 377.70 Td (th;) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 365.70 Td ( ) Tj ET Q q 0 0 0 rg BT 63.00 365.70 Td (incr) Tj ET Q q 0 0 0 rg BT 78.13 365.70 Td (ease e) Tj ET Q q 0 0 0 rg BT 103.93 365.70 Td (f) Tj ET Q q 0 0 0 rg BT 106.89 365.70 Td (ficiency and pr) Tj ET Q q 0 0 0 rg BT 166.14 365.70 Td (oductivity of oper) Tj ET Q q 0 0 0 rg BT 238.11 365.70 Td (a) Tj ET Q q 0 0 0 rg BT 242.81 365.70 Td (tions; and) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 353.70 Td ( ) Tj ET Q q 0 0 0 rg BT 63.00 353.70 Td (main) Tj ET Q q 0 0 0 rg BT 83.23 353.70 Td (t) Tj ET Q q 0 0 0 rg BT 86.46 353.70 Td (ain financial s) Tj ET Q q 0 0 0 rg BT 141.37 353.70 Td (tr) Tj ET Q q 0 0 0 rg BT 148.08 353.70 Td (eng) Tj ET Q q 0 0 0 rg BT 162.86 353.70 Td (th and fle) Tj ET Q q 0 0 0 rg BT 201.46 353.70 Td (xibility t) Tj ET Q q 0 0 0 rg BT 233.61 353.70 Td (o achie) Tj ET Q q 0 0 0 rg BT 262.64 353.70 Td (v) Tj ET Q q 0 0 0 rg BT 267.06 353.70 Td (e a r) Tj ET Q q 0 0 0 rg BT 284.70 353.70 Td (easonable c) Tj ET Q q 0 0 0 rg BT 332.62 353.70 Td (os) Tj ET Q q 0 0 0 rg BT 341.70 353.70 Td (t of c) Tj ET Q q 0 0 0 rg BT 362.04 353.70 Td (apit) Tj ET Q q 0 0 0 rg BT 377.60 353.70 Td (al.) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 330.30 Td (Shopping f) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 106.85 330.30 Td (or E) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 125.82 330.30 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 131.38 330.30 Td (er) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 141.74 330.30 Td (y) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 147.29 330.30 Td (da) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 159.44 330.30 Td (y Lif) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 179.44 330.30 Td (e) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 312.30 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 312.30 Td (y primarily o) Tj ET Q q 0 0 0 rg BT 155.77 312.30 Td (wns, de) Tj ET Q q 0 0 0 rg BT 187.02 312.30 Td (v) Tj ET Q q 0 0 0 rg BT 191.44 312.30 Td (elop) Tj ET Q q 0 0 0 rg BT 209.19 312.30 Td (s and manag) Tj ET Q q 0 0 0 rg BT 260.36 312.30 Td (es pr) Tj ET Q q 0 0 0 rg BT 280.09 312.30 Td (operties tha) Tj ET Q q 0 0 0 rg BT 329.17 312.30 Td (t pr) Tj ET Q q 0 0 0 rg BT 343.36 312.30 Td (o) Tj ET Q q 0 0 0 rg BT 348.59 312.30 Td (vide c) Tj ET Q q 0 0 0 rg BT 372.04 312.30 Td (onsumer) Tj ET Q q 0 0 0 rg BT 408.01 312.30 Td (s with pr) Tj ET Q q 0 0 0 rg BT 443.07 312.30 Td (oducts and ser) Tj ET Q q 0 0 0 rg BT 502.62 312.30 Td (vices tha) Tj ET Q q 0 0 0 rg BT 538.11 312.30 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 300.30 Td (ar) Tj ET Q q 0 0 0 rg BT 62.14 300.30 Td (e c) Tj ET Q q 0 0 0 rg BT 73.53 300.30 Td (onsider) Tj ET Q q 0 0 0 rg BT 103.84 300.30 Td (ed t) Tj ET Q q 0 0 0 rg BT 119.59 300.30 Td (o be daily necessities or non-discr) Tj ET Q q 0 0 0 rg BT 256.28 300.30 Td (e) Tj ET Q q 0 0 0 rg BT 261.20 300.30 Td (tionar) Tj ET Q q 0 0 0 rg BT 285.70 300.30 Td (y e) Tj ET Q q 0 0 0 rg BT 297.31 300.30 Td (xpenditur) Tj ET Q q 0 0 0 rg BT 336.63 300.30 Td (es. Curr) Tj ET Q q 0 0 0 rg BT 367.73 300.30 Td (en) Tj ET Q q 0 0 0 rg BT 377.87 300.30 Td (tly) Tj ET Q q 0 0 0 rg BT 387.33 300.30 Td (, o) Tj ET Q q 0 0 0 rg BT 397.31 300.30 Td (v) Tj ET Q q 0 0 0 rg BT 401.73 300.30 Td (er 80% of the Compan) Tj ET Q q 0 0 0 rg BT 492.13 300.30 Td (y) Tj ET Q q 0 0 0 rg BT 496.96 300.30 Td () Tj ET Q q 0 0 0 rg BT 498.84 300.30 Td (s r) Tj ET Q q 0 0 0 rg BT 508.37 300.30 Td (e) Tj ET Q q 0 0 0 rg BT 513.30 300.30 Td (v) Tj ET Q q 0 0 0 rg BT 517.72 300.30 Td (enues ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 288.30 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 288.30 Td (ome fr) Tj ET Q q 0 0 0 rg BT 85.02 288.30 Td (om t) Tj ET Q q 0 0 0 rg BT 103.79 288.30 Td (enan) Tj ET Q q 0 0 0 rg BT 123.97 288.30 Td (ts who pr) Tj ET Q q 0 0 0 rg BT 162.00 288.30 Td (o) Tj ET Q q 0 0 0 rg BT 167.23 288.30 Td (vide these essen) Tj ET Q q 0 0 0 rg BT 234.20 288.30 Td (tial pr) Tj ET Q q 0 0 0 rg BT 257.76 288.30 Td (oducts and ser) Tj ET Q q 0 0 0 rg BT 317.32 288.30 Td (vices, including supermark) Tj ET Q q 0 0 0 rg BT 424.47 288.30 Td (e) Tj ET Q q 0 0 0 rg BT 429.39 288.30 Td (ts, drugs) Tj ET Q q 0 0 0 rg BT 463.91 288.30 Td (t) Tj ET Q q 0 0 0 rg BT 467.16 288.30 Td (or) Tj ET Q q 0 0 0 rg BT 475.79 288.30 Td (es, bank) Tj ET Q q 0 0 0 rg BT 509.18 288.30 Td (s, liquor ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 276.30 Td (s) Tj ET Q q 0 0 0 rg BT 57.80 276.30 Td (t) Tj ET Q q 0 0 0 rg BT 61.05 276.30 Td (or) Tj ET Q q 0 0 0 rg BT 69.68 276.30 Td (es, na) Tj ET Q q 0 0 0 rg BT 93.27 276.30 Td (tional disc) Tj ET Q q 0 0 0 rg BT 134.40 276.30 Td (oun) Tj ET Q q 0 0 0 rg BT 150.08 276.30 Td (t r) Tj ET Q q 0 0 0 rg BT 159.05 276.30 Td (e) Tj ET Q q 0 0 0 rg BT 163.97 276.30 Td (t) Tj ET Q q 0 0 0 rg BT 167.20 276.30 Td (ailer) Tj ET Q q 0 0 0 rg BT 184.87 276.30 Td (s, r) Tj ET Q q 0 0 0 rg BT 196.89 276.30 Td (es) Tj ET Q q 0 0 0 rg BT 205.67 276.30 Td (t) Tj ET Q q 0 0 0 rg BT 208.89 276.30 Td (aur) Tj ET Q q 0 0 0 rg BT 222.22 276.30 Td (an) Tj ET Q q 0 0 0 rg BT 232.17 276.30 Td (ts, fitness cen) Tj ET Q q 0 0 0 rg BT 287.56 276.30 Td (tr) Tj ET Q q 0 0 0 rg BT 294.26 276.30 Td (es, medic) Tj ET Q q 0 0 0 rg BT 332.56 276.30 Td (al, childc) Tj ET Q q 0 0 0 rg BT 367.88 276.30 Td (ar) Tj ET Q q 0 0 0 rg BT 376.02 276.30 Td (e f) Tj ET Q q 0 0 0 rg BT 386.11 276.30 Td (acilities and other per) Tj ET Q q 0 0 0 rg BT 474.51 276.30 Td (sonal ser) Tj ET Q q 0 0 0 rg BT 510.76 276.30 Td (vices.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 258.30 Td (Manag) Tj ET Q q 0 0 0 rg BT 82.01 258.30 Td (emen) Tj ET Q q 0 0 0 rg BT 105.11 258.30 Td (t look) Tj ET Q q 0 0 0 rg BT 128.01 258.30 Td (s t) Tj ET Q q 0 0 0 rg BT 137.44 258.30 Td (o implemen) Tj ET Q q 0 0 0 rg BT 185.90 258.30 Td (t a specific c) Tj ET Q q 0 0 0 rg BT 235.21 258.30 Td (omplemen) Tj ET Q q 0 0 0 rg BT 279.12 258.30 Td (t) Tj ET Q q 0 0 0 rg BT 282.35 258.30 Td (ar) Tj ET Q q 0 0 0 rg BT 290.67 258.30 Td (y t) Tj ET Q q 0 0 0 rg BT 300.70 258.30 Td (enan) Tj ET Q q 0 0 0 rg BT 320.88 258.30 Td (t of) Tj ET Q q 0 0 0 rg BT 334.72 258.30 Td (f) Tj ET Q q 0 0 0 rg BT 337.53 258.30 Td (ering a) Tj ET Q q 0 0 0 rg BT 365.20 258.30 Td (t each of its pr) Tj ET Q q 0 0 0 rg BT 423.30 258.30 Td (operties t) Tj ET Q q 0 0 0 rg BT 462.33 258.30 Td (o bes) Tj ET Q q 0 0 0 rg BT 483.90 258.30 Td (t ser) Tj ET Q q 0 0 0 rg BT 501.97 258.30 Td (v) Tj ET Q q 0 0 0 rg BT 506.39 258.30 Td (e the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 246.30 Td (needs of the loc) Tj ET Q q 0 0 0 rg BT 118.77 246.30 Td (al c) Tj ET Q q 0 0 0 rg BT 132.26 246.30 Td (ommunity) Tj ET Q q 0 0 0 rg BT 173.53 246.30 Td (. The Compan) Tj ET Q q 0 0 0 rg BT 229.39 246.30 Td (y is highly f) Tj ET Q q 0 0 0 rg BT 274.07 246.30 Td (ocused on ensuring the c) Tj ET Q q 0 0 0 rg BT 375.40 246.30 Td (ompe) Tj ET Q q 0 0 0 rg BT 398.84 246.30 Td (titiv) Tj ET Q q 0 0 0 rg BT 414.55 246.30 Td (e position of its asse) Tj ET Q q 0 0 0 rg BT 496.89 246.30 Td (ts in their ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 234.30 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 234.30 Td (espectiv) Tj ET Q q 0 0 0 rg BT 90.76 234.30 Td (e urban and r) Tj ET Q q 0 0 0 rg BT 145.21 234.30 Td (e) Tj ET Q q 0 0 0 rg BT 150.13 234.30 Td (t) Tj ET Q q 0 0 0 rg BT 153.36 234.30 Td (ail tr) Tj ET Q q 0 0 0 rg BT 171.63 234.30 Td (ade ar) Tj ET Q q 0 0 0 rg BT 197.06 234.30 Td (eas and closely f) Tj ET Q q 0 0 0 rg BT 263.16 234.30 Td (ollo) Tj ET Q q 0 0 0 rg BT 278.26 234.30 Td (w) Tj ET Q q 0 0 0 rg BT 285.32 234.30 Td (s demogr) Tj ET Q q 0 0 0 rg BT 322.97 234.30 Td (aphics and shopping tr) Tj ET Q q 0 0 0 rg BT 414.69 234.30 Td (ends f) Tj ET Q q 0 0 0 rg BT 439.19 234.30 Td (or both g) Tj ET Q q 0 0 0 rg BT 476.24 234.30 Td (oods and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 222.30 Td (ser) Tj ET Q q 0 0 0 rg BT 66.47 222.30 Td (vices.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 204.30 Td (In Manag) Tj ET Q q 0 0 0 rg BT 92.04 204.30 Td (emen) Tj ET Q q 0 0 0 rg BT 115.14 204.30 Td (t) Tj ET Q q 0 0 0 rg BT 118.84 204.30 Td () Tj ET Q q 0 0 0 rg BT 120.72 204.30 Td (s vie) Tj ET Q q 0 0 0 rg BT 138.63 204.30 Td (w) Tj ET Q q 0 0 0 rg BT 144.92 204.30 Td (, shopping cen) Tj ET Q q 0 0 0 rg BT 203.51 204.30 Td (tr) Tj ET Q q 0 0 0 rg BT 210.21 204.30 Td (es and mix) Tj ET Q q 0 0 0 rg BT 253.27 204.30 Td (ed-use pr) Tj ET Q q 0 0 0 rg BT 291.54 204.30 Td (operties loc) Tj ET Q q 0 0 0 rg BT 339.03 204.30 Td (a) Tj ET Q q 0 0 0 rg BT 343.73 204.30 Td (t) Tj ET Q q 0 0 0 rg BT 346.97 204.30 Td (ed in urban mark) Tj ET Q q 0 0 0 rg BT 416.06 204.30 Td (e) Tj ET Q q 0 0 0 rg BT 420.98 204.30 Td (ts with t) Tj ET Q q 0 0 0 rg BT 454.05 204.30 Td (enan) Tj ET Q q 0 0 0 rg BT 474.23 204.30 Td (ts pr) Tj ET Q q 0 0 0 rg BT 492.33 204.30 Td (o) Tj ET Q q 0 0 0 rg BT 497.56 204.30 Td (viding daily ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 192.30 Td (necessities, including non-discr) Tj ET Q q 0 0 0 rg BT 179.82 192.30 Td (e) Tj ET Q q 0 0 0 rg BT 184.74 192.30 Td (tionar) Tj ET Q q 0 0 0 rg BT 209.24 192.30 Td (y ser) Tj ET Q q 0 0 0 rg BT 228.49 192.30 Td (vices and other per) Tj ET Q q 0 0 0 rg BT 306.38 192.30 Td (sonal ser) Tj ET Q q 0 0 0 rg BT 342.63 192.30 Td (vices, will be less sensitiv) Tj ET Q q 0 0 0 rg BT 443.86 192.30 Td (e t) Tj ET Q q 0 0 0 rg BT 454.35 192.30 Td (o both ec) Tj ET Q q 0 0 0 rg BT 492.40 192.30 Td (onomic ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 180.30 Td (cy) Tj ET Q q 0 0 0 rg BT 62.63 180.30 Td (cles and changing r) Tj ET Q q 0 0 0 rg BT 139.96 180.30 Td (e) Tj ET Q q 0 0 0 rg BT 144.88 180.30 Td (t) Tj ET Q q 0 0 0 rg BT 148.11 180.30 Td (ail tr) Tj ET Q q 0 0 0 rg BT 166.46 180.30 Td (ends, thus pr) Tj ET Q q 0 0 0 rg BT 219.21 180.30 Td (o) Tj ET Q q 0 0 0 rg BT 224.44 180.30 Td (viding s) Tj ET Q q 0 0 0 rg BT 254.83 180.30 Td (t) Tj ET Q q 0 0 0 rg BT 258.05 180.30 Td (able and gr) Tj ET Q q 0 0 0 rg BT 303.22 180.30 Td (o) Tj ET Q q 0 0 0 rg BT 308.45 180.30 Td (wing c) Tj ET Q q 0 0 0 rg BT 334.26 180.30 Td (ash flo) Tj ET Q q 0 0 0 rg BT 361.06 180.30 Td (w o) Tj ET Q q 0 0 0 rg BT 375.70 180.30 Td (v) Tj ET Q q 0 0 0 rg BT 380.12 180.30 Td (er the long t) Tj ET Q q 0 0 0 rg BT 429.71 180.30 Td (erm.) Tj ET Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 549.95 56.00 Td (6) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 693.00 Td (Urban F) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 92.98 693.00 Td (ocus) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 678.00 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 678.00 Td (y t) Tj ET Q q 0 0 0 rg BT 115.08 678.00 Td (ar) Tj ET Q q 0 0 0 rg BT 123.22 678.00 Td (g) Tj ET Q q 0 0 0 rg BT 127.85 678.00 Td (e) Tj ET Q q 0 0 0 rg BT 132.77 678.00 Td (ts specific urban mark) Tj ET Q q 0 0 0 rg BT 221.58 678.00 Td (e) Tj ET Q q 0 0 0 rg BT 226.50 678.00 Td (ts in Canada with s) Tj ET Q q 0 0 0 rg BT 302.41 678.00 Td (t) Tj ET Q q 0 0 0 rg BT 305.64 678.00 Td (able and/) Tj ET Q q 0 0 0 rg BT 344.20 678.00 Td (or gr) Tj ET Q q 0 0 0 rg BT 363.25 678.00 Td (o) Tj ET Q q 0 0 0 rg BT 368.49 678.00 Td (wing popula) Tj ET Q q 0 0 0 rg BT 418.18 678.00 Td (tions. Specific) Tj ET Q q 0 0 0 rg BT 473.89 678.00 Td (ally) Tj ET Q q 0 0 0 rg BT 487.08 678.00 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 541.38 678.00 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 666.00 Td (in) Tj ET Q q 0 0 0 rg BT 61.46 666.00 Td (t) Tj ET Q q 0 0 0 rg BT 64.70 666.00 Td (ends t) Tj ET Q q 0 0 0 rg BT 89.61 666.00 Td (o c) Tj ET Q q 0 0 0 rg BT 101.29 666.00 Td (on) Tj ET Q q 0 0 0 rg BT 111.72 666.00 Td (tinue t) Tj ET Q q 0 0 0 rg BT 138.36 666.00 Td (o oper) Tj ET Q q 0 0 0 rg BT 164.68 666.00 Td (a) Tj ET Q q 0 0 0 rg BT 169.38 666.00 Td (t) Tj ET Q q 0 0 0 rg BT 172.62 666.00 Td (e primarily in and ar) Tj ET Q q 0 0 0 rg BT 254.01 666.00 Td (ound its t) Tj ET Q q 0 0 0 rg BT 292.35 666.00 Td (ar) Tj ET Q q 0 0 0 rg BT 300.49 666.00 Td (g) Tj ET Q q 0 0 0 rg BT 305.12 666.00 Td (e) Tj ET Q q 0 0 0 rg BT 310.04 666.00 Td (t urban mark) Tj ET Q q 0 0 0 rg BT 362.44 666.00 Td (e) Tj ET Q q 0 0 0 rg BT 367.36 666.00 Td (ts which include the Gr) Tj ET Q q 0 0 0 rg BT 460.64 666.00 Td (ea) Tj ET Q q 0 0 0 rg BT 470.31 666.00 Td (t) Tj ET Q q 0 0 0 rg BT 473.56 666.00 Td (er T) Tj ET Q q 0 0 0 rg BT 488.26 666.00 Td (or) Tj ET Q q 0 0 0 rg BT 496.86 666.00 Td (on) Tj ET Q q 0 0 0 rg BT 507.30 666.00 Td (t) Tj ET Q q 0 0 0 rg BT 510.55 666.00 Td (o Ar) Tj ET Q q 0 0 0 rg BT 527.22 666.00 Td (ea ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 654.00 Td (\(including the Golden Hor) Tj ET Q q 0 0 0 rg BT 158.41 654.00 Td (seshoe Ar) Tj ET Q q 0 0 0 rg BT 198.11 654.00 Td (ea and London\); Gr) Tj ET Q q 0 0 0 rg BT 275.84 654.00 Td (ea) Tj ET Q q 0 0 0 rg BT 285.51 654.00 Td (t) Tj ET Q q 0 0 0 rg BT 288.76 654.00 Td (er Calg) Tj ET Q q 0 0 0 rg BT 316.42 654.00 Td (ar) Tj ET Q q 0 0 0 rg BT 324.74 654.00 Td (y Ar) Tj ET Q q 0 0 0 rg BT 340.67 654.00 Td (ea; Gr) Tj ET Q q 0 0 0 rg BT 365.04 654.00 Td (ea) Tj ET Q q 0 0 0 rg BT 374.71 654.00 Td (t) Tj ET Q q 0 0 0 rg BT 377.95 654.00 Td (er E) Tj ET Q q 0 0 0 rg BT 393.41 654.00 Td (dmon) Tj ET Q q 0 0 0 rg BT 417.09 654.00 Td (t) Tj ET Q q 0 0 0 rg BT 420.34 654.00 Td (on Ar) Tj ET Q q 0 0 0 rg BT 442.27 654.00 Td (ea; Gr) Tj ET Q q 0 0 0 rg BT 466.63 654.00 Td (ea) Tj ET Q q 0 0 0 rg BT 476.30 654.00 Td (t) Tj ET Q q 0 0 0 rg BT 479.55 654.00 Td (er V) Tj ET Q q 0 0 0 rg BT 495.39 654.00 Td (anc) Tj ET Q q 0 0 0 rg BT 509.58 654.00 Td (ouv) Tj ET Q q 0 0 0 rg BT 524.52 654.00 Td (er ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 642.00 Td (Ar) Tj ET Q q 0 0 0 rg BT 63.14 642.00 Td (ea \(including V) Tj ET Q q 0 0 0 rg BT 122.41 642.00 Td (anc) Tj ET Q q 0 0 0 rg BT 136.60 642.00 Td (ouv) Tj ET Q q 0 0 0 rg BT 151.55 642.00 Td (er Island\); Gr) Tj ET Q q 0 0 0 rg BT 203.93 642.00 Td (ea) Tj ET Q q 0 0 0 rg BT 213.60 642.00 Td (t) Tj ET Q q 0 0 0 rg BT 216.84 642.00 Td (er Mon) Tj ET Q q 0 0 0 rg BT 246.55 642.00 Td (tr) Tj ET Q q 0 0 0 rg BT 253.25 642.00 Td (eal Ar) Tj ET Q q 0 0 0 rg BT 276.71 642.00 Td (ea; Gr) Tj ET Q q 0 0 0 rg BT 301.08 642.00 Td (ea) Tj ET Q q 0 0 0 rg BT 310.75 642.00 Td (t) Tj ET Q q 0 0 0 rg BT 314.00 642.00 Td (er Ot) Tj ET Q q 0 0 0 rg BT 334.55 642.00 Td (t) Tj ET Q q 0 0 0 rg BT 337.77 642.00 Td (a) Tj ET Q q 0 0 0 rg BT 342.50 642.00 Td (w) Tj ET Q q 0 0 0 rg BT 349.53 642.00 Td (a Ar) Tj ET Q q 0 0 0 rg BT 365.72 642.00 Td (ea \(including Ga) Tj ET Q q 0 0 0 rg BT 430.88 642.00 Td (tineau r) Tj ET Q q 0 0 0 rg BT 462.42 642.00 Td (egion\); and Quebec ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 630.00 Td (City) Tj ET Q q 0 0 0 rg BT 68.84 630.00 Td (. Ov) Tj ET Q q 0 0 0 rg BT 84.67 630.00 Td (er ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 95.39 630.00 Td (95%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 112.68 630.00 Td ( of the Compan) Tj ET Q q 0 0 0 rg BT 175.07 630.00 Td (y) Tj ET Q q 0 0 0 rg BT 179.90 630.00 Td () Tj ET Q q 0 0 0 rg BT 181.78 630.00 Td (s annual minimum r) Tj ET Q q 0 0 0 rg BT 262.53 630.00 Td (en) Tj ET Q q 0 0 0 rg BT 272.67 630.00 Td (t is deriv) Tj ET Q q 0 0 0 rg BT 307.17 630.00 Td (ed fr) Tj ET Q q 0 0 0 rg BT 326.04 630.00 Td (om these urban mark) Tj ET Q q 0 0 0 rg BT 413.08 630.00 Td (e) Tj ET Q q 0 0 0 rg BT 418.00 630.00 Td (ts.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 612.00 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 612.00 Td (y has achie) Tj ET Q q 0 0 0 rg BT 149.57 612.00 Td (v) Tj ET Q q 0 0 0 rg BT 153.99 612.00 Td (ed critic) Tj ET Q q 0 0 0 rg BT 186.28 612.00 Td (al mass in its t) Tj ET Q q 0 0 0 rg BT 243.34 612.00 Td (ar) Tj ET Q q 0 0 0 rg BT 251.48 612.00 Td (g) Tj ET Q q 0 0 0 rg BT 256.10 612.00 Td (e) Tj ET Q q 0 0 0 rg BT 261.02 612.00 Td (t mark) Tj ET Q q 0 0 0 rg BT 287.12 612.00 Td (e) Tj ET Q q 0 0 0 rg BT 292.04 612.00 Td (ts, which help) Tj ET Q q 0 0 0 rg BT 348.23 612.00 Td (s g) Tj ET Q q 0 0 0 rg BT 359.02 612.00 Td (ener) Tj ET Q q 0 0 0 rg BT 377.51 612.00 Td (a) Tj ET Q q 0 0 0 rg BT 382.21 612.00 Td (t) Tj ET Q q 0 0 0 rg BT 385.45 612.00 Td (e ec) Tj ET Q q 0 0 0 rg BT 401.81 612.00 Td (onomies of sc) Tj ET Q q 0 0 0 rg BT 457.68 612.00 Td (ale and oper) Tj ET Q q 0 0 0 rg BT 508.35 612.00 Td (a) Tj ET Q q 0 0 0 rg BT 513.04 612.00 Td (ting ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 600.00 Td (s) Tj ET Q q 0 0 0 rg BT 57.73 600.00 Td (yner) Tj ET Q q 0 0 0 rg BT 75.84 600.00 Td (gies, as w) Tj ET Q q 0 0 0 rg BT 114.50 600.00 Td (ell as r) Tj ET Q q 0 0 0 rg BT 140.65 600.00 Td (eal-time loc) Tj ET Q q 0 0 0 rg BT 188.35 600.00 Td (al kno) Tj ET Q q 0 0 0 rg BT 212.73 600.00 Td (wledg) Tj ET Q q 0 0 0 rg BT 237.03 600.00 Td (e of its pr) Tj ET Q q 0 0 0 rg BT 275.25 600.00 Td (operties, t) Tj ET Q q 0 0 0 rg BT 316.76 600.00 Td (enan) Tj ET Q q 0 0 0 rg BT 336.94 600.00 Td (ts, neighbourhoods and the mark) Tj ET Q q 0 0 0 rg BT 471.83 600.00 Td (e) Tj ET Q q 0 0 0 rg BT 476.75 600.00 Td (ts in which it ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 588.00 Td (oper) Tj ET Q q 0 0 0 rg BT 72.78 588.00 Td (a) Tj ET Q q 0 0 0 rg BT 77.48 588.00 Td (t) Tj ET Q q 0 0 0 rg BT 80.72 588.00 Td (es. Within each of these mark) Tj ET Q q 0 0 0 rg BT 201.31 588.00 Td (e) Tj ET Q q 0 0 0 rg BT 206.23 588.00 Td (ts, the Compan) Tj ET Q q 0 0 0 rg BT 267.79 588.00 Td (y o) Tj ET Q q 0 0 0 rg BT 279.82 588.00 Td (wns and t) Tj ET Q q 0 0 0 rg BT 319.18 588.00 Td (ar) Tj ET Q q 0 0 0 rg BT 327.32 588.00 Td (g) Tj ET Q q 0 0 0 rg BT 331.94 588.00 Td (e) Tj ET Q q 0 0 0 rg BT 336.86 588.00 Td (ts w) Tj ET Q q 0 0 0 rg BT 353.44 588.00 Td (ell-loc) Tj ET Q q 0 0 0 rg BT 377.78 588.00 Td (a) Tj ET Q q 0 0 0 rg BT 382.48 588.00 Td (t) Tj ET Q q 0 0 0 rg BT 385.72 588.00 Td (ed pr) Tj ET Q q 0 0 0 rg BT 406.79 588.00 Td (operties with s) Tj ET Q q 0 0 0 rg BT 466.68 588.00 Td (tr) Tj ET Q q 0 0 0 rg BT 473.36 588.00 Td (ong demogr) Tj ET Q q 0 0 0 rg BT 522.33 588.00 Td (aphics ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 576.00 Td (tha) Tj ET Q q 0 0 0 rg BT 67.30 576.00 Td (t Manag) Tj ET Q q 0 0 0 rg BT 100.92 576.00 Td (emen) Tj ET Q q 0 0 0 rg BT 124.02 576.00 Td (t e) Tj ET Q q 0 0 0 rg BT 134.45 576.00 Td (xpects will c) Tj ET Q q 0 0 0 rg BT 183.20 576.00 Td (on) Tj ET Q q 0 0 0 rg BT 193.64 576.00 Td (tinue t) Tj ET Q q 0 0 0 rg BT 220.28 576.00 Td (o g) Tj ET Q q 0 0 0 rg BT 232.44 576.00 Td (e) Tj ET Q q 0 0 0 rg BT 237.36 576.00 Td (t e) Tj ET Q q 0 0 0 rg BT 247.90 576.00 Td (v) Tj ET Q q 0 0 0 rg BT 252.32 576.00 Td (en s) Tj ET Q q 0 0 0 rg BT 268.60 576.00 Td (tr) Tj ET Q q 0 0 0 rg BT 275.28 576.00 Td (ong) Tj ET Q q 0 0 0 rg BT 290.43 576.00 Td (er o) Tj ET Q q 0 0 0 rg BT 306.38 576.00 Td (v) Tj ET Q q 0 0 0 rg BT 310.80 576.00 Td (er time, ther) Tj ET Q q 0 0 0 rg BT 361.82 576.00 Td (e) Tj ET Q q 0 0 0 rg BT 366.71 576.00 Td (f) Tj ET Q q 0 0 0 rg BT 369.55 576.00 Td (or) Tj ET Q q 0 0 0 rg BT 378.18 576.00 Td (e a) Tj ET Q q 0 0 0 rg BT 390.11 576.00 Td (t) Tj ET Q q 0 0 0 rg BT 393.32 576.00 Td (tr) Tj ET Q q 0 0 0 rg BT 399.95 576.00 Td (acting high quality t) Tj ET Q q 0 0 0 rg BT 479.87 576.00 Td (enan) Tj ET Q q 0 0 0 rg BT 500.05 576.00 Td (ts.) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 552.60 Td (R) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 60.58 552.60 Td (eal Es) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 88.71 552.60 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 92.75 552.60 Td (a) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 98.57 552.60 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 102.58 552.60 Td (e In) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 120.80 552.60 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 126.37 552.60 Td (es) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 137.06 552.60 Td (tmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 163.35 552.60 Td (ts) Tj ET Q BT /F6 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 530.40 Td (Ac) Tj ET Q q 0 0 0 rg BT 65.11 530.40 Td (quisitions) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 108.90 530.40 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 515.40 Td (Manag) Tj ET Q q 0 0 0 rg BT 82.01 515.40 Td (emen) Tj ET Q q 0 0 0 rg BT 105.11 515.40 Td (t seek) Tj ET Q q 0 0 0 rg BT 129.03 515.40 Td (s t) Tj ET Q q 0 0 0 rg BT 138.46 515.40 Td (o acquir) Tj ET Q q 0 0 0 rg BT 171.17 515.40 Td (e w) Tj ET Q q 0 0 0 rg BT 185.46 515.40 Td (ell-loc) Tj ET Q q 0 0 0 rg BT 209.81 515.40 Td (a) Tj ET Q q 0 0 0 rg BT 214.50 515.40 Td (t) Tj ET Q q 0 0 0 rg BT 217.75 515.40 Td (ed, high quality r) Tj ET Q q 0 0 0 rg BT 285.88 515.40 Td (e) Tj ET Q q 0 0 0 rg BT 290.80 515.40 Td (t) Tj ET Q q 0 0 0 rg BT 294.03 515.40 Td (ail pr) Tj ET Q q 0 0 0 rg BT 314.25 515.40 Td (operties and sit) Tj ET Q q 0 0 0 rg BT 377.04 515.40 Td (es in the Compan) Tj ET Q q 0 0 0 rg BT 447.54 515.40 Td (y) Tj ET Q q 0 0 0 rg BT 452.37 515.40 Td () Tj ET Q q 0 0 0 rg BT 454.25 515.40 Td (s t) Tj ET Q q 0 0 0 rg BT 463.65 515.40 Td (ar) Tj ET Q q 0 0 0 rg BT 471.79 515.40 Td (g) Tj ET Q q 0 0 0 rg BT 476.42 515.40 Td (e) Tj ET Q q 0 0 0 rg BT 481.34 515.40 Td (t urban mark) Tj ET Q q 0 0 0 rg BT 533.74 515.40 Td (e) Tj ET Q q 0 0 0 rg BT 538.66 515.40 Td (ts. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 503.40 Td (These pr) Tj ET Q q 0 0 0 rg BT 88.83 503.40 Td (operties ar) Tj ET Q q 0 0 0 rg BT 132.75 503.40 Td (e acquir) Tj ET Q q 0 0 0 rg BT 165.17 503.40 Td (ed when the) Tj ET Q q 0 0 0 rg BT 216.07 503.40 Td (y c) Tj ET Q q 0 0 0 rg BT 227.00 503.40 Td (omplemen) Tj ET Q q 0 0 0 rg BT 270.91 503.40 Td (t or add v) Tj ET Q q 0 0 0 rg BT 309.47 503.40 Td (alue t) Tj ET Q q 0 0 0 rg BT 332.30 503.40 Td (o the e) Tj ET Q q 0 0 0 rg BT 360.49 503.40 Td (xis) Tj ET Q q 0 0 0 rg BT 370.92 503.40 Td (ting portf) Tj ET Q q 0 0 0 rg BT 408.99 503.40 Td (olio or pr) Tj ET Q q 0 0 0 rg BT 445.99 503.40 Td (o) Tj ET Q q 0 0 0 rg BT 451.22 503.40 Td (vide opportunity f) Tj ET Q q 0 0 0 rg BT 524.19 503.40 Td (or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 491.40 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 491.40 Td (ede) Tj ET Q q 0 0 0 rg BT 72.51 491.40 Td (v) Tj ET Q q 0 0 0 rg BT 76.93 491.40 Td (elopmen) Tj ET Q q 0 0 0 rg BT 112.85 491.40 Td (t or r) Tj ET Q q 0 0 0 rg BT 132.84 491.40 Td (epositioning. Once the Compan) Tj ET Q q 0 0 0 rg BT 260.65 491.40 Td (y has acquir) Tj ET Q q 0 0 0 rg BT 308.82 491.40 Td (ed a pr) Tj ET Q q 0 0 0 rg BT 336.94 491.40 Td (operty in a specific r) Tj ET Q q 0 0 0 rg BT 418.79 491.40 Td (e) Tj ET Q q 0 0 0 rg BT 423.71 491.40 Td (t) Tj ET Q q 0 0 0 rg BT 426.93 491.40 Td (ail tr) Tj ET Q q 0 0 0 rg BT 445.21 491.40 Td (ade ar) Tj ET Q q 0 0 0 rg BT 470.63 491.40 Td (ea, Manag) Tj ET Q q 0 0 0 rg BT 513.16 491.40 Td (emen) Tj ET Q q 0 0 0 rg BT 536.26 491.40 Td (t will ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 479.40 Td (look t) Tj ET Q q 0 0 0 rg BT 76.90 479.40 Td (o acquir) Tj ET Q q 0 0 0 rg BT 109.61 479.40 Td (e pr) Tj ET Q q 0 0 0 rg BT 125.43 479.40 Td (operties in close pr) Tj ET Q q 0 0 0 rg BT 202.54 479.40 Td (o) Tj ET Q q 0 0 0 rg BT 207.62 479.40 Td (ximity) Tj ET Q q 0 0 0 rg BT 231.74 479.40 Td (. These pr) Tj ET Q q 0 0 0 rg BT 271.36 479.40 Td (operties allo) Tj ET Q q 0 0 0 rg BT 321.75 479.40 Td (w the Compan) Tj ET Q q 0 0 0 rg BT 380.71 479.40 Td (y t) Tj ET Q q 0 0 0 rg BT 390.75 479.40 Td (o pr) Tj ET Q q 0 0 0 rg BT 406.86 479.40 Td (o) Tj ET Q q 0 0 0 rg BT 412.09 479.40 Td (vide ma) Tj ET Q q 0 0 0 rg BT 444.08 479.40 Td (ximum fle) Tj ET Q q 0 0 0 rg BT 484.37 479.40 Td (xibility t) Tj ET Q q 0 0 0 rg BT 516.52 479.40 Td (o its ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 467.40 Td (t) Tj ET Q q 0 0 0 rg BT 57.24 467.40 Td (enan) Tj ET Q q 0 0 0 rg BT 77.42 467.40 Td (t base t) Tj ET Q q 0 0 0 rg BT 107.48 467.40 Td (o mee) Tj ET Q q 0 0 0 rg BT 132.90 467.40 Td (t changing f) Tj ET Q q 0 0 0 rg BT 180.10 467.40 Td (orma) Tj ET Q q 0 0 0 rg BT 201.54 467.40 Td (ts and siz) Tj ET Q q 0 0 0 rg BT 238.56 467.40 Td (e r) Tj ET Q q 0 0 0 rg BT 249.15 467.40 Td (equir) Tj ET Q q 0 0 0 rg BT 270.28 467.40 Td (emen) Tj ET Q q 0 0 0 rg BT 293.38 467.40 Td (ts o) Tj ET Q q 0 0 0 rg BT 308.13 467.40 Td (v) Tj ET Q q 0 0 0 rg BT 312.55 467.40 Td (er the long t) Tj ET Q q 0 0 0 rg BT 362.14 467.40 Td (erm. Adjacen) Tj ET Q q 0 0 0 rg BT 415.97 467.40 Td (t pr) Tj ET Q q 0 0 0 rg BT 430.16 467.40 Td (operties also allo) Tj ET Q q 0 0 0 rg BT 499.08 467.40 Td (w the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 455.40 Td (Compan) Tj ET Q q 0 0 0 rg BT 87.71 455.40 Td (y t) Tj ET Q q 0 0 0 rg BT 97.75 455.40 Td (o e) Tj ET Q q 0 0 0 rg BT 110.10 455.40 Td (xpand or in) Tj ET Q q 0 0 0 rg BT 155.72 455.40 Td (t) Tj ET Q q 0 0 0 rg BT 158.97 455.40 Td (ensif) Tj ET Q q 0 0 0 rg BT 178.50 455.40 Td (y its e) Tj ET Q q 0 0 0 rg BT 201.93 455.40 Td (xis) Tj ET Q q 0 0 0 rg BT 212.35 455.40 Td (ting pr) Tj ET Q q 0 0 0 rg BT 238.80 455.40 Td (operty) Tj ET Q q 0 0 0 rg BT 264.95 455.40 Td (, pr) Tj ET Q q 0 0 0 rg BT 278.29 455.40 Td (o) Tj ET Q q 0 0 0 rg BT 283.52 455.40 Td (viding a be) Tj ET Q q 0 0 0 rg BT 327.33 455.40 Td (t) Tj ET Q q 0 0 0 rg BT 330.53 455.40 Td (t) Tj ET Q q 0 0 0 rg BT 333.78 455.40 Td (er r) Tj ET Q q 0 0 0 rg BT 347.85 455.40 Td (e) Tj ET Q q 0 0 0 rg BT 352.77 455.40 Td (t) Tj ET Q q 0 0 0 rg BT 356.00 455.40 Td (ail pr) Tj ET Q q 0 0 0 rg BT 376.22 455.40 Td (oduct and ser) Tj ET Q q 0 0 0 rg BT 431.87 455.40 Td (vice of) Tj ET Q q 0 0 0 rg BT 458.37 455.40 Td (f) Tj ET Q q 0 0 0 rg BT 461.17 455.40 Td (ering f) Tj ET Q q 0 0 0 rg BT 486.99 455.40 Td (or c) Tj ET Q q 0 0 0 rg BT 502.16 455.40 Td (onsumer) Tj ET Q q 0 0 0 rg BT 538.13 455.40 Td (s. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 443.40 Td (Manag) Tj ET Q q 0 0 0 rg BT 82.01 443.40 Td (emen) Tj ET Q q 0 0 0 rg BT 105.11 443.40 Td (t belie) Tj ET Q q 0 0 0 rg BT 130.46 443.40 Td (v) Tj ET Q q 0 0 0 rg BT 134.88 443.40 Td (es tha) Tj ET Q q 0 0 0 rg BT 159.33 443.40 Td (t its adjacen) Tj ET Q q 0 0 0 rg BT 208.35 443.40 Td (t sit) Tj ET Q q 0 0 0 rg BT 223.41 443.40 Td (e acquisitions r) Tj ET Q q 0 0 0 rg BT 284.37 443.40 Td (esult in a be) Tj ET Q q 0 0 0 rg BT 333.45 443.40 Td (t) Tj ET Q q 0 0 0 rg BT 336.66 443.40 Td (t) Tj ET Q q 0 0 0 rg BT 339.90 443.40 Td (er mix of g) Tj ET Q q 0 0 0 rg BT 382.73 443.40 Td (oods and ser) Tj ET Q q 0 0 0 rg BT 434.72 443.40 Td (vices of) Tj ET Q q 0 0 0 rg BT 465.14 443.40 Td (f) Tj ET Q q 0 0 0 rg BT 467.94 443.40 Td (er) Tj ET Q q 0 0 0 rg BT 476.27 443.40 Td (ed and, ultima) Tj ET Q q 0 0 0 rg BT 534.69 443.40 Td (t) Tj ET Q q 0 0 0 rg BT 537.94 443.40 Td (ely) Tj ET Q q 0 0 0 rg BT 549.02 443.40 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 431.40 Td (a be) Tj ET Q q 0 0 0 rg BT 71.23 431.40 Td (t) Tj ET Q q 0 0 0 rg BT 74.43 431.40 Td (t) Tj ET Q q 0 0 0 rg BT 77.68 431.40 Td (er long-t) Tj ET Q q 0 0 0 rg BT 112.23 431.40 Td (erm r) Tj ET Q q 0 0 0 rg BT 134.30 431.40 Td (e) Tj ET Q q 0 0 0 rg BT 139.22 431.40 Td (turn on in) Tj ET Q q 0 0 0 rg BT 179.00 431.40 Td (v) Tj ET Q q 0 0 0 rg BT 183.41 431.40 Td (es) Tj ET Q q 0 0 0 rg BT 192.19 431.40 Td (tmen) Tj ET Q q 0 0 0 rg BT 213.66 431.40 Td (t, with a lo) Tj ET Q q 0 0 0 rg BT 256.66 431.40 Td (w) Tj ET Q q 0 0 0 rg BT 263.72 431.40 Td (er le) Tj ET Q q 0 0 0 rg BT 281.66 431.40 Td (v) Tj ET Q q 0 0 0 rg BT 286.08 431.40 Td (el of risk.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 409.40 Td (Thr) Tj ET Q q 0 0 0 rg BT 67.45 409.40 Td (ough acquisitions, the Compan) Tj ET Q q 0 0 0 rg BT 192.61 409.40 Td (y e) Tj ET Q q 0 0 0 rg BT 204.22 409.40 Td (xpands its pr) Tj ET Q q 0 0 0 rg BT 255.70 409.40 Td (esence in its t) Tj ET Q q 0 0 0 rg BT 311.14 409.40 Td (ar) Tj ET Q q 0 0 0 rg BT 319.28 409.40 Td (g) Tj ET Q q 0 0 0 rg BT 323.90 409.40 Td (e) Tj ET Q q 0 0 0 rg BT 328.82 409.40 Td (t urban mark) Tj ET Q q 0 0 0 rg BT 381.22 409.40 Td (e) Tj ET Q q 0 0 0 rg BT 386.14 409.40 Td (ts in Canada, and c) Tj ET Q q 0 0 0 rg BT 462.14 409.40 Td (on) Tj ET Q q 0 0 0 rg BT 472.58 409.40 Td (tinues t) Tj ET Q q 0 0 0 rg BT 503.13 409.40 Td (o g) Tj ET Q q 0 0 0 rg BT 515.29 409.40 Td (ener) Tj ET Q q 0 0 0 rg BT 533.78 409.40 Td (a) Tj ET Q q 0 0 0 rg BT 538.47 409.40 Td (t) Tj ET Q q 0 0 0 rg BT 541.71 409.40 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 397.40 Td (gr) Tj ET Q q 0 0 0 rg BT 62.06 397.40 Td (ea) Tj ET Q q 0 0 0 rg BT 71.73 397.40 Td (t) Tj ET Q q 0 0 0 rg BT 74.98 397.40 Td (er ec) Tj ET Q q 0 0 0 rg BT 94.82 397.40 Td (onomies of sc) Tj ET Q q 0 0 0 rg BT 150.69 397.40 Td (ale and leasing and oper) Tj ET Q q 0 0 0 rg BT 249.41 397.40 Td (a) Tj ET Q q 0 0 0 rg BT 254.10 397.40 Td (ting s) Tj ET Q q 0 0 0 rg BT 275.70 397.40 Td (yner) Tj ET Q q 0 0 0 rg BT 293.80 397.40 Td (gies. Manag) Tj ET Q q 0 0 0 rg BT 342.49 397.40 Td (emen) Tj ET Q q 0 0 0 rg BT 365.59 397.40 Td (t will c) Tj ET Q q 0 0 0 rg BT 391.64 397.40 Td (on) Tj ET Q q 0 0 0 rg BT 402.07 397.40 Td (tinue t) Tj ET Q q 0 0 0 rg BT 428.71 397.40 Td (o look f) Tj ET Q q 0 0 0 rg BT 458.74 397.40 Td (or s) Tj ET Q q 0 0 0 rg BT 473.56 397.40 Td (tr) Tj ET Q q 0 0 0 rg BT 480.19 397.40 Td (a) Tj ET Q q 0 0 0 rg BT 484.88 397.40 Td (t) Tj ET Q q 0 0 0 rg BT 488.13 397.40 Td (egic acquisitions, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 385.40 Td (in both e) Tj ET Q q 0 0 0 rg BT 90.03 385.40 Td (xis) Tj ET Q q 0 0 0 rg BT 100.45 385.40 Td (ting mark) Tj ET Q q 0 0 0 rg BT 138.80 385.40 Td (e) Tj ET Q q 0 0 0 rg BT 143.73 385.40 Td (ts and s) Tj ET Q q 0 0 0 rg BT 174.61 385.40 Td (tr) Tj ET Q q 0 0 0 rg BT 181.28 385.40 Td (ong tr) Tj ET Q q 0 0 0 rg BT 205.41 385.40 Td (ade ar) Tj ET Q q 0 0 0 rg BT 230.83 385.40 Td (eas wher) Tj ET Q q 0 0 0 rg BT 267.50 385.40 Td (e the Compan) Tj ET Q q 0 0 0 rg BT 324.28 385.40 Td (y does not y) Tj ET Q q 0 0 0 rg BT 373.29 385.40 Td (e) Tj ET Q q 0 0 0 rg BT 378.21 385.40 Td (t ha) Tj ET Q q 0 0 0 rg BT 393.70 385.40 Td (v) Tj ET Q q 0 0 0 rg BT 398.12 385.40 Td (e a pr) Tj ET Q q 0 0 0 rg BT 421.01 385.40 Td (esence. ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 362.20 Td (Dispositions ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 347.20 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 347.20 Td (y also r) Tj ET Q q 0 0 0 rg BT 133.74 347.20 Td (ecy) Tj ET Q q 0 0 0 rg BT 147.34 347.20 Td (cles its c) Tj ET Q q 0 0 0 rg BT 180.98 347.20 Td (apit) Tj ET Q q 0 0 0 rg BT 196.54 347.20 Td (al t) Tj ET Q q 0 0 0 rg BT 209.14 347.20 Td (o fund ne) Tj ET Q q 0 0 0 rg BT 247.93 347.20 Td (w in) Tj ET Q q 0 0 0 rg BT 264.72 347.20 Td (v) Tj ET Q q 0 0 0 rg BT 269.14 347.20 Td (es) Tj ET Q q 0 0 0 rg BT 277.92 347.20 Td (tmen) Tj ET Q q 0 0 0 rg BT 299.39 347.20 Td (ts b) Tj ET Q q 0 0 0 rg BT 314.12 347.20 Td (y selling asse) Tj ET Q q 0 0 0 rg BT 366.43 347.20 Td (ts in cert) Tj ET Q q 0 0 0 rg BT 401.68 347.20 Td (ain mark) Tj ET Q q 0 0 0 rg BT 436.77 347.20 Td (e) Tj ET Q q 0 0 0 rg BT 441.69 347.20 Td (ts tha) Tj ET Q q 0 0 0 rg BT 464.51 347.20 Td (t ar) Tj ET Q q 0 0 0 rg BT 478.27 347.20 Td (e no long) Tj ET Q q 0 0 0 rg BT 515.74 347.20 Td (er ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 335.20 Td (aligned with its c) Tj ET Q q 0 0 0 rg BT 122.10 335.20 Td (or) Tj ET Q q 0 0 0 rg BT 130.73 335.20 Td (e s) Tj ET Q q 0 0 0 rg BT 141.76 335.20 Td (tr) Tj ET Q q 0 0 0 rg BT 148.39 335.20 Td (a) Tj ET Q q 0 0 0 rg BT 153.09 335.20 Td (t) Tj ET Q q 0 0 0 rg BT 156.33 335.20 Td (egies.) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 313.00 Td (De) Tj ET Q q 0 0 0 rg BT 66.25 313.00 Td (velopmen) Tj ET Q q 0 0 0 rg BT 111.06 313.00 Td (t, R) Tj ET Q q 0 0 0 rg BT 126.23 313.00 Td (ede) Tj ET Q q 0 0 0 rg BT 142.75 313.00 Td (velopmen) Tj ET Q q 0 0 0 rg BT 187.57 313.00 Td (t and Land Use In) Tj ET Q q 0 0 0 rg BT 266.36 313.00 Td (t) Tj ET Q q 0 0 0 rg BT 270.07 313.00 Td (ensific) Tj ET Q q 0 0 0 rg BT 298.94 313.00 Td (ation) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 298.00 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 298.00 Td (y pur) Tj ET Q q 0 0 0 rg BT 125.68 298.00 Td (sues selectiv) Tj ET Q q 0 0 0 rg BT 176.44 298.00 Td (e de) Tj ET Q q 0 0 0 rg BT 193.86 298.00 Td (v) Tj ET Q q 0 0 0 rg BT 198.28 298.00 Td (elopmen) Tj ET Q q 0 0 0 rg BT 234.20 298.00 Td (t and r) Tj ET Q q 0 0 0 rg BT 260.72 298.00 Td (ede) Tj ET Q q 0 0 0 rg BT 275.88 298.00 Td (v) Tj ET Q q 0 0 0 rg BT 280.30 298.00 Td (elopmen) Tj ET Q q 0 0 0 rg BT 316.22 298.00 Td (t activities including land use in) Tj ET Q q 0 0 0 rg BT 442.91 298.00 Td (t) Tj ET Q q 0 0 0 rg BT 446.15 298.00 Td (ensific) Tj ET Q q 0 0 0 rg BT 472.08 298.00 Td (a) Tj ET Q q 0 0 0 rg BT 476.77 298.00 Td (tion pr) Tj ET Q q 0 0 0 rg BT 503.79 298.00 Td (ojects, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 286.00 Td (primarily on its o) Tj ET Q q 0 0 0 rg BT 122.52 286.00 Td (wn, but also with partner) Tj ET Q q 0 0 0 rg BT 225.05 286.00 Td (s, in or) Tj ET Q q 0 0 0 rg BT 252.15 286.00 Td (der t) Tj ET Q q 0 0 0 rg BT 271.38 286.00 Td (o achie) Tj ET Q q 0 0 0 rg BT 300.41 286.00 Td (v) Tj ET Q q 0 0 0 rg BT 304.83 286.00 Td (e a be) Tj ET Q q 0 0 0 rg BT 329.29 286.00 Td (t) Tj ET Q q 0 0 0 rg BT 332.50 286.00 Td (t) Tj ET Q q 0 0 0 rg BT 335.74 286.00 Td (er r) Tj ET Q q 0 0 0 rg BT 349.82 286.00 Td (e) Tj ET Q q 0 0 0 rg BT 354.74 286.00 Td (turn on its portf) Tj ET Q q 0 0 0 rg BT 419.16 286.00 Td (olio o) Tj ET Q q 0 0 0 rg BT 441.78 286.00 Td (v) Tj ET Q q 0 0 0 rg BT 446.20 286.00 Td (er the long t) Tj ET Q q 0 0 0 rg BT 495.80 286.00 Td (erm. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 274.00 Td (R) Tj ET Q q 0 0 0 rg BT 59.25 274.00 Td (ede) Tj ET Q q 0 0 0 rg BT 74.41 274.00 Td (v) Tj ET Q q 0 0 0 rg BT 78.83 274.00 Td (elopmen) Tj ET Q q 0 0 0 rg BT 114.75 274.00 Td (t activities ar) Tj ET Q q 0 0 0 rg BT 166.77 274.00 Td (e f) Tj ET Q q 0 0 0 rg BT 176.85 274.00 Td (ocused primarily on the older) Tj ET Q q 0 0 0 rg BT 295.74 274.00 Td (, w) Tj ET Q q 0 0 0 rg BT 307.55 274.00 Td (ell-loc) Tj ET Q q 0 0 0 rg BT 331.90 274.00 Td (a) Tj ET Q q 0 0 0 rg BT 336.59 274.00 Td (t) Tj ET Q q 0 0 0 rg BT 339.83 274.00 Td (ed shopping cen) Tj ET Q q 0 0 0 rg BT 406.15 274.00 Td (tr) Tj ET Q q 0 0 0 rg BT 412.86 274.00 Td (es tha) Tj ET Q q 0 0 0 rg BT 437.31 274.00 Td (t the Compan) Tj ET Q q 0 0 0 rg BT 492.46 274.00 Td (y o) Tj ET Q q 0 0 0 rg BT 504.48 274.00 Td (wns or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 262.00 Td (activ) Tj ET Q q 0 0 0 rg BT 73.08 262.00 Td (ely seek) Tj ET Q q 0 0 0 rg BT 105.46 262.00 Td (s t) Tj ET Q q 0 0 0 rg BT 114.88 262.00 Td (o acquir) Tj ET Q q 0 0 0 rg BT 147.59 262.00 Td (e. These pr) Tj ET Q q 0 0 0 rg BT 192.18 262.00 Td (operties ar) Tj ET Q q 0 0 0 rg BT 236.10 262.00 Td (e r) Tj ET Q q 0 0 0 rg BT 246.70 262.00 Td (ede) Tj ET Q q 0 0 0 rg BT 261.85 262.00 Td (v) Tj ET Q q 0 0 0 rg BT 266.27 262.00 Td (eloped and e) Tj ET Q q 0 0 0 rg BT 318.94 262.00 Td (xpanded o) Tj ET Q q 0 0 0 rg BT 361.54 262.00 Td (v) Tj ET Q q 0 0 0 rg BT 365.96 262.00 Td (er time in c) Tj ET Q q 0 0 0 rg BT 411.51 262.00 Td (onjunction with anchor t) Tj ET Q q 0 0 0 rg BT 511.70 262.00 Td (enan) Tj ET Q q 0 0 0 rg BT 531.88 262.00 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 250.00 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 250.00 Td (epositioning and changing r) Tj ET Q q 0 0 0 rg BT 169.42 250.00 Td (e) Tj ET Q q 0 0 0 rg BT 174.34 250.00 Td (t) Tj ET Q q 0 0 0 rg BT 177.56 250.00 Td (ail en) Tj ET Q q 0 0 0 rg BT 199.27 250.00 Td (vir) Tj ET Q q 0 0 0 rg BT 209.41 250.00 Td (onmen) Tj ET Q q 0 0 0 rg BT 238.06 250.00 Td (ts. R) Tj ET Q q 0 0 0 rg BT 255.36 250.00 Td (ede) Tj ET Q q 0 0 0 rg BT 270.51 250.00 Td (v) Tj ET Q q 0 0 0 rg BT 274.93 250.00 Td (elopmen) Tj ET Q q 0 0 0 rg BT 310.86 250.00 Td (t of e) Tj ET Q q 0 0 0 rg BT 331.88 250.00 Td (xis) Tj ET Q q 0 0 0 rg BT 342.30 250.00 Td (ting pr) Tj ET Q q 0 0 0 rg BT 368.75 250.00 Td (operties g) Tj ET Q q 0 0 0 rg BT 409.15 250.00 Td (ener) Tj ET Q q 0 0 0 rg BT 427.64 250.00 Td (ally c) Tj ET Q q 0 0 0 rg BT 447.95 250.00 Td (arries a lo) Tj ET Q q 0 0 0 rg BT 487.74 250.00 Td (w) Tj ET Q q 0 0 0 rg BT 494.80 250.00 Td (er mark) Tj ET Q q 0 0 0 rg BT 526.01 250.00 Td (e) Tj ET Q q 0 0 0 rg BT 530.93 250.00 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 238.00 Td (risk due t) Tj ET Q q 0 0 0 rg BT 91.50 238.00 Td (o the urban loc) Tj ET Q q 0 0 0 rg BT 152.88 238.00 Td (a) Tj ET Q q 0 0 0 rg BT 157.58 238.00 Td (tions, e) Tj ET Q q 0 0 0 rg BT 187.24 238.00 Td (xis) Tj ET Q q 0 0 0 rg BT 197.67 238.00 Td (ting t) Tj ET Q q 0 0 0 rg BT 218.78 238.00 Td (enan) Tj ET Q q 0 0 0 rg BT 238.96 238.00 Td (t base and the land use in) Tj ET Q q 0 0 0 rg BT 342.87 238.00 Td (t) Tj ET Q q 0 0 0 rg BT 346.11 238.00 Td (ensific) Tj ET Q q 0 0 0 rg BT 372.04 238.00 Td (a) Tj ET Q q 0 0 0 rg BT 376.73 238.00 Td (tion opportunities. R) Tj ET Q q 0 0 0 rg BT 460.43 238.00 Td (ede) Tj ET Q q 0 0 0 rg BT 475.59 238.00 Td (v) Tj ET Q q 0 0 0 rg BT 480.01 238.00 Td (elopmen) Tj ET Q q 0 0 0 rg BT 515.93 238.00 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 226.00 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 226.00 Td (ojects ar) Tj ET Q q 0 0 0 rg BT 97.12 226.00 Td (e c) Tj ET Q q 0 0 0 rg BT 108.50 226.00 Td (ar) Tj ET Q q 0 0 0 rg BT 116.64 226.00 Td (e) Tj ET Q q 0 0 0 rg BT 121.53 226.00 Td (fully manag) Tj ET Q q 0 0 0 rg BT 168.66 226.00 Td (ed t) Tj ET Q q 0 0 0 rg BT 184.40 226.00 Td (o minimiz) Tj ET Q q 0 0 0 rg BT 223.78 226.00 Td (e t) Tj ET Q q 0 0 0 rg BT 234.25 226.00 Td (enan) Tj ET Q q 0 0 0 rg BT 254.43 226.00 Td (t do) Tj ET Q q 0 0 0 rg BT 270.53 226.00 Td (wn) Tj ET Q q 0 0 0 rg BT 282.84 226.00 Td (time. T) Tj ET Q q 0 0 0 rg BT 310.66 226.00 Td (ypic) Tj ET Q q 0 0 0 rg BT 326.88 226.00 Td (ally) Tj ET Q q 0 0 0 rg BT 340.07 226.00 Td (, t) Tj ET Q q 0 0 0 rg BT 348.07 226.00 Td (enan) Tj ET Q q 0 0 0 rg BT 368.25 226.00 Td (ts c) Tj ET Q q 0 0 0 rg BT 381.92 226.00 Td (on) Tj ET Q q 0 0 0 rg BT 392.35 226.00 Td (tinue t) Tj ET Q q 0 0 0 rg BT 418.99 226.00 Td (o oper) Tj ET Q q 0 0 0 rg BT 445.31 226.00 Td (a) Tj ET Q q 0 0 0 rg BT 450.01 226.00 Td (t) Tj ET Q q 0 0 0 rg BT 453.25 226.00 Td (e during the planning) Tj ET Q q 0 0 0 rg BT 540.05 226.00 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 214.00 Td (z) Tj ET Q q 0 0 0 rg BT 57.73 214.00 Td (oning and leasing phases of the pr) Tj ET Q q 0 0 0 rg BT 196.18 214.00 Td (oject with modes) Tj ET Q q 0 0 0 rg BT 266.26 214.00 Td (t holdo) Tj ET Q q 0 0 0 rg BT 299.36 214.00 Td (v) Tj ET Q q 0 0 0 rg BT 303.78 214.00 Td (er) Tj ET Q q 0 0 0 rg BT 312.69 214.00 Td ( inc) Tj ET Q q 0 0 0 rg BT 330.83 214.00 Td (ome fr) Tj ET Q q 0 0 0 rg BT 357.70 214.00 Td (om t) Tj ET Q q 0 0 0 rg BT 376.47 214.00 Td (enan) Tj ET Q q 0 0 0 rg BT 396.65 214.00 Td (ts oper) Tj ET Q q 0 0 0 rg BT 424.95 214.00 Td (a) Tj ET Q q 0 0 0 rg BT 429.65 214.00 Td (ting during this period. The ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 202.00 Td (Compan) Tj ET Q q 0 0 0 rg BT 87.71 202.00 Td (y will some) Tj ET Q q 0 0 0 rg BT 132.88 202.00 Td (times c) Tj ET Q q 0 0 0 rg BT 161.81 202.00 Td (arr) Tj ET Q q 0 0 0 rg BT 173.62 202.00 Td (y v) Tj ET Q q 0 0 0 rg BT 184.78 202.00 Td (ac) Tj ET Q q 0 0 0 rg BT 193.71 202.00 Td (an) Tj ET Q q 0 0 0 rg BT 203.66 202.00 Td (t space in a pr) Tj ET Q q 0 0 0 rg BT 260.13 202.00 Td (operty f) Tj ET Q q 0 0 0 rg BT 292.10 202.00 Td (or a planned futur) Tj ET Q q 0 0 0 rg BT 365.77 202.00 Td (e e) Tj ET Q q 0 0 0 rg BT 377.83 202.00 Td (xpansion of t) Tj ET Q q 0 0 0 rg BT 430.28 202.00 Td (enan) Tj ET Q q 0 0 0 rg BT 450.46 202.00 Td (ts or r) Tj ET Q q 0 0 0 rg BT 474.36 202.00 Td (ec) Tj ET Q q 0 0 0 rg BT 483.48 202.00 Td (on) Tj ET Q q 0 0 0 rg BT 493.95 202.00 Td (figur) Tj ET Q q 0 0 0 rg BT 512.54 202.00 Td (a) Tj ET Q q 0 0 0 rg BT 517.24 202.00 Td (tion of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 190.00 Td (a pr) Tj ET Q q 0 0 0 rg BT 69.63 190.00 Td (operty) Tj ET Q q 0 0 0 rg BT 95.84 190.00 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 172.00 Td (Manag) Tj ET Q q 0 0 0 rg BT 82.01 172.00 Td (emen) Tj ET Q q 0 0 0 rg BT 105.11 172.00 Td (t belie) Tj ET Q q 0 0 0 rg BT 130.46 172.00 Td (v) Tj ET Q q 0 0 0 rg BT 134.88 172.00 Td (es tha) Tj ET Q q 0 0 0 rg BT 159.33 172.00 Td (t the Compan) Tj ET Q q 0 0 0 rg BT 214.49 172.00 Td (y) Tj ET Q q 0 0 0 rg BT 219.32 172.00 Td () Tj ET Q q 0 0 0 rg BT 221.20 172.00 Td (s shopping cen) Tj ET Q q 0 0 0 rg BT 281.20 172.00 Td (tr) Tj ET Q q 0 0 0 rg BT 287.91 172.00 Td (es, along with its portf) Tj ET Q q 0 0 0 rg BT 378.46 172.00 Td (olio of adjacen) Tj ET Q q 0 0 0 rg BT 438.03 172.00 Td (t sit) Tj ET Q q 0 0 0 rg BT 453.09 172.00 Td (es, giv) Tj ET Q q 0 0 0 rg BT 478.16 172.00 Td (e it a unique ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 160.00 Td (opportunity t) Tj ET Q q 0 0 0 rg BT 108.08 160.00 Td (o participa) Tj ET Q q 0 0 0 rg BT 151.27 160.00 Td (t) Tj ET Q q 0 0 0 rg BT 154.51 160.00 Td (e in urban land use in) Tj ET Q q 0 0 0 rg BT 241.56 160.00 Td (t) Tj ET Q q 0 0 0 rg BT 244.81 160.00 Td (ensific) Tj ET Q q 0 0 0 rg BT 270.73 160.00 Td (a) Tj ET Q q 0 0 0 rg BT 275.43 160.00 Td (tion in its v) Tj ET Q q 0 0 0 rg BT 319.86 160.00 Td (arious mark) Tj ET Q q 0 0 0 rg BT 367.62 160.00 Td (e) Tj ET Q q 0 0 0 rg BT 372.54 160.00 Td (ts. 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Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 598.50 Td (These de) Tj ET Q q 0 0 0 rg BT 90.43 598.50 Td (v) Tj ET Q q 0 0 0 rg BT 94.85 598.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 130.77 598.50 Td (t and land use in) Tj ET Q q 0 0 0 rg BT 197.65 598.50 Td (t) Tj ET Q q 0 0 0 rg BT 200.89 598.50 Td (ensific) Tj ET Q q 0 0 0 rg BT 226.82 598.50 Td (a) Tj ET Q q 0 0 0 rg BT 231.52 598.50 Td (tion activities pr) Tj ET Q q 0 0 0 rg BT 296.80 598.50 Td (o) Tj ET Q q 0 0 0 rg BT 302.03 598.50 Td (vide the Compan) Tj ET Q q 0 0 0 rg BT 370.88 598.50 Td (y with an opportunity t) Tj ET Q q 0 0 0 rg BT 464.36 598.50 Td (o use its e) Tj ET Q q 0 0 0 rg BT 504.93 598.50 Td (xis) Tj ET Q q 0 0 0 rg BT 515.36 598.50 Td (ting ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 586.50 Td (pla) Tj ET Q q 0 0 0 rg BT 66.25 586.50 Td (tf) Tj ET Q q 0 0 0 rg BT 72.44 586.50 Td (orm t) Tj ET Q q 0 0 0 rg BT 94.70 586.50 Td (o sus) Tj ET Q q 0 0 0 rg BT 115.20 586.50 Td (t) Tj ET Q q 0 0 0 rg BT 118.42 586.50 Td (ain and incr) Tj ET Q q 0 0 0 rg BT 165.71 586.50 Td (ease c) Tj ET Q q 0 0 0 rg BT 190.77 586.50 Td (ash flo) Tj ET Q q 0 0 0 rg BT 217.57 586.50 Td (w and r) Tj ET Q q 0 0 0 rg BT 247.89 586.50 Td (ealiz) Tj ET Q q 0 0 0 rg BT 265.97 586.50 Td (e c) Tj ET Q q 0 0 0 rg BT 277.35 586.50 Td (apit) Tj ET Q q 0 0 0 rg BT 292.92 586.50 Td (al appr) Tj ET Q q 0 0 0 rg BT 320.92 586.50 Td (ecia) Tj ET Q q 0 0 0 rg BT 337.12 586.50 Td (tion o) Tj ET Q q 0 0 0 rg BT 360.78 586.50 Td (v) Tj ET Q q 0 0 0 rg BT 365.20 586.50 Td (er the long t) Tj ET Q q 0 0 0 rg BT 414.79 586.50 Td (erm thr) Tj ET Q q 0 0 0 rg BT 445.43 586.50 Td (ough its o) Tj ET Q q 0 0 0 rg BT 485.23 586.50 Td (wner) Tj ET Q q 0 0 0 rg BT 505.92 586.50 Td (ship and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 574.50 Td (de) Tj ET Q q 0 0 0 rg BT 64.18 574.50 Td (v) Tj ET Q q 0 0 0 rg BT 68.60 574.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 104.52 574.50 Td (t activities.) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 551.10 Td (Pr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 64.51 551.10 Td (oactiv) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 94.58 551.10 Td (e Manag) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 137.67 551.10 Td (emen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 165.84 551.10 Td (t) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 536.10 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 536.10 Td (y vie) Tj ET Q q 0 0 0 rg BT 123.59 536.10 Td (w) Tj ET Q q 0 0 0 rg BT 130.66 536.10 Td (s pr) Tj ET Q q 0 0 0 rg BT 145.41 536.10 Td (oactiv) Tj ET Q q 0 0 0 rg BT 169.76 536.10 Td (e manag) Tj ET Q q 0 0 0 rg BT 204.44 536.10 Td (emen) Tj ET Q q 0 0 0 rg BT 227.54 536.10 Td (t of its portf) Tj ET Q q 0 0 0 rg BT 275.76 536.10 Td (olio as a c) Tj ET Q q 0 0 0 rg BT 315.32 536.10 Td (or) Tj ET Q q 0 0 0 rg BT 323.95 536.10 Td (e c) Tj ET Q q 0 0 0 rg BT 335.33 536.10 Td (ompe) Tj ET Q q 0 0 0 rg BT 358.77 536.10 Td (t) Tj ET Q q 0 0 0 rg BT 362.01 536.10 Td (ency and an import) Tj ET Q q 0 0 0 rg BT 440.64 536.10 Td (an) Tj ET Q q 0 0 0 rg BT 450.59 536.10 Td (t part of its s) Tj ET Q q 0 0 0 rg BT 501.54 536.10 Td (tr) Tj ET Q q 0 0 0 rg BT 508.17 536.10 Td (a) Tj ET Q q 0 0 0 rg BT 512.87 536.10 Td (t) Tj ET Q q 0 0 0 rg BT 516.11 536.10 Td (egy) Tj ET Q q 0 0 0 rg BT 529.66 536.10 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 524.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 62.49 524.10 Td (oactiv) Tj ET Q q 0 0 0 rg BT 86.85 524.10 Td (e manag) Tj ET Q q 0 0 0 rg BT 121.53 524.10 Td (emen) Tj ET Q q 0 0 0 rg BT 144.63 524.10 Td (t means the Compan) Tj ET Q q 0 0 0 rg BT 228.97 524.10 Td (y c) Tj ET Q q 0 0 0 rg BT 239.90 524.10 Td (on) Tj ET Q q 0 0 0 rg BT 250.33 524.10 Td (tinues t) Tj ET Q q 0 0 0 rg BT 280.88 524.10 Td (o in) Tj ET Q q 0 0 0 rg BT 295.80 524.10 Td (v) Tj ET Q q 0 0 0 rg BT 300.22 524.10 Td (es) Tj ET Q q 0 0 0 rg BT 309.00 524.10 Td (t in pr) Tj ET Q q 0 0 0 rg BT 332.99 524.10 Td (operties t) Tj ET Q q 0 0 0 rg BT 372.03 524.10 Td (o ensur) Tj ET Q q 0 0 0 rg BT 402.31 524.10 Td (e tha) Tj ET Q q 0 0 0 rg BT 422.85 524.10 Td (t the) Tj ET Q q 0 0 0 rg BT 441.97 524.10 Td (y r) Tj ET Q q 0 0 0 rg BT 452.12 524.10 Td (emain c) Tj ET Q q 0 0 0 rg BT 483.82 524.10 Td (ompe) Tj ET Q q 0 0 0 rg BT 507.26 524.10 Td (titiv) Tj ET Q q 0 0 0 rg BT 522.97 524.10 Td (e b) Tj ET Q q 0 0 0 rg BT 535.41 524.10 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 512.10 Td (a) Tj ET Q q 0 0 0 rg BT 58.70 512.10 Td (t) Tj ET Q q 0 0 0 rg BT 61.91 512.10 Td (tr) Tj ET Q q 0 0 0 rg BT 68.54 512.10 Td (acting quality r) Tj ET Q q 0 0 0 rg BT 128.80 512.10 Td (e) Tj ET Q q 0 0 0 rg BT 133.72 512.10 Td (t) Tj ET Q q 0 0 0 rg BT 136.95 512.10 Td (ail t) Tj ET Q q 0 0 0 rg BT 151.83 512.10 Td (enan) Tj ET Q q 0 0 0 rg BT 172.01 512.10 Td (ts and their cus) Tj ET Q q 0 0 0 rg BT 234.00 512.10 Td (t) Tj ET Q q 0 0 0 rg BT 237.25 512.10 Td (omer) Tj ET Q q 0 0 0 rg BT 258.80 512.10 Td (s o) Tj ET Q q 0 0 0 rg BT 270.20 512.10 Td (v) Tj ET Q q 0 0 0 rg BT 274.62 512.10 Td (er the long t) Tj ET Q q 0 0 0 rg BT 324.21 512.10 Td (erm. Specific) Tj ET Q q 0 0 0 rg BT 376.29 512.10 Td (ally) Tj ET Q q 0 0 0 rg BT 389.48 512.10 Td (, Manag) Tj ET Q q 0 0 0 rg BT 422.25 512.10 Td (emen) Tj ET Q q 0 0 0 rg BT 445.35 512.10 Td (t s) Tj ET Q q 0 0 0 rg BT 454.76 512.10 Td (triv) Tj ET Q q 0 0 0 rg BT 468.31 512.10 Td (es t) Tj ET Q q 0 0 0 rg BT 482.71 512.10 Td (o cr) Tj ET Q q 0 0 0 rg BT 497.82 512.10 Td (ea) Tj ET Q q 0 0 0 rg BT 507.50 512.10 Td (t) Tj ET Q q 0 0 0 rg BT 510.74 512.10 Td (e and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 500.10 Td (main) Tj ET Q q 0 0 0 rg BT 74.23 500.10 Td (t) Tj ET Q q 0 0 0 rg BT 77.46 500.10 Td (ain the highes) Tj ET Q q 0 0 0 rg BT 134.19 500.10 Td (t s) Tj ET Q q 0 0 0 rg BT 143.59 500.10 Td (t) Tj ET Q q 0 0 0 rg BT 146.82 500.10 Td (andar) Tj ET Q q 0 0 0 rg BT 170.26 500.10 Td (ds in ligh) Tj ET Q q 0 0 0 rg BT 205.95 500.10 Td (ting) Tj ET Q q 0 0 0 rg BT 221.67 500.10 Td (, parking) Tj ET Q q 0 0 0 rg BT 256.87 500.10 Td (, access and g) Tj ET Q q 0 0 0 rg BT 312.12 500.10 Td (ener) Tj ET Q q 0 0 0 rg BT 330.60 500.10 Td (al appear) Tj ET Q q 0 0 0 rg BT 368.29 500.10 Td (ance of the Compan) Tj ET Q q 0 0 0 rg BT 449.93 500.10 Td (y) Tj ET Q q 0 0 0 rg BT 454.76 500.10 Td () Tj ET Q q 0 0 0 rg BT 456.65 500.10 Td (s pr) Tj ET Q q 0 0 0 rg BT 471.40 500.10 Td (operties. The ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 488.10 Td (Compan) Tj ET Q q 0 0 0 rg BT 87.71 488.10 Td (y) Tj ET Q q 0 0 0 rg BT 92.54 488.10 Td () Tj ET Q q 0 0 0 rg BT 94.42 488.10 Td (s pr) Tj ET Q q 0 0 0 rg BT 109.17 488.10 Td (oactiv) Tj ET Q q 0 0 0 rg BT 133.53 488.10 Td (e manag) Tj ET Q q 0 0 0 rg BT 168.21 488.10 Td (emen) Tj ET Q q 0 0 0 rg BT 191.31 488.10 Td (t s) Tj ET Q q 0 0 0 rg BT 200.72 488.10 Td (tr) Tj ET Q q 0 0 0 rg BT 207.35 488.10 Td (a) Tj ET Q q 0 0 0 rg BT 212.05 488.10 Td (t) Tj ET Q q 0 0 0 rg BT 215.29 488.10 Td (egies ha) Tj ET Q q 0 0 0 rg BT 248.29 488.10 Td (v) Tj ET Q q 0 0 0 rg BT 252.71 488.10 Td (e his) Tj ET Q q 0 0 0 rg BT 271.29 488.10 Td (t) Tj ET Q q 0 0 0 rg BT 274.55 488.10 Td (oric) Tj ET Q q 0 0 0 rg BT 289.75 488.10 Td (ally c) Tj ET Q q 0 0 0 rg BT 310.06 488.10 Td (on) Tj ET Q q 0 0 0 rg BT 320.49 488.10 Td (tribut) Tj ET Q q 0 0 0 rg BT 343.38 488.10 Td (ed t) Tj ET Q q 0 0 0 rg BT 359.12 488.10 Td (o impr) Tj ET Q q 0 0 0 rg BT 385.51 488.10 Td (o) Tj ET Q q 0 0 0 rg BT 390.74 488.10 Td (v) Tj ET Q q 0 0 0 rg BT 395.16 488.10 Td (emen) Tj ET Q q 0 0 0 rg BT 418.26 488.10 Td (ts in occupancy le) Tj ET Q q 0 0 0 rg BT 490.11 488.10 Td (v) Tj ET Q q 0 0 0 rg BT 494.53 488.10 Td (els and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 476.10 Td (a) Tj ET Q q 0 0 0 rg BT 58.62 476.10 Td (v) Tj ET Q q 0 0 0 rg BT 63.04 476.10 Td (er) Tj ET Q q 0 0 0 rg BT 71.30 476.10 Td (ag) Tj ET Q q 0 0 0 rg BT 80.71 476.10 Td (e lease r) Tj ET Q q 0 0 0 rg BT 114.44 476.10 Td (a) Tj ET Q q 0 0 0 rg BT 119.14 476.10 Td (t) Tj ET Q q 0 0 0 rg BT 122.38 476.10 Td (es thr) Tj ET Q q 0 0 0 rg BT 145.46 476.10 Td (oughout the portf) Tj ET Q q 0 0 0 rg BT 218.13 476.10 Td (olio.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 458.10 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 458.10 Td (y is fully in) Tj ET Q q 0 0 0 rg BT 147.46 458.10 Td (t) Tj ET Q q 0 0 0 rg BT 150.70 458.10 Td (ernaliz) Tj ET Q q 0 0 0 rg BT 177.53 458.10 Td (ed and all v) Tj ET Q q 0 0 0 rg BT 223.58 458.10 Td (alue cr) Tj ET Q q 0 0 0 rg BT 250.74 458.10 Td (ea) Tj ET Q q 0 0 0 rg BT 260.42 458.10 Td (tion activities, including de) Tj ET Q q 0 0 0 rg BT 368.89 458.10 Td (v) Tj ET Q q 0 0 0 rg BT 373.31 458.10 Td (elopmen) Tj ET Q q 0 0 0 rg BT 409.23 458.10 Td (t manag) Tj ET Q q 0 0 0 rg BT 442.29 458.10 Td (emen) Tj ET Q q 0 0 0 rg BT 465.39 458.10 Td (t, leasing) Tj ET Q q 0 0 0 rg BT 501.83 458.10 Td (, pr) Tj ET Q q 0 0 0 rg BT 515.17 458.10 Td (operty ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 446.10 Td (manag) Tj ET Q q 0 0 0 rg BT 81.45 446.10 Td (emen) Tj ET Q q 0 0 0 rg BT 104.55 446.10 Td (t, lease adminis) Tj ET Q q 0 0 0 rg BT 167.54 446.10 Td (tr) Tj ET Q q 0 0 0 rg BT 174.17 446.10 Td (a) Tj ET Q q 0 0 0 rg BT 178.86 446.10 Td (tion, leg) Tj ET Q q 0 0 0 rg BT 211.58 446.10 Td (al, c) Tj ET Q q 0 0 0 rg BT 227.57 446.10 Td (ons) Tj ET Q q 0 0 0 rg BT 241.90 446.10 Td (truction manag) Tj ET Q q 0 0 0 rg BT 304.09 446.10 Td (emen) Tj ET Q q 0 0 0 rg BT 327.19 446.10 Td (t and t) Tj ET Q q 0 0 0 rg BT 353.60 446.10 Td (enan) Tj ET Q q 0 0 0 rg BT 373.79 446.10 Td (t c) Tj ET Q q 0 0 0 rg BT 383.54 446.10 Td (o-or) Tj ET Q q 0 0 0 rg BT 400.50 446.10 Td (dina) Tj ET Q q 0 0 0 rg BT 418.00 446.10 Td (tion functions, ar) Tj ET Q q 0 0 0 rg BT 487.20 446.10 Td (e dir) Tj ET Q q 0 0 0 rg BT 505.34 446.10 Td (ectly ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 434.10 Td (manag) Tj ET Q q 0 0 0 rg BT 81.45 434.10 Td (ed and e) Tj ET Q q 0 0 0 rg BT 116.32 434.10 Td (x) Tj ET Q q 0 0 0 rg BT 120.39 434.10 Td (ecut) Tj ET Q q 0 0 0 rg BT 138.09 434.10 Td (ed b) Tj ET Q q 0 0 0 rg BT 155.78 434.10 Td (y e) Tj ET Q q 0 0 0 rg BT 167.39 434.10 Td (xperienced r) Tj ET Q q 0 0 0 rg BT 218.04 434.10 Td (eal es) Tj ET Q q 0 0 0 rg BT 241.13 434.10 Td (t) Tj ET Q q 0 0 0 rg BT 244.36 434.10 Td (a) Tj ET Q q 0 0 0 rg BT 249.06 434.10 Td (t) Tj ET Q q 0 0 0 rg BT 252.30 434.10 Td (e pr) Tj ET Q q 0 0 0 rg BT 268.12 434.10 Td (of) Tj ET Q q 0 0 0 rg BT 276.19 434.10 Td (essionals. Corpor) Tj ET Q q 0 0 0 rg BT 345.49 434.10 Td (a) Tj ET Q q 0 0 0 rg BT 350.19 434.10 Td (t) Tj ET Q q 0 0 0 rg BT 353.43 434.10 Td (e finance, human r) Tj ET Q q 0 0 0 rg BT 429.43 434.10 Td (esour) Tj ET Q q 0 0 0 rg BT 452.18 434.10 Td (ces, and mos) Tj ET Q q 0 0 0 rg BT 504.67 434.10 Td (t of senior ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 422.10 Td (manag) Tj ET Q q 0 0 0 rg BT 81.45 422.10 Td (emen) Tj ET Q q 0 0 0 rg BT 104.55 422.10 Td (t ar) Tj ET Q q 0 0 0 rg BT 118.30 422.10 Td (e cen) Tj ET Q q 0 0 0 rg BT 139.90 422.10 Td (tr) Tj ET Q q 0 0 0 rg BT 146.53 422.10 Td (aliz) Tj ET Q q 0 0 0 rg BT 159.64 422.10 Td (ed a) Tj ET Q q 0 0 0 rg BT 176.83 422.10 Td (t the Compan) Tj ET Q q 0 0 0 rg BT 231.98 422.10 Td (y) Tj ET Q q 0 0 0 rg BT 236.81 422.10 Td () Tj ET Q q 0 0 0 rg BT 238.70 422.10 Td (s head of) Tj ET Q q 0 0 0 rg BT 275.63 422.10 Td (fice loc) Tj ET Q q 0 0 0 rg BT 304.16 422.10 Td (a) Tj ET Q q 0 0 0 rg BT 308.85 422.10 Td (tion in T) Tj ET Q q 0 0 0 rg BT 341.08 422.10 Td (or) Tj ET Q q 0 0 0 rg BT 349.68 422.10 Td (on) Tj ET Q q 0 0 0 rg BT 360.11 422.10 Td (t) Tj ET Q q 0 0 0 rg BT 363.37 422.10 Td (o. Pr) Tj ET Q q 0 0 0 rg BT 381.92 422.10 Td (operty manag) Tj ET Q q 0 0 0 rg BT 438.49 422.10 Td (emen) Tj ET Q q 0 0 0 rg BT 461.59 422.10 Td (t and oper) Tj ET Q q 0 0 0 rg BT 503.54 422.10 Td (a) Tj ET Q q 0 0 0 rg BT 508.24 422.10 Td (tions ar) Tj ET Q q 0 0 0 rg BT 538.73 422.10 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 410.10 Td (cen) Tj ET Q q 0 0 0 rg BT 68.37 410.10 Td (tr) Tj ET Q q 0 0 0 rg BT 75.00 410.10 Td (aliz) Tj ET Q q 0 0 0 rg BT 88.10 410.10 Td (ed in or) Tj ET Q q 0 0 0 rg BT 119.02 410.10 Td (der t) Tj ET Q q 0 0 0 rg BT 138.25 410.10 Td (o ensur) Tj ET Q q 0 0 0 rg BT 168.54 410.10 Td (e tha) Tj ET Q q 0 0 0 rg BT 189.07 410.10 Td (t c) Tj ET Q q 0 0 0 rg BT 198.83 410.10 Td (onsis) Tj ET Q q 0 0 0 rg BT 219.36 410.10 Td (t) Tj ET Q q 0 0 0 rg BT 222.60 410.10 Td (en) Tj ET Q q 0 0 0 rg BT 232.74 410.10 Td (t s) Tj ET Q q 0 0 0 rg BT 242.15 410.10 Td (t) Tj ET Q q 0 0 0 rg BT 245.38 410.10 Td (andar) Tj ET Q q 0 0 0 rg BT 268.81 410.10 Td (ds of oper) Tj ET Q q 0 0 0 rg BT 309.61 410.10 Td (a) Tj ET Q q 0 0 0 rg BT 314.31 410.10 Td (tion and main) Tj ET Q q 0 0 0 rg BT 370.53 410.10 Td (t) Tj ET Q q 0 0 0 rg BT 373.78 410.10 Td (enance ar) Tj ET Q q 0 0 0 rg BT 413.66 410.10 Td (e achie) Tj ET Q q 0 0 0 rg BT 442.39 410.10 Td (v) Tj ET Q q 0 0 0 rg BT 446.81 410.10 Td (ed. R) Tj ET Q q 0 0 0 rg BT 467.08 410.10 Td (eal es) Tj ET Q q 0 0 0 rg BT 490.17 410.10 Td (t) Tj ET Q q 0 0 0 rg BT 493.40 410.10 Td (a) Tj ET Q q 0 0 0 rg BT 498.10 410.10 Td (t) Tj ET Q q 0 0 0 rg BT 501.34 410.10 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 398.10 Td (acquisitions, de) Tj ET Q q 0 0 0 rg BT 117.05 398.10 Td (v) Tj ET Q q 0 0 0 rg BT 121.47 398.10 Td (elopmen) Tj ET Q q 0 0 0 rg BT 157.39 398.10 Td (t and r) Tj ET Q q 0 0 0 rg BT 183.91 398.10 Td (ede) Tj ET Q q 0 0 0 rg BT 199.07 398.10 Td (v) Tj ET Q q 0 0 0 rg BT 203.49 398.10 Td (elopmen) Tj ET Q q 0 0 0 rg BT 239.41 398.10 Td (t, leasing) Tj ET Q q 0 0 0 rg BT 275.86 398.10 Td (, and c) Tj ET Q q 0 0 0 rg BT 302.32 398.10 Td (ons) Tj ET Q q 0 0 0 rg BT 316.64 398.10 Td (truction ar) Tj ET Q q 0 0 0 rg BT 359.54 398.10 Td (e e) Tj ET Q q 0 0 0 rg BT 371.60 398.10 Td (x) Tj ET Q q 0 0 0 rg BT 375.67 398.10 Td (ecut) Tj ET Q q 0 0 0 rg BT 393.37 398.10 Td (ed thr) Tj ET Q q 0 0 0 rg BT 417.78 398.10 Td (ough loc) Tj ET Q q 0 0 0 rg BT 452.25 398.10 Td (al t) Tj ET Q q 0 0 0 rg BT 464.83 398.10 Td (eams loc) Tj ET Q q 0 0 0 rg BT 500.47 398.10 Td (a) Tj ET Q q 0 0 0 rg BT 505.17 398.10 Td (t) Tj ET Q q 0 0 0 rg BT 508.41 398.10 Td (ed in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 386.10 Td (Compan) Tj ET Q q 0 0 0 rg BT 87.71 386.10 Td (y) Tj ET Q q 0 0 0 rg BT 92.54 386.10 Td () Tj ET Q q 0 0 0 rg BT 94.42 386.10 Td (s of) Tj ET Q q 0 0 0 rg BT 108.82 386.10 Td (fices in T) Tj ET Q q 0 0 0 rg BT 143.34 386.10 Td (or) Tj ET Q q 0 0 0 rg BT 151.93 386.10 Td (on) Tj ET Q q 0 0 0 rg BT 162.37 386.10 Td (t) Tj ET Q q 0 0 0 rg BT 165.62 386.10 Td (o) Tj ET Q q 0 0 0 rg BT 170.71 386.10 Td (, Mon) Tj ET Q q 0 0 0 rg BT 194.45 386.10 Td (tr) Tj ET Q q 0 0 0 rg BT 201.16 386.10 Td (eal, Ot) Tj ET Q q 0 0 0 rg BT 227.80 386.10 Td (t) Tj ET Q q 0 0 0 rg BT 231.03 386.10 Td (a) Tj ET Q q 0 0 0 rg BT 235.75 386.10 Td (w) Tj ET Q q 0 0 0 rg BT 242.79 386.10 Td (a, Calg) Tj ET Q q 0 0 0 rg BT 269.27 386.10 Td (ar) Tj ET Q q 0 0 0 rg BT 277.60 386.10 Td (y) Tj ET Q q 0 0 0 rg BT 281.41 386.10 Td (, E) Tj ET Q q 0 0 0 rg BT 290.90 386.10 Td (dmon) Tj ET Q q 0 0 0 rg BT 314.58 386.10 Td (t) Tj ET Q q 0 0 0 rg BT 317.83 386.10 Td (on and V) Tj ET Q q 0 0 0 rg BT 353.30 386.10 Td (anc) Tj ET Q q 0 0 0 rg BT 367.49 386.10 Td (ouv) Tj ET Q q 0 0 0 rg BT 382.43 386.10 Td (er in or) Tj ET Q q 0 0 0 rg BT 411.59 386.10 Td (der t) Tj ET Q q 0 0 0 rg BT 430.82 386.10 Td (o e) Tj ET Q q 0 0 0 rg BT 443.24 386.10 Td (f) Tj ET Q q 0 0 0 rg BT 446.19 386.10 Td (f) Tj ET Q q 0 0 0 rg BT 449.00 386.10 Td (ectiv) Tj ET Q q 0 0 0 rg BT 468.26 386.10 Td (ely ser) Tj ET Q q 0 0 0 rg BT 494.79 386.10 Td (v) Tj ET Q q 0 0 0 rg BT 499.21 386.10 Td (e the major ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 374.10 Td (urban mark) Tj ET Q q 0 0 0 rg BT 100.79 374.10 Td (e) Tj ET Q q 0 0 0 rg BT 105.71 374.10 Td (ts wher) Tj ET Q q 0 0 0 rg BT 135.96 374.10 Td (e Fir) Tj ET Q q 0 0 0 rg BT 153.40 374.10 Td (s) Tj ET Q q 0 0 0 rg BT 157.20 374.10 Td (t Capit) Tj ET Q q 0 0 0 rg BT 183.71 374.10 Td (al R) Tj ET Q q 0 0 0 rg BT 198.31 374.10 Td (ealty oper) Tj ET Q q 0 0 0 rg BT 239.29 374.10 Td (a) Tj ET Q q 0 0 0 rg BT 243.99 374.10 Td (t) Tj ET Q q 0 0 0 rg BT 247.23 374.10 Td (es. In addition, the Compan) Tj ET Q q 0 0 0 rg BT 359.00 374.10 Td (y) Tj ET Q q 0 0 0 rg BT 363.83 374.10 Td () Tj ET Q q 0 0 0 rg BT 365.72 374.10 Td (s manag) Tj ET Q q 0 0 0 rg BT 399.34 374.10 Td (emen) Tj ET Q q 0 0 0 rg BT 422.44 374.10 Td (t t) Tj ET Q q 0 0 0 rg BT 431.29 374.10 Td (eam possesses signific) Tj ET Q q 0 0 0 rg BT 521.55 374.10 Td (an) Tj ET Q q 0 0 0 rg BT 531.50 374.10 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 362.10 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 362.10 Td (e) Tj ET Q q 0 0 0 rg BT 62.28 362.10 Td (t) Tj ET Q q 0 0 0 rg BT 65.50 362.10 Td (ail e) Tj ET Q q 0 0 0 rg BT 81.97 362.10 Td (xperience, which c) Tj ET Q q 0 0 0 rg BT 157.09 362.10 Td (on) Tj ET Q q 0 0 0 rg BT 167.52 362.10 Td (tribut) Tj ET Q q 0 0 0 rg BT 190.40 362.10 Td (es t) Tj ET Q q 0 0 0 rg BT 204.80 362.10 Td (o the Compan) Tj ET Q q 0 0 0 rg BT 261.88 362.10 Td (y) Tj ET Q q 0 0 0 rg BT 266.71 362.10 Td () Tj ET Q q 0 0 0 rg BT 268.59 362.10 Td (s in-dep) Tj ET Q q 0 0 0 rg BT 300.82 362.10 Td (th kno) Tj ET Q q 0 0 0 rg BT 326.71 362.10 Td (wledg) Tj ET Q q 0 0 0 rg BT 351.01 362.10 Td (e of its t) Tj ET Q q 0 0 0 rg BT 383.89 362.10 Td (enan) Tj ET Q q 0 0 0 rg BT 404.07 362.10 Td (ts and mark) Tj ET Q q 0 0 0 rg BT 451.64 362.10 Td (e) Tj ET Q q 0 0 0 rg BT 456.56 362.10 Td (t tr) Tj ET Q q 0 0 0 rg BT 468.88 362.10 Td (ends.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 344.10 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 344.10 Td (y oper) Tj ET Q q 0 0 0 rg BT 130.64 344.10 Td (a) Tj ET Q q 0 0 0 rg BT 135.34 344.10 Td (t) Tj ET Q q 0 0 0 rg BT 138.58 344.10 Td (es solely in Canada in thr) Tj ET Q q 0 0 0 rg BT 239.31 344.10 Td (ee oper) Tj ET Q q 0 0 0 rg BT 270.31 344.10 Td (a) Tj ET Q q 0 0 0 rg BT 275.01 344.10 Td (ting r) Tj ET Q q 0 0 0 rg BT 296.23 344.10 Td (egions, r) Tj ET Q q 0 0 0 rg BT 330.75 344.10 Td (eporting t) Tj ET Q q 0 0 0 rg BT 370.86 344.10 Td (o a r) Tj ET Q q 0 0 0 rg BT 388.80 344.10 Td (egional e) Tj ET Q q 0 0 0 rg BT 425.47 344.10 Td (x) Tj ET Q q 0 0 0 rg BT 429.54 344.10 Td (ecutiv) Tj ET Q q 0 0 0 rg BT 454.06 344.10 Td (e, as f) Tj ET Q q 0 0 0 rg BT 477.60 344.10 Td (ollo) Tj ET Q q 0 0 0 rg BT 492.70 344.10 Td (w) Tj ET Q q 0 0 0 rg BT 499.76 344.10 Td (s: E) Tj ET Q q 0 0 0 rg BT 513.32 344.10 Td (as) Tj ET Q q 0 0 0 rg BT 521.91 344.10 Td (t) Tj ET Q q 0 0 0 rg BT 525.15 344.10 Td (ern ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 332.10 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 332.10 Td (egion, which primarily includes oper) Tj ET Q q 0 0 0 rg BT 204.24 332.10 Td (a) Tj ET Q q 0 0 0 rg BT 208.94 332.10 Td (tions in Quebec and the Ot) Tj ET Q q 0 0 0 rg BT 318.00 332.10 Td (t) Tj ET Q q 0 0 0 rg BT 321.23 332.10 Td (a) Tj ET Q q 0 0 0 rg BT 325.95 332.10 Td (w) Tj ET Q q 0 0 0 rg BT 332.98 332.10 Td (a ar) Tj ET Q q 0 0 0 rg BT 348.18 332.10 Td (ea; Cen) Tj ET Q q 0 0 0 rg BT 378.35 332.10 Td (tr) Tj ET Q q 0 0 0 rg BT 384.98 332.10 Td (al r) Tj ET Q q 0 0 0 rg BT 397.68 332.10 Td (egion, which includes the Compan) Tj ET Q q 0 0 0 rg BT 536.66 332.10 Td (y) Tj ET Q q 0 0 0 rg BT 541.49 332.10 Td () Tj ET Q q 0 0 0 rg BT 543.37 332.10 Td (s ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 320.10 Td (On) Tj ET Q q 0 0 0 rg BT 65.78 320.10 Td (t) Tj ET Q q 0 0 0 rg BT 69.01 320.10 Td (ario oper) Tj ET Q q 0 0 0 rg BT 105.90 320.10 Td (a) Tj ET Q q 0 0 0 rg BT 110.60 320.10 Td (tions, e) Tj ET Q q 0 0 0 rg BT 140.26 320.10 Td (x) Tj ET Q q 0 0 0 rg BT 144.37 320.10 Td (cluding Ot) Tj ET Q q 0 0 0 rg BT 185.74 320.10 Td (t) Tj ET Q q 0 0 0 rg BT 188.97 320.10 Td (a) Tj ET Q q 0 0 0 rg BT 193.69 320.10 Td (w) Tj ET Q q 0 0 0 rg BT 200.73 320.10 Td (a; and W) Tj ET Q q 0 0 0 rg BT 236.54 320.10 Td (es) Tj ET Q q 0 0 0 rg BT 245.32 320.10 Td (t) Tj ET Q q 0 0 0 rg BT 248.56 320.10 Td (ern r) Tj ET Q q 0 0 0 rg BT 267.89 320.10 Td (egion, which includes oper) Tj ET Q q 0 0 0 rg BT 376.10 320.10 Td (a) Tj ET Q q 0 0 0 rg BT 380.80 320.10 Td (tions in Albert) Tj ET Q q 0 0 0 rg BT 437.98 320.10 Td (a and British Columbia.) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 296.70 Td (Cos) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 71.46 296.70 Td (t of Capit) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 116.99 296.70 Td (al) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 281.70 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 281.70 Td (y seek) Tj ET Q q 0 0 0 rg BT 130.17 281.70 Td (s t) Tj ET Q q 0 0 0 rg BT 139.60 281.70 Td (o main) Tj ET Q q 0 0 0 rg BT 167.36 281.70 Td (t) Tj ET Q q 0 0 0 rg BT 170.59 281.70 Td (ain financial s) Tj ET Q q 0 0 0 rg BT 225.50 281.70 Td (tr) Tj ET Q q 0 0 0 rg BT 232.21 281.70 Td (eng) Tj ET Q q 0 0 0 rg BT 246.99 281.70 Td (th and fle) Tj ET Q q 0 0 0 rg BT 285.59 281.70 Td (xibility in or) Tj ET Q q 0 0 0 rg BT 332.92 281.70 Td (der t) Tj ET Q q 0 0 0 rg BT 352.15 281.70 Td (o achie) Tj ET Q q 0 0 0 rg BT 381.18 281.70 Td (v) Tj ET Q q 0 0 0 rg BT 385.60 281.70 Td (e a r) Tj ET Q q 0 0 0 rg BT 403.24 281.70 Td (easonable c) Tj ET Q q 0 0 0 rg BT 451.16 281.70 Td (os) Tj ET Q q 0 0 0 rg BT 460.24 281.70 Td (t of deb) Tj ET Q q 0 0 0 rg BT 491.87 281.70 Td (t and equity ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 269.70 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 269.70 Td (apit) Tj ET Q q 0 0 0 rg BT 73.71 269.70 Td (al o) Tj ET Q q 0 0 0 rg BT 88.29 269.70 Td (v) Tj ET Q q 0 0 0 rg BT 92.71 269.70 Td (er the long t) Tj ET Q q 0 0 0 rg BT 142.30 269.70 Td (erm. The Compan) Tj ET Q q 0 0 0 rg BT 214.61 269.70 Td (y) Tj ET Q q 0 0 0 rg BT 219.43 269.70 Td () Tj ET Q q 0 0 0 rg BT 221.32 269.70 Td (s c) Tj ET Q q 0 0 0 rg BT 231.64 269.70 Td (apit) Tj ET Q q 0 0 0 rg BT 247.20 269.70 Td (al s) Tj ET Q q 0 0 0 rg BT 260.35 269.70 Td (tructur) Tj ET Q q 0 0 0 rg BT 288.62 269.70 Td (e is k) Tj ET Q q 0 0 0 rg BT 308.55 269.70 Td (e) Tj ET Q q 0 0 0 rg BT 313.46 269.70 Td (y t) Tj ET Q q 0 0 0 rg BT 323.50 269.70 Td (o financing gr) Tj ET Q q 0 0 0 rg BT 378.46 269.70 Td (o) Tj ET Q q 0 0 0 rg BT 383.69 269.70 Td (w) Tj ET Q q 0 0 0 rg BT 390.86 269.70 Td (th and pr) Tj ET Q q 0 0 0 rg BT 427.86 269.70 Td (o) Tj ET Q q 0 0 0 rg BT 433.09 269.70 Td (viding sus) Tj ET Q q 0 0 0 rg BT 472.64 269.70 Td (t) Tj ET Q q 0 0 0 rg BT 475.87 269.70 Td (ainable c) Tj ET Q q 0 0 0 rg BT 511.92 269.70 Td (ash ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 257.70 Td (dividends t) Tj ET Q q 0 0 0 rg BT 98.52 257.70 Td (o its shar) Tj ET Q q 0 0 0 rg BT 135.18 257.70 Td (eholder) Tj ET Q q 0 0 0 rg BT 166.52 257.70 Td (s. In the r) Tj ET Q q 0 0 0 rg BT 204.45 257.70 Td (eal es) Tj ET Q q 0 0 0 rg BT 227.54 257.70 Td (t) Tj ET Q q 0 0 0 rg BT 230.77 257.70 Td (a) Tj ET Q q 0 0 0 rg BT 235.47 257.70 Td (t) Tj ET Q q 0 0 0 rg BT 238.71 257.70 Td (e indus) Tj ET Q q 0 0 0 rg BT 267.80 257.70 Td (tr) Tj ET Q q 0 0 0 rg BT 274.69 257.70 Td (y) Tj ET Q q 0 0 0 rg BT 278.50 257.70 Td (, financial le) Tj ET Q q 0 0 0 rg BT 326.99 257.70 Td (v) Tj ET Q q 0 0 0 rg BT 331.41 257.70 Td (er) Tj ET Q q 0 0 0 rg BT 339.67 257.70 Td (ag) Tj ET Q q 0 0 0 rg BT 349.08 257.70 Td (e is used t) Tj ET Q q 0 0 0 rg BT 389.69 257.70 Td (o enhance r) Tj ET Q q 0 0 0 rg BT 437.50 257.70 Td (a) Tj ET Q q 0 0 0 rg BT 442.20 257.70 Td (t) Tj ET Q q 0 0 0 rg BT 445.44 257.70 Td (es of r) Tj ET Q q 0 0 0 rg BT 470.53 257.70 Td (e) Tj ET Q q 0 0 0 rg BT 475.45 257.70 Td (turn on in) Tj ET Q q 0 0 0 rg BT 515.23 257.70 Td (v) Tj ET Q q 0 0 0 rg BT 519.64 257.70 Td (es) Tj ET Q q 0 0 0 rg BT 528.42 257.70 Td (t) Tj ET Q q 0 0 0 rg BT 531.66 257.70 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 245.70 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 245.70 Td (apit) Tj ET Q q 0 0 0 rg BT 73.71 245.70 Td (al. Manag) Tj ET Q q 0 0 0 rg BT 113.59 245.70 Td (emen) Tj ET Q q 0 0 0 rg BT 136.69 245.70 Td (t belie) Tj ET Q q 0 0 0 rg BT 162.05 245.70 Td (v) Tj ET Q q 0 0 0 rg BT 166.47 245.70 Td (es tha) Tj ET Q q 0 0 0 rg BT 190.91 245.70 Td (t Fir) Tj ET Q q 0 0 0 rg BT 206.73 245.70 Td (s) Tj ET Q q 0 0 0 rg BT 210.53 245.70 Td (t Capit) Tj ET Q q 0 0 0 rg BT 237.04 245.70 Td (al R) Tj ET Q q 0 0 0 rg BT 251.64 245.70 Td (ealty) Tj ET Q q 0 0 0 rg BT 271.88 245.70 Td () Tj ET Q q 0 0 0 rg BT 273.76 245.70 Td (s c) Tj ET Q q 0 0 0 rg BT 284.08 245.70 Td (apit) Tj ET Q q 0 0 0 rg BT 299.64 245.70 Td (al s) Tj ET Q q 0 0 0 rg BT 312.79 245.70 Td (tructur) Tj ET Q q 0 0 0 rg BT 341.07 245.70 Td (e c) Tj ET Q q 0 0 0 rg BT 352.45 245.70 Td (omposition of senior unsecur) Tj ET Q q 0 0 0 rg BT 471.15 245.70 Td (ed deb) Tj ET Q q 0 0 0 rg BT 499.08 245.70 Td (t, mortg) Tj ET Q q 0 0 0 rg BT 531.80 245.70 Td (ag) Tj ET Q q 0 0 0 rg BT 541.22 245.70 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 233.70 Td (deb) Tj ET Q q 0 0 0 rg BT 69.44 233.70 Td (t, r) Tj ET Q q 0 0 0 rg BT 80.90 233.70 Td (e) Tj ET Q q 0 0 0 rg BT 85.83 233.70 Td (v) Tj ET Q q 0 0 0 rg BT 90.25 233.70 Td (olving cr) Tj ET Q q 0 0 0 rg BT 124.43 233.70 Td (edit f) Tj ET Q q 0 0 0 rg BT 145.43 233.70 Td (acilities, c) Tj ET Q q 0 0 0 rg BT 184.76 233.70 Td (on) Tj ET Q q 0 0 0 rg BT 195.12 233.70 Td (v) Tj ET Q q 0 0 0 rg BT 199.54 233.70 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 254.05 233.70 Td (tur) Tj ET Q q 0 0 0 rg BT 266.01 233.70 Td (es and equity pr) Tj ET Q q 0 0 0 rg BT 331.21 233.70 Td (o) Tj ET Q q 0 0 0 rg BT 336.44 233.70 Td (vides financing fle) Tj ET Q q 0 0 0 rg BT 409.21 233.70 Td (xibility and r) Tj ET Q q 0 0 0 rg BT 459.03 233.70 Td (educes risk) Tj ET Q q 0 0 0 rg BT 504.03 233.70 Td (s, while ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 221.70 Td (g) Tj ET Q q 0 0 0 rg BT 58.62 221.70 Td (ener) Tj ET Q q 0 0 0 rg BT 77.11 221.70 Td (a) Tj ET Q q 0 0 0 rg BT 81.81 221.70 Td (ting an accep) Tj ET Q q 0 0 0 rg BT 135.41 221.70 Td (t) Tj ET Q q 0 0 0 rg BT 138.64 221.70 Td (able r) Tj ET Q q 0 0 0 rg BT 161.57 221.70 Td (e) Tj ET Q q 0 0 0 rg BT 166.49 221.70 Td (turn on in) Tj ET Q q 0 0 0 rg BT 206.27 221.70 Td (v) Tj ET Q q 0 0 0 rg BT 210.68 221.70 Td (es) Tj ET Q q 0 0 0 rg BT 219.46 221.70 Td (tmen) Tj ET Q q 0 0 0 rg BT 240.93 221.70 Td (t, t) Tj ET Q q 0 0 0 rg BT 252.27 221.70 Td (aking in) Tj ET Q q 0 0 0 rg BT 283.58 221.70 Td (t) Tj ET Q q 0 0 0 rg BT 286.83 221.70 Td (o acc) Tj ET Q q 0 0 0 rg BT 307.53 221.70 Td (oun) Tj ET Q q 0 0 0 rg BT 323.21 221.70 Td (t the long-t) Tj ET Q q 0 0 0 rg BT 368.50 221.70 Td (erm business s) Tj ET Q q 0 0 0 rg BT 428.03 221.70 Td (tr) Tj ET Q q 0 0 0 rg BT 434.66 221.70 Td (a) Tj ET Q q 0 0 0 rg BT 439.36 221.70 Td (t) Tj ET Q q 0 0 0 rg BT 442.60 221.70 Td (egy of the Compan) Tj ET Q q 0 0 0 rg BT 519.21 221.70 Td (y) Tj ET Q q 0 0 0 rg BT 523.07 221.70 Td (. The ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 209.70 Td (Compan) Tj ET Q q 0 0 0 rg BT 87.71 209.70 Td (y uses c) Tj ET Q q 0 0 0 rg BT 118.95 209.70 Td (on) Tj ET Q q 0 0 0 rg BT 129.31 209.70 Td (v) Tj ET Q q 0 0 0 rg BT 133.73 209.70 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 188.24 209.70 Td (tur) Tj ET Q q 0 0 0 rg BT 200.20 209.70 Td (es wher) Tj ET Q q 0 0 0 rg BT 232.08 209.70 Td (e both the in) Tj ET Q q 0 0 0 rg BT 284.00 209.70 Td (t) Tj ET Q q 0 0 0 rg BT 287.25 209.70 Td (er) Tj ET Q q 0 0 0 rg BT 295.58 209.70 Td (es) Tj ET Q q 0 0 0 rg BT 304.35 209.70 Td (t and principal ar) Tj ET Q q 0 0 0 rg BT 373.08 209.70 Td (e pa) Tj ET Q q 0 0 0 rg BT 390.17 209.70 Td (y) Tj ET Q q 0 0 0 rg BT 394.55 209.70 Td (able in shar) Tj ET Q q 0 0 0 rg BT 441.24 209.70 Td (es. The Compan) Tj ET Q q 0 0 0 rg BT 505.98 209.70 Td (y also ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 197.70 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 197.70 Td (ecy) Tj ET Q q 0 0 0 rg BT 70.96 197.70 Td (cles c) Tj ET Q q 0 0 0 rg BT 92.77 197.70 Td (apit) Tj ET Q q 0 0 0 rg BT 108.34 197.70 Td (al thr) Tj ET Q q 0 0 0 rg BT 129.62 197.70 Td (ough selectiv) Tj ET Q q 0 0 0 rg BT 182.81 197.70 Td (e disposition of full or partial in) Tj ET Q q 0 0 0 rg BT 309.42 197.70 Td (t) Tj ET Q q 0 0 0 rg BT 312.66 197.70 Td (er) Tj ET Q q 0 0 0 rg BT 320.99 197.70 Td (es) Tj ET Q q 0 0 0 rg BT 329.76 197.70 Td (ts in pr) Tj ET Q q 0 0 0 rg BT 357.67 197.70 Td (operties. Wher) Tj ET Q q 0 0 0 rg BT 418.46 197.70 Td (e it is deemed appr) Tj ET Q q 0 0 0 rg BT 496.37 197.70 Td (opria) Tj ET Q q 0 0 0 rg BT 517.38 197.70 Td (t) Tj ET Q q 0 0 0 rg BT 520.62 197.70 Td (e, the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 185.70 Td (Compan) Tj ET Q q 0 0 0 rg BT 87.71 185.70 Td (y will r) Tj ET Q q 0 0 0 rg BT 114.07 185.70 Td (aise equity t) Tj ET Q q 0 0 0 rg BT 163.47 185.70 Td (o finance its gr) Tj ET Q q 0 0 0 rg BT 222.96 185.70 Td (o) Tj ET Q q 0 0 0 rg BT 228.19 185.70 Td (w) Tj ET Q q 0 0 0 rg BT 235.36 185.70 Td (th and s) Tj ET Q q 0 0 0 rg BT 267.58 185.70 Td (tr) Tj ET Q q 0 0 0 rg BT 274.29 185.70 Td (eng) Tj ET Q q 0 0 0 rg BT 289.07 185.70 Td (then its financial position.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 167.70 Td (DBR) Tj ET Q q 0 0 0 rg BT 70.89 167.70 Td (S Limit) Tj ET Q q 0 0 0 rg BT 97.77 167.70 Td (ed \(DBR) Tj ET Q q 0 0 0 rg BT 134.37 167.70 Td (S) Tj ET Q q 0 0 0 rg BT 138.89 167.70 Td (\) has r) Tj ET Q q 0 0 0 rg BT 167.87 167.70 Td (a) Tj ET Q q 0 0 0 rg BT 172.56 167.70 Td (t) Tj ET Q q 0 0 0 rg BT 175.81 167.70 Td (ed the Compan) Tj ET Q q 0 0 0 rg BT 237.84 167.70 Td (y) Tj ET Q q 0 0 0 rg BT 242.67 167.70 Td () Tj ET Q q 0 0 0 rg BT 244.56 167.70 Td (s senior unsecur) Tj ET Q q 0 0 0 rg BT 310.42 167.70 Td (ed deben) Tj ET Q q 0 0 0 rg BT 348.53 167.70 Td (tur) Tj ET Q q 0 0 0 rg BT 360.48 167.70 Td (es as BBB \(high\), and Moody's has r) Tj ET Q q 0 0 0 rg BT 503.81 167.70 Td (a) Tj ET Q q 0 0 0 rg BT 508.51 167.70 Td (t) Tj ET Q q 0 0 0 rg BT 511.75 167.70 Td (ed these ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 155.70 Td (deben) Tj ET Q q 0 0 0 rg BT 79.62 155.70 Td (tur) Tj ET Q q 0 0 0 rg BT 91.58 155.70 Td (es as Baa2. Manag) Tj ET Q q 0 0 0 rg BT 166.57 155.70 Td (emen) Tj ET Q q 0 0 0 rg BT 189.67 155.70 Td (t belie) Tj ET Q q 0 0 0 rg BT 215.03 155.70 Td (v) Tj ET Q q 0 0 0 rg BT 219.44 155.70 Td (es tha) Tj ET Q q 0 0 0 rg BT 243.89 155.70 Td (t this, along with the quality of the Compan) Tj ET Q q 0 0 0 rg BT 419.95 155.70 Td (y) Tj ET Q q 0 0 0 rg BT 424.78 155.70 Td () Tj ET Q q 0 0 0 rg BT 426.67 155.70 Td (s r) Tj ET Q q 0 0 0 rg BT 436.19 155.70 Td (eal es) Tj ET Q q 0 0 0 rg BT 459.29 155.70 Td (t) Tj ET Q q 0 0 0 rg BT 462.52 155.70 Td (a) Tj ET Q q 0 0 0 rg BT 467.21 155.70 Td (t) Tj ET Q q 0 0 0 rg BT 470.46 155.70 Td (e portf) Tj ET Q q 0 0 0 rg BT 497.90 155.70 Td (olio and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 143.70 Td (other business a) Tj ET Q q 0 0 0 rg BT 120.32 143.70 Td (t) Tj ET Q q 0 0 0 rg BT 123.53 143.70 Td (tribut) Tj ET Q q 0 0 0 rg BT 146.41 143.70 Td (es, c) Tj ET Q q 0 0 0 rg BT 164.20 143.70 Td (on) Tj ET Q q 0 0 0 rg BT 174.63 143.70 Td (tribut) Tj ET Q q 0 0 0 rg BT 197.52 143.70 Td (e t) Tj ET Q q 0 0 0 rg BT 208.00 143.70 Td (o r) Tj ET Q q 0 0 0 rg BT 218.89 143.70 Td (educing the Compan) Tj ET Q q 0 0 0 rg BT 302.67 143.70 Td (y) Tj ET Q q 0 0 0 rg BT 307.50 143.70 Td () Tj ET Q q 0 0 0 rg BT 309.38 143.70 Td (s c) Tj ET Q q 0 0 0 rg BT 319.70 143.70 Td (os) Tj ET Q q 0 0 0 rg BT 328.77 143.70 Td (t of c) Tj ET Q q 0 0 0 rg BT 349.11 143.70 Td (apit) Tj ET Q q 0 0 0 rg BT 364.68 143.70 Td (al.) Tj ET Q endstream endobj 19 0 obj <> endobj 20 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 549.95 56.00 Td (8) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 693.00 Td (Adop) Tj ET Q q 0 0 0 rg BT 80.55 693.00 Td (tion of Ne) Tj ET Q q 0 0 0 rg BT 130.11 693.00 Td (w Acc) Tj ET Q q 0 0 0 rg BT 159.02 693.00 Td (oun) Tj ET Q q 0 0 0 rg BT 178.24 693.00 Td (ting St) Tj ET Q q 0 0 0 rg BT 209.91 693.00 Td (andar) Tj ET Q q 0 0 0 rg BT 238.75 693.00 Td (ds ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 678.00 Td (The unaudit) Tj ET Q q 0 0 0 rg BT 102.71 678.00 Td (ed in) Tj ET Q q 0 0 0 rg BT 122.65 678.00 Td (t) Tj ET Q q 0 0 0 rg BT 125.89 678.00 Td (erim c) Tj ET Q q 0 0 0 rg BT 151.05 678.00 Td (onsolida) Tj ET Q q 0 0 0 rg BT 185.30 678.00 Td (t) Tj ET Q q 0 0 0 rg BT 188.54 678.00 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 241.34 678.00 Td (t) Tj ET Q q 0 0 0 rg BT 244.57 678.00 Td (a) Tj ET Q q 0 0 0 rg BT 249.27 678.00 Td (t) Tj ET Q q 0 0 0 rg BT 252.51 678.00 Td (emen) Tj ET Q q 0 0 0 rg BT 275.61 678.00 Td (ts f) Tj ET Q q 0 0 0 rg BT 287.97 678.00 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 314.83 678.00 Td (thr) Tj ET Q q 0 0 0 rg BT 326.79 678.00 Td (ee mon) Tj ET Q q 0 0 0 rg BT 357.43 678.00 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 416.86 678.00 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.77 678.00 Td ( ha) Tj ET Q q 0 0 0 rg BT 475.90 678.00 Td (v) Tj ET Q q 0 0 0 rg BT 480.32 678.00 Td (e been pr) Tj ET Q q 0 0 0 rg BT 518.89 678.00 Td (epar) Tj ET Q q 0 0 0 rg BT 537.26 678.00 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 666.00 Td (b) Tj ET Q q 0 0 0 rg BT 59.21 666.00 Td (y applying the same acc) Tj ET Q q 0 0 0 rg BT 155.56 666.00 Td (oun) Tj ET Q q 0 0 0 rg BT 171.25 666.00 Td (ting policies and me) Tj ET Q q 0 0 0 rg BT 252.37 666.00 Td (thods of c) Tj ET Q q 0 0 0 rg BT 292.40 666.00 Td (omput) Tj ET Q q 0 0 0 rg BT 319.40 666.00 Td (a) Tj ET Q q 0 0 0 rg BT 324.10 666.00 Td (tion as c) Tj ET Q q 0 0 0 rg BT 357.64 666.00 Td (ompar) Tj ET Q q 0 0 0 rg BT 384.30 666.00 Td (ed with the mos) Tj ET Q q 0 0 0 rg BT 450.00 666.00 Td (t r) Tj ET Q q 0 0 0 rg BT 458.96 666.00 Td (ecen) Tj ET Q q 0 0 0 rg BT 478.30 666.00 Td (t audit) Tj ET Q q 0 0 0 rg BT 504.75 666.00 Td (ed annual ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 654.00 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 654.00 Td (onsolida) Tj ET Q q 0 0 0 rg BT 92.40 654.00 Td (t) Tj ET Q q 0 0 0 rg BT 95.64 654.00 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 148.44 654.00 Td (t) Tj ET Q q 0 0 0 rg BT 151.67 654.00 Td (a) Tj ET Q q 0 0 0 rg BT 156.37 654.00 Td (t) Tj ET Q q 0 0 0 rg BT 159.61 654.00 Td (emen) Tj ET Q q 0 0 0 rg BT 182.71 654.00 Td (ts. ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 631.80 Td (In) Tj ET Q q 0 0 0 rg BT 62.57 631.80 Td (ves) Tj ET Q q 0 0 0 rg BT 77.34 631.80 Td (tmen) Tj ET Q q 0 0 0 rg BT 101.10 631.80 Td (t Property \(Annual Impro) Tj ET Q q 0 0 0 rg BT 215.19 631.80 Td (vemen) Tj ET Q q 0 0 0 rg BT 245.70 631.80 Td (ts 2011-2013 Cycle\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 613.80 Td (The amended IAS 40, In) Tj ET Q q 0 0 0 rg BT 153.96 613.80 Td (v) Tj ET Q q 0 0 0 rg BT 158.38 613.80 Td (es) Tj ET Q q 0 0 0 rg BT 167.15 613.80 Td (tmen) Tj ET Q q 0 0 0 rg BT 188.63 613.80 Td (t Pr) Tj ET Q q 0 0 0 rg BT 202.73 613.80 Td (operty) Tj ET Q q 0 0 0 rg BT 229.90 613.80 Td ( \(IAS 40\) is e) Tj ET Q q 0 0 0 rg BT 291.69 613.80 Td (f) Tj ET Q q 0 0 0 rg BT 294.64 613.80 Td (f) Tj ET Q q 0 0 0 rg BT 297.45 613.80 Td (ectiv) Tj ET Q q 0 0 0 rg BT 316.71 613.80 Td (e f) Tj ET Q q 0 0 0 rg BT 326.79 613.80 Td (or annual periods a) Tj ET Q q 0 0 0 rg BT 405.15 613.80 Td (ft) Tj ET Q q 0 0 0 rg BT 411.45 613.80 Td (er July 1, 2014 and the Compan) Tj ET Q q 0 0 0 rg BT 539.16 613.80 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 601.80 Td (w) Tj ET Q q 0 0 0 rg BT 61.04 601.80 Td (as r) Tj ET Q q 0 0 0 rg BT 75.35 601.80 Td (equir) Tj ET Q q 0 0 0 rg BT 96.49 601.80 Td (ed t) Tj ET Q q 0 0 0 rg BT 112.23 601.80 Td (o apply the amendmen) Tj ET Q q 0 0 0 rg BT 206.37 601.80 Td (t pr) Tj ET Q q 0 0 0 rg BT 220.56 601.80 Td (ospectiv) Tj ET Q q 0 0 0 rg BT 254.26 601.80 Td (ely f) Tj ET Q q 0 0 0 rg BT 271.16 601.80 Td (or the fir) Tj ET Q q 0 0 0 rg BT 306.69 601.80 Td (s) Tj ET Q q 0 0 0 rg BT 310.48 601.80 Td (t time in the unaudit) Tj ET Q q 0 0 0 rg BT 393.96 601.80 Td (ed in) Tj ET Q q 0 0 0 rg BT 413.90 601.80 Td (t) Tj ET Q q 0 0 0 rg BT 417.14 601.80 Td (erim c) Tj ET Q q 0 0 0 rg BT 442.30 601.80 Td (onsolida) Tj ET Q q 0 0 0 rg BT 476.55 601.80 Td (t) Tj ET Q q 0 0 0 rg BT 479.79 601.80 Td (ed financial ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 589.80 Td (s) Tj ET Q q 0 0 0 rg BT 57.80 589.80 Td (t) Tj ET Q q 0 0 0 rg BT 61.03 589.80 Td (a) Tj ET Q q 0 0 0 rg BT 65.72 589.80 Td (t) Tj ET Q q 0 0 0 rg BT 68.97 589.80 Td (emen) Tj ET Q q 0 0 0 rg BT 92.07 589.80 Td (ts. The Compan) Tj ET Q q 0 0 0 rg BT 155.18 589.80 Td (y w) Tj ET Q q 0 0 0 rg BT 169.00 589.80 Td (as r) Tj ET Q q 0 0 0 rg BT 183.32 589.80 Td (equir) Tj ET Q q 0 0 0 rg BT 204.45 589.80 Td (ed t) Tj ET Q q 0 0 0 rg BT 220.20 589.80 Td (o adop) Tj ET Q q 0 0 0 rg BT 248.26 589.80 Td (t the amendmen) Tj ET Q q 0 0 0 rg BT 316.09 589.80 Td (t on Januar) Tj ET Q q 0 0 0 rg BT 361.30 589.80 Td (y 1, 2015. The amended IAS 40 clarifies tha) Tj ET Q q 0 0 0 rg BT 535.54 589.80 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 577.80 Td (IFR) Tj ET Q q 0 0 0 rg BT 66.41 577.80 Td (S 3, Business Combina) Tj ET Q q 0 0 0 rg BT 160.58 577.80 Td (tions \(IFR) Tj ET Q q 0 0 0 rg BT 206.74 577.80 Td (S 3\), not the descrip) Tj ET Q q 0 0 0 rg BT 291.97 577.80 Td (tion of ancillar) Tj ET Q q 0 0 0 rg BT 350.47 577.80 Td (y ser) Tj ET Q q 0 0 0 rg BT 369.73 577.80 Td (vices in IAS 40, is used t) Tj ET Q q 0 0 0 rg BT 465.15 577.80 Td (o de) Tj ET Q q 0 0 0 rg BT 482.86 577.80 Td (t) Tj ET Q q 0 0 0 rg BT 486.10 577.80 Td (ermine if the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 565.80 Td (tr) Tj ET Q q 0 0 0 rg BT 60.63 565.80 Td (ansaction is the pur) Tj ET Q q 0 0 0 rg BT 140.19 565.80 Td (chase of an asse) Tj ET Q q 0 0 0 rg BT 206.04 565.80 Td (t or a business c) Tj ET Q q 0 0 0 rg BT 270.89 565.80 Td (ombina) Tj ET Q q 0 0 0 rg BT 301.65 565.80 Td (tion. In pr) Tj ET Q q 0 0 0 rg BT 341.25 565.80 Td (e) Tj ET Q q 0 0 0 rg BT 346.18 565.80 Td (vious periods, the Compan) Tj ET Q q 0 0 0 rg BT 454.44 565.80 Td (y has r) Tj ET Q q 0 0 0 rg BT 480.80 565.80 Td (elied on IFR) Tj ET Q q 0 0 0 rg BT 528.05 565.80 Td (S 3, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 553.80 Td (not IAS 40, in de) Tj ET Q q 0 0 0 rg BT 120.18 553.80 Td (t) Tj ET Q q 0 0 0 rg BT 123.42 553.80 Td (ermining whe) Tj ET Q q 0 0 0 rg BT 179.26 553.80 Td (ther an acquisition is of an asse) Tj ET Q q 0 0 0 rg BT 306.24 553.80 Td (t or is a business acquisition. The adop) Tj ET Q q 0 0 0 rg BT 462.29 553.80 Td (tion of the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 541.80 Td (amendmen) Tj ET Q q 0 0 0 rg BT 100.39 541.80 Td (t b) Tj ET Q q 0 0 0 rg BT 111.20 541.80 Td (y the Compan) Tj ET Q q 0 0 0 rg BT 167.54 541.80 Td (y did not r) Tj ET Q q 0 0 0 rg BT 208.88 541.80 Td (esult in a ma) Tj ET Q q 0 0 0 rg BT 260.47 541.80 Td (t) Tj ET Q q 0 0 0 rg BT 263.71 541.80 Td (erial impact t) Tj ET Q q 0 0 0 rg BT 317.23 541.80 Td (o the c) Tj ET Q q 0 0 0 rg BT 344.75 541.80 Td (onsolida) Tj ET Q q 0 0 0 rg BT 379.00 541.80 Td (t) Tj ET Q q 0 0 0 rg BT 382.25 541.80 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 435.05 541.80 Td (t) Tj ET Q q 0 0 0 rg BT 438.28 541.80 Td (a) Tj ET Q q 0 0 0 rg BT 442.97 541.80 Td (t) Tj ET Q q 0 0 0 rg BT 446.22 541.80 Td (emen) Tj ET Q q 0 0 0 rg BT 469.32 541.80 Td (ts. ) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 513.00 Td (OUTL) Tj ET Q q 0 0 0 rg BT 85.21 513.00 Td (OOK AND CURRENT BUSINE) Tj ET Q q 0 0 0 rg BT 246.38 513.00 Td (SS ENVIR) Tj ET Q q 0 0 0 rg BT 298.58 513.00 Td (ONMENT) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 495.00 Td (The f) Tj ET Q q 0 0 0 rg BT 73.98 495.00 Td (or) Tj ET Q q 0 0 0 rg BT 82.59 495.00 Td (ward-looking s) Tj ET Q q 0 0 0 rg BT 142.23 495.00 Td (t) Tj ET Q q 0 0 0 rg BT 145.45 495.00 Td (at) Tj ET Q q 0 0 0 rg BT 153.83 495.00 Td (emen) Tj ET Q q 0 0 0 rg BT 176.33 495.00 Td (ts c) Tj ET Q q 0 0 0 rg BT 189.91 495.00 Td (on) Tj ET Q q 0 0 0 rg BT 200.09 495.00 Td (t) Tj ET Q q 0 0 0 rg BT 203.30 495.00 Td (ained in this section and else) Tj ET Q q 0 0 0 rg BT 319.06 495.00 Td (where in this MD&A are not his) Tj ET Q q 0 0 0 rg BT 445.50 495.00 Td (t) Tj ET Q q 0 0 0 rg BT 448.73 495.00 Td (oric) Tj ET Q q 0 0 0 rg BT 463.68 495.00 Td (al f) Tj ET Q q 0 0 0 rg BT 476.31 495.00 Td (acts but, rather) Tj ET Q q 0 0 0 rg BT 538.01 495.00 Td (, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 483.00 Td (re) Tj ET Q q 0 0 0 rg BT 62.19 483.00 Td (flect the Compan) Tj ET Q q 0 0 0 rg BT 131.12 483.00 Td (y) Tj ET Q q 0 0 0 rg BT 135.89 483.00 Td () Tj ET Q q 0 0 0 rg BT 137.83 483.00 Td (s curren) Tj ET Q q 0 0 0 rg BT 169.96 483.00 Td (t e) Tj ET Q q 0 0 0 rg BT 180.14 483.00 Td (xpect) Tj ET Q q 0 0 0 rg BT 201.76 483.00 Td (ations regarding future results or e) Tj ET Q q 0 0 0 rg BT 342.58 483.00 Td (ven) Tj ET Q q 0 0 0 rg BT 356.86 483.00 Td (ts and are based on inf) Tj ET Q q 0 0 0 rg BT 448.90 483.00 Td (ormation curren) Tj ET Q q 0 0 0 rg BT 514.67 483.00 Td (tly ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 471.00 Td (available t) Tj ET Q q 0 0 0 rg BT 96.17 471.00 Td (o Managemen) Tj ET Q q 0 0 0 rg BT 155.19 471.00 Td (t. Cert) Tj ET Q q 0 0 0 rg BT 179.96 471.00 Td (ain mat) Tj ET Q q 0 0 0 rg BT 211.09 471.00 Td (erial f) Tj ET Q q 0 0 0 rg BT 234.22 471.00 Td (act) Tj ET Q q 0 0 0 rg BT 246.75 471.00 Td (ors and assump) Tj ET Q q 0 0 0 rg BT 310.22 471.00 Td (tions were applied in pro) Tj ET Q q 0 0 0 rg BT 410.23 471.00 Td (viding these f) Tj ET Q q 0 0 0 rg BT 464.08 471.00 Td (or) Tj ET Q q 0 0 0 rg BT 472.69 471.00 Td (ward-looking ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 459.00 Td (s) Tj ET Q q 0 0 0 rg BT 57.78 459.00 Td (t) Tj ET Q q 0 0 0 rg BT 60.99 459.00 Td (at) Tj ET Q q 0 0 0 rg BT 69.38 459.00 Td (emen) Tj ET Q q 0 0 0 rg BT 91.88 459.00 Td (ts. R) Tj ET Q q 0 0 0 rg BT 109.16 459.00 Td (e) Tj ET Q q 0 0 0 rg BT 113.93 459.00 Td (f) Tj ET Q q 0 0 0 rg BT 116.82 459.00 Td (er t) Tj ET Q q 0 0 0 rg BT 130.51 459.00 Td (o the ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 153.43 459.00 Td (F) Tj ET Q q 0 0 0 rg BT 162.06 459.00 Td (or) Tj ET Q q 0 0 0 rg BT 170.67 459.00 Td (ward-Looking St) Tj ET Q q 0 0 0 rg BT 236.18 459.00 Td (at) Tj ET Q q 0 0 0 rg BT 244.56 459.00 Td (emen) Tj ET Q q 0 0 0 rg BT 267.07 459.00 Td (t Advisor) Tj ET Q q 0 0 0 rg BT 302.86 459.00 Td (y) Tj ET Q q 0 0 0 rg BT 307.63 459.00 Td () Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 311.82 459.00 Td ( section of this MD&A) Tj ET Q q 0 0 0 rg BT 399.83 459.00 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 441.00 Td (Since 2001, Fir) Tj ET Q q 0 0 0 rg BT 112.84 441.00 Td (s) Tj ET Q q 0 0 0 rg BT 116.64 441.00 Td (t Capit) Tj ET Q q 0 0 0 rg BT 143.15 441.00 Td (al R) Tj ET Q q 0 0 0 rg BT 157.75 441.00 Td (ealty has success) Tj ET Q q 0 0 0 rg BT 226.49 441.00 Td (fully gr) Tj ET Q q 0 0 0 rg BT 254.21 441.00 Td (o) Tj ET Q q 0 0 0 rg BT 259.44 441.00 Td (wn its business acr) Tj ET Q q 0 0 0 rg BT 335.29 441.00 Td (oss the c) Tj ET Q q 0 0 0 rg BT 370.63 441.00 Td (oun) Tj ET Q q 0 0 0 rg BT 386.32 441.00 Td (tr) Tj ET Q q 0 0 0 rg BT 393.20 441.00 Td (y) Tj ET Q q 0 0 0 rg BT 397.02 441.00 Td (, f) Tj ET Q q 0 0 0 rg BT 404.62 441.00 Td (ocusing on k) Tj ET Q q 0 0 0 rg BT 454.81 441.00 Td (e) Tj ET Q q 0 0 0 rg BT 459.72 441.00 Td (y urban mark) Tj ET Q q 0 0 0 rg BT 513.30 441.00 Td (e) Tj ET Q q 0 0 0 rg BT 518.22 441.00 Td (ts, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 429.00 Td (dr) Tj ET Q q 0 0 0 rg BT 62.54 429.00 Td (ama) Tj ET Q q 0 0 0 rg BT 80.01 429.00 Td (tic) Tj ET Q q 0 0 0 rg BT 89.80 429.00 Td (ally enhancing the quality of its portf) Tj ET Q q 0 0 0 rg BT 238.71 429.00 Td (olio and g) Tj ET Q q 0 0 0 rg BT 278.29 429.00 Td (ener) Tj ET Q q 0 0 0 rg BT 296.78 429.00 Td (a) Tj ET Q q 0 0 0 rg BT 301.48 429.00 Td (ting modes) Tj ET Q q 0 0 0 rg BT 346.63 429.00 Td (t accr) Tj ET Q q 0 0 0 rg BT 368.84 429.00 Td (e) Tj ET Q q 0 0 0 rg BT 373.77 429.00 Td (tion in funds fr) Tj ET Q q 0 0 0 rg BT 433.37 429.00 Td (om oper) Tj ET Q q 0 0 0 rg BT 467.68 429.00 Td (a) Tj ET Q q 0 0 0 rg BT 472.37 429.00 Td (tions, while ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 417.00 Td (success) Tj ET Q q 0 0 0 rg BT 84.33 417.00 Td (fully r) Tj ET Q q 0 0 0 rg BT 107.36 417.00 Td (educing le) Tj ET Q q 0 0 0 rg BT 148.81 417.00 Td (v) Tj ET Q q 0 0 0 rg BT 153.23 417.00 Td (er) Tj ET Q q 0 0 0 rg BT 161.49 417.00 Td (ag) Tj ET Q q 0 0 0 rg BT 170.90 417.00 Td (e and achie) Tj ET Q q 0 0 0 rg BT 217.19 417.00 Td (ving an in) Tj ET Q q 0 0 0 rg BT 255.91 417.00 Td (v) Tj ET Q q 0 0 0 rg BT 260.33 417.00 Td (es) Tj ET Q q 0 0 0 rg BT 269.11 417.00 Td (tmen) Tj ET Q q 0 0 0 rg BT 290.58 417.00 Td (t gr) Tj ET Q q 0 0 0 rg BT 304.18 417.00 Td (ade cr) Tj ET Q q 0 0 0 rg BT 329.04 417.00 Td (edit r) Tj ET Q q 0 0 0 rg BT 350.46 417.00 Td (a) Tj ET Q q 0 0 0 rg BT 355.16 417.00 Td (ting. The Compan) Tj ET Q q 0 0 0 rg BT 426.62 417.00 Td (y e) Tj ET Q q 0 0 0 rg BT 438.23 417.00 Td (xpects t) Tj ET Q q 0 0 0 rg BT 469.79 417.00 Td (o c) Tj ET Q q 0 0 0 rg BT 481.47 417.00 Td (on) Tj ET Q q 0 0 0 rg BT 491.91 417.00 Td (tinue t) Tj ET Q q 0 0 0 rg BT 518.55 417.00 Td (o gr) Tj ET Q q 0 0 0 rg BT 534.11 417.00 Td (o) Tj ET Q q 0 0 0 rg BT 539.35 417.00 Td (w ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 405.00 Td (its business and portf) Tj ET Q q 0 0 0 rg BT 140.61 405.00 Td (olio of high quality pr) Tj ET Q q 0 0 0 rg BT 226.96 405.00 Td (operties in urban mark) Tj ET Q q 0 0 0 rg BT 319.34 405.00 Td (e) Tj ET Q q 0 0 0 rg BT 324.26 405.00 Td (ts in Canada and in line with its long-t) Tj ET Q q 0 0 0 rg BT 476.47 405.00 Td (erm v) Tj ET Q q 0 0 0 rg BT 499.55 405.00 Td (alue ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 393.00 Td (cr) Tj ET Q q 0 0 0 rg BT 61.58 393.00 Td (ea) Tj ET Q q 0 0 0 rg BT 71.26 393.00 Td (tion s) Tj ET Q q 0 0 0 rg BT 93.49 393.00 Td (tr) Tj ET Q q 0 0 0 rg BT 100.12 393.00 Td (a) Tj ET Q q 0 0 0 rg BT 104.82 393.00 Td (t) Tj ET Q q 0 0 0 rg BT 108.06 393.00 Td (egy) Tj ET Q q 0 0 0 rg BT 121.61 393.00 Td (. The Compan) Tj ET Q q 0 0 0 rg BT 177.46 393.00 Td (y de) Tj ET Q q 0 0 0 rg BT 194.39 393.00 Td (fines a high quality pr) Tj ET Q q 0 0 0 rg BT 281.56 393.00 Td (operty primarily b) Tj ET Q q 0 0 0 rg BT 354.57 393.00 Td (y its loc) Tj ET Q q 0 0 0 rg BT 384.89 393.00 Td (a) Tj ET Q q 0 0 0 rg BT 389.59 393.00 Td (tion, t) Tj ET Q q 0 0 0 rg BT 413.74 393.00 Td (aking in) Tj ET Q q 0 0 0 rg BT 445.05 393.00 Td (t) Tj ET Q q 0 0 0 rg BT 448.30 393.00 Td (o c) Tj ET Q q 0 0 0 rg BT 459.98 393.00 Td (onsider) Tj ET Q q 0 0 0 rg BT 490.23 393.00 Td (a) Tj ET Q q 0 0 0 rg BT 494.92 393.00 Td (tion the loc) Tj ET Q q 0 0 0 rg BT 540.91 393.00 Td (al ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 381.00 Td (demogr) Tj ET Q q 0 0 0 rg BT 85.48 381.00 Td (aphics and the r) Tj ET Q q 0 0 0 rg BT 150.23 381.00 Td (e) Tj ET Q q 0 0 0 rg BT 155.15 381.00 Td (t) Tj ET Q q 0 0 0 rg BT 158.38 381.00 Td (ail supply and demand f) Tj ET Q q 0 0 0 rg BT 254.96 381.00 Td (act) Tj ET Q q 0 0 0 rg BT 267.23 381.00 Td (or) Tj ET Q q 0 0 0 rg BT 275.82 381.00 Td (s in each pr) Tj ET Q q 0 0 0 rg BT 321.89 381.00 Td (operty tr) Tj ET Q q 0 0 0 rg BT 357.65 381.00 Td (ade ar) Tj ET Q q 0 0 0 rg BT 383.07 381.00 Td (ea, and the ability t) Tj ET Q q 0 0 0 rg BT 461.31 381.00 Td (o gr) Tj ET Q q 0 0 0 rg BT 476.88 381.00 Td (o) Tj ET Q q 0 0 0 rg BT 482.11 381.00 Td (w the pr) Tj ET Q q 0 0 0 rg BT 515.94 381.00 Td (operty ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 369.00 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 369.00 Td (ash flo) Tj ET Q q 0 0 0 rg BT 84.94 369.00 Td (w) Tj ET Q q 0 0 0 rg BT 91.45 369.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 351.00 Td (Changing Consumer Habits) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 333.00 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 333.00 Td (y c) Tj ET Q q 0 0 0 rg BT 116.00 333.00 Td (on) Tj ET Q q 0 0 0 rg BT 126.44 333.00 Td (tinues t) Tj ET Q q 0 0 0 rg BT 156.99 333.00 Td (o ob) Tj ET Q q 0 0 0 rg BT 175.00 333.00 Td (ser) Tj ET Q q 0 0 0 rg BT 187.47 333.00 Td (v) Tj ET Q q 0 0 0 rg BT 191.89 333.00 Td (e se) Tj ET Q q 0 0 0 rg BT 207.96 333.00 Td (v) Tj ET Q q 0 0 0 rg BT 212.38 333.00 Td (er) Tj ET Q q 0 0 0 rg BT 220.64 333.00 Td (al demogr) Tj ET Q q 0 0 0 rg BT 261.46 333.00 Td (aphic and other tr) Tj ET Q q 0 0 0 rg BT 334.41 333.00 Td (ends tha) Tj ET Q q 0 0 0 rg BT 369.36 333.00 Td (t ma) Tj ET Q q 0 0 0 rg BT 387.56 333.00 Td (y a) Tj ET Q q 0 0 0 rg BT 399.08 333.00 Td (f) Tj ET Q q 0 0 0 rg BT 402.04 333.00 Td (f) Tj ET Q q 0 0 0 rg BT 404.84 333.00 Td (ect demand f) Tj ET Q q 0 0 0 rg BT 458.27 333.00 Td (or r) Tj ET Q q 0 0 0 rg BT 472.65 333.00 Td (e) Tj ET Q q 0 0 0 rg BT 477.57 333.00 Td (t) Tj ET Q q 0 0 0 rg BT 480.80 333.00 Td (ail g) Tj ET Q q 0 0 0 rg BT 497.08 333.00 Td (oods and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 321.00 Td (ser) Tj ET Q q 0 0 0 rg BT 66.47 321.00 Td (vices, including an incr) Tj ET Q q 0 0 0 rg BT 157.68 321.00 Td (easing r) Tj ET Q q 0 0 0 rg BT 189.23 321.00 Td (eliance b) Tj ET Q q 0 0 0 rg BT 225.51 321.00 Td (y c) Tj ET Q q 0 0 0 rg BT 236.44 321.00 Td (onsumer) Tj ET Q q 0 0 0 rg BT 272.41 321.00 Td (s on online in) Tj ET Q q 0 0 0 rg BT 326.47 321.00 Td (f) Tj ET Q q 0 0 0 rg BT 329.31 321.00 Td (orma) Tj ET Q q 0 0 0 rg BT 350.76 321.00 Td (tion t) Tj ET Q q 0 0 0 rg BT 372.44 321.00 Td (o in) Tj ET Q q 0 0 0 rg BT 387.47 321.00 Td (fluence their pur) Tj ET Q q 0 0 0 rg BT 455.23 321.00 Td (chasing decisions and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 309.00 Td (an incr) Tj ET Q q 0 0 0 rg BT 81.44 309.00 Td (easing desir) Tj ET Q q 0 0 0 rg BT 129.42 309.00 Td (e t) Tj ET Q q 0 0 0 rg BT 139.91 309.00 Td (o pur) Tj ET Q q 0 0 0 rg BT 161.29 309.00 Td (chase pr) Tj ET Q q 0 0 0 rg BT 195.29 309.00 Td (oducts online, as w) Tj ET Q q 0 0 0 rg BT 272.95 309.00 Td (ell as an aging popula) Tj ET Q q 0 0 0 rg BT 360.08 309.00 Td (tion which is incr) Tj ET Q q 0 0 0 rg BT 428.55 309.00 Td (easingly f) Tj ET Q q 0 0 0 rg BT 466.41 309.00 Td (ocused on ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 297.00 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 297.00 Td (on) Tj ET Q q 0 0 0 rg BT 68.51 297.00 Td (v) Tj ET Q q 0 0 0 rg BT 72.93 297.00 Td (enience and health-r) Tj ET Q q 0 0 0 rg BT 157.04 297.00 Td (ela) Tj ET Q q 0 0 0 rg BT 169.00 297.00 Td (t) Tj ET Q q 0 0 0 rg BT 172.25 297.00 Td (ed g) Tj ET Q q 0 0 0 rg BT 189.38 297.00 Td (oods and ser) Tj ET Q q 0 0 0 rg BT 241.37 297.00 Td (vices. Ther) Tj ET Q q 0 0 0 rg BT 284.54 297.00 Td (e is also a shift in c) Tj ET Q q 0 0 0 rg BT 359.90 297.00 Td (onsumer demand driv) Tj ET Q q 0 0 0 rg BT 449.54 297.00 Td (en b) Tj ET Q q 0 0 0 rg BT 467.23 297.00 Td (y pock) Tj ET Q q 0 0 0 rg BT 493.00 297.00 Td (e) Tj ET Q q 0 0 0 rg BT 497.92 297.00 Td (ts of e) Tj ET Q q 0 0 0 rg BT 522.95 297.00 Td (thnic ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 285.00 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 285.00 Td (onsumer) Tj ET Q q 0 0 0 rg BT 94.12 285.00 Td (s as a r) Tj ET Q q 0 0 0 rg BT 121.66 285.00 Td (esult of Canada) Tj ET Q q 0 0 0 rg BT 186.38 285.00 Td (s immigr) Tj ET Q q 0 0 0 rg BT 221.11 285.00 Td (a) Tj ET Q q 0 0 0 rg BT 225.81 285.00 Td (tion policies. Another tr) Tj ET Q q 0 0 0 rg BT 321.90 285.00 Td (end tha) Tj ET Q q 0 0 0 rg BT 352.94 285.00 Td (t Manag) Tj ET Q q 0 0 0 rg BT 386.56 285.00 Td (emen) Tj ET Q q 0 0 0 rg BT 409.66 285.00 Td (t ob) Tj ET Q q 0 0 0 rg BT 425.75 285.00 Td (ser) Tj ET Q q 0 0 0 rg BT 438.21 285.00 Td (v) Tj ET Q q 0 0 0 rg BT 442.63 285.00 Td (es is a desir) Tj ET Q q 0 0 0 rg BT 489.09 285.00 Td (e f) Tj ET Q q 0 0 0 rg BT 499.17 285.00 Td (or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 273.00 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 273.00 Td (onsumer) Tj ET Q q 0 0 0 rg BT 94.12 273.00 Td (s t) Tj ET Q q 0 0 0 rg BT 103.54 273.00 Td (o liv) Tj ET Q q 0 0 0 rg BT 120.08 273.00 Td (e in urban mark) Tj ET Q q 0 0 0 rg BT 183.92 273.00 Td (e) Tj ET Q q 0 0 0 rg BT 188.84 273.00 Td (ts and t) Tj ET Q q 0 0 0 rg BT 219.17 273.00 Td (o c) Tj ET Q q 0 0 0 rg BT 230.85 273.00 Td (onnect with other) Tj ET Q q 0 0 0 rg BT 303.92 273.00 Td (s thr) Tj ET Q q 0 0 0 rg BT 322.02 273.00 Td (ough daily or fr) Tj ET Q q 0 0 0 rg BT 383.62 273.00 Td (equen) Tj ET Q q 0 0 0 rg BT 409.24 273.00 Td (t trip) Tj ET Q q 0 0 0 rg BT 429.19 273.00 Td (s t) Tj ET Q q 0 0 0 rg BT 438.61 273.00 Td (o the gr) Tj ET Q q 0 0 0 rg BT 470.02 273.00 Td (ocer) Tj ET Q q 0 0 0 rg BT 488.03 273.00 Td (y s) Tj ET Q q 0 0 0 rg BT 498.61 273.00 Td (t) Tj ET Q q 0 0 0 rg BT 501.87 273.00 Td (or) Tj ET Q q 0 0 0 rg BT 510.49 273.00 Td (e, fitness ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 261.00 Td (cen) Tj ET Q q 0 0 0 rg BT 68.37 261.00 Td (tr) Tj ET Q q 0 0 0 rg BT 75.07 261.00 Td (es, c) Tj ET Q q 0 0 0 rg BT 92.86 261.00 Td (of) Tj ET Q q 0 0 0 rg BT 101.08 261.00 Td (f) Tj ET Q q 0 0 0 rg BT 103.89 261.00 Td (ee shop) Tj ET Q q 0 0 0 rg BT 135.74 261.00 Td (s and/) Tj ET Q q 0 0 0 rg BT 160.90 261.00 Td (or r) Tj ET Q q 0 0 0 rg BT 175.28 261.00 Td (es) Tj ET Q q 0 0 0 rg BT 184.05 261.00 Td (t) Tj ET Q q 0 0 0 rg BT 187.28 261.00 Td (aur) Tj ET Q q 0 0 0 rg BT 200.61 261.00 Td (an) Tj ET Q q 0 0 0 rg BT 210.56 261.00 Td (ts. Manag) Tj ET Q q 0 0 0 rg BT 250.61 261.00 Td (emen) Tj ET Q q 0 0 0 rg BT 273.71 261.00 Td (t is pr) Tj ET Q q 0 0 0 rg BT 296.37 261.00 Td (oactiv) Tj ET Q q 0 0 0 rg BT 320.72 261.00 Td (ely r) Tj ET Q q 0 0 0 rg BT 338.14 261.00 Td (esponding t) Tj ET Q q 0 0 0 rg BT 385.83 261.00 Td (o these c) Tj ET Q q 0 0 0 rg BT 422.23 261.00 Td (onsumer chang) Tj ET Q q 0 0 0 rg BT 484.79 261.00 Td (es thr) Tj ET Q q 0 0 0 rg BT 507.86 261.00 Td (ough its ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 249.00 Td (t) Tj ET Q q 0 0 0 rg BT 57.24 249.00 Td (enan) Tj ET Q q 0 0 0 rg BT 77.42 249.00 Td (t mix, unit siz) Tj ET Q q 0 0 0 rg BT 130.75 249.00 Td (es and shopping cen) Tj ET Q q 0 0 0 rg BT 213.28 249.00 Td (tr) Tj ET Q q 0 0 0 rg BT 219.99 249.00 Td (e loc) Tj ET Q q 0 0 0 rg BT 238.94 249.00 Td (a) Tj ET Q q 0 0 0 rg BT 243.63 249.00 Td (tions and designs. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 231.00 Td (E) Tj ET Q q 0 0 0 rg BT 58.62 231.00 Td (v) Tj ET Q q 0 0 0 rg BT 63.26 231.00 Td (olving R) Tj ET Q q 0 0 0 rg BT 96.13 231.00 Td (e) Tj ET Q q 0 0 0 rg BT 101.09 231.00 Td (t) Tj ET Q q 0 0 0 rg BT 104.46 231.00 Td (ail Landsc) Tj ET Q q 0 0 0 rg BT 144.59 231.00 Td (ape) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 213.00 Td (Ov) Tj ET Q q 0 0 0 rg BT 65.04 213.00 Td (er the pas) Tj ET Q q 0 0 0 rg BT 105.45 213.00 Td (t se) Tj ET Q q 0 0 0 rg BT 119.89 213.00 Td (v) Tj ET Q q 0 0 0 rg BT 124.31 213.00 Td (er) Tj ET Q q 0 0 0 rg BT 132.57 213.00 Td (al y) Tj ET Q q 0 0 0 rg BT 146.32 213.00 Td (ear) Tj ET Q q 0 0 0 rg BT 159.40 213.00 Td (s, the Compan) Tj ET Q q 0 0 0 rg BT 217.61 213.00 Td (y has ob) Tj ET Q q 0 0 0 rg BT 251.09 213.00 Td (ser) Tj ET Q q 0 0 0 rg BT 263.56 213.00 Td (v) Tj ET Q q 0 0 0 rg BT 267.98 213.00 Td (ed an incr) Tj ET Q q 0 0 0 rg BT 307.91 213.00 Td (ease in en) Tj ET Q q 0 0 0 rg BT 348.77 213.00 Td (tr) Tj ET Q q 0 0 0 rg BT 355.65 213.00 Td (y and/) Tj ET Q q 0 0 0 rg BT 381.43 213.00 Td (or e) Tj ET Q q 0 0 0 rg BT 397.27 213.00 Td (xpansion in) Tj ET Q q 0 0 0 rg BT 443.35 213.00 Td (t) Tj ET Q q 0 0 0 rg BT 446.60 213.00 Td (o the Canadian ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 201.00 Td (mark) Tj ET Q q 0 0 0 rg BT 74.49 201.00 Td (e) Tj ET Q q 0 0 0 rg BT 79.41 201.00 Td (tplace b) Tj ET Q q 0 0 0 rg BT 111.77 201.00 Td (y se) Tj ET Q q 0 0 0 rg BT 127.39 201.00 Td (v) Tj ET Q q 0 0 0 rg BT 131.81 201.00 Td (er) Tj ET Q q 0 0 0 rg BT 140.07 201.00 Td (al major U) Tj ET Q q 0 0 0 rg BT 181.85 201.00 Td (.S. r) Tj ET Q q 0 0 0 rg BT 197.11 201.00 Td (e) Tj ET Q q 0 0 0 rg BT 202.03 201.00 Td (t) Tj ET Q q 0 0 0 rg BT 205.25 201.00 Td (ailer) Tj ET Q q 0 0 0 rg BT 222.93 201.00 Td (s including Whole F) Tj ET Q q 0 0 0 rg BT 301.61 201.00 Td (oods Mark) Tj ET Q q 0 0 0 rg BT 344.63 201.00 Td (e) Tj ET Q q 0 0 0 rg BT 349.55 201.00 Td (t, W) Tj ET Q q 0 0 0 rg BT 366.21 201.00 Td (almart, Mar) Tj ET Q q 0 0 0 rg BT 414.32 201.00 Td (shalls, and other) Tj ET Q q 0 0 0 rg BT 481.26 201.00 Td (s. Additionally) Tj ET Q q 0 0 0 rg BT 537.91 201.00 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 189.00 Td (ther) Tj ET Q q 0 0 0 rg BT 70.93 189.00 Td (e w) Tj ET Q q 0 0 0 rg BT 85.23 189.00 Td (er) Tj ET Q q 0 0 0 rg BT 93.56 189.00 Td (e tw) Tj ET Q q 0 0 0 rg BT 111.20 189.00 Td (o major c) Tj ET Q q 0 0 0 rg BT 149.07 189.00 Td (orpor) Tj ET Q q 0 0 0 rg BT 171.64 189.00 Td (a) Tj ET Q q 0 0 0 rg BT 176.34 189.00 Td (t) Tj ET Q q 0 0 0 rg BT 179.58 189.00 Td (e tr) Tj ET Q q 0 0 0 rg BT 193.45 189.00 Td (ansactions in) Tj ET Q q 0 0 0 rg BT 246.15 189.00 Td (v) Tj ET Q q 0 0 0 rg BT 250.57 189.00 Td (olving f) Tj ET Q q 0 0 0 rg BT 280.02 189.00 Td (our of the Compan) Tj ET Q q 0 0 0 rg BT 356.42 189.00 Td (y's t) Tj ET Q q 0 0 0 rg BT 372.57 189.00 Td (enan) Tj ET Q q 0 0 0 rg BT 392.75 189.00 Td (ts: the pur) Tj ET Q q 0 0 0 rg BT 434.63 189.00 Td (chase of Shopper) Tj ET Q q 0 0 0 rg BT 504.56 189.00 Td (s Drug ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 177.00 Td (Mart b) Tj ET Q q 0 0 0 rg BT 81.64 177.00 Td (y Lobla) Tj ET Q q 0 0 0 rg BT 110.18 177.00 Td (w and the pur) Tj ET Q q 0 0 0 rg BT 166.83 177.00 Td (chase of Sa) Tj ET Q q 0 0 0 rg BT 212.16 177.00 Td (f) Tj ET Q q 0 0 0 rg BT 214.97 177.00 Td (e) Tj ET Q q 0 0 0 rg BT 219.89 177.00 Td (w) Tj ET Q q 0 0 0 rg BT 226.93 177.00 Td (a) Tj ET Q q 0 0 0 rg BT 231.53 177.00 Td (y Canada b) Tj ET Q q 0 0 0 rg BT 276.00 177.00 Td (y Sobe) Tj ET Q q 0 0 0 rg BT 302.82 177.00 Td (y) Tj ET Q q 0 0 0 rg BT 307.25 177.00 Td (s. Although this r) Tj ET Q q 0 0 0 rg BT 375.81 177.00 Td (epositioning r) Tj ET Q q 0 0 0 rg BT 431.56 177.00 Td (esult) Tj ET Q q 0 0 0 rg BT 451.24 177.00 Td (ed in ne) Tj ET Q q 0 0 0 rg BT 483.72 177.00 Td (w opportunities ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 165.00 Td (f) Tj ET Q q 0 0 0 rg BT 56.84 165.00 Td (or the Compan) Tj ET Q q 0 0 0 rg BT 117.41 165.00 Td (y) Tj ET Q q 0 0 0 rg BT 121.22 165.00 Td (, it also r) Tj ET Q q 0 0 0 rg BT 155.77 165.00 Td (esult) Tj ET Q q 0 0 0 rg BT 175.45 165.00 Td (ed in an incr) Tj ET Q q 0 0 0 rg BT 225.18 165.00 Td (easingly c) Tj ET Q q 0 0 0 rg BT 264.34 165.00 Td (ompe) Tj ET Q q 0 0 0 rg BT 287.78 165.00 Td (titiv) Tj ET Q q 0 0 0 rg BT 303.49 165.00 Td (e r) Tj ET Q q 0 0 0 rg BT 314.08 165.00 Td (e) Tj ET Q q 0 0 0 rg BT 319.00 165.00 Td (t) Tj ET Q q 0 0 0 rg BT 322.23 165.00 Td (ail landsc) Tj ET Q q 0 0 0 rg BT 359.52 165.00 Td (ape in Canada. Ov) Tj ET Q q 0 0 0 rg BT 432.64 165.00 Td (er the pas) Tj ET Q q 0 0 0 rg BT 473.05 165.00 Td (t se) Tj ET Q q 0 0 0 rg BT 487.50 165.00 Td (v) Tj ET Q q 0 0 0 rg BT 491.92 165.00 Td (er) Tj ET Q q 0 0 0 rg BT 500.17 165.00 Td (al mon) Tj ET Q q 0 0 0 rg BT 527.94 165.00 Td (ths, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 153.00 Td (a number of r) Tj ET Q q 0 0 0 rg BT 109.46 153.00 Td (e) Tj ET Q q 0 0 0 rg BT 114.39 153.00 Td (t) Tj ET Q q 0 0 0 rg BT 117.61 153.00 Td (ailer) Tj ET Q q 0 0 0 rg BT 135.28 153.00 Td (s ha) Tj ET Q q 0 0 0 rg BT 151.33 153.00 Td (v) Tj ET Q q 0 0 0 rg BT 155.75 153.00 Td (e announced s) Tj ET Q q 0 0 0 rg BT 214.59 153.00 Td (t) Tj ET Q q 0 0 0 rg BT 217.84 153.00 Td (or) Tj ET Q q 0 0 0 rg BT 226.47 153.00 Td (e closur) Tj ET Q q 0 0 0 rg BT 258.02 153.00 Td (es and/) Tj ET Q q 0 0 0 rg BT 288.16 153.00 Td (or bankrup) Tj ET Q q 0 0 0 rg BT 332.97 153.00 Td (t) Tj ET Q q 0 0 0 rg BT 336.20 153.00 Td (cies, including Me) Tj ET Q q 0 0 0 rg BT 408.83 153.00 Td (xx, Futur) Tj ET Q q 0 0 0 rg BT 444.06 153.00 Td (e Shop and T) Tj ET Q q 0 0 0 rg BT 495.58 153.00 Td (ar) Tj ET Q q 0 0 0 rg BT 503.72 153.00 Td (g) Tj ET Q q 0 0 0 rg BT 508.35 153.00 Td (e) Tj ET Q q 0 0 0 rg BT 513.27 153.00 Td (t. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 141.00 Td (Although the Compan) Tj ET Q q 0 0 0 rg BT 142.98 141.00 Td (y) Tj ET Q q 0 0 0 rg BT 147.81 141.00 Td () Tj ET Q q 0 0 0 rg BT 149.69 141.00 Td (s e) Tj ET Q q 0 0 0 rg BT 160.69 141.00 Td (xposur) Tj ET Q q 0 0 0 rg BT 188.07 141.00 Td (e t) Tj ET Q q 0 0 0 rg BT 198.56 141.00 Td (o these r) Tj ET Q q 0 0 0 rg BT 234.17 141.00 Td (e) Tj ET Q q 0 0 0 rg BT 239.09 141.00 Td (t) Tj ET Q q 0 0 0 rg BT 242.32 141.00 Td (ailer) Tj ET Q q 0 0 0 rg BT 259.99 141.00 Td (s is limit) Tj ET Q q 0 0 0 rg BT 292.75 141.00 Td (ed, these s) Tj ET Q q 0 0 0 rg BT 336.26 141.00 Td (t) Tj ET Q q 0 0 0 rg BT 339.51 141.00 Td (or) Tj ET Q q 0 0 0 rg BT 348.14 141.00 Td (e closur) Tj ET Q q 0 0 0 rg BT 379.69 141.00 Td (es will, in the short t) Tj ET Q q 0 0 0 rg BT 462.05 141.00 Td (erm, r) Tj ET Q q 0 0 0 rg BT 486.61 141.00 Td (esult in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 129.00 Td (incr) Tj ET Q q 0 0 0 rg BT 69.13 129.00 Td (eased a) Tj ET Q q 0 0 0 rg BT 99.92 129.00 Td (v) Tj ET Q q 0 0 0 rg BT 104.29 129.00 Td (ailability of r) Tj ET Q q 0 0 0 rg BT 154.68 129.00 Td (e) Tj ET Q q 0 0 0 rg BT 159.60 129.00 Td (t) Tj ET Q q 0 0 0 rg BT 162.83 129.00 Td (ail space acr) Tj ET Q q 0 0 0 rg BT 212.23 129.00 Td (oss Canada and ha) Tj ET Q q 0 0 0 rg BT 287.50 129.00 Td (v) Tj ET Q q 0 0 0 rg BT 291.92 129.00 Td (e the pot) Tj ET Q q 0 0 0 rg BT 328.76 129.00 Td (en) Tj ET Q q 0 0 0 rg BT 338.90 129.00 Td (tial t) Tj ET Q q 0 0 0 rg BT 357.14 129.00 Td (o impact r) Tj ET Q q 0 0 0 rg BT 398.19 129.00 Td (e) Tj ET Q q 0 0 0 rg BT 403.12 129.00 Td (t) Tj ET Q q 0 0 0 rg BT 406.34 129.00 Td (ail r) Tj ET Q q 0 0 0 rg BT 421.34 129.00 Td (en) Tj ET Q q 0 0 0 rg BT 431.48 129.00 Td (t) Tj ET Q q 0 0 0 rg BT 434.70 129.00 Td (al r) Tj ET Q q 0 0 0 rg BT 447.33 129.00 Td (a) Tj ET Q q 0 0 0 rg BT 452.03 129.00 Td (t) Tj ET Q q 0 0 0 rg BT 455.27 129.00 Td (es and leasing ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 117.00 Td (fundamen) Tj ET Q q 0 0 0 rg BT 95.73 117.00 Td (t) Tj ET Q q 0 0 0 rg BT 98.96 117.00 Td (als.) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (9) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 694.50 Td (As a r) Tj ET Q q 0 0 0 rg BT 76.36 694.50 Td (esult of these ong) Tj ET Q q 0 0 0 rg BT 148.89 694.50 Td (oing chang) Tj ET Q q 0 0 0 rg BT 192.83 694.50 Td (es, the Compan) Tj ET Q q 0 0 0 rg BT 256.02 694.50 Td (y r) Tj ET Q q 0 0 0 rg BT 266.16 694.50 Td (emains highly f) Tj ET Q q 0 0 0 rg BT 327.07 694.50 Td (ocused on ensuring the c) Tj ET Q q 0 0 0 rg BT 428.39 694.50 Td (ompe) Tj ET Q q 0 0 0 rg BT 451.83 694.50 Td (titiv) Tj ET Q q 0 0 0 rg BT 467.54 694.50 Td (e position of its ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 682.50 Td (shopping cen) Tj ET Q q 0 0 0 rg BT 107.83 682.50 Td (tr) Tj ET Q q 0 0 0 rg BT 114.53 682.50 Td (es in all of its v) Tj ET Q q 0 0 0 rg BT 173.90 682.50 Td (arious r) Tj ET Q q 0 0 0 rg BT 204.53 682.50 Td (e) Tj ET Q q 0 0 0 rg BT 209.45 682.50 Td (t) Tj ET Q q 0 0 0 rg BT 212.68 682.50 Td (ail tr) Tj ET Q q 0 0 0 rg BT 230.95 682.50 Td (ade ar) Tj ET Q q 0 0 0 rg BT 256.37 682.50 Td (eas. Manag) Tj ET Q q 0 0 0 rg BT 302.84 682.50 Td (emen) Tj ET Q q 0 0 0 rg BT 325.94 682.50 Td (t will c) Tj ET Q q 0 0 0 rg BT 351.99 682.50 Td (on) Tj ET Q q 0 0 0 rg BT 362.43 682.50 Td (tinue t) Tj ET Q q 0 0 0 rg BT 389.07 682.50 Td (o closely f) Tj ET Q q 0 0 0 rg BT 429.21 682.50 Td (ollo) Tj ET Q q 0 0 0 rg BT 444.31 682.50 Td (w demogr) Tj ET Q q 0 0 0 rg BT 485.20 682.50 Td (aphic and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 670.50 Td (shopping tr) Tj ET Q q 0 0 0 rg BT 100.17 670.50 Td (ends as w) Tj ET Q q 0 0 0 rg BT 139.84 670.50 Td (ell as r) Tj ET Q q 0 0 0 rg BT 165.99 670.50 Td (e) Tj ET Q q 0 0 0 rg BT 170.91 670.50 Td (t) Tj ET Q q 0 0 0 rg BT 174.14 670.50 Td (ailer r) Tj ET Q q 0 0 0 rg BT 197.59 670.50 Td (esponses t) Tj ET Q q 0 0 0 rg BT 240.57 670.50 Td (o these tr) Tj ET Q q 0 0 0 rg BT 279.54 670.50 Td (ends, in addition t) Tj ET Q q 0 0 0 rg BT 352.77 670.50 Td (o r) Tj ET Q q 0 0 0 rg BT 363.66 670.50 Td (e) Tj ET Q q 0 0 0 rg BT 368.58 670.50 Td (t) Tj ET Q q 0 0 0 rg BT 371.81 670.50 Td (ail c) Tj ET Q q 0 0 0 rg BT 387.60 670.50 Td (ompe) Tj ET Q q 0 0 0 rg BT 411.04 670.50 Td (tition. 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Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 628.50 Td (In Manag) Tj ET Q q 0 0 0 rg BT 92.04 628.50 Td (emen) Tj ET Q q 0 0 0 rg BT 115.14 628.50 Td (t) Tj ET Q q 0 0 0 rg BT 118.84 628.50 Td () Tj ET Q q 0 0 0 rg BT 120.72 628.50 Td (s vie) Tj ET Q q 0 0 0 rg BT 138.63 628.50 Td (w) Tj ET Q q 0 0 0 rg BT 144.92 628.50 Td (, shopping cen) Tj ET Q q 0 0 0 rg BT 203.51 628.50 Td (tr) Tj ET Q q 0 0 0 rg BT 210.21 628.50 Td (es and mix) Tj ET Q q 0 0 0 rg BT 253.27 628.50 Td (ed-use pr) Tj ET Q q 0 0 0 rg BT 291.54 628.50 Td (operties loc) Tj ET Q q 0 0 0 rg BT 339.03 628.50 Td (a) Tj ET Q q 0 0 0 rg BT 343.73 628.50 Td (t) Tj ET Q q 0 0 0 rg BT 346.97 628.50 Td (ed in urban mark) Tj ET Q q 0 0 0 rg BT 416.06 628.50 Td (e) Tj ET Q q 0 0 0 rg BT 420.98 628.50 Td (ts with t) Tj ET Q q 0 0 0 rg BT 454.05 628.50 Td (enan) Tj ET Q q 0 0 0 rg BT 474.23 628.50 Td (ts pr) Tj ET Q q 0 0 0 rg BT 492.33 628.50 Td (o) Tj ET Q q 0 0 0 rg BT 497.56 628.50 Td (viding non-) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 616.50 Td (discr) Tj ET Q q 0 0 0 rg BT 73.04 616.50 Td (e) Tj ET Q q 0 0 0 rg BT 77.96 616.50 Td (tionar) Tj ET Q q 0 0 0 rg BT 102.46 616.50 Td (y g) Tj ET Q q 0 0 0 rg BT 113.89 616.50 Td (oods and ser) Tj ET Q q 0 0 0 rg BT 165.88 616.50 Td (vices, will be less sensitiv) Tj ET Q q 0 0 0 rg BT 267.12 616.50 Td (e t) Tj ET Q q 0 0 0 rg BT 277.60 616.50 Td (o both ec) Tj ET Q q 0 0 0 rg BT 315.65 616.50 Td (onomic cy) Tj ET Q q 0 0 0 rg BT 356.85 616.50 Td (cles and e) Tj ET Q q 0 0 0 rg BT 397.01 616.50 Td (v) Tj ET Q q 0 0 0 rg BT 401.43 616.50 Td (olving r) Tj ET Q q 0 0 0 rg BT 431.39 616.50 Td (e) Tj ET Q q 0 0 0 rg BT 436.31 616.50 Td (t) Tj ET Q q 0 0 0 rg BT 439.54 616.50 Td (ail tr) Tj ET Q q 0 0 0 rg BT 457.88 616.50 Td (ends, thus pr) Tj ET Q q 0 0 0 rg BT 510.64 616.50 Td (o) Tj ET Q q 0 0 0 rg BT 515.87 616.50 Td (viding a ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 604.50 Td (mor) Tj ET Q q 0 0 0 rg BT 70.62 604.50 Td (e s) Tj ET Q q 0 0 0 rg BT 81.65 604.50 Td (t) Tj ET Q q 0 0 0 rg BT 84.88 604.50 Td (able and gr) Tj ET Q q 0 0 0 rg BT 130.04 604.50 Td (o) Tj ET Q q 0 0 0 rg BT 135.28 604.50 Td (wing c) Tj ET Q q 0 0 0 rg BT 161.09 604.50 Td (ash flo) Tj ET Q q 0 0 0 rg BT 187.89 604.50 Td (w o) Tj ET Q q 0 0 0 rg BT 202.53 604.50 Td (v) Tj ET Q q 0 0 0 rg BT 206.94 604.50 Td (er the long t) Tj ET Q q 0 0 0 rg BT 256.54 604.50 Td (erm.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 586.50 Td (Gr) Tj ET Q q 0 0 0 rg BT 63.80 586.50 Td (o) Tj ET Q q 0 0 0 rg BT 69.16 586.50 Td (w) Tj ET Q q 0 0 0 rg BT 76.64 586.50 Td (th) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 568.50 Td (The Same Pr) Tj ET Q q 0 0 0 rg BT 104.46 568.50 Td (operty portf) Tj ET Q q 0 0 0 rg BT 153.79 568.50 Td (olio deliv) Tj ET Q q 0 0 0 rg BT 190.43 568.50 Td (er) Tj ET Q q 0 0 0 rg BT 198.76 568.50 Td (ed s) Tj ET Q q 0 0 0 rg BT 215.05 568.50 Td (tr) Tj ET Q q 0 0 0 rg BT 221.72 568.50 Td (ong ne) Tj ET Q q 0 0 0 rg BT 249.40 568.50 Td (t oper) Tj ET Q q 0 0 0 rg BT 273.79 568.50 Td (a) Tj ET Q q 0 0 0 rg BT 278.49 568.50 Td (ting inc) Tj ET Q q 0 0 0 rg BT 308.05 568.50 Td (ome gr) Tj ET Q q 0 0 0 rg BT 336.58 568.50 Td (o) Tj ET Q q 0 0 0 rg BT 341.81 568.50 Td (w) Tj ET Q q 0 0 0 rg BT 348.98 568.50 Td (th of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.43 568.50 Td (4.4%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 390.24 568.50 Td ( f) Tj ET Q q 0 0 0 rg BT 395.34 568.50 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.20 568.50 Td (thr) Tj ET Q q 0 0 0 rg BT 434.16 568.50 Td (ee mon) Tj ET Q q 0 0 0 rg BT 464.80 568.50 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 524.22 568.50 Td (ch 31, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 556.50 Td (2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.27 556.50 Td ( as c) Tj ET Q q 0 0 0 rg BT 91.64 556.50 Td (ompar) Tj ET Q q 0 0 0 rg BT 118.30 556.50 Td (ed t) Tj ET Q q 0 0 0 rg BT 134.04 556.50 Td (o the prior y) Tj ET Q q 0 0 0 rg BT 183.88 556.50 Td (ear period. The gr) Tj ET Q q 0 0 0 rg BT 256.11 556.50 Td (o) Tj ET Q q 0 0 0 rg BT 261.34 556.50 Td (w) Tj ET Q q 0 0 0 rg BT 268.51 556.50 Td (th in NOI w) Tj ET Q q 0 0 0 rg BT 314.08 556.50 Td (as primarily due t) Tj ET Q q 0 0 0 rg BT 384.71 556.50 Td (o higher Same Pr) Tj ET Q q 0 0 0 rg BT 453.58 556.50 Td (operty occupancy ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 544.50 Td (le) Tj ET Q q 0 0 0 rg BT 61.22 544.50 Td (v) Tj ET Q q 0 0 0 rg BT 65.64 544.50 Td (els, incr) Tj ET Q q 0 0 0 rg BT 96.71 544.50 Td (eased r) Tj ET Q q 0 0 0 rg BT 126.23 544.50 Td (en) Tj ET Q q 0 0 0 rg BT 136.37 544.50 Td (t) Tj ET Q q 0 0 0 rg BT 139.60 544.50 Td (al r) Tj ET Q q 0 0 0 rg BT 152.22 544.50 Td (a) Tj ET Q q 0 0 0 rg BT 156.92 544.50 Td (t) Tj ET Q q 0 0 0 rg BT 160.16 544.50 Td (es due t) Tj ET Q q 0 0 0 rg BT 192.31 544.50 Td (o lease s) Tj ET Q q 0 0 0 rg BT 226.85 544.50 Td (t) Tj ET Q q 0 0 0 rg BT 230.09 544.50 Td (ep-up) Tj ET Q q 0 0 0 rg BT 253.84 544.50 Td (s, higher r) Tj ET Q q 0 0 0 rg BT 294.09 544.50 Td (en) Tj ET Q q 0 0 0 rg BT 304.23 544.50 Td (t) Tj ET Q q 0 0 0 rg BT 307.46 544.50 Td (al r) Tj ET Q q 0 0 0 rg BT 320.08 544.50 Td (a) Tj ET Q q 0 0 0 rg BT 324.78 544.50 Td (t) Tj ET Q q 0 0 0 rg BT 328.02 544.50 Td (es on lease r) Tj ET Q q 0 0 0 rg BT 378.52 544.50 Td (ene) Tj ET Q q 0 0 0 rg BT 393.68 544.50 Td (w) Tj ET Q q 0 0 0 rg BT 400.71 544.50 Td (als and ne) Tj ET Q q 0 0 0 rg BT 441.71 544.50 Td (w t) Tj ET Q q 0 0 0 rg BT 454.36 544.50 Td (enan) Tj ET Q q 0 0 0 rg BT 474.54 544.50 Td (t openings a) Tj ET Q q 0 0 0 rg BT 524.03 544.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 532.50 Td (higher r) Tj ET Q q 0 0 0 rg BT 85.59 532.50 Td (en) Tj ET Q q 0 0 0 rg BT 95.72 532.50 Td (t) Tj ET Q q 0 0 0 rg BT 98.95 532.50 Td (al r) Tj ET Q q 0 0 0 rg BT 111.58 532.50 Td (a) Tj ET Q q 0 0 0 rg BT 116.28 532.50 Td (t) Tj ET Q q 0 0 0 rg BT 119.52 532.50 Td (es than t) Tj ET Q q 0 0 0 rg BT 154.82 532.50 Td (enan) Tj ET Q q 0 0 0 rg BT 175.00 532.50 Td (t closur) Tj ET Q q 0 0 0 rg BT 204.92 532.50 Td (es.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 514.50 Td (As a) Tj ET Q q 0 0 0 rg BT 70.66 514.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 76.27 514.50 Td (Mar) Tj ET Q q 0 0 0 rg BT 92.95 514.50 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 139.85 514.50 Td (, the Same Pr) Tj ET Q q 0 0 0 rg BT 193.55 514.50 Td (operty portf) Tj ET Q q 0 0 0 rg BT 242.88 514.50 Td (olio w) Tj ET Q q 0 0 0 rg BT 267.32 514.50 Td (as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 278.28 514.50 Td (96.4%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.16 514.50 Td ( occupied and the t) Tj ET Q q 0 0 0 rg BT 381.09 514.50 Td (ot) Tj ET Q q 0 0 0 rg BT 389.59 514.50 Td (al portf) Tj ET Q q 0 0 0 rg BT 419.14 514.50 Td (olio w) Tj ET Q q 0 0 0 rg BT 443.58 514.50 Td (as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.54 514.50 Td (95.6%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 479.42 514.50 Td ( occupied. The ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 502.50 Td (Compan) Tj ET Q q 0 0 0 rg BT 87.71 502.50 Td (y had ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 112.05 502.50 Td (0.5%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 131.86 502.50 Td ( of the portf) Tj ET Q q 0 0 0 rg BT 180.75 502.50 Td (olio held as v) Tj ET Q q 0 0 0 rg BT 233.52 502.50 Td (ac) Tj ET Q q 0 0 0 rg BT 242.46 502.50 Td (an) Tj ET Q q 0 0 0 rg BT 252.41 502.50 Td (t space f) Tj ET Q q 0 0 0 rg BT 286.28 502.50 Td (or de) Tj ET Q q 0 0 0 rg BT 307.48 502.50 Td (v) Tj ET Q q 0 0 0 rg BT 311.90 502.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 347.82 502.50 Td (t.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 484.50 Td (Urban municipalities wher) Tj ET Q q 0 0 0 rg BT 160.93 484.50 Td (e the Compan) Tj ET Q q 0 0 0 rg BT 217.72 484.50 Td (y oper) Tj ET Q q 0 0 0 rg BT 243.29 484.50 Td (a) Tj ET Q q 0 0 0 rg BT 247.98 484.50 Td (t) Tj ET Q q 0 0 0 rg BT 251.23 484.50 Td (es c) Tj ET Q q 0 0 0 rg BT 266.52 484.50 Td (on) Tj ET Q q 0 0 0 rg BT 276.95 484.50 Td (tinue t) Tj ET Q q 0 0 0 rg BT 303.59 484.50 Td (o f) Tj ET Q q 0 0 0 rg BT 313.97 484.50 Td (ocus on incr) Tj ET Q q 0 0 0 rg BT 362.82 484.50 Td (easing density within the e) Tj ET Q q 0 0 0 rg BT 471.36 484.50 Td (xis) Tj ET Q q 0 0 0 rg BT 481.78 484.50 Td (ting boundaries ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 472.50 Td (of in) Tj ET Q q 0 0 0 rg BT 72.08 472.50 Td (fr) Tj ET Q q 0 0 0 rg BT 78.41 472.50 Td (as) Tj ET Q q 0 0 0 rg BT 87.00 472.50 Td (tructur) Tj ET Q q 0 0 0 rg BT 115.27 472.50 Td (e. This pr) Tj ET Q q 0 0 0 rg BT 152.21 472.50 Td (o) Tj ET Q q 0 0 0 rg BT 157.44 472.50 Td (vides the Compan) Tj ET Q q 0 0 0 rg BT 230.20 472.50 Td (y with multiple de) Tj ET Q q 0 0 0 rg BT 303.44 472.50 Td (v) Tj ET Q q 0 0 0 rg BT 307.86 472.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 343.78 472.50 Td (t and r) Tj ET Q q 0 0 0 rg BT 370.30 472.50 Td (ede) Tj ET Q q 0 0 0 rg BT 385.46 472.50 Td (v) Tj ET Q q 0 0 0 rg BT 389.88 472.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 425.80 472.50 Td (t opportunities in its e) Tj ET Q q 0 0 0 rg BT 515.35 472.50 Td (xis) Tj ET Q q 0 0 0 rg BT 525.77 472.50 Td (ting ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 460.50 Td (portf) Tj ET Q q 0 0 0 rg BT 74.21 460.50 Td (olio of urban pr) Tj ET Q q 0 0 0 rg BT 137.07 460.50 Td (operties, which includes an in) Tj ET Q q 0 0 0 rg BT 257.20 460.50 Td (v) Tj ET Q q 0 0 0 rg BT 261.62 460.50 Td (en) Tj ET Q q 0 0 0 rg BT 271.75 460.50 Td (t) Tj ET Q q 0 0 0 rg BT 275.01 460.50 Td (or) Tj ET Q q 0 0 0 rg BT 283.81 460.50 Td (y of adjacen) Tj ET Q q 0 0 0 rg BT 332.78 460.50 Td (t land sit) Tj ET Q q 0 0 0 rg BT 367.69 460.50 Td (es and de) Tj ET Q q 0 0 0 rg BT 406.58 460.50 Td (v) Tj ET Q q 0 0 0 rg BT 411.00 460.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 446.92 460.50 Td (t land. As a) Tj ET Q q 0 0 0 rg BT 491.56 460.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 497.17 460.50 Td (Mar) Tj ET Q q 0 0 0 rg BT 513.85 460.50 Td (ch31, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 448.50 Td (2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.27 448.50 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 128.58 448.50 Td (y had iden) Tj ET Q q 0 0 0 rg BT 170.61 448.50 Td (tified appr) Tj ET Q q 0 0 0 rg BT 212.71 448.50 Td (o) Tj ET Q q 0 0 0 rg BT 217.79 448.50 Td (xima) Tj ET Q q 0 0 0 rg BT 237.10 448.50 Td (t) Tj ET Q q 0 0 0 rg BT 240.34 448.50 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 254.40 448.50 Td (2.8 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 297.02 448.50 Td ( squar) Tj ET Q q 0 0 0 rg BT 321.84 448.50 Td (e f) Tj ET Q q 0 0 0 rg BT 331.88 448.50 Td (ee) Tj ET Q q 0 0 0 rg BT 341.78 448.50 Td (t of incr) Tj ET Q q 0 0 0 rg BT 373.11 448.50 Td (emen) Tj ET Q q 0 0 0 rg BT 396.21 448.50 Td (t) Tj ET Q q 0 0 0 rg BT 399.43 448.50 Td (al density a) Tj ET Q q 0 0 0 rg BT 445.23 448.50 Td (v) Tj ET Q q 0 0 0 rg BT 449.60 448.50 Td (ailable in the portf) Tj ET Q q 0 0 0 rg BT 524.41 448.50 Td (olio ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 436.50 Td (f) Tj ET Q q 0 0 0 rg BT 56.84 436.50 Td (or futur) Tj ET Q q 0 0 0 rg BT 88.13 436.50 Td (e de) Tj ET Q q 0 0 0 rg BT 105.54 436.50 Td (v) Tj ET Q q 0 0 0 rg BT 109.96 436.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 145.88 436.50 Td (t of r) Tj ET Q q 0 0 0 rg BT 165.44 436.50 Td (e) Tj ET Q q 0 0 0 rg BT 170.36 436.50 Td (t) Tj ET Q q 0 0 0 rg BT 173.58 436.50 Td (ail and mix) Tj ET Q q 0 0 0 rg BT 217.13 436.50 Td (ed use space of which appr) Tj ET Q q 0 0 0 rg BT 327.10 436.50 Td (o) Tj ET Q q 0 0 0 rg BT 332.17 436.50 Td (xima) Tj ET Q q 0 0 0 rg BT 351.49 436.50 Td (t) Tj ET Q q 0 0 0 rg BT 354.73 436.50 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 368.79 436.50 Td (1.2 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 411.40 436.50 Td ( squar) Tj ET Q q 0 0 0 rg BT 436.23 436.50 Td (e f) Tj ET Q q 0 0 0 rg BT 446.27 436.50 Td (ee) Tj ET Q q 0 0 0 rg BT 456.16 436.50 Td (t of de) Tj ET Q q 0 0 0 rg BT 482.54 436.50 Td (v) Tj ET Q q 0 0 0 rg BT 486.96 436.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 522.88 436.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 424.50 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 424.50 Td (ojects ar) Tj ET Q q 0 0 0 rg BT 97.12 424.50 Td (e curr) Tj ET Q q 0 0 0 rg BT 120.67 424.50 Td (en) Tj ET Q q 0 0 0 rg BT 130.81 424.50 Td (tly under) Tj ET Q q 0 0 0 rg BT 167.52 424.50 Td (w) Tj ET Q q 0 0 0 rg BT 174.56 424.50 Td (a) Tj ET Q q 0 0 0 rg BT 179.16 424.50 Td (y) Tj ET Q q 0 0 0 rg BT 183.03 424.50 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 406.50 Td (De) Tj ET Q q 0 0 0 rg BT 65.08 406.50 Td (v) Tj ET Q q 0 0 0 rg BT 69.50 406.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 105.42 406.50 Td (t activities c) Tj ET Q q 0 0 0 rg BT 153.44 406.50 Td (on) Tj ET Q q 0 0 0 rg BT 163.88 406.50 Td (tinue t) Tj ET Q q 0 0 0 rg BT 190.52 406.50 Td (o pr) Tj ET Q q 0 0 0 rg BT 206.63 406.50 Td (o) Tj ET Q q 0 0 0 rg BT 211.86 406.50 Td (vide the Compan) Tj ET Q q 0 0 0 rg BT 280.71 406.50 Td (y with gr) Tj ET Q q 0 0 0 rg BT 315.84 406.50 Td (o) Tj ET Q q 0 0 0 rg BT 321.07 406.50 Td (w) Tj ET Q q 0 0 0 rg BT 328.24 406.50 Td (th within its e) Tj ET Q q 0 0 0 rg BT 383.60 406.50 Td (xis) Tj ET Q q 0 0 0 rg BT 394.02 406.50 Td (ting portf) Tj ET Q q 0 0 0 rg BT 432.10 406.50 Td (olio of asse) Tj ET Q q 0 0 0 rg BT 477.61 406.50 Td (ts. These ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 394.50 Td (activities also typic) Tj ET Q q 0 0 0 rg BT 130.37 394.50 Td (ally g) Tj ET Q q 0 0 0 rg BT 151.16 394.50 Td (ener) Tj ET Q q 0 0 0 rg BT 169.64 394.50 Td (a) Tj ET Q q 0 0 0 rg BT 174.34 394.50 Td (t) Tj ET Q q 0 0 0 rg BT 177.58 394.50 Td (e higher r) Tj ET Q q 0 0 0 rg BT 216.41 394.50 Td (e) Tj ET Q q 0 0 0 rg BT 221.33 394.50 Td (turns on in) Tj ET Q q 0 0 0 rg BT 265.02 394.50 Td (v) Tj ET Q q 0 0 0 rg BT 269.43 394.50 Td (es) Tj ET Q q 0 0 0 rg BT 278.21 394.50 Td (tmen) Tj ET Q q 0 0 0 rg BT 299.68 394.50 Td (t o) Tj ET Q q 0 0 0 rg BT 310.52 394.50 Td (v) Tj ET Q q 0 0 0 rg BT 314.94 394.50 Td (er the long t) Tj ET Q q 0 0 0 rg BT 364.54 394.50 Td (erm, and impr) Tj ET Q q 0 0 0 rg BT 422.16 394.50 Td (o) Tj ET Q q 0 0 0 rg BT 427.39 394.50 Td (v) Tj ET Q q 0 0 0 rg BT 431.81 394.50 Td (e the quality and incr) Tj ET Q q 0 0 0 rg BT 517.60 394.50 Td (ease ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 382.50 Td (sus) Tj ET Q q 0 0 0 rg BT 66.96 382.50 Td (t) Tj ET Q q 0 0 0 rg BT 70.19 382.50 Td (ainable gr) Tj ET Q q 0 0 0 rg BT 110.14 382.50 Td (o) Tj ET Q q 0 0 0 rg BT 115.37 382.50 Td (w) Tj ET Q q 0 0 0 rg BT 122.54 382.50 Td (th of pr) Tj ET Q q 0 0 0 rg BT 152.57 382.50 Td (operty r) Tj ET Q q 0 0 0 rg BT 185.05 382.50 Td (en) Tj ET Q q 0 0 0 rg BT 195.19 382.50 Td (t) Tj ET Q q 0 0 0 rg BT 198.41 382.50 Td (al inc) Tj ET Q q 0 0 0 rg BT 219.45 382.50 Td (ome. The Compan) Tj ET Q q 0 0 0 rg BT 293.55 382.50 Td (y) Tj ET Q q 0 0 0 rg BT 298.38 382.50 Td () Tj ET Q q 0 0 0 rg BT 300.26 382.50 Td (s de) Tj ET Q q 0 0 0 rg BT 316.61 382.50 Td (v) Tj ET Q q 0 0 0 rg BT 321.03 382.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 356.95 382.50 Td (t activities primarily c) Tj ET Q q 0 0 0 rg BT 443.65 382.50 Td (omprise r) Tj ET Q q 0 0 0 rg BT 482.45 382.50 Td (ede) Tj ET Q q 0 0 0 rg BT 497.61 382.50 Td (v) Tj ET Q q 0 0 0 rg BT 502.03 382.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 537.95 382.50 Td (ts ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 370.50 Td (and e) Tj ET Q q 0 0 0 rg BT 76.38 370.50 Td (xpansions of e) Tj ET Q q 0 0 0 rg BT 134.33 370.50 Td (xis) Tj ET Q q 0 0 0 rg BT 144.75 370.50 Td (ting pr) Tj ET Q q 0 0 0 rg BT 171.20 370.50 Td (operties in es) Tj ET Q q 0 0 0 rg BT 225.56 370.50 Td (t) Tj ET Q q 0 0 0 rg BT 228.79 370.50 Td (ablished r) Tj ET Q q 0 0 0 rg BT 268.43 370.50 Td (e) Tj ET Q q 0 0 0 rg BT 273.36 370.50 Td (t) Tj ET Q q 0 0 0 rg BT 276.58 370.50 Td (ail tr) Tj ET Q q 0 0 0 rg BT 294.85 370.50 Td (ade ar) Tj ET Q q 0 0 0 rg BT 320.28 370.50 Td (eas in urban mark) Tj ET Q q 0 0 0 rg BT 392.81 370.50 Td (e) Tj ET Q q 0 0 0 rg BT 397.74 370.50 Td (ts. These pr) Tj ET Q q 0 0 0 rg BT 444.61 370.50 Td (ojects typic) Tj ET Q q 0 0 0 rg BT 490.57 370.50 Td (ally c) Tj ET Q q 0 0 0 rg BT 510.88 370.50 Td (arr) Tj ET Q q 0 0 0 rg BT 522.70 370.50 Td (y risk ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 358.50 Td (tha) Tj ET Q q 0 0 0 rg BT 67.30 358.50 Td (t is mor) Tj ET Q q 0 0 0 rg BT 97.99 358.50 Td (e associa) Tj ET Q q 0 0 0 rg BT 134.34 358.50 Td (t) Tj ET Q q 0 0 0 rg BT 137.58 358.50 Td (ed with pr) Tj ET Q q 0 0 0 rg BT 178.96 358.50 Td (oject e) Tj ET Q q 0 0 0 rg BT 206.26 358.50 Td (x) Tj ET Q q 0 0 0 rg BT 210.33 358.50 Td (ecution r) Tj ET Q q 0 0 0 rg BT 246.50 358.50 Td (a) Tj ET Q q 0 0 0 rg BT 251.20 358.50 Td (ther than mark) Tj ET Q q 0 0 0 rg BT 311.92 358.50 Td (e) Tj ET Q q 0 0 0 rg BT 316.84 358.50 Td (t risk as pr) Tj ET Q q 0 0 0 rg BT 358.49 358.50 Td (ojects ar) Tj ET Q q 0 0 0 rg BT 393.03 358.50 Td (e loc) Tj ET Q q 0 0 0 rg BT 411.98 358.50 Td (a) Tj ET Q q 0 0 0 rg BT 416.68 358.50 Td (t) Tj ET Q q 0 0 0 rg BT 419.92 358.50 Td (ed in w) Tj ET Q q 0 0 0 rg BT 449.28 358.50 Td (ell-es) Tj ET Q q 0 0 0 rg BT 470.68 358.50 Td (t) Tj ET Q q 0 0 0 rg BT 473.91 358.50 Td (ablished urban ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 346.50 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 346.50 Td (ommunities with e) Tj ET Q q 0 0 0 rg BT 134.12 346.50 Td (xis) Tj ET Q q 0 0 0 rg BT 144.55 346.50 Td (ting demand f) Tj ET Q q 0 0 0 rg BT 201.03 346.50 Td (or g) Tj ET Q q 0 0 0 rg BT 216.69 346.50 Td (oods and ser) Tj ET Q q 0 0 0 rg BT 268.69 346.50 Td (vices. The Compan) Tj ET Q q 0 0 0 rg BT 344.47 346.50 Td (y has a long and success) Tj ET Q q 0 0 0 rg BT 442.20 346.50 Td (ful tr) Tj ET Q q 0 0 0 rg BT 461.69 346.50 Td (ack r) Tj ET Q q 0 0 0 rg BT 480.87 346.50 Td (ec) Tj ET Q q 0 0 0 rg BT 489.99 346.50 Td (or) Tj ET Q q 0 0 0 rg BT 498.61 346.50 Td (d of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 334.50 Td (de) Tj ET Q q 0 0 0 rg BT 64.18 334.50 Td (v) Tj ET Q q 0 0 0 rg BT 68.60 334.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 104.52 334.50 Td (t activities and will c) Tj ET Q q 0 0 0 rg BT 186.40 334.50 Td (on) Tj ET Q q 0 0 0 rg BT 196.83 334.50 Td (tinue t) Tj ET Q q 0 0 0 rg BT 223.47 334.50 Td (o c) Tj ET Q q 0 0 0 rg BT 235.15 334.50 Td (ar) Tj ET Q q 0 0 0 rg BT 243.30 334.50 Td (e) Tj ET Q q 0 0 0 rg BT 248.18 334.50 Td (fully manag) Tj ET Q q 0 0 0 rg BT 295.31 334.50 Td (e the risk) Tj ET Q q 0 0 0 rg BT 332.54 334.50 Td (s associa) Tj ET Q q 0 0 0 rg BT 367.81 334.50 Td (t) Tj ET Q q 0 0 0 rg BT 371.06 334.50 Td (ed with such pr) Tj ET Q q 0 0 0 rg BT 433.34 334.50 Td (ojects.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 316.50 Td (During the quart) Tj ET Q q 0 0 0 rg BT 121.28 316.50 Td (er) Tj ET Q q 0 0 0 rg BT 128.88 316.50 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 183.18 316.50 Td (y deliv) Tj ET Q q 0 0 0 rg BT 209.21 316.50 Td (er) Tj ET Q q 0 0 0 rg BT 217.54 316.50 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 230.03 316.50 Td (53,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 257.86 316.50 Td ( squar) Tj ET Q q 0 0 0 rg BT 282.69 316.50 Td (e f) Tj ET Q q 0 0 0 rg BT 292.73 316.50 Td (ee) Tj ET Q q 0 0 0 rg BT 302.62 316.50 Td (t of de) Tj ET Q q 0 0 0 rg BT 329.00 316.50 Td (v) Tj ET Q q 0 0 0 rg BT 333.42 316.50 Td (eloped and r) Tj ET Q q 0 0 0 rg BT 384.62 316.50 Td (ede) Tj ET Q q 0 0 0 rg BT 399.78 316.50 Td (v) Tj ET Q q 0 0 0 rg BT 404.20 316.50 Td (eloped space of which ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 496.93 316.50 Td (42,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.77 316.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 304.50 Td (squar) Tj ET Q q 0 0 0 rg BT 76.56 304.50 Td (e f) Tj ET Q q 0 0 0 rg BT 86.60 304.50 Td (ee) Tj ET Q q 0 0 0 rg BT 96.50 304.50 Td (t w) Tj ET Q q 0 0 0 rg BT 109.15 304.50 Td (as occupied during the quart) Tj ET Q q 0 0 0 rg BT 225.51 304.50 Td (er a) Tj ET Q q 0 0 0 rg BT 240.93 304.50 Td (t an a) Tj ET Q q 0 0 0 rg BT 263.47 304.50 Td (v) Tj ET Q q 0 0 0 rg BT 267.89 304.50 Td (er) Tj ET Q q 0 0 0 rg BT 276.14 304.50 Td (ag) Tj ET Q q 0 0 0 rg BT 285.56 304.50 Td (e ne) Tj ET Q q 0 0 0 rg BT 302.97 304.50 Td (t r) Tj ET Q q 0 0 0 rg BT 311.93 304.50 Td (en) Tj ET Q q 0 0 0 rg BT 322.07 304.50 Td (t) Tj ET Q q 0 0 0 rg BT 325.30 304.50 Td (al r) Tj ET Q q 0 0 0 rg BT 337.93 304.50 Td (a) Tj ET Q q 0 0 0 rg BT 342.62 304.50 Td (t) Tj ET Q q 0 0 0 rg BT 345.87 304.50 Td (e of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.69 304.50 Td ($34.99) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 391.55 304.50 Td ( per squar) Tj ET Q q 0 0 0 rg BT 432.35 304.50 Td (e f) Tj ET Q q 0 0 0 rg BT 442.43 304.50 Td (oot, w) Tj ET Q q 0 0 0 rg BT 468.15 304.50 Td (ell abo) Tj ET Q q 0 0 0 rg BT 495.25 304.50 Td (v) Tj ET Q q 0 0 0 rg BT 499.66 304.50 Td (e the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 292.50 Td (a) Tj ET Q q 0 0 0 rg BT 58.62 292.50 Td (v) Tj ET Q q 0 0 0 rg BT 63.04 292.50 Td (er) Tj ET Q q 0 0 0 rg BT 71.30 292.50 Td (ag) Tj ET Q q 0 0 0 rg BT 80.71 292.50 Td (e r) Tj ET Q q 0 0 0 rg BT 91.30 292.50 Td (en) Tj ET Q q 0 0 0 rg BT 101.44 292.50 Td (t f) Tj ET Q q 0 0 0 rg BT 109.89 292.50 Td (or the en) Tj ET Q q 0 0 0 rg BT 146.89 292.50 Td (tir) Tj ET Q q 0 0 0 rg BT 155.89 292.50 Td (e portf) Tj ET Q q 0 0 0 rg BT 183.33 292.50 Td (olio.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 274.50 Td (T) Tj ET Q q 0 0 0 rg BT 58.44 274.50 Td (r) Tj ET Q q 0 0 0 rg BT 61.77 274.50 Td (ansaction Activity) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 256.50 Td (The pr) Tj ET Q q 0 0 0 rg BT 79.94 256.50 Td (operty acquisition en) Tj ET Q q 0 0 0 rg BT 165.59 256.50 Td (vir) Tj ET Q q 0 0 0 rg BT 175.73 256.50 Td (onmen) Tj ET Q q 0 0 0 rg BT 204.38 256.50 Td (t r) Tj ET Q q 0 0 0 rg BT 213.35 256.50 Td (emains e) Tj ET Q q 0 0 0 rg BT 249.64 256.50 Td (x) Tj ET Q q 0 0 0 rg BT 254.00 256.50 Td (tr) Tj ET Q q 0 0 0 rg BT 260.71 256.50 Td (emely c) Tj ET Q q 0 0 0 rg BT 291.88 256.50 Td (ompe) Tj ET Q q 0 0 0 rg BT 315.31 256.50 Td (titiv) Tj ET Q q 0 0 0 rg BT 331.02 256.50 Td (e f) Tj ET Q q 0 0 0 rg BT 341.10 256.50 Td (or asse) Tj ET Q q 0 0 0 rg BT 369.65 256.50 Td (ts of similar quality t) Tj ET Q q 0 0 0 rg BT 452.36 256.50 Td (o those the Compan) Tj ET Q q 0 0 0 rg BT 534.46 256.50 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 244.50 Td (o) Tj ET Q q 0 0 0 rg BT 59.23 244.50 Td (wns. Ther) Tj ET Q q 0 0 0 rg BT 98.79 244.50 Td (e ar) Tj ET Q q 0 0 0 rg BT 114.17 244.50 Td (e typic) Tj ET Q q 0 0 0 rg BT 140.98 244.50 Td (ally multiple bids on high quality pr) Tj ET Q q 0 0 0 rg BT 283.25 244.50 Td (operties, and asse) Tj ET Q q 0 0 0 rg BT 356.62 244.50 Td (t v) Tj ET Q q 0 0 0 rg BT 366.60 244.50 Td (alua) Tj ET Q q 0 0 0 rg BT 383.63 244.50 Td (tions r) Tj ET Q q 0 0 0 rg BT 409.33 244.50 Td (e) Tj ET Q q 0 0 0 rg BT 414.22 244.50 Td (flect s) Tj ET Q q 0 0 0 rg BT 438.18 244.50 Td (tr) Tj ET Q q 0 0 0 rg BT 444.85 244.50 Td (ong demand f) Tj ET Q q 0 0 0 rg BT 500.97 244.50 Td (or w) Tj ET Q q 0 0 0 rg BT 519.05 244.50 Td (ell-) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 232.50 Td (loc) Tj ET Q q 0 0 0 rg BT 65.71 232.50 Td (a) Tj ET Q q 0 0 0 rg BT 70.41 232.50 Td (t) Tj ET Q q 0 0 0 rg BT 73.65 232.50 Td (ed inc) Tj ET Q q 0 0 0 rg BT 97.84 232.50 Td (ome-pr) Tj ET Q q 0 0 0 rg BT 127.72 232.50 Td (oducing asse) Tj ET Q q 0 0 0 rg BT 179.78 232.50 Td (ts. Ther) Tj ET Q q 0 0 0 rg BT 210.28 232.50 Td (e) Tj ET Q q 0 0 0 rg BT 215.17 232.50 Td (f) Tj ET Q q 0 0 0 rg BT 218.01 232.50 Td (or) Tj ET Q q 0 0 0 rg BT 226.64 232.50 Td (e, the Compan) Tj ET Q q 0 0 0 rg BT 285.91 232.50 Td (y e) Tj ET Q q 0 0 0 rg BT 297.53 232.50 Td (xpects t) Tj ET Q q 0 0 0 rg BT 329.09 232.50 Td (o f) Tj ET Q q 0 0 0 rg BT 339.46 232.50 Td (ocus on de) Tj ET Q q 0 0 0 rg BT 383.36 232.50 Td (v) Tj ET Q q 0 0 0 rg BT 387.78 232.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 423.70 232.50 Td (t and r) Tj ET Q q 0 0 0 rg BT 450.23 232.50 Td (ede) Tj ET Q q 0 0 0 rg BT 465.38 232.50 Td (v) Tj ET Q q 0 0 0 rg BT 469.80 232.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 505.72 232.50 Td (t of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 220.50 Td (e) Tj ET Q q 0 0 0 rg BT 58.82 220.50 Td (xis) Tj ET Q q 0 0 0 rg BT 69.25 220.50 Td (ting asse) Tj ET Q q 0 0 0 rg BT 104.65 220.50 Td (ts as the primar) Tj ET Q q 0 0 0 rg BT 168.32 220.50 Td (y means t) Tj ET Q q 0 0 0 rg BT 207.54 220.50 Td (o gr) Tj ET Q q 0 0 0 rg BT 223.11 220.50 Td (o) Tj ET Q q 0 0 0 rg BT 228.34 220.50 Td (w the portf) Tj ET Q q 0 0 0 rg BT 273.79 220.50 Td (olio while c) Tj ET Q q 0 0 0 rg BT 319.57 220.50 Td (on) Tj ET Q q 0 0 0 rg BT 330.00 220.50 Td (tinuing t) Tj ET Q q 0 0 0 rg BT 363.92 220.50 Td (o mak) Tj ET Q q 0 0 0 rg BT 388.46 220.50 Td (e selectiv) Tj ET Q q 0 0 0 rg BT 426.14 220.50 Td (e acquisitions tha) Tj ET Q q 0 0 0 rg BT 497.05 220.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 208.50 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 208.50 Td (omplemen) Tj ET Q q 0 0 0 rg BT 102.06 208.50 Td (t the e) Tj ET Q q 0 0 0 rg BT 128.33 208.50 Td (xis) Tj ET Q q 0 0 0 rg BT 138.76 208.50 Td (ting portf) Tj ET Q q 0 0 0 rg BT 176.83 208.50 Td (olio.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 190.50 Td (During the quart) Tj ET Q q 0 0 0 rg BT 121.28 190.50 Td (er) Tj ET Q q 0 0 0 rg BT 128.88 190.50 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 183.18 190.50 Td (y acquir) Tj ET Q q 0 0 0 rg BT 215.14 190.50 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 227.63 190.50 Td (tw) Tj ET Q q 0 0 0 rg BT 238.04 190.50 Td (o) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 243.31 190.50 Td ( pr) Tj ET Q q 0 0 0 rg BT 254.15 190.50 Td (operties f) Tj ET Q q 0 0 0 rg BT 292.77 190.50 Td (or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.79 190.50 Td ($24.8 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 356.55 190.50 Td (. The pr) Tj ET Q q 0 0 0 rg BT 389.54 190.50 Td (operties ar) Tj ET Q q 0 0 0 rg BT 433.46 190.50 Td (e loc) Tj ET Q q 0 0 0 rg BT 452.41 190.50 Td (a) Tj ET Q q 0 0 0 rg BT 457.11 190.50 Td (t) Tj ET Q q 0 0 0 rg BT 460.35 190.50 Td (ed within close ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 178.50 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 178.50 Td (o) Tj ET Q q 0 0 0 rg BT 67.66 178.50 Td (ximity t) Tj ET Q q 0 0 0 rg BT 97.96 178.50 Td (o e) Tj ET Q q 0 0 0 rg BT 110.31 178.50 Td (xis) Tj ET Q q 0 0 0 rg BT 120.74 178.50 Td (ting shopping cen) Tj ET Q q 0 0 0 rg BT 192.43 178.50 Td (tr) Tj ET Q q 0 0 0 rg BT 199.14 178.50 Td (es under) Tj ET Q q 0 0 0 rg BT 234.37 178.50 Td (g) Tj ET Q q 0 0 0 rg BT 239.01 178.50 Td (oing major r) Tj ET Q q 0 0 0 rg BT 288.35 178.50 Td (ede) Tj ET Q q 0 0 0 rg BT 303.50 178.50 Td (v) Tj ET Q q 0 0 0 rg BT 307.92 178.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 343.84 178.50 Td (ts in T) Tj ET Q q 0 0 0 rg BT 367.16 178.50 Td (or) Tj ET Q q 0 0 0 rg BT 375.76 178.50 Td (on) Tj ET Q q 0 0 0 rg BT 386.19 178.50 Td (t) Tj ET Q q 0 0 0 rg BT 389.44 178.50 Td (o and Calg) Tj ET Q q 0 0 0 rg BT 431.48 178.50 Td (ar) Tj ET Q q 0 0 0 rg BT 439.80 178.50 Td (y adding ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 476.40 178.50 Td (42,400) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 504.24 178.50 Td ( squar) Tj ET Q q 0 0 0 rg BT 529.06 178.50 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 166.50 Td (f) Tj ET Q q 0 0 0 rg BT 56.80 166.50 Td (ee) Tj ET Q q 0 0 0 rg BT 66.70 166.50 Td (t of e) Tj ET Q q 0 0 0 rg BT 87.72 166.50 Td (xis) Tj ET Q q 0 0 0 rg BT 98.15 166.50 Td (ting leasable ar) Tj ET Q q 0 0 0 rg BT 159.70 166.50 Td (ea t) Tj ET Q q 0 0 0 rg BT 174.98 166.50 Td (o the portf) Tj ET Q q 0 0 0 rg BT 218.56 166.50 Td (olio. Additionally) Tj ET Q q 0 0 0 rg BT 286.44 166.50 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 340.74 166.50 Td (y in) Tj ET Q q 0 0 0 rg BT 354.91 166.50 Td (v) Tj ET Q q 0 0 0 rg BT 359.33 166.50 Td (es) Tj ET Q q 0 0 0 rg BT 368.10 166.50 Td (t) Tj ET Q q 0 0 0 rg BT 371.34 166.50 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 383.83 166.50 Td ($50.7 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 436.59 166.50 Td ( in de) Tj ET Q q 0 0 0 rg BT 458.84 166.50 Td (v) Tj ET Q q 0 0 0 rg BT 463.26 166.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 499.18 166.50 Td (t and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 154.50 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 154.50 Td (ede) Tj ET Q q 0 0 0 rg BT 72.51 154.50 Td (v) Tj ET Q q 0 0 0 rg BT 76.93 154.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 112.85 154.50 Td (t activities during the quart) Tj ET Q q 0 0 0 rg BT 223.11 154.50 Td (er) Tj ET Q q 0 0 0 rg BT 230.56 154.50 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 136.50 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 136.50 Td (y c) Tj ET Q q 0 0 0 rg BT 116.00 136.50 Td (on) Tj ET Q q 0 0 0 rg BT 126.44 136.50 Td (tinues t) Tj ET Q q 0 0 0 rg BT 156.99 136.50 Td (o c) Tj ET Q q 0 0 0 rg BT 168.67 136.50 Td (ar) Tj ET Q q 0 0 0 rg BT 176.81 136.50 Td (e) Tj ET Q q 0 0 0 rg BT 181.70 136.50 Td (fully e) Tj ET Q q 0 0 0 rg BT 206.31 136.50 Td (v) Tj ET Q q 0 0 0 rg BT 210.68 136.50 Td (alua) Tj ET Q q 0 0 0 rg BT 227.72 136.50 Td (t) Tj ET Q q 0 0 0 rg BT 230.96 136.50 Td (e its pr) Tj ET Q q 0 0 0 rg BT 258.59 136.50 Td (operties and will occ) Tj ET Q q 0 0 0 rg BT 341.87 136.50 Td (asionally dispose of non-c) Tj ET Q q 0 0 0 rg BT 446.27 136.50 Td (or) Tj ET Q q 0 0 0 rg BT 454.90 136.50 Td (e pr) Tj ET Q q 0 0 0 rg BT 470.71 136.50 Td (operties. This ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 124.50 Td (allo) Tj ET Q q 0 0 0 rg BT 68.61 124.50 Td (w) Tj ET Q q 0 0 0 rg BT 75.67 124.50 Td (s the Compan) Tj ET Q q 0 0 0 rg BT 131.39 124.50 Td (y t) Tj ET Q q 0 0 0 rg BT 141.43 124.50 Td (o r) Tj ET Q q 0 0 0 rg BT 152.32 124.50 Td (ecy) Tj ET Q q 0 0 0 rg BT 165.92 124.50 Td (cle c) Tj ET Q q 0 0 0 rg BT 183.83 124.50 Td (apit) Tj ET Q q 0 0 0 rg BT 199.40 124.50 Td (al in) Tj ET Q q 0 0 0 rg BT 216.20 124.50 Td (t) Tj ET Q q 0 0 0 rg BT 219.45 124.50 Td (o its c) Tj ET Q q 0 0 0 rg BT 242.95 124.50 Td (or) Tj ET Q q 0 0 0 rg BT 251.57 124.50 Td (e urban r) Tj ET Q q 0 0 0 rg BT 288.46 124.50 Td (ede) Tj ET Q q 0 0 0 rg BT 303.62 124.50 Td (v) Tj ET Q q 0 0 0 rg BT 308.04 124.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 343.96 124.50 Td (t pr) Tj ET Q q 0 0 0 rg BT 358.15 124.50 Td (ojects wher) Tj ET Q q 0 0 0 rg BT 405.27 124.50 Td (e popula) Tj ET Q q 0 0 0 rg BT 440.54 124.50 Td (tion, r) Tj ET Q q 0 0 0 rg BT 464.82 124.50 Td (en) Tj ET Q q 0 0 0 rg BT 474.96 124.50 Td (t gr) Tj ET Q q 0 0 0 rg BT 488.60 124.50 Td (o) Tj ET Q q 0 0 0 rg BT 493.83 124.50 Td (w) Tj ET Q q 0 0 0 rg BT 501.00 124.50 Td (th and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 112.50 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 112.50 Td (onsumer tr) Tj ET Q q 0 0 0 rg BT 103.25 112.50 Td (ends pr) Tj ET Q q 0 0 0 rg BT 133.52 112.50 Td (esen) Tj ET Q q 0 0 0 rg BT 152.54 112.50 Td (t the opportunity f) Tj ET Q q 0 0 0 rg BT 227.66 112.50 Td (or long-t) Tj ET Q q 0 0 0 rg BT 262.52 112.50 Td (erm gr) Tj ET Q q 0 0 0 rg BT 289.26 112.50 Td (o) Tj ET Q q 0 0 0 rg BT 294.49 112.50 Td (w) Tj ET Q q 0 0 0 rg BT 301.66 112.50 Td (th. During the quart) Tj ET Q q 0 0 0 rg BT 382.33 112.50 Td (er) Tj ET Q q 0 0 0 rg BT 389.93 112.50 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 444.23 112.50 Td (y disposed of a ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 507.04 112.50 Td (136,700) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 539.95 112.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 100.50 Td (squar) Tj ET Q q 0 0 0 rg BT 76.56 100.50 Td (e f) Tj ET Q q 0 0 0 rg BT 86.64 100.50 Td (oot, non-c) Tj ET Q q 0 0 0 rg BT 128.28 100.50 Td (or) Tj ET Q q 0 0 0 rg BT 136.91 100.50 Td (e pr) Tj ET Q q 0 0 0 rg BT 152.73 100.50 Td (operty in Delson, Quebec f) Tj ET Q q 0 0 0 rg BT 260.80 100.50 Td (or gr) Tj ET Q q 0 0 0 rg BT 279.85 100.50 Td (oss pr) Tj ET Q q 0 0 0 rg BT 303.79 100.50 Td (oceeds of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 345.25 100.50 Td ($21.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 398.00 100.50 Td (.) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (10) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 694.50 Td (E) Tj ET Q q 0 0 0 rg BT 58.76 694.50 Td (c) Tj ET Q q 0 0 0 rg BT 62.89 694.50 Td (onom) Tj ET Q q 0 0 0 rg BT 86.96 694.50 Td (y and Access t) Tj ET Q q 0 0 0 rg BT 144.96 694.50 Td (o Capit) Tj ET Q q 0 0 0 rg BT 174.02 694.50 Td (al) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 676.50 Td (Canada's ec) Tj ET Q q 0 0 0 rg BT 101.71 676.50 Td (onom) Tj ET Q q 0 0 0 rg BT 125.31 676.50 Td (y is gr) Tj ET Q q 0 0 0 rg BT 148.60 676.50 Td (o) Tj ET Q q 0 0 0 rg BT 153.83 676.50 Td (wing a) Tj ET Q q 0 0 0 rg BT 180.20 676.50 Td (t a r) Tj ET Q q 0 0 0 rg BT 196.21 676.50 Td (ela) Tj ET Q q 0 0 0 rg BT 208.18 676.50 Td (tiv) Tj ET Q q 0 0 0 rg BT 218.24 676.50 Td (ely modes) Tj ET Q q 0 0 0 rg BT 259.59 676.50 Td (t pace, ho) Tj ET Q q 0 0 0 rg BT 299.69 676.50 Td (w) Tj ET Q q 0 0 0 rg BT 306.75 676.50 Td (e) Tj ET Q q 0 0 0 rg BT 311.68 676.50 Td (v) Tj ET Q q 0 0 0 rg BT 316.10 676.50 Td (er) Tj ET Q q 0 0 0 rg BT 323.70 676.50 Td (, uncert) Tj ET Q q 0 0 0 rg BT 354.88 676.50 Td (ain) Tj ET Q q 0 0 0 rg BT 367.13 676.50 Td (ty has incr) Tj ET Q q 0 0 0 rg BT 408.61 676.50 Td (eased as a r) Tj ET Q q 0 0 0 rg BT 456.15 676.50 Td (esult of s) Tj ET Q q 0 0 0 rg BT 492.58 676.50 Td (tr) Tj ET Q q 0 0 0 rg BT 499.25 676.50 Td (ong ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 664.50 Td (do) Tj ET Q q 0 0 0 rg BT 64.49 664.50 Td (wn) Tj ET Q q 0 0 0 rg BT 76.82 664.50 Td (w) Tj ET Q q 0 0 0 rg BT 83.86 664.50 Td (ar) Tj ET Q q 0 0 0 rg BT 92.00 664.50 Td (d pr) Tj ET Q q 0 0 0 rg BT 108.12 664.50 Td (essur) Tj ET Q q 0 0 0 rg BT 129.53 664.50 Td (e on oil prices, the declining v) Tj ET Q q 0 0 0 rg BT 249.61 664.50 Td (alue of the Canadian dollar and high a) Tj ET Q q 0 0 0 rg BT 403.24 664.50 Td (v) Tj ET Q q 0 0 0 rg BT 407.66 664.50 Td (er) Tj ET Q q 0 0 0 rg BT 415.91 664.50 Td (ag) Tj ET Q q 0 0 0 rg BT 425.33 664.50 Td (e household deb) Tj ET Q q 0 0 0 rg BT 493.01 664.50 Td (t le) Tj ET Q q 0 0 0 rg BT 505.84 664.50 Td (v) Tj ET Q q 0 0 0 rg BT 510.26 664.50 Td (els. The ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 652.50 Td (U) Tj ET Q q 0 0 0 rg BT 60.24 652.50 Td (.S. c) Tj ET Q q 0 0 0 rg BT 76.29 652.50 Td (on) Tj ET Q q 0 0 0 rg BT 86.72 652.50 Td (tinues t) Tj ET Q q 0 0 0 rg BT 117.28 652.50 Td (o sho) Tj ET Q q 0 0 0 rg BT 139.21 652.50 Td (w positiv) Tj ET Q q 0 0 0 rg BT 175.42 652.50 Td (e signs of acceler) Tj ET Q q 0 0 0 rg BT 244.35 652.50 Td (a) Tj ET Q q 0 0 0 rg BT 249.05 652.50 Td (ting gr) Tj ET Q q 0 0 0 rg BT 274.95 652.50 Td (o) Tj ET Q q 0 0 0 rg BT 280.18 652.50 Td (w) Tj ET Q q 0 0 0 rg BT 287.35 652.50 Td (th but other global ec) Tj ET Q q 0 0 0 rg BT 374.93 652.50 Td (onomic mark) Tj ET Q q 0 0 0 rg BT 427.99 652.50 Td (e) Tj ET Q q 0 0 0 rg BT 432.91 652.50 Td (ts r) Tj ET Q q 0 0 0 rg BT 445.79 652.50 Td (emain uncert) Tj ET Q q 0 0 0 rg BT 499.78 652.50 Td (ain. Long-) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 640.50 Td (t) Tj ET Q q 0 0 0 rg BT 57.24 640.50 Td (erm bond yields declined in 2014 and during the fir) Tj ET Q q 0 0 0 rg BT 264.47 640.50 Td (s) Tj ET Q q 0 0 0 rg BT 268.27 640.50 Td (t quart) Tj ET Q q 0 0 0 rg BT 295.91 640.50 Td (er of 2015 while mark) Tj ET Q q 0 0 0 rg BT 384.47 640.50 Td (e) Tj ET Q q 0 0 0 rg BT 389.39 640.50 Td (t v) Tj ET Q q 0 0 0 rg BT 399.42 640.50 Td (ola) Tj ET Q q 0 0 0 rg BT 411.69 640.50 Td (tility incr) Tj ET Q q 0 0 0 rg BT 447.19 640.50 Td (eased. Although the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 628.50 Td (equity and long-t) Tj ET Q q 0 0 0 rg BT 123.31 628.50 Td (erm deb) Tj ET Q q 0 0 0 rg BT 157.46 628.50 Td (t mark) Tj ET Q q 0 0 0 rg BT 183.56 628.50 Td (e) Tj ET Q q 0 0 0 rg BT 188.48 628.50 Td (ts r) Tj ET Q q 0 0 0 rg BT 201.35 628.50 Td (emain accessible, pricing c) Tj ET Q q 0 0 0 rg BT 308.46 628.50 Td (an v) Tj ET Q q 0 0 0 rg BT 325.14 628.50 Td (ar) Tj ET Q q 0 0 0 rg BT 333.46 628.50 Td (y based on the curr) Tj ET Q q 0 0 0 rg BT 411.65 628.50 Td (en) Tj ET Q q 0 0 0 rg BT 421.78 628.50 Td (t mark) Tj ET Q q 0 0 0 rg BT 447.88 628.50 Td (e) Tj ET Q q 0 0 0 rg BT 452.80 628.50 Td (t outlook f) Tj ET Q q 0 0 0 rg BT 494.78 628.50 Td (or gr) Tj ET Q q 0 0 0 rg BT 513.83 628.50 Td (o) Tj ET Q q 0 0 0 rg BT 519.07 628.50 Td (w) Tj ET Q q 0 0 0 rg BT 526.24 628.50 Td (th ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 616.50 Td (and in) Tj ET Q q 0 0 0 rg BT 79.01 616.50 Td (t) Tj ET Q q 0 0 0 rg BT 82.26 616.50 Td (er) Tj ET Q q 0 0 0 rg BT 90.59 616.50 Td (es) Tj ET Q q 0 0 0 rg BT 99.36 616.50 Td (t r) Tj ET Q q 0 0 0 rg BT 108.25 616.50 Td (a) Tj ET Q q 0 0 0 rg BT 112.95 616.50 Td (t) Tj ET Q q 0 0 0 rg BT 116.19 616.50 Td (es. The Compan) Tj ET Q q 0 0 0 rg BT 180.93 616.50 Td (y will c) Tj ET Q q 0 0 0 rg BT 208.16 616.50 Td (on) Tj ET Q q 0 0 0 rg BT 218.59 616.50 Td (tinue t) Tj ET Q q 0 0 0 rg BT 245.24 616.50 Td (o f) Tj ET Q q 0 0 0 rg BT 255.61 616.50 Td (ocus on main) Tj ET Q q 0 0 0 rg BT 309.56 616.50 Td (t) Tj ET Q q 0 0 0 rg BT 312.79 616.50 Td (aining access t) Tj ET Q q 0 0 0 rg BT 371.20 616.50 Td (o all sour) Tj ET Q q 0 0 0 rg BT 408.16 616.50 Td (ces of long-t) Tj ET Q q 0 0 0 rg BT 457.95 616.50 Td (erm c) Tj ET Q q 0 0 0 rg BT 480.81 616.50 Td (apit) Tj ET Q q 0 0 0 rg BT 496.37 616.50 Td (al a) Tj ET Q q 0 0 0 rg BT 510.42 616.50 Td (t a ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 604.50 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 604.50 Td (easonable c) Tj ET Q q 0 0 0 rg BT 105.28 604.50 Td (os) Tj ET Q q 0 0 0 rg BT 114.35 604.50 Td (t. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 586.50 Td (In Januar) Tj ET Q q 0 0 0 rg BT 90.85 586.50 Td (y 2015, the Compan) Tj ET Q q 0 0 0 rg BT 172.21 586.50 Td (y c) Tj ET Q q 0 0 0 rg BT 183.14 586.50 Td (omple) Tj ET Q q 0 0 0 rg BT 208.87 586.50 Td (t) Tj ET Q q 0 0 0 rg BT 212.12 586.50 Td (ed the issuance of an additional ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.33 586.50 Td ($90.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 396.08 586.50 Td ( principal amoun) Tj ET Q q 0 0 0 rg BT 464.22 586.50 Td (t of its Series S ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 574.50 Td (senior unsecur) Tj ET Q q 0 0 0 rg BT 113.69 574.50 Td (ed deben) Tj ET Q q 0 0 0 rg BT 151.80 574.50 Td (tur) Tj ET Q q 0 0 0 rg BT 163.76 574.50 Td (es. The deben) Tj ET Q q 0 0 0 rg BT 220.41 574.50 Td (tur) Tj ET Q q 0 0 0 rg BT 232.37 574.50 Td (es ha) Tj ET Q q 0 0 0 rg BT 253.39 574.50 Td (v) Tj ET Q q 0 0 0 rg BT 257.81 574.50 Td (e an e) Tj ET Q q 0 0 0 rg BT 282.24 574.50 Td (f) Tj ET Q q 0 0 0 rg BT 285.20 574.50 Td (f) Tj ET Q q 0 0 0 rg BT 288.00 574.50 Td (ectiv) Tj ET Q q 0 0 0 rg BT 307.27 574.50 Td (e in) Tj ET Q q 0 0 0 rg BT 321.96 574.50 Td (t) Tj ET Q q 0 0 0 rg BT 325.20 574.50 Td (er) Tj ET Q q 0 0 0 rg BT 333.53 574.50 Td (es) Tj ET Q q 0 0 0 rg BT 342.31 574.50 Td (t r) Tj ET Q q 0 0 0 rg BT 351.20 574.50 Td (a) Tj ET Q q 0 0 0 rg BT 355.89 574.50 Td (t) Tj ET Q q 0 0 0 rg BT 359.14 574.50 Td (e of 3.9%, and ma) Tj ET Q q 0 0 0 rg BT 431.77 574.50 Td (tur) Tj ET Q q 0 0 0 rg BT 443.73 574.50 Td (e on July 31, 2025 which ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 562.50 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 562.50 Td (epr) Tj ET Q q 0 0 0 rg BT 70.94 562.50 Td (esen) Tj ET Q q 0 0 0 rg BT 89.96 562.50 Td (t) Tj ET Q q 0 0 0 rg BT 93.20 562.50 Td (ed a t) Tj ET Q q 0 0 0 rg BT 115.99 562.50 Td (erm t) Tj ET Q q 0 0 0 rg BT 137.95 562.50 Td (o ma) Tj ET Q q 0 0 0 rg BT 158.17 562.50 Td (turity of 10.5 y) Tj ET Q q 0 0 0 rg BT 217.67 562.50 Td (ear) Tj ET Q q 0 0 0 rg BT 230.75 562.50 Td (s. 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Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 478.50 Td (Curr) Tj ET Q q 0 0 0 rg BT 71.43 478.50 Td (en) Tj ET Q q 0 0 0 rg BT 81.56 478.50 Td (tly) Tj ET Q q 0 0 0 rg BT 91.02 478.50 Td (, financing is a) Tj ET Q q 0 0 0 rg BT 148.26 478.50 Td (v) Tj ET Q q 0 0 0 rg BT 152.63 478.50 Td (ailable in Canada fr) Tj ET Q q 0 0 0 rg BT 230.24 478.50 Td (om both financial ins) Tj ET Q q 0 0 0 rg BT 315.02 478.50 Td (titutions and the c) Tj ET Q q 0 0 0 rg BT 389.15 478.50 Td (apit) Tj ET Q q 0 0 0 rg BT 404.72 478.50 Td (al mark) Tj ET Q q 0 0 0 rg BT 434.55 478.50 Td (e) Tj ET Q q 0 0 0 rg BT 439.47 478.50 Td (ts, particularly f) Tj ET Q q 0 0 0 rg BT 502.64 478.50 Td (or en) Tj ET Q q 0 0 0 rg BT 523.80 478.50 Td (tities ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 466.50 Td (with g) Tj ET Q q 0 0 0 rg BT 78.95 466.50 Td (ood cr) Tj ET Q q 0 0 0 rg BT 104.59 466.50 Td (edit, including lar) Tj ET Q q 0 0 0 rg BT 174.75 466.50 Td (g) Tj ET Q q 0 0 0 rg BT 179.38 466.50 Td (e r) Tj ET Q q 0 0 0 rg BT 189.97 466.50 Td (eal es) Tj ET Q q 0 0 0 rg BT 213.06 466.50 Td (t) Tj ET Q q 0 0 0 rg BT 216.29 466.50 Td (a) Tj ET Q q 0 0 0 rg BT 220.99 466.50 Td (t) Tj ET Q q 0 0 0 rg BT 224.23 466.50 Td (e c) Tj ET Q q 0 0 0 rg BT 235.61 466.50 Td (ompanies. Ho) Tj ET Q q 0 0 0 rg BT 291.60 466.50 Td (w) Tj ET Q q 0 0 0 rg BT 298.66 466.50 Td (e) Tj ET Q q 0 0 0 rg BT 303.59 466.50 Td (v) Tj ET Q q 0 0 0 rg BT 308.01 466.50 Td (er) Tj ET Q q 0 0 0 rg BT 315.61 466.50 Td (, r) Tj ET Q q 0 0 0 rg BT 323.72 466.50 Td (ela) Tj ET Q q 0 0 0 rg BT 335.69 466.50 Td (tiv) Tj ET Q q 0 0 0 rg BT 345.75 466.50 Td (e t) Tj ET Q q 0 0 0 rg BT 356.24 466.50 Td (o pricing curr) Tj ET Q q 0 0 0 rg BT 409.88 466.50 Td (en) Tj ET Q q 0 0 0 rg BT 420.02 466.50 Td (tly sough) Tj ET Q q 0 0 0 rg BT 456.75 466.50 Td (t b) Tj ET Q q 0 0 0 rg BT 467.57 466.50 Td (y v) Tj ET Q q 0 0 0 rg BT 478.78 466.50 Td (endor) Tj ET Q q 0 0 0 rg BT 502.85 466.50 Td (s of high ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 454.50 Td (quality) Tj ET Q q 0 0 0 rg BT 81.05 454.50 Td (, w) Tj ET Q q 0 0 0 rg BT 92.87 454.50 Td (ell-loc) Tj ET Q q 0 0 0 rg BT 117.21 454.50 Td (a) Tj ET Q q 0 0 0 rg BT 121.91 454.50 Td (t) Tj ET Q q 0 0 0 rg BT 125.15 454.50 Td (ed urban pr) Tj ET Q q 0 0 0 rg BT 172.52 454.50 Td (operties tha) Tj ET Q q 0 0 0 rg BT 221.60 454.50 Td (t mee) Tj ET Q q 0 0 0 rg BT 245.09 454.50 Td (t the Compan) Tj ET Q q 0 0 0 rg BT 300.25 454.50 Td (y) Tj ET Q q 0 0 0 rg BT 305.08 454.50 Td () Tj ET Q q 0 0 0 rg BT 306.96 454.50 Td (s in) Tj ET Q q 0 0 0 rg BT 320.52 454.50 Td (v) Tj ET Q q 0 0 0 rg BT 324.94 454.50 Td (es) Tj ET Q q 0 0 0 rg BT 333.71 454.50 Td (tmen) Tj ET Q q 0 0 0 rg BT 355.19 454.50 Td (t crit) Tj ET Q q 0 0 0 rg BT 374.05 454.50 Td (eria, spr) Tj ET Q q 0 0 0 rg BT 406.87 454.50 Td (eads c) Tj ET Q q 0 0 0 rg BT 432.21 454.50 Td (on) Tj ET Q q 0 0 0 rg BT 442.64 454.50 Td (tinue t) Tj ET Q q 0 0 0 rg BT 469.28 454.50 Td (o be tigh) Tj ET Q q 0 0 0 rg BT 504.82 454.50 Td (t. 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Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (11) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 691.50 Td (C) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 61.31 691.50 Td (ORPORA) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 110.85 691.50 Td (TE RE) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 142.35 691.50 Td (SPONSIBILITY AND SUS) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 275.99 691.50 Td (T) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 281.82 691.50 Td (AINABILITY) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 673.50 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 673.50 Td (y builds v) Tj ET Q q 0 0 0 rg BT 142.75 673.50 Td (alue b) Tj ET Q q 0 0 0 rg BT 167.53 673.50 Td (y cr) Tj ET Q q 0 0 0 rg BT 181.90 673.50 Td (ea) Tj ET Q q 0 0 0 rg BT 191.57 673.50 Td (ting and managing high quality pr) Tj ET Q q 0 0 0 rg BT 327.42 673.50 Td (operties with long-t) Tj ET Q q 0 0 0 rg BT 407.34 673.50 Td (erm appeal in neighbourhoods and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 661.50 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 661.50 Td (ommunities tha) Tj ET Q q 0 0 0 rg BT 122.29 661.50 Td (t the Compan) Tj ET Q q 0 0 0 rg BT 177.45 661.50 Td (y belie) Tj ET Q q 0 0 0 rg BT 203.98 661.50 Td (v) Tj ET Q q 0 0 0 rg BT 208.40 661.50 Td (es will ha) Tj ET Q q 0 0 0 rg BT 245.72 661.50 Td (v) Tj ET Q q 0 0 0 rg BT 250.14 661.50 Td (e a g) Tj ET Q q 0 0 0 rg BT 269.06 661.50 Td (ood and gr) Tj ET Q q 0 0 0 rg BT 312.72 661.50 Td (o) Tj ET Q q 0 0 0 rg BT 317.95 661.50 Td (wing cus) Tj ET Q q 0 0 0 rg BT 352.90 661.50 Td (t) Tj ET Q q 0 0 0 rg BT 356.15 661.50 Td (omer base w) Tj ET Q q 0 0 0 rg BT 408.38 661.50 Td (ell in) Tj ET Q q 0 0 0 rg BT 427.67 661.50 Td (t) Tj ET Q q 0 0 0 rg BT 430.92 661.50 Td (o the futur) Tj ET Q q 0 0 0 rg BT 474.56 661.50 Td (e. The Compan) Tj ET Q q 0 0 0 rg BT 535.39 661.50 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 649.50 Td (also t) Tj ET Q q 0 0 0 rg BT 75.76 649.50 Td (ak) Tj ET Q q 0 0 0 rg BT 84.77 649.50 Td (es a highly disciplined appr) Tj ET Q q 0 0 0 rg BT 193.76 649.50 Td (oach t) Tj ET Q q 0 0 0 rg BT 218.81 649.50 Td (o the de) Tj ET Q q 0 0 0 rg BT 252.37 649.50 Td (v) Tj ET Q q 0 0 0 rg BT 256.79 649.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 292.71 649.50 Td (t and r) Tj ET Q q 0 0 0 rg BT 319.23 649.50 Td (ede) Tj ET Q q 0 0 0 rg BT 334.39 649.50 Td (v) Tj ET Q q 0 0 0 rg BT 338.81 649.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 374.73 649.50 Td (t of the Compan) Tj ET Q q 0 0 0 rg BT 440.47 649.50 Td (y) Tj ET Q q 0 0 0 rg BT 445.30 649.50 Td () Tj ET Q q 0 0 0 rg BT 447.19 649.50 Td (s pr) Tj ET Q q 0 0 0 rg BT 461.94 649.50 Td (operties acr) Tj ET Q q 0 0 0 rg BT 510.06 649.50 Td (oss ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 637.50 Td (Canada. In Ma) Tj ET Q q 0 0 0 rg BT 112.18 637.50 Td (y 2006, the Compan) Tj ET Q q 0 0 0 rg BT 193.55 637.50 Td (y embark) Tj ET Q q 0 0 0 rg BT 231.05 637.50 Td (ed on the pa) Tj ET Q q 0 0 0 rg BT 282.12 637.50 Td (th t) Tj ET Q q 0 0 0 rg BT 296.24 637.50 Td (o) Tj ET Q q 0 0 0 rg BT 301.47 637.50 Td (w) Tj ET Q q 0 0 0 rg BT 308.51 637.50 Td (ar) Tj ET Q q 0 0 0 rg BT 316.65 637.50 Td (ds sus) Tj ET Q q 0 0 0 rg BT 341.04 637.50 Td (t) Tj ET Q q 0 0 0 rg BT 344.26 637.50 Td (ainability with a c) Tj ET Q q 0 0 0 rg BT 415.17 637.50 Td (ommitmen) Tj ET Q q 0 0 0 rg BT 460.19 637.50 Td (t t) Tj ET Q q 0 0 0 rg BT 469.05 637.50 Td (o build all ne) Tj ET Q q 0 0 0 rg BT 521.02 637.50 Td (w ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 625.50 Td (de) Tj ET Q q 0 0 0 rg BT 64.18 625.50 Td (v) Tj ET Q q 0 0 0 rg BT 68.60 625.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 104.52 625.50 Td (ts t) Tj ET Q q 0 0 0 rg BT 117.30 625.50 Td (o Leader) Tj ET Q q 0 0 0 rg BT 152.34 625.50 Td (ship in Ener) Tj ET Q q 0 0 0 rg BT 199.59 625.50 Td (gy and En) Tj ET Q q 0 0 0 rg BT 238.61 625.50 Td (vir) Tj ET Q q 0 0 0 rg BT 248.75 625.50 Td (onmen) Tj ET Q q 0 0 0 rg BT 277.40 625.50 Td (t) Tj ET Q q 0 0 0 rg BT 280.63 625.50 Td (al Design \("LEED"\) s) Tj ET Q q 0 0 0 rg BT 359.80 625.50 Td (t) Tj ET Q q 0 0 0 rg BT 363.02 625.50 Td (andar) Tj ET Q q 0 0 0 rg BT 386.46 625.50 Td (ds subject t) Tj ET Q q 0 0 0 rg BT 432.76 625.50 Td (o t) Tj ET Q q 0 0 0 rg BT 443.54 625.50 Td (enan) Tj ET Q q 0 0 0 rg BT 463.72 625.50 Td (t accep) Tj ET Q q 0 0 0 rg BT 492.76 625.50 Td (t) Tj ET Q q 0 0 0 rg BT 495.99 625.50 Td (ance. In 2009, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 613.50 Td (the Compan) Tj ET Q q 0 0 0 rg BT 103.55 613.50 Td (y published its fir) Tj ET Q q 0 0 0 rg BT 172.82 613.50 Td (s) Tj ET Q q 0 0 0 rg BT 176.62 613.50 Td (t Corpor) Tj ET Q q 0 0 0 rg BT 210.13 613.50 Td (a) Tj ET Q q 0 0 0 rg BT 214.83 613.50 Td (t) Tj ET Q q 0 0 0 rg BT 218.07 613.50 Td (e Sus) Tj ET Q q 0 0 0 rg BT 238.95 613.50 Td (t) Tj ET Q q 0 0 0 rg BT 242.18 613.50 Td (ainability R) Tj ET Q q 0 0 0 rg BT 286.84 613.50 Td (eport iden) Tj ET Q q 0 0 0 rg BT 329.12 613.50 Td (tif) Tj ET Q q 0 0 0 rg BT 337.87 613.50 Td (ying fiv) Tj ET Q q 0 0 0 rg BT 366.68 613.50 Td (e long-t) Tj ET Q q 0 0 0 rg BT 397.75 613.50 Td (erm g) Tj ET Q q 0 0 0 rg BT 421.09 613.50 Td (oals. Since 2011, the Compan) Tj ET Q q 0 0 0 rg BT 540.33 613.50 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 601.50 Td (has published annual Corpor) Tj ET Q q 0 0 0 rg BT 170.02 601.50 Td (a) Tj ET Q q 0 0 0 rg BT 174.72 601.50 Td (t) Tj ET Q q 0 0 0 rg BT 177.96 601.50 Td (e R) Tj ET Q q 0 0 0 rg BT 190.45 601.50 Td (esponsibility and Sus) Tj ET Q q 0 0 0 rg BT 274.81 601.50 Td (t) Tj ET Q q 0 0 0 rg BT 278.03 601.50 Td (ainability \("CR) Tj ET Q q 0 0 0 rg BT 335.11 601.50 Td (S"\) R) Tj ET Q q 0 0 0 rg BT 354.26 601.50 Td (eports. These CR) Tj ET Q q 0 0 0 rg BT 422.17 601.50 Td (S r) Tj ET Q q 0 0 0 rg BT 432.38 601.50 Td (eports c) Tj ET Q q 0 0 0 rg BT 465.04 601.50 Td (omply with the Global ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 589.50 Td (R) Tj ET Q q 0 0 0 rg BT 59.25 589.50 Td (eporting Initia) Tj ET Q q 0 0 0 rg BT 116.52 589.50 Td (tiv) Tj ET Q q 0 0 0 rg BT 126.58 589.50 Td (e \(GRI\), an in) Tj ET Q q 0 0 0 rg BT 178.66 589.50 Td (t) Tj ET Q q 0 0 0 rg BT 181.90 589.50 Td (erna) Tj ET Q q 0 0 0 rg BT 200.31 589.50 Td (tional non-pr) Tj ET Q q 0 0 0 rg BT 253.25 589.50 Td (ofit or) Tj ET Q q 0 0 0 rg BT 278.11 589.50 Td (g) Tj ET Q q 0 0 0 rg BT 282.63 589.50 Td (aniz) Tj ET Q q 0 0 0 rg BT 298.75 589.50 Td (a) Tj ET Q q 0 0 0 rg BT 303.45 589.50 Td (tion whose manda) Tj ET Q q 0 0 0 rg BT 378.69 589.50 Td (t) Tj ET Q q 0 0 0 rg BT 381.93 589.50 Td (e is t) Tj ET Q q 0 0 0 rg BT 400.88 589.50 Td (o es) Tj ET Q q 0 0 0 rg BT 417.19 589.50 Td (t) Tj ET Q q 0 0 0 rg BT 420.42 589.50 Td (ablish guidelines f) Tj ET Q q 0 0 0 rg BT 492.80 589.50 Td (or CR) Tj ET Q q 0 0 0 rg BT 514.45 589.50 Td (S r) Tj ET Q q 0 0 0 rg BT 524.66 589.50 Td (eports. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 577.50 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 577.50 Td (y is pr) Tj ET Q q 0 0 0 rg BT 128.90 577.50 Td (oud t) Tj ET Q q 0 0 0 rg BT 150.20 577.50 Td (o be Canada's fir) Tj ET Q q 0 0 0 rg BT 217.47 577.50 Td (s) Tj ET Q q 0 0 0 rg BT 221.27 577.50 Td (t publicly tr) Tj ET Q q 0 0 0 rg BT 267.17 577.50 Td (aded r) Tj ET Q q 0 0 0 rg BT 293.06 577.50 Td (eal es) Tj ET Q q 0 0 0 rg BT 316.16 577.50 Td (t) Tj ET Q q 0 0 0 rg BT 319.39 577.50 Td (a) Tj ET Q q 0 0 0 rg BT 324.08 577.50 Td (t) Tj ET Q q 0 0 0 rg BT 327.33 577.50 Td (e c) Tj ET Q q 0 0 0 rg BT 338.71 577.50 Td (ompan) Tj ET Q q 0 0 0 rg BT 367.08 577.50 Td (y t) Tj ET Q q 0 0 0 rg BT 377.12 577.50 Td (o ha) Tj ET Q q 0 0 0 rg BT 394.53 577.50 Td (v) Tj ET Q q 0 0 0 rg BT 398.95 577.50 Td (e issued a GRI-c) Tj ET Q q 0 0 0 rg BT 462.56 577.50 Td (omplian) Tj ET Q q 0 0 0 rg BT 495.62 577.50 Td (t and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 565.50 Td (e) Tj ET Q q 0 0 0 rg BT 58.82 565.50 Td (x) Tj ET Q q 0 0 0 rg BT 63.18 565.50 Td (t) Tj ET Q q 0 0 0 rg BT 66.43 565.50 Td (ernally assur) Tj ET Q q 0 0 0 rg BT 117.53 565.50 Td (ed CR) Tj ET Q q 0 0 0 rg BT 140.65 565.50 Td (S r) Tj ET Q q 0 0 0 rg BT 150.86 565.50 Td (eport. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 547.50 Td (In April 2014, the Compan) Tj ET Q q 0 0 0 rg BT 159.99 547.50 Td (y w) Tj ET Q q 0 0 0 rg BT 173.81 547.50 Td (as r) Tj ET Q q 0 0 0 rg BT 188.05 547.50 Td (ank) Tj ET Q q 0 0 0 rg BT 202.32 547.50 Td (ed six) Tj ET Q q 0 0 0 rg BT 225.38 547.50 Td (th in Corpor) Tj ET Q q 0 0 0 rg BT 273.95 547.50 Td (a) Tj ET Q q 0 0 0 rg BT 278.65 547.50 Td (t) Tj ET Q q 0 0 0 rg BT 281.89 547.50 Td (e K) Tj ET Q q 0 0 0 rg BT 294.17 547.50 Td (nigh) Tj ET Q q 0 0 0 rg BT 311.58 547.50 Td (ts Inaugur) Tj ET Q q 0 0 0 rg BT 352.16 547.50 Td (al Futur) Tj ET Q q 0 0 0 rg BT 383.32 547.50 Td (e 40 R) Tj ET Q q 0 0 0 rg BT 408.20 547.50 Td (esponsible Corpor) Tj ET Q q 0 0 0 rg BT 481.76 547.50 Td (a) Tj ET Q q 0 0 0 rg BT 486.46 547.50 Td (t) Tj ET Q q 0 0 0 rg BT 489.70 547.50 Td (e Leader) Tj ET Q q 0 0 0 rg BT 524.45 547.50 Td (s in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 535.50 Td (Canada. This r) Tj ET Q q 0 0 0 rg BT 110.87 535.50 Td (anking e) Tj ET Q q 0 0 0 rg BT 144.90 535.50 Td (v) Tj ET Q q 0 0 0 rg BT 149.27 535.50 Td (alua) Tj ET Q q 0 0 0 rg BT 166.31 535.50 Td (t) Tj ET Q q 0 0 0 rg BT 169.55 535.50 Td (ed mor) Tj ET Q q 0 0 0 rg BT 198.66 535.50 Td (e than 200 c) Tj ET Q q 0 0 0 rg BT 248.41 535.50 Td (ompanies with r) Tj ET Q q 0 0 0 rg BT 314.08 535.50 Td (e) Tj ET Q q 0 0 0 rg BT 319.00 535.50 Td (v) Tj ET Q q 0 0 0 rg BT 323.42 535.50 Td (enues of less than $2.0 billion dollar) Tj ET Q q 0 0 0 rg BT 469.34 535.50 Td (s f) Tj ET Q q 0 0 0 rg BT 478.35 535.50 Td (or their ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 523.50 Td (sus) Tj ET Q q 0 0 0 rg BT 66.96 523.50 Td (t) Tj ET Q q 0 0 0 rg BT 70.19 523.50 Td (ainability and disclosur) Tj ET Q q 0 0 0 rg BT 162.93 523.50 Td (e pr) Tj ET Q q 0 0 0 rg BT 178.70 523.50 Td (actices. The Compan) Tj ET Q q 0 0 0 rg BT 262.33 523.50 Td (y w) Tj ET Q q 0 0 0 rg BT 276.16 523.50 Td (as the highes) Tj ET Q q 0 0 0 rg BT 329.24 523.50 Td (t r) Tj ET Q q 0 0 0 rg BT 338.14 523.50 Td (ank) Tj ET Q q 0 0 0 rg BT 352.40 523.50 Td (ed r) Tj ET Q q 0 0 0 rg BT 368.25 523.50 Td (eal es) Tj ET Q q 0 0 0 rg BT 391.34 523.50 Td (t) Tj ET Q q 0 0 0 rg BT 394.57 523.50 Td (a) Tj ET Q q 0 0 0 rg BT 399.27 523.50 Td (t) Tj ET Q q 0 0 0 rg BT 402.51 523.50 Td (e c) Tj ET Q q 0 0 0 rg BT 413.89 523.50 Td (ompan) Tj ET Q q 0 0 0 rg BT 442.27 523.50 Td (y in this lis) Tj ET Q q 0 0 0 rg BT 484.32 523.50 Td (t. In June 2014, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 511.50 Td (the Compan) Tj ET Q q 0 0 0 rg BT 103.55 511.50 Td (y r) Tj ET Q q 0 0 0 rg BT 113.69 511.50 Td (esponded t) Tj ET Q q 0 0 0 rg BT 159.35 511.50 Td (o the 2014 Carbon Disclosur) Tj ET Q q 0 0 0 rg BT 273.58 511.50 Td (e Pr) Tj ET Q q 0 0 0 rg BT 289.31 511.50 Td (oject In) Tj ET Q q 0 0 0 rg BT 319.51 511.50 Td (f) Tj ET Q q 0 0 0 rg BT 322.35 511.50 Td (orma) Tj ET Q q 0 0 0 rg BT 343.79 511.50 Td (tion R) Tj ET Q q 0 0 0 rg BT 367.48 511.50 Td (eques) Tj ET Q q 0 0 0 rg BT 391.74 511.50 Td (t, disclosing in) Tj ET Q q 0 0 0 rg BT 449.02 511.50 Td (f) Tj ET Q q 0 0 0 rg BT 451.86 511.50 Td (orma) Tj ET Q q 0 0 0 rg BT 473.31 511.50 Td (tion on the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 499.50 Td (Compan) Tj ET Q q 0 0 0 rg BT 87.71 499.50 Td (y) Tj ET Q q 0 0 0 rg BT 92.54 499.50 Td () Tj ET Q q 0 0 0 rg BT 94.42 499.50 Td (s gr) Tj ET Q q 0 0 0 rg BT 108.65 499.50 Td (eenhouse g) Tj ET Q q 0 0 0 rg BT 155.31 499.50 Td (as emissions, ener) Tj ET Q q 0 0 0 rg BT 229.40 499.50 Td (gy use, and risk) Tj ET Q q 0 0 0 rg BT 291.49 499.50 Td (s and opportunities fr) Tj ET Q q 0 0 0 rg BT 379.08 499.50 Td (om clima) Tj ET Q q 0 0 0 rg BT 416.11 499.50 Td (t) Tj ET Q q 0 0 0 rg BT 419.35 499.50 Td (e chang) Tj ET Q q 0 0 0 rg BT 450.74 499.50 Td (e. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 481.50 Td (On the en) Tj ET Q q 0 0 0 rg BT 94.04 481.50 Td (vir) Tj ET Q q 0 0 0 rg BT 104.18 481.50 Td (onmen) Tj ET Q q 0 0 0 rg BT 132.83 481.50 Td (t) Tj ET Q q 0 0 0 rg BT 136.06 481.50 Td (al fr) Tj ET Q q 0 0 0 rg BT 151.78 481.50 Td (on) Tj ET Q q 0 0 0 rg BT 162.21 481.50 Td (t, the Compan) Tj ET Q q 0 0 0 rg BT 219.86 481.50 Td (y c) Tj ET Q q 0 0 0 rg BT 230.80 481.50 Td (on) Tj ET Q q 0 0 0 rg BT 241.23 481.50 Td (tinues t) Tj ET Q q 0 0 0 rg BT 271.78 481.50 Td (o de) Tj ET Q q 0 0 0 rg BT 289.50 481.50 Td (v) Tj ET Q q 0 0 0 rg BT 293.92 481.50 Td (elop its pr) Tj ET Q q 0 0 0 rg BT 334.37 481.50 Td (operties t) Tj ET Q q 0 0 0 rg BT 373.40 481.50 Td (o LEED s) Tj ET Q q 0 0 0 rg BT 407.12 481.50 Td (t) Tj ET Q q 0 0 0 rg BT 410.35 481.50 Td (andar) Tj ET Q q 0 0 0 rg BT 433.79 481.50 Td (ds subject t) Tj ET Q q 0 0 0 rg BT 480.09 481.50 Td (o t) Tj ET Q q 0 0 0 rg BT 490.87 481.50 Td (enan) Tj ET Q q 0 0 0 rg BT 511.05 481.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 469.50 Td (accep) Tj ET Q q 0 0 0 rg BT 77.43 469.50 Td (t) Tj ET Q q 0 0 0 rg BT 80.66 469.50 Td (ance. 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ET q 0 0 0 rg BT 463.70 386.75 Td (221,949) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.90 386.75 Td (209,150) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 373.75 Td (En) Tj ET Q q 0 0 0 rg BT 78.04 373.75 Td (t) Tj ET Q q 0 0 0 rg BT 80.96 373.75 Td (erprise v) Tj ET Q q 0 0 0 rg BT 112.47 373.75 Td (alue ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 130.09 377.56 Td (\(5\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 373.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 456.80 373.75 Td (8,116,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 373.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 515.10 373.75 Td (7,485,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 360.75 Td (Ne) Tj ET Q q 0 0 0 rg BT 79.24 360.75 Td (t deb) Tj ET Q q 0 0 0 rg BT 98.18 360.75 Td (t t) Tj ET Q q 0 0 0 rg BT 106.16 360.75 Td (o t) Tj ET Q q 0 0 0 rg BT 115.87 360.75 Td (ot) Tj ET Q q 0 0 0 rg BT 123.52 360.75 Td (al asse) Tj ET Q q 0 0 0 rg BT 147.71 360.75 Td (ts ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 156.28 364.56 Td (\(5\) \(6\)) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 169.03 365.04 Td ( ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 170.35 364.56 Td (\(7\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 477.30 360.75 Td (41.8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 493.40 360.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 360.75 Td (43.6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 360.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 347.75 Td (Weighted average maturity on mortgages and senior unsecured debentures \(years\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 485.45 347.75 Td (5.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 540.15 347.75 Td (5.5) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (13) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 701.5 m 442.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 701.5 m 500.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 701.5 m 558.5 701.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 676.5 m 442.5 676.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 676.5 m 500.5 676.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 676.5 m 558.5 676.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 521.5 m 558.5 521.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 521.5 m 442.5 521.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 521.5 m 500.5 521.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 465.5 m 500.5 465.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 465.5 m 558.5 465.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 465.5 m 442.5 465.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 465.5 m 500.5 465.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 465.5 m 558.5 465.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 395.5 m 442.5 395.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 395.5 m 500.5 395.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 395.5 m 558.5 395.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 325.5 m 442.5 325.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 325.5 m 500.5 325.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 325.5 m 558.5 325.5 l s BT /F4 9.00 Tf ET q 0 0 0 rg BT 57.00 692.25 Td (Three months ended March 31) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 57.00 680.25 Td (\(thousands of dollars, except per share and other data\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 475.15 680.25 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.30 680.25 Td (2014) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 667.25 Td (Revenues, Income and Cash Flows) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 653.25 Td (R) Tj ET Q q 0 0 0 rg BT 67.73 653.25 Td (e) Tj ET Q q 0 0 0 rg BT 72.16 653.25 Td (v) Tj ET Q q 0 0 0 rg BT 76.14 653.25 Td (enues ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 100.11 657.54 Td (\(8\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 653.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 463.70 653.25 Td (167,942) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 653.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.90 653.25 Td (165,477) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 639.25 Td (Ne) Tj ET Q q 0 0 0 rg BT 73.24 639.25 Td (t oper) Tj ET Q q 0 0 0 rg BT 95.19 639.25 Td (a) Tj ET Q q 0 0 0 rg BT 99.42 639.25 Td (ting inc) Tj ET Q q 0 0 0 rg BT 126.03 639.25 Td (ome \(NOI\)) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 171.50 643.54 Td ( ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 172.82 643.06 Td (\(8\) \(9\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 639.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 463.70 639.25 Td (100,093) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 639.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 639.25 Td (98,584) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 624.25 Td (Corpor) Tj ET Q q 0 0 0 rg BT 88.11 624.25 Td (a) Tj ET Q q 0 0 0 rg BT 92.34 624.25 Td (t) Tj ET Q q 0 0 0 rg BT 95.26 624.25 Td (e e) Tj ET Q q 0 0 0 rg BT 106.11 624.25 Td (xpenses, e) Tj ET Q q 0 0 0 rg BT 144.08 624.25 Td (x) Tj ET Q q 0 0 0 rg BT 147.78 624.25 Td (cluding non-c) Tj ET Q q 0 0 0 rg BT 196.86 624.25 Td (ash c) Tj ET Q q 0 0 0 rg BT 215.19 624.25 Td (ompensa) Tj ET Q q 0 0 0 rg BT 248.81 624.25 Td (tion and incr) Tj ET Q q 0 0 0 rg BT 294.82 624.25 Td (emen) Tj ET Q q 0 0 0 rg BT 315.61 624.25 Td (t) Tj ET Q q 0 0 0 rg BT 318.51 624.25 Td (al leasing c) Tj ET Q q 0 0 0 rg BT 358.09 624.25 Td (os) Tj ET Q q 0 0 0 rg BT 366.26 624.25 Td (ts ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 374.83 628.06 Td (\(6\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 610.25 Td (As a percentage of rental revenue) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 481.85 610.25 Td (4.7) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 493.40 610.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 540.15 610.25 Td (3.5) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 610.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 596.25 Td (As a percentage of total assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 481.85 596.25 Td (0.4) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 493.40 596.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 540.15 596.25 Td (0.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 596.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 582.25 Td (Decr) Tj ET Q q 0 0 0 rg BT 79.84 582.25 Td (ease in v) Tj ET Q q 0 0 0 rg BT 111.42 582.25 Td (alue of in) Tj ET Q q 0 0 0 rg BT 145.21 582.25 Td (v) Tj ET Q q 0 0 0 rg BT 149.19 582.25 Td (es) Tj ET Q q 0 0 0 rg BT 157.09 582.25 Td (tmen) Tj ET Q q 0 0 0 rg BT 176.41 582.25 Td (t pr) Tj ET Q q 0 0 0 rg BT 189.18 582.25 Td (operties, ne) Tj ET Q q 0 0 0 rg BT 232.79 582.25 Td (t) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 235.81 586.54 Td ( ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 237.13 586.06 Td (\(8\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 582.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 476.90 582.25 Td (\(334) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 493.40 582.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 582.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.30 582.25 Td (\(6,288) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 582.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 568.25 Td (Net income attributable to common shareholders) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 568.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.25 568.25 Td (45,901) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 568.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 568.25 Td (35,214) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 554.25 Td (Net income per share attributable to common shareholders \(diluted\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 554.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 477.30 554.25 Td (0.21) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 554.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 554.25 Td (0.17) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 540.25 Td (Cash provided by operating activities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 540.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.25 540.25 Td (37,648) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 540.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 540.25 Td (70,131) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 526.25 Td (Adjus) Tj ET Q q 0 0 0 rg BT 83.24 526.25 Td (t) Tj ET Q q 0 0 0 rg BT 86.15 526.25 Td (ed c) Tj ET Q q 0 0 0 rg BT 101.13 526.25 Td (ash flo) Tj ET Q q 0 0 0 rg BT 125.24 526.25 Td (w fr) Tj ET Q q 0 0 0 rg BT 139.45 526.25 Td (om oper) Tj ET Q q 0 0 0 rg BT 170.33 526.25 Td (a) Tj ET Q q 0 0 0 rg BT 174.56 526.25 Td (ting activities ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 225.07 530.06 Td (\(5\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 526.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.25 526.25 Td (53,802) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 526.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 526.25 Td (62,945) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 512.25 Td (Dividends) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 498.25 Td (Regular dividends) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 498.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.25 498.25 Td (47,759) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 498.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 498.25 Td (43,967) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 484.25 Td (Regular dividends per common share) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 484.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.75 484.25 Td (0.215) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 484.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.00 484.25 Td (0.210) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 470.25 Td (W) Tj ET Q q 0 0 0 rg BT 70.68 470.25 Td (eigh) Tj ET Q q 0 0 0 rg BT 86.10 470.25 Td (t) Tj ET Q q 0 0 0 rg BT 89.02 470.25 Td (ed a) Tj ET Q q 0 0 0 rg BT 104.42 470.25 Td (v) Tj ET Q q 0 0 0 rg BT 108.40 470.25 Td (er) Tj ET Q q 0 0 0 rg BT 115.83 470.25 Td (ag) Tj ET Q q 0 0 0 rg BT 124.30 470.25 Td (e number of c) Tj ET Q q 0 0 0 rg BT 175.10 470.25 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 221.31 470.25 Td (es dilut) Tj ET Q q 0 0 0 rg BT 254.37 470.25 Td (ed) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 263.58 474.54 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 264.90 470.25 Td (\(in thousands\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 463.70 470.25 Td (223,652) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.90 470.25 Td (209,597) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 456.25 Td (Funds fr) Tj ET Q q 0 0 0 rg BT 87.18 456.25 Td (om Oper) Tj ET Q q 0 0 0 rg BT 119.82 456.25 Td (a) Tj ET Q q 0 0 0 rg BT 124.18 456.25 Td (tions \(FF) Tj ET Q q 0 0 0 rg BT 159.72 456.25 Td (O) Tj ET Q q 0 0 0 rg BT 165.87 456.25 Td (\)) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 172.59 460.54 Td ( ) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 173.92 460.06 Td (\(9\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 442.25 Td (FFO) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 442.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.25 442.25 Td (55,432) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 442.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 442.25 Td (53,461) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 428.25 Td (FFO per diluted share) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 428.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 477.30 428.25 Td (0.25) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 428.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 428.25 Td (0.26) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 414.25 Td (Oper) Tj ET Q q 0 0 0 rg BT 81.12 414.25 Td (a) Tj ET Q q 0 0 0 rg BT 85.35 414.25 Td (ting FF) Tj ET Q q 0 0 0 rg BT 109.62 414.25 Td (O ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 117.61 418.06 Td (\(9\) \(10\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 414.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.25 414.25 Td (55,054) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 414.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 414.25 Td (52,073) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 400.25 Td (Operating FFO per diluted share) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 400.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 477.30 400.25 Td (0.25) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 400.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 400.25 Td (0.25) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 386.25 Td (Adjus) Tj ET Q q 0 0 0 rg BT 77.90 386.25 Td (t) Tj ET Q q 0 0 0 rg BT 80.91 386.25 Td (ed Funds fr) Tj ET Q q 0 0 0 rg BT 122.49 386.25 Td (om Oper) Tj ET Q q 0 0 0 rg BT 155.13 386.25 Td (a) Tj ET Q q 0 0 0 rg BT 159.49 386.25 Td (tions \() Tj ET Q q 0 0 0 rg BT 186.11 386.25 Td (AFF) Tj ET Q q 0 0 0 rg BT 199.76 386.25 Td (O) Tj ET Q q 0 0 0 rg BT 205.91 386.25 Td (\) ) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 214.67 390.06 Td (\(9\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 372.25 Td (AFFO) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 372.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.25 372.25 Td (57,960) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 372.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 372.25 Td (53,978) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 358.25 Td (AFFO per diluted share) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 358.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 477.30 358.25 Td (0.24) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 358.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 358.25 Td (0.24) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 344.25 Td (Oper) Tj ET Q q 0 0 0 rg BT 81.12 344.25 Td (a) Tj ET Q q 0 0 0 rg BT 85.35 344.25 Td (ting AFF) Tj ET Q q 0 0 0 rg BT 114.82 344.25 Td (O) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 120.78 344.25 Td ( ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 122.59 348.06 Td (\(9\) \(11\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 344.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.25 344.25 Td (57,095) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 344.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 344.25 Td (53,497) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 330.25 Td (Operating AFFO per diluted share) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 330.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 477.30 330.25 Td (0.24) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 330.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 330.25 Td (0.24) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 317.94 Td (\(1\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 314.60 Td (Same Pr) Tj ET Q q 0 0 0 rg BT 86.17 314.60 Td (operty s) Tj ET Q q 0 0 0 rg BT 114.29 314.60 Td (t) Tj ET Q q 0 0 0 rg BT 116.55 314.60 Td (able NOI and T) Tj ET Q q 0 0 0 rg BT 157.83 314.60 Td (ot) Tj ET Q q 0 0 0 rg BT 163.78 314.60 Td (al Same Pr) Tj ET Q q 0 0 0 rg BT 193.49 314.60 Td (operty NOI ar) Tj ET Q q 0 0 0 rg BT 232.08 314.60 Td (e measur) Tj ET Q q 0 0 0 rg BT 258.34 314.60 Td (es of oper) Tj ET Q q 0 0 0 rg BT 286.70 314.60 Td (a) Tj ET Q q 0 0 0 rg BT 289.99 314.60 Td (ting perf) Tj ET Q q 0 0 0 rg BT 314.08 314.60 Td (ormance not de) Tj ET Q q 0 0 0 rg BT 359.26 314.60 Td (fined b) Tj ET Q q 0 0 0 rg BT 379.07 314.60 Td (y IFR) Tj ET Q q 0 0 0 rg BT 392.51 314.60 Td (S. R) Tj ET Q q 0 0 0 rg BT 402.75 314.60 Td (e) Tj ET Q q 0 0 0 rg BT 406.17 314.60 Td (f) Tj ET Q q 0 0 0 rg BT 408.13 314.60 Td (er t) Tj ET Q q 0 0 0 rg BT 417.92 314.60 Td (o the ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 434.28 314.60 Td (Business and Oper) Tj ET Q q 0 0 0 rg BT 489.64 314.60 Td (a) Tj ET Q q 0 0 0 rg BT 492.93 314.60 Td (tions R) Tj ET Q q 0 0 0 rg BT 512.24 314.60 Td (e) Tj ET Q q 0 0 0 rg BT 515.69 314.60 Td (vie) Tj ET Q q 0 0 0 rg BT 523.91 314.60 Td (w R) Tj ET Q q 0 0 0 rg BT 539.24 314.60 Td (eal ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 306.20 Td (Es) Tj ET Q q 0 0 0 rg BT 69.08 306.20 Td (t) Tj ET Q q 0 0 0 rg BT 71.34 306.20 Td (a) Tj ET Q q 0 0 0 rg BT 74.62 306.20 Td (t) Tj ET Q q 0 0 0 rg BT 76.89 306.20 Td (e In) Tj ET Q q 0 0 0 rg BT 87.28 306.20 Td (v) Tj ET Q q 0 0 0 rg BT 90.38 306.20 Td (es) Tj ET Q q 0 0 0 rg BT 96.52 306.20 Td (tmen) Tj ET Q q 0 0 0 rg BT 111.55 306.20 Td (ts - In) Tj ET Q q 0 0 0 rg BT 127.27 306.20 Td (v) Tj ET Q q 0 0 0 rg BT 130.36 306.20 Td (es) Tj ET Q q 0 0 0 rg BT 136.50 306.20 Td (tmen) Tj ET Q q 0 0 0 rg BT 151.54 306.20 Td (t Pr) Tj ET Q q 0 0 0 rg BT 161.41 306.20 Td (operty Ca) Tj ET Q q 0 0 0 rg BT 188.82 306.20 Td (t) Tj ET Q q 0 0 0 rg BT 191.08 306.20 Td (eg) Tj ET Q q 0 0 0 rg BT 197.81 306.20 Td (ories) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 214.70 306.20 Td ( section of this MD&A) Tj ET Q q 0 0 0 rg BT 276.89 306.20 Td (. ) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 298.19 Td (\(2\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 59.06 294.85 Td ( ) Tj ET Q q 0 0 0 rg BT 63.00 294.85 Td (Squar) Tj ET Q q 0 0 0 rg BT 79.27 294.85 Td (e f) Tj ET Q q 0 0 0 rg BT 86.33 294.85 Td (oot) Tj ET Q q 0 0 0 rg BT 95.97 294.85 Td (ag) Tj ET Q q 0 0 0 rg BT 102.56 294.85 Td (e does not include pot) Tj ET Q q 0 0 0 rg BT 166.00 294.85 Td (en) Tj ET Q q 0 0 0 rg BT 173.10 294.85 Td (tial de) Tj ET Q q 0 0 0 rg BT 190.72 294.85 Td (v) Tj ET Q q 0 0 0 rg BT 193.81 294.85 Td (elopmen) Tj ET Q q 0 0 0 rg BT 218.96 294.85 Td (t on pr) Tj ET Q q 0 0 0 rg BT 237.84 294.85 Td (operties held thr) Tj ET Q q 0 0 0 rg BT 285.27 294.85 Td (ough the Compan) Tj ET Q q 0 0 0 rg BT 335.87 294.85 Td (y) Tj ET Q q 0 0 0 rg BT 339.25 294.85 Td () Tj ET Q q 0 0 0 rg BT 340.57 294.85 Td (s Main and Main De) Tj ET Q q 0 0 0 rg BT 397.35 294.85 Td (v) Tj ET Q q 0 0 0 rg BT 400.44 294.85 Td (elopmen) Tj ET Q q 0 0 0 rg BT 425.59 294.85 Td (ts LP \("Main and Main De) Tj ET Q q 0 0 0 rg BT 497.78 294.85 Td (v) Tj ET Q q 0 0 0 rg BT 500.87 294.85 Td (elopmen) Tj ET Q q 0 0 0 rg BT 526.02 294.85 Td (ts"\) join) Tj ET Q q 0 0 0 rg BT 548.20 294.85 Td (t ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 286.45 Td (v) Tj ET Q q 0 0 0 rg BT 66.09 286.45 Td (en) Tj ET Q q 0 0 0 rg BT 73.19 286.45 Td (tur) Tj ET Q q 0 0 0 rg BT 81.56 286.45 Td (e. R) Tj ET Q q 0 0 0 rg BT 92.07 286.45 Td (e) Tj ET Q q 0 0 0 rg BT 95.49 286.45 Td (f) Tj ET Q q 0 0 0 rg BT 97.45 286.45 Td (er t) Tj ET Q q 0 0 0 rg BT 107.24 286.45 Td (o the ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 123.60 286.45 Td (Business and Oper) Tj ET Q q 0 0 0 rg BT 178.96 286.45 Td (a) Tj ET Q q 0 0 0 rg BT 182.25 286.45 Td (tions R) Tj ET Q q 0 0 0 rg BT 201.56 286.45 Td (e) Tj ET Q q 0 0 0 rg BT 205.01 286.45 Td (vie) Tj ET Q q 0 0 0 rg BT 213.23 286.45 Td (w Pr) Tj ET Q q 0 0 0 rg BT 230.83 286.45 Td (operties Under De) Tj ET Q q 0 0 0 rg BT 282.98 286.45 Td (v) Tj ET Q q 0 0 0 rg BT 286.08 286.45 Td (elopmen) Tj ET Q q 0 0 0 rg BT 311.22 286.45 Td (t Main and Main De) Tj ET Q q 0 0 0 rg BT 372.67 286.45 Td (v) Tj ET Q q 0 0 0 rg BT 375.77 286.45 Td (elopmen) Tj ET Q q 0 0 0 rg BT 400.91 286.45 Td (ts) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 408.93 286.45 Td ( section of this MD&A) Tj ET Q q 0 0 0 rg BT 471.11 286.45 Td (.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 278.39 Td (\(3\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 275.05 Td (Calcula) Tj ET Q q 0 0 0 rg BT 83.22 275.05 Td (t) Tj ET Q q 0 0 0 rg BT 85.49 275.05 Td (ed based on the y) Tj ET Q q 0 0 0 rg BT 135.87 275.05 Td (ear) Tj ET Q q 0 0 0 rg BT 144.94 275.05 Td (-t) Tj ET Q q 0 0 0 rg BT 149.36 275.05 Td (o-da) Tj ET Q q 0 0 0 rg BT 162.16 275.05 Td (t) Tj ET Q q 0 0 0 rg BT 164.43 275.05 Td (e NOI.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 266.99 Td (\(4\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 263.65 Td (Includes pr) Tj ET Q q 0 0 0 rg BT 94.17 263.65 Td (operties classified as held f) Tj ET Q q 0 0 0 rg BT 170.40 263.65 Td (or sale.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 255.59 Td (\(5\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 252.25 Td (En) Tj ET Q q 0 0 0 rg BT 70.03 252.25 Td (t) Tj ET Q q 0 0 0 rg BT 72.30 252.25 Td (erprise v) Tj ET Q q 0 0 0 rg BT 96.81 252.25 Td (alue, Ne) Tj ET Q q 0 0 0 rg BT 120.22 252.25 Td (t deb) Tj ET Q q 0 0 0 rg BT 134.96 252.25 Td (t t) Tj ET Q q 0 0 0 rg BT 141.16 252.25 Td (o t) Tj ET Q q 0 0 0 rg BT 148.71 252.25 Td (ot) Tj ET Q q 0 0 0 rg BT 154.66 252.25 Td (al asse) Tj ET Q q 0 0 0 rg BT 173.48 252.25 Td (ts and adjus) Tj ET Q q 0 0 0 rg BT 207.48 252.25 Td (t) Tj ET Q q 0 0 0 rg BT 209.75 252.25 Td (ed c) Tj ET Q q 0 0 0 rg BT 221.39 252.25 Td (ash flo) Tj ET Q q 0 0 0 rg BT 240.15 252.25 Td (w fr) Tj ET Q q 0 0 0 rg BT 251.20 252.25 Td (om oper) Tj ET Q q 0 0 0 rg BT 275.21 252.25 Td (a) Tj ET Q q 0 0 0 rg BT 278.50 252.25 Td (ting activities ar) Tj ET Q q 0 0 0 rg BT 323.50 252.25 Td (e measur) Tj ET Q q 0 0 0 rg BT 349.75 252.25 Td (es not de) Tj ET Q q 0 0 0 rg BT 375.95 252.25 Td (fined b) Tj ET Q q 0 0 0 rg BT 395.76 252.25 Td (y IFR) Tj ET Q q 0 0 0 rg BT 409.20 252.25 Td (S. R) Tj ET Q q 0 0 0 rg BT 419.44 252.25 Td (e) Tj ET Q q 0 0 0 rg BT 422.86 252.25 Td (f) Tj ET Q q 0 0 0 rg BT 424.83 252.25 Td (er t) Tj ET Q q 0 0 0 rg BT 434.61 252.25 Td (o the ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 450.97 252.25 Td (Capit) Tj ET Q q 0 0 0 rg BT 468.53 252.25 Td (al Structur) Tj ET Q q 0 0 0 rg BT 498.08 252.25 Td (e and Liquidity ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 243.85 Td (Capit) Tj ET Q q 0 0 0 rg BT 77.63 243.85 Td (al Emplo) Tj ET Q q 0 0 0 rg BT 102.12 243.85 Td (y) Tj ET Q q 0 0 0 rg BT 105.20 243.85 Td (ed) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 115.29 243.85 Td ( section of this MD&A) Tj ET Q q 0 0 0 rg BT 177.47 243.85 Td (.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 235.79 Td (\(6\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 232.45 Td (Calcula) Tj ET Q q 0 0 0 rg BT 83.22 232.45 Td (t) Tj ET Q q 0 0 0 rg BT 85.49 232.45 Td (ed with join) Tj ET Q q 0 0 0 rg BT 119.04 232.45 Td (t v) Tj ET Q q 0 0 0 rg BT 126.06 232.45 Td (en) Tj ET Q q 0 0 0 rg BT 133.15 232.45 Td (tur) Tj ET Q q 0 0 0 rg BT 141.52 232.45 Td (es, including join) Tj ET Q q 0 0 0 rg BT 189.03 232.45 Td (t v) Tj ET Q q 0 0 0 rg BT 196.05 232.45 Td (en) Tj ET Q q 0 0 0 rg BT 203.14 232.45 Td (tur) Tj ET Q q 0 0 0 rg BT 211.51 232.45 Td (es acc) Tj ET Q q 0 0 0 rg BT 228.53 232.45 Td (oun) Tj ET Q q 0 0 0 rg BT 239.51 232.45 Td (t) Tj ET Q q 0 0 0 rg BT 241.78 232.45 Td (ed f) Tj ET Q q 0 0 0 rg BT 252.52 232.45 Td (or on the equity basis under IFR) Tj ET Q q 0 0 0 rg BT 342.73 232.45 Td (S, pr) Tj ET Q q 0 0 0 rg BT 355.28 232.45 Td (oportiona) Tj ET Q q 0 0 0 rg BT 383.39 232.45 Td (t) Tj ET Q q 0 0 0 rg BT 385.66 232.45 Td (ely c) Tj ET Q q 0 0 0 rg BT 398.41 232.45 Td (onsolida) Tj ET Q q 0 0 0 rg BT 422.38 232.45 Td (t) Tj ET Q q 0 0 0 rg BT 424.65 232.45 Td (ed.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 224.39 Td (\(7\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 59.06 221.05 Td ( ) Tj ET Q q 0 0 0 rg BT 63.00 221.05 Td (Calcula) Tj ET Q q 0 0 0 rg BT 83.22 221.05 Td (t) Tj ET Q q 0 0 0 rg BT 85.49 221.05 Td (ed ne) Tj ET Q q 0 0 0 rg BT 101.36 221.05 Td (t of c) Tj ET Q q 0 0 0 rg BT 115.60 221.05 Td (ash balances as a) Tj ET Q q 0 0 0 rg BT 164.34 221.05 Td (t the end of the period.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 212.99 Td (\(8\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 209.65 Td (Calcula) Tj ET Q q 0 0 0 rg BT 83.22 209.65 Td (t) Tj ET Q q 0 0 0 rg BT 85.49 209.65 Td (ed e) Tj ET Q q 0 0 0 rg BT 97.61 209.65 Td (x) Tj ET Q q 0 0 0 rg BT 100.49 209.65 Td (cluding the Compan) Tj ET Q q 0 0 0 rg BT 157.25 209.65 Td (y) Tj ET Q q 0 0 0 rg BT 160.63 209.65 Td () Tj ET Q q 0 0 0 rg BT 161.95 209.65 Td (s pr) Tj ET Q q 0 0 0 rg BT 172.28 209.65 Td (oportiona) Tj ET Q q 0 0 0 rg BT 200.39 209.65 Td (t) Tj ET Q q 0 0 0 rg BT 202.66 209.65 Td (e shar) Tj ET Q q 0 0 0 rg BT 219.84 209.65 Td (e of its join) Tj ET Q q 0 0 0 rg BT 251.17 209.65 Td (t v) Tj ET Q q 0 0 0 rg BT 258.19 209.65 Td (en) Tj ET Q q 0 0 0 rg BT 265.29 209.65 Td (tur) Tj ET Q q 0 0 0 rg BT 273.66 209.65 Td (es.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 201.59 Td (\(9\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 198.25 Td (NOI, FF) Tj ET Q q 0 0 0 rg BT 83.62 198.25 Td (O) Tj ET Q q 0 0 0 rg BT 88.09 198.25 Td (, Oper) Tj ET Q q 0 0 0 rg BT 105.51 198.25 Td (a) Tj ET Q q 0 0 0 rg BT 108.80 198.25 Td (ting FF) Tj ET Q q 0 0 0 rg BT 127.67 198.25 Td (O) Tj ET Q q 0 0 0 rg BT 132.15 198.25 Td (, AFF) Tj ET Q q 0 0 0 rg BT 145.90 198.25 Td (O and Oper) Tj ET Q q 0 0 0 rg BT 178.50 198.25 Td (a) Tj ET Q q 0 0 0 rg BT 181.78 198.25 Td (ting AFF) Tj ET Q q 0 0 0 rg BT 204.71 198.25 Td (O ar) Tj ET Q q 0 0 0 rg BT 216.63 198.25 Td (e measur) Tj ET Q q 0 0 0 rg BT 242.89 198.25 Td (es of oper) Tj ET Q q 0 0 0 rg BT 271.25 198.25 Td (a) Tj ET Q q 0 0 0 rg BT 274.54 198.25 Td (ting perf) Tj ET Q q 0 0 0 rg BT 298.63 198.25 Td (ormance not de) Tj ET Q q 0 0 0 rg BT 343.81 198.25 Td (fined b) Tj ET Q q 0 0 0 rg BT 363.62 198.25 Td (y IFR) Tj ET Q q 0 0 0 rg BT 377.06 198.25 Td (S. R) Tj ET Q q 0 0 0 rg BT 387.30 198.25 Td (e) Tj ET Q q 0 0 0 rg BT 390.72 198.25 Td (f) Tj ET Q q 0 0 0 rg BT 392.68 198.25 Td (er t) Tj ET Q q 0 0 0 rg BT 402.47 198.25 Td (o the ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 418.83 198.25 Td (R) Tj ET Q q 0 0 0 rg BT 425.43 198.25 Td (esults of Oper) Tj ET Q q 0 0 0 rg BT 465.11 198.25 Td (a) Tj ET Q q 0 0 0 rg BT 468.40 198.25 Td (tions Ne) Tj ET Q q 0 0 0 rg BT 497.07 198.25 Td (t Oper) Tj ET Q q 0 0 0 rg BT 515.09 198.25 Td (a) Tj ET Q q 0 0 0 rg BT 518.38 198.25 Td (ting Inc) Tj ET Q q 0 0 0 rg BT 539.23 198.25 Td (ome ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 189.85 Td (\(NOI\), Funds fr) Tj ET Q q 0 0 0 rg BT 110.38 189.85 Td (om Oper) Tj ET Q q 0 0 0 rg BT 135.34 189.85 Td (a) Tj ET Q q 0 0 0 rg BT 138.63 189.85 Td (tions and Adjus) Tj ET Q q 0 0 0 rg BT 182.30 189.85 Td (t) Tj ET Q q 0 0 0 rg BT 184.57 189.85 Td (ed Funds fr) Tj ET Q q 0 0 0 rg BT 216.35 189.85 Td (om Oper) Tj ET Q q 0 0 0 rg BT 241.31 189.85 Td (a) Tj ET Q q 0 0 0 rg BT 244.59 189.85 Td (tions) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 261.58 189.85 Td ( section of this MD&A) Tj ET Q q 0 0 0 rg BT 323.76 189.85 Td (.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 181.79 Td (\(10\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 178.45 Td (Pr) Tj ET Q q 0 0 0 rg BT 68.96 178.45 Td (e) Tj ET Q q 0 0 0 rg BT 72.41 178.45 Td (viously r) Tj ET Q q 0 0 0 rg BT 95.99 178.45 Td (e) Tj ET Q q 0 0 0 rg BT 99.42 178.45 Td (f) Tj ET Q q 0 0 0 rg BT 101.38 178.45 Td (err) Tj ET Q q 0 0 0 rg BT 109.65 178.45 Td (ed t) Tj ET Q q 0 0 0 rg BT 120.67 178.45 Td (o as "FF) Tj ET Q q 0 0 0 rg BT 142.79 178.45 Td (O e) Tj ET Q q 0 0 0 rg BT 152.39 178.45 Td (x) Tj ET Q q 0 0 0 rg BT 155.26 178.45 Td (cluding other g) Tj ET Q q 0 0 0 rg BT 197.73 178.45 Td (ains \(losses\) and \(e) Tj ET Q q 0 0 0 rg BT 251.30 178.45 Td (xpenses\)" in the Compan) Tj ET Q q 0 0 0 rg BT 322.19 178.45 Td (y's 2014 Annual R) Tj ET Q q 0 0 0 rg BT 372.30 178.45 Td (eport. ) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 170.39 Td (\(11\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 167.05 Td (Pr) Tj ET Q q 0 0 0 rg BT 68.96 167.05 Td (e) Tj ET Q q 0 0 0 rg BT 72.41 167.05 Td (viously r) Tj ET Q q 0 0 0 rg BT 95.99 167.05 Td (e) Tj ET Q q 0 0 0 rg BT 99.42 167.05 Td (f) Tj ET Q q 0 0 0 rg BT 101.38 167.05 Td (err) Tj ET Q q 0 0 0 rg BT 109.65 167.05 Td (ed t) Tj ET Q q 0 0 0 rg BT 120.67 167.05 Td (o as "AFF) Tj ET Q q 0 0 0 rg BT 146.84 167.05 Td (O e) Tj ET Q q 0 0 0 rg BT 156.44 167.05 Td (x) Tj ET Q q 0 0 0 rg BT 159.31 167.05 Td (cluding other g) Tj ET Q q 0 0 0 rg BT 201.78 167.05 Td (ains \(losses\) and \(e) Tj ET Q q 0 0 0 rg BT 255.35 167.05 Td (xpenses\)" in the Compan) Tj ET Q q 0 0 0 rg BT 326.24 167.05 Td (y's 2014 Annual R) Tj ET Q q 0 0 0 rg BT 376.35 167.05 Td (eport. ) Tj ET Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (14) Tj ET Q BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 691.50 Td (BUSINE) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 97.25 691.50 Td (SS AND OPERA) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 182.37 691.50 Td (TIONS REVIEW) Tj ET Q BT /F2 12.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 671.10 Td (R) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 60.58 671.10 Td (eal Es) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 88.71 671.10 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 92.75 671.10 Td (a) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 98.57 671.10 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 102.58 671.10 Td (e In) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 120.80 671.10 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 126.37 671.10 Td (es) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 137.06 671.10 Td (tmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 163.35 671.10 Td (ts) Tj ET Q BT /F6 11.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 651.90 Td (In) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 62.57 651.90 Td (ves) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 77.34 651.90 Td (tmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 101.10 651.90 Td (t Property Cat) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 164.71 651.90 Td (egories) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 636.90 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 636.90 Td (y c) Tj ET Q q 0 0 0 rg BT 116.00 636.90 Td (a) Tj ET Q q 0 0 0 rg BT 120.70 636.90 Td (t) Tj ET Q q 0 0 0 rg BT 123.94 636.90 Td (eg) Tj ET Q q 0 0 0 rg BT 133.56 636.90 Td (oriz) Tj ET Q q 0 0 0 rg BT 148.34 636.90 Td (es its pr) Tj ET Q q 0 0 0 rg BT 179.88 636.90 Td (operties f) Tj ET Q q 0 0 0 rg BT 218.50 636.90 Td (or the purposes of e) Tj ET Q q 0 0 0 rg BT 300.46 636.90 Td (v) Tj ET Q q 0 0 0 rg BT 304.83 636.90 Td (alua) Tj ET Q q 0 0 0 rg BT 321.86 636.90 Td (ting oper) Tj ET Q q 0 0 0 rg BT 358.51 636.90 Td (a) Tj ET Q q 0 0 0 rg BT 363.21 636.90 Td (ting perf) Tj ET Q q 0 0 0 rg BT 397.63 636.90 Td (ormance including Same Pr) Tj ET Q q 0 0 0 rg BT 508.09 636.90 Td (operty ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 624.90 Td (NOI. This enables the Compan) Tj ET Q q 0 0 0 rg BT 176.24 624.90 Td (y t) Tj ET Q q 0 0 0 rg BT 186.28 624.90 Td (o r) Tj ET Q q 0 0 0 rg BT 197.16 624.90 Td (e) Tj ET Q q 0 0 0 rg BT 202.05 624.90 Td (flect be) Tj ET Q q 0 0 0 rg BT 232.39 624.90 Td (t) Tj ET Q q 0 0 0 rg BT 235.60 624.90 Td (t) Tj ET Q q 0 0 0 rg BT 238.84 624.90 Td (er its de) Tj ET Q q 0 0 0 rg BT 271.56 624.90 Td (v) Tj ET Q q 0 0 0 rg BT 275.98 624.90 Td (elopmen) Tj ET Q q 0 0 0 rg BT 311.90 624.90 Td (t, r) Tj ET Q q 0 0 0 rg BT 323.36 624.90 Td (ede) Tj ET Q q 0 0 0 rg BT 338.52 624.90 Td (v) Tj ET Q q 0 0 0 rg BT 342.94 624.90 Td (elopmen) Tj ET Q q 0 0 0 rg BT 378.86 624.90 Td (t and r) Tj ET Q q 0 0 0 rg BT 405.38 624.90 Td (epositioning activities on its ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 612.90 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 612.90 Td (operties, including land use in) Tj ET Q q 0 0 0 rg BT 183.66 612.90 Td (t) Tj ET Q q 0 0 0 rg BT 186.91 612.90 Td (ensific) Tj ET Q q 0 0 0 rg BT 212.83 612.90 Td (a) Tj ET Q q 0 0 0 rg BT 217.53 612.90 Td (tion, and its c) Tj ET Q q 0 0 0 rg BT 271.98 612.90 Td (omple) Tj ET Q q 0 0 0 rg BT 297.71 612.90 Td (t) Tj ET Q q 0 0 0 rg BT 300.95 612.90 Td (ed and planned disposition activities. In addition, the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 600.90 Td (Compan) Tj ET Q q 0 0 0 rg BT 87.71 600.90 Td (y r) Tj ET Q q 0 0 0 rg BT 97.85 600.90 Td (e) Tj ET Q q 0 0 0 rg BT 102.77 600.90 Td (vises c) Tj ET Q q 0 0 0 rg BT 128.79 600.90 Td (ompar) Tj ET Q q 0 0 0 rg BT 155.38 600.90 Td (a) Tj ET Q q 0 0 0 rg BT 160.07 600.90 Td (tiv) Tj ET Q q 0 0 0 rg BT 170.14 600.90 Td (e in) Tj ET Q q 0 0 0 rg BT 184.86 600.90 Td (f) Tj ET Q q 0 0 0 rg BT 187.71 600.90 Td (orma) Tj ET Q q 0 0 0 rg BT 209.15 600.90 Td (tion t) Tj ET Q q 0 0 0 rg BT 230.84 600.90 Td (o r) Tj ET Q q 0 0 0 rg BT 241.72 600.90 Td (e) Tj ET Q q 0 0 0 rg BT 246.61 600.90 Td (flect pr) Tj ET Q q 0 0 0 rg BT 275.35 600.90 Td (operty c) Tj ET Q q 0 0 0 rg BT 308.62 600.90 Td (a) Tj ET Q q 0 0 0 rg BT 313.32 600.90 Td (t) Tj ET Q q 0 0 0 rg BT 316.56 600.90 Td (eg) Tj ET Q q 0 0 0 rg BT 326.18 600.90 Td (ories c) Tj ET Q q 0 0 0 rg BT 352.53 600.90 Td (onsis) Tj ET Q q 0 0 0 rg BT 373.06 600.90 Td (t) Tj ET Q q 0 0 0 rg BT 376.30 600.90 Td (en) Tj ET Q q 0 0 0 rg BT 386.44 600.90 Td (t with curr) Tj ET Q q 0 0 0 rg BT 428.68 600.90 Td (en) Tj ET Q q 0 0 0 rg BT 438.81 600.90 Td (t period s) Tj ET Q q 0 0 0 rg BT 477.02 600.90 Td (t) Tj ET Q q 0 0 0 rg BT 480.25 600.90 Td (a) Tj ET Q q 0 0 0 rg BT 484.95 600.90 Td (tus. The ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 588.90 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 588.90 Td (operty c) Tj ET Q q 0 0 0 rg BT 95.85 588.90 Td (a) Tj ET Q q 0 0 0 rg BT 100.55 588.90 Td (t) Tj ET Q q 0 0 0 rg BT 103.79 588.90 Td (eg) Tj ET Q q 0 0 0 rg BT 113.40 588.90 Td (ories ar) Tj ET Q q 0 0 0 rg BT 143.75 588.90 Td (e as f) Tj ET Q q 0 0 0 rg BT 164.79 588.90 Td (ollo) Tj ET Q q 0 0 0 rg BT 179.89 588.90 Td (w) Tj ET Q q 0 0 0 rg BT 186.95 588.90 Td (s:) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 573.90 Td (In) Tj ET Q q 0 0 0 rg BT 61.49 573.90 Td (ves) Tj ET Q q 0 0 0 rg BT 74.50 573.90 Td (tmen) Tj ET Q q 0 0 0 rg BT 95.58 573.90 Td (t properties ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 144.81 573.90 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 152.05 573.90 Td (shopping c) Tj ET Q q 0 0 0 rg BT 195.43 573.90 Td (en) Tj ET Q q 0 0 0 rg BT 205.25 573.90 Td (tres ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 222.96 573.90 Td () Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 227.94 573.90 Td ( Same Property c) Tj ET Q q 0 0 0 rg BT 296.04 573.90 Td (onsis) Tj ET Q q 0 0 0 rg BT 316.28 573.90 Td (ting of:) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 72.00 558.90 Td (Same Property ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 133.76 558.90 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 141.00 558.90 Td (s) Tj ET Q q 0 0 0 rg BT 144.78 558.90 Td (t) Tj ET Q q 0 0 0 rg BT 148.00 558.90 Td (able) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 165.35 558.90 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 167.61 558.90 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 174.85 558.90 Td (includes s) Tj ET Q q 0 0 0 rg BT 214.38 558.90 Td (t) Tj ET Q q 0 0 0 rg BT 217.61 558.90 Td (able pr) Tj ET Q q 0 0 0 rg BT 245.76 558.90 Td (operties wher) Tj ET Q q 0 0 0 rg BT 302.27 558.90 Td (e the only signific) Tj ET Q q 0 0 0 rg BT 372.91 558.90 Td (an) Tj ET Q q 0 0 0 rg BT 382.86 558.90 Td (t activities ar) Tj ET Q q 0 0 0 rg BT 434.89 558.90 Td (e leasing and ong) Tj ET Q q 0 0 0 rg BT 505.33 558.90 Td (oing ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 546.90 Td (main) Tj ET Q q 0 0 0 rg BT 92.23 546.90 Td (t) Tj ET Q q 0 0 0 rg BT 95.48 546.90 Td (enance. Pr) Tj ET Q q 0 0 0 rg BT 138.23 546.90 Td (operties tha) Tj ET Q q 0 0 0 rg BT 187.31 546.90 Td (t will be under) Tj ET Q q 0 0 0 rg BT 245.79 546.90 Td (g) Tj ET Q q 0 0 0 rg BT 250.43 546.90 Td (oing a r) Tj ET Q q 0 0 0 rg BT 280.63 546.90 Td (ede) Tj ET Q q 0 0 0 rg BT 295.78 546.90 Td (v) Tj ET Q q 0 0 0 rg BT 300.20 546.90 Td (elopmen) Tj ET Q q 0 0 0 rg BT 336.13 546.90 Td (t in a futur) Tj ET Q q 0 0 0 rg BT 378.86 546.90 Td (e period, including adjacen) Tj ET Q q 0 0 0 rg BT 488.08 546.90 Td (t par) Tj ET Q q 0 0 0 rg BT 507.07 546.90 Td (cels of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 534.90 Td (land, and those ha) Tj ET Q q 0 0 0 rg BT 146.81 534.90 Td (ving planning activities under) Tj ET Q q 0 0 0 rg BT 265.75 534.90 Td (w) Tj ET Q q 0 0 0 rg BT 272.79 534.90 Td (a) Tj ET Q q 0 0 0 rg BT 277.39 534.90 Td (y ar) Tj ET Q q 0 0 0 rg BT 292.32 534.90 Td (e also in this c) Tj ET Q q 0 0 0 rg BT 349.11 534.90 Td (a) Tj ET Q q 0 0 0 rg BT 353.81 534.90 Td (t) Tj ET Q q 0 0 0 rg BT 357.05 534.90 Td (eg) Tj ET Q q 0 0 0 rg BT 366.67 534.90 Td (or) Tj ET Q q 0 0 0 rg BT 375.48 534.90 Td (y un) Tj ET Q q 0 0 0 rg BT 392.68 534.90 Td (til such de) Tj ET Q q 0 0 0 rg BT 433.97 534.90 Td (v) Tj ET Q q 0 0 0 rg BT 438.39 534.90 Td (elopmen) Tj ET Q q 0 0 0 rg BT 474.31 534.90 Td (t activities ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 522.90 Td (c) Tj ET Q q 0 0 0 rg BT 76.15 522.90 Td (ommence. A) Tj ET Q q 0 0 0 rg BT 127.15 522.90 Td (t tha) Tj ET Q q 0 0 0 rg BT 146.06 522.90 Td (t time, the pr) Tj ET Q q 0 0 0 rg BT 199.45 522.90 Td (operty will be r) Tj ET Q q 0 0 0 rg BT 260.72 522.90 Td (eclassified t) Tj ET Q q 0 0 0 rg BT 308.21 522.90 Td (o either Same Pr) Tj ET Q q 0 0 0 rg BT 375.44 522.90 Td (operty with incr) Tj ET Q q 0 0 0 rg BT 440.01 522.90 Td (emen) Tj ET Q q 0 0 0 rg BT 463.11 522.90 Td (t) Tj ET Q q 0 0 0 rg BT 466.34 522.90 Td (al r) Tj ET Q q 0 0 0 rg BT 479.04 522.90 Td (ede) Tj ET Q q 0 0 0 rg BT 494.19 522.90 Td (v) Tj ET Q q 0 0 0 rg BT 498.61 522.90 Td (elopmen) Tj ET Q q 0 0 0 rg BT 534.53 522.90 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 510.90 Td (and e) Tj ET Q q 0 0 0 rg BT 94.38 510.90 Td (xpansion activities or t) Tj ET Q q 0 0 0 rg BT 185.54 510.90 Td (o major r) Tj ET Q q 0 0 0 rg BT 222.63 510.90 Td (ede) Tj ET Q q 0 0 0 rg BT 237.78 510.90 Td (v) Tj ET Q q 0 0 0 rg BT 242.20 510.90 Td (elopmen) Tj ET Q q 0 0 0 rg BT 278.12 510.90 Td (t.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 72.00 492.90 Td (Same Property with incremen) Tj ET Q q 0 0 0 rg BT 191.49 492.90 Td (t) Tj ET Q q 0 0 0 rg BT 194.70 492.90 Td (al rede) Tj ET Q q 0 0 0 rg BT 222.45 492.90 Td (velopmen) Tj ET Q q 0 0 0 rg BT 261.99 492.90 Td (t and e) Tj ET Q q 0 0 0 rg BT 289.85 492.90 Td (xpansion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 326.07 492.90 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 328.33 492.90 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 335.57 492.90 Td (includes pr) Tj ET Q q 0 0 0 rg BT 379.88 492.90 Td (operties tha) Tj ET Q q 0 0 0 rg BT 428.96 492.90 Td (t ar) Tj ET Q q 0 0 0 rg BT 442.71 492.90 Td (e lar) Tj ET Q q 0 0 0 rg BT 460.38 492.90 Td (g) Tj ET Q q 0 0 0 rg BT 465.01 492.90 Td (ely s) Tj ET Q q 0 0 0 rg BT 482.86 492.90 Td (t) Tj ET Q q 0 0 0 rg BT 486.09 492.90 Td (able, including ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 480.90 Td (adjacen) Tj ET Q q 0 0 0 rg BT 103.59 480.90 Td (t par) Tj ET Q q 0 0 0 rg BT 122.59 480.90 Td (cels of land, but ar) Tj ET Q q 0 0 0 rg BT 197.45 480.90 Td (e under) Tj ET Q q 0 0 0 rg BT 228.78 480.90 Td (g) Tj ET Q q 0 0 0 rg BT 233.42 480.90 Td (oing incr) Tj ET Q q 0 0 0 rg BT 268.34 480.90 Td (emen) Tj ET Q q 0 0 0 rg BT 291.44 480.90 Td (t) Tj ET Q q 0 0 0 rg BT 294.67 480.90 Td (al r) Tj ET Q q 0 0 0 rg BT 307.37 480.90 Td (ede) Tj ET Q q 0 0 0 rg BT 322.52 480.90 Td (v) Tj ET Q q 0 0 0 rg BT 326.94 480.90 Td (elopmen) Tj ET Q q 0 0 0 rg BT 362.86 480.90 Td (t or e) Tj ET Q q 0 0 0 rg BT 384.32 480.90 Td (xpansion activities \(pads or building ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 468.90 Td (e) Tj ET Q q 0 0 0 rg BT 76.82 468.90 Td (x) Tj ET Q q 0 0 0 rg BT 81.18 468.90 Td (t) Tj ET Q q 0 0 0 rg BT 84.43 468.90 Td (ensions\) which in) Tj ET Q q 0 0 0 rg BT 154.49 468.90 Td (t) Tj ET Q q 0 0 0 rg BT 157.73 468.90 Td (ensif) Tj ET Q q 0 0 0 rg BT 177.27 468.90 Td (y the land use. Such r) Tj ET Q q 0 0 0 rg BT 263.62 468.90 Td (ede) Tj ET Q q 0 0 0 rg BT 278.78 468.90 Td (v) Tj ET Q q 0 0 0 rg BT 283.20 468.90 Td (elopmen) Tj ET Q q 0 0 0 rg BT 319.12 468.90 Td (t activities oft) Tj ET Q q 0 0 0 rg BT 374.56 468.90 Td (en include f) Tj ET Q q 0 0 0 rg BT 421.73 468.90 Td (ac) Tj ET Q q 0 0 0 rg BT 430.66 468.90 Td (ade, parking) Tj ET Q q 0 0 0 rg BT 480.88 468.90 Td (, ligh) Tj ET Q q 0 0 0 rg BT 500.10 468.90 Td (ting and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 456.90 Td (building upgr) Tj ET Q q 0 0 0 rg BT 125.36 456.90 Td (ades.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 438.90 Td (Major rede) Tj ET Q q 0 0 0 rg BT 98.96 438.90 Td (velopmen) Tj ET Q q 0 0 0 rg BT 138.49 438.90 Td (t ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 144.10 438.90 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 151.34 438.90 Td (includes pr) Tj ET Q q 0 0 0 rg BT 195.65 438.90 Td (operties in planning or under) Tj ET Q q 0 0 0 rg BT 313.71 438.90 Td (g) Tj ET Q q 0 0 0 rg BT 318.35 438.90 Td (oing multi-) Tj ET Q q 0 0 0 rg BT 362.29 438.90 Td (y) Tj ET Q q 0 0 0 rg BT 366.69 438.90 Td (ear r) Tj ET Q q 0 0 0 rg BT 385.56 438.90 Td (ede) Tj ET Q q 0 0 0 rg BT 400.71 438.90 Td (v) Tj ET Q q 0 0 0 rg BT 405.13 438.90 Td (elopmen) Tj ET Q q 0 0 0 rg BT 441.06 438.90 Td (t pr) Tj ET Q q 0 0 0 rg BT 455.25 438.90 Td (ojects with signific) Tj ET Q q 0 0 0 rg BT 529.90 438.90 Td (an) Tj ET Q q 0 0 0 rg BT 539.85 438.90 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 426.90 Td (in) Tj ET Q q 0 0 0 rg BT 61.46 426.90 Td (t) Tj ET Q q 0 0 0 rg BT 64.70 426.90 Td (ensific) Tj ET Q q 0 0 0 rg BT 90.63 426.90 Td (a) Tj ET Q q 0 0 0 rg BT 95.32 426.90 Td (tion, r) Tj ET Q q 0 0 0 rg BT 119.61 426.90 Td (ec) Tj ET Q q 0 0 0 rg BT 128.73 426.90 Td (on) Tj ET Q q 0 0 0 rg BT 139.20 426.90 Td (figur) Tj ET Q q 0 0 0 rg BT 157.78 426.90 Td (a) Tj ET Q q 0 0 0 rg BT 162.48 426.90 Td (tion and building and t) Tj ET Q q 0 0 0 rg BT 254.14 426.90 Td (enan) Tj ET Q q 0 0 0 rg BT 274.32 426.90 Td (t upgr) Tj ET Q q 0 0 0 rg BT 298.43 426.90 Td (ades.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 408.90 Td (Ground-up de) Tj ET Q q 0 0 0 rg BT 109.75 408.90 Td (velopmen) Tj ET Q q 0 0 0 rg BT 149.28 408.90 Td (t ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 154.89 408.90 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 162.13 408.90 Td (c) Tj ET Q q 0 0 0 rg BT 166.28 408.90 Td (onsis) Tj ET Q q 0 0 0 rg BT 186.81 408.90 Td (ts of ne) Tj ET Q q 0 0 0 rg BT 217.10 408.90 Td (w c) Tj ET Q q 0 0 0 rg BT 230.66 408.90 Td (ons) Tj ET Q q 0 0 0 rg BT 244.98 408.90 Td (truction, either on a v) Tj ET Q q 0 0 0 rg BT 333.03 408.90 Td (ac) Tj ET Q q 0 0 0 rg BT 341.97 408.90 Td (an) Tj ET Q q 0 0 0 rg BT 351.92 408.90 Td (t land par) Tj ET Q q 0 0 0 rg BT 390.77 408.90 Td (cel typic) Tj ET Q q 0 0 0 rg BT 424.10 408.90 Td (ally situa) Tj ET Q q 0 0 0 rg BT 459.77 408.90 Td (t) Tj ET Q q 0 0 0 rg BT 463.01 408.90 Td (ed in an urban ar) Tj ET Q q 0 0 0 rg BT 532.06 408.90 Td (ea ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 396.90 Td (or on an urban land sit) Tj ET Q q 0 0 0 rg BT 145.71 396.90 Td (e with c) Tj ET Q q 0 0 0 rg BT 177.40 396.90 Td (on) Tj ET Q q 0 0 0 rg BT 187.76 396.90 Td (v) Tj ET Q q 0 0 0 rg BT 192.18 396.90 Td (er) Tj ET Q q 0 0 0 rg BT 200.47 396.90 Td (sion of an e) Tj ET Q q 0 0 0 rg BT 247.18 396.90 Td (xis) Tj ET Q q 0 0 0 rg BT 257.61 396.90 Td (ting v) Tj ET Q q 0 0 0 rg BT 279.84 396.90 Td (ac) Tj ET Q q 0 0 0 rg BT 288.78 396.90 Td (an) Tj ET Q q 0 0 0 rg BT 298.73 396.90 Td (t building t) Tj ET Q q 0 0 0 rg BT 342.46 396.90 Td (o r) Tj ET Q q 0 0 0 rg BT 353.35 396.90 Td (e) Tj ET Q q 0 0 0 rg BT 358.27 396.90 Td (t) Tj ET Q q 0 0 0 rg BT 361.50 396.90 Td (ail use.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 378.90 Td (Ac) Tj ET Q q 0 0 0 rg BT 63.88 378.90 Td (quisitions and dispositions) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 170.00 378.90 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 172.26 378.90 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 179.50 378.90 Td (includes pr) Tj ET Q q 0 0 0 rg BT 223.81 378.90 Td (operties and pr) Tj ET Q q 0 0 0 rg BT 285.73 378.90 Td (operties in close pr) Tj ET Q q 0 0 0 rg BT 362.84 378.90 Td (o) Tj ET Q q 0 0 0 rg BT 367.92 378.90 Td (ximity t) Tj ET Q q 0 0 0 rg BT 398.22 378.90 Td (o the Compan) Tj ET Q q 0 0 0 rg BT 455.30 378.90 Td (y) Tj ET Q q 0 0 0 rg BT 460.13 378.90 Td () Tj ET Q q 0 0 0 rg BT 462.01 378.90 Td (s e) Tj ET Q q 0 0 0 rg BT 473.01 378.90 Td (xis) Tj ET Q q 0 0 0 rg BT 483.43 378.90 Td (ting pr) Tj ET Q q 0 0 0 rg BT 509.88 378.90 Td (operties ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 366.90 Td (included in other c) Tj ET Q q 0 0 0 rg BT 129.63 366.90 Td (a) Tj ET Q q 0 0 0 rg BT 134.32 366.90 Td (t) Tj ET Q q 0 0 0 rg BT 137.56 366.90 Td (eg) Tj ET Q q 0 0 0 rg BT 147.18 366.90 Td (ories tha) Tj ET Q q 0 0 0 rg BT 182.68 366.90 Td (t w) Tj ET Q q 0 0 0 rg BT 195.35 366.90 Td (er) Tj ET Q q 0 0 0 rg BT 203.68 366.90 Td (e acquir) Tj ET Q q 0 0 0 rg BT 236.09 366.90 Td (ed during the period. Dispositions include in) Tj ET Q q 0 0 0 rg BT 415.00 366.90 Td (f) Tj ET Q q 0 0 0 rg BT 417.84 366.90 Td (orma) Tj ET Q q 0 0 0 rg BT 439.29 366.90 Td (tion f) Tj ET Q q 0 0 0 rg BT 460.56 366.90 Td (or pr) Tj ET Q q 0 0 0 rg BT 480.16 366.90 Td (operties ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 354.90 Td (disposed of in the period.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 336.90 Td (In) Tj ET Q q 0 0 0 rg BT 61.49 336.90 Td (ves) Tj ET Q q 0 0 0 rg BT 74.50 336.90 Td (tmen) Tj ET Q q 0 0 0 rg BT 95.58 336.90 Td (t properties classified as held f) Tj ET Q q 0 0 0 rg BT 217.84 336.90 Td (or sale) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 244.77 336.90 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 254.27 336.90 Td (r) Tj ET Q q 0 0 0 rg BT 257.62 336.90 Td (epr) Tj ET Q q 0 0 0 rg BT 271.21 336.90 Td (esen) Tj ET Q q 0 0 0 rg BT 290.23 336.90 Td (ts those pr) Tj ET Q q 0 0 0 rg BT 333.36 336.90 Td (operties classified on the c) Tj ET Q q 0 0 0 rg BT 441.18 336.90 Td (onsolida) Tj ET Q q 0 0 0 rg BT 475.43 336.90 Td (t) Tj ET Q q 0 0 0 rg BT 478.67 336.90 Td (ed balance ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 324.90 Td (shee) Tj ET Q q 0 0 0 rg BT 73.06 324.90 Td (ts which mee) Tj ET Q q 0 0 0 rg BT 126.91 324.90 Td (t the crit) Tj ET Q q 0 0 0 rg BT 161.61 324.90 Td (eria as described in the Business and Oper) Tj ET Q q 0 0 0 rg BT 337.01 324.90 Td (a) Tj ET Q q 0 0 0 rg BT 341.71 324.90 Td (tions R) Tj ET Q q 0 0 0 rg BT 369.31 324.90 Td (e) Tj ET Q q 0 0 0 rg BT 374.23 324.90 Td (vie) Tj ET Q q 0 0 0 rg BT 385.97 324.90 Td (w In) Tj ET Q q 0 0 0 rg BT 410.23 324.90 Td (v) Tj ET Q q 0 0 0 rg BT 414.65 324.90 Td (es) Tj ET Q q 0 0 0 rg BT 423.42 324.90 Td (tmen) Tj ET Q q 0 0 0 rg BT 444.90 324.90 Td (t Pr) Tj ET Q q 0 0 0 rg BT 459.00 324.90 Td (operties Classified as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 312.90 Td (Held F) Tj ET Q q 0 0 0 rg BT 79.47 312.90 Td (or Sale section of this MD&A) Tj ET Q q 0 0 0 rg BT 200.17 312.90 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 294.90 Td (In) Tj ET Q q 0 0 0 rg BT 61.49 294.90 Td (ves) Tj ET Q q 0 0 0 rg BT 74.50 294.90 Td (tmen) Tj ET Q q 0 0 0 rg BT 95.58 294.90 Td (t properties ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 144.81 294.90 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 152.05 294.90 Td (de) Tj ET Q q 0 0 0 rg BT 161.90 294.90 Td (velopmen) Tj ET Q q 0 0 0 rg BT 201.43 294.90 Td (t land ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 227.02 294.90 Td ( c) Tj ET Q q 0 0 0 rg BT 238.41 294.90 Td (omprises land sit) Tj ET Q q 0 0 0 rg BT 307.07 294.90 Td (es wher) Tj ET Q q 0 0 0 rg BT 338.95 294.90 Td (e ther) Tj ET Q q 0 0 0 rg BT 363.12 294.90 Td (e ar) Tj ET Q q 0 0 0 rg BT 378.50 294.90 Td (e no de) Tj ET Q q 0 0 0 rg BT 408.70 294.90 Td (v) Tj ET Q q 0 0 0 rg BT 413.12 294.90 Td (elopmen) Tj ET Q q 0 0 0 rg BT 449.04 294.90 Td (t activities under) Tj ET Q q 0 0 0 rg BT 517.20 294.90 Td (w) Tj ET Q q 0 0 0 rg BT 524.23 294.90 Td (a) Tj ET Q q 0 0 0 rg BT 528.84 294.90 Td (y) Tj ET Q q 0 0 0 rg BT 532.65 294.90 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 282.90 Td (e) Tj ET Q q 0 0 0 rg BT 58.82 282.90 Td (x) Tj ET Q q 0 0 0 rg BT 62.93 282.90 Td (cep) Tj ET Q q 0 0 0 rg BT 77.34 282.90 Td (t f) Tj ET Q q 0 0 0 rg BT 85.80 282.90 Td (or those in the planning s) Tj ET Q q 0 0 0 rg BT 188.65 282.90 Td (t) Tj ET Q q 0 0 0 rg BT 191.88 282.90 Td (ag) Tj ET Q q 0 0 0 rg BT 201.29 282.90 Td (e.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 264.90 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 264.90 Td (y has applied the abo) Tj ET Q q 0 0 0 rg BT 191.56 264.90 Td (v) Tj ET Q q 0 0 0 rg BT 195.98 264.90 Td (e pr) Tj ET Q q 0 0 0 rg BT 211.80 264.90 Td (operty c) Tj ET Q q 0 0 0 rg BT 245.07 264.90 Td (a) Tj ET Q q 0 0 0 rg BT 249.77 264.90 Td (t) Tj ET Q q 0 0 0 rg BT 253.01 264.90 Td (eg) Tj ET Q q 0 0 0 rg BT 262.62 264.90 Td (oriz) Tj ET Q q 0 0 0 rg BT 277.46 264.90 Td (a) Tj ET Q q 0 0 0 rg BT 282.16 264.90 Td (tion t) Tj ET Q q 0 0 0 rg BT 303.84 264.90 Td (o the f) Tj ET Q q 0 0 0 rg BT 330.07 264.90 Td (air v) Tj ET Q q 0 0 0 rg BT 347.28 264.90 Td (alue, c) Tj ET Q q 0 0 0 rg BT 373.49 264.90 Td (apit) Tj ET Q q 0 0 0 rg BT 389.06 264.90 Td (al e) Tj ET Q q 0 0 0 rg BT 403.23 264.90 Td (xpenditur) Tj ET Q q 0 0 0 rg BT 442.55 264.90 Td (es as w) Tj ET Q q 0 0 0 rg BT 471.72 264.90 Td (ell as leasing and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 252.90 Td (occupancy activity on its shopping cen) Tj ET Q q 0 0 0 rg BT 209.34 252.90 Td (tr) Tj ET Q q 0 0 0 rg BT 216.05 252.90 Td (e portf) Tj ET Q q 0 0 0 rg BT 243.49 252.90 Td (olio) Tj ET Q q 0 0 0 rg BT 258.44 252.90 Td (, and t) Tj ET Q q 0 0 0 rg BT 284.01 252.90 Td (o its Same Pr) Tj ET Q q 0 0 0 rg BT 336.46 252.90 Td (operty NOI analy) Tj ET Q q 0 0 0 rg BT 405.01 252.90 Td (sis t) Tj ET Q q 0 0 0 rg BT 420.64 252.90 Td (o further assis) Tj ET Q q 0 0 0 rg BT 477.99 252.90 Td (t in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 240.90 Td (under) Tj ET Q q 0 0 0 rg BT 78.05 240.90 Td (s) Tj ET Q q 0 0 0 rg BT 81.85 240.90 Td (t) Tj ET Q q 0 0 0 rg BT 85.08 240.90 Td (anding the Compan) Tj ET Q q 0 0 0 rg BT 164.44 240.90 Td (y) Tj ET Q q 0 0 0 rg BT 169.27 240.90 Td () Tj ET Q q 0 0 0 rg BT 171.15 240.90 Td (s r) Tj ET Q q 0 0 0 rg BT 180.68 240.90 Td (eal es) Tj ET Q q 0 0 0 rg BT 203.78 240.90 Td (t) Tj ET Q q 0 0 0 rg BT 207.00 240.90 Td (a) Tj ET Q q 0 0 0 rg BT 211.70 240.90 Td (t) Tj ET Q q 0 0 0 rg BT 214.94 240.90 Td (e activities and its oper) Tj ET Q q 0 0 0 rg BT 308.60 240.90 Td (a) Tj ET Q q 0 0 0 rg BT 313.30 240.90 Td (ting and financial perf) Tj ET Q q 0 0 0 rg BT 401.80 240.90 Td (ormance.) Tj ET Q BT /F6 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 218.70 Td (R) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 60.03 218.70 Td (ec) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 69.86 218.70 Td (onciliation of Condensed Consolidat) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 232.79 218.70 Td (ed Balanc) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 277.22 218.70 Td (e Shee) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 306.76 218.70 Td (t t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 316.75 218.70 Td (o the Compan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 380.13 218.70 Td (y's Proportionat) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 453.34 218.70 Td (e In) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 469.86 218.70 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 473.58 218.70 Td (eres) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 492.46 218.70 Td (t) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 200.70 Td (Pr) Tj ET Q q 0 0 0 rg BT 62.49 200.70 Td (oportiona) Tj ET Q q 0 0 0 rg BT 102.65 200.70 Td (t) Tj ET Q q 0 0 0 rg BT 105.89 200.70 Td (e in) Tj ET Q q 0 0 0 rg BT 120.58 200.70 Td (t) Tj ET Q q 0 0 0 rg BT 123.82 200.70 Td (er) Tj ET Q q 0 0 0 rg BT 132.15 200.70 Td (es) Tj ET Q q 0 0 0 rg BT 140.93 200.70 Td (t is not an IFR) Tj ET Q q 0 0 0 rg BT 195.86 200.70 Td (S measur) Tj ET Q q 0 0 0 rg BT 232.99 200.70 Td (e, but is de) Tj ET Q q 0 0 0 rg BT 277.45 200.70 Td (fined b) Tj ET Q q 0 0 0 rg BT 305.74 200.70 Td (y Manag) Tj ET Q q 0 0 0 rg BT 340.54 200.70 Td (emen) Tj ET Q q 0 0 0 rg BT 363.64 200.70 Td (t as the Compan) Tj ET Q q 0 0 0 rg BT 429.76 200.70 Td (y) Tj ET Q q 0 0 0 rg BT 434.59 200.70 Td () Tj ET Q q 0 0 0 rg BT 436.47 200.70 Td (s pr) Tj ET Q q 0 0 0 rg BT 451.22 200.70 Td (oportiona) Tj ET Q q 0 0 0 rg BT 491.38 200.70 Td (t) Tj ET Q q 0 0 0 rg BT 494.62 200.70 Td (e shar) Tj ET Q q 0 0 0 rg BT 519.17 200.70 Td (e of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 188.70 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 188.70 Td (e) Tj ET Q q 0 0 0 rg BT 62.28 188.70 Td (v) Tj ET Q q 0 0 0 rg BT 66.70 188.70 Td (enues, e) Tj ET Q q 0 0 0 rg BT 100.65 188.70 Td (xpenses, asse) Tj ET Q q 0 0 0 rg BT 155.55 188.70 Td (ts and liabilities in all of its r) Tj ET Q q 0 0 0 rg BT 268.15 188.70 Td (eal es) Tj ET Q q 0 0 0 rg BT 291.25 188.70 Td (t) Tj ET Q q 0 0 0 rg BT 294.47 188.70 Td (a) Tj ET Q q 0 0 0 rg BT 299.17 188.70 Td (t) Tj ET Q q 0 0 0 rg BT 302.41 188.70 Td (e in) Tj ET Q q 0 0 0 rg BT 317.03 188.70 Td (v) Tj ET Q q 0 0 0 rg BT 321.45 188.70 Td (es) Tj ET Q q 0 0 0 rg BT 330.23 188.70 Td (tmen) Tj ET Q q 0 0 0 rg BT 351.70 188.70 Td (ts. This pr) Tj ET Q q 0 0 0 rg BT 390.95 188.70 Td (esen) Tj ET Q q 0 0 0 rg BT 409.97 188.70 Td (t) Tj ET Q q 0 0 0 rg BT 413.20 188.70 Td (a) Tj ET Q q 0 0 0 rg BT 417.90 188.70 Td (tion is r) Tj ET Q q 0 0 0 rg BT 448.15 188.70 Td (e) Tj ET Q q 0 0 0 rg BT 453.04 188.70 Td (flect) Tj ET Q q 0 0 0 rg BT 470.83 188.70 Td (ed thr) Tj ET Q q 0 0 0 rg BT 495.25 188.70 Td (oughout this ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 176.70 Td (MD&A t) Tj ET Q q 0 0 0 rg BT 86.82 176.70 Td (o indic) Tj ET Q q 0 0 0 rg BT 113.60 176.70 Td (a) Tj ET Q q 0 0 0 rg BT 118.30 176.70 Td (t) Tj ET Q q 0 0 0 rg BT 121.54 176.70 Td (e the Compan) Tj ET Q q 0 0 0 rg BT 178.32 176.70 Td (y) Tj ET Q q 0 0 0 rg BT 183.15 176.70 Td () Tj ET Q q 0 0 0 rg BT 185.04 176.70 Td (s equity acc) Tj ET Q q 0 0 0 rg BT 232.29 176.70 Td (oun) Tj ET Q q 0 0 0 rg BT 247.97 176.70 Td (t) Tj ET Q q 0 0 0 rg BT 251.22 176.70 Td (ed join) Tj ET Q q 0 0 0 rg BT 278.83 176.70 Td (t v) Tj ET Q q 0 0 0 rg BT 288.86 176.70 Td (en) Tj ET Q q 0 0 0 rg BT 299.00 176.70 Td (tur) Tj ET Q q 0 0 0 rg BT 310.95 176.70 Td (es and the r) Tj ET Q q 0 0 0 rg BT 358.85 176.70 Td (ela) Tj ET Q q 0 0 0 rg BT 370.82 176.70 Td (t) Tj ET Q q 0 0 0 rg BT 374.06 176.70 Td (ed shar) Tj ET Q q 0 0 0 rg BT 403.86 176.70 Td (e of r) Tj ET Q q 0 0 0 rg BT 425.04 176.70 Td (e) Tj ET Q q 0 0 0 rg BT 429.97 176.70 Td (v) Tj ET Q q 0 0 0 rg BT 434.39 176.70 Td (enues, e) Tj ET Q q 0 0 0 rg BT 468.34 176.70 Td (xpenses, asse) Tj ET Q q 0 0 0 rg BT 523.24 176.70 Td (ts and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 164.70 Td (liabilities on a pr) Tj ET Q q 0 0 0 rg BT 120.73 164.70 Td (oportiona) Tj ET Q q 0 0 0 rg BT 160.88 164.70 Td (t) Tj ET Q q 0 0 0 rg BT 164.13 164.70 Td (ely c) Tj ET Q q 0 0 0 rg BT 182.33 164.70 Td (onsolida) Tj ET Q q 0 0 0 rg BT 216.58 164.70 Td (t) Tj ET Q q 0 0 0 rg BT 219.83 164.70 Td (ed basis a) Tj ET Q q 0 0 0 rg BT 259.43 164.70 Td (t the Compan) Tj ET Q q 0 0 0 rg BT 314.59 164.70 Td (y) Tj ET Q q 0 0 0 rg BT 319.42 164.70 Td () Tj ET Q q 0 0 0 rg BT 321.30 164.70 Td (s o) Tj ET Q q 0 0 0 rg BT 332.71 164.70 Td (wner) Tj ET Q q 0 0 0 rg BT 353.40 164.70 Td (ship in) Tj ET Q q 0 0 0 rg BT 379.83 164.70 Td (t) Tj ET Q q 0 0 0 rg BT 383.08 164.70 Td (er) Tj ET Q q 0 0 0 rg BT 391.41 164.70 Td (es) Tj ET Q q 0 0 0 rg BT 400.18 164.70 Td (t in the join) Tj ET Q q 0 0 0 rg BT 446.56 164.70 Td (t v) Tj ET Q q 0 0 0 rg BT 456.59 164.70 Td (en) Tj ET Q q 0 0 0 rg BT 466.73 164.70 Td (tur) Tj ET Q q 0 0 0 rg BT 478.69 164.70 Td (es. ) Tj ET Q endstream endobj 33 0 obj <> endobj 34 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (15) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 694.50 Td (The f) Tj ET Q q 0 0 0 rg BT 74.21 694.50 Td (ollo) Tj ET Q q 0 0 0 rg BT 89.30 694.50 Td (wing t) Tj ET Q q 0 0 0 rg BT 114.20 694.50 Td (able pr) Tj ET Q q 0 0 0 rg BT 142.35 694.50 Td (o) Tj ET Q q 0 0 0 rg BT 147.58 694.50 Td (vides a r) Tj ET Q q 0 0 0 rg BT 181.20 694.50 Td (ec) Tj ET Q q 0 0 0 rg BT 190.32 694.50 Td (oncilia) Tj ET Q q 0 0 0 rg BT 216.66 694.50 Td (tion of the Compan) Tj ET Q q 0 0 0 rg BT 295.22 694.50 Td (y) Tj ET Q q 0 0 0 rg BT 300.05 694.50 Td () Tj ET Q q 0 0 0 rg BT 301.93 694.50 Td (s c) Tj ET Q q 0 0 0 rg BT 312.25 694.50 Td (ondensed c) Tj ET Q q 0 0 0 rg BT 358.81 694.50 Td (onsolida) Tj ET Q q 0 0 0 rg BT 393.06 694.50 Td (t) Tj ET Q q 0 0 0 rg BT 396.30 694.50 Td (ed balance shee) Tj ET Q q 0 0 0 rg BT 461.71 694.50 Td (t, as pr) Tj ET Q q 0 0 0 rg BT 489.38 694.50 Td (esen) Tj ET Q q 0 0 0 rg BT 508.40 694.50 Td (t) Tj ET Q q 0 0 0 rg BT 511.65 694.50 Td (ed in its ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 682.50 Td (unaudit) Tj ET Q q 0 0 0 rg BT 85.34 682.50 Td (ed in) Tj ET Q q 0 0 0 rg BT 105.29 682.50 Td (t) Tj ET Q q 0 0 0 rg BT 108.53 682.50 Td (erim c) Tj ET Q q 0 0 0 rg BT 133.68 682.50 Td (onsolida) Tj ET Q q 0 0 0 rg BT 167.94 682.50 Td (t) Tj ET Q q 0 0 0 rg BT 171.18 682.50 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 223.98 682.50 Td (t) Tj ET Q q 0 0 0 rg BT 227.21 682.50 Td (a) Tj ET Q q 0 0 0 rg BT 231.91 682.50 Td (t) Tj ET Q q 0 0 0 rg BT 235.15 682.50 Td (emen) Tj ET Q q 0 0 0 rg BT 258.25 682.50 Td (ts t) Tj ET Q q 0 0 0 rg BT 271.02 682.50 Td (o the Compan) Tj ET Q q 0 0 0 rg BT 328.10 682.50 Td (y's pr) Tj ET Q q 0 0 0 rg BT 349.59 682.50 Td (oportiona) Tj ET Q q 0 0 0 rg BT 389.74 682.50 Td (t) Tj ET Q q 0 0 0 rg BT 392.98 682.50 Td (e in) Tj ET Q q 0 0 0 rg BT 407.68 682.50 Td (t) Tj ET Q q 0 0 0 rg BT 410.92 682.50 Td (er) Tj ET Q q 0 0 0 rg BT 419.25 682.50 Td (es) Tj ET Q q 0 0 0 rg BT 428.02 682.50 Td (t.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 53.5 672 m 253.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 53.5 658 m 253.5 658 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 672 m 314.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 253.5 658 m 314.5 658 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 672 m 330.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314.5 658 m 330.5 658 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 672 m 392.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 658 m 392.5 658 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 672 m 408.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 392.5 658 m 408.5 658 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 672 m 470.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 658 m 470.5 658 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 672 m 486.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 658 m 486.5 658 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 672 m 548.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 658 m 548.5 658 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 53.5 607 m 253.5 607 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 253.5 607 m 314.5 607 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314.5 607 m 330.5 607 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 607 m 392.5 607 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 392.5 607 m 408.5 607 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 607 m 470.5 607 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 607 m 486.5 607 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 607 m 548.5 607 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 53.5 529 m 253.5 529 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 53.5 516 m 253.5 516 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 253.5 529 m 314.5 529 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 516 m 314.5 516 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314.5 529 m 330.5 529 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 516 m 330.5 516 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 529 m 392.5 529 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 516 m 392.5 516 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 392.5 529 m 408.5 529 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 516 m 408.5 516 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 529 m 470.5 529 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 516 m 470.5 516 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 529 m 486.5 529 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 516 m 486.5 516 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 529 m 548.5 529 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 516 m 548.5 516 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 53.5 477 m 253.5 477 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 253.5 477 m 314.5 477 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314.5 477 m 330.5 477 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 477 m 392.5 477 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 477 m 486.5 477 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 477 m 548.5 477 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 53.5 477 m 253.5 477 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 53.5 464 m 253.5 464 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 253.5 477 m 314.5 477 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 253.5 464 m 314.5 464 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314.5 477 m 330.5 477 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314.5 464 m 330.5 464 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 477 m 392.5 477 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 464 m 392.5 464 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 392.5 477 m 408.5 477 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 392.5 464 m 408.5 464 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 477 m 470.5 477 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 464 m 470.5 464 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 477 m 486.5 477 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 464 m 486.5 464 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 477 m 548.5 477 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 464 m 548.5 464 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 392.5 425 m 408.5 425 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 425 m 470.5 425 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 53.5 425 m 253.5 425 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 53.5 412 m 253.5 412 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 253.5 425 m 314.5 425 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 253.5 412 m 314.5 412 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314.5 425 m 330.5 425 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314.5 412 m 330.5 412 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 425 m 392.5 425 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 412 m 392.5 412 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 392.5 425 m 408.5 425 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 392.5 412 m 408.5 412 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 425 m 470.5 425 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 412 m 470.5 412 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 425 m 486.5 425 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 412 m 486.5 412 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 425 m 548.5 425 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 412 m 548.5 412 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 53.5 412 m 253.5 412 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 53.5 397 m 253.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 253.5 412 m 314.5 412 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 397 m 314.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314.5 412 m 330.5 412 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 397 m 330.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 412 m 392.5 412 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 397 m 392.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 392.5 412 m 408.5 412 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 397 m 408.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 412 m 470.5 412 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 397 m 470.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 412 m 486.5 412 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 397 m 486.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 412 m 548.5 412 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 397 m 548.5 397 l s BT /F4 9.00 Tf ET q 0 0 0 rg BT 56.00 662.75 Td (As at) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 409.25 662.75 Td (March 31, 2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.45 662.75 Td (December 31, 2014) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 56.00 611.75 Td (\(thousands of dollars\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 262.15 620.75 Td (Consolidated) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.45 611.75 Td (Balance Sheet) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 341.65 647.75 Td (Adjustments) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.70 638.75 Td (for Equity) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 349.10 629.75 Td (Method to) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 336.50 620.75 Td (Proportionate) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 360.05 611.75 Td (Interest) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 414.50 620.75 Td (Proportionate) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 438.05 611.75 Td (Interest) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 493.80 620.75 Td (Proportionate) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.75 611.75 Td (Interest) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 56.00 597.75 Td (ASSETS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 62.00 584.75 Td (Investment properties shopping centres) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 256.00 584.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 274.55 584.75 Td (7,479,370) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 333.00 584.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 364.00 584.75 Td (98,081) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 411.00 584.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.55 584.75 Td (7,577,451) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 489.00 584.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.80 584.75 Td (7,364,745) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 62.00 571.75 Td (Investment properties development land) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 286.00 571.75 Td (26,374) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 364.00 571.75 Td (47,136) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 442.00 571.75 Td (73,510) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 520.15 571.75 Td (53,776) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 62.00 558.75 Td (Investment in joint ventures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 281.45 558.75 Td (176,757) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 356.65 558.75 Td (\(176,757) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 389.15 558.75 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.00 558.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.10 558.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 62.00 545.75 Td (Investment properties classified as held for sale) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 286.00 545.75 Td (75,596) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 381.00 545.75 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 442.00 545.75 Td (75,596) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 515.60 545.75 Td (205,133) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 62.00 532.75 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 281.45 532.75 Td (264,413) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 368.55 532.75 Td (6,773) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 437.45 532.75 Td (271,186) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 515.60 532.75 Td (267,778) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 519.75 Td (Total assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 256.00 519.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 274.55 519.75 Td (8,022,510) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 333.00 519.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 361.20 519.75 Td (\(24,767) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 389.15 519.75 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 411.00 519.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.55 519.75 Td (7,997,743) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 489.00 519.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.80 519.75 Td (7,891,432) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 56.00 506.75 Td (LIABILITIES) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 62.00 493.75 Td (Mortgages and credit facilities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 256.00 493.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 274.55 493.75 Td (1,093,808) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 333.00 493.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 364.00 493.75 Td (13,051) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 411.00 493.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.55 493.75 Td (1,106,859) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 489.00 493.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.80 493.75 Td (1,183,823) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 62.00 480.75 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 274.55 480.75 Td (3,325,293) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 372.65 480.75 Td (\(553) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 389.15 480.75 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.55 480.75 Td (3,324,740) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.80 480.75 Td (3,237,338) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 467.75 Td (Total liabilities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 274.55 467.75 Td (4,419,101) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 364.00 467.75 Td (12,498) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.55 467.75 Td (4,431,599) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.80 467.75 Td (4,421,161) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 56.00 454.75 Td (EQUITY) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 65.00 441.75 Td (Shareholders' equity) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 274.55 441.75 Td (3,566,144) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 381.00 441.75 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.55 441.75 Td (3,566,144) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.80 441.75 Td (3,470,271) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 65.00 428.75 Td (Non-controlling interest) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 286.00 428.75 Td (37,265) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 361.20 428.75 Td (\(37,265) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 389.15 428.75 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.00 428.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.10 428.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 62.00 415.75 Td (Total equity) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 274.55 415.75 Td (3,603,409) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 361.20 415.75 Td (\(37,265) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 389.15 415.75 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.55 415.75 Td (3,566,144) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.80 415.75 Td (3,470,271) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 62.00 401.75 Td (Total liabilities and equity) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 256.00 401.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 274.55 401.75 Td (8,022,510) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 333.00 401.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 361.20 401.75 Td (\(24,767) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 389.15 401.75 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 411.00 401.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.55 401.75 Td (7,997,743) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 489.00 401.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.80 401.75 Td (7,891,432) Tj ET Q BT /F1 10.00 Tf ET BT /F6 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 375.30 Td (P) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 59.68 375.30 Td (ortf) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 76.56 375.30 Td (olio Over) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 117.94 375.30 Td (vie) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 131.12 375.30 Td (w) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 360.30 Td (As a) Tj ET Q q 0 0 0 rg BT 70.66 360.30 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 76.27 360.30 Td (Mar) Tj ET Q q 0 0 0 rg BT 92.95 360.30 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 139.85 360.30 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 194.16 360.30 Td (y had in) Tj ET Q q 0 0 0 rg BT 225.96 360.30 Td (t) Tj ET Q q 0 0 0 rg BT 229.20 360.30 Td (er) Tj ET Q q 0 0 0 rg BT 237.53 360.30 Td (es) Tj ET Q q 0 0 0 rg BT 246.30 360.30 Td (ts in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 265.64 360.30 Td (157) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 280.84 360.30 Td ( in) Tj ET Q q 0 0 0 rg BT 290.48 360.30 Td (v) Tj ET Q q 0 0 0 rg BT 294.90 360.30 Td (es) Tj ET Q q 0 0 0 rg BT 303.68 360.30 Td (tmen) Tj ET Q q 0 0 0 rg BT 325.15 360.30 Td (t pr) Tj ET Q q 0 0 0 rg BT 339.34 360.30 Td (operties shopping cen) Tj ET Q q 0 0 0 rg BT 436.19 360.30 Td (tr) Tj ET Q q 0 0 0 rg BT 442.90 360.30 Td (es, tha) Tj ET Q q 0 0 0 rg BT 469.84 360.30 Td (t w) Tj ET Q q 0 0 0 rg BT 482.51 360.30 Td (er) Tj ET Q q 0 0 0 rg BT 490.84 360.30 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 498.08 360.30 Td (95.6%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 522.96 360.30 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 348.30 Td (occupied with a t) Tj ET Q q 0 0 0 rg BT 123.63 348.30 Td (ot) Tj ET Q q 0 0 0 rg BT 132.13 348.30 Td (al GLA of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 170.63 348.30 Td (24.2 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 218.31 348.30 Td ( squar) Tj ET Q q 0 0 0 rg BT 243.14 348.30 Td (e f) Tj ET Q q 0 0 0 rg BT 253.17 348.30 Td (ee) Tj ET Q q 0 0 0 rg BT 263.07 348.30 Td (t. This c) Tj ET Q q 0 0 0 rg BT 293.95 348.30 Td (ompar) Tj ET Q q 0 0 0 rg BT 320.61 348.30 Td (es t) Tj ET Q q 0 0 0 rg BT 335.01 348.30 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 342.54 348.30 Td (158) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 357.75 348.30 Td ( in) Tj ET Q q 0 0 0 rg BT 367.39 348.30 Td (v) Tj ET Q q 0 0 0 rg BT 371.81 348.30 Td (es) Tj ET Q q 0 0 0 rg BT 380.58 348.30 Td (tmen) Tj ET Q q 0 0 0 rg BT 402.06 348.30 Td (t pr) Tj ET Q q 0 0 0 rg BT 416.25 348.30 Td (operties shopping cen) Tj ET Q q 0 0 0 rg BT 513.10 348.30 Td (tr) Tj ET Q q 0 0 0 rg BT 519.80 348.30 Td (es ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 336.30 Td (which w) Tj ET Q q 0 0 0 rg BT 87.50 336.30 Td (er) Tj ET Q q 0 0 0 rg BT 95.83 336.30 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 103.07 336.30 Td (96.0%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 127.95 336.30 Td ( occupied with a t) Tj ET Q q 0 0 0 rg BT 199.84 336.30 Td (ot) Tj ET Q q 0 0 0 rg BT 208.34 336.30 Td (al GLA of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 246.83 336.30 Td (24.3 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 294.52 336.30 Td ( squar) Tj ET Q q 0 0 0 rg BT 319.34 336.30 Td (e f) Tj ET Q q 0 0 0 rg BT 329.38 336.30 Td (ee) Tj ET Q q 0 0 0 rg BT 339.28 336.30 Td (t as a) Tj ET Q q 0 0 0 rg BT 360.55 336.30 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 366.16 336.30 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 445.62 336.30 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 465.44 336.30 Td (164) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 480.65 336.30 Td ( in) Tj ET Q q 0 0 0 rg BT 490.29 336.30 Td (v) Tj ET Q q 0 0 0 rg BT 494.71 336.30 Td (es) Tj ET Q q 0 0 0 rg BT 503.48 336.30 Td (tmen) Tj ET Q q 0 0 0 rg BT 524.96 336.30 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 324.30 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 324.30 Td (operties shopping cen) Tj ET Q q 0 0 0 rg BT 159.43 324.30 Td (tr) Tj ET Q q 0 0 0 rg BT 166.13 324.30 Td (es which w) Tj ET Q q 0 0 0 rg BT 210.78 324.30 Td (er) Tj ET Q q 0 0 0 rg BT 219.11 324.30 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 226.35 324.30 Td (95.3%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 251.23 324.30 Td ( occupied with a t) Tj ET Q q 0 0 0 rg BT 323.12 324.30 Td (ot) Tj ET Q q 0 0 0 rg BT 331.62 324.30 Td (al GLA of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.11 324.30 Td (24.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 417.80 324.30 Td ( squar) Tj ET Q q 0 0 0 rg BT 442.62 324.30 Td (e f) Tj ET Q q 0 0 0 rg BT 452.66 324.30 Td (ee) Tj ET Q q 0 0 0 rg BT 462.56 324.30 Td (t a) Tj ET Q q 0 0 0 rg BT 472.87 324.30 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 478.48 324.30 Td (Mar) Tj ET Q q 0 0 0 rg BT 495.16 324.30 Td (ch31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 542.07 324.30 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 312.30 Td (The ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 71.36 312.30 Td (287,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 104.27 312.30 Td ( squar) Tj ET Q q 0 0 0 rg BT 129.09 312.30 Td (e f) Tj ET Q q 0 0 0 rg BT 139.13 312.30 Td (ee) Tj ET Q q 0 0 0 rg BT 149.03 312.30 Td (t decline in GLA since ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 237.47 312.30 Td (Mar) Tj ET Q q 0 0 0 rg BT 254.15 312.30 Td (ch31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 301.06 312.30 Td ( is primarily a r) Tj ET Q q 0 0 0 rg BT 360.87 312.30 Td (esult of dispositions. The a) Tj ET Q q 0 0 0 rg BT 468.55 312.30 Td (v) Tj ET Q q 0 0 0 rg BT 472.97 312.30 Td (er) Tj ET Q q 0 0 0 rg BT 481.23 312.30 Td (ag) Tj ET Q q 0 0 0 rg BT 490.64 312.30 Td (e siz) Tj ET Q q 0 0 0 rg BT 507.81 312.30 Td (e of the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 300.30 Td (shopping cen) Tj ET Q q 0 0 0 rg BT 107.83 300.30 Td (tr) Tj ET Q q 0 0 0 rg BT 114.53 300.30 Td (es is appr) Tj ET Q q 0 0 0 rg BT 152.77 300.30 Td (o) Tj ET Q q 0 0 0 rg BT 157.85 300.30 Td (xima) Tj ET Q q 0 0 0 rg BT 177.16 300.30 Td (t) Tj ET Q q 0 0 0 rg BT 180.40 300.30 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 194.46 300.30 Td (154,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 227.36 300.30 Td ( squar) Tj ET Q q 0 0 0 rg BT 252.19 300.30 Td (e f) Tj ET Q q 0 0 0 rg BT 262.23 300.30 Td (ee) Tj ET Q q 0 0 0 rg BT 272.13 300.30 Td (t, with siz) Tj ET Q q 0 0 0 rg BT 310.47 300.30 Td (es r) Tj ET Q q 0 0 0 rg BT 324.90 300.30 Td (anging fr) Tj ET Q q 0 0 0 rg BT 360.54 300.30 Td (om appr) Tj ET Q q 0 0 0 rg BT 394.69 300.30 Td (o) Tj ET Q q 0 0 0 rg BT 399.77 300.30 Td (xima) Tj ET Q q 0 0 0 rg BT 419.08 300.30 Td (t) Tj ET Q q 0 0 0 rg BT 422.32 300.30 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 436.38 300.30 Td (11,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 464.21 300.30 Td ( t) Tj ET Q q 0 0 0 rg BT 469.73 300.30 Td (o o) Tj ET Q q 0 0 0 rg BT 482.49 300.30 Td (v) Tj ET Q q 0 0 0 rg BT 486.91 300.30 Td (er ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 497.63 300.30 Td (575,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 530.54 300.30 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 288.30 Td (squar) Tj ET Q q 0 0 0 rg BT 76.56 288.30 Td (e f) Tj ET Q q 0 0 0 rg BT 86.60 288.30 Td (ee) Tj ET Q q 0 0 0 rg BT 96.50 288.30 Td (t.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 270.30 Td (The Same Pr) Tj ET Q q 0 0 0 rg BT 104.46 270.30 Td (operty portf) Tj ET Q q 0 0 0 rg BT 153.79 270.30 Td (olio includes shopping cen) Tj ET Q q 0 0 0 rg BT 260.75 270.30 Td (tr) Tj ET Q q 0 0 0 rg BT 267.45 270.30 Td (es c) Tj ET Q q 0 0 0 rg BT 282.75 270.30 Td (a) Tj ET Q q 0 0 0 rg BT 287.44 270.30 Td (t) Tj ET Q q 0 0 0 rg BT 290.68 270.30 Td (eg) Tj ET Q q 0 0 0 rg BT 300.30 270.30 Td (oriz) Tj ET Q q 0 0 0 rg BT 315.08 270.30 Td (ed in Same Pr) Tj ET Q q 0 0 0 rg BT 370.48 270.30 Td (operty s) Tj ET Q q 0 0 0 rg BT 410.65 270.30 Td (t) Tj ET Q q 0 0 0 rg BT 413.87 270.30 Td (able and Same Pr) Tj ET Q q 0 0 0 rg BT 484.11 270.30 Td (operty with ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 258.30 Td (incr) Tj ET Q q 0 0 0 rg BT 69.13 258.30 Td (emen) Tj ET Q q 0 0 0 rg BT 92.23 258.30 Td (t) Tj ET Q q 0 0 0 rg BT 95.46 258.30 Td (al r) Tj ET Q q 0 0 0 rg BT 108.16 258.30 Td (ede) Tj ET Q q 0 0 0 rg BT 123.32 258.30 Td (v) Tj ET Q q 0 0 0 rg BT 127.74 258.30 Td (elopmen) Tj ET Q q 0 0 0 rg BT 163.66 258.30 Td (t and e) Tj ET Q q 0 0 0 rg BT 191.65 258.30 Td (xpansion. The Same Pr) Tj ET Q q 0 0 0 rg BT 283.26 258.30 Td (operty portf) Tj ET Q q 0 0 0 rg BT 332.59 258.30 Td (olio is c) Tj ET Q q 0 0 0 rg BT 362.60 258.30 Td (omprised of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 413.89 258.30 Td (142) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 429.09 258.30 Td ( pr) Tj ET Q q 0 0 0 rg BT 439.93 258.30 Td (operties t) Tj ET Q q 0 0 0 rg BT 478.97 258.30 Td (ot) Tj ET Q q 0 0 0 rg BT 487.47 258.30 Td (aling ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 246.30 Td (20.7 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 101.69 246.30 Td ( squar) Tj ET Q q 0 0 0 rg BT 126.51 246.30 Td (e f) Tj ET Q q 0 0 0 rg BT 136.55 246.30 Td (ee) Tj ET Q q 0 0 0 rg BT 146.45 246.30 Td (t of GLA with a f) Tj ET Q q 0 0 0 rg BT 211.42 246.30 Td (air v) Tj ET Q q 0 0 0 rg BT 228.62 246.30 Td (alue of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 258.78 246.30 Td ($6.1 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.73 246.30 Td (. These pr) Tj ET Q q 0 0 0 rg BT 343.35 246.30 Td (operties r) Tj ET Q q 0 0 0 rg BT 382.48 246.30 Td (epr) Tj ET Q q 0 0 0 rg BT 396.07 246.30 Td (esen) Tj ET Q q 0 0 0 rg BT 415.09 246.30 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 420.70 246.30 Td (90.4%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 445.58 246.30 Td ( of the Compan) Tj ET Q q 0 0 0 rg BT 507.97 246.30 Td (y's ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 234.30 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 234.30 Td (operty c) Tj ET Q q 0 0 0 rg BT 95.85 234.30 Td (oun) Tj ET Q q 0 0 0 rg BT 111.54 234.30 Td (t, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 119.64 234.30 Td (85.4%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 144.52 234.30 Td ( of its GLA and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 205.30 234.30 Td (79.2%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 230.18 234.30 Td ( of its f) Tj ET Q q 0 0 0 rg BT 257.70 234.30 Td (air v) Tj ET Q q 0 0 0 rg BT 274.90 234.30 Td (alue. During the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 342.25 234.30 Td (thr) Tj ET Q q 0 0 0 rg BT 354.21 234.30 Td (ee mon) Tj ET Q q 0 0 0 rg BT 384.84 234.30 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 444.27 234.30 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 491.18 234.30 Td (, these ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 222.30 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 222.30 Td (operties g) Tj ET Q q 0 0 0 rg BT 102.98 222.30 Td (ener) Tj ET Q q 0 0 0 rg BT 121.47 222.30 Td (a) Tj ET Q q 0 0 0 rg BT 126.17 222.30 Td (t) Tj ET Q q 0 0 0 rg BT 129.41 222.30 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 141.90 222.30 Td ($85.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 194.65 222.30 Td ( of NOI which is ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 260.26 222.30 Td (84.4%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 285.14 222.30 Td ( of the Compan) Tj ET Q q 0 0 0 rg BT 347.54 222.30 Td (y's t) Tj ET Q q 0 0 0 rg BT 363.69 222.30 Td (ot) Tj ET Q q 0 0 0 rg BT 372.19 222.30 Td (al NOI. The s) Tj ET Q q 0 0 0 rg BT 423.08 222.30 Td (t) Tj ET Q q 0 0 0 rg BT 426.31 222.30 Td (ability of the portf) Tj ET Q q 0 0 0 rg BT 500.01 222.30 Td (olio is ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 210.30 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 210.30 Td (e) Tj ET Q q 0 0 0 rg BT 62.24 210.30 Td (flect) Tj ET Q q 0 0 0 rg BT 80.04 210.30 Td (ed in its occupancy of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 170.04 210.30 Td (96.4%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 194.91 210.30 Td ( as a) Tj ET Q q 0 0 0 rg BT 212.83 210.30 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 218.44 210.30 Td (Mar) Tj ET Q q 0 0 0 rg BT 235.12 210.30 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 282.03 210.30 Td (, sligh) Tj ET Q q 0 0 0 rg BT 305.16 210.30 Td (tly lo) Tj ET Q q 0 0 0 rg BT 325.12 210.30 Td (w) Tj ET Q q 0 0 0 rg BT 332.18 210.30 Td (er than ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.81 210.30 Td (96.8%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 388.69 210.30 Td ( as a) Tj ET Q q 0 0 0 rg BT 406.61 210.30 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.22 210.30 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 491.68 210.30 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 192.30 Td (The balance of the Compan) Tj ET Q q 0 0 0 rg BT 165.34 192.30 Td (y) Tj ET Q q 0 0 0 rg BT 170.17 192.30 Td () Tj ET Q q 0 0 0 rg BT 172.06 192.30 Td (s r) Tj ET Q q 0 0 0 rg BT 181.58 192.30 Td (eal es) Tj ET Q q 0 0 0 rg BT 204.68 192.30 Td (t) Tj ET Q q 0 0 0 rg BT 207.91 192.30 Td (a) Tj ET Q q 0 0 0 rg BT 212.60 192.30 Td (t) Tj ET Q q 0 0 0 rg BT 215.85 192.30 Td (e asse) Tj ET Q q 0 0 0 rg BT 240.62 192.30 Td (ts c) Tj ET Q q 0 0 0 rg BT 254.28 192.30 Td (onsis) Tj ET Q q 0 0 0 rg BT 274.82 192.30 Td (ts of shopping cen) Tj ET Q q 0 0 0 rg BT 348.75 192.30 Td (tr) Tj ET Q q 0 0 0 rg BT 355.46 192.30 Td (es with signific) Tj ET Q q 0 0 0 rg BT 414.86 192.30 Td (an) Tj ET Q q 0 0 0 rg BT 424.82 192.30 Td (t v) Tj ET Q q 0 0 0 rg BT 434.80 192.30 Td (alue enhancemen) Tj ET Q q 0 0 0 rg BT 507.23 192.30 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 180.30 Td (opportunities tha) Tj ET Q q 0 0 0 rg BT 124.79 180.30 Td (t ar) Tj ET Q q 0 0 0 rg BT 138.54 180.30 Td (e in v) Tj ET Q q 0 0 0 rg BT 159.96 180.30 Td (arious s) Tj ET Q q 0 0 0 rg BT 191.03 180.30 Td (t) Tj ET Q q 0 0 0 rg BT 194.25 180.30 Td (ag) Tj ET Q q 0 0 0 rg BT 203.67 180.30 Td (es of r) Tj ET Q q 0 0 0 rg BT 228.76 180.30 Td (ede) Tj ET Q q 0 0 0 rg BT 243.91 180.30 Td (v) Tj ET Q q 0 0 0 rg BT 248.33 180.30 Td (elopmen) Tj ET Q q 0 0 0 rg BT 284.25 180.30 Td (t, shopping cen) Tj ET Q q 0 0 0 rg BT 346.19 180.30 Td (tr) Tj ET Q q 0 0 0 rg BT 352.89 180.30 Td (es and pr) Tj ET Q q 0 0 0 rg BT 390.18 180.30 Td (operties in close pr) Tj ET Q q 0 0 0 rg BT 467.29 180.30 Td (o) Tj ET Q q 0 0 0 rg BT 472.37 180.30 Td (ximity t) Tj ET Q q 0 0 0 rg BT 502.67 180.30 Td (o e) Tj ET Q q 0 0 0 rg BT 515.03 180.30 Td (xis) Tj ET Q q 0 0 0 rg BT 525.45 180.30 Td (ting ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 168.30 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 168.30 Td (operties acquir) Tj ET Q q 0 0 0 rg BT 123.54 168.30 Td (ed in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 145.84 168.30 Td (2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 166.11 168.30 Td ( or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 179.39 168.30 Td (2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 199.66 168.30 Td (, and pr) Tj ET Q q 0 0 0 rg BT 230.56 168.30 Td (operties held f) Tj ET Q q 0 0 0 rg BT 289.22 168.30 Td (or sale. The Compan) Tj ET Q q 0 0 0 rg BT 372.07 168.30 Td (y pur) Tj ET Q q 0 0 0 rg BT 392.68 168.30 Td (sues selectiv) Tj ET Q q 0 0 0 rg BT 443.44 168.30 Td (e de) Tj ET Q q 0 0 0 rg BT 460.86 168.30 Td (v) Tj ET Q q 0 0 0 rg BT 465.27 168.30 Td (elopmen) Tj ET Q q 0 0 0 rg BT 501.20 168.30 Td (t and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 156.30 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 156.30 Td (ede) Tj ET Q q 0 0 0 rg BT 72.51 156.30 Td (v) Tj ET Q q 0 0 0 rg BT 76.93 156.30 Td (elopmen) Tj ET Q q 0 0 0 rg BT 112.85 156.30 Td (t activities including land use in) Tj ET Q q 0 0 0 rg BT 239.54 156.30 Td (t) Tj ET Q q 0 0 0 rg BT 242.78 156.30 Td (ensific) Tj ET Q q 0 0 0 rg BT 268.71 156.30 Td (a) Tj ET Q q 0 0 0 rg BT 273.40 156.30 Td (tion pr) Tj ET Q q 0 0 0 rg BT 300.42 156.30 Td (ojects, primarily on its o) Tj ET Q q 0 0 0 rg BT 397.82 156.30 Td (wn, but also with partner) Tj ET Q q 0 0 0 rg BT 500.36 156.30 Td (s, in or) Tj ET Q q 0 0 0 rg BT 527.46 156.30 Td (der ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 144.30 Td (t) Tj ET Q q 0 0 0 rg BT 57.25 144.30 Td (o achie) Tj ET Q q 0 0 0 rg BT 86.28 144.30 Td (v) Tj ET Q q 0 0 0 rg BT 90.70 144.30 Td (e a be) Tj ET Q q 0 0 0 rg BT 115.16 144.30 Td (t) Tj ET Q q 0 0 0 rg BT 118.37 144.30 Td (t) Tj ET Q q 0 0 0 rg BT 121.61 144.30 Td (er r) Tj ET Q q 0 0 0 rg BT 135.69 144.30 Td (e) Tj ET Q q 0 0 0 rg BT 140.61 144.30 Td (turn on its portf) Tj ET Q q 0 0 0 rg BT 205.03 144.30 Td (olio o) Tj ET Q q 0 0 0 rg BT 227.65 144.30 Td (v) Tj ET Q q 0 0 0 rg BT 232.07 144.30 Td (er the long t) Tj ET Q q 0 0 0 rg BT 281.67 144.30 Td (erm. The r) Tj ET Q q 0 0 0 rg BT 323.62 144.30 Td (ede) Tj ET Q q 0 0 0 rg BT 338.78 144.30 Td (v) Tj ET Q q 0 0 0 rg BT 343.19 144.30 Td (elopmen) Tj ET Q q 0 0 0 rg BT 379.12 144.30 Td (t activities ar) Tj ET Q q 0 0 0 rg BT 431.14 144.30 Td (e f) Tj ET Q q 0 0 0 rg BT 441.22 144.30 Td (ocused primarily on older) Tj ET Q q 0 0 0 rg BT 544.26 144.30 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 132.30 Td (w) Tj ET Q q 0 0 0 rg BT 61.06 132.30 Td (ell-loc) Tj ET Q q 0 0 0 rg BT 85.40 132.30 Td (a) Tj ET Q q 0 0 0 rg BT 90.10 132.30 Td (t) Tj ET Q q 0 0 0 rg BT 93.34 132.30 Td (ed shopping cen) Tj ET Q q 0 0 0 rg BT 159.66 132.30 Td (tr) Tj ET Q q 0 0 0 rg BT 166.36 132.30 Td (es tha) Tj ET Q q 0 0 0 rg BT 190.81 132.30 Td (t the Compan) Tj ET Q q 0 0 0 rg BT 245.97 132.30 Td (y o) Tj ET Q q 0 0 0 rg BT 257.99 132.30 Td (wns or activ) Tj ET Q q 0 0 0 rg BT 306.67 132.30 Td (ely seek) Tj ET Q q 0 0 0 rg BT 339.04 132.30 Td (s t) Tj ET Q q 0 0 0 rg BT 348.46 132.30 Td (o acquir) Tj ET Q q 0 0 0 rg BT 381.17 132.30 Td (e. These pr) Tj ET Q q 0 0 0 rg BT 425.76 132.30 Td (operties ar) Tj ET Q q 0 0 0 rg BT 469.69 132.30 Td (e r) Tj ET Q q 0 0 0 rg BT 480.28 132.30 Td (ede) Tj ET Q q 0 0 0 rg BT 495.44 132.30 Td (v) Tj ET Q q 0 0 0 rg BT 499.85 132.30 Td (eloped and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 120.30 Td (e) Tj ET Q q 0 0 0 rg BT 58.82 120.30 Td (xpanded, o) Tj ET Q q 0 0 0 rg BT 103.92 120.30 Td (v) Tj ET Q q 0 0 0 rg BT 108.34 120.30 Td (er time, in c) Tj ET Q q 0 0 0 rg BT 156.38 120.30 Td (onjunction with anchor t) Tj ET Q q 0 0 0 rg BT 256.57 120.30 Td (enan) Tj ET Q q 0 0 0 rg BT 276.75 120.30 Td (t r) Tj ET Q q 0 0 0 rg BT 285.71 120.30 Td (epositioning and changing r) Tj ET Q q 0 0 0 rg BT 397.77 120.30 Td (e) Tj ET Q q 0 0 0 rg BT 402.70 120.30 Td (t) Tj ET Q q 0 0 0 rg BT 405.92 120.30 Td (ail en) Tj ET Q q 0 0 0 rg BT 427.63 120.30 Td (vir) Tj ET Q q 0 0 0 rg BT 437.76 120.30 Td (onmen) Tj ET Q q 0 0 0 rg BT 466.42 120.30 Td (ts. R) Tj ET Q q 0 0 0 rg BT 483.72 120.30 Td (ede) Tj ET Q q 0 0 0 rg BT 498.87 120.30 Td (v) Tj ET Q q 0 0 0 rg BT 503.29 120.30 Td (elopmen) Tj ET Q q 0 0 0 rg BT 539.21 120.30 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 108.30 Td (of e) Tj ET Q q 0 0 0 rg BT 69.41 108.30 Td (xis) Tj ET Q q 0 0 0 rg BT 79.83 108.30 Td (ting pr) Tj ET Q q 0 0 0 rg BT 106.28 108.30 Td (operties g) Tj ET Q q 0 0 0 rg BT 146.69 108.30 Td (ener) Tj ET Q q 0 0 0 rg BT 165.17 108.30 Td (ally c) Tj ET Q q 0 0 0 rg BT 185.48 108.30 Td (arries a lo) Tj ET Q q 0 0 0 rg BT 225.27 108.30 Td (w) Tj ET Q q 0 0 0 rg BT 232.33 108.30 Td (er mark) Tj ET Q q 0 0 0 rg BT 263.54 108.30 Td (e) Tj ET Q q 0 0 0 rg BT 268.46 108.30 Td (t risk due t) Tj ET Q q 0 0 0 rg BT 311.57 108.30 Td (o the urban loc) Tj ET Q q 0 0 0 rg BT 372.96 108.30 Td (a) Tj ET Q q 0 0 0 rg BT 377.65 108.30 Td (tions, e) Tj ET Q q 0 0 0 rg BT 407.32 108.30 Td (xis) Tj ET Q q 0 0 0 rg BT 417.74 108.30 Td (ting t) Tj ET Q q 0 0 0 rg BT 438.85 108.30 Td (enan) Tj ET Q q 0 0 0 rg BT 459.03 108.30 Td (t base and land use ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 96.30 Td (in) Tj ET Q q 0 0 0 rg BT 61.46 96.30 Td (t) Tj ET Q q 0 0 0 rg BT 64.70 96.30 Td (ensific) Tj ET Q q 0 0 0 rg BT 90.63 96.30 Td (a) Tj ET Q q 0 0 0 rg BT 95.32 96.30 Td (tion opportunities. ) Tj ET Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (16) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 694.50 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 694.50 Td (y) Tj ET Q q 0 0 0 rg BT 109.90 694.50 Td () Tj ET Q q 0 0 0 rg BT 111.78 694.50 Td (s pr) Tj ET Q q 0 0 0 rg BT 126.53 694.50 Td (oportiona) Tj ET Q q 0 0 0 rg BT 166.69 694.50 Td (t) Tj ET Q q 0 0 0 rg BT 169.93 694.50 Td (e in) Tj ET Q q 0 0 0 rg BT 184.63 694.50 Td (t) Tj ET Q q 0 0 0 rg BT 187.87 694.50 Td (er) Tj ET Q q 0 0 0 rg BT 196.20 694.50 Td (es) Tj ET Q q 0 0 0 rg BT 204.97 694.50 Td (t in its shopping cen) Tj ET Q q 0 0 0 rg BT 286.04 694.50 Td (tr) Tj ET Q q 0 0 0 rg BT 292.74 694.50 Td (e portf) Tj ET Q q 0 0 0 rg BT 320.18 694.50 Td (olio based on pr) Tj ET Q q 0 0 0 rg BT 385.39 694.50 Td (operty c) Tj ET Q q 0 0 0 rg BT 418.66 694.50 Td (a) Tj ET Q q 0 0 0 rg BT 423.36 694.50 Td (t) Tj ET Q q 0 0 0 rg BT 426.60 694.50 Td (eg) Tj ET Q q 0 0 0 rg BT 436.22 694.50 Td (oriz) Tj ET Q q 0 0 0 rg BT 451.06 694.50 Td (a) Tj ET Q q 0 0 0 rg BT 455.75 694.50 Td (tion is summariz) Tj ET Q q 0 0 0 rg BT 522.09 694.50 Td (ed as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 682.50 Td (f) Tj ET Q q 0 0 0 rg BT 56.84 682.50 Td (ollo) Tj ET Q q 0 0 0 rg BT 71.94 682.50 Td (w) Tj ET Q q 0 0 0 rg BT 79.00 682.50 Td (s:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 672 m 174.5 672 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 672 m 212.5 672 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 672 m 250.5 672 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 672 m 288.5 672 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 672 m 327.5 672 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 672 m 365.5 672 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 672 m 401.5 672 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 672 m 439.5 672 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 672 m 477.5 672 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 672 m 515.5 672 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 672 m 553.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 657 m 174.5 657 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 616 m 174.5 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 174.5 657 m 212.5 657 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 174.5 616 m 212.5 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 212.5 657 m 250.5 657 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 212.5 616 m 250.5 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 250.5 657 m 288.5 657 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 250.5 616 m 288.5 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 288.5 657 m 327.5 657 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 288.5 616 m 327.5 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 327.5 657 m 365.5 657 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 327.5 616 m 365.5 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 365.5 657 m 401.5 657 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 365.5 616 m 401.5 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401.5 657 m 439.5 657 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401.5 616 m 439.5 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 439.5 657 m 477.5 657 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 439.5 616 m 477.5 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 477.5 657 m 515.5 657 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 477.5 616 m 515.5 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515.5 657 m 553.5 657 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515.5 616 m 553.5 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 288.5 616 m 327.5 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 327.5 616 m 365.5 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 477.5 616 m 515.5 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515.5 616 m 553.5 616 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 573 m 174.5 573 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 560 m 174.5 560 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 174.5 573 m 212.5 573 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 174.5 560 m 212.5 560 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 212.5 573 m 250.5 573 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 212.5 560 m 250.5 560 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 250.5 573 m 288.5 573 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 250.5 560 m 288.5 560 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 288.5 573 m 327.5 573 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 288.5 560 m 327.5 560 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 327.5 573 m 365.5 573 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 327.5 560 m 365.5 560 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 365.5 573 m 401.5 573 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 365.5 560 m 401.5 560 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401.5 573 m 439.5 573 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401.5 560 m 439.5 560 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 439.5 573 m 477.5 573 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 439.5 560 m 477.5 560 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 477.5 573 m 515.5 573 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 477.5 560 m 515.5 560 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515.5 573 m 553.5 573 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515.5 560 m 553.5 560 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 473 m 174.5 473 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 458 m 174.5 458 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 174.5 473 m 212.5 473 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 458 m 212.5 458 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 212.5 473 m 250.5 473 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 458 m 250.5 458 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 250.5 473 m 288.5 473 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 458 m 288.5 458 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 288.5 473 m 327.5 473 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 458 m 327.5 458 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 327.5 473 m 365.5 473 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 458 m 365.5 458 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 365.5 473 m 401.5 473 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 458 m 401.5 458 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401.5 473 m 439.5 473 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 458 m 439.5 458 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 439.5 473 m 477.5 473 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 458 m 477.5 458 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 477.5 473 m 515.5 473 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 458 m 515.5 458 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515.5 473 m 553.5 473 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 458 m 553.5 458 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 661.75 Td (As at) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.25 661.75 Td (March 31, 2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 478.45 661.75 Td (December 31, 2014) Tj ET Q BT /F4 7.00 Tf ET q 0 0 0 rg BT 57.00 620.25 Td (\(millions of dollars, except other data\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 185.15 634.25 Td (Number ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 203.00 627.25 Td (of) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 178.85 620.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 184.98 620.25 Td (operties ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 235.30 634.25 Td (GLA) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 221.35 627.25 Td (\(000s sq. ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 238.30 620.25 Td (ft.\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 274.30 627.25 Td (F) Tj ET Q q 0 0 0 rg BT 277.32 627.25 Td (air) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 268.75 620.25 Td (V) Tj ET Q q 0 0 0 rg BT 272.50 620.25 Td (alue ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 292.40 620.25 Td (Occupancy) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 334.00 648.25 Td (Weighted) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 338.60 641.25 Td (Average) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 337.45 634.25 Td (Rate per) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 341.75 627.25 Td (Square) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 348.90 620.25 Td (Foot) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 374.60 634.25 Td (Number ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 392.15 627.25 Td (of) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 368.55 620.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 374.49 620.25 Td (operties ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 424.55 634.25 Td (GLA) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 410.70 627.25 Td (\(000s sq. ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 427.60 620.25 Td (ft.\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 463.55 628.65 Td (F) Tj ET Q q 0 0 0 rg BT 466.58 628.65 Td (air) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 458.25 620.25 Td (V) Tj ET Q q 0 0 0 rg BT 461.83 620.25 Td (alue) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 473.95 623.59 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 480.90 620.25 Td (Occupancy) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 522.60 648.25 Td (Weighted) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 527.10 641.25 Td (Average) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 525.95 634.25 Td (Rate per) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 530.20 627.25 Td (Square) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 537.15 620.25 Td (Foot) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 606.75 Td (Same Property stable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 195.45 606.75 Td (127) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 222.00 606.75 Td (18,082) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 253.00 606.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 264.55 606.75 Td (5,425) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.30 606.75 Td (96.5) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 320.40 606.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 330.00 606.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 341.50 606.75 Td (18.49) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.55 606.75 Td (127) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.15 606.75 Td (18,090) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 442.00 606.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 453.75 606.75 Td (5,384) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 492.55 606.75 Td (96.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.55 606.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 518.00 606.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.70 606.75 Td (18.53) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 593.75 Td (Same Property with) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 584.75 Td (incremental redevelopment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 575.75 Td (and expansion) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 200.00 593.75 Td (15) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 226.50 593.75 Td (2,609) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 271.45 593.75 Td (631) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.30 593.75 Td (95.8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 320.40 593.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 341.50 593.75 Td (16.53) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 389.10 593.75 Td (15) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 415.75 593.75 Td (2,600) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.55 593.75 Td (625) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 492.55 593.75 Td (96.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.55 593.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.70 593.75 Td (16.40) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 563.75 Td (Total Same Property) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 195.45 563.75 Td (142) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 222.00 563.75 Td (20,691) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 264.55 563.75 Td (6,056) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.30 563.75 Td (96.4) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 320.40 563.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 341.50 563.75 Td (18.24) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.55 563.75 Td (142) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.15 563.75 Td (20,690) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 453.75 563.75 Td (6,009) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 492.55 563.75 Td (96.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.55 563.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.70 563.75 Td (18.26) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 550.75 Td (Major redevelopment) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 204.50 550.75 Td (9) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 226.50 550.75 Td (2,377) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 264.55 550.75 Td (1,011) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.30 550.75 Td (90.7) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 320.40 550.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 341.50 550.75 Td (19.69) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 393.65 550.75 Td (9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 415.75 550.75 Td (2,372) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.55 550.75 Td (997) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 492.55 550.75 Td (90.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.55 550.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.70 550.75 Td (19.55) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 537.75 Td (Ground-up development) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 204.50 537.75 Td (3) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 233.45 537.75 Td (529) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 271.45 537.75 Td (283) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.30 537.75 Td (90.9) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 320.40 537.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 341.50 537.75 Td (16.04) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 393.65 537.75 Td (3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 422.55 537.75 Td (528) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.55 537.75 Td (261) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 492.55 537.75 Td (90.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.55 537.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.70 537.75 Td (18.55) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 524.75 Td (Acquisitions 2015 ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 130.03 529.04 Td (\(1\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 201.00 524.75 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 238.00 524.75 Td (42) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 276.00 524.75 Td (47) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.30 524.75 Td (74.8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 320.40 524.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 341.50 524.75 Td (31.08) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 390.10 524.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 428.10 524.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.10 524.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 500.40 524.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.55 524.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.10 524.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 511.75 Td (Acquisitions 2014) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 204.50 511.75 Td (2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 233.45 511.75 Td (467) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 271.45 511.75 Td (181) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.30 511.75 Td (91.9) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 320.40 511.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 341.50 511.75 Td (26.20) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 393.65 511.75 Td (2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 422.55 511.75 Td (472) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.55 511.75 Td (194) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 492.55 511.75 Td (92.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.55 511.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.70 511.75 Td (26.40) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 498.75 Td (In) Tj ET Q q 0 0 0 rg BT 63.85 498.75 Td (v) Tj ET Q q 0 0 0 rg BT 67.82 498.75 Td (es) Tj ET Q q 0 0 0 rg BT 75.72 498.75 Td (tmen) Tj ET Q q 0 0 0 rg BT 95.05 498.75 Td (t pr) Tj ET Q q 0 0 0 rg BT 107.82 498.75 Td (operties ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 489.75 Td (classified as held f) Tj ET Q q 0 0 0 rg BT 131.80 489.75 Td (or sale ) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 158.13 493.09 Td (\(2\) \(3\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 204.50 498.75 Td (1) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 233.45 498.75 Td (132) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 276.00 498.75 Td (69) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 299.75 498.75 Td (100.0) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 320.40 498.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 341.50 498.75 Td (12.75) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 393.65 498.75 Td (1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 422.55 498.75 Td (132) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 465.10 498.75 Td (69) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 488.00 498.75 Td (100.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.55 498.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.70 498.75 Td (13.07) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 476.75 Td (Dispositions 2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 201.00 476.75 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 239.00 476.75 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 277.00 476.75 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 312.25 476.75 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 320.40 476.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 354.00 476.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 393.65 476.75 Td (1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 422.55 476.75 Td (137) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 465.10 476.75 Td (21) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 492.55 476.75 Td (93.1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.55 476.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.70 476.75 Td (12.65) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 462.75 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 195.45 462.75 Td (157) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 222.00 462.75 Td (24,238) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 253.00 462.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 264.55 462.75 Td (7,647) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.30 462.75 Td (95.6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 320.40 462.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 330.00 462.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 341.50 462.75 Td (18.40) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.55 462.75 Td (158) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.15 462.75 Td (24,331) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 442.00 462.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 453.75 462.75 Td (7,551) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 492.55 462.75 Td (96.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.55 462.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 518.00 462.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.70 462.75 Td (18.42) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 450.44 Td (\(1\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 59.06 447.10 Td ( ) Tj ET Q q 0 0 0 rg BT 63.00 447.10 Td (Adjacen) Tj ET Q q 0 0 0 rg BT 85.81 447.10 Td (t pr) Tj ET Q q 0 0 0 rg BT 95.74 447.10 Td (operties in close pr) Tj ET Q q 0 0 0 rg BT 149.72 447.10 Td (o) Tj ET Q q 0 0 0 rg BT 153.28 447.10 Td (ximity t) Tj ET Q q 0 0 0 rg BT 174.49 447.10 Td (o e) Tj ET Q q 0 0 0 rg BT 183.14 447.10 Td (xis) Tj ET Q q 0 0 0 rg BT 190.44 447.10 Td (ting pr) Tj ET Q q 0 0 0 rg BT 208.95 447.10 Td (operties.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 439.09 Td (\(2\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 435.75 Td (The number of pr) Tj ET Q q 0 0 0 rg BT 112.70 435.75 Td (operties and GLA e) Tj ET Q q 0 0 0 rg BT 166.41 435.75 Td (x) Tj ET Q q 0 0 0 rg BT 169.28 435.75 Td (clude a shopping cen) Tj ET Q q 0 0 0 rg BT 228.88 435.75 Td (tr) Tj ET Q q 0 0 0 rg BT 233.58 435.75 Td (e tha) Tj ET Q q 0 0 0 rg BT 247.95 435.75 Td (t is 50% held f) Tj ET Q q 0 0 0 rg BT 287.51 435.75 Td (or sale. The GLA and pr) Tj ET Q q 0 0 0 rg BT 353.19 435.75 Td (operty c) Tj ET Q q 0 0 0 rg BT 376.48 435.75 Td (oun) Tj ET Q q 0 0 0 rg BT 387.46 435.75 Td (t f) Tj ET Q q 0 0 0 rg BT 393.38 435.75 Td (or this shopping cen) Tj ET Q q 0 0 0 rg BT 450.72 435.75 Td (tr) Tj ET Q q 0 0 0 rg BT 455.42 435.75 Td (e is included in Same Pr) Tj ET Q q 0 0 0 rg BT 522.40 435.75 Td (operty ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 427.35 Td (with incr) Tj ET Q q 0 0 0 rg BT 87.81 427.35 Td (emen) Tj ET Q q 0 0 0 rg BT 103.98 427.35 Td (t) Tj ET Q q 0 0 0 rg BT 106.24 427.35 Td (al r) Tj ET Q q 0 0 0 rg BT 115.13 427.35 Td (ede) Tj ET Q q 0 0 0 rg BT 125.74 427.35 Td (v) Tj ET Q q 0 0 0 rg BT 128.83 427.35 Td (elopmen) Tj ET Q q 0 0 0 rg BT 153.98 427.35 Td (t and e) Tj ET Q q 0 0 0 rg BT 173.57 427.35 Td (xpansion.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 419.29 Td (\(3\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 59.06 415.95 Td ( ) Tj ET Q q 0 0 0 rg BT 63.00 415.95 Td (The f) Tj ET Q q 0 0 0 rg BT 77.15 415.95 Td (air v) Tj ET Q q 0 0 0 rg BT 89.20 415.95 Td (alue e) Tj ET Q q 0 0 0 rg BT 106.27 415.95 Td (x) Tj ET Q q 0 0 0 rg BT 109.15 415.95 Td (cludes de) Tj ET Q q 0 0 0 rg BT 136.00 415.95 Td (v) Tj ET Q q 0 0 0 rg BT 139.09 415.95 Td (elopmen) Tj ET Q q 0 0 0 rg BT 164.24 415.95 Td (t land held f) Tj ET Q q 0 0 0 rg BT 198.08 415.95 Td (or sale of ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 225.97 415.95 Td ($7 million) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 254.03 415.95 Td (. ) Tj ET Q endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (17) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 694.50 Td (The Compan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 105.07 694.50 Td (y) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 109.90 694.50 Td () Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 111.78 694.50 Td (s shopping cen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 171.78 694.50 Td (tr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 178.49 694.50 Td (e portf) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 205.93 694.50 Td (olio summariz) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 262.76 694.50 Td (ed b) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 280.46 694.50 Td (y r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 290.60 694.50 Td (egion is as f) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 337.64 694.50 Td (ollo) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 352.74 694.50 Td (w) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 359.80 694.50 Td (s:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 684 m 123.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 669 m 123.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 123.5 684 m 160.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 123.5 669 m 160.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 684 m 193.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 160.5 669 m 193.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 193.5 684 m 227.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 193.5 669 m 227.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227.5 684 m 265.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 227.5 669 m 265.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 684 m 304.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 265.5 669 m 304.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 684 m 339.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 304.5 669 m 339.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 684 m 375.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339.5 669 m 375.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 684 m 408.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375.5 669 m 408.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 684 m 441.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 669 m 441.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 684 m 479.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 441.5 669 m 479.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 684 m 515.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479.5 669 m 515.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 684 m 549.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515.5 669 m 549.5 669 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 619 m 123.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 123.5 619 m 160.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 160.5 619 m 193.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 193.5 619 m 227.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 227.5 619 m 265.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 265.5 669 m 304.5 669 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 265.5 619 m 304.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 304.5 619 m 339.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339.5 619 m 375.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375.5 619 m 408.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 619 m 441.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 441.5 619 m 479.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479.5 669 m 515.5 669 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479.5 619 m 515.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515.5 619 m 549.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 619 m 123.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 123.5 619 m 160.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 160.5 619 m 193.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 193.5 619 m 227.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 227.5 619 m 265.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 265.5 619 m 304.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 304.5 619 m 339.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339.5 619 m 375.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375.5 619 m 408.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 619 m 441.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 441.5 619 m 479.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479.5 619 m 515.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515.5 619 m 549.5 619 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 536 m 123.5 536 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 123.5 536 m 160.5 536 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 160.5 536 m 193.5 536 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 193.5 536 m 227.5 536 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 227.5 536 m 265.5 536 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 265.5 536 m 304.5 536 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 304.5 536 m 339.5 536 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339.5 536 m 375.5 536 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375.5 536 m 408.5 536 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 536 m 441.5 536 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 441.5 536 m 479.5 536 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479.5 536 m 515.5 536 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515.5 536 m 549.5 536 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 438 m 123.5 438 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 123.5 438 m 160.5 438 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 160.5 438 m 193.5 438 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 193.5 438 m 227.5 438 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 227.5 438 m 265.5 438 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 265.5 438 m 304.5 438 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 304.5 438 m 339.5 438 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339.5 438 m 375.5 438 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375.5 438 m 408.5 438 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 438 m 441.5 438 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 441.5 438 m 479.5 438 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479.5 438 m 515.5 438 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515.5 438 m 549.5 438 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 312 m 123.5 312 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 123.5 312 m 160.5 312 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 160.5 312 m 193.5 312 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 193.5 312 m 227.5 312 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 227.5 312 m 265.5 312 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 265.5 312 m 304.5 312 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 304.5 312 m 339.5 312 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339.5 312 m 375.5 312 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375.5 312 m 408.5 312 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 312 m 441.5 312 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 441.5 312 m 479.5 312 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479.5 312 m 515.5 312 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515.5 312 m 549.5 312 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 297 m 123.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 123.5 297 m 160.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 160.5 297 m 193.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 193.5 312 m 227.5 312 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 193.5 297 m 227.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 227.5 312 m 265.5 312 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 227.5 297 m 265.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 265.5 297 m 304.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 304.5 297 m 339.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339.5 297 m 375.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375.5 297 m 408.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 312 m 441.5 312 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 297 m 441.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 441.5 312 m 479.5 312 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 441.5 297 m 479.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479.5 297 m 515.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515.5 297 m 549.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 297 m 123.5 297 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 282 m 123.5 282 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 123.5 297 m 160.5 297 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 123.5 282 m 160.5 282 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 160.5 297 m 193.5 297 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 282 m 193.5 282 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 193.5 297 m 227.5 297 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 193.5 282 m 227.5 282 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 227.5 297 m 265.5 297 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227.5 282 m 265.5 282 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 265.5 297 m 304.5 297 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 282 m 304.5 282 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 304.5 297 m 339.5 297 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 282 m 339.5 282 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339.5 297 m 375.5 297 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 282 m 375.5 282 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375.5 297 m 408.5 297 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 282 m 408.5 282 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 297 m 441.5 297 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 282 m 441.5 282 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 441.5 297 m 479.5 297 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 282 m 479.5 282 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479.5 297 m 515.5 297 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 282 m 515.5 282 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515.5 297 m 549.5 297 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 282 m 549.5 282 l s BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 57.00 673.75 Td (As at) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 278.25 673.75 Td (March 31, 2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 474.45 673.75 Td (December 31, 2014) Tj ET Q BT /F4 7.00 Tf ET q 0 0 0 rg BT 57.00 630.25 Td (\(millions of dollars,) Tj ET Q BT /F4 7.00 Tf ET q 0 0 0 rg BT 57.00 623.25 Td (except other data\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 133.15 637.25 Td (Number ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 151.00 630.25 Td (of) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 126.85 623.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 132.98 623.25 Td (operties ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 178.30 637.25 Td (GLA ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 164.35 630.25 Td (\(000s sq. ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 181.30 623.25 Td (ft.\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 213.30 630.25 Td (Fair) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 207.75 623.25 Td (Value) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 230.40 623.25 Td (Occupancy) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 273.00 658.25 Td (Weighted) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 277.60 651.25 Td (Average) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 276.45 644.25 Td (Rate per) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 273.85 637.25 Td (Occupied) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 280.75 630.25 Td (Square) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 287.90 623.25 Td (Foot) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 323.30 644.25 Td (% of ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 315.30 637.25 Td (Annual) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 307.50 630.25 Td (Minimum) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 322.50 623.25 Td (R) Tj ET Q q 0 0 0 rg BT 326.34 623.25 Td (en) Tj ET Q q 0 0 0 rg BT 333.55 623.25 Td (t) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 348.60 637.25 Td (Number ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 366.15 630.25 Td (of) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 342.55 623.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 348.49 623.25 Td (operties ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 393.55 637.25 Td (GLA) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 379.70 630.25 Td (\(000s sq.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 396.60 623.25 Td (ft.\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 427.55 630.25 Td (F) Tj ET Q q 0 0 0 rg BT 430.58 630.25 Td (air) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 422.25 623.25 Td (V) Tj ET Q q 0 0 0 rg BT 425.83 623.25 Td (alue) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 444.90 623.25 Td (Occupancy) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 484.60 658.25 Td (Weighted) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 489.10 651.25 Td (Average) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 487.95 644.25 Td (Rate per) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 485.30 637.25 Td (Occupied) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 492.20 630.25 Td (Square) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 499.15 623.25 Td (Foot) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 533.55 644.25 Td (% of ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 525.95 637.25 Td (Annual) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 518.25 630.25 Td (Minimum) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 532.85 623.25 Td (R) Tj ET Q q 0 0 0 rg BT 536.53 623.25 Td (en) Tj ET Q q 0 0 0 rg BT 543.62 623.25 Td (t) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 57.00 609.75 Td (Central Region) Tj ET Q BT /F3 9.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 57.00 596.75 Td (Greater Toronto) Tj ET Q BT /F3 9.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 66.00 587.75 Td (Area) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 148.00 596.75 Td (44) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 169.55 596.75 Td (6,667) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 196.00 596.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 203.50 596.75 Td (2,720) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 242.25 596.75 Td (96.4) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.40 596.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 268.00 596.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 280.50 596.75 Td (21.32) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 323.25 596.75 Td (33) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.40 596.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.10 596.75 Td (44) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.75 596.75 Td (6,637) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.00 596.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.75 596.75 Td (2,674) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.55 596.75 Td (96.6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.55 596.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.00 596.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.70 596.75 Td (21.23) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.40 596.75 Td (32) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 596.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 57.00 575.75 Td (Golden) Tj ET Q BT /F3 9.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 66.00 564.95 Td (Horseshoe) Tj ET Q BT /F3 9.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 66.00 554.20 Td (Area) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 152.55 575.75 Td (8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 169.55 575.75 Td (1,609) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 210.45 575.75 Td (376) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 242.25 575.75 Td (98.7) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.40 575.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 280.50 575.75 Td (15.16) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 327.80 575.75 Td (6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.40 575.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 367.65 575.75 Td (8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.75 575.75 Td (1,604) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 424.55 575.75 Td (382) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.55 575.75 Td (99.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.55 575.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.70 575.75 Td (15.11) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.95 575.75 Td (6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 575.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 57.00 539.75 Td (London Area) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 152.55 539.75 Td (7) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 176.45 539.75 Td (687) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 210.45 539.75 Td (166) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 242.25 539.75 Td (98.5) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.40 539.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 280.50 539.75 Td (15.42) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 327.80 539.75 Td (3) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.40 539.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 367.65 539.75 Td (7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.55 539.75 Td (691) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 424.55 539.75 Td (166) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.55 539.75 Td (98.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.55 539.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.70 539.75 Td (15.40) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.95 539.75 Td (3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 539.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 148.00 525.75 Td (59) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 169.55 525.75 Td (8,963) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 203.50 525.75 Td (3,262) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 242.25 525.75 Td (97.0) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.40 525.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 280.50 525.75 Td (19.74) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 323.25 525.75 Td (42) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.40 525.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.10 525.75 Td (59) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.75 525.75 Td (8,932) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.75 525.75 Td (3,222) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.55 525.75 Td (97.1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.55 525.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.70 525.75 Td (19.66) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.40 525.75 Td (41) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 525.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 511.75 Td (Eastern Region) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 57.00 498.75 Td (Quebec City) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 152.55 498.75 Td (5) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 169.55 498.75 Td (1,009) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 210.45 498.75 Td (170) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 242.25 498.75 Td (95.5) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.40 498.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 280.50 498.75 Td (10.84) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 327.80 498.75 Td (3) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.40 498.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 367.65 498.75 Td (5) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.75 498.75 Td (1,009) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 424.55 498.75 Td (168) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.55 498.75 Td (96.1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.55 498.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.70 498.75 Td (11.20) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.95 498.75 Td (3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 498.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 57.00 485.75 Td (Greater) Tj ET Q BT /F3 9.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 66.00 476.75 Td (Montreal Area) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 148.00 485.75 Td (34) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 169.55 485.75 Td (4,858) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 203.50 485.75 Td (1,162) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 242.25 485.75 Td (93.2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.40 485.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 280.50 485.75 Td (14.64) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 323.25 485.75 Td (16) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.40 485.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.10 485.75 Td (35) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.75 485.75 Td (5,019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.75 485.75 Td (1,173) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.55 485.75 Td (93.6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.55 485.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.70 485.75 Td (15.02) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.40 485.75 Td (17) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 485.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 57.00 463.75 Td (Greater Ottawa) Tj ET Q BT /F3 9.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 66.00 452.95 Td (Area) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 148.00 463.75 Td (11) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 169.55 463.75 Td (1,965) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 210.45 463.75 Td (442) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 242.25 463.75 Td (96.6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.40 463.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 280.50 463.75 Td (16.65) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 327.80 463.75 Td (6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.40 463.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.10 463.75 Td (11) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.75 463.75 Td (1,964) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 424.55 463.75 Td (427) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.55 463.75 Td (97.1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.55 463.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.70 463.75 Td (16.61) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.95 463.75 Td (7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 463.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 57.00 441.75 Td (Other) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 152.55 441.75 Td (1) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 176.45 441.75 Td (121) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 215.00 441.75 Td (23) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 242.25 441.75 Td (98.2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.40 441.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 280.50 441.75 Td (13.93) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 324.25 441.75 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.40 441.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 367.65 441.75 Td (1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.55 441.75 Td (121) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.10 441.75 Td (23) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.55 441.75 Td (98.2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.55 441.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.70 441.75 Td (13.90) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.40 441.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 441.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 148.00 427.75 Td (51) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 169.55 427.75 Td (7,953) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 203.50 427.75 Td (1,797) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 242.25 427.75 Td (94.4) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.40 427.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 280.50 427.75 Td (14.65) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 323.25 427.75 Td (25) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.40 427.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.10 427.75 Td (52) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.75 427.75 Td (8,113) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.75 427.75 Td (1,791) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.55 427.75 Td (94.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.55 427.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.70 427.75 Td (14.91) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.40 427.75 Td (27) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 427.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 413.75 Td (Western Region) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 57.00 400.75 Td (Greater Calgary) Tj ET Q BT /F3 9.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 66.00 389.95 Td (Area) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 148.00 400.75 Td (15) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 169.55 400.75 Td (2,496) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 210.45 400.75 Td (960) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 242.25 400.75 Td (97.6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.40 400.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 280.50 400.75 Td (22.10) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 323.25 400.75 Td (13) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.40 400.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.10 400.75 Td (15) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.75 400.75 Td (2,454) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 424.55 400.75 Td (911) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.55 400.75 Td (98.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.55 400.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.70 400.75 Td (21.81) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.40 400.75 Td (12) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 400.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 378.75 Td (Red Deer) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 152.55 378.75 Td (1) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 176.45 378.75 Td (244) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 215.00 378.75 Td (73) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 242.25 378.75 Td (96.8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.40 378.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 280.50 378.75 Td (19.50) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 327.80 378.75 Td (1) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.40 378.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 367.65 378.75 Td (1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.55 378.75 Td (244) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.10 378.75 Td (73) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.55 378.75 Td (98.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.55 378.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.70 378.75 Td (19.73) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.95 378.75 Td (1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 378.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 365.75 Td (Greater) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 356.75 Td (Edmonton) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 347.75 Td (Area) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 148.00 365.75 Td (12) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 169.55 365.75 Td (2,391) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 210.45 365.75 Td (687) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 242.25 365.75 Td (94.2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.40 365.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 280.50 365.75 Td (18.30) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 327.80 365.75 Td (9) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.40 365.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.10 365.75 Td (12) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.75 365.75 Td (2,396) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 424.55 365.75 Td (684) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.55 365.75 Td (95.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.55 365.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.70 365.75 Td (18.38) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.95 365.75 Td (9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 365.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 57.00 334.75 Td (Greater) Tj ET Q BT /F3 9.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 66.00 325.75 Td (Vancouver) Tj ET Q BT /F3 9.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 66.00 316.75 Td (Area) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 148.00 334.75 Td (19) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 169.55 334.75 Td (2,191) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 210.45 334.75 Td (868) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 242.25 334.75 Td (93.5) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.40 334.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 280.50 334.75 Td (22.10) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 323.25 334.75 Td (10) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.40 334.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.10 334.75 Td (19) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.75 334.75 Td (2,192) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 424.55 334.75 Td (870) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.55 334.75 Td (93.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.55 334.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.70 334.75 Td (22.22) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.40 334.75 Td (10) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 334.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 148.00 301.75 Td (47) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 169.55 301.75 Td (7,322) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 203.50 301.75 Td (2,588) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 242.25 301.75 Td (95.2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.40 301.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 280.50 301.75 Td (20.78) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 323.25 301.75 Td (33) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.40 301.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.10 301.75 Td (47) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.75 301.75 Td (7,286) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.75 301.75 Td (2,538) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.55 301.75 Td (95.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.55 301.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.70 301.75 Td (20.74) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.40 301.75 Td (32) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 301.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 57.00 286.75 Td (Total) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 143.40 286.75 Td (157) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 165.00 286.75 Td (24,238) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 196.00 286.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 203.50 286.75 Td (7,647) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 242.25 286.75 Td (95.6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.40 286.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 268.00 286.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 280.50 286.75 Td (18.40) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 318.70 286.75 Td (100) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.40 286.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 358.55 286.75 Td (158) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 380.15 286.75 Td (24,331) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.00 286.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.75 286.75 Td (7,551) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.55 286.75 Td (96.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.55 286.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.00 286.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.70 286.75 Td (18.42) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.85 286.75 Td (100) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 286.75 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 39 0 obj <> endobj 40 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (18) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 693.00 Td (V) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 60.43 693.00 Td (alua) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 81.56 693.00 Td (tion of In) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 126.70 693.00 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 132.26 693.00 Td (es) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 142.96 693.00 Td (tmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 169.25 693.00 Td (t Pr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 186.63 693.00 Td (operties Under IFR) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 279.55 693.00 Td (S) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 678.00 Td (During the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.25 678.00 Td (thr) Tj ET Q q 0 0 0 rg BT 111.21 678.00 Td (ee mon) Tj ET Q q 0 0 0 rg BT 141.84 678.00 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 201.27 678.00 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.18 678.00 Td (, the w) Tj ET Q q 0 0 0 rg BT 275.84 678.00 Td (eigh) Tj ET Q q 0 0 0 rg BT 292.97 678.00 Td 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activities. The Compan) Tj ET Q q 0 0 0 rg BT 325.45 654.00 Td (y) Tj ET Q q 0 0 0 rg BT 330.28 654.00 Td () Tj ET Q q 0 0 0 rg BT 332.16 654.00 Td (s pr) Tj ET Q q 0 0 0 rg BT 346.92 654.00 Td (oportiona) Tj ET Q q 0 0 0 rg BT 387.07 654.00 Td (t) Tj ET Q q 0 0 0 rg BT 390.31 654.00 Td (e in) Tj ET Q q 0 0 0 rg BT 405.01 654.00 Td (t) Tj ET Q q 0 0 0 rg BT 408.25 654.00 Td (er) Tj ET Q q 0 0 0 rg BT 416.58 654.00 Td (es) Tj ET Q q 0 0 0 rg BT 425.35 654.00 Td (t in the ne) Tj ET Q q 0 0 0 rg BT 466.79 654.00 Td (t incr) Tj ET Q q 0 0 0 rg BT 487.53 654.00 Td (ease in v) Tj ET Q q 0 0 0 rg BT 522.62 654.00 Td (alue ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 642.00 Td (of in) Tj ET Q q 0 0 0 rg BT 71.97 642.00 Td (v) Tj ET Q q 0 0 0 rg BT 76.39 642.00 Td (es) Tj ET Q q 0 0 0 rg BT 85.16 642.00 Td (tmen) Tj ET Q q 0 0 0 rg BT 106.64 642.00 Td (t pr) Tj ET Q q 0 0 0 rg BT 120.83 642.00 Td (operties w) Tj ET Q q 0 0 0 rg BT 163.64 642.00 Td (as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 174.61 642.00 Td ($4.4 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 222.29 642.00 Td ( fr) Tj ET Q q 0 0 0 rg BT 230.93 642.00 Td (om ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 246.45 642.00 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 325.91 642.00 Td ( t) Tj ET Q q 0 0 0 rg BT 331.43 642.00 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 338.96 642.00 Td (Mar) Tj ET Q q 0 0 0 rg BT 355.64 642.00 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 402.55 642.00 Td (. 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Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 588.00 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 588.00 Td (y has thr) Tj ET Q q 0 0 0 rg BT 140.03 588.00 Td (ee appr) Tj ET Q q 0 0 0 rg BT 170.87 588.00 Td (oaches t) Tj ET Q q 0 0 0 rg BT 204.81 588.00 Td (o de) Tj ET Q q 0 0 0 rg BT 222.52 588.00 Td (t) Tj ET Q q 0 0 0 rg BT 225.76 588.00 Td (ermine the f) Tj ET Q q 0 0 0 rg BT 275.69 588.00 Td (air v) Tj ET Q q 0 0 0 rg BT 292.90 588.00 Td (alue of an in) Tj ET Q q 0 0 0 rg BT 342.75 588.00 Td (v) Tj ET Q q 0 0 0 rg BT 347.16 588.00 Td (es) Tj ET Q q 0 0 0 rg BT 355.94 588.00 Td (tmen) Tj ET Q q 0 0 0 rg BT 377.41 588.00 Td (t pr) Tj ET Q q 0 0 0 rg BT 391.60 588.00 Td (operty a) Tj ET Q q 0 0 0 rg BT 425.43 588.00 Td (t the end of each r) Tj ET Q q 0 0 0 rg BT 500.07 588.00 Td (eporting ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 576.00 Td (period:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 564.00 Td (1. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 564.00 Td (Ex) Tj ET Q q 0 0 0 rg BT 72.24 564.00 Td (t) Tj ET Q q 0 0 0 rg BT 75.49 564.00 Td (ernal appr) Tj ET Q q 0 0 0 rg BT 117.13 564.00 Td (aisals ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 141.38 564.00 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 148.62 564.00 Td (b) Tj ET Q q 0 0 0 rg BT 153.83 564.00 Td (y an independen) Tj ET Q q 0 0 0 rg BT 221.57 564.00 Td (t na) Tj ET Q q 0 0 0 rg BT 237.13 564.00 Td (tional appr) Tj ET Q q 0 0 0 rg BT 281.23 564.00 Td (aisal firm, in acc) Tj ET Q q 0 0 0 rg BT 346.12 564.00 Td (or) Tj ET Q q 0 0 0 rg BT 354.74 564.00 Td (dance with pr) Tj ET Q q 0 0 0 rg BT 410.39 564.00 Td (of) Tj ET Q q 0 0 0 rg BT 418.47 564.00 Td (essional appr) Tj ET Q q 0 0 0 rg BT 472.01 564.00 Td (aisal s) Tj ET Q q 0 0 0 rg BT 496.15 564.00 Td (t) Tj ET Q q 0 0 0 rg BT 499.38 564.00 Td (andar) Tj ET Q q 0 0 0 rg BT 522.82 564.00 Td (ds ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 552.00 Td (and IFR) Tj ET Q q 0 0 0 rg BT 92.97 552.00 Td (S. On an annual basis, the Compan) Tj ET Q q 0 0 0 rg BT 233.15 552.00 Td (y has an annual minimum thr) Tj ET Q q 0 0 0 rg BT 351.64 552.00 Td (eshold of appr) Tj ET Q q 0 0 0 rg BT 410.07 552.00 Td (o) Tj ET Q q 0 0 0 rg BT 415.15 552.00 Td (xima) Tj ET Q q 0 0 0 rg BT 434.46 552.00 Td (t) Tj ET Q q 0 0 0 rg BT 437.70 552.00 Td (ely 25% \(as measur) Tj ET Q q 0 0 0 rg BT 515.57 552.00 Td (ed b) Tj ET Q q 0 0 0 rg BT 533.27 552.00 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 540.00 Td (f) Tj ET Q q 0 0 0 rg BT 65.86 540.00 Td (air v) Tj ET Q q 0 0 0 rg BT 83.06 540.00 Td (alue\) of the portf) Tj ET Q q 0 0 0 rg BT 152.30 540.00 Td (olio r) Tj ET Q q 0 0 0 rg BT 173.05 540.00 Td (equiring e) Tj ET Q q 0 0 0 rg BT 213.65 540.00 Td (x) Tj ET Q q 0 0 0 rg BT 218.01 540.00 Td (t) Tj ET Q q 0 0 0 rg BT 221.26 540.00 Td (ernal appr) Tj ET Q q 0 0 0 rg BT 262.90 540.00 Td (aisal.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 528.00 Td (2. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 528.00 Td (In) Tj ET Q q 0 0 0 rg BT 70.68 528.00 Td (t) Tj ET Q q 0 0 0 rg BT 73.92 528.00 Td (ernal appr) Tj ET Q q 0 0 0 rg BT 115.56 528.00 Td (aisals ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 139.82 528.00 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 144.80 528.00 Td ( b) Tj ET Q q 0 0 0 rg BT 152.26 528.00 Td (y s) Tj ET Q q 0 0 0 rg BT 162.85 528.00 Td (t) Tj ET Q q 0 0 0 rg BT 166.08 528.00 Td (a) Tj ET Q q 0 0 0 rg BT 170.81 528.00 Td (f) Tj ET Q q 0 0 0 rg BT 173.76 528.00 Td (f appr) Tj ET Q q 0 0 0 rg BT 197.65 528.00 Td (aiser) Tj ET Q q 0 0 0 rg BT 216.94 528.00 Td (s emplo) Tj ET Q q 0 0 0 rg BT 248.84 528.00 Td (y) Tj ET Q q 0 0 0 rg BT 253.25 528.00 Td (ed b) Tj ET Q q 0 0 0 rg BT 270.94 528.00 Td (y the Compan) Tj ET Q q 0 0 0 rg BT 327.28 528.00 Td (y) Tj ET Q q 0 0 0 rg BT 331.09 528.00 Td (, in acc) Tj ET Q q 0 0 0 rg BT 358.82 528.00 Td (or) Tj ET Q q 0 0 0 rg BT 367.44 528.00 Td (dance with pr) Tj ET Q q 0 0 0 rg BT 423.09 528.00 Td (of) Tj ET Q q 0 0 0 rg BT 431.17 528.00 Td (essional appr) Tj ET Q q 0 0 0 rg BT 484.71 528.00 Td (aisal s) Tj ET Q q 0 0 0 rg BT 508.85 528.00 Td (t) Tj ET Q q 0 0 0 rg BT 512.08 528.00 Td (andar) Tj ET Q q 0 0 0 rg BT 535.52 528.00 Td (ds ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 516.00 Td (and IFR) Tj ET Q q 0 0 0 rg BT 92.97 516.00 Td (S.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 504.00 Td (3. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 504.00 Td (V) Tj ET Q q 0 0 0 rg BT 68.12 504.00 Td (alue upda) Tj ET Q q 0 0 0 rg BT 108.15 504.00 Td (t) Tj ET Q q 0 0 0 rg BT 111.39 504.00 Td (es ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 122.54 504.00 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 127.52 504.00 Td ( primarily c) Tj ET Q q 0 0 0 rg BT 172.60 504.00 Td (onsis) Tj ET Q q 0 0 0 rg BT 193.14 504.00 Td (ting of Manag) Tj ET Q q 0 0 0 rg BT 249.60 504.00 Td (emen) Tj ET Q q 0 0 0 rg BT 272.70 504.00 Td (t's r) Tj ET Q q 0 0 0 rg BT 287.78 504.00 Td (e) Tj ET Q q 0 0 0 rg BT 292.71 504.00 Td (vie) Tj ET Q q 0 0 0 rg BT 304.45 504.00 Td (w of the k) Tj ET Q q 0 0 0 rg BT 344.50 504.00 Td (e) Tj ET Q q 0 0 0 rg BT 349.42 504.00 Td (y assump) Tj ET Q q 0 0 0 rg BT 387.27 504.00 Td (tions fr) Tj ET Q q 0 0 0 rg BT 415.99 504.00 Td (om pr) Tj ET Q q 0 0 0 rg BT 440.12 504.00 Td (e) Tj ET Q q 0 0 0 rg BT 445.05 504.00 Td (vious appr) Tj ET Q q 0 0 0 rg BT 487.14 504.00 Td (aisals and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 492.00 Td (upda) Tj ET Q q 0 0 0 rg BT 83.46 492.00 Td (ting the v) Tj ET Q q 0 0 0 rg BT 121.54 492.00 Td (alue f) Tj ET Q q 0 0 0 rg BT 143.95 492.00 Td (or chang) Tj ET Q q 0 0 0 rg BT 179.12 492.00 Td (es in the pr) Tj ET Q q 0 0 0 rg BT 224.50 492.00 Td (operty c) Tj ET Q q 0 0 0 rg BT 257.77 492.00 Td (ash flo) Tj ET Q q 0 0 0 rg BT 284.57 492.00 Td (w) Tj ET Q q 0 0 0 rg BT 290.86 492.00 Td (, ph) Tj ET Q q 0 0 0 rg BT 305.93 492.00 Td (y) Tj ET Q q 0 0 0 rg BT 310.37 492.00 Td (sic) Tj ET Q q 0 0 0 rg BT 320.72 492.00 Td (al c) Tj ET Q q 0 0 0 rg BT 334.21 492.00 Td (ondition and chang) Tj ET Q q 0 0 0 rg BT 412.43 492.00 Td (es in mark) Tj ET Q q 0 0 0 rg BT 453.87 492.00 Td (e) Tj ET Q q 0 0 0 rg BT 458.80 492.00 Td (t c) Tj ET Q q 0 0 0 rg BT 468.55 492.00 Td (onditions.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 474.00 Td (The selection of the appr) Tj ET Q q 0 0 0 rg BT 155.23 474.00 Td (oach f) Tj ET Q q 0 0 0 rg BT 179.88 474.00 Td (or each pr) Tj ET Q q 0 0 0 rg BT 220.99 474.00 Td (operty is made based upon the f) Tj ET Q q 0 0 0 rg BT 352.27 474.00 Td (ollo) Tj ET Q q 0 0 0 rg BT 367.37 474.00 Td (wing crit) Tj ET Q q 0 0 0 rg BT 402.29 474.00 Td (eria:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 462.00 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 462.00 Td (Pr) Tj ET Q q 0 0 0 rg BT 71.49 462.00 Td (operty type ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 120.98 462.00 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 125.96 462.00 Td ( this includes an e) Tj ET Q q 0 0 0 rg BT 198.25 462.00 Td (v) Tj ET Q q 0 0 0 rg BT 202.62 462.00 Td (alua) Tj ET Q q 0 0 0 rg BT 219.66 462.00 Td (tion of a pr) Tj ET Q q 0 0 0 rg BT 264.31 462.00 Td (operty's c) Tj ET Q q 0 0 0 rg BT 303.70 462.00 Td (omple) Tj ET Q q 0 0 0 rg BT 329.33 462.00 Td (xity) Tj ET Q q 0 0 0 rg BT 343.12 462.00 Td (, s) Tj ET Q q 0 0 0 rg BT 351.68 462.00 Td (t) Tj ET Q q 0 0 0 rg BT 354.90 462.00 Td (ag) Tj ET Q q 0 0 0 rg BT 364.32 462.00 Td (e of de) Tj ET Q q 0 0 0 rg BT 392.32 462.00 Td (v) Tj ET Q q 0 0 0 rg BT 396.74 462.00 Td (elopmen) Tj ET Q q 0 0 0 rg BT 432.66 462.00 Td (t, time since acquisition, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 450.00 Td (other specific opportunities or risk) Tj ET Q q 0 0 0 rg BT 202.75 450.00 Td (s associa) Tj ET Q q 0 0 0 rg BT 238.03 450.00 Td (t) Tj ET Q q 0 0 0 rg BT 241.27 450.00 Td (ed with the pr) Tj ET Q q 0 0 0 rg BT 298.49 450.00 Td (operty) Tj ET Q q 0 0 0 rg BT 324.69 450.00 Td (. St) Tj ET Q q 0 0 0 rg BT 337.30 450.00 Td (able pr) Tj ET Q q 0 0 0 rg BT 365.46 450.00 Td (operties and r) Tj ET Q q 0 0 0 rg BT 422.15 450.00 Td (ecen) Tj ET Q q 0 0 0 rg BT 441.49 450.00 Td (tly acquir) Tj ET Q q 0 0 0 rg BT 479.10 450.00 Td (ed pr) Tj ET Q q 0 0 0 rg BT 500.17 450.00 Td (operties ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 438.00 Td (will g) Tj ET Q q 0 0 0 rg BT 83.92 438.00 Td (ener) Tj ET Q q 0 0 0 rg BT 102.40 438.00 Td (ally r) Tj ET Q q 0 0 0 rg BT 121.93 438.00 Td (eceiv) Tj ET Q q 0 0 0 rg BT 142.82 438.00 Td (e a v) Tj ET Q q 0 0 0 rg BT 161.48 438.00 Td (alue upda) Tj ET Q q 0 0 0 rg BT 201.51 438.00 Td (t) Tj ET Q q 0 0 0 rg BT 204.75 438.00 Td (e, while pr) Tj ET Q q 0 0 0 rg BT 247.29 438.00 Td (operties under de) Tj ET Q q 0 0 0 rg BT 319.74 438.00 Td (v) Tj ET Q q 0 0 0 rg BT 324.16 438.00 Td (elopmen) Tj ET Q q 0 0 0 rg BT 360.08 438.00 Td (t will typic) Tj ET Q q 0 0 0 rg BT 401.55 438.00 Td (ally be v) Tj ET Q q 0 0 0 rg BT 434.58 438.00 Td (alued using in) Tj ET Q q 0 0 0 rg BT 490.55 438.00 Td (t) Tj ET Q q 0 0 0 rg BT 493.79 438.00 Td (ernal or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 426.00 Td (e) Tj ET Q q 0 0 0 rg BT 67.82 426.00 Td (x) Tj ET Q q 0 0 0 rg BT 72.18 426.00 Td (t) Tj ET Q q 0 0 0 rg BT 75.43 426.00 Td (ernal appr) Tj ET Q q 0 0 0 rg BT 117.07 426.00 Td (aisals un) Tj ET Q q 0 0 0 rg BT 151.74 426.00 Td (til c) Tj ET Q q 0 0 0 rg BT 166.08 426.00 Td (omple) Tj ET Q q 0 0 0 rg BT 191.81 426.00 Td (tion.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 414.00 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 414.00 Td (Mark) Tj ET Q q 0 0 0 rg BT 84.05 414.00 Td (e) Tj ET Q q 0 0 0 rg BT 88.97 414.00 Td (t risk) Tj ET Q q 0 0 0 rg BT 108.73 414.00 Td (s ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 114.90 414.00 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 122.14 414.00 Td (specific risk) Tj ET Q q 0 0 0 rg BT 168.79 414.00 Td (s in a r) Tj ET Q q 0 0 0 rg BT 195.17 414.00 Td (egion or a tr) Tj ET Q q 0 0 0 rg BT 244.64 414.00 Td (ade ar) Tj ET Q q 0 0 0 rg BT 270.07 414.00 Td (ea ma) Tj ET Q q 0 0 0 rg BT 294.68 414.00 Td (y w) Tj ET Q q 0 0 0 rg BT 308.51 414.00 Td (arr) Tj ET Q q 0 0 0 rg BT 320.07 414.00 Td (an) Tj ET Q q 0 0 0 rg BT 330.02 414.00 Td (t a full e) Tj ET Q q 0 0 0 rg BT 362.66 414.00 Td (x) Tj ET Q q 0 0 0 rg BT 367.02 414.00 Td (t) Tj ET Q q 0 0 0 rg BT 370.26 414.00 Td (ernal or in) Tj ET Q q 0 0 0 rg BT 411.80 414.00 Td (t) Tj ET Q q 0 0 0 rg BT 415.04 414.00 Td (ernal appr) Tj ET Q q 0 0 0 rg BT 456.68 414.00 Td (aisal f) Tj ET Q q 0 0 0 rg BT 479.87 414.00 Td (or cert) Tj ET Q q 0 0 0 rg BT 506.80 414.00 Td (ain ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 402.00 Td (pr) Tj ET Q q 0 0 0 rg BT 71.58 402.00 Td (operties.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 390.00 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 390.00 Td (Chang) Tj ET Q q 0 0 0 rg BT 88.25 390.00 Td (es in o) Tj ET Q q 0 0 0 rg BT 114.44 390.00 Td (v) Tj ET Q q 0 0 0 rg BT 118.86 390.00 Td (er) Tj ET Q q 0 0 0 rg BT 127.12 390.00 Td (all ec) Tj ET Q q 0 0 0 rg BT 147.88 390.00 Td (onomic c) Tj ET Q q 0 0 0 rg BT 184.60 390.00 Td (onditions ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 225.02 390.00 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 230.00 390.00 Td ( signific) Tj ET Q q 0 0 0 rg BT 260.21 390.00 Td (an) Tj ET Q q 0 0 0 rg BT 270.16 390.00 Td (t chang) Tj ET Q q 0 0 0 rg BT 299.92 390.00 Td (es in o) Tj ET Q q 0 0 0 rg BT 326.11 390.00 Td (v) Tj ET Q q 0 0 0 rg BT 330.53 390.00 Td (er) Tj ET Q q 0 0 0 rg BT 338.79 390.00 Td (all ec) Tj ET Q q 0 0 0 rg BT 359.55 390.00 Td (onomic c) Tj ET Q q 0 0 0 rg BT 396.27 390.00 Td (onditions ma) Tj ET Q q 0 0 0 rg BT 449.28 390.00 Td (y incr) Tj ET Q q 0 0 0 rg BT 471.20 390.00 Td (ease the number ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 378.00 Td (of e) Tj ET Q q 0 0 0 rg BT 78.41 378.00 Td (x) Tj ET Q q 0 0 0 rg BT 82.77 378.00 Td (t) Tj ET Q q 0 0 0 rg BT 86.01 378.00 Td (ernal or in) Tj ET Q q 0 0 0 rg BT 127.55 378.00 Td (t) Tj ET Q q 0 0 0 rg BT 130.79 378.00 Td (ernal appr) Tj ET Q q 0 0 0 rg BT 172.43 378.00 Td (aisals perf) Tj ET Q q 0 0 0 rg BT 213.24 378.00 Td (ormed.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 366.00 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 366.00 Td (Business needs ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 126.84 366.00 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 134.08 366.00 Td (financings or acquisitions and dispositions ma) Tj ET Q q 0 0 0 rg BT 319.46 366.00 Td (y r) Tj ET Q q 0 0 0 rg BT 329.61 366.00 Td (equir) Tj ET Q q 0 0 0 rg BT 350.74 366.00 Td (e an e) Tj ET Q q 0 0 0 rg BT 375.10 366.00 Td (x) Tj ET Q q 0 0 0 rg BT 379.46 366.00 Td (t) Tj ET Q q 0 0 0 rg BT 382.71 366.00 Td (ernal appr) Tj ET Q q 0 0 0 rg BT 424.35 366.00 Td (aisal.) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 346.80 Td (Shopping Cen) Tj ET Q q 0 0 0 rg BT 115.93 346.80 Td (tres V) Tj ET Q q 0 0 0 rg BT 141.81 346.80 Td (aluation Me) Tj ET Q q 0 0 0 rg BT 197.47 346.80 Td (thod) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 331.80 Td (Shopping cen) Tj ET Q q 0 0 0 rg BT 108.51 331.80 Td (tr) Tj ET Q q 0 0 0 rg BT 115.22 331.80 Td (es ar) Tj ET Q q 0 0 0 rg BT 134.51 331.80 Td (e appr) Tj ET Q q 0 0 0 rg BT 160.32 331.80 Td (aised primarily using s) Tj ET Q q 0 0 0 rg BT 249.97 331.80 Td (t) Tj ET Q q 0 0 0 rg BT 253.19 331.80 Td (abiliz) Tj ET Q q 0 0 0 rg BT 273.85 331.80 Td (ed c) Tj ET Q q 0 0 0 rg BT 290.48 331.80 Td (ash flo) Tj ET Q q 0 0 0 rg BT 317.28 331.80 Td (w) Tj ET Q q 0 0 0 rg BT 324.34 331.80 Td (s. Ex) Tj ET Q q 0 0 0 rg BT 342.28 331.80 Td (t) Tj ET Q q 0 0 0 rg BT 345.52 331.80 Td (ernal and in) Tj ET Q q 0 0 0 rg BT 393.60 331.80 Td (t) Tj ET Q q 0 0 0 rg BT 396.84 331.80 Td (ernal appr) Tj ET Q q 0 0 0 rg BT 438.48 331.80 Td (aisals ar) Tj ET Q q 0 0 0 rg BT 470.88 331.80 Td (e c) Tj ET Q q 0 0 0 rg BT 482.26 331.80 Td (onduct) Tj ET Q q 0 0 0 rg BT 510.77 331.80 Td (ed using ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 319.80 Td (and placing r) Tj ET Q q 0 0 0 rg BT 106.00 319.80 Td (eliance on both the dir) Tj ET Q q 0 0 0 rg BT 197.99 319.80 Td (ect c) Tj ET Q q 0 0 0 rg BT 216.95 319.80 Td (apit) Tj ET Q q 0 0 0 rg BT 232.52 319.80 Td (aliz) Tj ET Q q 0 0 0 rg BT 245.68 319.80 Td (a) Tj ET Q q 0 0 0 rg BT 250.38 319.80 Td (tion me) Tj ET Q q 0 0 0 rg BT 281.72 319.80 Td (thod and the disc) Tj ET Q q 0 0 0 rg BT 352.12 319.80 Td (oun) Tj ET Q q 0 0 0 rg BT 367.81 319.80 Td (t) Tj ET Q q 0 0 0 rg BT 371.05 319.80 Td (ed c) Tj ET Q q 0 0 0 rg BT 387.69 319.80 Td (ash flo) Tj ET Q q 0 0 0 rg BT 414.48 319.80 Td (w me) Tj ET Q q 0 0 0 rg BT 436.80 319.80 Td (thod \(including the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 307.80 Td (es) Tj ET Q q 0 0 0 rg BT 62.77 307.80 Td (tima) Tj ET Q q 0 0 0 rg BT 81.10 307.80 Td (t) Tj ET Q q 0 0 0 rg BT 84.35 307.80 Td (ed pr) Tj ET Q q 0 0 0 rg BT 105.42 307.80 Td (oceeds fr) Tj ET Q q 0 0 0 rg BT 142.67 307.80 Td (om a pot) Tj ET Q q 0 0 0 rg BT 179.01 307.80 Td (en) Tj ET Q q 0 0 0 rg BT 189.15 307.80 Td (tial futur) Tj ET Q q 0 0 0 rg BT 224.41 307.80 Td (e disposition\). V) Tj ET Q q 0 0 0 rg BT 288.94 307.80 Td (alue upda) Tj ET Q q 0 0 0 rg BT 328.98 307.80 Td (t) Tj ET Q q 0 0 0 rg BT 332.22 307.80 Td (es ar) Tj ET Q q 0 0 0 rg BT 351.51 307.80 Td (e c) Tj ET Q q 0 0 0 rg BT 362.89 307.80 Td (alcula) Tj ET Q q 0 0 0 rg BT 386.45 307.80 Td (t) Tj ET Q q 0 0 0 rg BT 389.69 307.80 Td (ed using the dir) Tj ET Q q 0 0 0 rg BT 452.61 307.80 Td (ect c) Tj ET Q q 0 0 0 rg BT 471.57 307.80 Td (apit) Tj ET Q q 0 0 0 rg BT 487.13 307.80 Td (aliz) Tj ET Q q 0 0 0 rg BT 500.30 307.80 Td (a) Tj ET Q q 0 0 0 rg BT 505.00 307.80 Td (tion ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 295.80 Td (me) Tj ET Q q 0 0 0 rg BT 66.91 295.80 Td (thod.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 277.80 Td (Pr) Tj ET Q q 0 0 0 rg BT 62.49 277.80 Td (operties under) Tj ET Q q 0 0 0 rg BT 122.36 277.80 Td (g) Tj ET Q q 0 0 0 rg BT 127.00 277.80 Td (oing de) Tj ET Q q 0 0 0 rg BT 156.97 277.80 Td (v) Tj ET Q q 0 0 0 rg BT 161.39 277.80 Td (elopmen) Tj ET Q q 0 0 0 rg BT 197.31 277.80 Td (t, r) Tj ET Q q 0 0 0 rg BT 208.77 277.80 Td (ede) Tj ET Q q 0 0 0 rg BT 223.93 277.80 Td (v) Tj ET Q q 0 0 0 rg BT 228.35 277.80 Td (elopmen) Tj ET Q q 0 0 0 rg BT 264.27 277.80 Td (t or e) Tj ET Q q 0 0 0 rg BT 285.72 277.80 Td (xpansion ar) Tj ET Q q 0 0 0 rg BT 332.49 277.80 Td (e v) Tj ET Q q 0 0 0 rg BT 344.10 277.80 Td (alued using the s) Tj ET Q q 0 0 0 rg BT 412.25 277.80 Td (t) Tj ET Q q 0 0 0 rg BT 415.47 277.80 Td (abiliz) Tj ET Q q 0 0 0 rg BT 436.13 277.80 Td (ed c) Tj ET Q q 0 0 0 rg BT 452.76 277.80 Td (ash flo) Tj ET Q q 0 0 0 rg BT 479.56 277.80 Td (w) Tj ET Q q 0 0 0 rg BT 486.62 277.80 Td (s e) Tj ET Q q 0 0 0 rg BT 497.62 277.80 Td (xpect) Tj ET Q q 0 0 0 rg BT 519.65 277.80 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 265.80 Td (upon c) Tj ET Q q 0 0 0 rg BT 81.44 265.80 Td (omple) Tj ET Q q 0 0 0 rg BT 107.17 265.80 Td (tion, with a deduction f) Tj ET Q q 0 0 0 rg BT 201.70 265.80 Td (or c) Tj ET Q q 0 0 0 rg BT 216.87 265.80 Td (os) Tj ET Q q 0 0 0 rg BT 225.94 265.80 Td (ts t) Tj ET Q q 0 0 0 rg BT 238.71 265.80 Td (o c) Tj ET Q q 0 0 0 rg BT 250.39 265.80 Td (omple) Tj ET Q q 0 0 0 rg BT 276.12 265.80 Td (t) Tj ET Q q 0 0 0 rg BT 279.37 265.80 Td (e the pr) Tj ET Q q 0 0 0 rg BT 311.02 265.80 Td (oject; c) Tj ET Q q 0 0 0 rg BT 340.32 265.80 Td (apit) Tj ET Q q 0 0 0 rg BT 355.89 265.80 Td (aliz) Tj ET Q q 0 0 0 rg BT 369.05 265.80 Td (a) Tj ET Q q 0 0 0 rg BT 373.75 265.80 Td (tion r) Tj ET Q q 0 0 0 rg BT 395.46 265.80 Td (a) Tj ET Q q 0 0 0 rg BT 400.16 265.80 Td (t) Tj ET Q q 0 0 0 rg BT 403.40 265.80 Td (es ar) Tj ET Q q 0 0 0 rg BT 422.70 265.80 Td (e adjus) Tj ET Q q 0 0 0 rg BT 451.42 265.80 Td (t) Tj ET Q q 0 0 0 rg BT 454.66 265.80 Td (ed t) Tj ET Q q 0 0 0 rg BT 470.41 265.80 Td (o r) Tj ET Q q 0 0 0 rg BT 481.29 265.80 Td (e) Tj ET Q q 0 0 0 rg BT 486.18 265.80 Td (flect lease-up ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 253.80 Td (assump) Tj ET Q q 0 0 0 rg BT 85.06 253.80 Td (tions and c) Tj ET Q q 0 0 0 rg BT 129.11 253.80 Td (ons) Tj ET Q q 0 0 0 rg BT 143.44 253.80 Td (truction risk, when appr) Tj ET Q q 0 0 0 rg BT 240.70 253.80 Td (opria) Tj ET Q q 0 0 0 rg BT 261.71 253.80 Td (t) Tj ET Q q 0 0 0 rg BT 264.95 253.80 Td (e. Adjacen) Tj ET Q q 0 0 0 rg BT 307.30 253.80 Td (t land par) Tj ET Q q 0 0 0 rg BT 346.14 253.80 Td (cels t) Tj ET Q q 0 0 0 rg BT 367.07 253.80 Td (o other pr) Tj ET Q q 0 0 0 rg BT 407.78 253.80 Td (operties and held f) Tj ET Q q 0 0 0 rg BT 484.00 253.80 Td (or futur) Tj ET Q q 0 0 0 rg BT 515.28 253.80 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 241.80 Td (de) Tj ET Q q 0 0 0 rg BT 64.18 241.80 Td (v) Tj ET Q q 0 0 0 rg BT 68.60 241.80 Td (elopmen) Tj ET Q q 0 0 0 rg BT 104.52 241.80 Td (t ar) Tj ET Q q 0 0 0 rg BT 118.28 241.80 Td (e v) Tj ET Q q 0 0 0 rg BT 129.88 241.80 Td (alued based on c) Tj ET Q q 0 0 0 rg BT 198.09 241.80 Td (ompar) Tj ET Q q 0 0 0 rg BT 224.68 241.80 Td (able sales of c) Tj ET Q q 0 0 0 rg BT 281.13 241.80 Td (ommer) Tj ET Q q 0 0 0 rg BT 310.69 241.80 Td (cial land. F) Tj ET Q q 0 0 0 rg BT 353.27 241.80 Td (air v) Tj ET Q q 0 0 0 rg BT 370.47 241.80 Td (alue of pr) Tj ET Q q 0 0 0 rg BT 409.21 241.80 Td (operties under de) Tj ET Q q 0 0 0 rg BT 481.66 241.80 Td (v) Tj ET Q q 0 0 0 rg BT 486.08 241.80 Td (elopmen) Tj ET Q q 0 0 0 rg BT 522.00 241.80 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 229.80 Td (includes a deduction f) Tj ET Q q 0 0 0 rg BT 143.02 229.80 Td (or c) Tj ET Q q 0 0 0 rg BT 158.18 229.80 Td (os) Tj ET Q q 0 0 0 rg BT 167.26 229.80 Td (ts t) Tj ET Q q 0 0 0 rg BT 180.03 229.80 Td (o c) Tj ET Q q 0 0 0 rg BT 191.71 229.80 Td (omple) Tj ET Q q 0 0 0 rg BT 217.44 229.80 Td (t) Tj ET Q q 0 0 0 rg BT 220.68 229.80 Td (e of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 238.51 229.80 Td ($267.6 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 296.33 229.80 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 211.80 Td (The v) Tj ET Q q 0 0 0 rg BT 75.73 211.80 Td (alues of the Compan) Tj ET Q q 0 0 0 rg BT 159.35 211.80 Td (y) Tj ET Q q 0 0 0 rg BT 164.18 211.80 Td () Tj ET Q q 0 0 0 rg BT 166.07 211.80 Td (s pr) Tj ET Q q 0 0 0 rg BT 180.82 211.80 Td (oportiona) Tj ET Q q 0 0 0 rg BT 220.97 211.80 Td (t) Tj ET Q q 0 0 0 rg BT 224.21 211.80 Td (e in) Tj ET Q q 0 0 0 rg BT 238.91 211.80 Td (t) Tj ET Q q 0 0 0 rg BT 242.15 211.80 Td (er) Tj ET Q q 0 0 0 rg BT 250.48 211.80 Td (es) Tj ET Q q 0 0 0 rg BT 259.25 211.80 Td (t in its shopping cen) Tj ET Q q 0 0 0 rg BT 340.32 211.80 Td (tr) Tj ET Q q 0 0 0 rg BT 347.02 211.80 Td (es and associa) Tj ET Q q 0 0 0 rg BT 404.83 211.80 Td (t) Tj ET Q q 0 0 0 rg BT 408.08 211.80 Td (ed c) Tj ET Q q 0 0 0 rg BT 424.71 211.80 Td (apit) Tj ET Q q 0 0 0 rg BT 440.28 211.80 Td (aliz) Tj ET Q q 0 0 0 rg BT 453.44 211.80 Td (a) Tj ET Q q 0 0 0 rg BT 458.14 211.80 Td (tion r) Tj ET Q q 0 0 0 rg BT 479.85 211.80 Td (a) Tj ET Q q 0 0 0 rg BT 484.55 211.80 Td (t) Tj ET Q q 0 0 0 rg BT 487.79 211.80 Td (es b) Tj ET Q q 0 0 0 rg BT 504.15 211.80 Td (y r) Tj ET Q q 0 0 0 rg BT 514.29 211.80 Td (egion ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 199.80 Td (ar) Tj ET Q q 0 0 0 rg BT 62.14 199.80 Td (e as f) Tj ET Q q 0 0 0 rg BT 83.18 199.80 Td (ollo) Tj ET Q q 0 0 0 rg BT 98.28 199.80 Td (w) Tj ET Q q 0 0 0 rg BT 105.34 199.80 Td (s as a) Tj ET Q q 0 0 0 rg BT 127.17 199.80 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 132.78 199.80 Td (Mar) Tj ET Q q 0 0 0 rg BT 149.46 199.80 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 196.37 199.80 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 216.19 199.80 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 295.66 199.80 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 189.29999999999995 m 290.5 189.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 174.29999999999995 m 290.5 174.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 189.29999999999995 m 330.5 189.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 290.5 174.29999999999995 m 330.5 174.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 189.29999999999995 m 370.5 189.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 174.29999999999995 m 370.5 174.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 189.29999999999995 m 408.5 189.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370.5 174.29999999999995 m 408.5 174.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 189.29999999999995 m 463.5 189.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 189.29999999999995 m 506.5 189.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 463.5 174.29999999999995 m 506.5 174.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 189.29999999999995 m 558.5 189.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 174.29999999999995 m 558.5 174.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 174.29999999999995 m 370.5 174.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 161.29999999999995 m 370.5 161.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370.5 174.29999999999995 m 408.5 174.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370.5 161.29999999999995 m 408.5 161.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 174.29999999999995 m 463.5 174.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 161.29999999999995 m 463.5 161.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 463.5 135.29999999999995 m 506.5 135.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 135.29999999999995 m 558.5 135.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 135.29999999999995 m 290.5 135.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 290.5 135.29999999999995 m 330.5 135.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 135.29999999999995 m 370.5 135.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370.5 135.29999999999995 m 408.5 135.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 135.29999999999995 m 463.5 135.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 463.5 135.29999999999995 m 506.5 135.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 135.29999999999995 m 558.5 135.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 96.29999999999995 m 290.5 96.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 290.5 96.29999999999995 m 330.5 96.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 96.29999999999995 m 370.5 96.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370.5 96.29999999999995 m 408.5 96.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 96.29999999999995 m 463.5 96.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 463.5 96.29999999999995 m 506.5 96.29999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 96.29999999999995 m 558.5 96.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 81.29999999999995 m 290.5 81.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 81.29999999999995 m 330.5 81.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 81.29999999999995 m 370.5 81.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 81.29999999999995 m 408.5 81.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 81.29999999999995 m 463.5 81.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 81.29999999999995 m 506.5 81.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 81.29999999999995 m 558.5 81.29999999999995 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 179.05 Td (As at March 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.40 165.80 Td (Capitalization Rate) Tj ET Q BT /F4 7.00 Tf ET q 0 0 0 rg BT 57.00 139.55 Td (\(millions of dollars, except other data\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 295.60 146.55 Td (Number of) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 296.85 139.55 Td (Properties) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 339.00 146.55 Td (Weighted) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 343.60 139.55 Td (Average) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 382.65 139.55 Td (Median) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 442.05 139.55 Td (Range) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 474.50 139.55 Td (Fair Value) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 515.15 153.55 Td (F) Tj ET Q q 0 0 0 rg BT 518.17 153.55 Td (air V) Tj ET Q q 0 0 0 rg BT 531.17 153.55 Td (alue per ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 538.45 146.55 Td (sq. ft. ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.95 139.55 Td (\(in dollar) Tj ET Q q 0 0 0 rg BT 544.01 139.55 Td (s\) ) Tj ET Q BT /F2 6.00 Tf ET BT /F2 3.90 Tf ET q 0 0 0 rg BT 550.56 142.41 Td (\(1\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 126.05 Td (Central Region) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 318.00 126.05 Td (59) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 347.30 126.05 Td (5.62) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 363.40 126.05 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 385.30 126.05 Td (5.75) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 401.40 126.05 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 411.90 126.05 Td (4.75%-8.75%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.00 126.05 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.55 126.05 Td (3,262) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 509.00 126.05 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 541.45 126.05 Td (364) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 113.05 Td (Eastern Region) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 318.00 113.05 Td (51) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 347.30 113.05 Td (6.14) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 363.40 113.05 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 385.30 113.05 Td (6.00) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 401.40 113.05 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 411.90 113.05 Td (5.00%-7.50%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.55 113.05 Td (1,797) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 541.45 113.05 Td (226) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 100.05 Td (Western Region) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 318.00 100.05 Td (47) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 347.30 100.05 Td (5.61) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 363.40 100.05 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 385.30 100.05 Td (5.75) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 401.40 100.05 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 411.90 100.05 Td (4.75%-7.25%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.55 100.05 Td (2,588) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 541.45 100.05 Td (353) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 86.05 Td (Total or Weighted Average) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 313.45 86.05 Td (157) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 347.30 86.05 Td (5.74) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 363.40 86.05 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 385.30 86.05 Td (5.80) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 401.40 86.05 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 411.90 86.05 Td (4.75%-8.75%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.00 86.05 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.55 86.05 Td (7,647) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 509.00 86.05 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 541.45 86.05 Td (315) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (19) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 701.5 m 294.5 701.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 686.5 m 294.5 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 701.5 m 331.5 701.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 294.5 686.5 m 331.5 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 701.5 m 370.5 701.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 331.5 686.5 m 370.5 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 701.5 m 407.5 701.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370.5 686.5 m 407.5 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 701.5 m 462.5 701.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 407.5 686.5 m 462.5 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 701.5 m 505.5 701.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 462.5 686.5 m 505.5 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 701.5 m 558.5 701.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 686.5 m 558.5 686.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 331.5 673.5 m 370.5 673.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370.5 673.5 m 407.5 673.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 407.5 673.5 m 462.5 673.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 647.5 m 294.5 647.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 462.5 647.5 m 505.5 647.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 647.5 m 558.5 647.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 647.5 m 294.5 647.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 294.5 647.5 m 331.5 647.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 331.5 647.5 m 370.5 647.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370.5 647.5 m 407.5 647.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 407.5 647.5 m 462.5 647.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 462.5 647.5 m 505.5 647.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 647.5 m 558.5 647.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 608.5 m 294.5 608.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 294.5 608.5 m 331.5 608.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 608.5 m 558.5 608.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 593.5 m 294.5 593.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 294.5 608.5 m 331.5 608.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 593.5 m 331.5 593.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 331.5 608.5 m 370.5 608.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 593.5 m 370.5 593.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370.5 608.5 m 407.5 608.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 593.5 m 407.5 593.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 407.5 608.5 m 462.5 608.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 593.5 m 462.5 593.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 462.5 608.5 m 505.5 608.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 593.5 m 505.5 593.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 593.5 m 558.5 593.5 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 691.25 Td (As at December 31, 2014) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 366.25 678.00 Td (Capitalization Rate) Tj ET Q BT /F4 7.00 Tf ET q 0 0 0 rg BT 57.00 651.75 Td (\(millions of dollars, except other data\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 297.20 658.75 Td (Number of) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 298.55 651.75 Td (Properties) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 339.60 658.75 Td (Weighted) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 344.10 651.75 Td (Average) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 382.20 651.75 Td (Median) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 441.40 651.75 Td (Range) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 474.25 651.75 Td (Fair Value) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 516.10 665.75 Td (F) Tj ET Q q 0 0 0 rg BT 519.13 665.75 Td (air V) Tj ET Q q 0 0 0 rg BT 531.69 665.75 Td (alue per ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 538.95 658.75 Td (sq. ft.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 518.95 651.75 Td (\(in dollar) Tj ET Q q 0 0 0 rg BT 544.20 651.75 Td (s\) ) Tj ET Q BT /F3 6.00 Tf ET BT /F3 3.90 Tf ET q 0 0 0 rg BT 550.64 654.61 Td (\(1\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 638.25 Td (Central Region) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 319.10 638.25 Td (59) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 347.55 638.25 Td (5.63) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.55 638.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.55 638.25 Td (5.75) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 400.55 638.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.45 638.25 Td (4.75%-8.22%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 465.00 638.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.75 638.25 Td (3,222) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.00 638.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 638.25 Td (361) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 625.25 Td (Eastern Region) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 319.10 625.25 Td (52) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 347.55 625.25 Td (6.18) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.55 625.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.55 625.25 Td (6.00) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 400.55 625.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.45 625.25 Td (5.00%-7.50%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.75 625.25 Td (1,791) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 625.25 Td (221) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 612.25 Td (Western Region) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 319.10 612.25 Td (47) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 347.55 612.25 Td (5.74) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.55 612.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.55 612.25 Td (5.75) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 400.55 612.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.45 612.25 Td (5.00%-7.00%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.75 612.25 Td (2,538) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 612.25 Td (348) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 598.25 Td (Total or Weighted Average) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 314.55 598.25 Td (158) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 347.55 598.25 Td (5.79) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.55 598.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.55 598.25 Td (6.00) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 400.55 598.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.45 598.25 Td (4.75%-8.22%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 465.00 598.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.75 598.25 Td (7,551) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.00 598.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 598.25 Td (310) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 587.34 Td (\(1\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 59.06 584.00 Td ( Calcula) Tj ET Q q 0 0 0 rg BT 80.87 584.00 Td (t) Tj ET Q q 0 0 0 rg BT 83.14 584.00 Td (ed using r) Tj ET Q q 0 0 0 rg BT 110.81 584.00 Td (egional f) Tj ET Q q 0 0 0 rg BT 135.10 584.00 Td (air v) Tj ET Q q 0 0 0 rg BT 147.15 584.00 Td (alue divided b) Tj ET Q q 0 0 0 rg BT 186.96 584.00 Td (y r) Tj ET Q q 0 0 0 rg BT 194.06 584.00 Td (egional GLA) Tj ET Q q 0 0 0 rg BT 227.81 584.00 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 563.00 Td (The sensitivity of the f) Tj ET Q q 0 0 0 rg BT 143.58 563.00 Td (air v) Tj ET Q q 0 0 0 rg BT 160.79 563.00 Td (alues of shopping cen) Tj ET Q q 0 0 0 rg BT 248.69 563.00 Td (tr) Tj ET Q q 0 0 0 rg BT 255.39 563.00 Td (es t) Tj ET Q q 0 0 0 rg BT 269.79 563.00 Td (o c) Tj ET Q q 0 0 0 rg BT 281.47 563.00 Td (apit) Tj ET Q q 0 0 0 rg BT 297.04 563.00 Td (aliz) Tj ET Q q 0 0 0 rg BT 310.20 563.00 Td (a) Tj ET Q q 0 0 0 rg BT 314.90 563.00 Td (tion r) Tj ET Q q 0 0 0 rg BT 336.61 563.00 Td (a) Tj ET Q q 0 0 0 rg BT 341.31 563.00 Td (t) Tj ET Q q 0 0 0 rg BT 344.55 563.00 Td (es as a) Tj ET Q q 0 0 0 rg BT 371.36 563.00 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 376.97 563.00 Td (Mar) Tj ET Q q 0 0 0 rg BT 393.65 563.00 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 440.56 563.00 Td ( is se) Tj ET Q q 0 0 0 rg BT 460.12 563.00 Td (t out in the t) Tj ET Q q 0 0 0 rg BT 510.74 563.00 Td (able ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 551.00 Td (belo) Tj ET Q q 0 0 0 rg BT 71.76 551.00 Td (w:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 55 540.5 m 404 540.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 55 525.5 m 404 525.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 540.5 m 508 540.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 540.5 m 556 540.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 55 525.5 m 404 525.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 55 501.5 m 404 501.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404 525.5 m 508 525.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404 501.5 m 508 501.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 508 525.5 m 556 525.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 508 501.5 m 556 501.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 55 501.5 m 404 501.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404 501.5 m 508 501.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 508 501.5 m 556 501.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 55 421.5 m 404 421.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 421.5 m 508 421.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 421.5 m 556 421.5 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.50 530.25 Td (As at March 31, 2015) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 482.85 530.25 Td (\(millions of dollars\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.50 506.25 Td (\(Decrease\) Increase in capitalization rate) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 437.35 515.25 Td (Resulting increase \(decrease\) in) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 458.90 506.25 Td (value of shopping centres) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.50 491.25 Td (\(0.75\)%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.50 492.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.25 492.25 Td (1,041) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.50 478.25 Td (\(0.50\)%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.50 479.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 539.05 479.25 Td (661) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.50 465.25 Td (\(0.25\)%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.50 466.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 539.05 466.25 Td (316) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.50 452.25 Td (0.25%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.50 453.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.30 453.25 Td (\(289) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.75 453.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.50 439.25 Td (0.50%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.50 440.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.30 440.25 Td (\(556) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.75 440.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.50 426.25 Td (0.75%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.50 426.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.30 426.25 Td (\(801) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.75 426.25 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 404.00 Td (Additionally) Tj ET Q q 0 0 0 rg BT 101.95 404.00 Td (, a 1% incr) Tj ET Q q 0 0 0 rg BT 143.37 404.00 Td (ease or decr) Tj ET Q q 0 0 0 rg BT 193.12 404.00 Td (ease in SNOI w) Tj ET Q q 0 0 0 rg BT 253.35 404.00 Td (ould r) Tj ET Q q 0 0 0 rg BT 277.04 404.00 Td (esult in an incr) Tj ET Q q 0 0 0 rg BT 336.33 404.00 Td (ease or decr) Tj ET Q q 0 0 0 rg BT 386.08 404.00 Td (ease, r) Tj ET Q q 0 0 0 rg BT 412.84 404.00 Td (espectiv) Tj ET Q q 0 0 0 rg BT 446.25 404.00 Td (ely) Tj ET Q q 0 0 0 rg BT 457.33 404.00 Td (, in the f) Tj ET Q q 0 0 0 rg BT 490.59 404.00 Td (air v) Tj ET Q q 0 0 0 rg BT 507.79 404.00 Td (alue of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 392.00 Td (shopping cen) Tj ET Q q 0 0 0 rg BT 107.83 392.00 Td (tr) Tj ET Q q 0 0 0 rg BT 114.53 392.00 Td (es of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 136.27 392.00 Td ($70 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 181.43 392.00 Td (. A 1% incr) Tj ET Q q 0 0 0 rg BT 223.87 392.00 Td (ease in SNOI c) Tj ET Q q 0 0 0 rg BT 281.19 392.00 Td (oupled with a 0.25% decr) Tj ET Q q 0 0 0 rg BT 384.06 392.00 Td (ease in c) Tj ET Q q 0 0 0 rg BT 418.93 392.00 Td (apit) Tj ET Q q 0 0 0 rg BT 434.50 392.00 Td (aliz) Tj ET Q q 0 0 0 rg BT 447.66 392.00 Td (a) Tj ET Q q 0 0 0 rg BT 452.36 392.00 Td (tion r) Tj ET Q q 0 0 0 rg BT 474.07 392.00 Td (a) Tj ET Q q 0 0 0 rg BT 478.77 392.00 Td (t) Tj ET Q q 0 0 0 rg BT 482.01 392.00 Td (e w) Tj ET Q q 0 0 0 rg BT 496.30 392.00 Td (ould r) Tj ET Q q 0 0 0 rg BT 520.00 392.00 Td (esult ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 380.00 Td (in an incr) Tj ET Q q 0 0 0 rg BT 91.25 380.00 Td (ease in the f) Tj ET Q q 0 0 0 rg BT 140.67 380.00 Td (air v) Tj ET Q q 0 0 0 rg BT 157.87 380.00 Td (alue of shopping cen) Tj ET Q q 0 0 0 rg BT 241.86 380.00 Td (tr) Tj ET Q q 0 0 0 rg BT 248.56 380.00 Td (es of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 270.29 380.00 Td ($388 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 320.52 380.00 Td (, and a 1% decr) Tj ET Q q 0 0 0 rg BT 382.18 380.00 Td (ease in SNOI c) Tj ET Q q 0 0 0 rg BT 439.50 380.00 Td (oupled with a 0.25% ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 368.00 Td (incr) Tj ET Q q 0 0 0 rg BT 69.13 368.00 Td (ease in c) Tj ET Q q 0 0 0 rg BT 104.00 368.00 Td (apit) Tj ET Q q 0 0 0 rg BT 119.57 368.00 Td (aliz) Tj ET Q q 0 0 0 rg BT 132.73 368.00 Td (a) Tj ET Q q 0 0 0 rg BT 137.43 368.00 Td (tion r) Tj ET Q q 0 0 0 rg BT 159.14 368.00 Td (a) Tj ET Q q 0 0 0 rg BT 163.84 368.00 Td (t) Tj ET Q q 0 0 0 rg BT 167.08 368.00 Td (e w) Tj ET Q q 0 0 0 rg BT 181.37 368.00 Td (ould r) Tj ET Q q 0 0 0 rg BT 205.06 368.00 Td (esult in a decr) Tj ET Q q 0 0 0 rg BT 261.78 368.00 Td (ease in the f) Tj ET Q q 0 0 0 rg BT 311.20 368.00 Td (air v) Tj ET Q q 0 0 0 rg BT 328.40 368.00 Td (alue of shopping cen) Tj ET Q q 0 0 0 rg BT 412.39 368.00 Td (tr) Tj ET Q q 0 0 0 rg BT 419.10 368.00 Td (es of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 440.83 368.00 Td ($356 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 491.06 368.00 Td (.) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 348.80 Td (De) Tj ET Q q 0 0 0 rg BT 66.25 348.80 Td (velopmen) Tj ET Q q 0 0 0 rg BT 111.06 348.80 Td (t Land V) Tj ET Q q 0 0 0 rg BT 147.88 348.80 Td (aluation Me) Tj ET Q q 0 0 0 rg BT 203.54 348.80 Td (thod) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 333.80 Td (The primar) Tj ET Q q 0 0 0 rg BT 98.71 333.80 Td (y me) Tj ET Q q 0 0 0 rg BT 118.41 333.80 Td (thod of appr) Tj ET Q q 0 0 0 rg BT 168.97 333.80 Td (aisal f) Tj ET Q q 0 0 0 rg BT 192.15 333.80 Td (or de) Tj ET Q q 0 0 0 rg BT 213.35 333.80 Td (v) Tj ET Q q 0 0 0 rg BT 217.77 333.80 Td (elopmen) Tj ET Q q 0 0 0 rg BT 253.69 333.80 Td (t land is the c) Tj ET Q q 0 0 0 rg BT 307.61 333.80 Td (ompar) Tj ET Q q 0 0 0 rg BT 334.20 333.80 Td (able sales appr) Tj ET Q q 0 0 0 rg BT 394.54 333.80 Td (oach, which c) Tj ET Q q 0 0 0 rg BT 449.42 333.80 Td (onsider) Tj ET Q q 0 0 0 rg BT 479.70 333.80 Td (s r) Tj ET Q q 0 0 0 rg BT 489.23 333.80 Td (ecen) Tj ET Q q 0 0 0 rg BT 508.57 333.80 Td (t sales ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 321.80 Td (activity f) Tj ET Q q 0 0 0 rg BT 88.45 321.80 Td (or similar land par) Tj ET Q q 0 0 0 rg BT 162.03 321.80 Td (cels in the same or similar mark) Tj ET Q q 0 0 0 rg BT 290.11 321.80 Td (e) Tj ET Q q 0 0 0 rg BT 295.03 321.80 Td (ts t) Tj ET Q q 0 0 0 rg BT 307.80 321.80 Td (o es) Tj ET Q q 0 0 0 rg BT 324.11 321.80 Td (tima) Tj ET Q q 0 0 0 rg BT 342.44 321.80 Td (t) Tj ET Q q 0 0 0 rg BT 345.68 321.80 Td (e a v) Tj ET Q q 0 0 0 rg BT 364.34 321.80 Td (alue on either a per acr) Tj ET Q q 0 0 0 rg BT 458.70 321.80 Td (e basis or on a basis ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 309.80 Td (of per squar) Tj ET Q q 0 0 0 rg BT 103.13 309.80 Td (e f) Tj ET Q q 0 0 0 rg BT 113.20 309.80 Td (oot buildable. Such v) Tj ET Q q 0 0 0 rg BT 197.77 309.80 Td (alues ar) Tj ET Q q 0 0 0 rg BT 229.41 309.80 Td (e applied t) Tj ET Q q 0 0 0 rg BT 272.27 309.80 Td (o the Compan) Tj ET Q q 0 0 0 rg BT 329.35 309.80 Td (y) Tj ET Q q 0 0 0 rg BT 334.18 309.80 Td () Tj ET Q q 0 0 0 rg BT 336.07 309.80 Td (s pr) Tj ET Q q 0 0 0 rg BT 350.82 309.80 Td (operties a) Tj ET Q q 0 0 0 rg BT 391.33 309.80 Td (ft) Tj ET Q q 0 0 0 rg BT 397.62 309.80 Td (er adjus) Tj ET Q q 0 0 0 rg BT 429.83 309.80 Td (ting f) Tj ET Q q 0 0 0 rg BT 450.54 309.80 Td (or f) Tj ET Q q 0 0 0 rg BT 464.42 309.80 Td (act) Tj ET Q q 0 0 0 rg BT 476.69 309.80 Td (or) Tj ET Q q 0 0 0 rg BT 485.28 309.80 Td (s specific t) Tj ET Q q 0 0 0 rg BT 527.20 309.80 Td (o the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 297.80 Td (sit) Tj ET Q q 0 0 0 rg BT 63.45 297.80 Td (e, including its loc) Tj ET Q q 0 0 0 rg BT 135.81 297.80 Td (a) Tj ET Q q 0 0 0 rg BT 140.50 297.80 Td (tion, z) Tj ET Q q 0 0 0 rg BT 165.16 297.80 Td (oning) Tj ET Q q 0 0 0 rg BT 188.06 297.80 Td (, ser) Tj ET Q q 0 0 0 rg BT 205.28 297.80 Td (vicing and c) Tj ET Q q 0 0 0 rg BT 252.54 297.80 Td (on) Tj ET Q q 0 0 0 rg BT 263.01 297.80 Td (figur) Tj ET Q q 0 0 0 rg BT 281.60 297.80 Td (a) Tj ET Q q 0 0 0 rg BT 286.29 297.80 Td (tion.) Tj ET Q endstream endobj 43 0 obj <> endobj 44 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (20) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 693.00 Td (In) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 63.47 693.00 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 69.04 693.00 Td (es) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 79.73 693.00 Td (tmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 106.02 693.00 Td (t Pr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 123.40 693.00 Td (operties Shopping Cen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 243.88 693.00 Td (tr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 252.18 693.00 Td (es) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 678.00 Td (A c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 66.19 678.00 Td (on) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 76.63 678.00 Td (tinuity of the Compan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 165.34 678.00 Td (y) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 170.17 678.00 Td () Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 172.06 678.00 Td (s pr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 186.81 678.00 Td (oportiona) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 226.96 678.00 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 230.21 678.00 Td (e in) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 244.90 678.00 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 248.14 678.00 Td (er) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 256.47 678.00 Td (es) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 265.25 678.00 Td (t in in) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 288.05 678.00 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 292.47 678.00 Td (es) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 301.24 678.00 Td (tmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 322.72 678.00 Td (ts in its shopping cen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 407.69 678.00 Td (tr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 414.40 678.00 Td (e acquisitions, dispositions, ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 666.00 Td (de) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 64.18 666.00 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 68.60 666.00 Td (elopmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 104.52 666.00 Td (t and portf) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 147.90 666.00 Td (olio impr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 184.16 666.00 Td (o) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 189.39 666.00 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 193.80 666.00 Td (emen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 216.91 666.00 Td (t activities is summariz) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 308.69 666.00 Td (ed belo) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 338.94 666.00 Td (w:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 655.5 m 433.5 655.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 640.5 m 433.5 640.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 655.5 m 483.5 655.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 655.5 m 499.5 655.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 655.5 m 549.5 655.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 640.5 m 433.5 640.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 625.5 m 433.5 625.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 433.5 640.5 m 483.5 640.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 433.5 625.5 m 483.5 625.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 640.5 m 499.5 640.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 625.5 m 499.5 625.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 499.5 640.5 m 549.5 640.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 499.5 625.5 m 549.5 625.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 521.5 m 433.5 521.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 433.5 521.5 m 483.5 521.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 521.5 m 499.5 521.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 499.5 521.5 m 549.5 521.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 495.5 m 433.5 495.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 433.5 495.5 m 483.5 495.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 495.5 m 499.5 495.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 499.5 495.5 m 549.5 495.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 480.5 m 433.5 480.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 480.5 m 483.5 480.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 480.5 m 499.5 480.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 480.5 m 549.5 480.5 l s BT /F4 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 57.00 645.25 Td (Three months ended March 31) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 450.75 645.25 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 514.75 645.25 Td (2014) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 630.00 Td (\(millions of dollars\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 616.25 Td (Balance at beginning of period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 436.00 616.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 616.25 Td (7,474) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 502.00 616.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.75 616.25 Td (7,126) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 603.25 Td (Acquisitions) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 590.25 Td (Shopping centres and additional adjacent spaces) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.00 590.25 Td (25) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.10 590.25 Td (52) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 577.25 Td (Land parcels in close proximity to existing properties) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.00 577.25 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.65 577.25 Td (2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 564.25 Td (Development activities and portfolio improvements) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.00 564.25 Td (67) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.10 564.25 Td (37) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 551.25 Td (Increase \(decrease\) in value of investment properties, net) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 475.55 551.25 Td (2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.95 551.25 Td (\(5) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.25 551.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 538.25 Td (Dispositions) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.20 538.25 Td (\(22) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 538.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.95 538.25 Td (\(4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.25 538.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 525.25 Td (Other changes) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 475.55 525.25 Td (3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.65 525.25 Td (2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 513.25 Td (Balance at end of period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 436.00 512.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 512.25 Td (7,549) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 502.00 512.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.75 512.25 Td (7,210) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 499.25 Td (In) Tj ET Q q 0 0 0 rg BT 63.85 499.25 Td (v) Tj ET Q q 0 0 0 rg BT 67.82 499.25 Td (es) Tj ET Q q 0 0 0 rg BT 75.72 499.25 Td (tmen) Tj ET Q q 0 0 0 rg BT 95.05 499.25 Td (t in join) Tj ET Q q 0 0 0 rg BT 122.54 499.25 Td (t v) Tj ET Q q 0 0 0 rg BT 131.56 499.25 Td (en) Tj ET Q q 0 0 0 rg BT 140.69 499.25 Td (tur) Tj ET Q q 0 0 0 rg BT 151.45 499.25 Td (es shopping cen) Tj ET Q q 0 0 0 rg BT 216.44 499.25 Td (tr) Tj ET Q q 0 0 0 rg BT 222.48 499.25 Td (es ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 232.51 503.06 Td (\(1\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.00 499.25 Td (98) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.10 499.25 Td (49) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 485.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 64.64 485.25 Td (oportiona) Tj ET Q q 0 0 0 rg BT 100.78 485.25 Td (t) Tj ET Q q 0 0 0 rg BT 103.70 485.25 Td (e in) Tj ET Q q 0 0 0 rg BT 116.92 485.25 Td (t) Tj ET Q q 0 0 0 rg BT 119.84 485.25 Td (er) Tj ET Q q 0 0 0 rg BT 127.34 485.25 Td (es) Tj ET Q q 0 0 0 rg BT 135.24 485.25 Td (t end of period ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 191.70 489.06 Td (\(2\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 436.00 485.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 485.25 Td (7,647) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 502.00 485.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.75 485.25 Td (7,259) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 472.94 Td (\(1\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 469.60 Td (This c) Tj ET Q q 0 0 0 rg BT 78.92 469.60 Td (onsis) Tj ET Q q 0 0 0 rg BT 93.29 469.60 Td (ts of the Compan) Tj ET Q q 0 0 0 rg BT 142.05 469.60 Td (y's in) Tj ET Q q 0 0 0 rg BT 156.25 469.60 Td (v) Tj ET Q q 0 0 0 rg BT 159.34 469.60 Td (es) Tj ET Q q 0 0 0 rg BT 165.48 469.60 Td (tmen) Tj ET Q q 0 0 0 rg BT 180.52 469.60 Td (ts in Main and Main De) Tj ET Q q 0 0 0 rg BT 246.50 469.60 Td (v) Tj ET Q q 0 0 0 rg BT 249.60 469.60 Td (elopmen) Tj ET Q q 0 0 0 rg BT 274.74 469.60 Td (ts and Main and Main Urban R) Tj ET Q q 0 0 0 rg BT 361.30 469.60 Td (ealty) Tj ET Q q 0 0 0 rg BT 374.79 469.60 Td (. R) Tj ET Q q 0 0 0 rg BT 381.82 469.60 Td (e) Tj ET Q q 0 0 0 rg BT 385.24 469.60 Td (f) Tj ET Q q 0 0 0 rg BT 387.20 469.60 Td (er t) Tj ET Q q 0 0 0 rg BT 396.99 469.60 Td (o the ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 413.35 469.60 Td (Business and Oper) Tj ET Q q 0 0 0 rg BT 468.71 469.60 Td (a) Tj ET Q q 0 0 0 rg BT 472.00 469.60 Td (tions R) Tj ET Q q 0 0 0 rg BT 491.32 469.60 Td (e) Tj ET Q q 0 0 0 rg BT 494.76 469.60 Td (vie) Tj ET Q q 0 0 0 rg BT 502.98 469.60 Td (w Pr) Tj ET Q q 0 0 0 rg BT 520.58 469.60 Td (operties ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 461.25 Td (Under De) Tj ET Q q 0 0 0 rg BT 90.11 461.25 Td (v) Tj ET Q q 0 0 0 rg BT 93.20 461.25 Td (elopmen) Tj ET Q q 0 0 0 rg BT 118.35 461.25 Td (t Main and Main De) Tj ET Q q 0 0 0 rg BT 179.80 461.25 Td (v) Tj ET Q q 0 0 0 rg BT 182.89 461.25 Td (elopmen) Tj ET Q q 0 0 0 rg BT 208.04 461.25 Td (ts) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 216.05 461.25 Td ( section of this MD&A) Tj ET Q q 0 0 0 rg BT 278.23 461.25 Td (.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 456.14 Td (\(2\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 452.80 Td (Includes in) Tj ET Q q 0 0 0 rg BT 93.33 452.80 Td (v) Tj ET Q q 0 0 0 rg BT 96.43 452.80 Td (es) Tj ET Q q 0 0 0 rg BT 102.57 452.80 Td (tmen) Tj ET Q q 0 0 0 rg BT 117.60 452.80 Td (t pr) Tj ET Q q 0 0 0 rg BT 127.53 452.80 Td (operties classified as held f) Tj ET Q q 0 0 0 rg BT 203.76 452.80 Td (or sale t) Tj ET Q q 0 0 0 rg BT 226.51 452.80 Td (ot) Tj ET Q q 0 0 0 rg BT 232.46 452.80 Td (aling ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 247.58 452.80 Td ($69 million) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 279.20 452.80 Td (. ) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 429.40 Td (In) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 63.47 429.40 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 69.04 429.40 Td (es) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 79.73 429.40 Td (tmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 106.02 429.40 Td (t Pr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 123.40 429.40 Td (operties De) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 189.48 429.40 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 195.05 429.40 Td (elopmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 239.06 429.40 Td (t Land) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 414.40 Td (A c) Tj ET Q q 0 0 0 rg BT 66.19 414.40 Td (on) Tj ET Q q 0 0 0 rg BT 76.63 414.40 Td (tinuity of the Compan) Tj ET Q q 0 0 0 rg BT 165.34 414.40 Td (y) Tj ET Q q 0 0 0 rg BT 170.17 414.40 Td () Tj ET Q q 0 0 0 rg BT 172.06 414.40 Td (s pr) Tj ET Q q 0 0 0 rg BT 186.81 414.40 Td (oportiona) Tj ET Q q 0 0 0 rg BT 226.96 414.40 Td (t) Tj ET Q q 0 0 0 rg BT 230.21 414.40 Td (e in) Tj ET Q q 0 0 0 rg BT 244.90 414.40 Td (t) Tj ET Q q 0 0 0 rg BT 248.14 414.40 Td (er) Tj ET Q q 0 0 0 rg BT 256.47 414.40 Td (es) Tj ET Q q 0 0 0 rg BT 265.25 414.40 Td (t in in) Tj ET Q q 0 0 0 rg BT 288.05 414.40 Td (v) Tj ET Q q 0 0 0 rg BT 292.47 414.40 Td (es) Tj ET Q q 0 0 0 rg BT 301.24 414.40 Td (tmen) Tj ET Q q 0 0 0 rg BT 322.72 414.40 Td (ts in its de) Tj ET Q q 0 0 0 rg BT 364.04 414.40 Td (v) Tj ET Q q 0 0 0 rg BT 368.46 414.40 Td (elopmen) Tj ET Q q 0 0 0 rg BT 404.39 414.40 Td (t land acquisitions, dispositions and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 402.40 Td (de) Tj ET Q q 0 0 0 rg BT 64.18 402.40 Td (v) Tj ET Q q 0 0 0 rg BT 68.60 402.40 Td (elopmen) Tj ET Q q 0 0 0 rg BT 104.52 402.40 Td (t activities is summariz) Tj ET Q q 0 0 0 rg BT 196.30 402.40 Td (ed belo) Tj ET Q q 0 0 0 rg BT 226.55 402.40 Td (w:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 391.9 m 434.5 391.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 376.9 m 434.5 376.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 391.9 m 484.5 391.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 391.9 m 499.5 391.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 484.5 376.9 m 499.5 376.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 391.9 m 549.5 391.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 499.5 376.9 m 549.5 376.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 376.9 m 434.5 376.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 363.9 m 434.5 363.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 434.5 376.9 m 484.5 376.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 434.5 363.9 m 484.5 363.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 484.5 376.9 m 499.5 376.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 484.5 363.9 m 499.5 363.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 499.5 376.9 m 549.5 376.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 499.5 363.9 m 549.5 363.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 298.9 m 434.5 298.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 434.5 298.9 m 484.5 298.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 484.5 298.9 m 499.5 298.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 499.5 298.9 m 549.5 298.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 272.9 m 434.5 272.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 257.9 m 434.5 257.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 434.5 272.9 m 484.5 272.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 257.9 m 484.5 257.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 484.5 272.9 m 499.5 272.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 257.9 m 499.5 257.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 499.5 272.9 m 549.5 272.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 257.9 m 549.5 257.9 l s BT /F4 9.00 Tf ET q 0 0 0 rg BT 57.00 381.65 Td (Three months ended March 31) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 453.75 381.65 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 518.75 381.65 Td (2014) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 367.40 Td (\(millions of dollars\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 354.65 Td (Balance at beginning of period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 437.00 354.65 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.00 354.65 Td (35) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 502.00 354.65 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.55 354.65 Td (166) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 341.65 Td (Acquisitions) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 473.00 341.65 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.65 341.65 Td (4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 328.65 Td (Development activities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 473.00 328.65 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.65 328.65 Td (3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 315.65 Td (Decrease in value of investment properties, net) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 473.75 315.65 Td (\(3) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 481.15 315.65 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.95 315.65 Td (\(1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.25 315.65 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 302.65 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 476.55 302.65 Td (1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.95 302.65 Td (\(1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.25 302.65 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 290.65 Td (Balance at end of period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 437.00 289.65 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.00 289.65 Td (33) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 502.00 289.65 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.55 289.65 Td (171) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 276.65 Td (In) Tj ET Q q 0 0 0 rg BT 63.85 276.65 Td (v) Tj ET Q q 0 0 0 rg BT 67.82 276.65 Td (es) Tj ET Q q 0 0 0 rg BT 75.72 276.65 Td (tmen) Tj ET Q q 0 0 0 rg BT 95.05 276.65 Td (t in join) Tj ET Q q 0 0 0 rg BT 122.54 276.65 Td (t v) Tj ET Q q 0 0 0 rg BT 131.56 276.65 Td (en) Tj ET Q q 0 0 0 rg BT 140.69 276.65 Td (tur) Tj ET Q q 0 0 0 rg BT 151.45 276.65 Td (es de) Tj ET Q q 0 0 0 rg BT 177.16 276.65 Td (v) Tj ET Q q 0 0 0 rg BT 181.14 276.65 Td (elopmen) Tj ET Q q 0 0 0 rg BT 213.47 276.65 Td (t land ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 236.38 280.46 Td (\(1\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.00 276.65 Td (47) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.10 276.65 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 262.65 Td (Pr) Tj ET Q q 0 0 0 rg BT 64.64 262.65 Td (oportiona) Tj ET Q q 0 0 0 rg BT 100.78 262.65 Td (t) Tj ET Q q 0 0 0 rg BT 103.70 262.65 Td (e in) Tj ET Q q 0 0 0 rg BT 116.92 262.65 Td (t) Tj ET Q q 0 0 0 rg BT 119.84 262.65 Td (er) Tj ET Q q 0 0 0 rg BT 127.34 262.65 Td (es) Tj ET Q q 0 0 0 rg BT 135.24 262.65 Td (t end of period ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 191.70 266.46 Td (\(2\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 437.00 262.65 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.00 262.65 Td (80) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 502.00 262.65 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.55 262.65 Td (171) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 250.34 Td (\(1\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 247.00 Td (This c) Tj ET Q q 0 0 0 rg BT 78.92 247.00 Td (onsis) Tj ET Q q 0 0 0 rg BT 93.29 247.00 Td (ts of the Compan) Tj ET Q q 0 0 0 rg BT 142.05 247.00 Td (y's in) Tj ET Q q 0 0 0 rg BT 156.25 247.00 Td (v) Tj ET Q q 0 0 0 rg BT 159.34 247.00 Td (es) Tj ET Q q 0 0 0 rg BT 165.48 247.00 Td (tmen) Tj ET Q q 0 0 0 rg BT 180.52 247.00 Td (ts in Main and Main De) Tj ET Q q 0 0 0 rg BT 246.50 247.00 Td (v) Tj ET Q q 0 0 0 rg BT 249.60 247.00 Td (elopmen) Tj ET Q q 0 0 0 rg BT 274.74 247.00 Td (ts and Main and Main Urban R) Tj ET Q q 0 0 0 rg BT 361.30 247.00 Td (ealty) Tj ET Q q 0 0 0 rg BT 374.79 247.00 Td (. R) Tj ET Q q 0 0 0 rg BT 381.82 247.00 Td (e) Tj ET Q q 0 0 0 rg BT 385.24 247.00 Td (f) Tj ET Q q 0 0 0 rg BT 387.20 247.00 Td (er t) Tj ET Q q 0 0 0 rg BT 396.99 247.00 Td (o the ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 413.35 247.00 Td (Business and Oper) Tj ET Q q 0 0 0 rg BT 468.71 247.00 Td (a) Tj ET Q q 0 0 0 rg BT 472.00 247.00 Td (tions R) Tj ET Q q 0 0 0 rg BT 491.32 247.00 Td (e) Tj ET Q q 0 0 0 rg BT 494.76 247.00 Td (vie) Tj ET Q q 0 0 0 rg BT 502.98 247.00 Td (w Pr) Tj ET Q q 0 0 0 rg BT 520.58 247.00 Td (operties ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 238.60 Td (Under De) Tj ET Q q 0 0 0 rg BT 90.11 238.60 Td (v) Tj ET Q q 0 0 0 rg BT 93.20 238.60 Td (elopmen) Tj ET Q q 0 0 0 rg BT 118.35 238.60 Td (t Main and Main De) Tj ET Q q 0 0 0 rg BT 179.80 238.60 Td (v) Tj ET Q q 0 0 0 rg BT 182.89 238.60 Td (elopmen) Tj ET Q q 0 0 0 rg BT 208.04 238.60 Td (ts) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 216.05 238.60 Td ( section of this MD&A) Tj ET Q q 0 0 0 rg BT 278.23 238.60 Td (.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 230.54 Td (\(2\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 227.20 Td (Includes in) Tj ET Q q 0 0 0 rg BT 93.33 227.20 Td (v) Tj ET Q q 0 0 0 rg BT 96.43 227.20 Td (es) Tj ET Q q 0 0 0 rg BT 102.57 227.20 Td (tmen) Tj ET Q q 0 0 0 rg BT 117.60 227.20 Td (t pr) Tj ET Q q 0 0 0 rg BT 127.53 227.20 Td (operties classified as held f) Tj ET Q q 0 0 0 rg BT 203.76 227.20 Td (or sale t) Tj ET Q q 0 0 0 rg BT 226.51 227.20 Td (ot) Tj ET Q q 0 0 0 rg BT 232.46 227.20 Td (aling ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 247.58 227.20 Td ($7 million) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 275.65 227.20 Td (.) Tj ET Q endstream endobj 45 0 obj <> endobj 46 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (21) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 693.00 Td (2015) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 78.33 693.00 Td ( Acquisitions) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 678.00 Td (Manag) Tj ET Q q 0 0 0 rg BT 82.01 678.00 Td (emen) Tj ET Q q 0 0 0 rg BT 105.11 678.00 Td (t c) Tj ET Q q 0 0 0 rg BT 114.86 678.00 Td (on) Tj ET Q q 0 0 0 rg BT 125.30 678.00 Td (tinues t) Tj ET Q q 0 0 0 rg BT 155.85 678.00 Td (o be selectiv) Tj ET Q q 0 0 0 rg BT 206.32 678.00 Td (e and t) Tj ET Q q 0 0 0 rg BT 234.35 678.00 Td (ak) Tj ET Q q 0 0 0 rg BT 243.36 678.00 Td (e a highly disciplined appr) Tj ET Q q 0 0 0 rg BT 348.43 678.00 Td (oach t) Tj ET Q q 0 0 0 rg BT 373.49 678.00 Td (o incr) Tj ET Q q 0 0 0 rg BT 396.16 678.00 Td (easing the siz) Tj ET Q q 0 0 0 rg BT 450.12 678.00 Td (e and quality of the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 666.00 Td (Compan) Tj ET Q q 0 0 0 rg BT 87.71 666.00 Td (y) Tj ET Q q 0 0 0 rg BT 92.54 666.00 Td () Tj ET Q q 0 0 0 rg BT 94.42 666.00 Td (s pr) Tj ET Q q 0 0 0 rg BT 109.17 666.00 Td (operty portf) Tj ET Q q 0 0 0 rg BT 158.50 666.00 Td (olio) Tj ET Q q 0 0 0 rg BT 173.46 666.00 Td (, seeking acquisitions tha) Tj ET Q q 0 0 0 rg BT 274.81 666.00 Td (t ar) Tj ET Q q 0 0 0 rg BT 288.57 666.00 Td (e oper) Tj ET Q q 0 0 0 rg BT 314.59 666.00 Td (a) Tj ET Q q 0 0 0 rg BT 319.28 666.00 Td (tionally) Tj ET Q q 0 0 0 rg BT 348.65 666.00 Td (, financially and qualit) Tj ET Q q 0 0 0 rg BT 437.41 666.00 Td (a) Tj ET Q q 0 0 0 rg BT 442.11 666.00 Td (tiv) Tj ET Q q 0 0 0 rg BT 452.17 666.00 Td (ely accr) Tj ET Q q 0 0 0 rg BT 482.83 666.00 Td (e) Tj ET Q q 0 0 0 rg BT 487.75 666.00 Td (tiv) Tj ET Q q 0 0 0 rg BT 497.82 666.00 Td (e o) Tj ET Q q 0 0 0 rg BT 510.28 666.00 Td (v) Tj ET Q q 0 0 0 rg BT 514.70 666.00 Td (er the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 654.00 Td (long t) Tj ET Q q 0 0 0 rg BT 77.03 654.00 Td (erm. Manag) Tj ET Q q 0 0 0 rg BT 126.28 654.00 Td (emen) Tj ET Q q 0 0 0 rg BT 149.38 654.00 Td (t seek) Tj ET Q q 0 0 0 rg BT 173.30 654.00 Td (s ec) Tj ET Q q 0 0 0 rg BT 188.59 654.00 Td (onomies of sc) Tj ET Q q 0 0 0 rg BT 244.47 654.00 Td (ale and oper) Tj ET Q q 0 0 0 rg BT 295.13 654.00 Td (a) Tj ET Q q 0 0 0 rg BT 299.83 654.00 Td (ting s) Tj ET Q q 0 0 0 rg BT 321.43 654.00 Td (yner) Tj ET Q q 0 0 0 rg BT 339.53 654.00 Td (gies in or) Tj ET Q q 0 0 0 rg BT 376.11 654.00 Td (der t) Tj ET Q q 0 0 0 rg BT 395.34 654.00 Td (o s) Tj ET Q q 0 0 0 rg BT 406.68 654.00 Td (tr) Tj ET Q q 0 0 0 rg BT 413.38 654.00 Td (eng) Tj ET Q q 0 0 0 rg BT 428.17 654.00 Td (then the Compan) Tj ET Q q 0 0 0 rg BT 498.80 654.00 Td (y) Tj ET Q q 0 0 0 rg BT 503.63 654.00 Td () Tj ET Q q 0 0 0 rg BT 505.52 654.00 Td (s ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 642.00 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 642.00 Td (ompe) Tj ET Q q 0 0 0 rg BT 81.58 642.00 Td (titiv) Tj ET Q q 0 0 0 rg BT 97.29 642.00 Td (e position in its t) Tj ET Q q 0 0 0 rg BT 164.55 642.00 Td (ar) Tj ET Q q 0 0 0 rg BT 172.69 642.00 Td (g) Tj ET Q q 0 0 0 rg BT 177.31 642.00 Td (e) Tj ET Q q 0 0 0 rg BT 182.23 642.00 Td (t urban mark) Tj ET Q q 0 0 0 rg BT 234.63 642.00 Td (e) Tj ET Q q 0 0 0 rg BT 239.55 642.00 Td (ts. As w) Tj ET Q q 0 0 0 rg BT 270.62 642.00 Td (ell, Manag) Tj ET Q q 0 0 0 rg BT 312.95 642.00 Td (emen) Tj ET Q q 0 0 0 rg BT 336.05 642.00 Td (t seek) Tj ET Q q 0 0 0 rg BT 359.97 642.00 Td (s t) Tj ET Q q 0 0 0 rg BT 369.40 642.00 Td (o enhance the t) Tj ET Q q 0 0 0 rg BT 433.00 642.00 Td (enan) Tj ET Q q 0 0 0 rg BT 453.18 642.00 Td (t and g) Tj ET Q q 0 0 0 rg BT 480.98 642.00 Td (eogr) Tj ET Q q 0 0 0 rg BT 499.21 642.00 Td (aphic ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 630.00 Td (div) Tj ET Q q 0 0 0 rg BT 65.97 630.00 Td (er) Tj ET Q q 0 0 0 rg BT 74.26 630.00 Td (sific) Tj ET Q q 0 0 0 rg BT 89.96 630.00 Td (a) Tj ET Q q 0 0 0 rg BT 94.65 630.00 Td (tion of the portf) Tj ET Q q 0 0 0 rg BT 159.72 630.00 Td (olio.) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 610.80 Td (Inc) Tj ET Q q 0 0 0 rg BT 67.16 610.80 Td (ome producing properties Shopping Cen) Tj ET Q q 0 0 0 rg BT 257.30 610.80 Td (tres and Additional Adjac) Tj ET Q q 0 0 0 rg BT 372.74 610.80 Td (en) Tj ET Q q 0 0 0 rg BT 383.84 610.80 Td (t Spac) Tj ET Q q 0 0 0 rg BT 411.32 610.80 Td (es) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 595.80 Td (During the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.25 595.80 Td (thr) Tj ET Q q 0 0 0 rg BT 111.21 595.80 Td (ee mon) Tj ET Q q 0 0 0 rg BT 141.84 595.80 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 201.27 595.80 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.18 595.80 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 302.48 595.80 Td (y acquir) Tj ET Q q 0 0 0 rg BT 334.44 595.80 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 346.93 595.80 Td (tw) Tj ET Q q 0 0 0 rg BT 357.34 595.80 Td (o) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 362.61 595.80 Td ( pr) Tj ET Q q 0 0 0 rg BT 373.45 595.80 Td (operties in close pr) Tj ET Q q 0 0 0 rg BT 450.57 595.80 Td (o) Tj ET Q q 0 0 0 rg BT 455.65 595.80 Td (ximity t) Tj ET Q q 0 0 0 rg BT 485.94 595.80 Td (o e) Tj ET Q q 0 0 0 rg BT 498.30 595.80 Td (xis) Tj ET Q q 0 0 0 rg BT 508.73 595.80 Td (ting ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 583.80 Td (shopping cen) Tj ET Q q 0 0 0 rg BT 107.83 583.80 Td (tr) Tj ET Q q 0 0 0 rg BT 114.53 583.80 Td (es, as summariz) Tj ET Q q 0 0 0 rg BT 178.58 583.80 Td (ed in the t) Tj ET Q q 0 0 0 rg BT 219.94 583.80 Td (able belo) Tj ET Q q 0 0 0 rg BT 257.28 583.80 Td (w: ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 573.3 m 81.5 573.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 551.3 m 81.5 551.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 81.5 573.3 m 267.5 573.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 81.5 551.3 m 267.5 551.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 573.3 m 277.5 573.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 267.5 551.3 m 277.5 551.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 573.3 m 330.5 573.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 277.5 551.3 m 330.5 551.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 573.3 m 381.5 573.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 551.3 m 381.5 551.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 573.3 m 417.5 573.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 381.5 551.3 m 417.5 551.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 573.3 m 475.5 573.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 551.3 m 475.5 551.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 573.3 m 488.5 573.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 551.3 m 488.5 551.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 573.3 m 545.5 573.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488.5 551.3 m 545.5 551.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 545.5 573.3 m 558.5 573.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 545.5 551.3 m 558.5 551.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 513.3 m 81.5 513.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 498.3 m 81.5 498.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 81.5 513.3 m 267.5 513.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 81.5 498.3 m 267.5 498.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 267.5 513.3 m 277.5 513.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 498.3 m 277.5 498.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 277.5 513.3 m 330.5 513.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 498.3 m 330.5 498.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 513.3 m 381.5 513.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 498.3 m 381.5 498.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 381.5 513.3 m 417.5 513.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 498.3 m 417.5 498.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 513.3 m 475.5 513.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 498.3 m 475.5 498.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 513.3 m 488.5 513.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 498.3 m 488.5 498.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488.5 513.3 m 545.5 513.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 498.3 m 545.5 498.3 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 545.5 513.3 m 558.5 513.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 545.5 498.3 m 558.5 498.3 l s BT /F3 7.50 Tf ET q 0 0 0 rg BT 57.00 555.67 Td (Count) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 84.00 555.67 Td (Property) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 280.00 555.67 Td (City) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 342.35 555.67 Td (Province) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 387.00 563.17 Td (Quart) Tj ET Q q 0 0 0 rg BT 404.63 563.17 Td (er) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 385.30 555.67 Td (Acquir) Tj ET Q q 0 0 0 rg BT 404.93 555.67 Td (ed) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 435.10 563.17 Td (GLA \(square) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 457.65 555.67 Td (feet\)) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 493.05 563.17 Td (Acquisition Cos) Tj ET Q q 0 0 0 rg BT 539.45 563.17 Td (t) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 506.35 555.67 Td (\(in millions\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 542.05 Td (1.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 84.00 542.05 Td (880-16th A) Tj ET Q q 0 0 0 rg BT 124.38 542.05 Td (v) Tj ET Q q 0 0 0 rg BT 128.36 542.05 Td (e., 1508-8th Str) Tj ET Q q 0 0 0 rg BT 184.90 542.05 Td (ee) Tj ET Q q 0 0 0 rg BT 193.81 542.05 Td (t ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 93.00 533.05 Td (\(Moun) Tj ET Q q 0 0 0 rg BT 117.54 533.05 Td (t R) Tj ET Q q 0 0 0 rg BT 127.29 533.05 Td (o) Tj ET Q q 0 0 0 rg BT 131.99 533.05 Td (y) Tj ET Q q 0 0 0 rg BT 135.93 533.05 Td (al Villag) Tj ET Q q 0 0 0 rg BT 164.12 533.05 Td (e\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 280.00 542.05 Td (Calgary) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 350.40 542.05 Td (AB) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 393.65 542.05 Td (Q1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 447.15 542.05 Td (42,400) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.00 542.05 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.25 542.05 Td (23.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 519.05 Td (2.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 84.00 519.05 Td (Yorkville Village Adjacent Properties) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 280.00 519.05 Td (Toronto) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 349.60 519.05 Td (ON) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 393.65 519.05 Td (Q1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 464.10 519.05 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.00 519.05 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.85 519.05 Td (1.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 84.00 503.05 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 447.15 503.05 Td (42,400) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.00 503.05 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.25 503.05 Td (24.8) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 475.45 Td (2015) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 78.33 475.45 Td ( Disposition) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 457.40 Td (During ) Tj ET Q q 0 0 0 rg BT 83.41 457.40 Td (the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.24 457.40 Td (thr) Tj ET Q q 0 0 0 rg BT 111.20 457.40 Td (ee ) Tj ET Q q 0 0 0 rg BT 123.41 457.40 Td (mon) Tj ET Q q 0 0 0 rg BT 141.83 457.40 Td (ths ) Tj ET Q q 0 0 0 rg BT 156.60 457.40 Td (ended ) Tj ET Q q 0 0 0 rg BT 184.57 457.40 Td (Mar) Tj ET Q q 0 0 0 rg BT 201.25 457.40 Td (ch ) Tj ET Q q 0 0 0 rg BT 212.99 457.40 Td (31, ) Tj ET Q q 0 0 0 rg BT 227.88 457.40 Td (2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.16 457.40 Td (, ) Tj ET Q q 0 0 0 rg BT 252.91 457.40 Td (the ) Tj ET Q q 0 0 0 rg BT 268.74 457.40 Td (Compan) Tj ET Q q 0 0 0 rg BT 302.45 457.40 Td (y ) Tj ET Q q 0 0 0 rg BT 309.23 457.40 Td (sold ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 328.23 457.40 Td (one) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.73 457.40 Td ( ) Tj ET Q q 0 0 0 rg BT 345.99 457.40 Td (pr) Tj ET Q q 0 0 0 rg BT 354.56 457.40 Td (operty ) Tj ET Q q 0 0 0 rg BT 383.69 457.40 Td (in ) Tj ET Q q 0 0 0 rg BT 393.49 457.40 Td (Delson, ) Tj ET Q q 0 0 0 rg BT 426.11 457.40 Td (Quebec, ) Tj ET Q q 0 0 0 rg BT 462.28 457.40 Td (r) Tj ET Q q 0 0 0 rg BT 465.63 457.40 Td (epr) Tj ET Q q 0 0 0 rg BT 479.21 457.40 Td (esen) Tj ET Q q 0 0 0 rg BT 498.24 457.40 Td (ting ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 516.10 457.40 Td (136,700) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 549.01 457.40 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 445.40 Td (squar) Tj ET Q q 0 0 0 rg BT 76.56 445.40 Td (e ) Tj ET Q q 0 0 0 rg BT 83.95 445.40 Td (f) Tj ET Q q 0 0 0 rg BT 86.75 445.40 Td (ee) Tj ET Q q 0 0 0 rg BT 96.65 445.40 Td (t ) Tj ET Q q 0 0 0 rg BT 102.42 445.40 Td (of ) Tj ET Q q 0 0 0 rg BT 113.15 445.40 Td (GLA ) Tj ET Q q 0 0 0 rg BT 131.87 445.40 Td (f) Tj ET Q q 0 0 0 rg BT 134.71 445.40 Td (or ) Tj ET Q q 0 0 0 rg BT 145.88 445.40 Td (gr) Tj ET Q q 0 0 0 rg BT 153.91 445.40 Td (oss ) Tj ET Q q 0 0 0 rg BT 169.42 445.40 Td (pr) Tj ET Q q 0 0 0 rg BT 178.00 445.40 Td (oceeds ) Tj ET Q q 0 0 0 rg BT 209.03 445.40 Td (of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 219.77 445.40 Td ($21.5 ) Tj ET Q q 0 0 0 rg BT 244.98 445.40 Td (million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 272.68 445.40 Td (. ) Tj ET Q q 0 0 0 rg BT 277.61 445.40 Td (This ) Tj ET Q q 0 0 0 rg BT 296.36 445.40 Td (disposition ) Tj ET Q q 0 0 0 rg BT 343.14 445.40 Td (is ) Tj ET Q q 0 0 0 rg BT 351.76 445.40 Td (in ) Tj ET Q q 0 0 0 rg BT 361.72 445.40 Td (line ) Tj ET Q q 0 0 0 rg BT 378.95 445.40 Td (with ) Tj ET Q q 0 0 0 rg BT 399.41 445.40 Td (the ) Tj ET Q q 0 0 0 rg BT 415.40 445.40 Td (Compan) Tj ET Q q 0 0 0 rg BT 449.11 445.40 Td (y) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 453.64 445.40 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 455.88 445.40 Td (s ) Tj ET Q q 0 0 0 rg BT 462.21 445.40 Td (s) Tj ET Q q 0 0 0 rg BT 466.00 445.40 Td (tr) Tj ET Q q 0 0 0 rg BT 472.64 445.40 Td (a) Tj ET Q q 0 0 0 rg BT 477.33 445.40 Td (t) Tj ET Q q 0 0 0 rg BT 480.57 445.40 Td (egy ) Tj ET Q q 0 0 0 rg BT 497.20 445.40 Td (of ) Tj ET Q q 0 0 0 rg BT 507.94 445.40 Td (incr) Tj ET Q q 0 0 0 rg BT 523.07 445.40 Td (easing ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 433.40 Td (the ) Tj ET Q q 0 0 0 rg BT 69.84 433.40 Td (portf) Tj ET Q q 0 0 0 rg BT 90.04 433.40 Td (olio) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 105.18 433.40 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 107.43 433.40 Td (s ) Tj ET Q q 0 0 0 rg BT 113.60 433.40 Td (f) Tj ET Q q 0 0 0 rg BT 116.44 433.40 Td (ocus ) Tj ET Q q 0 0 0 rg BT 137.37 433.40 Td (on ) Tj ET Q q 0 0 0 rg BT 150.16 433.40 Td (c) Tj ET Q q 0 0 0 rg BT 154.30 433.40 Td (or) Tj ET Q q 0 0 0 rg BT 162.93 433.40 Td (e ) Tj ET Q q 0 0 0 rg BT 170.17 433.40 Td (urban ) Tj ET Q q 0 0 0 rg BT 196.47 433.40 Td (mark) Tj ET Q q 0 0 0 rg BT 216.95 433.40 Td (e) Tj ET Q q 0 0 0 rg BT 221.88 433.40 Td (ts.) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 410.00 Td (In) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 63.47 410.00 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 69.04 410.00 Td (es) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 79.73 410.00 Td (tmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 106.02 410.00 Td (t Pr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 123.40 410.00 Td (operties Classified as Held F) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 261.42 410.00 Td (or Sale) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 392.00 Td (In) Tj ET Q q 0 0 0 rg BT 61.61 392.00 Td (v) Tj ET Q q 0 0 0 rg BT 66.03 392.00 Td (es) Tj ET Q q 0 0 0 rg BT 74.80 392.00 Td (tmen) Tj ET Q q 0 0 0 rg BT 96.28 392.00 Td (t pr) Tj ET Q q 0 0 0 rg BT 110.46 392.00 Td (operty is classified as held f) Tj ET Q q 0 0 0 rg BT 221.17 392.00 Td (or sale when it is e) Tj ET Q q 0 0 0 rg BT 296.51 392.00 Td (xpect) Tj ET Q q 0 0 0 rg BT 318.54 392.00 Td (ed tha) Tj ET Q q 0 0 0 rg BT 344.33 392.00 Td (t the c) Tj ET Q q 0 0 0 rg BT 369.93 392.00 Td (arr) Tj ET Q q 0 0 0 rg BT 381.74 392.00 Td (ying amoun) Tj ET Q q 0 0 0 rg BT 429.25 392.00 Td (t will be r) Tj ET Q q 0 0 0 rg BT 467.00 392.00 Td (ec) Tj ET Q q 0 0 0 rg BT 476.12 392.00 Td (o) Tj ET Q q 0 0 0 rg BT 481.35 392.00 Td (v) Tj ET Q q 0 0 0 rg BT 485.77 392.00 Td (er) Tj ET Q q 0 0 0 rg BT 494.10 392.00 Td (ed principally ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 380.00 Td (thr) Tj ET Q q 0 0 0 rg BT 65.93 380.00 Td (ough sale r) Tj ET Q q 0 0 0 rg BT 110.19 380.00 Td (a) Tj ET Q q 0 0 0 rg BT 114.89 380.00 Td (ther than fr) Tj ET Q q 0 0 0 rg BT 161.50 380.00 Td (om c) Tj ET Q q 0 0 0 rg BT 181.17 380.00 Td (on) Tj ET Q q 0 0 0 rg BT 191.60 380.00 Td (tinuing use. In) Tj ET Q q 0 0 0 rg BT 248.80 380.00 Td (v) Tj ET Q q 0 0 0 rg BT 253.22 380.00 Td (es) Tj ET Q q 0 0 0 rg BT 262.00 380.00 Td (tmen) Tj ET Q q 0 0 0 rg BT 283.47 380.00 Td (t pr) Tj ET Q q 0 0 0 rg BT 297.66 380.00 Td (operty held f) Tj ET Q q 0 0 0 rg BT 349.67 380.00 Td (or sale mus) Tj ET Q q 0 0 0 rg BT 395.96 380.00 Td (t be a) Tj ET Q q 0 0 0 rg BT 418.69 380.00 Td (v) Tj ET Q q 0 0 0 rg BT 423.06 380.00 Td (ailable f) Tj ET Q q 0 0 0 rg BT 454.85 380.00 Td (or immedia) Tj ET Q q 0 0 0 rg BT 501.37 380.00 Td (t) Tj ET Q q 0 0 0 rg BT 504.61 380.00 Td (e sale in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 368.00 Td (its pr) Tj ET Q q 0 0 0 rg BT 74.42 368.00 Td (esen) Tj ET Q q 0 0 0 rg BT 93.45 368.00 Td (t c) Tj ET Q q 0 0 0 rg BT 103.20 368.00 Td (ondition, subject only t) Tj ET Q q 0 0 0 rg BT 196.70 368.00 Td (o t) Tj ET Q q 0 0 0 rg BT 207.47 368.00 Td (erms tha) Tj ET Q q 0 0 0 rg BT 243.39 368.00 Td (t ar) Tj ET Q q 0 0 0 rg BT 257.15 368.00 Td (e usual and cus) Tj ET Q q 0 0 0 rg BT 318.99 368.00 Td (t) Tj ET Q q 0 0 0 rg BT 322.24 368.00 Td (omar) Tj ET Q q 0 0 0 rg BT 343.83 368.00 Td (y f) Tj ET Q q 0 0 0 rg BT 353.46 368.00 Td (or sales of such pr) Tj ET Q q 0 0 0 rg BT 426.70 368.00 Td (operty) Tj ET Q q 0 0 0 rg BT 452.85 368.00 Td (, and its sale mus) Tj ET Q q 0 0 0 rg BT 522.25 368.00 Td (t be ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 356.00 Td (highly pr) Tj ET Q q 0 0 0 rg BT 89.17 356.00 Td (obable. Upon designa) Tj ET Q q 0 0 0 rg BT 177.35 356.00 Td (tion as held f) Tj ET Q q 0 0 0 rg BT 229.63 356.00 Td (or sale, the in) Tj ET Q q 0 0 0 rg BT 284.60 356.00 Td (v) Tj ET Q q 0 0 0 rg BT 289.01 356.00 Td (es) Tj ET Q q 0 0 0 rg BT 297.79 356.00 Td (tmen) Tj ET Q q 0 0 0 rg BT 319.26 356.00 Td (t pr) Tj ET Q q 0 0 0 rg BT 333.45 356.00 Td (operty c) Tj ET Q q 0 0 0 rg BT 366.72 356.00 Td (on) Tj ET Q q 0 0 0 rg BT 377.16 356.00 Td (tinues t) Tj ET Q q 0 0 0 rg BT 407.71 356.00 Td (o be measur) Tj ET Q q 0 0 0 rg BT 458.01 356.00 Td (ed a) Tj ET Q q 0 0 0 rg BT 475.20 356.00 Td (t f) Tj ET Q q 0 0 0 rg BT 483.66 356.00 Td (air v) Tj ET Q q 0 0 0 rg BT 500.87 356.00 Td (alue and is ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 344.00 Td (pr) Tj ET Q q 0 0 0 rg BT 62.61 344.00 Td (esen) Tj ET Q q 0 0 0 rg BT 81.63 344.00 Td (t) Tj ET Q q 0 0 0 rg BT 84.87 344.00 Td (ed separ) Tj ET Q q 0 0 0 rg BT 119.58 344.00 Td (a) Tj ET Q q 0 0 0 rg BT 124.27 344.00 Td (t) Tj ET Q q 0 0 0 rg BT 127.52 344.00 Td (ely on the c) Tj ET Q q 0 0 0 rg BT 174.35 344.00 Td (onsolida) Tj ET Q q 0 0 0 rg BT 208.60 344.00 Td (t) Tj ET Q q 0 0 0 rg BT 211.84 344.00 Td (ed balance shee) Tj ET Q q 0 0 0 rg BT 277.24 344.00 Td (t.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 326.00 Td (Included in in) Tj ET Q q 0 0 0 rg BT 108.49 326.00 Td (v) Tj ET Q q 0 0 0 rg BT 112.91 326.00 Td (es) Tj ET Q q 0 0 0 rg BT 121.68 326.00 Td (tmen) Tj ET Q q 0 0 0 rg BT 143.16 326.00 Td (t pr) Tj ET Q q 0 0 0 rg BT 157.34 326.00 Td (operties classified as held f) Tj ET Q q 0 0 0 rg BT 266.24 326.00 Td (or sale as a) Tj ET Q q 0 0 0 rg BT 311.15 326.00 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 316.76 326.00 Td (Mar) Tj ET Q q 0 0 0 rg BT 333.44 326.00 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 380.35 326.00 Td ( ar) Tj ET Q q 0 0 0 rg BT 390.75 326.00 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 397.99 326.00 Td (one) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 413.49 326.00 Td ( shopping cen) Tj ET Q q 0 0 0 rg BT 469.58 326.00 Td (tr) Tj ET Q q 0 0 0 rg BT 476.29 326.00 Td (e, a 50% in) Tj ET Q q 0 0 0 rg BT 520.07 326.00 Td (t) Tj ET Q q 0 0 0 rg BT 523.31 326.00 Td (er) Tj ET Q q 0 0 0 rg BT 531.64 326.00 Td (es) Tj ET Q q 0 0 0 rg BT 540.42 326.00 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 314.00 Td (in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.81 314.00 Td (one) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 79.31 314.00 Td ( other shopping cen) Tj ET Q q 0 0 0 rg BT 160.00 314.00 Td (tr) Tj ET Q q 0 0 0 rg BT 166.71 314.00 Td (e and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 191.50 314.00 Td (one) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 207.00 314.00 Td ( de) Tj ET Q q 0 0 0 rg BT 219.44 314.00 Td (v) Tj ET Q q 0 0 0 rg BT 223.86 314.00 Td (elopmen) Tj ET Q q 0 0 0 rg BT 259.79 314.00 Td (t land par) Tj ET Q q 0 0 0 rg BT 298.63 314.00 Td (cel with an ag) Tj ET Q q 0 0 0 rg BT 354.60 314.00 Td (gr) Tj ET Q q 0 0 0 rg BT 362.66 314.00 Td (eg) Tj ET Q q 0 0 0 rg BT 372.15 314.00 Td (a) Tj ET Q q 0 0 0 rg BT 376.85 314.00 Td (t) Tj ET Q q 0 0 0 rg BT 380.09 314.00 Td (e f) Tj ET Q q 0 0 0 rg BT 390.19 314.00 Td (air v) Tj ET Q q 0 0 0 rg BT 407.39 314.00 Td (alue of appr) Tj ET Q q 0 0 0 rg BT 456.17 314.00 Td (o) Tj ET Q q 0 0 0 rg BT 461.25 314.00 Td (xima) Tj ET Q q 0 0 0 rg BT 480.56 314.00 Td (t) Tj ET Q q 0 0 0 rg BT 483.80 314.00 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 497.86 314.00 Td ($75.6 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 302.00 Td (million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 81.70 302.00 Td ( tha) Tj ET Q q 0 0 0 rg BT 97.26 302.00 Td (t mee) Tj ET Q q 0 0 0 rg BT 120.75 302.00 Td (t the financial r) Tj ET Q q 0 0 0 rg BT 182.07 302.00 Td (eporting crit) Tj ET Q q 0 0 0 rg BT 232.18 302.00 Td (eria t) Tj ET Q q 0 0 0 rg BT 253.24 302.00 Td (o be classified as held f) Tj ET Q q 0 0 0 rg BT 346.37 302.00 Td (or sale. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 278.60 Td (Acquisitions and Dispositions Sub) Tj ET Q q 0 0 0 rg BT 220.78 278.60 Td (sequen) Tj ET Q q 0 0 0 rg BT 256.86 278.60 Td (t t) Tj ET Q q 0 0 0 rg BT 267.77 278.60 Td (o ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 276.94 278.60 Td (Mar) Tj ET Q q 0 0 0 rg BT 297.45 278.60 Td (ch31, 2015) Tj ET Q BT /F2 12.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 263.60 Td (Consis) Tj ET Q q 0 0 0 rg BT 79.86 263.60 Td (t) Tj ET Q q 0 0 0 rg BT 83.11 263.60 Td (en) Tj ET Q q 0 0 0 rg BT 93.24 263.60 Td (t with pas) Tj ET Q q 0 0 0 rg BT 133.00 263.60 Td (t pr) Tj ET Q q 0 0 0 rg BT 147.15 263.60 Td (actices and in the normal c) Tj ET Q q 0 0 0 rg BT 255.89 263.60 Td (our) Tj ET Q q 0 0 0 rg BT 269.73 263.60 Td (se of business, the Compan) Tj ET Q q 0 0 0 rg BT 380.53 263.60 Td (y is eng) Tj ET Q q 0 0 0 rg BT 410.54 263.60 Td (ag) Tj ET Q q 0 0 0 rg BT 419.95 263.60 Td (ed in discussions, and has ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 251.60 Td (v) Tj ET Q q 0 0 0 rg BT 58.37 251.60 Td (arious agr) Tj ET Q q 0 0 0 rg BT 98.49 251.60 Td (eemen) Tj ET Q q 0 0 0 rg BT 126.57 251.60 Td (ts, with r) Tj ET Q q 0 0 0 rg BT 162.25 251.60 Td (espect t) Tj ET Q q 0 0 0 rg BT 194.45 251.60 Td (o possible acquisitions of ne) Tj ET Q q 0 0 0 rg BT 308.56 251.60 Td (w pr) Tj ET Q q 0 0 0 rg BT 326.54 251.60 Td (operties and dispositions of e) Tj ET Q q 0 0 0 rg BT 445.83 251.60 Td (xis) Tj ET Q q 0 0 0 rg BT 456.26 251.60 Td (ting pr) Tj ET Q q 0 0 0 rg BT 482.70 251.60 Td (operties in its ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 239.60 Td (portf) Tj ET Q q 0 0 0 rg BT 74.21 239.60 Td (olio. Ho) Tj ET Q q 0 0 0 rg BT 105.59 239.60 Td (w) Tj ET Q q 0 0 0 rg BT 112.65 239.60 Td (e) Tj ET Q q 0 0 0 rg BT 117.58 239.60 Td (v) Tj ET Q q 0 0 0 rg BT 122.00 239.60 Td (er) Tj ET Q q 0 0 0 rg BT 129.60 239.60 Td (, ther) Tj ET Q q 0 0 0 rg BT 151.29 239.60 Td (e c) Tj ET Q q 0 0 0 rg BT 162.67 239.60 Td (an be no assur) Tj ET Q q 0 0 0 rg BT 221.40 239.60 Td (ance tha) Tj ET Q q 0 0 0 rg BT 256.21 239.60 Td (t these discussions or agr) Tj ET Q q 0 0 0 rg BT 358.18 239.60 Td (eemen) Tj ET Q q 0 0 0 rg BT 386.26 239.60 Td (ts will r) Tj ET Q q 0 0 0 rg BT 415.43 239.60 Td (esult in acquisitions or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 227.60 Td (dispositions or) Tj ET Q q 0 0 0 rg BT 112.44 227.60 Td (, if the) Tj ET Q q 0 0 0 rg BT 138.32 227.60 Td (y do) Tj ET Q q 0 0 0 rg BT 155.45 227.60 Td (, wha) Tj ET Q q 0 0 0 rg BT 177.31 227.60 Td (t the final t) Tj ET Q q 0 0 0 rg BT 221.94 227.60 Td (erms or timing of such acquisitions or dispositions w) Tj ET Q q 0 0 0 rg BT 434.21 227.60 Td (ould be. The Compan) Tj ET Q q 0 0 0 rg BT 520.64 227.60 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 215.60 Td (e) Tj ET Q q 0 0 0 rg BT 58.82 215.60 Td (xpects t) Tj ET Q q 0 0 0 rg BT 90.39 215.60 Td (o c) Tj ET Q q 0 0 0 rg BT 102.07 215.60 Td (on) Tj ET Q q 0 0 0 rg BT 112.50 215.60 Td (tinue curr) Tj ET Q q 0 0 0 rg BT 152.21 215.60 Td (en) Tj ET Q q 0 0 0 rg BT 162.35 215.60 Td (t discussions and activ) Tj ET Q q 0 0 0 rg BT 252.36 215.60 Td (ely pur) Tj ET Q q 0 0 0 rg BT 280.24 215.60 Td (sue other acquisition, in) Tj ET Q q 0 0 0 rg BT 377.58 215.60 Td (v) Tj ET Q q 0 0 0 rg BT 382.00 215.60 Td (es) Tj ET Q q 0 0 0 rg BT 390.77 215.60 Td (tmen) Tj ET Q q 0 0 0 rg BT 412.25 215.60 Td (t and disposition opportunities.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 192.20 Td (Pr) Tj ET Q q 0 0 0 rg BT 64.51 192.20 Td (operties Under De) Tj ET Q q 0 0 0 rg BT 155.63 192.20 Td (v) Tj ET Q q 0 0 0 rg BT 161.20 192.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 205.21 192.20 Td (t) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 177.20 Td (De) Tj ET Q q 0 0 0 rg BT 65.08 177.20 Td (v) Tj ET Q q 0 0 0 rg BT 69.50 177.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 105.42 177.20 Td (t and r) Tj ET Q q 0 0 0 rg BT 131.94 177.20 Td (ede) Tj ET Q q 0 0 0 rg BT 147.10 177.20 Td (v) Tj ET Q q 0 0 0 rg BT 151.52 177.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 187.44 177.20 Td (t activities ar) Tj ET Q q 0 0 0 rg BT 239.46 177.20 Td (e c) Tj ET Q q 0 0 0 rg BT 250.85 177.20 Td (omple) Tj ET Q q 0 0 0 rg BT 276.58 177.20 Td (t) Tj ET Q q 0 0 0 rg BT 279.82 177.20 Td (ed selectiv) Tj ET Q q 0 0 0 rg BT 322.76 177.20 Td (ely) Tj ET Q q 0 0 0 rg BT 333.84 177.20 Td (, based on opportunities in the Compan) Tj ET Q q 0 0 0 rg BT 494.67 177.20 Td (y) Tj ET Q q 0 0 0 rg BT 499.50 177.20 Td () Tj ET Q q 0 0 0 rg BT 501.39 177.20 Td (s ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 165.20 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 165.20 Td (operties or in the mark) Tj ET Q q 0 0 0 rg BT 155.52 165.20 Td (e) Tj ET Q q 0 0 0 rg BT 160.44 165.20 Td (ts wher) Tj ET Q q 0 0 0 rg BT 190.69 165.20 Td (e the Compan) Tj ET Q q 0 0 0 rg BT 247.48 165.20 Td (y oper) Tj ET Q q 0 0 0 rg BT 273.05 165.20 Td (a) Tj ET Q q 0 0 0 rg BT 277.75 165.20 Td (t) Tj ET Q q 0 0 0 rg BT 280.99 165.20 Td (es. The Compan) Tj ET Q q 0 0 0 rg BT 345.73 165.20 Td (y) Tj ET Q q 0 0 0 rg BT 350.56 165.20 Td () Tj ET Q q 0 0 0 rg BT 352.44 165.20 Td (s de) Tj ET Q q 0 0 0 rg BT 368.79 165.20 Td (v) Tj ET Q q 0 0 0 rg BT 373.21 165.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 409.14 165.20 Td (t pr) Tj ET Q q 0 0 0 rg BT 423.33 165.20 Td (ojects c) Tj ET Q q 0 0 0 rg BT 453.86 165.20 Td (omprise gr) Tj ET Q q 0 0 0 rg BT 497.34 165.20 Td (ound-up ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 153.20 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 153.20 Td (ojects, major r) Tj ET Q q 0 0 0 rg BT 121.01 153.20 Td (ede) Tj ET Q q 0 0 0 rg BT 136.17 153.20 Td (v) Tj ET Q q 0 0 0 rg BT 140.59 153.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 176.51 153.20 Td (t and other incr) Tj ET Q q 0 0 0 rg BT 239.41 153.20 Td (emen) Tj ET Q q 0 0 0 rg BT 262.51 153.20 Td (t) Tj ET Q q 0 0 0 rg BT 265.74 153.20 Td (al r) Tj ET Q q 0 0 0 rg BT 278.44 153.20 Td (ede) Tj ET Q q 0 0 0 rg BT 293.59 153.20 Td (v) Tj ET Q q 0 0 0 rg BT 298.01 153.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 333.94 153.20 Td (t and e) Tj ET Q q 0 0 0 rg BT 361.93 153.20 Td (xpansions on s) Tj ET Q q 0 0 0 rg BT 421.05 153.20 Td (t) Tj ET Q q 0 0 0 rg BT 424.28 153.20 Td (able pr) Tj ET Q q 0 0 0 rg BT 452.43 153.20 Td (operties. Additionally) Tj ET Q q 0 0 0 rg BT 538.69 153.20 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 141.20 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 141.20 Td (operties under de) Tj ET Q q 0 0 0 rg BT 135.03 141.20 Td (v) Tj ET Q q 0 0 0 rg BT 139.44 141.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 175.37 141.20 Td (t includes land with futur) Tj ET Q q 0 0 0 rg BT 277.13 141.20 Td (e de) Tj ET Q q 0 0 0 rg BT 294.55 141.20 Td (v) Tj ET Q q 0 0 0 rg BT 298.97 141.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 334.89 141.20 Td (t pot) Tj ET Q q 0 0 0 rg BT 354.27 141.20 Td (en) Tj ET Q q 0 0 0 rg BT 364.41 141.20 Td (tial. All de) Tj ET Q q 0 0 0 rg BT 404.74 141.20 Td (v) Tj ET Q q 0 0 0 rg BT 409.16 141.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 445.08 141.20 Td (t activities ar) Tj ET Q q 0 0 0 rg BT 497.10 141.20 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 129.20 Td (s) Tj ET Q q 0 0 0 rg BT 57.80 129.20 Td (tr) Tj ET Q q 0 0 0 rg BT 64.43 129.20 Td (a) Tj ET Q q 0 0 0 rg BT 69.13 129.20 Td (t) Tj ET Q q 0 0 0 rg BT 72.37 129.20 Td (egic) Tj ET Q q 0 0 0 rg BT 88.49 129.20 Td (ally manag) Tj ET Q q 0 0 0 rg BT 132.11 129.20 Td (ed t) Tj ET Q q 0 0 0 rg BT 147.85 129.20 Td (o r) Tj ET Q q 0 0 0 rg BT 158.74 129.20 Td (educe risk, and pr) Tj ET Q q 0 0 0 rg BT 230.82 129.20 Td (operties ar) Tj ET Q q 0 0 0 rg BT 274.74 129.20 Td (e g) Tj ET Q q 0 0 0 rg BT 286.60 129.20 Td (ener) Tj ET Q q 0 0 0 rg BT 305.09 129.20 Td (ally de) Tj ET Q q 0 0 0 rg BT 331.44 129.20 Td (v) Tj ET Q q 0 0 0 rg BT 335.86 129.20 Td (eloped a) Tj ET Q q 0 0 0 rg BT 370.88 129.20 Td (ft) Tj ET Q q 0 0 0 rg BT 377.17 129.20 Td (er ob) Tj ET Q q 0 0 0 rg BT 398.38 129.20 Td (t) Tj ET Q q 0 0 0 rg BT 401.60 129.20 Td (aining anchor lease c) Tj ET Q q 0 0 0 rg BT 486.36 129.20 Td (ommitmen) Tj ET Q q 0 0 0 rg BT 531.38 129.20 Td (ts. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 117.20 Td (Individual buildings within a de) Tj ET Q q 0 0 0 rg BT 179.85 117.20 Td (v) Tj ET Q q 0 0 0 rg BT 184.27 117.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 220.20 117.20 Td (t ar) Tj ET Q q 0 0 0 rg BT 233.95 117.20 Td (e g) Tj ET Q q 0 0 0 rg BT 245.81 117.20 Td (ener) Tj ET Q q 0 0 0 rg BT 264.30 117.20 Td (ally c) Tj ET Q q 0 0 0 rg BT 284.61 117.20 Td (ons) Tj ET Q q 0 0 0 rg BT 298.94 117.20 Td (truct) Tj ET Q q 0 0 0 rg BT 318.50 117.20 Td (ed only a) Tj ET Q q 0 0 0 rg BT 355.33 117.20 Td (ft) Tj ET Q q 0 0 0 rg BT 361.62 117.20 Td (er ob) Tj ET Q q 0 0 0 rg BT 382.83 117.20 Td (t) Tj ET Q q 0 0 0 rg BT 386.06 117.20 Td (aining c) Tj ET Q q 0 0 0 rg BT 417.06 117.20 Td (ommitmen) Tj ET Q q 0 0 0 rg BT 462.08 117.20 Td (ts on a sub) Tj ET Q q 0 0 0 rg BT 505.81 117.20 Td (s) Tj ET Q q 0 0 0 rg BT 509.61 117.20 Td (t) Tj ET Q q 0 0 0 rg BT 512.83 117.20 Td (an) Tj ET Q q 0 0 0 rg BT 522.78 117.20 Td (tial ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 105.20 Td (portion of the space. ) Tj ET Q endstream endobj 47 0 obj <> endobj 48 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (22) Tj ET Q BT /F1 10.00 Tf ET BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 693.75 Td (De) Tj ET Q q 0 0 0 rg BT 66.25 693.75 Td (velopmen) Tj ET Q q 0 0 0 rg BT 111.06 693.75 Td (t Pipeline) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 678.75 Td (De) Tj ET Q q 0 0 0 rg BT 65.08 678.75 Td (v) Tj ET Q q 0 0 0 rg BT 69.50 678.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 105.42 678.75 Td (t and r) Tj ET Q q 0 0 0 rg BT 131.94 678.75 Td (ede) Tj ET Q q 0 0 0 rg BT 147.10 678.75 Td (v) Tj ET Q q 0 0 0 rg BT 151.52 678.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 187.44 678.75 Td (t pr) Tj ET Q q 0 0 0 rg BT 201.63 678.75 Td (ojects ma) Tj ET Q q 0 0 0 rg BT 240.62 678.75 Td (y occur in phases with a c) Tj ET Q q 0 0 0 rg BT 343.80 678.75 Td (omponen) Tj ET Q q 0 0 0 rg BT 382.98 678.75 Td (t of the pr) Tj ET Q q 0 0 0 rg BT 423.60 678.75 Td (oject c) Tj ET Q q 0 0 0 rg BT 450.23 678.75 Td (omple) Tj ET Q q 0 0 0 rg BT 475.96 678.75 Td (t) Tj ET Q q 0 0 0 rg BT 479.20 678.75 Td (ed and included in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 666.75 Td (inc) Tj ET Q q 0 0 0 rg BT 65.69 666.75 Td (ome pr) Tj ET Q q 0 0 0 rg BT 94.77 666.75 Td (oducing pr) Tj ET Q q 0 0 0 rg BT 137.88 666.75 Td (operties and the unc) Tj ET Q q 0 0 0 rg BT 221.71 666.75 Td (omple) Tj ET Q q 0 0 0 rg BT 247.44 666.75 Td (t) Tj ET Q q 0 0 0 rg BT 250.68 666.75 Td (ed c) Tj ET Q q 0 0 0 rg BT 267.32 666.75 Td (omponen) Tj ET Q q 0 0 0 rg BT 306.50 666.75 Td (t included in pr) Tj ET Q q 0 0 0 rg BT 367.57 666.75 Td (operties under de) Tj ET Q q 0 0 0 rg BT 440.02 666.75 Td (v) Tj ET Q q 0 0 0 rg BT 444.43 666.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 480.36 666.75 Td (t. As a) Tj ET Q q 0 0 0 rg BT 505.15 666.75 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 510.76 666.75 Td (Mar) Tj ET Q q 0 0 0 rg BT 527.44 666.75 Td (ch31, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 654.75 Td (2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.27 654.75 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 128.58 654.75 Td (y had ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 152.92 654.75 Td ($542 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 203.15 654.75 Td ( of pr) Tj ET Q q 0 0 0 rg BT 224.58 654.75 Td (operties under de) Tj ET Q q 0 0 0 rg BT 297.02 654.75 Td (v) Tj ET Q q 0 0 0 rg BT 301.44 654.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 337.36 654.75 Td (t a) Tj ET Q q 0 0 0 rg BT 347.67 654.75 Td (t in) Tj ET Q q 0 0 0 rg BT 360.67 654.75 Td (v) Tj ET Q q 0 0 0 rg BT 365.08 654.75 Td (es) Tj ET Q q 0 0 0 rg BT 373.86 654.75 Td (t) Tj ET Q q 0 0 0 rg BT 377.10 654.75 Td (ed c) Tj ET Q q 0 0 0 rg BT 393.74 654.75 Td (os) Tj ET Q q 0 0 0 rg BT 402.81 654.75 Td (t. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 639.75 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 639.75 Td (y has curr) Tj ET Q q 0 0 0 rg BT 144.40 639.75 Td (en) Tj ET Q q 0 0 0 rg BT 154.53 639.75 Td (tly iden) Tj ET Q q 0 0 0 rg BT 184.65 639.75 Td (tified ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 208.13 639.75 Td (2.8 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 250.75 639.75 Td ( squar) Tj ET Q q 0 0 0 rg BT 275.57 639.75 Td (e f) Tj ET Q q 0 0 0 rg BT 285.61 639.75 Td (ee) Tj ET Q q 0 0 0 rg BT 295.51 639.75 Td (t of additional GLA a) Tj ET Q q 0 0 0 rg BT 378.00 639.75 Td (v) Tj ET Q q 0 0 0 rg BT 382.37 639.75 Td (ailable in the portf) Tj ET Q q 0 0 0 rg BT 457.18 639.75 Td (olio f) Tj ET Q q 0 0 0 rg BT 477.42 639.75 Td (or futur) Tj ET Q q 0 0 0 rg BT 508.70 639.75 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 627.75 Td (de) Tj ET Q q 0 0 0 rg BT 64.18 627.75 Td (v) Tj ET Q q 0 0 0 rg BT 68.60 627.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 104.52 627.75 Td (t of r) Tj ET Q q 0 0 0 rg BT 124.07 627.75 Td (e) Tj ET Q q 0 0 0 rg BT 129.00 627.75 Td (t) Tj ET Q q 0 0 0 rg BT 132.22 627.75 Td (ail and mix) Tj ET Q q 0 0 0 rg BT 175.77 627.75 Td (ed-use space \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 233.92 627.75 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 313.38 627.75 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 322.88 627.75 Td (2.4 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 365.50 627.75 Td ( squar) Tj ET Q q 0 0 0 rg BT 390.32 627.75 Td (e f) Tj ET Q q 0 0 0 rg BT 400.36 627.75 Td (ee) Tj ET Q q 0 0 0 rg BT 410.26 627.75 Td (t\). This includes ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 475.75 627.75 Td (1.2 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 518.37 627.75 Td ( squar) Tj ET Q q 0 0 0 rg BT 543.19 627.75 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 615.75 Td (f) Tj ET Q q 0 0 0 rg BT 56.80 615.75 Td (ee) Tj ET Q q 0 0 0 rg BT 66.70 615.75 Td (t of de) Tj ET Q q 0 0 0 rg BT 93.08 615.75 Td (v) Tj ET Q q 0 0 0 rg BT 97.50 615.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 133.42 615.75 Td (t and r) Tj ET Q q 0 0 0 rg BT 159.94 615.75 Td (ede) Tj ET Q q 0 0 0 rg BT 175.10 615.75 Td (v) Tj ET Q q 0 0 0 rg BT 179.52 615.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 215.44 615.75 Td (t pr) Tj ET Q q 0 0 0 rg BT 229.63 615.75 Td (ojects curr) Tj ET Q q 0 0 0 rg BT 272.34 615.75 Td (en) Tj ET Q q 0 0 0 rg BT 282.48 615.75 Td (tly under) Tj ET Q q 0 0 0 rg BT 319.19 615.75 Td (w) Tj ET Q q 0 0 0 rg BT 326.23 615.75 Td (a) Tj ET Q q 0 0 0 rg BT 330.83 615.75 Td (y) Tj ET Q q 0 0 0 rg BT 334.70 615.75 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 597.75 Td (A br) Tj ET Q q 0 0 0 rg BT 70.66 597.75 Td (eak) Tj ET Q q 0 0 0 rg BT 84.69 597.75 Td (do) Tj ET Q q 0 0 0 rg BT 95.18 597.75 Td (wn of the De) Tj ET Q q 0 0 0 rg BT 147.35 597.75 Td (v) Tj ET Q q 0 0 0 rg BT 151.77 597.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 187.69 597.75 Td (t Pipeline b) Tj ET Q q 0 0 0 rg BT 233.28 597.75 Td (y c) Tj ET Q q 0 0 0 rg BT 244.21 597.75 Td (omponen) Tj ET Q q 0 0 0 rg BT 283.39 597.75 Td (ts is as f) Tj ET Q q 0 0 0 rg BT 315.18 597.75 Td (ollo) Tj ET Q q 0 0 0 rg BT 330.28 597.75 Td (w) Tj ET Q q 0 0 0 rg BT 337.34 597.75 Td (s:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 587.25 m 289.5 587.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 587.25 m 330.5 587.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 587.25 m 382.5 587.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 587.25 m 395.5 587.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 587.25 m 446.5 587.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 566.25 m 446.5 566.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 587.25 m 455.5 587.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 566.25 m 455.5 566.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 587.25 m 506.5 587.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455.5 566.25 m 506.5 566.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 587.25 m 557.5 587.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 566.25 m 557.5 566.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 543.25 m 289.5 543.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 289.5 543.25 m 330.5 543.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 543.25 m 382.5 543.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382.5 543.25 m 395.5 543.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 543.25 m 446.5 543.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 543.25 m 455.5 543.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455.5 543.25 m 506.5 543.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 543.25 m 557.5 543.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 478.25 m 446.5 478.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455.5 478.25 m 506.5 478.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 478.25 m 289.5 478.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 464.25 m 289.5 464.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 289.5 478.25 m 330.5 478.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 289.5 464.25 m 330.5 464.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 478.25 m 382.5 478.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 464.25 m 382.5 464.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382.5 478.25 m 395.5 478.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382.5 464.25 m 395.5 464.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 478.25 m 446.5 478.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 464.25 m 446.5 464.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 478.25 m 455.5 478.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 464.25 m 455.5 464.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455.5 478.25 m 506.5 478.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455.5 464.25 m 506.5 464.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 478.25 m 557.5 478.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 464.25 m 557.5 464.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455.5 422.25 m 506.5 422.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 422.25 m 557.5 422.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 422.25 m 289.5 422.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 289.5 422.25 m 330.5 422.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 422.25 m 382.5 422.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382.5 422.25 m 395.5 422.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 422.25 m 446.5 422.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 422.25 m 455.5 422.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455.5 422.25 m 506.5 422.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 422.25 m 557.5 422.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 408.25 m 289.5 408.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 394.25 m 289.5 394.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 289.5 408.25 m 330.5 408.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 394.25 m 330.5 394.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 408.25 m 382.5 408.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 394.25 m 382.5 394.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382.5 408.25 m 395.5 408.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 394.25 m 395.5 394.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 408.25 m 446.5 408.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 394.25 m 446.5 394.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 408.25 m 455.5 408.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 394.25 m 455.5 394.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455.5 408.25 m 506.5 408.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 394.25 m 506.5 394.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 408.25 m 557.5 408.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 394.25 m 557.5 394.25 l s BT /F3 7.00 Tf ET q 0 0 0 rg BT 296.20 554.50 Td (Number of) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 313.65 547.50 Td (Sites) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 339.35 554.50 Td (Squar) Tj ET Q q 0 0 0 rg BT 355.62 554.50 Td (e F) Tj ET Q q 0 0 0 rg BT 363.80 554.50 Td (ee) Tj ET Q q 0 0 0 rg BT 370.73 554.50 Td (t ) Tj ET Q BT /F3 6.00 Tf ET BT /F3 3.90 Tf ET q 0 0 0 rg BT 374.66 557.36 Td (\(1\)) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 379.00 554.50 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 338.30 547.50 Td (\(in thousands\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 456.95 577.50 Td (In) Tj ET Q q 0 0 0 rg BT 462.28 577.50 Td (v) Tj ET Q q 0 0 0 rg BT 465.37 577.50 Td (es) Tj ET Q q 0 0 0 rg BT 471.51 577.50 Td (t) Tj ET Q q 0 0 0 rg BT 473.78 577.50 Td (ed Cos) Tj ET Q q 0 0 0 rg BT 492.61 577.50 Td (t) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 459.35 570.50 Td (\(in millions\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 425.45 554.50 Td (Active) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 404.65 547.50 Td (Development) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 491.40 558.50 Td (Pre-) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 464.65 551.50 Td (Development) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 477.05 544.50 Td (Activities) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 540.30 547.50 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 534.00 Td (2015 Development and Redevelopment Activities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 520.00 Td (Same Property with incremental redevelopment and) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 511.00 Td (expansion) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 322.65 515.50 Td (6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 370.10 515.50 Td (67) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 398.00 515.50 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.10 515.50 Td (19) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 458.00 515.50 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 495.10 515.50 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.00 515.50 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 545.10 515.50 Td (19) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 497.00 Td (Major redevelopment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 322.65 497.00 Td (9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 365.55 497.00 Td (296) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.55 497.00 Td (159) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 494.10 497.00 Td (67) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 540.55 497.00 Td (226) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 483.00 Td (Ground-up development) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 322.65 483.00 Td (3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 365.55 483.00 Td (828) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.10 483.00 Td (82) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 494.10 483.00 Td (18) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 540.55 483.00 Td (100) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 469.00 Td (Total 2015 Development and Redevelopment Activities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 318.10 469.00 Td (18) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 358.75 469.00 Td (1,191) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 398.00 469.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.55 469.00 Td (260) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 458.00 469.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 494.10 469.00 Td (85) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.00 469.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 540.55 469.00 Td (345) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 455.00 Td (Land with Futur) Tj ET Q q 0 0 0 rg BT 115.85 455.00 Td (e De) Tj ET Q q 0 0 0 rg BT 132.58 455.00 Td (v) Tj ET Q q 0 0 0 rg BT 136.75 455.00 Td (elopmen) Tj ET Q q 0 0 0 rg BT 169.76 455.00 Td (t P) Tj ET Q q 0 0 0 rg BT 179.56 455.00 Td (ot) Tj ET Q q 0 0 0 rg BT 187.41 455.00 Td (en) Tj ET Q q 0 0 0 rg BT 196.68 455.00 Td (tial ) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 210.70 459.29 Td (\(2\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 441.00 Td (Land parcels in close proximity to/part of existing properties) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 318.10 441.00 Td (39) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 365.55 441.00 Td (809) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 398.00 441.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 435.10 441.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 458.00 441.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 489.55 441.00 Td (112) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.00 441.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 540.55 441.00 Td (112) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 427.00 Td (De) Tj ET Q q 0 0 0 rg BT 66.97 427.00 Td (v) Tj ET Q q 0 0 0 rg BT 70.95 427.00 Td (elopmen) Tj ET Q q 0 0 0 rg BT 103.28 427.00 Td (t land ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 126.20 431.29 Td (\(3\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 322.65 427.00 Td (6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 365.55 427.00 Td (842) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 435.10 427.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 494.10 427.00 Td (85) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 545.10 427.00 Td (85) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 413.00 Td (Total Land with Future Development Potential) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 318.10 413.00 Td (45) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 358.75 413.00 Td (1,651) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 435.10 413.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 489.55 413.00 Td (197) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 540.55 413.00 Td (197) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 399.00 Td (Total Development Pipeline) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 318.10 399.00 Td (63) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 358.75 399.00 Td (2,842) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 398.00 399.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.55 399.00 Td (260) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 458.00 399.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 489.55 399.00 Td (282) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.00 399.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 540.55 399.00 Td (542) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 386.09 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.06 382.75 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 382.75 Td (Includes both municipally appr) Tj ET Q q 0 0 0 rg BT 150.29 382.75 Td (o) Tj ET Q q 0 0 0 rg BT 153.95 382.75 Td (v) Tj ET Q q 0 0 0 rg BT 157.05 382.75 Td (ed de) Tj ET Q q 0 0 0 rg BT 172.92 382.75 Td (v) Tj ET Q q 0 0 0 rg BT 176.01 382.75 Td (elopable c) Tj ET Q q 0 0 0 rg BT 205.07 382.75 Td (ommer) Tj ET Q q 0 0 0 rg BT 225.77 382.75 Td (cial squar) Tj ET Q q 0 0 0 rg BT 252.67 382.75 Td (e f) Tj ET Q q 0 0 0 rg BT 259.70 382.75 Td (ee) Tj ET Q q 0 0 0 rg BT 266.63 382.75 Td (t and squar) Tj ET Q q 0 0 0 rg BT 298.64 382.75 Td (e f) Tj ET Q q 0 0 0 rg BT 305.67 382.75 Td (ee) Tj ET Q q 0 0 0 rg BT 312.59 382.75 Td (t the Compan) Tj ET Q q 0 0 0 rg BT 351.20 382.75 Td (y e) Tj ET Q q 0 0 0 rg BT 359.33 382.75 Td (xpects t) Tj ET Q q 0 0 0 rg BT 381.42 382.75 Td (o be appr) Tj ET Q q 0 0 0 rg BT 408.48 382.75 Td (o) Tj ET Q q 0 0 0 rg BT 412.14 382.75 Td (v) Tj ET Q q 0 0 0 rg BT 415.23 382.75 Td (ed, e) Tj ET Q q 0 0 0 rg BT 429.10 382.75 Td (x) Tj ET Q q 0 0 0 rg BT 431.97 382.75 Td (cluding r) Tj ET Q q 0 0 0 rg BT 456.40 382.75 Td (esiden) Tj ET Q q 0 0 0 rg BT 475.01 382.75 Td (tial density un) Tj ET Q q 0 0 0 rg BT 515.07 382.75 Td (til the z) Tj ET Q q 0 0 0 rg BT 535.91 382.75 Td (oning ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 374.35 Td (pr) Tj ET Q q 0 0 0 rg BT 69.01 374.35 Td (ocess is c) Tj ET Q q 0 0 0 rg BT 95.03 374.35 Td (omple) Tj ET Q q 0 0 0 rg BT 113.04 374.35 Td (t) Tj ET Q q 0 0 0 rg BT 115.31 374.35 Td (e.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 369.29 Td (\(2\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 365.95 Td (Cert) Tj ET Q q 0 0 0 rg BT 74.92 365.95 Td (ain land par) Tj ET Q q 0 0 0 rg BT 108.40 365.95 Td (cels ar) Tj ET Q q 0 0 0 rg BT 126.47 365.95 Td (e in v) Tj ET Q q 0 0 0 rg BT 141.46 365.95 Td (arious s) Tj ET Q q 0 0 0 rg BT 163.21 365.95 Td (t) Tj ET Q q 0 0 0 rg BT 165.47 365.95 Td (ag) Tj ET Q q 0 0 0 rg BT 172.06 365.95 Td (es of pr) Tj ET Q q 0 0 0 rg BT 193.30 365.95 Td (e-de) Tj ET Q q 0 0 0 rg BT 206.05 365.95 Td (v) Tj ET Q q 0 0 0 rg BT 209.15 365.95 Td (elopmen) Tj ET Q q 0 0 0 rg BT 234.29 365.95 Td (t activities. Futur) Tj ET Q q 0 0 0 rg BT 282.04 365.95 Td (e de) Tj ET Q q 0 0 0 rg BT 294.23 365.95 Td (v) Tj ET Q q 0 0 0 rg BT 297.32 365.95 Td (elopmen) Tj ET Q q 0 0 0 rg BT 322.47 365.95 Td (t pot) Tj ET Q q 0 0 0 rg BT 336.03 365.95 Td (en) Tj ET Q q 0 0 0 rg BT 343.13 365.95 Td (tial does not include pr) Tj ET Q q 0 0 0 rg BT 408.37 365.95 Td (operties classified as R) Tj ET Q q 0 0 0 rg BT 472.25 365.95 Td (esiden) Tj ET Q q 0 0 0 rg BT 490.85 365.95 Td (tial De) Tj ET Q q 0 0 0 rg BT 509.10 365.95 Td (v) Tj ET Q q 0 0 0 rg BT 512.20 365.95 Td (elopmen) Tj ET Q q 0 0 0 rg BT 537.34 365.95 Td (t ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 357.60 Td (In) Tj ET Q q 0 0 0 rg BT 68.33 357.60 Td (v) Tj ET Q q 0 0 0 rg BT 71.42 357.60 Td (en) Tj ET Q q 0 0 0 rg BT 78.51 357.60 Td (t) Tj ET Q q 0 0 0 rg BT 80.79 357.60 Td (or) Tj ET Q q 0 0 0 rg BT 86.96 357.60 Td (y and Main and Main De) Tj ET Q q 0 0 0 rg BT 156.45 357.60 Td (v) Tj ET Q q 0 0 0 rg BT 159.55 357.60 Td (elopmen) Tj ET Q q 0 0 0 rg BT 184.69 357.60 Td (ts.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 352.54 Td (\(3\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 349.20 Td (One land par) Tj ET Q q 0 0 0 rg BT 99.64 349.20 Td (cel with futur) Tj ET Q q 0 0 0 rg BT 137.68 349.20 Td (e de) Tj ET Q q 0 0 0 rg BT 149.87 349.20 Td (v) Tj ET Q q 0 0 0 rg BT 152.96 349.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 178.11 349.20 Td (t pot) Tj ET Q q 0 0 0 rg BT 191.67 349.20 Td (en) Tj ET Q q 0 0 0 rg BT 198.77 349.20 Td (tial of 97,000 squar) Tj ET Q q 0 0 0 rg BT 253.53 349.20 Td (e f) Tj ET Q q 0 0 0 rg BT 260.56 349.20 Td (ee) Tj ET Q q 0 0 0 rg BT 267.49 349.20 Td (t is included in in) Tj ET Q q 0 0 0 rg BT 315.33 349.20 Td (v) Tj ET Q q 0 0 0 rg BT 318.42 349.20 Td (es) Tj ET Q q 0 0 0 rg BT 324.56 349.20 Td (tmen) Tj ET Q q 0 0 0 rg BT 339.60 349.20 Td (t pr) Tj ET Q q 0 0 0 rg BT 349.53 349.20 Td (operties held f) Tj ET Q q 0 0 0 rg BT 390.59 349.20 Td (or sale.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 331.20 Td (During the fir) Tj ET Q q 0 0 0 rg BT 107.91 331.20 Td (s) Tj ET Q q 0 0 0 rg BT 111.71 331.20 Td (t quart) Tj ET Q q 0 0 0 rg BT 139.35 331.20 Td (er of 2015, the Compan) Tj ET Q q 0 0 0 rg BT 235.23 331.20 Td (y had t) Tj ET Q q 0 0 0 rg BT 262.82 331.20 Td (enan) Tj ET Q q 0 0 0 rg BT 283.00 331.20 Td (t closur) Tj ET Q q 0 0 0 rg BT 312.93 331.20 Td (es f) Tj ET Q q 0 0 0 rg BT 326.92 331.20 Td (or r) Tj ET Q q 0 0 0 rg BT 341.29 331.20 Td (ede) Tj ET Q q 0 0 0 rg BT 356.45 331.20 Td (v) Tj ET Q q 0 0 0 rg BT 360.87 331.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 396.79 331.20 Td (t of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.98 331.20 Td (55,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 440.82 331.20 Td ( squar) Tj ET Q q 0 0 0 rg BT 465.65 331.20 Td (e f) Tj ET Q q 0 0 0 rg BT 475.68 331.20 Td (ee) Tj ET Q q 0 0 0 rg BT 485.58 331.20 Td (t a) Tj ET Q q 0 0 0 rg BT 495.89 331.20 Td (t an a) Tj ET Q q 0 0 0 rg BT 518.43 331.20 Td (v) Tj ET Q q 0 0 0 rg BT 522.85 331.20 Td (er) Tj ET Q q 0 0 0 rg BT 531.10 331.20 Td (ag) Tj ET Q q 0 0 0 rg BT 540.52 331.20 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 319.20 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 319.20 Td (en) Tj ET Q q 0 0 0 rg BT 67.49 319.20 Td (t) Tj ET Q q 0 0 0 rg BT 70.72 319.20 Td (al r) Tj ET Q q 0 0 0 rg BT 83.35 319.20 Td (a) Tj ET Q q 0 0 0 rg BT 88.04 319.20 Td (t) Tj ET Q q 0 0 0 rg BT 91.29 319.20 Td (e of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 109.11 319.20 Td ($16.47) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 136.97 319.20 Td ( per squar) Tj ET Q q 0 0 0 rg BT 177.77 319.20 Td (e f) Tj ET Q q 0 0 0 rg BT 187.85 319.20 Td (oot. Of this ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 235.54 319.20 Td (55,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 263.38 319.20 Td ( squar) Tj ET Q q 0 0 0 rg BT 288.20 319.20 Td (e f) Tj ET Q q 0 0 0 rg BT 298.24 319.20 Td (ee) Tj ET Q q 0 0 0 rg BT 308.14 319.20 Td (t, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 316.24 319.20 Td (33,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 344.08 319.20 Td ( squar) Tj ET Q q 0 0 0 rg BT 368.90 319.20 Td (e f) Tj ET Q q 0 0 0 rg BT 378.94 319.20 Td (ee) Tj ET Q q 0 0 0 rg BT 388.84 319.20 Td (t w) Tj ET Q q 0 0 0 rg BT 401.49 319.20 Td (as demolished during the quart) Tj ET Q q 0 0 0 rg BT 528.56 319.20 Td (er) Tj ET Q q 0 0 0 rg BT 536.02 319.20 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 301.20 Td (As a) Tj ET Q q 0 0 0 rg BT 70.66 301.20 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 76.27 301.20 Td (Mar) Tj ET Q q 0 0 0 rg BT 92.95 301.20 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 139.85 301.20 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 194.16 301.20 Td (y had ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 218.50 301.20 Td (168,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 251.41 301.20 Td ( squar) Tj ET Q q 0 0 0 rg BT 276.23 301.20 Td (e f) Tj ET Q q 0 0 0 rg BT 286.27 301.20 Td (ee) Tj ET Q q 0 0 0 rg BT 296.17 301.20 Td (t of v) Tj ET Q q 0 0 0 rg BT 316.73 301.20 Td (ac) Tj ET Q q 0 0 0 rg BT 325.67 301.20 Td (an) Tj ET Q q 0 0 0 rg BT 335.62 301.20 Td (t space \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 369.68 301.20 Td (0.5%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 389.49 301.20 Td ( v) Tj ET Q q 0 0 0 rg BT 396.12 301.20 Td (ac) Tj ET Q q 0 0 0 rg BT 405.06 301.20 Td (ancy\) being held primarily f) Tj ET Q q 0 0 0 rg BT 515.46 301.20 Td (or major ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 289.20 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 289.20 Td (ede) Tj ET Q q 0 0 0 rg BT 72.51 289.20 Td (v) Tj ET Q q 0 0 0 rg BT 76.93 289.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 112.85 289.20 Td (t and e) Tj ET Q q 0 0 0 rg BT 140.85 289.20 Td (xpansion pr) Tj ET Q q 0 0 0 rg BT 188.05 289.20 Td (ojects in v) Tj ET Q q 0 0 0 rg BT 228.62 289.20 Td (arious s) Tj ET Q q 0 0 0 rg BT 259.69 289.20 Td (t) Tj ET Q q 0 0 0 rg BT 262.92 289.20 Td (ag) Tj ET Q q 0 0 0 rg BT 272.33 289.20 Td (es of pr) Tj ET Q q 0 0 0 rg BT 302.67 289.20 Td (e-de) Tj ET Q q 0 0 0 rg BT 320.89 289.20 Td (v) Tj ET Q q 0 0 0 rg BT 325.31 289.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 361.23 289.20 Td (t activities. This 168,000 squar) Tj ET Q q 0 0 0 rg BT 483.96 289.20 Td (e f) Tj ET Q q 0 0 0 rg BT 494.00 289.20 Td (ee) Tj ET Q q 0 0 0 rg BT 503.89 289.20 Td (t is in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 277.20 Td (addition t) Tj ET Q q 0 0 0 rg BT 93.28 277.20 Td (o the Compan) Tj ET Q q 0 0 0 rg BT 150.36 277.20 Td (y's de) Tj ET Q q 0 0 0 rg BT 173.44 277.20 Td (v) Tj ET Q q 0 0 0 rg BT 177.86 277.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 213.79 277.20 Td (t pipeline.) Tj ET Q endstream endobj 49 0 obj <> endobj 50 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (23) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F6 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 693.75 Td (2015 De) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 91.03 693.75 Td (velopmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 135.85 693.75 Td (t and R) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 168.08 693.75 Td (ede) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 184.60 693.75 Td (velopmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 229.42 693.75 Td (t Coming Online) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 675.75 Td (De) Tj ET Q q 0 0 0 rg BT 65.08 675.75 Td (v) Tj ET Q q 0 0 0 rg BT 69.50 675.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 105.42 675.75 Td (t and r) Tj ET Q q 0 0 0 rg BT 131.94 675.75 Td (ede) Tj ET Q q 0 0 0 rg BT 147.10 675.75 Td (v) Tj ET Q q 0 0 0 rg BT 151.52 675.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 187.44 675.75 Td (t c) Tj ET Q q 0 0 0 rg BT 197.20 675.75 Td (oming online includes both leased and unleased space br) Tj ET Q q 0 0 0 rg BT 428.69 675.75 Td (ough) Tj ET Q q 0 0 0 rg BT 449.09 675.75 Td (t online a) Tj ET Q q 0 0 0 rg BT 487.00 675.75 Td (t c) Tj ET Q q 0 0 0 rg BT 496.76 675.75 Td (omple) Tj ET Q q 0 0 0 rg BT 522.49 675.75 Td (tion ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 663.75 Td (of c) Tj ET Q q 0 0 0 rg BT 68.73 663.75 Td (ons) Tj ET Q q 0 0 0 rg BT 83.06 663.75 Td (truction. The Compan) Tj ET Q q 0 0 0 rg BT 171.40 663.75 Td (y) Tj ET Q q 0 0 0 rg BT 176.23 663.75 Td () Tj ET Q q 0 0 0 rg BT 178.12 663.75 Td (s c) Tj ET Q q 0 0 0 rg BT 188.43 663.75 Td (omple) Tj ET Q q 0 0 0 rg BT 214.17 663.75 Td (t) Tj ET Q q 0 0 0 rg BT 217.41 663.75 Td (ed de) Tj ET Q q 0 0 0 rg BT 240.08 663.75 Td (v) Tj ET Q q 0 0 0 rg BT 244.50 663.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 280.42 663.75 Td (t pr) Tj ET Q q 0 0 0 rg BT 294.61 663.75 Td (ojects illus) Tj ET Q q 0 0 0 rg BT 336.94 663.75 Td (tr) Tj ET Q q 0 0 0 rg BT 343.57 663.75 Td (a) Tj ET Q q 0 0 0 rg BT 348.27 663.75 Td (t) Tj ET Q q 0 0 0 rg BT 351.51 663.75 Td (e the pot) Tj ET Q q 0 0 0 rg BT 388.36 663.75 Td (en) Tj ET Q q 0 0 0 rg BT 398.49 663.75 Td (tial futur) Tj ET Q q 0 0 0 rg BT 433.75 663.75 Td (e v) Tj ET Q q 0 0 0 rg BT 445.35 663.75 Td (alue of in) Tj ET Q q 0 0 0 rg BT 482.90 663.75 Td (v) Tj ET Q q 0 0 0 rg BT 487.32 663.75 Td (es) Tj ET Q q 0 0 0 rg BT 496.09 663.75 Td (tmen) Tj ET Q q 0 0 0 rg BT 517.56 663.75 Td (ts in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 651.75 Td (ong) Tj ET Q q 0 0 0 rg BT 69.17 651.75 Td (oing de) Tj ET Q q 0 0 0 rg BT 99.14 651.75 Td (v) Tj ET Q q 0 0 0 rg BT 103.56 651.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 139.48 651.75 Td (t initia) Tj ET Q q 0 0 0 rg BT 165.27 651.75 Td (tiv) Tj ET Q q 0 0 0 rg BT 175.34 651.75 Td (es tha) Tj ET Q q 0 0 0 rg BT 199.79 651.75 Td (t ar) Tj ET Q q 0 0 0 rg BT 213.54 651.75 Td (e not y) Tj ET Q q 0 0 0 rg BT 241.32 651.75 Td (e) Tj ET Q q 0 0 0 rg BT 246.24 651.75 Td (t g) Tj ET Q q 0 0 0 rg BT 256.48 651.75 Td (ener) Tj ET Q q 0 0 0 rg BT 274.96 651.75 Td (a) Tj ET Q q 0 0 0 rg BT 279.66 651.75 Td (ting inc) Tj ET Q q 0 0 0 rg BT 309.22 651.75 Td (ome, but ar) Tj ET Q q 0 0 0 rg BT 356.48 651.75 Td (e e) Tj ET Q q 0 0 0 rg BT 368.54 651.75 Td (xpect) Tj ET Q q 0 0 0 rg BT 390.57 651.75 Td (ed t) Tj ET Q q 0 0 0 rg BT 406.31 651.75 Td (o c) Tj ET Q q 0 0 0 rg BT 417.99 651.75 Td (on) Tj ET Q q 0 0 0 rg BT 428.42 651.75 Td (tribut) Tj ET Q q 0 0 0 rg BT 451.30 651.75 Td (e t) Tj ET Q q 0 0 0 rg BT 461.79 651.75 Td (o the gr) Tj ET Q q 0 0 0 rg BT 493.20 651.75 Td (o) Tj ET Q q 0 0 0 rg BT 498.43 651.75 Td (w) Tj ET Q q 0 0 0 rg BT 505.60 651.75 Td (th of the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 639.75 Td (Compan) Tj ET Q q 0 0 0 rg BT 87.71 639.75 Td (y) Tj ET Q q 0 0 0 rg BT 91.57 639.75 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 621.75 Td (During the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.25 621.75 Td (thr) Tj ET Q q 0 0 0 rg BT 111.21 621.75 Td (ee mon) Tj ET Q q 0 0 0 rg BT 141.84 621.75 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 201.27 621.75 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.18 621.75 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 302.48 621.75 Td (y c) Tj ET Q q 0 0 0 rg BT 313.41 621.75 Td (omple) Tj ET Q q 0 0 0 rg BT 339.15 621.75 Td (t) Tj ET Q q 0 0 0 rg BT 342.39 621.75 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 354.88 621.75 Td (53,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 382.72 621.75 Td ( squar) Tj ET Q q 0 0 0 rg BT 407.54 621.75 Td (e f) Tj ET Q q 0 0 0 rg BT 417.58 621.75 Td (ee) Tj ET Q q 0 0 0 rg BT 427.48 621.75 Td (t in de) Tj ET Q q 0 0 0 rg BT 453.08 621.75 Td (v) Tj ET Q q 0 0 0 rg BT 457.50 621.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 493.42 621.75 Td (t and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 609.75 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 609.75 Td (ede) Tj ET Q q 0 0 0 rg BT 72.51 609.75 Td (v) Tj ET Q q 0 0 0 rg BT 76.93 609.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 112.85 609.75 Td (t activities. During the period ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 233.30 609.75 Td (42,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 261.14 609.75 Td ( squar) Tj ET Q q 0 0 0 rg BT 285.96 609.75 Td (e f) Tj ET Q q 0 0 0 rg BT 296.00 609.75 Td (ee) Tj ET Q q 0 0 0 rg BT 305.90 609.75 Td (t of this space w) Tj ET Q q 0 0 0 rg BT 371.62 609.75 Td (as occupied a) Tj ET Q q 0 0 0 rg BT 426.30 609.75 Td (t an a) Tj ET Q q 0 0 0 rg BT 448.84 609.75 Td (v) Tj ET Q q 0 0 0 rg BT 453.26 609.75 Td (er) Tj ET Q q 0 0 0 rg BT 461.52 609.75 Td (ag) Tj ET Q q 0 0 0 rg BT 470.93 609.75 Td (e r) Tj ET Q q 0 0 0 rg BT 481.52 609.75 Td (en) Tj ET Q q 0 0 0 rg BT 491.66 609.75 Td (t) Tj ET Q q 0 0 0 rg BT 494.89 609.75 Td (al r) Tj ET Q q 0 0 0 rg BT 507.52 609.75 Td (a) Tj ET Q q 0 0 0 rg BT 512.21 609.75 Td (t) Tj ET Q q 0 0 0 rg BT 515.46 609.75 Td (e of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 597.75 Td ($34.99) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 81.87 597.75 Td ( per squar) Tj ET Q q 0 0 0 rg BT 122.67 597.75 Td (e f) Tj ET Q q 0 0 0 rg BT 132.75 597.75 Td (oot, and the r) Tj ET Q q 0 0 0 rg BT 188.15 597.75 Td (emainder is e) Tj ET Q q 0 0 0 rg BT 242.72 597.75 Td (xpect) Tj ET Q q 0 0 0 rg BT 264.75 597.75 Td (ed t) Tj ET Q q 0 0 0 rg BT 280.49 597.75 Td (o be leased in the ne) Tj ET Q q 0 0 0 rg BT 364.71 597.75 Td (x) Tj ET Q q 0 0 0 rg BT 369.07 597.75 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 374.68 597.75 Td (12) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.82 597.75 Td ( mon) Tj ET Q q 0 0 0 rg BT 405.50 597.75 Td (ths. The a) Tj ET Q q 0 0 0 rg BT 444.79 597.75 Td (v) Tj ET Q q 0 0 0 rg BT 449.21 597.75 Td (er) Tj ET Q q 0 0 0 rg BT 457.46 597.75 Td (ag) Tj ET Q q 0 0 0 rg BT 466.88 597.75 Td (e lease r) Tj ET Q q 0 0 0 rg BT 500.60 597.75 Td (a) Tj ET Q q 0 0 0 rg BT 505.30 597.75 Td (t) Tj ET Q q 0 0 0 rg BT 508.54 597.75 Td (e on the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 585.75 Td (space w) Tj ET Q q 0 0 0 rg BT 86.46 585.75 Td (as abo) Tj ET Q q 0 0 0 rg BT 112.69 585.75 Td (v) Tj ET Q q 0 0 0 rg BT 117.11 585.75 Td (e the a) Tj ET Q q 0 0 0 rg BT 144.81 585.75 Td (v) Tj ET Q q 0 0 0 rg BT 149.23 585.75 Td (er) Tj ET Q q 0 0 0 rg BT 157.49 585.75 Td (ag) Tj ET Q q 0 0 0 rg BT 166.90 585.75 Td (e r) Tj ET Q q 0 0 0 rg BT 177.42 585.75 Td (a) Tj ET Q q 0 0 0 rg BT 182.12 585.75 Td (t) Tj ET Q q 0 0 0 rg BT 185.36 585.75 Td (e f) Tj ET Q q 0 0 0 rg BT 195.44 585.75 Td (or the portf) Tj ET Q q 0 0 0 rg BT 242.50 585.75 Td (olio) Tj ET Q q 0 0 0 rg BT 257.46 585.75 Td (, thus r) Tj ET Q q 0 0 0 rg BT 285.60 585.75 Td (ealizing on the gr) Tj ET Q q 0 0 0 rg BT 355.08 585.75 Td (o) Tj ET Q q 0 0 0 rg BT 360.31 585.75 Td (w) Tj ET Q q 0 0 0 rg BT 367.48 585.75 Td (th pot) Tj ET Q q 0 0 0 rg BT 392.12 585.75 Td (en) Tj ET Q q 0 0 0 rg BT 402.25 585.75 Td (tial thr) Tj ET Q q 0 0 0 rg BT 429.17 585.75 Td (ough de) Tj ET Q q 0 0 0 rg BT 462.10 585.75 Td (v) Tj ET Q q 0 0 0 rg BT 466.52 585.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 502.44 585.75 Td (t and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 573.75 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 573.75 Td (ede) Tj ET Q q 0 0 0 rg BT 72.51 573.75 Td (v) Tj ET Q q 0 0 0 rg BT 76.93 573.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 112.85 573.75 Td (t activities.) Tj ET Q BT /F6 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 554.55 Td (2015) Tj ET Q BT /F6 11.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 76.30 554.55 Td ( De) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 91.03 554.55 Td (velopmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 135.85 554.55 Td (t and R) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 168.08 554.55 Td (ede) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 184.60 554.55 Td (velopmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 229.42 554.55 Td (t Activities) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 539.55 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 539.55 Td (y) Tj ET Q q 0 0 0 rg BT 109.90 539.55 Td () Tj ET Q q 0 0 0 rg BT 111.78 539.55 Td (s pr) Tj ET Q q 0 0 0 rg BT 126.53 539.55 Td (operties with de) Tj ET Q q 0 0 0 rg BT 192.80 539.55 Td (v) Tj ET Q q 0 0 0 rg BT 197.22 539.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 233.15 539.55 Td (t and r) Tj ET Q q 0 0 0 rg BT 259.67 539.55 Td (ede) Tj ET Q q 0 0 0 rg BT 274.83 539.55 Td (v) Tj ET Q q 0 0 0 rg BT 279.24 539.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 315.17 539.55 Td (t activities curr) Tj ET Q q 0 0 0 rg BT 375.37 539.55 Td (en) Tj ET Q q 0 0 0 rg BT 385.50 539.55 Td (tly in pr) Tj ET Q q 0 0 0 rg BT 416.32 539.55 Td (ogr) Tj ET Q q 0 0 0 rg BT 429.66 539.55 Td (ess or a) Tj ET Q q 0 0 0 rg BT 460.44 539.55 Td (t c) Tj ET Q q 0 0 0 rg BT 470.19 539.55 Td (omple) Tj ET Q q 0 0 0 rg BT 495.92 539.55 Td (tion ar) Tj ET Q q 0 0 0 rg BT 522.50 539.55 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 527.55 Td (e) Tj ET Q q 0 0 0 rg BT 58.82 527.55 Td (xpect) Tj ET Q q 0 0 0 rg BT 80.86 527.55 Td (ed t) Tj ET Q q 0 0 0 rg BT 96.60 527.55 Td (o ha) Tj ET Q q 0 0 0 rg BT 114.01 527.55 Td (v) Tj ET Q q 0 0 0 rg BT 118.43 527.55 Td (e a w) Tj ET Q q 0 0 0 rg BT 139.78 527.55 Td (eigh) Tj ET Q q 0 0 0 rg BT 156.92 527.55 Td (t) Tj ET Q q 0 0 0 rg BT 160.16 527.55 Td (ed a) Tj ET Q q 0 0 0 rg BT 177.27 527.55 Td (v) Tj ET Q q 0 0 0 rg BT 181.69 527.55 Td (er) Tj ET Q q 0 0 0 rg BT 189.95 527.55 Td (ag) Tj ET Q q 0 0 0 rg BT 199.36 527.55 Td (e g) Tj ET Q q 0 0 0 rg BT 211.24 527.55 Td (oing-in NOI yield of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 291.69 527.55 Td (5.5%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 311.50 527.55 Td ( on c) Tj ET Q q 0 0 0 rg BT 330.69 527.55 Td (omple) Tj ET Q q 0 0 0 rg BT 356.42 527.55 Td (tion, and r) Tj ET Q q 0 0 0 rg BT 398.19 527.55 Td (ang) Tj ET Q q 0 0 0 rg BT 412.86 527.55 Td (e fr) Tj ET Q q 0 0 0 rg BT 426.47 527.55 Td (om ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 441.99 527.55 Td (4.7% t) Tj ET Q q 0 0 0 rg BT 467.32 527.55 Td (o 8.5%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 494.66 527.55 Td (. This yield is ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 515.55 Td (deriv) Tj ET Q q 0 0 0 rg BT 74.43 515.55 Td (ed fr) Tj ET Q q 0 0 0 rg BT 93.30 515.55 Td (om the e) Tj ET Q q 0 0 0 rg BT 129.48 515.55 Td (xpect) Tj ET Q q 0 0 0 rg BT 151.51 515.55 Td (ed g) Tj ET Q q 0 0 0 rg BT 168.64 515.55 Td (oing-in run r) Tj ET Q q 0 0 0 rg BT 218.58 515.55 Td (a) Tj ET Q q 0 0 0 rg BT 223.28 515.55 Td (t) Tj ET Q q 0 0 0 rg BT 226.52 515.55 Td (e based on s) Tj ET Q q 0 0 0 rg BT 276.79 515.55 Td (t) Tj ET Q q 0 0 0 rg BT 280.02 515.55 Td (abiliz) Tj ET Q q 0 0 0 rg BT 300.67 515.55 Td (ed leasing and oper) Tj ET Q q 0 0 0 rg BT 379.99 515.55 Td (a) Tj ET Q q 0 0 0 rg BT 384.69 515.55 Td (tions f) Tj ET Q q 0 0 0 rg BT 409.87 515.55 Td (ollo) Tj ET Q q 0 0 0 rg BT 424.97 515.55 Td (wing c) Tj ET Q q 0 0 0 rg BT 450.78 515.55 Td (omple) Tj ET Q q 0 0 0 rg BT 476.51 515.55 Td (tion of the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 503.55 Td (de) Tj ET Q q 0 0 0 rg BT 64.18 503.55 Td (v) Tj ET Q q 0 0 0 rg BT 68.60 503.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 104.52 503.55 Td (t, and includes all building c) Tj ET Q q 0 0 0 rg BT 216.57 503.55 Td (os) Tj ET Q q 0 0 0 rg BT 225.64 503.55 Td (t, land c) Tj ET Q q 0 0 0 rg BT 257.75 503.55 Td (os) Tj ET Q q 0 0 0 rg BT 266.82 503.55 Td (t, in) Tj ET Q q 0 0 0 rg BT 282.38 503.55 Td (t) Tj ET Q q 0 0 0 rg BT 285.62 503.55 Td (er) Tj ET Q q 0 0 0 rg BT 293.95 503.55 Td (es) Tj ET Q q 0 0 0 rg BT 302.73 503.55 Td (t and other c) Tj ET Q q 0 0 0 rg BT 354.64 503.55 Td (arr) Tj ET Q q 0 0 0 rg BT 366.45 503.55 Td (ying c) Tj ET Q q 0 0 0 rg BT 389.64 503.55 Td (os) Tj ET Q q 0 0 0 rg BT 398.71 503.55 Td (ts as w) Tj ET Q q 0 0 0 rg BT 426.26 503.55 Td (ell as c) Tj ET Q q 0 0 0 rg BT 453.19 503.55 Td (apit) Tj ET Q q 0 0 0 rg BT 468.76 503.55 Td (aliz) Tj ET Q q 0 0 0 rg BT 481.86 503.55 Td (ed s) Tj ET Q q 0 0 0 rg BT 498.15 503.55 Td (t) Tj ET Q q 0 0 0 rg BT 501.38 503.55 Td (a) Tj ET Q q 0 0 0 rg BT 506.11 503.55 Td (f) Tj ET Q q 0 0 0 rg BT 509.06 503.55 Td (f ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 491.55 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 491.55 Td (ompensa) Tj ET Q q 0 0 0 rg BT 95.50 491.55 Td (tion and other e) Tj ET Q q 0 0 0 rg BT 160.91 491.55 Td (xpenses. Ho) Tj ET Q q 0 0 0 rg BT 209.78 491.55 Td (w) Tj ET Q q 0 0 0 rg BT 216.84 491.55 Td (e) Tj ET Q q 0 0 0 rg BT 221.76 491.55 Td (v) Tj ET Q q 0 0 0 rg BT 226.18 491.55 Td (er) Tj ET Q q 0 0 0 rg BT 233.79 491.55 Td (, actual r) Tj ET Q q 0 0 0 rg BT 268.79 491.55 Td (a) Tj ET Q q 0 0 0 rg BT 273.49 491.55 Td (t) Tj ET Q q 0 0 0 rg BT 276.73 491.55 Td (es of r) Tj ET Q q 0 0 0 rg BT 301.82 491.55 Td (e) Tj ET Q q 0 0 0 rg BT 306.74 491.55 Td (turn c) Tj ET Q q 0 0 0 rg BT 330.49 491.55 Td (ould dif) Tj ET Q q 0 0 0 rg BT 361.33 491.55 Td (f) Tj ET Q q 0 0 0 rg BT 364.13 491.55 Td (er if de) Tj ET Q q 0 0 0 rg BT 392.64 491.55 Td (v) Tj ET Q q 0 0 0 rg BT 397.06 491.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 432.98 491.55 Td (t c) Tj ET Q q 0 0 0 rg BT 442.74 491.55 Td (os) Tj ET Q q 0 0 0 rg BT 451.81 491.55 Td (ts e) Tj ET Q q 0 0 0 rg BT 466.16 491.55 Td (x) Tj ET Q q 0 0 0 rg BT 470.26 491.55 Td (ceed curr) Tj ET Q q 0 0 0 rg BT 508.28 491.55 Td (en) Tj ET Q q 0 0 0 rg BT 518.42 491.55 Td (tly ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 479.55 Td (f) Tj ET Q q 0 0 0 rg BT 56.84 479.55 Td (or) Tj ET Q q 0 0 0 rg BT 65.47 479.55 Td (ec) Tj ET Q q 0 0 0 rg BT 74.59 479.55 Td (as) Tj ET Q q 0 0 0 rg BT 83.18 479.55 Td (t c) Tj ET Q q 0 0 0 rg BT 92.94 479.55 Td (os) Tj ET Q q 0 0 0 rg BT 102.01 479.55 Td (ts, if final lease t) Tj ET Q q 0 0 0 rg BT 168.03 479.55 Td (erms include shortf) Tj ET Q q 0 0 0 rg BT 246.60 479.55 Td (alls fr) Tj ET Q q 0 0 0 rg BT 268.53 479.55 Td (om oper) Tj ET Q q 0 0 0 rg BT 302.83 479.55 Td (a) Tj ET Q q 0 0 0 rg BT 307.53 479.55 Td (ting c) Tj ET Q q 0 0 0 rg BT 329.54 479.55 Td (os) Tj ET Q q 0 0 0 rg BT 338.61 479.55 Td (t or pr) Tj ET Q q 0 0 0 rg BT 363.82 479.55 Td (operty t) Tj ET Q q 0 0 0 rg BT 396.18 479.55 Td (a) Tj ET Q q 0 0 0 rg BT 400.88 479.55 Td (x r) Tj ET Q q 0 0 0 rg BT 410.82 479.55 Td (ec) Tj ET Q q 0 0 0 rg BT 419.94 479.55 Td (o) Tj ET Q q 0 0 0 rg BT 425.17 479.55 Td (v) Tj ET Q q 0 0 0 rg BT 429.59 479.55 Td (eries, or if ther) Tj ET Q q 0 0 0 rg BT 489.55 479.55 Td (e ar) Tj ET Q q 0 0 0 rg BT 504.93 479.55 Td (e other ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 467.55 Td (un) Tj ET Q q 0 0 0 rg BT 64.45 467.55 Td (f) Tj ET Q q 0 0 0 rg BT 67.29 467.55 Td (or) Tj ET Q q 0 0 0 rg BT 75.92 467.55 Td (eseen e) Tj ET Q q 0 0 0 rg BT 107.20 467.55 Td (v) Tj ET Q q 0 0 0 rg BT 111.62 467.55 Td (en) Tj ET Q q 0 0 0 rg BT 121.75 467.55 Td (ts tha) Tj ET Q q 0 0 0 rg BT 144.58 467.55 Td (t c) Tj ET Q q 0 0 0 rg BT 154.33 467.55 Td (ause actual r) Tj ET Q q 0 0 0 rg BT 205.85 467.55 Td (esults t) Tj ET Q q 0 0 0 rg BT 235.05 467.55 Td (o dif) Tj ET Q q 0 0 0 rg BT 253.09 467.55 Td (f) Tj ET Q q 0 0 0 rg BT 255.89 467.55 Td (er fr) Tj ET Q q 0 0 0 rg BT 272.99 467.55 Td (om assump) Tj ET Q q 0 0 0 rg BT 319.58 467.55 Td (tions. The yield r) Tj ET Q q 0 0 0 rg BT 386.77 467.55 Td (e) Tj ET Q q 0 0 0 rg BT 391.66 467.55 Td (flects the Compan) Tj ET Q q 0 0 0 rg BT 465.28 467.55 Td (y's high s) Tj ET Q q 0 0 0 rg BT 501.75 467.55 Td (t) Tj ET Q q 0 0 0 rg BT 504.98 467.55 Td (andar) Tj ET Q q 0 0 0 rg BT 528.42 467.55 Td (ds in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 455.55 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 455.55 Td (ons) Tj ET Q q 0 0 0 rg BT 72.47 455.55 Td (truction, ligh) Tj ET Q q 0 0 0 rg BT 124.18 455.55 Td (ting) Tj ET Q q 0 0 0 rg BT 139.89 455.55 Td (, parking) Tj ET Q q 0 0 0 rg BT 175.09 455.55 Td (, access, pedes) Tj ET Q q 0 0 0 rg BT 234.91 455.55 Td (trian amenities, accessibility as w) Tj ET Q q 0 0 0 rg BT 369.57 455.55 Td (ell as de) Tj ET Q q 0 0 0 rg BT 402.54 455.55 Td (v) Tj ET Q q 0 0 0 rg BT 406.96 455.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 442.88 455.55 Td (t t) Tj ET Q q 0 0 0 rg BT 451.74 455.55 Td (o LEED s) Tj ET Q q 0 0 0 rg BT 485.46 455.55 Td (t) Tj ET Q q 0 0 0 rg BT 488.69 455.55 Td (andar) Tj ET Q q 0 0 0 rg BT 512.13 455.55 Td (ds. The ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 443.55 Td (quality of the Compan) Tj ET Q q 0 0 0 rg BT 144.16 443.55 Td (y) Tj ET Q q 0 0 0 rg BT 148.99 443.55 Td () Tj ET Q q 0 0 0 rg BT 150.87 443.55 Td (s c) Tj ET Q q 0 0 0 rg BT 161.19 443.55 Td (ons) Tj ET Q q 0 0 0 rg BT 175.51 443.55 Td (truction is c) Tj ET Q q 0 0 0 rg BT 222.88 443.55 Td (onsis) Tj ET Q q 0 0 0 rg BT 243.41 443.55 Td (t) Tj ET Q q 0 0 0 rg BT 246.65 443.55 Td (en) Tj ET Q q 0 0 0 rg BT 256.79 443.55 Td (t with its s) Tj ET Q q 0 0 0 rg BT 298.32 443.55 Td (tr) Tj ET Q q 0 0 0 rg BT 304.95 443.55 Td (a) Tj ET Q q 0 0 0 rg BT 309.65 443.55 Td (t) Tj ET Q q 0 0 0 rg BT 312.89 443.55 Td (egy of long-t) Tj ET Q q 0 0 0 rg BT 363.78 443.55 Td (erm o) Tj ET Q q 0 0 0 rg BT 387.73 443.55 Td (wner) Tj ET Q q 0 0 0 rg BT 408.42 443.55 Td (ship and v) Tj ET Q q 0 0 0 rg BT 449.32 443.55 Td (alue cr) Tj ET Q q 0 0 0 rg BT 476.48 443.55 Td (ea) Tj ET Q q 0 0 0 rg BT 486.15 443.55 Td (tion. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 425.55 Td (A summar) Tj ET Q q 0 0 0 rg BT 95.51 425.55 Td (y of 2015 de) Tj ET Q q 0 0 0 rg BT 145.60 425.55 Td (v) Tj ET Q q 0 0 0 rg BT 150.02 425.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 185.94 425.55 Td (t and r) Tj ET Q q 0 0 0 rg BT 212.47 425.55 Td (ede) Tj ET Q q 0 0 0 rg BT 227.62 425.55 Td (v) Tj ET Q q 0 0 0 rg BT 232.04 425.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 267.96 425.55 Td (t activities is as f) Tj ET Q q 0 0 0 rg BT 334.11 425.55 Td (ollo) Tj ET Q q 0 0 0 rg BT 349.21 425.55 Td (w) Tj ET Q q 0 0 0 rg BT 356.27 425.55 Td (s:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 415.04999999999995 m 227.5 415.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 400.04999999999995 m 227.5 400.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227.5 415.04999999999995 m 273.5 415.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 227.5 400.04999999999995 m 273.5 400.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 273.5 415.04999999999995 m 319.5 415.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 273.5 400.04999999999995 m 319.5 400.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 415.04999999999995 m 365.5 415.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 319.5 400.04999999999995 m 365.5 400.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 415.04999999999995 m 411.5 415.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 365.5 400.04999999999995 m 411.5 400.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 415.04999999999995 m 457.5 415.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 411.5 400.04999999999995 m 457.5 400.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 415.04999999999995 m 502.5 415.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 457.5 400.04999999999995 m 502.5 400.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 415.04999999999995 m 549.5 415.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 502.5 400.04999999999995 m 549.5 400.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 388.04999999999995 m 227.5 388.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 227.5 388.04999999999995 m 273.5 388.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 273.5 388.04999999999995 m 319.5 388.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 319.5 388.04999999999995 m 365.5 388.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 365.5 388.04999999999995 m 411.5 388.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 411.5 388.04999999999995 m 457.5 388.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 457.5 388.04999999999995 m 502.5 388.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 502.5 388.04999999999995 m 549.5 388.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 227.5 388.04999999999995 m 273.5 388.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 273.5 388.04999999999995 m 319.5 388.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 319.5 388.04999999999995 m 365.5 388.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 365.5 388.04999999999995 m 411.5 388.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 411.5 388.04999999999995 m 457.5 388.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 411.5 371.04999999999995 m 457.5 371.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 457.5 388.04999999999995 m 502.5 388.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 457.5 371.04999999999995 m 502.5 371.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 502.5 388.04999999999995 m 549.5 388.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 338.04999999999995 m 227.5 338.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 227.5 338.04999999999995 m 273.5 338.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 273.5 338.04999999999995 m 319.5 338.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 319.5 338.04999999999995 m 365.5 338.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 365.5 338.04999999999995 m 411.5 338.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 411.5 371.04999999999995 m 457.5 371.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 411.5 338.04999999999995 m 457.5 338.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 457.5 371.04999999999995 m 502.5 371.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 457.5 338.04999999999995 m 502.5 338.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 502.5 338.04999999999995 m 549.5 338.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 299.04999999999995 m 227.5 299.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 286.04999999999995 m 227.5 286.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 227.5 299.04999999999995 m 273.5 299.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 227.5 286.04999999999995 m 273.5 286.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 273.5 299.04999999999995 m 319.5 299.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 273.5 286.04999999999995 m 319.5 286.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 319.5 299.04999999999995 m 365.5 299.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 319.5 286.04999999999995 m 365.5 286.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 365.5 299.04999999999995 m 411.5 299.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 365.5 286.04999999999995 m 411.5 286.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 411.5 299.04999999999995 m 457.5 299.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 411.5 286.04999999999995 m 457.5 286.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 457.5 299.04999999999995 m 502.5 299.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 457.5 286.04999999999995 m 502.5 286.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 502.5 299.04999999999995 m 549.5 299.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 502.5 286.04999999999995 m 549.5 286.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 234.04999999999995 m 227.5 234.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 219.04999999999995 m 227.5 219.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 227.5 234.04999999999995 m 273.5 234.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227.5 219.04999999999995 m 273.5 219.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 273.5 234.04999999999995 m 319.5 234.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 273.5 219.04999999999995 m 319.5 219.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 319.5 234.04999999999995 m 365.5 234.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 219.04999999999995 m 365.5 219.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 365.5 234.04999999999995 m 411.5 234.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 219.04999999999995 m 411.5 219.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 411.5 234.04999999999995 m 457.5 234.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 219.04999999999995 m 457.5 219.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 457.5 234.04999999999995 m 502.5 234.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 219.04999999999995 m 502.5 219.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 502.5 234.04999999999995 m 549.5 234.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 219.04999999999995 m 549.5 219.04999999999995 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 404.80 Td (As at March 31, 2015) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 391.55 Td (\(thousands of dollars, except for other data\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 246.90 363.30 Td (Planned) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 236.25 356.30 Td (Square Feet) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 254.45 349.30 Td (Upon) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 236.90 342.30 Td (Completion) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 294.35 349.30 Td (Existing) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 282.25 342.30 Td (Square Feet) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 328.25 356.30 Td (Square Feet) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 344.20 349.30 Td (Under) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 323.65 342.30 Td (Development) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 394.30 363.30 Td (Total) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 379.65 356.30 Td (Estimated) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 382.35 349.30 Td (Cost incl.) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 394.30 342.30 Td (Land) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 437.45 375.30 Td (Invested Cost) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 517.65 356.30 Td (Estimated) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 526.00 349.30 Td (Cost to) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 518.50 342.30 Td (Complete) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 417.10 349.30 Td (Under Active) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 415.65 342.30 Td (Development) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 477.85 356.30 Td (Income) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 470.45 349.30 Td (Producing) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 469.55 342.30 Td (Properties) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 328.80 Td (Same Property with incremental redevelopment and expansion) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 315.80 Td (Active development and at completion) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 245.15 315.80 Td (46,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 308.10 315.80 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 337.15 315.80 Td (46,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 368.00 315.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 383.15 315.80 Td (26,530) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 414.00 315.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.15 315.80 Td (11,001) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.00 315.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.10 315.80 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 505.00 315.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.15 315.80 Td (15,529) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 302.80 Td (In pre-development) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 245.15 302.80 Td (21,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 308.10 302.80 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 337.15 302.80 Td (21,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 383.15 302.80 Td (17,288) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 433.75 302.80 Td (7,924) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.10 302.80 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.75 302.80 Td (9,364) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 245.15 289.80 Td (67,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 308.10 289.80 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 337.15 289.80 Td (67,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 368.00 289.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 383.15 289.80 Td (43,818) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 414.00 289.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.15 289.80 Td (18,925) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.00 289.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.10 289.80 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 505.00 289.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.15 289.80 Td (24,893) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 276.80 Td (Major redevelopment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 263.80 Td (Active development) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 240.60 263.80 Td (750,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 286.60 263.80 Td (454,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 332.60 263.80 Td (296,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 368.00 263.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 378.60 263.80 Td (595,299) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 414.00 263.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 424.60 263.80 Td (159,223) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.00 263.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 469.60 263.80 Td (345,705) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 505.00 263.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.15 263.80 Td (90,371) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 250.80 Td (Ground-up development) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 237.80 Td (Active development and at completion) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 233.75 237.80 Td (1,363,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 286.60 237.80 Td (535,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 332.60 237.80 Td (828,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 378.60 237.80 Td (418,611) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.15 237.80 Td (82,138) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 469.60 237.80 Td (184,163) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.60 237.80 Td (152,310) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 223.80 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 233.75 224.80 Td (2,180,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 286.60 224.80 Td (989,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 325.80 224.80 Td (1,191,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 368.00 224.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 371.80 224.80 Td (1,057,728) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 414.00 224.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 424.60 224.80 Td (260,286) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.00 224.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 469.60 224.80 Td (529,868) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 505.00 224.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.60 224.80 Td (267,574) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 201.55 Td (Cos) Tj ET Q q 0 0 0 rg BT 68.40 201.55 Td (ts t) Tj ET Q q 0 0 0 rg BT 81.18 201.55 Td (o c) Tj ET Q q 0 0 0 rg BT 92.86 201.55 Td (omple) Tj ET Q q 0 0 0 rg BT 118.59 201.55 Td (t) Tj ET Q q 0 0 0 rg BT 121.83 201.55 Td (e the de) Tj ET Q q 0 0 0 rg BT 155.09 201.55 Td (v) Tj ET Q q 0 0 0 rg BT 159.51 201.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 195.43 201.55 Td (t, r) Tj ET Q q 0 0 0 rg BT 206.89 201.55 Td (ede) Tj ET Q q 0 0 0 rg BT 222.05 201.55 Td (v) Tj ET Q q 0 0 0 rg BT 226.47 201.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 262.39 201.55 Td (t and e) Tj ET Q q 0 0 0 rg BT 290.38 201.55 Td (xpansion activities under) Tj ET Q q 0 0 0 rg BT 391.55 201.55 Td (w) Tj ET Q q 0 0 0 rg BT 398.58 201.55 Td (a) Tj ET Q q 0 0 0 rg BT 403.19 201.55 Td (y ar) Tj ET Q q 0 0 0 rg BT 418.12 201.55 Td (e es) Tj ET Q q 0 0 0 rg BT 434.13 201.55 Td (tima) Tj ET Q q 0 0 0 rg BT 452.46 201.55 Td (t) Tj ET Q q 0 0 0 rg BT 455.70 201.55 Td (ed t) Tj ET Q q 0 0 0 rg BT 471.45 201.55 Td (o be ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 189.55 Td (appr) Tj ET Q q 0 0 0 rg BT 72.62 189.55 Td (o) Tj ET Q q 0 0 0 rg BT 77.70 189.55 Td (xima) Tj ET Q q 0 0 0 rg BT 97.01 189.55 Td (t) Tj ET Q q 0 0 0 rg BT 100.25 189.55 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 114.31 189.55 Td ($267.6 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 172.13 189.55 Td (. Cos) Tj ET Q q 0 0 0 rg BT 191.32 189.55 Td (ts t) Tj ET Q q 0 0 0 rg BT 204.10 189.55 Td (o c) Tj ET Q q 0 0 0 rg BT 215.78 189.55 Td (omple) Tj ET Q q 0 0 0 rg BT 241.51 189.55 Td (t) Tj ET Q q 0 0 0 rg BT 244.75 189.55 Td (e major r) Tj ET Q q 0 0 0 rg BT 281.53 189.55 Td (ede) Tj ET Q q 0 0 0 rg BT 296.69 189.55 Td (v) Tj ET Q q 0 0 0 rg BT 301.11 189.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 337.03 189.55 Td (ts and gr) Tj ET Q q 0 0 0 rg BT 372.14 189.55 Td (ound-up de) Tj ET Q q 0 0 0 rg BT 419.19 189.55 Td (v) Tj ET Q q 0 0 0 rg BT 423.61 189.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 459.53 189.55 Td (ts, r) Tj ET Q q 0 0 0 rg BT 474.90 189.55 Td (espectiv) Tj ET Q q 0 0 0 rg BT 508.31 189.55 Td (ely) Tj ET Q q 0 0 0 rg BT 519.40 189.55 Td (, ar) Tj ET Q q 0 0 0 rg BT 532.30 189.55 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 177.55 Td (planned a) Tj ET Q q 0 0 0 rg BT 94.03 177.55 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.64 177.55 Td ($48.1 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 152.40 177.55 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 172.22 177.55 Td ($63.6 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 224.97 177.55 Td ( in the r) Tj ET Q q 0 0 0 rg BT 256.24 177.55 Td (emainder of 2015, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 350.69 177.55 Td ($42.2 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 403.44 177.55 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 423.26 177.55 Td ($88.7 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 476.02 177.55 Td ( in 2016 and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 165.55 Td (be) Tj ET Q q 0 0 0 rg BT 64.17 165.55 Td (y) Tj ET Q q 0 0 0 rg BT 68.58 165.55 Td (ond.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 147.55 Td (2015 de) Tj ET Q q 0 0 0 rg BT 86.71 147.55 Td (v) Tj ET Q q 0 0 0 rg BT 91.13 147.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 127.06 147.55 Td (t and r) Tj ET Q q 0 0 0 rg BT 153.58 147.55 Td (ede) Tj ET Q q 0 0 0 rg BT 168.74 147.55 Td (v) Tj ET Q q 0 0 0 rg BT 173.16 147.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 209.08 147.55 Td (t activities ar) Tj ET Q q 0 0 0 rg BT 261.10 147.55 Td (e summariz) Tj ET Q q 0 0 0 rg BT 307.77 147.55 Td (ed in the t) Tj ET Q q 0 0 0 rg BT 349.14 147.55 Td (ables belo) Tj ET Q q 0 0 0 rg BT 390.39 147.55 Td (w b) Tj ET Q q 0 0 0 rg BT 405.00 147.55 Td (y in) Tj ET Q q 0 0 0 rg BT 419.17 147.55 Td (v) Tj ET Q q 0 0 0 rg BT 423.59 147.55 Td (es) Tj ET Q q 0 0 0 rg BT 432.36 147.55 Td (tmen) Tj ET Q q 0 0 0 rg BT 453.84 147.55 Td (t pr) Tj ET Q q 0 0 0 rg BT 468.03 147.55 Td (operty c) Tj ET Q q 0 0 0 rg BT 501.30 147.55 Td (a) Tj ET Q q 0 0 0 rg BT 506.00 147.55 Td (t) Tj ET Q q 0 0 0 rg BT 509.24 147.55 Td (eg) Tj ET Q q 0 0 0 rg BT 518.85 147.55 Td (or) Tj ET Q q 0 0 0 rg BT 527.66 147.55 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 135.55 Td (and additionally b) Tj ET Q q 0 0 0 rg BT 126.70 135.55 Td (y de) Tj ET Q q 0 0 0 rg BT 143.66 135.55 Td (v) Tj ET Q q 0 0 0 rg BT 148.08 135.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 184.00 135.55 Td (t s) Tj ET Q q 0 0 0 rg BT 193.41 135.55 Td (t) Tj ET Q q 0 0 0 rg BT 196.64 135.55 Td (a) Tj ET Q q 0 0 0 rg BT 201.34 135.55 Td (tus \(activ) Tj ET Q q 0 0 0 rg BT 238.23 135.55 Td (e de) Tj ET Q q 0 0 0 rg BT 255.65 135.55 Td (v) Tj ET Q q 0 0 0 rg BT 260.06 135.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 295.99 135.55 Td (t, a) Tj ET Q q 0 0 0 rg BT 308.79 135.55 Td (t c) Tj ET Q q 0 0 0 rg BT 318.55 135.55 Td (omple) Tj ET Q q 0 0 0 rg BT 344.28 135.55 Td (tion and in pr) Tj ET Q q 0 0 0 rg BT 398.69 135.55 Td (e-de) Tj ET Q q 0 0 0 rg BT 416.91 135.55 Td (v) Tj ET Q q 0 0 0 rg BT 421.32 135.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 457.25 135.55 Td (t\).) Tj ET Q endstream endobj 51 0 obj <> endobj 52 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (24) Tj ET Q BT /F1 10.00 Tf ET BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 693.75 Td (Same Property with Incremen) Tj ET Q q 0 0 0 rg BT 189.22 693.75 Td (t) Tj ET Q q 0 0 0 rg BT 192.90 693.75 Td (al R) Tj ET Q q 0 0 0 rg BT 209.93 693.75 Td (ede) Tj ET Q q 0 0 0 rg BT 226.45 693.75 Td (velopmen) Tj ET Q q 0 0 0 rg BT 271.27 693.75 Td (t and Expansion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 678.75 Td (Highligh) Tj ET Q q 0 0 0 rg BT 86.94 678.75 Td (ts of the Compan) Tj ET Q q 0 0 0 rg BT 156.60 678.75 Td (y) Tj ET Q q 0 0 0 rg BT 161.43 678.75 Td () Tj ET Q q 0 0 0 rg BT 163.31 678.75 Td (s curr) Tj ET Q q 0 0 0 rg BT 185.81 678.75 Td (en) Tj ET Q q 0 0 0 rg BT 195.94 678.75 Td (t Same Pr) Tj ET Q q 0 0 0 rg BT 234.65 678.75 Td (operty with incr) Tj ET Q q 0 0 0 rg BT 299.22 678.75 Td (emen) Tj ET Q q 0 0 0 rg BT 322.32 678.75 Td (t) Tj ET Q q 0 0 0 rg BT 325.55 678.75 Td (al r) Tj ET Q q 0 0 0 rg BT 338.25 678.75 Td (ede) Tj ET Q q 0 0 0 rg BT 353.40 678.75 Td (v) Tj ET Q q 0 0 0 rg BT 357.82 678.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 393.75 678.75 Td (t and e) Tj ET Q q 0 0 0 rg BT 421.74 678.75 Td (xpansion pr) Tj ET Q q 0 0 0 rg BT 468.94 678.75 Td (ojects ar) Tj ET Q q 0 0 0 rg BT 503.48 678.75 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 666.75 Td (summariz) Tj ET Q q 0 0 0 rg BT 93.44 666.75 Td (ed in the t) Tj ET Q q 0 0 0 rg BT 134.81 666.75 Td (able belo) Tj ET Q q 0 0 0 rg BT 172.14 666.75 Td (w) Tj ET Q q 0 0 0 rg BT 178.65 666.75 Td (. As a) Tj ET Q q 0 0 0 rg BT 200.09 666.75 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 205.70 666.75 Td (Mar) Tj ET Q q 0 0 0 rg BT 222.38 666.75 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 269.29 666.75 Td (, the in) Tj ET Q q 0 0 0 rg BT 297.27 666.75 Td (v) Tj ET Q q 0 0 0 rg BT 301.69 666.75 Td (es) Tj ET Q q 0 0 0 rg BT 310.46 666.75 Td (t) Tj ET Q q 0 0 0 rg BT 313.70 666.75 Td (ed c) Tj ET Q q 0 0 0 rg BT 330.34 666.75 Td (os) Tj ET Q q 0 0 0 rg BT 339.41 666.75 Td (t in these pr) Tj ET Q q 0 0 0 rg BT 388.14 666.75 Td (ojects t) Tj ET Q q 0 0 0 rg BT 417.78 666.75 Td (ot) Tj ET Q q 0 0 0 rg BT 426.28 666.75 Td (aled ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 445.86 666.75 Td ($18.9 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 498.61 666.75 Td (, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 654.75 Td (includes incr) Tj ET Q q 0 0 0 rg BT 104.86 654.75 Td (emen) Tj ET Q q 0 0 0 rg BT 127.96 654.75 Td (t) Tj ET Q q 0 0 0 rg BT 131.19 654.75 Td (al in) Tj ET Q q 0 0 0 rg BT 147.92 654.75 Td (v) Tj ET Q q 0 0 0 rg BT 152.33 654.75 Td (es) Tj ET Q q 0 0 0 rg BT 161.11 654.75 Td (tmen) Tj ET Q q 0 0 0 rg BT 182.58 654.75 Td (t primarily r) Tj ET Q q 0 0 0 rg BT 230.23 654.75 Td (ela) Tj ET Q q 0 0 0 rg BT 242.19 654.75 Td (t) Tj ET Q q 0 0 0 rg BT 245.44 654.75 Td (ed t) Tj ET Q q 0 0 0 rg BT 261.18 654.75 Td (o pads or building e) Tj ET Q q 0 0 0 rg BT 340.89 654.75 Td (x) Tj ET Q q 0 0 0 rg BT 345.25 654.75 Td (t) Tj ET Q q 0 0 0 rg BT 348.50 654.75 Td (ensions and oft) Tj ET Q q 0 0 0 rg BT 410.76 654.75 Td (en includes f) Tj ET Q q 0 0 0 rg BT 461.83 654.75 Td (a) Tj ET Q q 0 0 0 rg BT 470.77 654.75 Td (ade, parking) Tj ET Q q 0 0 0 rg BT 520.99 654.75 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 642.75 Td (ligh) Tj ET Q q 0 0 0 rg BT 68.46 642.75 Td (ting and building upgr) Tj ET Q q 0 0 0 rg BT 157.25 642.75 Td (ades. Of the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 208.74 642.75 Td (46,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 236.57 642.75 Td ( squar) Tj ET Q q 0 0 0 rg BT 261.40 642.75 Td (e f) Tj ET Q q 0 0 0 rg BT 271.44 642.75 Td (ee) Tj ET Q q 0 0 0 rg BT 281.33 642.75 Td (t under activ) Tj ET Q q 0 0 0 rg BT 332.51 642.75 Td (e r) Tj ET Q q 0 0 0 rg BT 343.10 642.75 Td (ede) Tj ET Q q 0 0 0 rg BT 358.26 642.75 Td (v) Tj ET Q q 0 0 0 rg BT 362.68 642.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 398.60 642.75 Td (t, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 406.71 642.75 Td (17,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.54 642.75 Td ( squar) Tj ET Q q 0 0 0 rg BT 459.37 642.75 Td (e f) Tj ET Q q 0 0 0 rg BT 469.41 642.75 Td (ee) Tj ET Q q 0 0 0 rg BT 479.30 642.75 Td (t is subject t) Tj ET Q q 0 0 0 rg BT 528.26 642.75 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 630.75 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 630.75 Td (ommit) Tj ET Q q 0 0 0 rg BT 84.90 630.75 Td (t) Tj ET Q q 0 0 0 rg BT 88.14 630.75 Td (ed leases a) Tj ET Q q 0 0 0 rg BT 132.45 630.75 Td (t a w) Tj ET Q q 0 0 0 rg BT 152.17 630.75 Td (eigh) Tj ET Q q 0 0 0 rg BT 169.31 630.75 Td (t) Tj ET Q q 0 0 0 rg BT 172.55 630.75 Td (ed a) Tj ET Q q 0 0 0 rg BT 189.66 630.75 Td (v) Tj ET Q q 0 0 0 rg BT 194.08 630.75 Td (er) Tj ET Q q 0 0 0 rg BT 202.34 630.75 Td (ag) Tj ET Q q 0 0 0 rg BT 211.75 630.75 Td (e r) Tj ET Q q 0 0 0 rg BT 222.27 630.75 Td (a) Tj ET Q q 0 0 0 rg BT 226.97 630.75 Td (t) Tj ET Q q 0 0 0 rg BT 230.21 630.75 Td (e of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.03 630.75 Td ($35.96) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 275.90 630.75 Td ( per squar) Tj ET Q q 0 0 0 rg BT 316.70 630.75 Td (e f) Tj ET Q q 0 0 0 rg BT 326.78 630.75 Td (oot. The Compan) Tj ET Q q 0 0 0 rg BT 396.53 630.75 Td (y is curr) Tj ET Q q 0 0 0 rg BT 428.11 630.75 Td (en) Tj ET Q q 0 0 0 rg BT 438.24 630.75 Td (tly in v) Tj ET Q q 0 0 0 rg BT 464.85 630.75 Td (arious s) Tj ET Q q 0 0 0 rg BT 495.92 630.75 Td (t) Tj ET Q q 0 0 0 rg BT 499.15 630.75 Td (ag) Tj ET Q q 0 0 0 rg BT 508.57 630.75 Td (es of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 618.75 Td (neg) Tj ET Q q 0 0 0 rg BT 68.87 618.75 Td (otia) Tj ET Q q 0 0 0 rg BT 84.48 618.75 Td (tions f) Tj ET Q q 0 0 0 rg BT 109.67 618.75 Td (or the r) Tj ET Q q 0 0 0 rg BT 139.88 618.75 Td (emaining planned space.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 602.25 m 73.5 602.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 589.25 m 73.5 589.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 73.5 602.25 m 233.5 602.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 73.5 589.25 m 233.5 589.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 233.5 602.25 m 318.5 602.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 233.5 589.25 m 318.5 589.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 602.25 m 371.5 602.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 318.5 589.25 m 371.5 589.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 602.25 m 376.5 602.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 371.5 589.25 m 376.5 589.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 602.25 m 422.5 602.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 376.5 589.25 m 422.5 589.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 602.25 m 459.5 602.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 422.5 589.25 m 459.5 589.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 602.25 m 506.5 602.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 589.25 m 506.5 589.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 602.25 m 550.5 602.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 589.25 m 550.5 589.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 576.25 m 73.5 576.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 540.25 m 73.5 540.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 73.5 576.25 m 233.5 576.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 73.5 540.25 m 233.5 540.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 233.5 576.25 m 318.5 576.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 233.5 540.25 m 318.5 540.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 318.5 576.25 m 371.5 576.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 318.5 540.25 m 371.5 540.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 371.5 576.25 m 376.5 576.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 371.5 540.25 m 376.5 540.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 376.5 576.25 m 422.5 576.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 376.5 540.25 m 422.5 540.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 422.5 576.25 m 459.5 576.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 422.5 540.25 m 459.5 540.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 576.25 m 506.5 576.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 540.25 m 506.5 540.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 576.25 m 550.5 576.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 540.25 m 550.5 540.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 456.25 m 73.5 456.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 442.25 m 73.5 442.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 73.5 456.25 m 233.5 456.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 73.5 442.25 m 233.5 442.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 233.5 456.25 m 318.5 456.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 233.5 442.25 m 318.5 442.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 318.5 456.25 m 371.5 456.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 318.5 442.25 m 371.5 442.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 371.5 456.25 m 376.5 456.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 371.5 442.25 m 376.5 442.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 376.5 456.25 m 422.5 456.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 376.5 442.25 m 422.5 442.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 422.5 456.25 m 459.5 456.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 422.5 442.25 m 459.5 442.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 456.25 m 506.5 456.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 442.25 m 506.5 442.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 456.25 m 550.5 456.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 442.25 m 550.5 442.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 414.25 m 73.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 73.5 414.25 m 233.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 233.5 414.25 m 318.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 318.5 414.25 m 371.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 371.5 414.25 m 376.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 376.5 414.25 m 422.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 422.5 414.25 m 459.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 414.25 m 506.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506.5 414.25 m 550.5 414.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 392.25 m 73.5 392.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 73.5 392.25 m 233.5 392.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 233.5 392.25 m 318.5 392.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 392.25 m 371.5 392.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 392.25 m 376.5 392.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 392.25 m 422.5 392.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 392.25 m 459.5 392.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 392.25 m 506.5 392.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 392.25 m 550.5 392.25 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 593.00 Td (As at March 31, 2015) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 59.00 580.00 Td (\(thousands of dollars, except for other data\)) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 57.00 544.63 Td (Count/Property) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 238.00 544.63 Td (Tenants) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 331.85 559.63 Td (Square Feet) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 348.95 552.13 Td (Under) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 326.90 544.63 Td (Development) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 400.15 559.63 Td (Target) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 383.55 552.13 Td (Completion) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 404.65 544.63 Td (Date) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 441.30 567.13 Td (T) Tj ET Q q 0 0 0 rg BT 444.29 567.13 Td (ot) Tj ET Q q 0 0 0 rg BT 450.66 567.13 Td (al ) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 425.60 559.63 Td (Es) Tj ET Q q 0 0 0 rg BT 432.11 559.63 Td (tima) Tj ET Q q 0 0 0 rg BT 445.86 559.63 Td (t) Tj ET Q q 0 0 0 rg BT 448.29 559.63 Td (ed ) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 428.50 552.13 Td (Cos) Tj ET Q q 0 0 0 rg BT 439.30 552.13 Td (t incl.) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 441.35 544.63 Td (Land ) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 477.25 552.13 Td (In) Tj ET Q q 0 0 0 rg BT 482.96 552.13 Td (v) Tj ET Q q 0 0 0 rg BT 486.27 552.13 Td (es) Tj ET Q q 0 0 0 rg BT 492.85 552.13 Td (t) Tj ET Q q 0 0 0 rg BT 495.28 552.13 Td (ed) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 489.65 544.63 Td (Cos) Tj ET Q q 0 0 0 rg BT 500.45 544.63 Td (t ) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 516.60 559.63 Td (Es) Tj ET Q q 0 0 0 rg BT 523.11 559.63 Td (tima) Tj ET Q q 0 0 0 rg BT 536.86 559.63 Td (t) Tj ET Q q 0 0 0 rg BT 539.29 559.63 Td (ed ) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 525.55 552.13 Td (Cos) Tj ET Q q 0 0 0 rg BT 536.35 552.13 Td (t t) Tj ET Q q 0 0 0 rg BT 543.00 552.13 Td (o) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 517.50 544.63 Td (Comple) Tj ET Q q 0 0 0 rg BT 540.80 544.63 Td (t) Tj ET Q q 0 0 0 rg BT 543.23 544.63 Td (e) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 76.00 531.00 Td (Same Property with incremental redevelopment and expansion active redevelopment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 517.00 Td (1.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 76.00 517.00 Td (Carrefour Charlemagne, Charlemagne, QC) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 236.00 517.00 Td (Barbies Bar & Grill) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 343.15 517.00 Td (16,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 385.85 517.00 Td (Q3, 2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.00 517.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 435.75 517.00 Td (6,510) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.00 517.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.75 517.00 Td (2,483) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.00 517.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.75 517.00 Td (4,027) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 503.00 Td (2.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 76.00 503.00 Td (Loblaws Plaza, Ottawa, ON) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 236.00 503.00 Td (BMO) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 347.75 503.00 Td (8,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 385.85 503.00 Td (Q2, 2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 435.75 503.00 Td (7,730) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.75 503.00 Td (3,728) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.75 503.00 Td (4,002) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 489.00 Td (3.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 76.00 489.00 Td (Wellington Corner, London, ON) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 236.00 489.00 Td (Leasing underway) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 347.75 489.00 Td (4,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 385.85 489.00 Td (Q1, 2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 435.75 489.00 Td (2,473) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.75 489.00 Td (1,162) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.75 489.00 Td (1,311) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 475.00 Td (4.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 76.00 475.00 Td (Fairway Plaza, Kitchener, ON) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 236.00 475.00 Td (Leasing underway) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 343.15 475.00 Td (13,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 385.85 475.00 Td (Q2, 2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 435.75 475.00 Td (8,572) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.75 475.00 Td (2,825) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.75 475.00 Td (5,747) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 461.00 Td (5.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 76.00 461.00 Td (West Springs Village, Calgary, AB) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 236.00 461.00 Td (Subway and other) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 347.75 461.00 Td (5,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 385.85 461.00 Td (Q2, 2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 435.75 461.00 Td (1,245) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 489.55 461.00 Td (803) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.55 461.00 Td (442) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 343.15 447.00 Td (46,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.00 447.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.15 447.00 Td (26,530) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.00 447.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 478.15 447.00 Td (11,001) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.00 447.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.15 447.00 Td (15,529) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 76.00 433.00 Td (Same Property with incremental redevelopment and expansion in pre-development) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 419.00 Td (1.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 76.00 419.00 Td (Pemberton Plaza, Vancouver, BC) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 343.15 419.00 Td (21,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 385.85 419.00 Td (Q2, 2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.00 419.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.15 419.00 Td (17,288) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.00 419.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.75 419.00 Td (7,924) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.00 419.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.75 419.00 Td (9,364) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 76.00 405.00 Td (Total Same Property with incremental redevelopment and) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 85.00 396.00 Td (expansion) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 343.15 397.00 Td (67,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.00 397.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.15 397.00 Td (43,818) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.00 397.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 478.15 397.00 Td (18,925) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.00 397.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.15 397.00 Td (24,893) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.00 392.75 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 374.75 Td (In addition t) Tj ET Q q 0 0 0 rg BT 103.31 374.75 Td (o the pr) Tj ET Q q 0 0 0 rg BT 135.26 374.75 Td (ojects lis) Tj ET Q q 0 0 0 rg BT 170.04 374.75 Td (t) Tj ET Q q 0 0 0 rg BT 173.29 374.75 Td (ed in the t) Tj ET Q q 0 0 0 rg BT 214.65 374.75 Td (able abo) Tj ET Q q 0 0 0 rg BT 249.50 374.75 Td (v) Tj ET Q q 0 0 0 rg BT 253.92 374.75 Td (e, the Same Pr) Tj ET Q q 0 0 0 rg BT 312.59 374.75 Td (operty with incr) Tj ET Q q 0 0 0 rg BT 377.16 374.75 Td (emen) Tj ET Q q 0 0 0 rg BT 400.26 374.75 Td (t) Tj ET Q q 0 0 0 rg BT 403.49 374.75 Td (al r) Tj ET Q q 0 0 0 rg BT 416.19 374.75 Td (ede) Tj ET Q q 0 0 0 rg BT 431.34 374.75 Td (v) Tj ET Q q 0 0 0 rg BT 435.76 374.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 471.69 374.75 Td (t and e) Tj ET Q q 0 0 0 rg BT 499.68 374.75 Td (xpansion ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 362.75 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 362.75 Td (ojects include ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.79 362.75 Td (se) Tj ET Q q 0 0 0 rg BT 129.63 362.75 Td (v) Tj ET Q q 0 0 0 rg BT 134.04 362.75 Td (en) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 144.27 362.75 Td ( pr) Tj ET Q q 0 0 0 rg BT 155.11 362.75 Td (operties with pr) Tj ET Q q 0 0 0 rg BT 219.78 362.75 Td (ojects c) Tj ET Q q 0 0 0 rg BT 250.32 362.75 Td (omple) Tj ET Q q 0 0 0 rg BT 276.05 362.75 Td (t) Tj ET Q q 0 0 0 rg BT 279.29 362.75 Td (ed in prior periods and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 373.92 362.75 Td (tw) Tj ET Q q 0 0 0 rg BT 384.32 362.75 Td (o) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 389.60 362.75 Td ( in an early pr) Tj ET Q q 0 0 0 rg BT 444.91 362.75 Td (e-de) Tj ET Q q 0 0 0 rg BT 463.13 362.75 Td (v) Tj ET Q q 0 0 0 rg BT 467.55 362.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 503.47 362.75 Td (t planning ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 350.75 Td (s) Tj ET Q q 0 0 0 rg BT 57.80 350.75 Td (t) Tj ET Q q 0 0 0 rg BT 61.03 350.75 Td (ag) Tj ET Q q 0 0 0 rg BT 70.44 350.75 Td (e. These pr) Tj ET Q q 0 0 0 rg BT 115.03 350.75 Td (ojects, t) Tj ET Q q 0 0 0 rg BT 147.17 350.75 Td (og) Tj ET Q q 0 0 0 rg BT 157.07 350.75 Td (e) Tj ET Q q 0 0 0 rg BT 161.99 350.75 Td (ther with the pr) Tj ET Q q 0 0 0 rg BT 226.04 350.75 Td (ojects lis) Tj ET Q q 0 0 0 rg BT 260.82 350.75 Td (t) Tj ET Q q 0 0 0 rg BT 264.06 350.75 Td (ed in the t) Tj ET Q q 0 0 0 rg BT 305.43 350.75 Td (able abo) Tj ET Q q 0 0 0 rg BT 340.28 350.75 Td (v) Tj ET Q q 0 0 0 rg BT 344.70 350.75 Td (e, mak) Tj ET Q q 0 0 0 rg BT 371.43 350.75 Td (e up the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 407.28 350.75 Td (15) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 417.41 350.75 Td ( pr) Tj ET Q q 0 0 0 rg BT 428.25 350.75 Td (operties classified as Same ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 338.75 Td (Pr) Tj ET Q q 0 0 0 rg BT 62.49 338.75 Td (operty with incr) Tj ET Q q 0 0 0 rg BT 127.06 338.75 Td (emen) Tj ET Q q 0 0 0 rg BT 150.16 338.75 Td (t) Tj ET Q q 0 0 0 rg BT 153.38 338.75 Td (al r) Tj ET Q q 0 0 0 rg BT 166.08 338.75 Td (ede) Tj ET Q q 0 0 0 rg BT 181.24 338.75 Td (v) Tj ET Q q 0 0 0 rg BT 185.66 338.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 221.58 338.75 Td (t and e) Tj ET Q q 0 0 0 rg BT 249.58 338.75 Td (xpansion. F) Tj ET Q q 0 0 0 rg BT 295.18 338.75 Td (or de) Tj ET Q q 0 0 0 rg BT 316.38 338.75 Td (t) Tj ET Q q 0 0 0 rg BT 319.61 338.75 Td (ails on select Same Pr) Tj ET Q q 0 0 0 rg BT 407.04 338.75 Td (operty with incr) Tj ET Q q 0 0 0 rg BT 471.61 338.75 Td (emen) Tj ET Q q 0 0 0 rg BT 494.71 338.75 Td (t) Tj ET Q q 0 0 0 rg BT 497.94 338.75 Td (al ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 326.75 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 326.75 Td (ede) Tj ET Q q 0 0 0 rg BT 72.51 326.75 Td (v) Tj ET Q q 0 0 0 rg BT 76.93 326.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 112.85 326.75 Td (t and e) Tj ET Q q 0 0 0 rg BT 140.85 326.75 Td (xpansion, r) Tj ET Q q 0 0 0 rg BT 185.32 326.75 Td (e) Tj ET Q q 0 0 0 rg BT 190.21 326.75 Td (f) Tj ET Q q 0 0 0 rg BT 193.01 326.75 Td (er t) Tj ET Q q 0 0 0 rg BT 206.98 326.75 Td (o the Compan) Tj ET Q q 0 0 0 rg BT 264.06 326.75 Td (y) Tj ET Q q 0 0 0 rg BT 268.89 326.75 Td () Tj ET Q q 0 0 0 rg BT 270.78 326.75 Td (s 2014 Annual R) Tj ET Q q 0 0 0 rg BT 335.63 326.75 Td (eport.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 54.00 308.75 Td (Major R) Tj ET Q q 0 0 0 rg BT 87.11 308.75 Td (ede) Tj ET Q q 0 0 0 rg BT 102.13 308.75 Td (velopmen) Tj ET Q q 0 0 0 rg BT 142.87 308.75 Td (t) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 293.75 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 293.75 Td (y classifies ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.78 293.75 Td (nine) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 167.56 293.75 Td ( pr) Tj ET Q q 0 0 0 rg BT 178.40 293.75 Td (operties t) Tj ET Q q 0 0 0 rg BT 217.43 293.75 Td (ot) Tj ET Q q 0 0 0 rg BT 225.93 293.75 Td (aling ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 247.54 293.75 Td ($1.0 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 292.49 293.75 Td ( in in) Tj ET Q q 0 0 0 rg BT 311.94 293.75 Td (v) Tj ET Q q 0 0 0 rg BT 316.36 293.75 Td (es) Tj ET Q q 0 0 0 rg BT 325.13 293.75 Td (t) Tj ET Q q 0 0 0 rg BT 328.38 293.75 Td (ed c) Tj ET Q q 0 0 0 rg BT 345.01 293.75 Td (os) Tj ET Q q 0 0 0 rg BT 354.08 293.75 Td (t as pr) Tj ET Q q 0 0 0 rg BT 379.23 293.75 Td (operties with major r) Tj ET Q q 0 0 0 rg BT 464.87 293.75 Td (ede) Tj ET Q q 0 0 0 rg BT 480.03 293.75 Td (v) Tj ET Q q 0 0 0 rg BT 484.44 293.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 520.37 293.75 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 281.75 Td (activities. Of the appr) Tj ET Q q 0 0 0 rg BT 141.19 281.75 Td (o) Tj ET Q q 0 0 0 rg BT 146.27 281.75 Td (xima) Tj ET Q q 0 0 0 rg BT 165.58 281.75 Td (t) Tj ET Q q 0 0 0 rg BT 168.82 281.75 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 182.88 281.75 Td (296,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.78 281.75 Td ( squar) Tj ET Q q 0 0 0 rg BT 240.61 281.75 Td (e f) Tj ET Q q 0 0 0 rg BT 250.65 281.75 Td (ee) Tj ET Q q 0 0 0 rg BT 260.54 281.75 Td (t under activ) Tj ET Q q 0 0 0 rg BT 311.72 281.75 Td (e r) Tj ET Q q 0 0 0 rg BT 322.31 281.75 Td (ede) Tj ET Q q 0 0 0 rg BT 337.47 281.75 Td (v) Tj ET Q q 0 0 0 rg BT 341.89 281.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 377.81 281.75 Td (t, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 385.91 281.75 Td (104,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.82 281.75 Td ( squar) Tj ET Q q 0 0 0 rg BT 443.64 281.75 Td (e f) Tj ET Q q 0 0 0 rg BT 453.68 281.75 Td (ee) Tj ET Q q 0 0 0 rg BT 463.58 281.75 Td (t is subject t) Tj ET Q q 0 0 0 rg BT 512.54 281.75 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 269.75 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 269.75 Td (ommit) Tj ET Q q 0 0 0 rg BT 84.90 269.75 Td (t) Tj ET Q q 0 0 0 rg BT 88.14 269.75 Td (ed leases a) Tj ET Q q 0 0 0 rg BT 132.45 269.75 Td (t a w) Tj ET Q q 0 0 0 rg BT 152.17 269.75 Td (eigh) Tj ET Q q 0 0 0 rg BT 169.31 269.75 Td (t) Tj ET Q q 0 0 0 rg BT 172.55 269.75 Td (ed a) Tj ET Q q 0 0 0 rg BT 189.66 269.75 Td (v) Tj ET Q q 0 0 0 rg BT 194.08 269.75 Td (er) Tj ET Q q 0 0 0 rg BT 202.34 269.75 Td (ag) Tj ET Q q 0 0 0 rg BT 211.75 269.75 Td (e r) Tj ET Q q 0 0 0 rg BT 222.27 269.75 Td (a) Tj ET Q q 0 0 0 rg BT 226.97 269.75 Td (t) Tj ET Q q 0 0 0 rg BT 230.21 269.75 Td (e of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.03 269.75 Td ($32.86) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 275.90 269.75 Td ( per squar) Tj ET Q q 0 0 0 rg BT 316.70 269.75 Td (e f) Tj ET Q q 0 0 0 rg BT 326.78 269.75 Td (oot. As c) Tj ET Q q 0 0 0 rg BT 361.56 269.75 Td (ons) Tj ET Q q 0 0 0 rg BT 375.89 269.75 Td (truction on these r) Tj ET Q q 0 0 0 rg BT 451.51 269.75 Td (ede) Tj ET Q q 0 0 0 rg BT 466.67 269.75 Td (v) Tj ET Q q 0 0 0 rg BT 471.08 269.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 507.01 269.75 Td (t pr) Tj ET Q q 0 0 0 rg BT 521.20 269.75 Td (ojects ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 257.75 Td (occur) Tj ET Q q 0 0 0 rg BT 76.30 257.75 Td (s in phases, ther) Tj ET Q q 0 0 0 rg BT 142.07 257.75 Td (e c) Tj ET Q q 0 0 0 rg BT 153.45 257.75 Td (on) Tj ET Q q 0 0 0 rg BT 163.88 257.75 Td (tinue t) Tj ET Q q 0 0 0 rg BT 190.52 257.75 Td (o be ong) Tj ET Q q 0 0 0 rg BT 225.71 257.75 Td (oing neg) Tj ET Q q 0 0 0 rg BT 260.37 257.75 Td (otia) Tj ET Q q 0 0 0 rg BT 275.99 257.75 Td (tions in v) Tj ET Q q 0 0 0 rg BT 312.51 257.75 Td (arious s) Tj ET Q q 0 0 0 rg BT 343.58 257.75 Td (t) Tj ET Q q 0 0 0 rg BT 346.81 257.75 Td (ag) Tj ET Q q 0 0 0 rg BT 356.22 257.75 Td (es with cert) Tj ET Q q 0 0 0 rg BT 403.59 257.75 Td (ain r) Tj ET Q q 0 0 0 rg BT 421.55 257.75 Td (e) Tj ET Q q 0 0 0 rg BT 426.47 257.75 Td (t) Tj ET Q q 0 0 0 rg BT 429.70 257.75 Td (ailer) Tj ET Q q 0 0 0 rg BT 447.37 257.75 Td (s f) Tj ET Q q 0 0 0 rg BT 456.38 257.75 Td (or the r) Tj ET Q q 0 0 0 rg BT 486.60 257.75 Td (emaining ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 245.75 Td (planned space. F) Tj ET Q q 0 0 0 rg BT 121.74 245.75 Td (or de) Tj ET Q q 0 0 0 rg BT 142.94 245.75 Td (t) Tj ET Q q 0 0 0 rg BT 146.16 245.75 Td (ails on major r) Tj ET Q q 0 0 0 rg BT 204.05 245.75 Td (ede) Tj ET Q q 0 0 0 rg BT 219.21 245.75 Td (v) Tj ET Q q 0 0 0 rg BT 223.62 245.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 259.55 245.75 Td (t pr) Tj ET Q q 0 0 0 rg BT 273.74 245.75 Td (operties, r) Tj ET Q q 0 0 0 rg BT 315.37 245.75 Td (e) Tj ET Q q 0 0 0 rg BT 320.25 245.75 Td (f) Tj ET Q q 0 0 0 rg BT 323.06 245.75 Td (er t) Tj ET Q q 0 0 0 rg BT 337.03 245.75 Td (o the Compan) Tj ET Q q 0 0 0 rg BT 394.11 245.75 Td (y) Tj ET Q q 0 0 0 rg BT 398.94 245.75 Td () Tj ET Q q 0 0 0 rg BT 400.83 245.75 Td (s 2014 Annual R) Tj ET Q q 0 0 0 rg BT 465.68 245.75 Td (eport.) Tj ET Q endstream endobj 53 0 obj <> endobj 54 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (25) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 694.50 Td (Highligh) Tj ET Q q 0 0 0 rg BT 86.94 694.50 Td (ts of the Compan) Tj ET Q q 0 0 0 rg BT 156.60 694.50 Td (y) Tj ET Q q 0 0 0 rg BT 161.43 694.50 Td () Tj ET Q q 0 0 0 rg BT 163.31 694.50 Td (s curr) Tj ET Q q 0 0 0 rg BT 185.81 694.50 Td (en) Tj ET Q q 0 0 0 rg BT 195.94 694.50 Td (t major r) Tj ET Q q 0 0 0 rg BT 231.10 694.50 Td (ede) Tj ET Q q 0 0 0 rg BT 246.26 694.50 Td (v) Tj ET Q q 0 0 0 rg BT 250.67 694.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 286.60 694.50 Td (t under) Tj ET Q q 0 0 0 rg BT 316.49 694.50 Td (w) Tj ET Q q 0 0 0 rg BT 323.52 694.50 Td (a) Tj ET Q q 0 0 0 rg BT 328.13 694.50 Td (y) Tj ET Q q 0 0 0 rg BT 331.94 694.50 Td (, including c) Tj ET Q q 0 0 0 rg BT 379.94 694.50 Td (os) Tj ET Q q 0 0 0 rg BT 389.01 694.50 Td (ts f) Tj ET Q q 0 0 0 rg BT 401.37 694.50 Td (or c) Tj ET Q q 0 0 0 rg BT 416.54 694.50 Td (omple) Tj ET Q q 0 0 0 rg BT 442.27 694.50 Td (t) Tj ET Q q 0 0 0 rg BT 445.51 694.50 Td (ed phases, ar) Tj ET Q q 0 0 0 rg BT 499.00 694.50 Td (e as f) Tj ET Q q 0 0 0 rg BT 520.04 694.50 Td (ollo) Tj ET Q q 0 0 0 rg BT 535.14 694.50 Td (w) Tj ET Q q 0 0 0 rg BT 542.20 694.50 Td (s:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 684 m 69.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 669 m 69.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 69.5 684 m 149.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 69.5 669 m 149.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 149.5 684 m 208.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 149.5 669 m 208.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 208.5 684 m 248.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 208.5 669 m 248.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 684 m 296.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 248.5 669 m 296.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 684 m 338.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296.5 669 m 338.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 684 m 384.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338.5 669 m 384.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 684 m 426.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384.5 669 m 426.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 684 m 470.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 669 m 470.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 684 m 504.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 669 m 504.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 684 m 545.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 669 m 545.5 669 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 545.5 684 m 558.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 545.5 669 m 558.5 669 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 654 m 69.5 654 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 69.5 654 m 149.5 654 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 149.5 654 m 208.5 654 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 208.5 654 m 248.5 654 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 248.5 654 m 296.5 654 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296.5 654 m 338.5 654 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338.5 654 m 384.5 654 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384.5 654 m 426.5 654 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 654 m 470.5 654 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 654 m 504.5 654 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 654 m 545.5 654 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 545.5 654 m 558.5 654 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 621 m 69.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 69.5 621 m 149.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 149.5 621 m 208.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 208.5 621 m 248.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 248.5 621 m 296.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296.5 621 m 338.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338.5 621 m 384.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384.5 621 m 426.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 621 m 470.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 621 m 504.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 621 m 545.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 545.5 621 m 558.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 493 m 69.5 493 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 478 m 69.5 478 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 69.5 493 m 149.5 493 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 69.5 478 m 149.5 478 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 149.5 493 m 208.5 493 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 149.5 478 m 208.5 478 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 208.5 493 m 248.5 493 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 208.5 478 m 248.5 478 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 248.5 493 m 296.5 493 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 248.5 478 m 296.5 478 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296.5 493 m 338.5 493 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296.5 478 m 338.5 478 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338.5 493 m 384.5 493 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338.5 478 m 384.5 478 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384.5 493 m 426.5 493 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384.5 478 m 426.5 478 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 493 m 470.5 493 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 478 m 470.5 478 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 493 m 504.5 493 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 478 m 504.5 478 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 493 m 545.5 493 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 478 m 545.5 478 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 545.5 493 m 558.5 493 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 545.5 478 m 558.5 478 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384.5 313 m 426.5 313 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 313 m 69.5 313 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 298 m 69.5 298 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 69.5 313 m 149.5 313 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 69.5 298 m 149.5 298 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 149.5 313 m 208.5 313 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 149.5 298 m 208.5 298 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 208.5 313 m 248.5 313 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 208.5 298 m 248.5 298 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 248.5 313 m 296.5 313 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 248.5 298 m 296.5 298 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296.5 313 m 338.5 313 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296.5 298 m 338.5 298 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338.5 313 m 384.5 313 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338.5 298 m 384.5 298 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384.5 313 m 426.5 313 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384.5 298 m 426.5 298 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 313 m 470.5 313 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 298 m 470.5 298 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 313 m 504.5 313 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 298 m 504.5 298 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 313 m 545.5 313 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 298 m 545.5 298 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 545.5 313 m 558.5 313 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 545.5 298 m 558.5 298 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 283 m 69.5 283 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 69.5 283 m 149.5 283 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 149.5 283 m 208.5 283 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 208.5 283 m 248.5 283 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 283 m 296.5 283 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 283 m 338.5 283 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 283 m 384.5 283 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 283 m 426.5 283 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 283 m 470.5 283 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 283 m 504.5 283 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 283 m 545.5 283 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 545.5 283 m 558.5 283 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 673.75 Td (As at March 31, 2015) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 658.50 Td (\(thousands of dollars, except for other data\)) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 57.00 625.13 Td (Count/Property) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 152.00 638.13 Td (Major Tenants/) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 152.00 631.63 Td (Development) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 152.00 625.13 Td (Status) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 223.55 644.63 Td (Planned) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 213.65 638.13 Td (Square Feet) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 230.55 631.63 Td (Upon) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 214.25 625.13 Td (Completion) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 256.85 638.13 Td (Comple) Tj ET Q q 0 0 0 rg BT 277.04 638.13 Td (t) Tj ET Q q 0 0 0 rg BT 279.15 638.13 Td (ed or ) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 253.05 631.63 Td (Exis) Tj ET Q q 0 0 0 rg BT 263.00 631.63 Td (ting Squar) Tj ET Q q 0 0 0 rg BT 289.72 631.63 Td (e ) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 275.30 625.13 Td (F) Tj ET Q q 0 0 0 rg BT 278.19 625.13 Td (ee) Tj ET Q q 0 0 0 rg BT 284.63 625.13 Td (t ) Tj ET Q BT /F3 6.50 Tf ET BT /F3 4.22 Tf ET q 0 0 0 rg BT 288.27 628.22 Td (\(1\)) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 303.65 638.13 Td (Square Feet) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 318.45 631.63 Td (Under) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 299.35 625.13 Td (Development) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 364.65 638.13 Td (Target) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 350.25 631.63 Td (Completion) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 368.60 625.13 Td (Date) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 410.25 644.63 Td (Total) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 396.65 638.13 Td (Estimated) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 399.20 631.63 Td (Cost incl.) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 410.30 625.13 Td (Land) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 431.70 625.13 Td (Invested Cost) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 474.65 638.13 Td (Estimated) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 482.40 631.63 Td (Cost to) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 475.45 625.13 Td (Complete) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 516.25 625.13 Td (Fair Value) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 72.00 610.75 Td (Major redevelopment with active development) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 597.50 Td (1.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 72.00 597.50 Td (Carre Lucerne Assets,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 589.50 Td (Montreal, QC) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 152.00 597.50 Td (Provigo,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 161.00 589.50 Td (Pharmaprix) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 219.20 597.50 Td (117,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 271.25 597.50 Td (31,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 313.25 597.50 Td (86,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 351.50 597.50 Td (Q3, 2017) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 387.00 597.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 401.25 597.50 Td (53,860) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 429.00 597.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 445.25 597.50 Td (38,157) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 473.00 597.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 479.25 597.50 Td (15,703) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 571.50 Td (2.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 72.00 571.50 Td (Mount Royal Village) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 563.50 Td (Assets,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 555.50 Td (Calgary, AB) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 152.00 571.50 Td (London Drugs,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 161.00 563.50 Td (Oasis Spa) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 161.00 555.50 Td (and) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 161.00 547.50 Td (Wellness,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 161.00 539.50 Td (GoodLife) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 161.00 531.50 Td (Fitness,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 219.20 571.50 Td (348,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 267.20 571.50 Td (185,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 309.20 571.50 Td (163,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 351.50 571.50 Td (Q3, 2017) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 397.20 571.50 Td (202,539) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 441.20 571.50 Td (160,898) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 479.25 571.50 Td (41,641) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 518.50 Td (3.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 72.00 518.50 Td (Yorkville Village) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 510.50 Td (Assets,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 502.50 Td (Toronto, ON) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 152.00 518.50 Td (Whole Foods) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 161.00 510.50 Td (Market,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 161.00 502.50 Td (Equinox) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 161.00 494.50 Td (Fitness) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 219.20 518.50 Td (285,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 267.20 518.50 Td (238,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 313.25 518.50 Td (47,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 351.50 518.50 Td (Q2, 2016) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 397.20 518.50 Td (338,900) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 441.20 518.50 Td (305,873) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 479.25 518.50 Td (33,027) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 219.20 484.50 Td (750,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 267.20 484.50 Td (454,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 309.20 484.50 Td (296,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 387.00 484.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 397.20 484.50 Td (595,299) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 429.00 484.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 441.20 484.50 Td (504,928) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 473.00 484.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 479.25 484.50 Td (90,371) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 72.00 467.75 Td (Major redevelopment in pre-development) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 454.50 Td (1.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 72.00 454.50 Td (Humbertown) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 446.50 Td (Shopping Centre,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 438.50 Td (Toronto, ON) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 152.00 454.50 Td (Advanced) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 152.00 446.50 Td (entitlements) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 267.20 454.50 Td (108,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 387.00 454.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 401.25 454.50 Td (59,583) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 429.00 454.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 445.25 454.50 Td (59,583) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 425.50 Td (2.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 72.00 425.50 Td (Victoria Park Centres,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 417.50 Td (Toronto, ON) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 152.00 425.50 Td (Planning) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 152.00 417.50 Td (underway) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 267.20 425.50 Td (484,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 397.20 425.50 Td (131,929) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 441.20 425.50 Td (131,929) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 404.50 Td (3.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 72.00 404.50 Td (Place Portobello) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 396.50 Td (Assets,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 388.50 Td ( Brossard, QC) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 152.00 404.50 Td (Planning) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 152.00 396.50 Td (underway) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 267.20 404.50 Td (575,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 401.25 404.50 Td (88,366) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 445.25 404.50 Td (88,366) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 375.50 Td (4.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 72.00 375.50 Td (Semiahmoo Shopping) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 367.50 Td (Centre,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 359.50 Td (Surrey, BC) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 152.00 375.50 Td (Planning) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 152.00 367.50 Td (underway) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 267.20 375.50 Td (230,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 401.25 375.50 Td (98,422) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 445.25 375.50 Td (98,422) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 346.50 Td (5.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 72.00 346.50 Td (Macleod Trail Assets,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 338.50 Td (Calgary, AB) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 152.00 346.50 Td (Planning) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 152.00 338.50 Td (underway) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 267.20 346.50 Td (300,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 401.25 346.50 Td (92,909) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 445.25 346.50 Td (92,909) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 325.50 Td (6.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 72.00 325.50 Td (3080 Yonge Street,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 81.00 317.50 Td (Toronto, ON) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 152.00 325.50 Td (Planning) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 152.00 317.50 Td (underway) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 267.20 325.50 Td (235,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 401.25 325.50 Td (66,133) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 445.25 325.50 Td (66,133) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 261.15 304.50 Td (1,932,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 328.30 304.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 387.00 304.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 397.20 304.50 Td (537,342) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 429.00 304.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 441.20 304.50 Td (537,342) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 473.00 304.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 494.30 304.50 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 72.00 289.50 Td (Total major redevelopment) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 261.15 289.50 Td (2,386,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 309.20 289.50 Td (296,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 387.00 289.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 391.15 289.50 Td (1,132,641) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 429.00 289.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 435.15 289.50 Td (1,042,270) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 473.00 289.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 479.25 289.50 Td (90,371) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 507.00 289.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 510.15 289.50 Td (1,010,808) Tj ET Q BT /F3 5.20 Tf ET q 0 0 0 rg BT 548.00 291.76 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 275.44 Td (\(1\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 272.10 Td (Includes v) Tj ET Q q 0 0 0 rg BT 91.23 272.10 Td (ac) Tj ET Q q 0 0 0 rg BT 97.48 272.10 Td (an) Tj ET Q q 0 0 0 rg BT 104.45 272.10 Td (t units held f) Tj ET Q q 0 0 0 rg BT 140.02 272.10 Td (or r) Tj ET Q q 0 0 0 rg BT 150.08 272.10 Td (ede) Tj ET Q q 0 0 0 rg BT 160.69 272.10 Td (v) Tj ET Q q 0 0 0 rg BT 163.78 272.10 Td (elopmen) Tj ET Q q 0 0 0 rg BT 188.93 272.10 Td (t.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 267.04 Td (\(2\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 263.70 Td (Adjacen) Tj ET Q q 0 0 0 rg BT 85.81 263.70 Td (t pr) Tj ET Q q 0 0 0 rg BT 95.74 263.70 Td (operties with an ag) Tj ET Q q 0 0 0 rg BT 150.33 263.70 Td (gr) Tj ET Q q 0 0 0 rg BT 155.98 263.70 Td (eg) Tj ET Q q 0 0 0 rg BT 162.62 263.70 Td (a) Tj ET Q q 0 0 0 rg BT 165.91 263.70 Td (t) Tj ET Q q 0 0 0 rg BT 168.18 263.70 Td (e f) Tj ET Q q 0 0 0 rg BT 175.25 263.70 Td (air v) Tj ET Q q 0 0 0 rg BT 187.29 263.70 Td (alue of $52 million ar) Tj ET Q q 0 0 0 rg BT 247.30 263.70 Td (e included in Acquisitions 2015 and Acquisitions 2014 c) Tj ET Q q 0 0 0 rg BT 413.97 263.70 Td (a) Tj ET Q q 0 0 0 rg BT 417.26 263.70 Td (t) Tj ET Q q 0 0 0 rg BT 419.53 263.70 Td (eg) Tj ET Q q 0 0 0 rg BT 426.26 263.70 Td (ories.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 54.00 245.70 Td (Ground-up De) Tj ET Q q 0 0 0 rg BT 112.00 245.70 Td (velopmen) Tj ET Q q 0 0 0 rg BT 152.74 245.70 Td (t) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 230.70 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 230.70 Td (y classifies ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.78 230.70 Td (thr) Tj ET Q q 0 0 0 rg BT 161.74 230.70 Td (ee) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 171.69 230.70 Td ( pr) Tj ET Q q 0 0 0 rg BT 182.53 230.70 Td (operties t) Tj ET Q q 0 0 0 rg BT 221.56 230.70 Td (ot) Tj ET Q q 0 0 0 rg BT 230.06 230.70 Td (aling ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 251.67 230.70 Td ($284 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 301.90 230.70 Td ( in in) Tj ET Q q 0 0 0 rg BT 321.35 230.70 Td (v) Tj ET Q q 0 0 0 rg BT 325.77 230.70 Td (es) Tj ET Q q 0 0 0 rg BT 334.54 230.70 Td (t) Tj ET Q q 0 0 0 rg BT 337.78 230.70 Td (ed c) Tj ET Q q 0 0 0 rg BT 354.42 230.70 Td (os) Tj ET Q q 0 0 0 rg BT 363.49 230.70 Td (t as gr) Tj ET Q q 0 0 0 rg BT 388.10 230.70 Td (ound-up de) Tj ET Q q 0 0 0 rg BT 435.14 230.70 Td (v) Tj ET Q q 0 0 0 rg BT 439.56 230.70 Td (elopmen) Tj ET Q q 0 0 0 rg BT 475.48 230.70 Td (t pr) Tj ET Q q 0 0 0 rg BT 489.67 230.70 Td (operties ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 218.70 Td (under) Tj ET Q q 0 0 0 rg BT 78.28 218.70 Td (w) Tj ET Q q 0 0 0 rg BT 85.31 218.70 Td (a) Tj ET Q q 0 0 0 rg BT 89.92 218.70 Td (y or c) Tj ET Q q 0 0 0 rg BT 111.87 218.70 Td (omple) Tj ET Q q 0 0 0 rg BT 137.60 218.70 Td (t) Tj ET Q q 0 0 0 rg BT 140.85 218.70 Td (ed. Of the appr) Tj ET Q q 0 0 0 rg BT 202.26 218.70 Td (o) Tj ET Q q 0 0 0 rg BT 207.33 218.70 Td (xima) Tj ET Q q 0 0 0 rg BT 226.65 218.70 Td (t) Tj ET Q q 0 0 0 rg BT 229.89 218.70 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 243.95 218.70 Td (828,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 276.85 218.70 Td ( squar) Tj ET Q q 0 0 0 rg BT 301.68 218.70 Td (e f) Tj ET Q q 0 0 0 rg BT 311.71 218.70 Td (ee) Tj ET Q q 0 0 0 rg BT 321.61 218.70 Td (t under activ) Tj ET Q q 0 0 0 rg BT 372.79 218.70 Td (e de) Tj ET Q q 0 0 0 rg BT 390.21 218.70 Td (v) Tj ET Q q 0 0 0 rg BT 394.63 218.70 Td (elopmen) Tj ET Q q 0 0 0 rg BT 430.55 218.70 Td (t, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 438.65 218.70 Td (94,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 466.49 218.70 Td ( squar) Tj ET Q q 0 0 0 rg BT 491.31 218.70 Td (e f) Tj ET Q q 0 0 0 rg BT 501.35 218.70 Td (ee) Tj ET Q q 0 0 0 rg BT 511.25 218.70 Td (t is ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 206.70 Td (subject t) Tj ET Q q 0 0 0 rg BT 88.88 206.70 Td (o c) Tj ET Q q 0 0 0 rg BT 100.56 206.70 Td (ommit) Tj ET Q q 0 0 0 rg BT 127.31 206.70 Td (t) Tj ET Q q 0 0 0 rg BT 130.55 206.70 Td (ed leases a) Tj ET Q q 0 0 0 rg BT 174.86 206.70 Td (t a w) Tj ET Q q 0 0 0 rg BT 194.58 206.70 Td (eigh) Tj ET Q q 0 0 0 rg BT 211.72 206.70 Td (t) Tj ET Q q 0 0 0 rg BT 214.96 206.70 Td (ed a) Tj ET Q q 0 0 0 rg BT 232.08 206.70 Td (v) Tj ET Q q 0 0 0 rg BT 236.50 206.70 Td (er) Tj ET Q q 0 0 0 rg BT 244.75 206.70 Td (ag) Tj ET Q q 0 0 0 rg BT 254.17 206.70 Td (e r) Tj ET Q q 0 0 0 rg BT 264.68 206.70 Td (a) Tj ET Q q 0 0 0 rg BT 269.38 206.70 Td (t) Tj ET Q q 0 0 0 rg BT 272.62 206.70 Td (e of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 290.45 206.70 Td ($24.00) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 318.31 206.70 Td ( per squar) Tj ET Q q 0 0 0 rg BT 359.11 206.70 Td (e f) Tj ET Q q 0 0 0 rg BT 369.19 206.70 Td (oot. As c) Tj ET Q q 0 0 0 rg BT 403.98 206.70 Td (ons) Tj ET Q q 0 0 0 rg BT 418.30 206.70 Td (truction on gr) Tj ET Q q 0 0 0 rg BT 473.87 206.70 Td (ound-up ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 194.70 Td (de) Tj ET Q q 0 0 0 rg BT 64.18 194.70 Td (v) Tj ET Q q 0 0 0 rg BT 68.60 194.70 Td (elopmen) Tj ET Q q 0 0 0 rg BT 104.52 194.70 Td (ts occur) Tj ET Q q 0 0 0 rg BT 136.34 194.70 Td (s in phases, ther) Tj ET Q q 0 0 0 rg BT 202.11 194.70 Td (e c) Tj ET Q q 0 0 0 rg BT 213.49 194.70 Td (on) Tj ET Q q 0 0 0 rg BT 223.93 194.70 Td (tinues t) Tj ET Q q 0 0 0 rg BT 254.48 194.70 Td (o be ong) Tj ET Q q 0 0 0 rg BT 289.67 194.70 Td (oing neg) Tj ET Q q 0 0 0 rg BT 324.33 194.70 Td (otia) Tj ET Q q 0 0 0 rg BT 339.94 194.70 Td (tions in v) Tj ET Q q 0 0 0 rg BT 376.47 194.70 Td (arious s) Tj ET Q q 0 0 0 rg BT 407.54 194.70 Td (t) Tj ET Q q 0 0 0 rg BT 410.76 194.70 Td (ag) Tj ET Q q 0 0 0 rg BT 420.18 194.70 Td (es with r) Tj ET Q q 0 0 0 rg BT 454.99 194.70 Td (e) Tj ET Q q 0 0 0 rg BT 459.91 194.70 Td (t) Tj ET Q q 0 0 0 rg BT 463.14 194.70 Td (ailer) Tj ET Q q 0 0 0 rg BT 480.81 194.70 Td (s f) Tj ET Q q 0 0 0 rg BT 489.82 194.70 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 182.70 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 182.70 Td (emaining planned space. F) Tj ET Q q 0 0 0 rg BT 164.91 182.70 Td (or de) Tj ET Q q 0 0 0 rg BT 186.11 182.70 Td (t) Tj ET Q q 0 0 0 rg BT 189.34 182.70 Td (ails on gr) Tj ET Q q 0 0 0 rg BT 225.71 182.70 Td (ound-up de) Tj ET Q q 0 0 0 rg BT 272.75 182.70 Td (v) Tj ET Q q 0 0 0 rg BT 277.17 182.70 Td (elopmen) Tj ET Q q 0 0 0 rg BT 313.10 182.70 Td (t pr) Tj ET Q q 0 0 0 rg BT 327.29 182.70 Td (operties, r) Tj ET Q q 0 0 0 rg BT 368.92 182.70 Td (e) Tj ET Q q 0 0 0 rg BT 373.80 182.70 Td (f) Tj ET Q q 0 0 0 rg BT 376.61 182.70 Td (er t) Tj ET Q q 0 0 0 rg BT 390.58 182.70 Td (o the Compan) Tj ET Q q 0 0 0 rg BT 447.66 182.70 Td (y) Tj ET Q q 0 0 0 rg BT 452.49 182.70 Td () Tj ET Q q 0 0 0 rg BT 454.38 182.70 Td (s 2014 Annual R) Tj ET Q q 0 0 0 rg BT 519.23 182.70 Td (eport.) Tj ET Q endstream endobj 55 0 obj <> endobj 56 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (26) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 694.50 Td (Highligh) Tj ET Q q 0 0 0 rg BT 86.94 694.50 Td (ts of the Compan) Tj ET Q q 0 0 0 rg BT 156.60 694.50 Td (y) Tj ET Q q 0 0 0 rg BT 161.43 694.50 Td () Tj ET Q q 0 0 0 rg BT 163.31 694.50 Td (s curr) Tj ET Q q 0 0 0 rg BT 185.81 694.50 Td (en) Tj ET Q q 0 0 0 rg BT 195.94 694.50 Td (t gr) Tj ET Q q 0 0 0 rg BT 209.59 694.50 Td (ound-up pr) Tj ET Q q 0 0 0 rg BT 255.03 694.50 Td (ojects under) Tj ET Q q 0 0 0 rg BT 305.70 694.50 Td (w) Tj ET Q q 0 0 0 rg BT 312.74 694.50 Td (a) Tj ET Q q 0 0 0 rg BT 317.34 694.50 Td (y) Tj ET Q q 0 0 0 rg BT 321.15 694.50 Td (, including c) Tj ET Q q 0 0 0 rg BT 369.15 694.50 Td (os) Tj ET Q q 0 0 0 rg BT 378.22 694.50 Td (ts f) Tj ET Q q 0 0 0 rg BT 390.59 694.50 Td (or c) Tj ET Q q 0 0 0 rg BT 405.75 694.50 Td (omple) Tj ET Q q 0 0 0 rg BT 431.49 694.50 Td (t) Tj ET Q q 0 0 0 rg BT 434.73 694.50 Td (ed phases, ar) Tj ET Q q 0 0 0 rg BT 488.21 694.50 Td (e as f) Tj ET Q q 0 0 0 rg BT 509.25 694.50 Td (ollo) Tj ET Q q 0 0 0 rg BT 524.35 694.50 Td (w) Tj ET Q q 0 0 0 rg BT 531.41 694.50 Td (s:) Tj ET Q 1 1 1 rg /GS0 gs 54.50 613.00 17.00 -27.00 re f /GS0 gs 1 1 1 rg /GS0 gs 71.50 613.00 110.00 -27.00 re f /GS0 gs 1 1 1 rg /GS0 gs 181.50 613.00 64.00 -27.00 re f /GS0 gs 1 1 1 rg /GS0 gs 245.50 613.00 39.00 -27.00 re f /GS0 gs 1 1 1 rg /GS0 gs 284.50 613.00 36.00 -27.00 re f /GS0 gs 1 1 1 rg /GS0 gs 320.50 613.00 46.00 -27.00 re f /GS0 gs 1 1 1 rg /GS0 gs 366.50 613.00 37.00 -27.00 re f /GS0 gs 1 1 1 rg /GS0 gs 403.50 613.00 37.00 -27.00 re f /GS0 gs 1 1 1 rg /GS0 gs 440.50 613.00 40.00 -27.00 re f /GS0 gs 1 1 1 rg /GS0 gs 480.50 613.00 37.00 -27.00 re f /GS0 gs 1 1 1 rg /GS0 gs 517.50 613.00 38.00 -27.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 684 m 71.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 672 m 71.5 672 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 71.5 684 m 181.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 672 m 181.5 672 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 181.5 684 m 245.5 684 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 684 m 284.5 684 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 684 m 320.5 684 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 684 m 366.5 684 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 684 m 403.5 684 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 684 m 440.5 684 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 684 m 480.5 684 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 684 m 517.5 684 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 684 m 555.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 672 m 71.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 672 m 181.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181.5 672 m 245.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 245.5 672 m 284.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 672 m 320.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 320.5 672 m 366.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366.5 672 m 403.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 672 m 440.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440.5 672 m 480.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 672 m 517.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517.5 672 m 555.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 660 m 71.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 628 m 71.5 628 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 660 m 181.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 628 m 181.5 628 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181.5 660 m 245.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181.5 628 m 245.5 628 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 245.5 660 m 284.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 245.5 628 m 284.5 628 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 660 m 320.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 628 m 320.5 628 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 320.5 660 m 366.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 320.5 628 m 366.5 628 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366.5 660 m 403.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366.5 628 m 403.5 628 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 660 m 440.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 628 m 440.5 628 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440.5 660 m 480.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440.5 628 m 480.5 628 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 660 m 517.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 628 m 517.5 628 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517.5 660 m 555.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517.5 628 m 555.5 628 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 628 m 71.5 628 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 628 m 181.5 628 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181.5 628 m 245.5 628 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 529 m 71.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 529 m 181.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 245.5 529 m 284.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 529 m 320.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 320.5 529 m 366.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366.5 529 m 403.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 529 m 440.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440.5 529 m 480.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 529 m 517.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517.5 529 m 555.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 529 m 71.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 515 m 71.5 515 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 529 m 181.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 515 m 181.5 515 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181.5 529 m 245.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181.5 515 m 245.5 515 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 245.5 529 m 284.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 245.5 515 m 284.5 515 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 529 m 320.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 515 m 320.5 515 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 320.5 529 m 366.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 320.5 515 m 366.5 515 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366.5 529 m 403.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366.5 515 m 403.5 515 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 529 m 440.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 515 m 440.5 515 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440.5 529 m 480.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440.5 515 m 480.5 515 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 529 m 517.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 515 m 517.5 515 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517.5 529 m 555.5 529 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517.5 515 m 555.5 515 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 462 m 71.5 462 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 442 m 71.5 442 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 462 m 181.5 462 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 442 m 181.5 442 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181.5 462 m 245.5 462 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181.5 442 m 245.5 442 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 245.5 462 m 284.5 462 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 245.5 442 m 284.5 442 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 462 m 320.5 462 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 442 m 320.5 442 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 320.5 462 m 366.5 462 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 320.5 442 m 366.5 442 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366.5 462 m 403.5 462 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366.5 442 m 403.5 442 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 462 m 440.5 462 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 442 m 440.5 442 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440.5 462 m 480.5 462 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440.5 442 m 480.5 442 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 462 m 517.5 462 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 442 m 517.5 442 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517.5 462 m 555.5 462 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517.5 442 m 555.5 442 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 408 m 71.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 408 m 181.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 245.5 408 m 284.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 408 m 320.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366.5 408 m 403.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 408 m 440.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440.5 408 m 480.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517.5 408 m 555.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 408 m 71.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 389 m 71.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 408 m 181.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 389 m 181.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181.5 408 m 245.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181.5 389 m 245.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 245.5 408 m 284.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 245.5 389 m 284.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 408 m 320.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 389 m 320.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 320.5 408 m 366.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 320.5 389 m 366.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366.5 408 m 403.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366.5 389 m 403.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 408 m 440.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 389 m 440.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440.5 408 m 480.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440.5 389 m 480.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 408 m 517.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 389 m 517.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517.5 408 m 555.5 408 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517.5 389 m 555.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 389 m 71.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 376 m 71.5 376 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 389 m 181.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 71.5 376 m 181.5 376 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181.5 389 m 245.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 181.5 376 m 245.5 376 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 245.5 389 m 284.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 376 m 284.5 376 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 389 m 320.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 376 m 320.5 376 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 320.5 389 m 366.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 376 m 366.5 376 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366.5 389 m 403.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 376 m 403.5 376 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 389 m 440.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 376 m 440.5 376 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440.5 389 m 480.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 376 m 480.5 376 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 389 m 517.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 376 m 517.5 376 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517.5 389 m 555.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 376 m 555.5 376 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 674.75 Td (As at March 31, 2015) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 663.50 Td (\(thousands of dollars, except for other data\)) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 57.00 632.13 Td (Count/Property) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 186.00 632.13 Td (Major Tenants) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 259.55 651.63 Td (Planned) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 249.65 645.13 Td (Square Feet) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 266.55 638.63 Td (Upon) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 250.25 632.13 Td (Completion) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 288.05 651.63 Td (Completed) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 289.70 645.13 Td (or Existing) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 298.65 638.63 Td (Square) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 305.45 632.13 Td (Feet) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 331.65 645.13 Td (Square Feet) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 346.45 638.63 Td (Under) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 327.35 632.13 Td (Development) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 383.65 645.13 Td (Target) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 369.25 638.63 Td (Completion) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 387.60 632.13 Td (Date) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 424.25 651.63 Td (Total) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 410.65 645.13 Td (Estimated) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 413.20 638.63 Td (Cost incl.) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 424.30 632.13 Td (Land) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 454.70 638.63 Td (Invested) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 465.45 632.13 Td (Cost) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 487.65 645.13 Td (Estimated) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 495.40 638.63 Td (Cost to) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 488.45 632.13 Td (Complete) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 542.30 638.63 Td (F) Tj ET Q q 0 0 0 rg BT 545.11 638.63 Td (air) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 537.40 632.13 Td (V) Tj ET Q q 0 0 0 rg BT 540.73 632.13 Td (alue) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 74.00 618.75 Td (Ground-up development with active development) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 604.50 Td (1.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.00 604.50 Td (Carrefour du Plateau-des-) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 83.00 596.50 Td (Grives,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 83.00 588.50 Td (Gatineau, QC) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 184.00 604.50 Td (Canadian Tire,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 193.00 596.50 Td (Sports Experts) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 255.20 604.50 Td (222,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 291.20 604.50 Td (201,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 341.25 604.50 Td (21,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 370.50 604.50 Td (Q2, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 406.00 604.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 415.25 604.50 Td (55,786) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 443.00 604.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 455.25 604.50 Td (50,021) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 483.00 604.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 496.30 604.50 Td (5,765) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 577.50 Td (2.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.00 577.50 Td (The Br) Tj ET Q q 0 0 0 rg BT 94.93 577.50 Td (e) Tj ET Q q 0 0 0 rg BT 98.87 577.50 Td (w) Tj ET Q q 0 0 0 rg BT 104.52 577.50 Td (er) Tj ET Q q 0 0 0 rg BT 111.32 577.50 Td (y Dis) Tj ET Q q 0 0 0 rg BT 126.55 577.50 Td (trict ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 83.00 569.50 Td (E) Tj ET Q q 0 0 0 rg BT 86.79 569.50 Td (dmon) Tj ET Q q 0 0 0 rg BT 105.73 569.50 Td (t) Tj ET Q q 0 0 0 rg BT 108.33 569.50 Td (on, AB ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 131.35 573.31 Td (\(1\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 184.00 577.50 Td (Loblaws City) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 193.00 569.50 Td (Market,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 193.00 561.50 Td (GoodLife) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 193.00 553.50 Td (Fitness) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 255.20 577.50 Td (320,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 310.30 577.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 337.20 577.50 Td (320,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 370.50 577.50 Td (Q2, 2016) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 415.25 577.50 Td (79,385) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 455.25 577.50 Td (32,096) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 492.25 577.50 Td (47,289) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.00 541.50 Td (King High Line \(Shop) Tj ET Q q 0 0 0 rg BT 140.25 541.50 Td (s a) Tj ET Q q 0 0 0 rg BT 148.94 541.50 Td (t King ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 83.00 533.50 Td (Liberty\), T) Tj ET Q q 0 0 0 rg BT 114.89 533.50 Td (or) Tj ET Q q 0 0 0 rg BT 121.77 533.50 Td (on) Tj ET Q q 0 0 0 rg BT 130.12 533.50 Td (t) Tj ET Q q 0 0 0 rg BT 132.72 533.50 Td (o) Tj ET Q q 0 0 0 rg BT 136.79 533.50 Td (, ON ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 152.87 537.31 Td (\(1\) \(2\) \(3\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 255.20 541.50 Td (487,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 310.30 541.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 337.20 541.50 Td (487,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 370.50 541.50 Td (Q3, 2017) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 411.20 541.50 Td (142,791) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 455.25 541.50 Td (46,931) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 492.25 541.50 Td (95,860) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 249.15 520.50 Td (1,029,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 291.20 520.50 Td (201,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 337.20 520.50 Td (828,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 406.00 520.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 411.20 520.50 Td (277,962) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 443.00 520.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 451.20 520.50 Td (129,048) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 483.00 520.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 488.20 520.50 Td (148,914) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 74.00 505.75 Td (Ground-up development at completion) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 491.50 Td (1.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.00 491.50 Td (Place Viau Assets,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 83.00 483.50 Td (Montreal, QC) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 184.00 491.50 Td (Walmart,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 193.00 483.50 Td (Michaels,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 193.00 475.50 Td (Marshalls,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 193.00 467.50 Td (Dollarama) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 255.20 491.50 Td (334,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 291.20 491.50 Td (334,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 356.30 491.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 370.50 491.50 Td (Q1, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 406.00 491.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 411.20 491.50 Td (140,649) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 443.00 491.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 451.20 491.50 Td (137,253) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 483.00 491.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 496.30 491.50 Td (3,396) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.00 453.50 Td (Total ground-up development ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 83.00 445.50 Td (at completion) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 255.20 453.50 Td (334,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 291.20 453.50 Td (334,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 356.30 453.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 406.00 453.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 411.20 453.50 Td (140,649) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 443.00 453.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 451.20 453.50 Td (137,253) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 483.00 453.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 496.30 453.50 Td (3,396) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 74.00 432.75 Td (Ground-up development pre-development) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.00 420.50 Td (Rutherf) Tj ET Q q 0 0 0 rg BT 98.47 420.50 Td (or) Tj ET Q q 0 0 0 rg BT 105.37 420.50 Td (d Mark) Tj ET Q q 0 0 0 rg BT 128.22 420.50 Td (e) Tj ET Q q 0 0 0 rg BT 132.16 420.50 Td (tplace, ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 83.00 412.50 Td (V) Tj ET Q q 0 0 0 rg BT 87.09 412.50 Td (aughan, ON \(R) Tj ET Q q 0 0 0 rg BT 133.84 412.50 Td (esiden) Tj ET Q q 0 0 0 rg BT 155.09 412.50 Td (tial\)) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 167.70 416.31 Td ( \(2\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 274.30 420.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 310.30 420.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 356.30 420.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 406.00 420.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 415.25 420.50 Td (17,494) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 443.00 420.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 455.25 420.50 Td (17,494) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 483.00 420.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 507.30 420.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 74.00 399.50 Td (Total ground-up development ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 83.00 391.50 Td (pre-development) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 274.30 399.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 310.30 399.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 356.30 399.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 406.00 399.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 415.25 399.50 Td (17,494) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 443.00 399.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 455.25 399.50 Td (17,494) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 483.00 399.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 507.30 399.50 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.00 380.50 Td (Total ground-up development) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 249.15 380.50 Td (1,363,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 291.20 380.50 Td (535,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 337.20 380.50 Td (828,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 406.00 380.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 411.20 380.50 Td (436,105) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 443.00 380.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 451.20 380.50 Td (283,795) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 483.00 380.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 488.20 380.50 Td (152,310) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 520.00 380.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 526.20 380.50 Td (283,104) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 371.44 Td (\(1\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 368.10 Td (The Compan) Tj ET Q q 0 0 0 rg BT 98.75 368.10 Td (y has 50% o) Tj ET Q q 0 0 0 rg BT 132.20 368.10 Td (wner) Tj ET Q q 0 0 0 rg BT 146.68 368.10 Td (ship in) Tj ET Q q 0 0 0 rg BT 165.18 368.10 Td (t) Tj ET Q q 0 0 0 rg BT 167.45 368.10 Td (er) Tj ET Q q 0 0 0 rg BT 173.28 368.10 Td (es) Tj ET Q q 0 0 0 rg BT 179.43 368.10 Td (t in the pr) Tj ET Q q 0 0 0 rg BT 207.31 368.10 Td (operty) Tj ET Q q 0 0 0 rg BT 225.66 368.10 Td (.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 363.04 Td (\(2\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 359.70 Td (These land par) Tj ET Q q 0 0 0 rg BT 104.64 359.70 Td (cels ar) Tj ET Q q 0 0 0 rg BT 122.71 359.70 Td (e additional phases f) Tj ET Q q 0 0 0 rg BT 181.19 359.70 Td (orming part of e) Tj ET Q q 0 0 0 rg BT 227.26 359.70 Td (xis) Tj ET Q q 0 0 0 rg BT 234.56 359.70 Td (ting s) Tj ET Q q 0 0 0 rg BT 249.73 359.70 Td (t) Tj ET Q q 0 0 0 rg BT 251.99 359.70 Td (able inc) Tj ET Q q 0 0 0 rg BT 273.88 359.70 Td (ome-pr) Tj ET Q q 0 0 0 rg BT 294.79 359.70 Td (oducing pr) Tj ET Q q 0 0 0 rg BT 324.96 359.70 Td (operties.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 354.69 Td (\(3\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 59.06 351.35 Td ( The squar) Tj ET Q q 0 0 0 rg BT 90.18 351.35 Td (e f) Tj ET Q q 0 0 0 rg BT 97.21 351.35 Td (ee) Tj ET Q q 0 0 0 rg BT 104.13 351.35 Td (t under de) Tj ET Q q 0 0 0 rg BT 133.73 351.35 Td (v) Tj ET Q q 0 0 0 rg BT 136.82 351.35 Td (elopmen) Tj ET Q q 0 0 0 rg BT 161.97 351.35 Td (t c) Tj ET Q q 0 0 0 rg BT 168.79 351.35 Td (omprises 157,000 squar) Tj ET Q q 0 0 0 rg BT 236.75 351.35 Td (e f) Tj ET Q q 0 0 0 rg BT 243.78 351.35 Td (ee) Tj ET Q q 0 0 0 rg BT 250.71 351.35 Td (t of r) Tj ET Q q 0 0 0 rg BT 264.40 351.35 Td (e) Tj ET Q q 0 0 0 rg BT 267.84 351.35 Td (t) Tj ET Q q 0 0 0 rg BT 270.10 351.35 Td (ail and 330,000 squar) Tj ET Q q 0 0 0 rg BT 330.95 351.35 Td (e f) Tj ET Q q 0 0 0 rg BT 337.98 351.35 Td (ee) Tj ET Q q 0 0 0 rg BT 344.91 351.35 Td (t of r) Tj ET Q q 0 0 0 rg BT 358.59 351.35 Td (esiden) Tj ET Q q 0 0 0 rg BT 377.19 351.35 Td (tial space. ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 54.00 329.15 Td (Main and Main De) Tj ET Q q 0 0 0 rg BT 138.41 329.15 Td (v) Tj ET Q q 0 0 0 rg BT 143.51 329.15 Td (elopmen) Tj ET Q q 0 0 0 rg BT 183.86 329.15 Td (ts ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 314.15 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 314.15 Td (y has an in) Tj ET Q q 0 0 0 rg BT 147.83 314.15 Td (t) Tj ET Q q 0 0 0 rg BT 151.08 314.15 Td (er) Tj ET Q q 0 0 0 rg BT 159.41 314.15 Td (es) Tj ET Q q 0 0 0 rg BT 168.18 314.15 Td (t in a T) Tj ET Q q 0 0 0 rg BT 194.63 314.15 Td (or) Tj ET Q q 0 0 0 rg BT 203.23 314.15 Td (on) Tj ET Q q 0 0 0 rg BT 213.67 314.15 Td (t) Tj ET Q q 0 0 0 rg BT 216.92 314.15 Td (o and Ot) Tj ET Q q 0 0 0 rg BT 251.84 314.15 Td (t) Tj ET Q q 0 0 0 rg BT 255.07 314.15 Td (a) Tj ET Q q 0 0 0 rg BT 259.79 314.15 Td (w) Tj ET Q q 0 0 0 rg BT 266.83 314.15 Td (a urban de) Tj ET Q q 0 0 0 rg BT 310.36 314.15 Td (v) Tj ET Q q 0 0 0 rg BT 314.78 314.15 Td (elopmen) Tj ET Q q 0 0 0 rg BT 350.70 314.15 Td (t partner) Tj ET Q q 0 0 0 rg BT 386.73 314.15 Td (ship \(kno) Tj ET Q q 0 0 0 rg BT 423.78 314.15 Td (wn as M+M Urban R) Tj ET Q q 0 0 0 rg BT 506.46 314.15 Td (ealty LP ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 302.15 Td (\(Main and Main Urban R) Tj ET Q q 0 0 0 rg BT 157.79 302.15 Td (ealty) Tj ET Q q 0 0 0 rg BT 178.03 302.15 Td (\)\) be) Tj ET Q q 0 0 0 rg BT 200.71 302.15 Td (tw) Tj ET Q q 0 0 0 rg BT 211.12 302.15 Td (een the Compan) Tj ET Q q 0 0 0 rg BT 278.14 302.15 Td (y) Tj ET Q q 0 0 0 rg BT 281.95 302.15 Td (, Main and Main De) Tj ET Q q 0 0 0 rg BT 361.64 302.15 Td (v) Tj ET Q q 0 0 0 rg BT 366.06 302.15 Td (elopmen) Tj ET Q q 0 0 0 rg BT 401.98 302.15 Td (ts \(itself a join) Tj ET Q q 0 0 0 rg BT 458.85 302.15 Td (t v) Tj ET Q q 0 0 0 rg BT 468.88 302.15 Td (en) Tj ET Q q 0 0 0 rg BT 479.01 302.15 Td (tur) Tj ET Q q 0 0 0 rg BT 490.97 302.15 Td (e be) Tj ET Q q 0 0 0 rg BT 508.38 302.15 Td (tw) Tj ET Q q 0 0 0 rg BT 518.79 302.15 Td (een the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 290.15 Td (Compan) Tj ET Q q 0 0 0 rg BT 87.71 290.15 Td (y and a priv) Tj ET Q q 0 0 0 rg BT 134.51 290.15 Td (a) Tj ET Q q 0 0 0 rg BT 139.21 290.15 Td (t) Tj ET Q q 0 0 0 rg BT 142.45 290.15 Td (e de) Tj ET Q q 0 0 0 rg BT 159.86 290.15 Td (v) Tj ET Q q 0 0 0 rg BT 164.28 290.15 Td (eloper\) and a pr) Tj ET Q q 0 0 0 rg BT 229.02 290.15 Td (ominen) Tj ET Q q 0 0 0 rg BT 259.97 290.15 Td (t Canadian ins) Tj ET Q q 0 0 0 rg BT 316.95 290.15 Td (titutional in) Tj ET Q q 0 0 0 rg BT 364.10 290.15 Td (v) Tj ET Q q 0 0 0 rg BT 368.52 290.15 Td (es) Tj ET Q q 0 0 0 rg BT 377.29 290.15 Td (t) Tj ET Q q 0 0 0 rg BT 380.54 290.15 Td (or) Tj ET Q q 0 0 0 rg BT 388.30 290.15 Td (. The partner) Tj ET Q q 0 0 0 rg BT 440.87 290.15 Td (s of Main and Main Urban ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 278.15 Td (R) Tj ET Q q 0 0 0 rg BT 59.25 278.15 Td (ealty ha) Tj ET Q q 0 0 0 rg BT 91.33 278.15 Td (v) Tj ET Q q 0 0 0 rg BT 95.75 278.15 Td (e c) Tj ET Q q 0 0 0 rg BT 107.13 278.15 Td (ollectiv) Tj ET Q q 0 0 0 rg BT 136.26 278.15 Td (ely c) Tj ET Q q 0 0 0 rg BT 154.46 278.15 Td (ommit) Tj ET Q q 0 0 0 rg BT 181.22 278.15 Td (t) Tj ET Q q 0 0 0 rg BT 184.46 278.15 Td (ed a t) Tj ET Q q 0 0 0 rg BT 207.25 278.15 Td (ot) Tj ET Q q 0 0 0 rg BT 215.75 278.15 Td (al of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 235.68 278.15 Td ($320.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 293.51 278.15 Td ( of equity c) Tj ET Q q 0 0 0 rg BT 338.41 278.15 Td (apit) Tj ET Q q 0 0 0 rg BT 353.98 278.15 Td (al f) Tj ET Q q 0 0 0 rg BT 366.17 278.15 Td (or the curr) Tj ET Q q 0 0 0 rg BT 409.35 278.15 Td (en) Tj ET Q q 0 0 0 rg BT 419.49 278.15 Td (t and futur) Tj ET Q q 0 0 0 rg BT 462.92 278.15 Td (e gr) Tj ET Q q 0 0 0 rg BT 478.19 278.15 Td (o) Tj ET Q q 0 0 0 rg BT 483.42 278.15 Td (w) Tj ET Q q 0 0 0 rg BT 490.59 278.15 Td (th and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 266.15 Td (de) Tj ET Q q 0 0 0 rg BT 64.18 266.15 Td (v) Tj ET Q q 0 0 0 rg BT 68.60 266.15 Td (elopmen) Tj ET Q q 0 0 0 rg BT 104.52 266.15 Td (t of the Main and Main Urban R) Tj ET Q q 0 0 0 rg BT 233.13 266.15 Td (ealty portf) Tj ET Q q 0 0 0 rg BT 275.53 266.15 Td (olio) Tj ET Q q 0 0 0 rg BT 290.49 266.15 Td (, of which Fir) Tj ET Q q 0 0 0 rg BT 342.48 266.15 Td (s) Tj ET Q q 0 0 0 rg BT 346.28 266.15 Td (t Capit) Tj ET Q q 0 0 0 rg BT 372.78 266.15 Td (al R) Tj ET Q q 0 0 0 rg BT 387.38 266.15 Td (ealty) Tj ET Q q 0 0 0 rg BT 407.62 266.15 Td () Tj ET Q q 0 0 0 rg BT 409.51 266.15 Td (s dir) Tj ET Q q 0 0 0 rg BT 426.58 266.15 Td (ect and indir) Tj ET Q q 0 0 0 rg BT 477.41 266.15 Td (ect c) Tj ET Q q 0 0 0 rg BT 496.37 266.15 Td (ommitmen) Tj ET Q q 0 0 0 rg BT 541.39 266.15 Td (t is ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 254.15 Td (appr) Tj ET Q q 0 0 0 rg BT 72.62 254.15 Td (o) Tj ET Q q 0 0 0 rg BT 77.70 254.15 Td (xima) Tj ET Q q 0 0 0 rg BT 97.01 254.15 Td (t) Tj ET Q q 0 0 0 rg BT 100.25 254.15 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 114.31 254.15 Td ($167.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 172.13 254.15 Td ( \(of which ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 214.45 254.15 Td ($126.6 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 272.28 254.15 Td ( has been in) Tj ET Q q 0 0 0 rg BT 320.86 254.15 Td (v) Tj ET Q q 0 0 0 rg BT 325.27 254.15 Td (es) Tj ET Q q 0 0 0 rg BT 334.05 254.15 Td (t) Tj ET Q q 0 0 0 rg BT 337.29 254.15 Td (ed as a) Tj ET Q q 0 0 0 rg BT 365.44 254.15 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 371.05 254.15 Td (Mar) Tj ET Q q 0 0 0 rg BT 387.73 254.15 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.64 254.15 Td (\). Decisions in Main and Main ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 242.15 Td (Urban R) Tj ET Q q 0 0 0 rg BT 86.71 242.15 Td (ealty ar) Tj ET Q q 0 0 0 rg BT 117.06 242.15 Td (e made unanimously as be) Tj ET Q q 0 0 0 rg BT 225.05 242.15 Td (tw) Tj ET Q q 0 0 0 rg BT 235.46 242.15 Td (een Main and Main De) Tj ET Q q 0 0 0 rg BT 327.87 242.15 Td (v) Tj ET Q q 0 0 0 rg BT 332.29 242.15 Td (elopmen) Tj ET Q q 0 0 0 rg BT 368.21 242.15 Td (ts and Fir) Tj ET Q q 0 0 0 rg BT 405.49 242.15 Td (s) Tj ET Q q 0 0 0 rg BT 409.29 242.15 Td (t Capit) Tj ET Q q 0 0 0 rg BT 435.80 242.15 Td (al R) Tj ET Q q 0 0 0 rg BT 450.40 242.15 Td (ealty t) Tj ET Q q 0 0 0 rg BT 475.85 242.15 Td (og) Tj ET Q q 0 0 0 rg BT 485.75 242.15 Td (e) Tj ET Q q 0 0 0 rg BT 490.67 242.15 Td (ther on the one ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 230.15 Td (hand, and the ins) Tj ET Q q 0 0 0 rg BT 124.05 230.15 Td (titutional in) Tj ET Q q 0 0 0 rg BT 171.20 230.15 Td (v) Tj ET Q q 0 0 0 rg BT 175.62 230.15 Td (es) Tj ET Q q 0 0 0 rg BT 184.40 230.15 Td (t) Tj ET Q q 0 0 0 rg BT 187.65 230.15 Td (or on the other hand. Main and Main De) Tj ET Q q 0 0 0 rg BT 352.17 230.15 Td (v) Tj ET Q q 0 0 0 rg BT 356.59 230.15 Td (elopmen) Tj ET Q q 0 0 0 rg BT 392.51 230.15 Td (ts pr) Tj ET Q q 0 0 0 rg BT 410.61 230.15 Td (o) Tj ET Q q 0 0 0 rg BT 415.84 230.15 Td (vides asse) Tj ET Q q 0 0 0 rg BT 456.59 230.15 Td (t and pr) Tj ET Q q 0 0 0 rg BT 488.34 230.15 Td (operty ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 218.15 Td (manag) Tj ET Q q 0 0 0 rg BT 81.45 218.15 Td (emen) Tj ET Q q 0 0 0 rg BT 104.55 218.15 Td (t ser) Tj ET Q q 0 0 0 rg BT 122.62 218.15 Td (vices f) Tj ET Q q 0 0 0 rg BT 147.65 218.15 Td (or Main and Main Urban R) Tj ET Q q 0 0 0 rg BT 255.25 218.15 Td (ealty) Tj ET Q q 0 0 0 rg BT 275.48 218.15 Td () Tj ET Q q 0 0 0 rg BT 277.37 218.15 Td (s pr) Tj ET Q q 0 0 0 rg BT 292.12 218.15 Td (operty portf) Tj ET Q q 0 0 0 rg BT 341.45 218.15 Td (olio. The Compan) Tj ET Q q 0 0 0 rg BT 412.44 218.15 Td (y) Tj ET Q q 0 0 0 rg BT 417.27 218.15 Td () Tj ET Q q 0 0 0 rg BT 419.16 218.15 Td (s 2014 Annual R) Tj ET Q q 0 0 0 rg BT 484.01 218.15 Td (eport c) Tj ET Q q 0 0 0 rg BT 512.75 218.15 Td (on) Tj ET Q q 0 0 0 rg BT 523.19 218.15 Td (t) Tj ET Q q 0 0 0 rg BT 526.42 218.15 Td (ains a ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 206.15 Td (chart tha) Tj ET Q q 0 0 0 rg BT 90.67 206.15 Td (t illus) Tj ET Q q 0 0 0 rg BT 112.22 206.15 Td (tr) Tj ET Q q 0 0 0 rg BT 118.85 206.15 Td (a) Tj ET Q q 0 0 0 rg BT 123.55 206.15 Td (t) Tj ET Q q 0 0 0 rg BT 126.79 206.15 Td (es, in a simplified f) Tj ET Q q 0 0 0 rg BT 202.01 206.15 Td (orm, the o) Tj ET Q q 0 0 0 rg BT 244.59 206.15 Td (wner) Tj ET Q q 0 0 0 rg BT 265.28 206.15 Td (ship of Main and Main De) Tj ET Q q 0 0 0 rg BT 369.78 206.15 Td (v) Tj ET Q q 0 0 0 rg BT 374.20 206.15 Td (elopmen) Tj ET Q q 0 0 0 rg BT 410.12 206.15 Td (ts and Main and Main Urban R) Tj ET Q q 0 0 0 rg BT 533.77 206.15 Td (ealty) Tj ET Q q 0 0 0 rg BT 553.05 206.15 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 188.15 Td (The Main and Main De) Tj ET Q q 0 0 0 rg BT 146.30 188.15 Td (v) Tj ET Q q 0 0 0 rg BT 150.72 188.15 Td (elopmen) Tj ET Q q 0 0 0 rg BT 186.64 188.15 Td (ts manag) Tj ET Q q 0 0 0 rg BT 223.61 188.15 Td (emen) Tj ET Q q 0 0 0 rg BT 246.71 188.15 Td (t t) Tj ET Q q 0 0 0 rg BT 255.56 188.15 Td (eam brings a skill se) Tj ET Q q 0 0 0 rg BT 336.23 188.15 Td (t and f) Tj ET Q q 0 0 0 rg BT 362.24 188.15 Td (ocus t) Tj ET Q q 0 0 0 rg BT 386.42 188.15 Td (o the assembly and r) Tj ET Q q 0 0 0 rg BT 470.62 188.15 Td (ede) Tj ET Q q 0 0 0 rg BT 485.78 188.15 Td (v) Tj ET Q q 0 0 0 rg BT 490.20 188.15 Td (elopmen) Tj ET Q q 0 0 0 rg BT 526.12 188.15 Td (t of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 176.15 Td (sit) Tj ET Q q 0 0 0 rg BT 63.45 176.15 Td (es tha) Tj ET Q q 0 0 0 rg BT 87.90 176.15 Td (t ar) Tj ET Q q 0 0 0 rg BT 101.65 176.15 Td (e smaller than the Compan) Tj ET Q q 0 0 0 rg BT 211.34 176.15 Td (y) Tj ET Q q 0 0 0 rg BT 216.17 176.15 Td () Tj ET Q q 0 0 0 rg BT 218.06 176.15 Td (s typic) Tj ET Q q 0 0 0 rg BT 243.80 176.15 Td (al pr) Tj ET Q q 0 0 0 rg BT 261.72 176.15 Td (operties and ar) Tj ET Q q 0 0 0 rg BT 323.21 176.15 Td (e normally acquir) Tj ET Q q 0 0 0 rg BT 393.79 176.15 Td (ed or assembled via multiple adjacen) Tj ET Q q 0 0 0 rg BT 544.34 176.15 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 164.15 Td (land par) Tj ET Q q 0 0 0 rg BT 87.24 164.15 Td (cel acquisitions. Main and Main De) Tj ET Q q 0 0 0 rg BT 228.83 164.15 Td (v) Tj ET Q q 0 0 0 rg BT 233.25 164.15 Td (elopmen) Tj ET Q q 0 0 0 rg BT 269.17 164.15 Td (ts c) Tj ET Q q 0 0 0 rg BT 285.33 164.15 Td (or) Tj ET Q q 0 0 0 rg BT 293.96 164.15 Td (e business s) Tj ET Q q 0 0 0 rg BT 342.02 164.15 Td (tr) Tj ET Q q 0 0 0 rg BT 348.65 164.15 Td (a) Tj ET Q q 0 0 0 rg BT 353.35 164.15 Td (t) Tj ET Q q 0 0 0 rg BT 356.59 164.15 Td (egy is t) Tj ET Q q 0 0 0 rg BT 384.78 164.15 Td (o cr) Tj ET Q q 0 0 0 rg BT 399.90 164.15 Td (ea) Tj ET Q q 0 0 0 rg BT 409.57 164.15 Td (t) Tj ET Q q 0 0 0 rg BT 412.81 164.15 Td (e v) Tj ET Q q 0 0 0 rg BT 424.42 164.15 Td (alue in the Main and Main ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 152.15 Td (Urban R) Tj ET Q q 0 0 0 rg BT 86.71 152.15 Td (ealty portf) Tj ET Q q 0 0 0 rg BT 129.12 152.15 Td (olio thr) Tj ET Q q 0 0 0 rg BT 158.44 152.15 Td (ough the s) Tj ET Q q 0 0 0 rg BT 200.83 152.15 Td (tr) Tj ET Q q 0 0 0 rg BT 207.46 152.15 Td (a) Tj ET Q q 0 0 0 rg BT 212.16 152.15 Td (t) Tj ET Q q 0 0 0 rg BT 215.40 152.15 Td (egic acquisition of asse) Tj ET Q q 0 0 0 rg BT 308.45 152.15 Td (ts in under) Tj ET Q q 0 0 0 rg BT 351.71 152.15 Td (-ser) Tj ET Q q 0 0 0 rg BT 367.24 152.15 Td (viced tr) Tj ET Q q 0 0 0 rg BT 397.40 152.15 Td (ansit) Tj ET Q q 0 0 0 rg BT 416.69 152.15 Td (-orien) Tj ET Q q 0 0 0 rg BT 440.94 152.15 Td (t) Tj ET Q q 0 0 0 rg BT 444.19 152.15 Td (ed urban r) Tj ET Q q 0 0 0 rg BT 486.33 152.15 Td (e) Tj ET Q q 0 0 0 rg BT 491.25 152.15 Td (t) Tj ET Q q 0 0 0 rg BT 494.48 152.15 Td (ail nodes and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 140.15 Td (then r) Tj ET Q q 0 0 0 rg BT 78.45 140.15 Td (eposition, r) Tj ET Q q 0 0 0 rg BT 124.44 140.15 Td (e) Tj ET Q q 0 0 0 rg BT 129.32 140.15 Td (z) Tj ET Q q 0 0 0 rg BT 133.05 140.15 Td (one and/) Tj ET Q q 0 0 0 rg BT 169.80 140.15 Td (or r) Tj ET Q q 0 0 0 rg BT 184.18 140.15 Td (ede) Tj ET Q q 0 0 0 rg BT 199.33 140.15 Td (v) Tj ET Q q 0 0 0 rg BT 203.75 140.15 Td (elop \(including thr) Tj ET Q q 0 0 0 rg BT 277.87 140.15 Td (ough mix) Tj ET Q q 0 0 0 rg BT 314.97 140.15 Td (ed use de) Tj ET Q q 0 0 0 rg BT 354.04 140.15 Td (v) Tj ET Q q 0 0 0 rg BT 358.46 140.15 Td (elopmen) Tj ET Q q 0 0 0 rg BT 394.38 140.15 Td (t\) these asse) Tj ET Q q 0 0 0 rg BT 445.28 140.15 Td (ts t) Tj ET Q q 0 0 0 rg BT 458.06 140.15 Td (o their highes) Tj ET Q q 0 0 0 rg BT 513.50 140.15 Td (t and bes) Tj ET Q q 0 0 0 rg BT 550.69 140.15 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 128.15 Td (use, with a vie) Tj ET Q q 0 0 0 rg BT 111.99 128.15 Td (w t) Tj ET Q q 0 0 0 rg BT 124.65 128.15 Td (o cr) Tj ET Q q 0 0 0 rg BT 139.77 128.15 Td (ea) Tj ET Q q 0 0 0 rg BT 149.44 128.15 Td (ting and o) Tj ET Q q 0 0 0 rg BT 190.10 128.15 Td (wning ne) Tj ET Q q 0 0 0 rg BT 227.20 128.15 Td (w urban r) Tj ET Q q 0 0 0 rg BT 266.27 128.15 Td (e) Tj ET Q q 0 0 0 rg BT 271.19 128.15 Td (t) Tj ET Q q 0 0 0 rg BT 274.42 128.15 Td (ail f) Tj ET Q q 0 0 0 rg BT 288.90 128.15 Td (orma) Tj ET Q q 0 0 0 rg BT 310.34 128.15 Td (ts in high-demand loc) Tj ET Q q 0 0 0 rg BT 397.74 128.15 Td (a) Tj ET Q q 0 0 0 rg BT 402.43 128.15 Td (tions. E) Tj ET Q q 0 0 0 rg BT 432.02 128.15 Td (ach of Main and Main Urban ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 116.15 Td (R) Tj ET Q q 0 0 0 rg BT 59.25 116.15 Td (ealty) Tj ET Q q 0 0 0 rg BT 79.49 116.15 Td () Tj ET Q q 0 0 0 rg BT 81.38 116.15 Td (s ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 87.55 116.15 Td (22) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 97.69 116.15 Td ( assembly pr) Tj ET Q q 0 0 0 rg BT 148.44 116.15 Td (ojects ar) Tj ET Q q 0 0 0 rg BT 182.97 116.15 Td (e loc) Tj ET Q q 0 0 0 rg BT 201.92 116.15 Td (a) Tj ET Q q 0 0 0 rg BT 206.62 116.15 Td (t) Tj ET Q q 0 0 0 rg BT 209.86 116.15 Td (ed on a major s) Tj ET Q q 0 0 0 rg BT 272.18 116.15 Td (tr) Tj ET Q q 0 0 0 rg BT 278.89 116.15 Td (ee) Tj ET Q q 0 0 0 rg BT 288.79 116.15 Td (t in T) Tj ET Q q 0 0 0 rg BT 308.19 116.15 Td (or) Tj ET Q q 0 0 0 rg BT 316.79 116.15 Td (on) Tj ET Q q 0 0 0 rg BT 327.22 116.15 Td (t) Tj ET Q q 0 0 0 rg BT 330.47 116.15 Td (o or Ot) Tj ET Q q 0 0 0 rg BT 358.86 116.15 Td (t) Tj ET Q q 0 0 0 rg BT 362.09 116.15 Td (a) Tj ET Q q 0 0 0 rg BT 366.81 116.15 Td (w) Tj ET Q q 0 0 0 rg BT 373.84 116.15 Td (a. One pr) Tj ET Q q 0 0 0 rg BT 411.11 116.15 Td (oject in Ot) Tj ET Q q 0 0 0 rg BT 453.23 116.15 Td (t) Tj ET Q q 0 0 0 rg BT 456.46 116.15 Td (a) Tj ET Q q 0 0 0 rg BT 461.18 116.15 Td (w) Tj ET Q q 0 0 0 rg BT 468.21 116.15 Td (a is in the e) Tj ET Q q 0 0 0 rg BT 514.21 116.15 Td (x) Tj ET Q q 0 0 0 rg BT 518.31 116.15 Td (c) Tj ET Q q 0 0 0 rg BT 522.46 116.15 Td (a) Tj ET Q q 0 0 0 rg BT 527.08 116.15 Td (v) Tj ET Q q 0 0 0 rg BT 531.45 116.15 Td (a) Tj ET Q q 0 0 0 rg BT 536.15 116.15 Td (tion ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 104.15 Td (phase of c) Tj ET Q q 0 0 0 rg BT 95.18 104.15 Td (ons) Tj ET Q q 0 0 0 rg BT 109.50 104.15 Td (truction and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 161.81 104.15 Td (tw) Tj ET Q q 0 0 0 rg BT 172.22 104.15 Td (o) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 177.49 104.15 Td ( pr) Tj ET Q q 0 0 0 rg BT 188.33 104.15 Td (ojects in T) Tj ET Q q 0 0 0 rg BT 228.52 104.15 Td (or) Tj ET Q q 0 0 0 rg BT 237.12 104.15 Td (on) Tj ET Q q 0 0 0 rg BT 247.55 104.15 Td (t) Tj ET Q q 0 0 0 rg BT 250.80 104.15 Td (o ar) Tj ET Q q 0 0 0 rg BT 266.48 104.15 Td (e in the pr) Tj ET Q q 0 0 0 rg BT 307.97 104.15 Td (e-de) Tj ET Q q 0 0 0 rg BT 326.19 104.15 Td (v) Tj ET Q q 0 0 0 rg BT 330.61 104.15 Td (elopmen) Tj ET Q q 0 0 0 rg BT 366.53 104.15 Td (t planning s) Tj ET Q q 0 0 0 rg BT 413.31 104.15 Td (t) Tj ET Q q 0 0 0 rg BT 416.53 104.15 Td (ag) Tj ET Q q 0 0 0 rg BT 425.95 104.15 Td (e. As a) Tj ET Q q 0 0 0 rg BT 452.36 104.15 Td (t ) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 457.97 104.15 Td (Mar) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 474.65 104.15 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 521.56 104.15 Td (, the f) Tj ET Q q 0 0 0 rg BT 545.02 104.15 Td (air ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 92.15 Td (v) Tj ET Q q 0 0 0 rg BT 58.37 92.15 Td (alue of the Main and Main Urban R) Tj ET Q q 0 0 0 rg BT 200.94 92.15 Td (ealty) Tj ET Q q 0 0 0 rg BT 221.18 92.15 Td () Tj ET Q q 0 0 0 rg BT 223.07 92.15 Td (s portf) Tj ET Q q 0 0 0 rg BT 249.44 92.15 Td (olio w) Tj ET Q q 0 0 0 rg BT 273.88 92.15 Td (as appr) Tj ET Q q 0 0 0 rg BT 303.46 92.15 Td (o) Tj ET Q q 0 0 0 rg BT 308.54 92.15 Td (xima) Tj ET Q q 0 0 0 rg BT 327.85 92.15 Td (t) Tj ET Q q 0 0 0 rg BT 331.09 92.15 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 345.15 92.15 Td ($239.8 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 402.97 92.15 Td (. ) Tj ET Q endstream endobj 57 0 obj <> endobj 58 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (27) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F2 11.00 Tf ET q 0 0 0 rg BT 54.00 693.75 Td (R) Tj ET Q q 0 0 0 rg BT 60.03 693.75 Td (esiden) Tj ET Q q 0 0 0 rg BT 89.90 693.75 Td (tial De) Tj ET Q q 0 0 0 rg BT 119.45 693.75 Td (v) Tj ET Q q 0 0 0 rg BT 124.55 693.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 164.90 693.75 Td (t In) Tj ET Q q 0 0 0 rg BT 179.88 693.75 Td (v) Tj ET Q q 0 0 0 rg BT 184.98 693.75 Td (en) Tj ET Q q 0 0 0 rg BT 196.32 693.75 Td (t) Tj ET Q q 0 0 0 rg BT 200.02 693.75 Td (or) Tj ET Q q 0 0 0 rg BT 209.90 693.75 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 675.75 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 675.75 Td (y's only r) Tj ET Q q 0 0 0 rg BT 140.94 675.75 Td (esiden) Tj ET Q q 0 0 0 rg BT 167.51 675.75 Td (tial de) Tj ET Q q 0 0 0 rg BT 192.68 675.75 Td (v) Tj ET Q q 0 0 0 rg BT 197.10 675.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 233.02 675.75 Td (t in) Tj ET Q q 0 0 0 rg BT 246.02 675.75 Td (v) Tj ET Q q 0 0 0 rg BT 250.44 675.75 Td (en) Tj ET Q q 0 0 0 rg BT 260.57 675.75 Td (t) Tj ET Q q 0 0 0 rg BT 263.82 675.75 Td (or) Tj ET Q q 0 0 0 rg BT 272.63 675.75 Td (y as a) Tj ET Q q 0 0 0 rg BT 295.08 675.75 Td (t Mar) Tj ET Q q 0 0 0 rg BT 317.37 675.75 Td (ch 31, 2015 is a) Tj ET Q q 0 0 0 rg BT 379.70 675.75 Td (t the 1071 King Str) Tj ET Q q 0 0 0 rg BT 454.70 675.75 Td (ee) Tj ET Q q 0 0 0 rg BT 464.60 675.75 Td (t de) Tj ET Q q 0 0 0 rg BT 480.39 675.75 Td (v) Tj ET Q q 0 0 0 rg BT 484.81 675.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 520.73 675.75 Td (t sit) Tj ET Q q 0 0 0 rg BT 535.79 675.75 Td (e, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 663.75 Td (which has 100,000 squar) Tj ET Q q 0 0 0 rg BT 154.39 663.75 Td (e f) Tj ET Q q 0 0 0 rg BT 164.42 663.75 Td (ee) Tj ET Q q 0 0 0 rg BT 174.32 663.75 Td (t of density en) Tj ET Q q 0 0 0 rg BT 232.48 663.75 Td (titlemen) Tj ET Q q 0 0 0 rg BT 266.87 663.75 Td (ts. The Compan) Tj ET Q q 0 0 0 rg BT 329.99 663.75 Td (y has a ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 360.04 663.75 Td (50%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 377.33 663.75 Td ( in) Tj ET Q q 0 0 0 rg BT 387.04 663.75 Td (t) Tj ET Q q 0 0 0 rg BT 390.28 663.75 Td (er) Tj ET Q q 0 0 0 rg BT 398.61 663.75 Td (es) Tj ET Q q 0 0 0 rg BT 407.39 663.75 Td (t in the pr) Tj ET Q q 0 0 0 rg BT 447.23 663.75 Td (oject and r) Tj ET Q q 0 0 0 rg BT 490.62 663.75 Td (ec) Tj ET Q q 0 0 0 rg BT 499.74 663.75 Td (ogniz) Tj ET Q q 0 0 0 rg BT 521.00 663.75 Td (es its ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 651.75 Td (righ) Tj ET Q q 0 0 0 rg BT 69.65 651.75 Td (t t) Tj ET Q q 0 0 0 rg BT 78.51 651.75 Td (o the asse) Tj ET Q q 0 0 0 rg BT 119.42 651.75 Td (ts and oblig) Tj ET Q q 0 0 0 rg BT 166.14 651.75 Td (a) Tj ET Q q 0 0 0 rg BT 170.84 651.75 Td (tions f) Tj ET Q q 0 0 0 rg BT 196.02 651.75 Td (or liabilities in its financial r) Tj ET Q q 0 0 0 rg BT 306.85 651.75 Td (esults. ) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 629.55 Td (Capit) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 77.56 629.55 Td (al Expenditur) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 138.05 629.55 Td (es on In) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 173.45 629.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 178.55 629.55 Td (es) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 188.35 629.55 Td (tmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 212.45 629.55 Td (t Pr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 228.38 629.55 Td (operties) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 611.55 Td (Capit) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 74.90 611.55 Td (al e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 89.07 611.55 Td (xpenditur) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 128.39 611.55 Td (es ar) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 147.68 611.55 Td (e incurr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 178.79 611.55 Td (ed b) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 196.49 611.55 Td (y the Compan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 252.82 611.55 Td (y f) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 262.45 611.55 Td (or main) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 293.70 611.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 296.93 611.55 Td (aining and/) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 342.77 611.55 Td (or r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 357.15 611.55 Td (eno) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 372.61 611.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 376.98 611.55 Td (a) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 381.68 611.55 Td (ting its e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 416.18 611.55 Td (xis) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 426.61 611.55 Td (ting shopping cen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 498.30 611.55 Td (tr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 505.01 611.55 Td (es. In ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 599.55 Td (addition, the Compan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 142.07 599.55 Td (y also incur) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 187.73 599.55 Td (s e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 198.73 599.55 Td (xpenditur) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 238.05 599.55 Td (es f) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 252.04 599.55 Td (or the purposes of e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 333.89 599.55 Td (xpansion, r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 378.36 599.55 Td (ede) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 393.52 599.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 397.94 599.55 Td (elopmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 433.86 599.55 Td (t and de) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 467.21 599.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 471.63 599.55 Td (elopmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 507.55 599.55 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 587.55 Td (activities.) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 569.55 Td (R) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 59.25 569.55 Td (e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 64.18 569.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 68.60 569.55 Td (enue sus) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 104.28 569.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 107.51 569.55 Td (aining c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 138.51 569.55 Td (apit) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 154.08 569.55 Td (al e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 168.25 569.55 Td (xpenditur) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 207.57 569.55 Td (es ar) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 226.86 569.55 Td (e r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 237.45 569.55 Td (equir) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 258.58 569.55 Td (ed f) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 273.92 569.55 Td (or main) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 305.17 569.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 308.40 569.55 Td (aining the Compan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 384.80 569.55 Td (y) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 389.63 569.55 Td () Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 391.51 569.55 Td (s shopping cen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 451.51 569.55 Td (tr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 458.22 569.55 Td (e in) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 472.95 569.55 Td (fr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 479.28 569.55 Td (as) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 487.87 569.55 Td (tructur) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 516.14 569.55 Td (e and ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 557.55 Td (r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 57.35 557.55 Td (e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 62.28 557.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 66.70 557.55 Td (enues fr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 99.71 557.55 Td (om leasing of e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 161.13 557.55 Td (xis) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 171.55 557.55 Td (ting space. R) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 222.62 557.55 Td (e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 227.54 557.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 231.96 557.55 Td (enue sus) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 267.65 557.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 270.88 557.55 Td (aining c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 301.88 557.55 Td (apit) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 317.44 557.55 Td (al e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 331.61 557.55 Td (xpenditur) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 370.93 557.55 Td (es ar) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 390.23 557.55 Td (e not r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 416.95 557.55 Td (ec) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 426.08 557.55 Td (o) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 431.30 557.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 435.72 557.55 Td (er) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 443.98 557.55 Td (able fr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 469.93 557.55 Td (om t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 488.70 557.55 Td (enan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 508.88 557.55 Td (ts. T) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 525.34 557.55 Td (ypic) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 541.56 557.55 Td (al ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 545.55 Td (c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 58.15 545.55 Td (os) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 67.22 545.55 Td (ts r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 80.09 545.55 Td (ela) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 92.06 545.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 95.30 545.55 Td (e t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 105.79 545.55 Td (o ong) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 128.49 545.55 Td (oing in) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 155.67 545.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 160.08 545.55 Td (es) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 168.86 545.55 Td (tmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 190.33 545.55 Td (ts of c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 214.59 545.55 Td (apit) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 230.15 545.55 Td (al f) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 242.34 545.55 Td (or t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 256.60 545.55 Td (enan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 276.78 545.55 Td (t leasing c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 317.03 545.55 Td (os) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 326.10 545.55 Td (ts and/) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 354.61 545.55 Td (or t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 368.87 545.55 Td (enan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 389.05 545.55 Td (t inducemen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 440.05 545.55 Td (ts r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 452.93 545.55 Td (ela) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 464.89 545.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 468.14 545.55 Td (ed t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 483.88 545.55 Td (o ne) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 501.59 545.55 Td (w and ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 533.55 Td (r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 57.35 533.55 Td (ene) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 72.51 533.55 Td (w) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 79.55 533.55 Td (al leasing) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 117.23 533.55 Td (, and c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 143.69 533.55 Td (apit) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 159.26 533.55 Td (al t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 171.86 533.55 Td (o main) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 199.63 533.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 202.85 533.55 Td (ain the ph) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 243.61 533.55 Td (y) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 248.05 533.55 Td (sic) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 258.40 533.55 Td (al aspects of its shopping cen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 376.66 533.55 Td (tr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 383.36 533.55 Td (es such as r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 429.70 533.55 Td (oof r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 448.92 533.55 Td (eplacemen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 493.56 533.55 Td (t pr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 507.75 533.55 Td (ogr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 521.01 533.55 Td (ams ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 521.55 Td (and r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 74.91 521.55 Td (esurf) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 95.40 521.55 Td (acing of parking lots. ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 503.55 Td (R) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 59.25 503.55 Td (e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 64.18 503.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 68.60 503.55 Td (enue enhancing c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 139.74 503.55 Td (apit) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 155.30 503.55 Td (al e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 169.47 503.55 Td (xpenditur) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 208.79 503.55 Td (es ar) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 228.09 503.55 Td (e those e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 265.17 503.55 Td (xpenditur) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 304.49 503.55 Td (es tha) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 328.94 503.55 Td (t incr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 349.68 503.55 Td (ease the r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 389.79 503.55 Td (e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 394.72 503.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 399.14 503.55 Td (enue g) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 426.48 503.55 Td (ener) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 444.97 503.55 Td (a) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 449.66 503.55 Td (ting ability of the ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 491.55 Td (Compan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 87.71 491.55 Td (y) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 92.54 491.55 Td () Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 94.42 491.55 Td (s shopping cen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 154.42 491.55 Td (tr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 161.12 491.55 Td (es. R) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 180.05 491.55 Td (e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 184.98 491.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 189.40 491.55 Td (enue enhancing c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 260.53 491.55 Td (apit) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 276.10 491.55 Td (al e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 290.27 491.55 Td (xpenditur) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 329.59 491.55 Td (es ar) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 348.88 491.55 Td (e incurr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 379.99 491.55 Td (ed in c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 406.44 491.55 Td (onjunction with or in ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 479.55 Td (c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 58.15 479.55 Td (on) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 68.58 479.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 71.82 479.55 Td (empla) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 97.03 479.55 Td (tion of a de) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 143.28 479.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 147.70 479.55 Td (elopmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 183.62 479.55 Td (t or r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 203.61 479.55 Td (ede) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 218.77 479.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 223.18 479.55 Td (elopmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 259.11 479.55 Td (t s) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 268.52 479.55 Td (tr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 275.15 479.55 Td (a) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 279.84 479.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 283.09 479.55 Td (egy) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 296.58 479.55 Td (, or r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 315.71 479.55 Td (ela) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 327.68 479.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 330.92 479.55 Td (ed t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 346.67 479.55 Td (o acquisition, disposition or the Same Pr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 509.74 479.55 Td (operty ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 467.55 Td (c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 58.15 467.55 Td (a) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 62.84 467.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 66.08 467.55 Td (eg) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 75.70 467.55 Td (ories. Capit) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 121.32 467.55 Td (al e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 135.49 467.55 Td (xpenditur) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 174.82 467.55 Td (es incurr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 209.83 467.55 Td (ed in de) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 242.32 467.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 246.73 467.55 Td (elopmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 282.66 467.55 Td (t and r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 309.18 467.55 Td (ede) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 324.34 467.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 328.76 467.55 Td (elopmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 364.68 467.55 Td (t pr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 378.87 467.55 Td (ojects include pr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 445.68 467.55 Td (e-de) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 463.90 467.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 468.32 467.55 Td (elopmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 504.24 467.55 Td (t c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 514.00 467.55 Td (os) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 523.07 467.55 Td (ts, ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 455.55 Td (dir) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 64.90 455.55 Td (ect c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 83.86 455.55 Td (ons) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 98.19 455.55 Td (truction c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 137.09 455.55 Td (os) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 146.16 455.55 Td (ts, leasing c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 192.81 455.55 Td (os) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 201.88 455.55 Td (ts, t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 217.14 455.55 Td (enan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 237.32 455.55 Td (t inducemen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 288.32 455.55 Td (ts, borr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 317.67 455.55 Td (o) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 322.91 455.55 Td (wing c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 348.72 455.55 Td (os) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 357.79 455.55 Td (ts, and o) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 392.59 455.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 397.01 455.55 Td (erhead including applic) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 491.14 455.55 Td (able salaries ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 443.55 Td (and other dir) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 107.06 443.55 Td (ect c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 126.02 443.55 Td (os) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 135.09 443.55 Td (ts of in) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 162.66 443.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 165.90 443.55 Td (ernal s) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 192.76 443.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 195.99 443.55 Td (a) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 200.72 443.55 Td (f) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 203.67 443.55 Td (f dir) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 219.89 443.55 Td (ectly a) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 246.22 443.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 249.43 443.55 Td (tribut) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 272.30 443.55 Td (able t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 295.12 443.55 Td (o the pr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 327.08 443.55 Td (ojects under activ) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 399.03 443.55 Td (e de) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 416.45 443.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 420.87 443.55 Td (elopmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 456.79 443.55 Td (t.) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 425.55 Td (Additionally) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 101.95 425.55 Td (, cert) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 122.63 425.55 Td (ain t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 140.47 425.55 Td (enan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 160.65 425.55 Td (t leases pr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 201.96 425.55 Td (o) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 207.19 425.55 Td (vide the ability t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 272.65 425.55 Td (o r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 283.54 425.55 Td (ec) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 292.66 425.55 Td (o) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 297.89 425.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 302.31 425.55 Td (er fr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 319.41 425.55 Td (om t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 338.17 425.55 Td (enan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 358.35 425.55 Td (ts o) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 373.10 425.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 377.52 425.55 Td (er time a portion of c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 463.34 425.55 Td (apit) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 478.91 425.55 Td (al in) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 495.64 425.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 500.05 425.55 Td (es) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 508.83 425.55 Td (tmen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 530.30 425.55 Td (ts t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 543.08 425.55 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 413.55 Td (main) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 74.23 413.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 77.46 413.55 Td (ain ph) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 102.38 413.55 Td (y) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 106.82 413.55 Td (sic) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 117.17 413.55 Td (al aspects of the Compan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 219.33 413.55 Td (y) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 224.16 413.55 Td () Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 226.04 413.55 Td (s shopping cen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 286.04 413.55 Td (tr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 292.75 413.55 Td (es as pr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 323.43 413.55 Td (operty oper) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 371.34 413.55 Td (a) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 376.04 413.55 Td (ting c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 398.05 413.55 Td (os) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 407.13 413.55 Td (ts.) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 395.55 Td (R) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 59.25 395.55 Td (e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 64.18 395.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 68.60 395.55 Td (enue enhancing or sus) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 159.58 395.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 162.80 395.55 Td (aining c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 193.80 395.55 Td (apit) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 209.37 395.55 Td (al e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 223.54 395.55 Td (xpenditur) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 262.86 395.55 Td (es ar) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 282.15 395.55 Td (e dependen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 330.49 395.55 Td (t upon man) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 377.25 395.55 Td (y f) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 386.89 395.55 Td (act) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 399.16 395.55 Td (or) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 407.75 395.55 Td (s, including the ag) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 480.77 395.55 Td (e and loc) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 517.28 395.55 Td (a) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 521.97 395.55 Td (tion of ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 383.55 Td (the Compan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 103.55 383.55 Td (y) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 108.38 383.55 Td () Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 110.26 383.55 Td (s shopping cen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 170.26 383.55 Td (tr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 176.96 383.55 Td (es. The Compan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 241.71 383.55 Td (y o) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 253.73 383.55 Td (wns and activ) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 308.94 383.55 Td (ely seek) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 341.31 383.55 Td (s t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 350.74 383.55 Td (o acquir) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 383.45 383.55 Td (e older) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 411.11 383.55 Td (, w) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 422.93 383.55 Td (ell-loc) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 447.27 383.55 Td (a) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 451.96 383.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 455.21 383.55 Td (ed shopping cen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 521.52 383.55 Td (tr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 528.23 383.55 Td (es in ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 371.55 Td (urban loc) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 92.01 371.55 Td (a) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 96.71 371.55 Td (tions, wher) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 142.28 371.55 Td (e e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 154.34 371.55 Td (xpenditur) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 193.66 371.55 Td (es t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 208.05 371.55 Td (end t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 229.05 371.55 Td (o be higher when the) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 315.71 371.55 Td (y ar) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 330.65 371.55 Td (e sub) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 352.25 371.55 Td (sequen) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 381.78 371.55 Td (tly r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 397.57 371.55 Td (epair) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 418.24 371.55 Td (ed or c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 445.89 371.55 Td (onditions br) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 494.89 371.55 Td (ough) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 515.29 371.55 Td (t up t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 536.92 371.55 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 359.55 Td (the Compan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 103.55 359.55 Td (y) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 108.38 359.55 Td () Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 110.26 359.55 Td (s s) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 120.23 359.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 123.46 359.55 Td (andar) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 146.90 359.55 Td (ds or r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 172.70 359.55 Td (ede) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 187.85 359.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 192.27 359.55 Td (eloped. ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 341.55 Td (In addition t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 103.31 341.55 Td (o pr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 119.42 341.55 Td (operty c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 152.70 341.55 Td (a) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 157.39 341.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 160.64 341.55 Td (eg) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 170.25 341.55 Td (or) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 179.06 341.55 Td (y) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 182.87 341.55 Td (, the Compan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 237.17 341.55 Td (y also c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 266.64 341.55 Td (onsider) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 296.92 341.55 Td (s pr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 311.67 341.55 Td (operty ag) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 350.21 341.55 Td (e, the pot) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 389.55 341.55 Td (en) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 399.68 341.55 Td (tial e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 419.56 341.55 Td (f) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 422.52 341.55 Td (f) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 425.32 341.55 Td (ects on occupancy and futur) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 539.95 341.55 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 329.55 Td (r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 57.35 329.55 Td (en) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 67.49 329.55 Td (t per squar) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 111.64 329.55 Td (e f) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 121.72 329.55 Td (oot, the time leasable space has been v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 281.35 329.55 Td (ac) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 290.29 329.55 Td (an) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 300.24 329.55 Td (t and other f) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 350.87 329.55 Td (act) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 363.14 329.55 Td (or) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 371.72 329.55 Td (s when assessing whe) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 460.04 329.55 Td (ther a c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 490.56 329.55 Td (apit) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 506.13 329.55 Td (al ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 317.55 Td (e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 58.82 317.55 Td (xpenditur) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 98.15 317.55 Td (e is r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 117.20 317.55 Td (e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 122.13 317.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 126.55 317.55 Td (enue enhancing or sus) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 217.53 317.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 220.75 317.55 Td (aining.) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 299.55 Td (The thr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 83.32 299.55 Td (ee-) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 96.24 299.55 Td (y) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 100.64 299.55 Td (ear w) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 123.21 299.55 Td (eigh) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 140.35 299.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 143.59 299.55 Td (ed a) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 160.71 299.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 165.13 299.55 Td (er) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 173.38 299.55 Td (ag) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 182.80 299.55 Td (e r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 193.32 299.55 Td (a) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 198.01 299.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 201.26 299.55 Td (e of r) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 222.43 299.55 Td (e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 227.36 299.55 Td (v) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 231.78 299.55 Td (enue sus) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 267.46 299.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 270.69 299.55 Td (aining e) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 302.37 299.55 Td (xpenditur) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 341.69 299.55 Td (es on a Same Pr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 405.78 299.55 Td (operty basis f) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 460.17 299.55 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 487.03 299.55 Td (thr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 498.99 299.55 Td (ee mon) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 529.62 299.55 Td (ths ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 287.55 Td (ended Mar) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 98.65 287.55 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 145.56 287.55 Td ( and 2014 w) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 194.95 287.55 Td (as on an es) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 239.78 287.55 Td (tima) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 258.11 287.55 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 261.35 287.55 Td (ed annualiz) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 307.50 287.55 Td (ed basis ) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 342.41 287.55 Td ($0.83) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 365.21 287.55 Td ( per squar) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 406.01 287.55 Td (e f) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 416.09 287.55 Td (oot. ) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 269.55 Td (R) Tj ET Q q 0 0 0 rg BT 59.25 269.55 Td (e) Tj ET Q q 0 0 0 rg BT 64.18 269.55 Td (v) Tj ET Q q 0 0 0 rg BT 68.60 269.55 Td (enue sus) Tj ET Q q 0 0 0 rg BT 104.28 269.55 Td (t) Tj ET Q q 0 0 0 rg BT 107.51 269.55 Td (aining and enhancing c) Tj ET Q q 0 0 0 rg BT 200.34 269.55 Td (apit) Tj ET Q q 0 0 0 rg BT 215.91 269.55 Td (al e) Tj ET Q q 0 0 0 rg BT 230.08 269.55 Td (xpenditur) Tj ET Q q 0 0 0 rg BT 269.40 269.55 Td (es on in) Tj ET Q q 0 0 0 rg BT 300.72 269.55 Td (v) Tj ET Q q 0 0 0 rg BT 305.14 269.55 Td (es) Tj ET Q q 0 0 0 rg BT 313.91 269.55 Td (tmen) Tj ET Q q 0 0 0 rg BT 335.39 269.55 Td (t pr) Tj ET Q q 0 0 0 rg BT 349.58 269.55 Td (operties, which include shopping cen) Tj ET Q q 0 0 0 rg BT 499.94 269.55 Td (tr) Tj ET Q q 0 0 0 rg BT 506.64 269.55 Td (es and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 257.55 Td (de) Tj ET Q q 0 0 0 rg BT 64.18 257.55 Td (v) Tj ET Q q 0 0 0 rg BT 68.60 257.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 104.52 257.55 Td (t land, ar) Tj ET Q q 0 0 0 rg BT 140.63 257.55 Td (e as f) Tj ET Q q 0 0 0 rg BT 161.67 257.55 Td (ollo) Tj ET Q q 0 0 0 rg BT 176.76 257.55 Td (w) Tj ET Q q 0 0 0 rg BT 183.82 257.55 Td (s:) Tj ET Q 0.21176470588235294 0.20392156862745098 0.20784313725490197 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 247.04999999999995 m 399.5 247.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 234.04999999999995 m 399.5 234.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 247.04999999999995 m 419.5 247.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399.5 234.04999999999995 m 419.5 234.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 247.04999999999995 m 474.5 247.04999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 234.04999999999995 m 474.5 234.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 247.04999999999995 m 494.5 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BT 538.30 621.50 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 607.75 Td (Revenue sustaining) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 187.00 607.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 216.50 607.75 Td (4,482) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 243.00 607.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 298.45 607.75 Td (178) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 318.00 607.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 346.55 607.75 Td (4,660) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 373.00 607.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 402.75 607.75 Td (1,746) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.00 607.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 484.55 607.75 Td (354) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 504.00 607.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.75 607.75 Td (2,100) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 594.75 Td (Revenue enhancing and other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 216.50 594.75 Td (7,568) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 298.45 594.75 Td (733) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 346.55 594.75 Td (8,301) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 402.75 594.75 Td (1,179) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 484.55 594.75 Td (474) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.75 594.75 Td (1,653) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 581.75 Td (Expenditures recoverable from) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 65.00 572.75 Td (tenants) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 216.50 581.75 Td (1,590) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.00 581.75 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 346.55 581.75 Td (1,590) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 402.75 581.75 Td (1,594) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 484.55 581.75 Td (633) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.75 581.75 Td (2,227) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 559.75 Td (Development expenditures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 229.00 559.75 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 291.55 559.75 Td (7,955) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 346.55 559.75 Td (7,955) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 415.10 559.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 477.75 559.75 Td (4,824) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.75 559.75 Td (4,824) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 546.75 Td (Total Same Property) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 187.00 546.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 212.00 546.75 Td (13,640) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 243.00 546.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 291.55 546.75 Td (8,866) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 318.00 546.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 342.00 546.75 Td (22,506) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 373.00 546.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 402.75 546.75 Td (4,519) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.00 546.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 477.75 546.75 Td (6,285) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 504.00 546.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.15 546.75 Td (10,804) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 533.75 Td (Major redevelopment) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 342.00 533.75 Td (23,830) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.15 533.75 Td (17,407) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 520.75 Td (Ground-up development) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 342.00 520.75 Td (19,829) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.75 520.75 Td (6,960) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 507.75 Td (Acquisitions current year) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 353.45 507.75 Td (138) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 540.55 507.75 Td (144) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 494.75 Td (Acquisitions prior year) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 353.45 494.75 Td (603) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.75 494.75 Td (1,134) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 481.75 Td (Investment properties classified) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 65.00 472.75 Td (as held for sale) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 358.00 481.75 Td (14) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.75 481.75 Td (1,343) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 459.75 Td (Dispositions current and prior) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 65.00 450.75 Td (year) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 358.00 459.75 Td (17) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.65 459.75 Td (3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 437.75 Td (Development land) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 359.00 437.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.75 437.75 Td (2,374) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 423.75 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 318.00 423.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 342.00 423.75 Td (66,937) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 504.00 423.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.15 423.75 Td (40,169) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 396.10 Td (Leasing and Occupancy) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 381.10 Td (T) Tj ET Q q 0 0 0 rg BT 57.98 381.10 Td (ot) Tj ET Q q 0 0 0 rg BT 66.49 381.10 Td (al portf) Tj ET Q q 0 0 0 rg BT 96.04 381.10 Td (olio occupancy as a) Tj ET Q q 0 0 0 rg BT 174.39 381.10 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 180.00 381.10 Td (Mar) Tj ET Q q 0 0 0 rg BT 196.68 381.10 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 243.59 381.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 245.85 381.10 Td (decr) Tj ET Q q 0 0 0 rg BT 263.66 381.10 Td (eased) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 287.57 381.10 Td ( t) Tj ET Q q 0 0 0 rg BT 293.08 381.10 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.62 381.10 Td (95.6%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 325.49 381.10 Td ( fr) Tj ET Q q 0 0 0 rg BT 334.13 381.10 Td (om ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 349.65 381.10 Td (96.0%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 374.53 381.10 Td ( as a) Tj ET Q q 0 0 0 rg BT 392.45 381.10 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 398.06 381.10 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 477.53 381.10 Td (. Same Pr) Tj ET Q q 0 0 0 rg BT 515.41 381.10 Td (operty ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 369.10 Td (portf) Tj ET Q q 0 0 0 rg BT 74.21 369.10 Td (olio occupancy ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 136.90 369.10 Td (decr) Tj ET Q q 0 0 0 rg BT 154.71 369.10 Td (eased) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.62 369.10 Td ( t) Tj ET Q q 0 0 0 rg BT 184.13 369.10 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 191.67 369.10 Td (96.4%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 216.54 369.10 Td ( fr) Tj ET Q q 0 0 0 rg BT 225.18 369.10 Td (om ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 240.70 369.10 Td (96.8%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 265.58 369.10 Td ( f) Tj ET Q q 0 0 0 rg BT 270.68 369.10 Td (or the same period, and c) Tj ET Q q 0 0 0 rg BT 374.47 369.10 Td (omprised ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.17 369.10 Td (19.9 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 462.85 369.10 Td ( occupied squar) Tj ET Q q 0 0 0 rg BT 526.70 369.10 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 357.10 Td (f) Tj ET Q q 0 0 0 rg BT 56.80 357.10 Td (ee) Tj ET Q q 0 0 0 rg BT 66.70 357.10 Td (t. Occupancy f) Tj ET Q q 0 0 0 rg BT 124.32 357.10 Td (or the r) Tj ET Q q 0 0 0 rg BT 154.54 357.10 Td (emainder of the portf) Tj ET Q q 0 0 0 rg BT 242.45 357.10 Td (olio) Tj ET Q q 0 0 0 rg BT 257.40 357.10 Td (, including major r) Tj ET Q q 0 0 0 rg BT 330.80 357.10 Td (ede) Tj ET Q q 0 0 0 rg BT 345.96 357.10 Td (v) Tj ET Q q 0 0 0 rg BT 350.38 357.10 Td (elopmen) Tj ET Q q 0 0 0 rg BT 386.30 357.10 Td (ts, gr) Tj ET Q q 0 0 0 rg BT 406.35 357.10 Td (ound-up de) Tj ET Q q 0 0 0 rg BT 453.39 357.10 Td (v) Tj ET Q q 0 0 0 rg BT 457.81 357.10 Td (elopmen) Tj ET Q q 0 0 0 rg BT 493.74 357.10 Td (ts, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 345.10 Td (acquisitions, dispositions and asse) Tj ET Q q 0 0 0 rg BT 192.50 345.10 Td (ts held f) Tj ET Q q 0 0 0 rg BT 224.90 345.10 Td (or sale, t) Tj ET Q q 0 0 0 rg BT 259.90 345.10 Td (ot) Tj ET Q q 0 0 0 rg BT 268.40 345.10 Td (aled ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 287.97 345.10 Td (91.0%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 312.85 345.10 Td ( as a) Tj ET Q q 0 0 0 rg BT 330.77 345.10 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 336.38 345.10 Td (Mar) Tj ET Q q 0 0 0 rg BT 353.06 345.10 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 399.97 345.10 Td (, r) Tj ET Q q 0 0 0 rg BT 408.08 345.10 Td (epr) Tj ET Q q 0 0 0 rg BT 421.67 345.10 Td (esen) Tj ET Q q 0 0 0 rg BT 440.69 345.10 Td (ting ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 458.56 345.10 Td (a decr) Tj ET Q q 0 0 0 rg BT 483.42 345.10 Td (ease) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 502.07 345.10 Td ( fr) Tj ET Q q 0 0 0 rg BT 510.71 345.10 Td (om ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 333.10 Td (91.3%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.88 333.10 Td ( as a) Tj ET Q q 0 0 0 rg BT 96.80 333.10 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 102.41 333.10 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 181.87 333.10 Td (, and c) Tj ET Q q 0 0 0 rg BT 208.33 333.10 Td (omprised ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 249.03 333.10 Td (3.2 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 291.65 333.10 Td ( occupied squar) Tj ET Q q 0 0 0 rg BT 355.49 333.10 Td (e f) Tj ET Q q 0 0 0 rg BT 365.53 333.10 Td (ee) Tj ET Q q 0 0 0 rg BT 375.43 333.10 Td (t, pr) Tj ET Q q 0 0 0 rg BT 392.12 333.10 Td (o) Tj ET Q q 0 0 0 rg BT 397.34 333.10 Td (viding pot) Tj ET Q q 0 0 0 rg BT 437.70 333.10 Td (en) Tj ET Q q 0 0 0 rg BT 447.83 333.10 Td (tial ne) Tj ET Q q 0 0 0 rg BT 473.00 333.10 Td (t oper) Tj ET Q q 0 0 0 rg BT 497.39 333.10 Td (a) Tj ET Q q 0 0 0 rg BT 502.09 333.10 Td (ting ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 321.10 Td (inc) Tj ET Q q 0 0 0 rg BT 65.69 321.10 Td (ome gr) Tj ET Q q 0 0 0 rg BT 94.22 321.10 Td (o) Tj ET Q q 0 0 0 rg BT 99.46 321.10 Td (w) Tj ET Q q 0 0 0 rg BT 106.63 321.10 Td (th as the r) Tj ET Q q 0 0 0 rg BT 147.65 321.10 Td (ede) Tj ET Q q 0 0 0 rg BT 162.80 321.10 Td (v) Tj ET Q q 0 0 0 rg BT 167.22 321.10 Td (elopmen) Tj ET Q q 0 0 0 rg BT 203.15 321.10 Td (t, de) Tj ET Q q 0 0 0 rg BT 221.43 321.10 Td (v) Tj ET Q q 0 0 0 rg BT 225.85 321.10 Td (elopmen) Tj ET Q q 0 0 0 rg BT 261.77 321.10 Td (t and e) Tj ET Q q 0 0 0 rg BT 289.77 321.10 Td (xpansion activities ar) Tj ET Q q 0 0 0 rg BT 374.80 321.10 Td (e c) Tj ET Q q 0 0 0 rg BT 386.18 321.10 Td (omple) Tj ET Q q 0 0 0 rg BT 411.92 321.10 Td (t) Tj ET Q q 0 0 0 rg BT 415.16 321.10 Td (ed. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 303.10 Td (Occupancy of the Compan) Tj ET Q q 0 0 0 rg BT 160.78 303.10 Td (y's shopping cen) Tj ET Q q 0 0 0 rg BT 227.51 303.10 Td (tr) Tj ET Q q 0 0 0 rg BT 234.21 303.10 Td (e portf) Tj ET Q q 0 0 0 rg BT 261.66 303.10 Td (olio b) Tj ET Q q 0 0 0 rg BT 284.26 303.10 Td (y pr) Tj ET Q q 0 0 0 rg BT 299.63 303.10 Td (operty c) Tj ET Q q 0 0 0 rg BT 332.90 303.10 Td (a) Tj ET Q q 0 0 0 rg BT 337.59 303.10 Td (t) Tj ET Q q 0 0 0 rg BT 340.84 303.10 Td (eg) Tj ET Q q 0 0 0 rg BT 350.45 303.10 Td (oriz) Tj ET Q q 0 0 0 rg BT 365.29 303.10 Td (a) Tj ET Q q 0 0 0 rg BT 369.99 303.10 Td (tion as a) Tj ET Q q 0 0 0 rg BT 404.08 303.10 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 409.69 303.10 Td (Mar) Tj ET Q q 0 0 0 rg BT 426.37 303.10 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 473.28 303.10 Td ( is as f) Tj ET Q q 0 0 0 rg BT 497.81 303.10 Td (ollo) Tj ET Q q 0 0 0 rg BT 512.91 303.10 Td (w) Tj ET Q q 0 0 0 rg BT 519.97 303.10 Td (s:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 292.6 m 260.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 292.6 m 310.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 292.6 m 359.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 292.6 m 404.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 292.6 m 457.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 292.6 m 505.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 292.6 m 555.5 292.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 278.6 m 260.5 278.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 238.60000000000002 m 260.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260.5 278.6 m 310.5 278.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260.5 238.60000000000002 m 310.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310.5 278.6 m 359.5 278.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310.5 238.60000000000002 m 359.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 359.5 278.6 m 404.5 278.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 359.5 238.60000000000002 m 404.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404.5 278.6 m 457.5 278.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404.5 238.60000000000002 m 457.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 457.5 278.6 m 505.5 278.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 457.5 238.60000000000002 m 505.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 278.6 m 555.5 278.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 238.60000000000002 m 555.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 205.60000000000002 m 260.5 205.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 192.60000000000002 m 260.5 192.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260.5 205.60000000000002 m 310.5 205.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260.5 192.60000000000002 m 310.5 192.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310.5 205.60000000000002 m 359.5 205.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310.5 192.60000000000002 m 359.5 192.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 359.5 205.60000000000002 m 404.5 205.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 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86.60000000000002 m 404.5 86.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404.5 101.60000000000002 m 457.5 101.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 86.60000000000002 m 457.5 86.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 457.5 101.60000000000002 m 505.5 101.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 86.60000000000002 m 505.5 86.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 101.60000000000002 m 555.5 101.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 86.60000000000002 m 555.5 86.60000000000002 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 283.35 Td (As at) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 343.25 283.35 Td (March 31, 2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 480.45 283.35 Td (December 31, 2014) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 243.10 Td (\(square feet in thousands, except other data\)) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 291.80 257.98 Td (Total) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 277.95 250.48 Td (Occupied) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 270.20 242.98 Td (Square Feet) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 319.75 242.98 Td (% Occupied) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 371.00 270.48 Td (Weighted) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 375.90 262.98 Td (Average) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 374.65 255.48 Td (Rate per) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 371.95 247.98 Td (Occupied) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 363.60 240.48 Td (Square Foot) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 439.30 257.98 Td (T) Tj ET Q q 0 0 0 rg BT 442.29 257.98 Td (ot) Tj ET Q q 0 0 0 rg BT 448.66 257.98 Td (al) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 425.40 250.48 Td (Occupied ) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 417.85 242.98 Td (Squar) Tj ET Q q 0 0 0 rg BT 435.29 242.98 Td (e F) Tj ET Q q 0 0 0 rg BT 444.05 242.98 Td (ee) Tj ET Q q 0 0 0 rg BT 451.47 242.98 Td (t) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 466.35 242.98 Td (% Occupied) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 522.60 265.48 Td (Weighted) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 512.00 257.98 Td (Average Rate) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 511.40 250.48 Td (per Occupied) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 515.35 242.98 Td (Square Foot) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 229.35 Td (Same Property stable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 282.00 229.35 Td (17,447) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 336.30 229.35 Td (96.5) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.40 229.35 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 362.00 229.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 380.50 229.35 Td (18.49) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.15 229.35 Td (17,510) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.55 229.35 Td (96.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.55 229.35 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.00 229.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 229.35 Td (18.53) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 216.35 Td (Same Property with incremental redevelopment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 207.35 Td (and expansion) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 286.55 216.35 Td (2,500) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 336.30 216.35 Td (95.8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.40 216.35 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 380.50 216.35 Td (16.53) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 433.75 216.35 Td (2,521) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.55 216.35 Td (96.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.55 216.35 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 216.35 Td (16.40) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 196.35 Td (Total Same Property) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 282.00 196.35 Td (19,947) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 336.30 196.35 Td (96.4) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.40 196.35 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 380.50 196.35 Td (18.24) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.15 196.35 Td (20,031) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.55 196.35 Td (96.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.55 196.35 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 196.35 Td (18.26) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 183.35 Td (Major redevelopment) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 286.55 183.35 Td (2,155) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 336.30 183.35 Td (90.7) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.40 183.35 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 380.50 183.35 Td (19.69) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 433.75 183.35 Td (2,152) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.55 183.35 Td (90.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.55 183.35 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 183.35 Td (19.55) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 170.35 Td (Ground-up development) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 293.45 170.35 Td (480) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 336.30 170.35 Td (90.9) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.40 170.35 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 380.50 170.35 Td (16.04) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 440.55 170.35 Td (480) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.55 170.35 Td (90.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.55 170.35 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 170.35 Td (18.55) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 157.35 Td (Investment properties classified as held for sale) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 293.45 157.35 Td (132) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 331.75 157.35 Td (100.0) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.40 157.35 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 380.50 157.35 Td (12.75) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 440.55 157.35 Td (132) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 478.00 157.35 Td (100.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.55 157.35 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 157.35 Td (13.07) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 144.35 Td (Total portfolio before acquisitions and dispositions) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 282.00 144.35 Td (22,714) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 336.30 144.35 Td (95.6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.40 144.35 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 380.50 144.35 Td (18.30) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.15 144.35 Td (22,795) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.55 144.35 Td (96.1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.55 144.35 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 144.35 Td (18.36) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 131.35 Td (Acquisitions 2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 298.00 131.35 Td (32) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 336.30 131.35 Td (74.8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.40 131.35 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 380.50 131.35 Td (31.08) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 446.10 131.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 490.40 131.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.55 131.35 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 544.10 131.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 118.35 Td (Acquisitions 2014) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 293.45 118.35 Td (430) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 336.30 118.35 Td (91.9) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.40 118.35 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 380.50 118.35 Td (26.20) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 440.55 118.35 Td (434) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.55 118.35 Td (92.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.55 118.35 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 118.35 Td (26.40) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 105.35 Td (Dispositions 2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 299.00 105.35 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 344.25 105.35 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.40 105.35 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 393.00 105.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 440.55 105.35 Td (127) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.55 105.35 Td (93.1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.55 105.35 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 105.35 Td (12.65) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 91.35 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 282.00 91.35 Td (23,176) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 336.30 91.35 Td (95.6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.40 91.35 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 362.00 91.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 380.50 91.35 Td (18.40) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.15 91.35 Td (23,356) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.55 91.35 Td (96.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.55 91.35 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.00 91.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 91.35 Td (18.42) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 61 0 obj <> endobj 62 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (29) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 694.50 Td (During the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.25 694.50 Td (thr) Tj ET Q q 0 0 0 rg BT 111.21 694.50 Td (ee mon) Tj ET Q q 0 0 0 rg BT 141.84 694.50 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 201.27 694.50 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.18 694.50 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 302.48 694.50 Td (y achie) Tj ET Q q 0 0 0 rg BT 330.76 694.50 Td (v) Tj ET Q q 0 0 0 rg BT 335.18 694.50 Td (ed a ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 354.72 694.50 Td (10.8%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 379.60 694.50 Td ( r) Tj ET Q q 0 0 0 rg BT 385.14 694.50 Td (a) Tj ET Q q 0 0 0 rg BT 389.84 694.50 Td (t) Tj ET Q q 0 0 0 rg BT 393.08 694.50 Td (e incr) Tj ET Q q 0 0 0 rg BT 415.45 694.50 Td (ease per occupied squar) Tj ET Q q 0 0 0 rg BT 513.93 694.50 Td (e f) Tj ET Q q 0 0 0 rg BT 524.00 694.50 Td (oot ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 682.50 Td (on ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.79 682.50 Td (419,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.69 682.50 Td ( squar) Tj ET Q q 0 0 0 rg BT 124.52 682.50 Td (e f) Tj ET Q q 0 0 0 rg BT 134.56 682.50 Td (ee) Tj ET Q q 0 0 0 rg BT 144.45 682.50 Td (t of r) Tj ET Q q 0 0 0 rg BT 164.00 682.50 Td (ene) Tj ET Q q 0 0 0 rg BT 179.16 682.50 Td (w) Tj ET Q q 0 0 0 rg BT 186.20 682.50 Td (al leases o) Tj ET Q q 0 0 0 rg BT 227.89 682.50 Td (v) Tj ET Q q 0 0 0 rg BT 232.31 682.50 Td (er the e) Tj ET Q q 0 0 0 rg BT 263.70 682.50 Td (xpiring lease r) Tj ET Q q 0 0 0 rg BT 320.07 682.50 Td (a) Tj ET Q q 0 0 0 rg BT 324.77 682.50 Td (t) Tj ET Q q 0 0 0 rg BT 328.01 682.50 Td (es. The r) Tj ET Q q 0 0 0 rg BT 362.33 682.50 Td (a) Tj ET Q q 0 0 0 rg BT 367.02 682.50 Td (t) Tj ET Q q 0 0 0 rg BT 370.26 682.50 Td (e incr) Tj ET Q q 0 0 0 rg BT 392.63 682.50 Td (ease f) Tj ET Q q 0 0 0 rg BT 416.39 682.50 Td (or the Same Pr) Tj ET Q q 0 0 0 rg BT 476.35 682.50 Td (operty portf) Tj ET Q q 0 0 0 rg BT 525.68 682.50 Td (olio ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 670.50 Td (w) Tj ET Q q 0 0 0 rg BT 61.04 670.50 Td (as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 670.50 Td (11.5%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 96.88 670.50 Td ( on ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 111.92 670.50 Td (395,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 144.83 670.50 Td ( squar) Tj ET Q q 0 0 0 rg BT 169.65 670.50 Td (e f) Tj ET Q q 0 0 0 rg BT 179.69 670.50 Td (ee) Tj ET Q q 0 0 0 rg BT 189.59 670.50 Td (t of r) Tj ET Q q 0 0 0 rg BT 209.14 670.50 Td (ene) Tj ET Q q 0 0 0 rg BT 224.30 670.50 Td (w) Tj ET Q q 0 0 0 rg BT 231.33 670.50 Td (als and f) Tj ET Q q 0 0 0 rg BT 264.99 670.50 Td (or the r) Tj ET Q q 0 0 0 rg BT 295.21 670.50 Td (emainder of the portf) Tj ET Q q 0 0 0 rg BT 383.12 670.50 Td (olio w) Tj ET Q q 0 0 0 rg BT 407.55 670.50 Td (as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.51 670.50 Td (1.5%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 438.32 670.50 Td ( on ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 453.37 670.50 Td (24,000) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 481.21 670.50 Td ( squar) Tj ET Q q 0 0 0 rg BT 506.03 670.50 Td (e f) Tj ET Q q 0 0 0 rg BT 516.07 670.50 Td (ee) Tj ET Q q 0 0 0 rg BT 525.97 670.50 Td (t on ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 658.50 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 658.50 Td (ene) Tj ET Q q 0 0 0 rg BT 72.51 658.50 Td (w) Tj ET Q q 0 0 0 rg BT 79.55 658.50 Td (als.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 640.50 Td (The a) Tj ET Q q 0 0 0 rg BT 75.99 640.50 Td (v) Tj ET Q q 0 0 0 rg BT 80.41 640.50 Td (er) Tj ET Q q 0 0 0 rg BT 88.66 640.50 Td (ag) Tj ET Q q 0 0 0 rg BT 98.08 640.50 Td (e r) Tj ET Q q 0 0 0 rg BT 108.67 640.50 Td (en) Tj ET Q q 0 0 0 rg BT 118.80 640.50 Td (t) Tj ET Q q 0 0 0 rg BT 122.03 640.50 Td (al r) Tj ET Q q 0 0 0 rg BT 134.66 640.50 Td (a) Tj ET Q q 0 0 0 rg BT 139.36 640.50 Td (t) Tj ET Q q 0 0 0 rg BT 142.60 640.50 Td (e per occupied squar) Tj ET Q q 0 0 0 rg BT 227.40 640.50 Td (e f) Tj ET Q q 0 0 0 rg BT 237.48 640.50 Td (oot f) Tj ET Q q 0 0 0 rg BT 256.48 640.50 Td (or the Same Pr) Tj ET Q q 0 0 0 rg BT 316.44 640.50 Td (operty portf) Tj ET Q q 0 0 0 rg BT 365.77 640.50 Td (olio decr) Tj ET Q q 0 0 0 rg BT 400.98 640.50 Td (eased mar) Tj ET Q q 0 0 0 rg BT 443.27 640.50 Td (ginally t) Tj ET Q q 0 0 0 rg BT 474.95 640.50 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 482.48 640.50 Td ($18.24) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 510.35 640.50 Td ( as a) Tj ET Q q 0 0 0 rg BT 528.27 640.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 628.50 Td (Mar) Tj ET Q q 0 0 0 rg BT 70.68 628.50 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 117.59 628.50 Td ( fr) Tj ET Q q 0 0 0 rg BT 126.23 628.50 Td (om ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 141.75 628.50 Td ($18.26) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.62 628.50 Td ( as a) Tj ET Q q 0 0 0 rg BT 187.54 628.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 193.15 628.50 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 272.61 628.50 Td (. Manag) Tj ET Q q 0 0 0 rg BT 305.40 628.50 Td (emen) Tj ET Q q 0 0 0 rg BT 328.50 628.50 Td (t belie) Tj ET Q q 0 0 0 rg BT 353.86 628.50 Td (v) Tj ET Q q 0 0 0 rg BT 358.28 628.50 Td (es tha) Tj ET Q q 0 0 0 rg BT 382.73 628.50 Td (t the w) Tj ET Q q 0 0 0 rg BT 411.24 628.50 Td (eigh) Tj ET Q q 0 0 0 rg BT 428.38 628.50 Td (t) Tj ET Q q 0 0 0 rg BT 431.62 628.50 Td (ed a) Tj ET Q q 0 0 0 rg BT 448.73 628.50 Td (v) Tj ET Q q 0 0 0 rg BT 453.15 628.50 Td (er) Tj ET Q q 0 0 0 rg BT 461.41 628.50 Td (ag) Tj ET Q q 0 0 0 rg BT 470.82 628.50 Td (e r) Tj ET Q q 0 0 0 rg BT 481.41 628.50 Td (en) Tj ET Q q 0 0 0 rg BT 491.55 628.50 Td (t) Tj ET Q q 0 0 0 rg BT 494.78 628.50 Td (al r) Tj ET Q q 0 0 0 rg BT 507.40 628.50 Td (a) Tj ET Q q 0 0 0 rg BT 512.10 628.50 Td (t) Tj ET Q q 0 0 0 rg BT 515.34 628.50 Td (e per ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 616.50 Td (squar) Tj ET Q q 0 0 0 rg BT 76.56 616.50 Td (e f) Tj ET Q q 0 0 0 rg BT 86.64 616.50 Td (oot f) Tj ET Q q 0 0 0 rg BT 105.64 616.50 Td (or the portf) Tj ET Q q 0 0 0 rg BT 152.71 616.50 Td (olio w) Tj ET Q q 0 0 0 rg BT 177.16 616.50 Td (ould be in the r) Tj ET Q q 0 0 0 rg BT 238.92 616.50 Td (ang) Tj ET Q q 0 0 0 rg BT 253.58 616.50 Td (e of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 271.41 616.50 Td ($23.00 t) Tj ET Q q 0 0 0 rg BT 304.79 616.50 Td (o $25.00) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 340.19 616.50 Td (, if the portf) Tj ET Q q 0 0 0 rg BT 388.59 616.50 Td (olio w) Tj ET Q q 0 0 0 rg BT 413.05 616.50 Td (er) Tj ET Q q 0 0 0 rg BT 421.38 616.50 Td (e a) Tj ET Q q 0 0 0 rg BT 433.32 616.50 Td (t mark) Tj ET Q q 0 0 0 rg BT 459.42 616.50 Td (e) Tj ET Q q 0 0 0 rg BT 464.34 616.50 Td (t. The Compan) Tj ET Q q 0 0 0 rg BT 523.54 616.50 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 604.50 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 604.50 Td (on) Tj ET Q q 0 0 0 rg BT 68.58 604.50 Td (tinues t) Tj ET Q q 0 0 0 rg BT 99.13 604.50 Td (o seek w) Tj ET Q q 0 0 0 rg BT 134.40 604.50 Td (ell-loc) Tj ET Q q 0 0 0 rg BT 158.74 604.50 Td (a) Tj ET Q q 0 0 0 rg BT 163.43 604.50 Td (t) Tj ET Q q 0 0 0 rg BT 166.68 604.50 Td (ed pr) Tj ET Q q 0 0 0 rg BT 187.75 604.50 Td (operties in urban mark) Tj ET Q q 0 0 0 rg BT 280.12 604.50 Td (e) Tj ET Q q 0 0 0 rg BT 285.04 604.50 Td (ts with belo) Tj ET Q q 0 0 0 rg BT 332.63 604.50 Td (w mark) Tj ET Q q 0 0 0 rg BT 362.53 604.50 Td (e) Tj ET Q q 0 0 0 rg BT 367.45 604.50 Td (t r) Tj ET Q q 0 0 0 rg BT 376.42 604.50 Td (en) Tj ET Q q 0 0 0 rg BT 386.55 604.50 Td (t f) Tj ET Q q 0 0 0 rg BT 395.01 604.50 Td (or futur) Tj ET Q q 0 0 0 rg BT 426.29 604.50 Td (e v) Tj ET Q q 0 0 0 rg BT 437.90 604.50 Td (alue cr) Tj ET Q q 0 0 0 rg BT 465.05 604.50 Td (ea) Tj ET Q q 0 0 0 rg BT 474.73 604.50 Td (tion activities. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 586.50 Td (Chang) Tj ET Q q 0 0 0 rg BT 79.25 586.50 Td (es in the Compan) Tj ET Q q 0 0 0 rg BT 149.76 586.50 Td (y) Tj ET Q q 0 0 0 rg BT 154.59 586.50 Td () Tj ET Q q 0 0 0 rg BT 156.47 586.50 Td (s gr) Tj ET Q q 0 0 0 rg BT 170.67 586.50 Td (oss leasable ar) Tj ET Q q 0 0 0 rg BT 229.72 586.50 Td (ea and occupancy f) Tj ET Q q 0 0 0 rg BT 307.45 586.50 Td (or the t) Tj ET Q q 0 0 0 rg BT 337.56 586.50 Td (ot) Tj ET Q q 0 0 0 rg BT 346.06 586.50 Td (al portf) Tj ET Q q 0 0 0 rg BT 375.61 586.50 Td (olio ar) Tj ET Q q 0 0 0 rg BT 401.15 586.50 Td (e se) Tj ET Q q 0 0 0 rg BT 417.22 586.50 Td (t out belo) Tj ET Q q 0 0 0 rg BT 456.73 586.50 Td (w: ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 576 m 127.5 576 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 550 m 127.5 550 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 127.5 576 m 162.5 576 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 127.5 550 m 162.5 550 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 162.5 576 m 188.5 576 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162.5 550 m 188.5 550 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 576 m 225.5 550 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 188.5 576 m 225.5 576 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 188.5 550 m 225.5 550 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 576 m 260.5 576 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 550 m 260.5 550 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 576 m 287.5 576 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260.5 550 m 287.5 550 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 576 m 322.5 550 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287.5 576 m 322.5 576 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 287.5 550 m 322.5 550 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322.5 576 m 358.5 576 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 550 m 358.5 550 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 576 m 383.5 576 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 358.5 550 m 383.5 550 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.5 576 m 419.5 576 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 383.5 550 m 419.5 550 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 576 m 442.5 550 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 576 m 442.5 576 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 550 m 442.5 550 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 576 m 478.5 576 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 550 m 478.5 550 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 576 m 509.5 576 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 550 m 509.5 550 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 576 m 549.5 576 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509.5 550 m 549.5 550 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 510 m 127.5 510 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 127.5 510 m 162.5 510 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162.5 510 m 188.5 510 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 550 m 225.5 510 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 188.5 510 m 225.5 510 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 510 m 260.5 510 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260.5 510 m 287.5 510 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 550 m 322.5 510 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 287.5 510 m 322.5 510 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 510 m 358.5 510 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 358.5 510 m 383.5 510 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 383.5 510 m 419.5 510 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 550 m 442.5 510 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 510 m 442.5 510 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 510 m 478.5 510 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 510 m 509.5 510 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509.5 510 m 549.5 510 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 510 m 225.5 495 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 510 m 322.5 495 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 510 m 442.5 495 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 510 m 478.5 510 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 495 m 225.5 482 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 495 m 322.5 482 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 495 m 442.5 482 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 482 m 225.5 469 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 482 m 322.5 469 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 482 m 442.5 469 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 469 m 225.5 450 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 469 m 322.5 450 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 469 m 442.5 450 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 450 m 225.5 423 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 450 m 322.5 423 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 450 m 442.5 423 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 423 m 225.5 410 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 423 m 322.5 410 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 423 m 442.5 410 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 397 m 127.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 127.5 397 m 162.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162.5 397 m 188.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 410 m 225.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 188.5 397 m 225.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 397 m 260.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260.5 397 m 287.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 410 m 322.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 287.5 397 m 322.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 397 m 358.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 358.5 397 m 383.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 383.5 397 m 419.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 410 m 442.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 397 m 442.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 397 m 478.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 397 m 509.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509.5 397 m 549.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 397 m 127.5 397 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 397 m 225.5 372 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 397 m 322.5 372 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 397 m 442.5 372 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 372 m 225.5 353 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 372 m 322.5 353 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 372 m 442.5 353 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 353 m 225.5 334 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 353 m 322.5 334 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 353 m 442.5 334 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 334 m 478.5 334 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 334 m 509.5 334 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 334 m 127.5 334 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 319 m 127.5 319 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 127.5 334 m 162.5 334 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 127.5 319 m 162.5 319 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162.5 334 m 188.5 334 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 162.5 319 m 188.5 319 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 334 m 225.5 319 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 188.5 334 m 225.5 334 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 188.5 319 m 225.5 319 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 334 m 260.5 334 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 319 m 260.5 319 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260.5 334 m 287.5 334 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 319 m 287.5 319 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 334 m 322.5 319 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 287.5 334 m 322.5 334 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287.5 319 m 322.5 319 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 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RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 306 m 442.5 306 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 306 m 478.5 306 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 306 m 509.5 306 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509.5 306 m 549.5 306 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 306 m 225.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 293 m 260.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 306 m 322.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 306 m 442.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 306 m 478.5 306 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 293 m 478.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 293 m 509.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509.5 293 m 549.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 293 m 127.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 127.5 293 m 162.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162.5 293 m 188.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 293 m 225.5 280 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 188.5 293 m 225.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260.5 293 m 287.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 293 m 322.5 280 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 287.5 293 m 322.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 293 m 358.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 358.5 293 m 383.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 383.5 293 m 419.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 293 m 442.5 280 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 293 m 442.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 293 m 478.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 293 m 509.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509.5 293 m 549.5 293 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 280 m 127.5 280 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 267 m 127.5 267 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 127.5 280 m 162.5 280 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 127.5 267 m 162.5 267 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162.5 280 m 188.5 280 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 162.5 267 m 188.5 267 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 280 m 225.5 267 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 188.5 280 m 225.5 280 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 188.5 267 m 225.5 267 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 280 m 260.5 280 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 267 m 260.5 267 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260.5 280 m 287.5 280 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 267 m 287.5 267 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 280 m 322.5 267 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 287.5 280 m 322.5 280 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287.5 267 m 322.5 267 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 280 m 358.5 280 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322.5 267 m 358.5 267 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 358.5 280 m 383.5 280 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 267 m 383.5 267 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 383.5 280 m 419.5 280 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.5 267 m 419.5 267 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 280 m 442.5 267 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 280 m 442.5 280 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 267 m 442.5 267 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 280 m 478.5 280 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 267 m 478.5 267 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 280 m 509.5 280 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 267 m 509.5 267 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509.5 280 m 549.5 280 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 267 m 549.5 267 l s BT /F4 7.00 Tf ET q 0 0 0 rg BT 57.00 561.25 Td (Three months ended) Tj ET Q BT /F4 7.00 Tf ET q 0 0 0 rg BT 57.00 554.25 Td (March 31, 2015) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 147.35 554.25 Td (Total Same Property) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 229.45 568.25 Td (Major redevelopment, ground-) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 245.15 561.25 Td (up, acquisitions and) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 256.60 554.25 Td (dispositions) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 370.50 554.25 Td (Vacancy) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 475.55 554.25 Td (Portfolio Total) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 136.10 526.00 Td (Occupied) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 130.05 520.00 Td (Square Feet) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 130.00 514.00 Td (\(thousands\)) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 172.85 514.00 Td (%) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 198.50 538.00 Td (Weighted) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 202.40 532.00 Td (Average) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 201.40 526.00 Td (Rate per) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 199.10 520.00 Td (Occupied) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 192.65 514.00 Td (Square Foot) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 234.10 526.00 Td (Occupied) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 228.05 520.00 Td (Square Feet) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 228.00 514.00 Td (\(thousands\)) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 271.35 514.00 Td (%) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 295.50 543.00 Td (Weighted) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 299.40 537.00 Td (Average) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 298.40 531.00 Td (Rate per) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 296.10 525.00 Td (Occupied) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 302.05 519.00 Td (Square) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 307.95 513.00 Td (Foot) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 339.75 538.00 Td (Under) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 327.55 532.00 Td (Redevelop-) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 342.10 526.00 Td (ment) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 326.05 520.00 Td (Square Feet) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 326.00 514.00 Td (\(thousands\)) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 368.35 514.00 Td (%) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.55 526.00 Td (Vacant) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 387.05 520.00 Td (Square Feet) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 387.00 514.00 Td (\(thousands\)) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 428.35 514.00 Td (%) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 463.25 526.00 Td (T) Tj ET Q q 0 0 0 rg BT 465.64 526.00 Td (ot) Tj ET Q q 0 0 0 rg BT 470.74 526.00 Td (al ) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 446.05 520.00 Td (Squar) Tj ET Q q 0 0 0 rg BT 460.00 520.00 Td (e F) Tj ET Q q 0 0 0 rg BT 467.01 520.00 Td (ee) Tj ET Q q 0 0 0 rg BT 472.95 520.00 Td (t ) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 446.00 514.00 Td (\(thousands\)) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 483.10 526.00 Td (Occupied) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 489.05 520.00 Td (Square) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 489.70 514.00 Td (Feet %) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 522.50 532.00 Td (Weighted) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 514.00 526.00 Td (Average Rate) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 513.50 520.00 Td (per Occupied) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 516.65 514.00 Td (Square Foot) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 57.00 499.25 Td (December 31, 2014 ) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 114.69 502.59 Td (\(1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 137.10 499.50 Td (20,031) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 167.80 499.50 Td (96.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 182.15 499.50 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 191.00 499.50 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 200.85 499.50 Td (18.26) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 235.95 499.50 Td (3,325) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 266.80 499.50 Td (91.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 281.15 499.50 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 290.00 499.50 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 297.85 499.50 Td (19.37) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.35 499.50 Td (84) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.90 499.50 Td (0.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.15 499.50 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.05 499.50 Td (891) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.90 499.50 Td (3.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.15 499.50 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.90 499.50 Td (24,331) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 488.80 499.50 Td (96.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 503.15 499.50 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.00 499.50 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.85 499.50 Td (18.42) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 57.00 486.25 Td (Tenant openings) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 147.30 486.50 Td (122) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 201.00 486.50 Td (18.81) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 246.10 486.50 Td (18) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 298.00 486.50 Td (25.84) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 348.25 486.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 398.65 486.50 Td (\(140) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 413.25 486.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 465.00 486.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 525.00 486.50 Td (19.71) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 57.00 473.25 Td (Tenant closures) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 144.85 473.50 Td (\(202) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 159.50 473.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 198.50 473.50 Td (\(21.35) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 219.25 473.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 243.70 473.50 Td (\(23) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 254.25 473.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 295.55 473.50 Td (\(24.12) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 316.25 473.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 348.25 473.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 401.05 473.50 Td (225) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 465.00 473.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 522.55 473.50 Td (\(21.63) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 543.25 473.50 Td (\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 57.00 461.25 Td (Tenant closures for) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 66.00 454.25 Td (redevelopment) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 148.90 460.50 Td (\(18) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 159.50 460.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 198.50 460.50 Td (\(23.63) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 219.25 460.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 243.70 460.50 Td (\(37) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 254.25 460.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 295.55 460.50 Td (\(13.04) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 316.25 460.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 347.35 460.50 Td (55) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 406.00 460.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 465.00 460.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 522.55 460.50 Td (\(16.47) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 543.25 460.50 Td (\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 57.00 442.25 Td (De) Tj ET Q q 0 0 0 rg BT 64.76 442.25 Td (v) Tj ET Q q 0 0 0 rg BT 67.85 442.25 Td (elopmen) Tj ET Q q 0 0 0 rg BT 92.99 442.25 Td (ts t) Tj ET Q q 0 0 0 rg BT 107.00 442.25 Td (enan) Tj ET Q q 0 0 0 rg BT 121.12 442.25 Td (t ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 66.00 435.25 Td (openings c) Tj ET Q q 0 0 0 rg BT 96.33 435.25 Td (oming ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 66.00 428.25 Td (online ) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 85.33 431.59 Td (\(2\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 155.35 441.50 Td (5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 201.00 441.50 Td (31.00) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 246.10 441.50 Td (37) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 298.00 441.50 Td (35.54) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 348.25 441.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 405.10 441.50 Td (11) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 464.10 441.50 Td (53) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 525.00 441.50 Td (34.99) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 57.00 414.25 Td (Demolitions) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 152.25 414.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 212.00 414.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 247.00 414.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 309.00 414.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 344.95 414.50 Td (\(33) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 355.50 414.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 406.00 414.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 461.70 414.50 Td (\(33) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 472.25 414.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 536.00 414.50 Td () Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 57.00 401.25 Td (Reclassification) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 155.35 401.50 Td (9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 212.00 401.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 250.15 401.50 Td (6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 309.00 401.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 347.35 401.50 Td (62) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 402.70 401.50 Td (\(95) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 413.25 401.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 461.70 401.50 Td (\(18) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 472.25 401.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 536.00 401.50 Td () Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 57.00 389.25 Td (T) Tj ET Q q 0 0 0 rg BT 59.79 389.25 Td (ot) Tj ET Q q 0 0 0 rg BT 65.74 389.25 Td (al portf) Tj ET Q q 0 0 0 rg BT 86.43 389.25 Td (olio be) Tj ET Q q 0 0 0 rg BT 105.70 389.25 Td (f) Tj ET Q q 0 0 0 rg BT 107.69 389.25 Td (or) Tj ET Q q 0 0 0 rg BT 113.73 389.25 Td (e ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 66.00 382.25 Td (2015 dispositions) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 66.00 375.25 Td (and acquisitions) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 137.15 388.50 Td (19,947) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 167.95 388.50 Td (96.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 182.25 388.50 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 191.00 388.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 201.00 388.50 Td (18.24) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 236.00 388.50 Td (3,326) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 266.95 388.50 Td (91.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 281.25 388.50 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 290.00 388.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 298.00 388.50 Td (19.03) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 343.30 388.50 Td (168) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 367.00 388.50 Td (0.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 377.25 388.50 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 401.05 388.50 Td (892) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 426.00 388.50 Td (3.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 436.25 388.50 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 449.95 388.50 Td (24,333) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 488.95 388.50 Td (95.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 503.25 388.50 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 512.00 388.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 525.00 388.50 Td (18.36) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 57.00 364.25 Td (Dispositions \(at date of) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 66.00 357.25 Td (disposition\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 152.25 363.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 212.00 363.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 239.65 363.50 Td (\(127) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 254.25 363.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 266.95 363.50 Td (93.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 281.25 363.50 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 295.55 363.50 Td (\(12.65) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 316.25 363.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 348.25 363.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 402.70 363.50 Td (\(10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 413.25 363.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 457.65 363.50 Td (\(137) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 472.25 363.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 488.95 363.50 Td (92.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 503.25 363.50 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 522.55 363.50 Td (\(12.65) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 543.25 363.50 Td (\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 57.00 345.25 Td (Acquisitions \(at date of) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 66.00 338.25 Td (acquisition\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 152.25 344.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 212.00 344.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 246.10 344.50 Td (30) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 266.95 344.50 Td (71.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 281.25 344.50 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 298.00 344.50 Td (31.27) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 348.25 344.50 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 405.10 344.50 Td (12) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 464.10 344.50 Td (42) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 488.95 344.50 Td (71.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 503.25 344.50 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 525.00 344.50 Td (31.27) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 57.00 323.25 Td (March 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 137.10 323.50 Td (19,947) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 167.80 323.50 Td (96.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 182.15 323.50 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 191.00 323.50 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 200.85 323.50 Td (18.24) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 235.95 323.50 Td (3,229) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 266.80 323.50 Td (91.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 281.15 323.50 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 290.00 323.50 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 297.85 323.50 Td (19.40) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.30 323.50 Td (168) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.90 323.50 Td (0.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.15 323.50 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.05 323.50 Td (894) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.90 323.50 Td (3.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.15 323.50 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.90 323.50 Td (24,238) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 488.80 323.50 Td (95.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 503.15 323.50 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.00 323.50 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.85 323.50 Td (18.40) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 57.00 310.25 Td (Renewals) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 147.30 310.50 Td (395) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 191.00 310.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 201.00 310.50 Td (23.93) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 246.10 310.50 Td (24) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 290.00 310.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 298.00 310.50 Td (25.43) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 460.05 310.50 Td (419) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 512.00 310.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 525.00 310.50 Td (24.02) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 57.00 297.25 Td (Renewals expired) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 144.85 297.50 Td (\(395) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 159.50 297.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 191.00 297.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 198.50 297.50 Td (\(21.47) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 219.25 297.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 243.70 297.50 Td (\(24) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 254.25 297.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 290.00 297.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 295.55 297.50 Td (\(25.05) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 316.25 297.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 457.65 297.50 Td (\(419) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 472.25 297.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 512.00 297.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 522.55 297.50 Td (\(21.67) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 543.25 297.50 Td (\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 57.00 284.25 Td (Net increase per square foot from renewals) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 191.00 284.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 205.00 284.50 Td (2.46) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 290.00 284.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 302.05 284.50 Td (0.38) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 512.00 284.50 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 529.05 284.50 Td (2.35) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 57.00 271.25 Td (% Increase on renewal of expiring rents) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 205.00 271.50 Td (11.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 219.25 271.50 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 306.10 271.50 Td (1.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 316.25 271.50 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 529.05 271.50 Td (10.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 543.25 271.50 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 259.44 Td (\(1\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 256.10 Td (Opening balance is r) Tj ET Q q 0 0 0 rg BT 120.60 256.10 Td (e) Tj ET Q q 0 0 0 rg BT 124.05 256.10 Td (vised t) Tj ET Q q 0 0 0 rg BT 142.58 256.10 Td (o r) Tj ET Q q 0 0 0 rg BT 150.20 256.10 Td (e) Tj ET Q q 0 0 0 rg BT 153.62 256.10 Td (flect pr) Tj ET Q q 0 0 0 rg BT 173.74 256.10 Td (operty c) Tj ET Q q 0 0 0 rg BT 197.03 256.10 Td (a) Tj ET Q q 0 0 0 rg BT 200.32 256.10 Td (t) Tj ET Q q 0 0 0 rg BT 202.59 256.10 Td (eg) Tj ET Q q 0 0 0 rg BT 209.32 256.10 Td (ories c) Tj ET Q q 0 0 0 rg BT 227.76 256.10 Td (onsis) Tj ET Q q 0 0 0 rg BT 242.13 256.10 Td (t) Tj ET Q q 0 0 0 rg BT 244.40 256.10 Td (en) Tj ET Q q 0 0 0 rg BT 251.50 256.10 Td (t with curr) Tj ET Q q 0 0 0 rg BT 281.07 256.10 Td (en) Tj ET Q q 0 0 0 rg BT 288.16 256.10 Td (t period s) Tj ET Q q 0 0 0 rg BT 314.91 256.10 Td (t) Tj ET Q q 0 0 0 rg BT 317.17 256.10 Td (a) Tj ET Q q 0 0 0 rg BT 320.46 256.10 Td (tus.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 248.04 Td (\(2\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.18 244.70 Td (F) Tj ET Q q 0 0 0 rg BT 66.30 244.70 Td (or further discussion of de) Tj ET Q q 0 0 0 rg BT 141.03 244.70 Td (v) Tj ET Q q 0 0 0 rg BT 144.12 244.70 Td (elopmen) Tj ET Q q 0 0 0 rg BT 169.26 244.70 Td (t and r) Tj ET Q q 0 0 0 rg BT 187.83 244.70 Td (ede) Tj ET Q q 0 0 0 rg BT 198.44 244.70 Td (v) Tj ET Q q 0 0 0 rg BT 201.53 244.70 Td (elopmen) Tj ET Q q 0 0 0 rg BT 226.68 244.70 Td (t c) Tj ET Q q 0 0 0 rg BT 233.51 244.70 Td (oming online and under de) Tj ET Q q 0 0 0 rg BT 310.24 244.70 Td (v) Tj ET Q q 0 0 0 rg BT 313.33 244.70 Td (elopmen) Tj ET Q q 0 0 0 rg BT 338.47 244.70 Td (t v) Tj ET Q q 0 0 0 rg BT 345.46 244.70 Td (ac) Tj ET Q q 0 0 0 rg BT 351.72 244.70 Td (ancy) Tj ET Q q 0 0 0 rg BT 364.38 244.70 Td (, r) Tj ET Q q 0 0 0 rg BT 370.05 244.70 Td (e) Tj ET Q q 0 0 0 rg BT 373.47 244.70 Td (f) Tj ET Q q 0 0 0 rg BT 375.44 244.70 Td (er t) Tj ET Q q 0 0 0 rg BT 385.22 244.70 Td (o the Pr) Tj ET Q q 0 0 0 rg BT 410.45 244.70 Td (operties Under De) Tj ET Q q 0 0 0 rg BT 462.61 244.70 Td (v) Tj ET Q q 0 0 0 rg BT 465.70 244.70 Td (elopmen) Tj ET Q q 0 0 0 rg BT 490.85 244.70 Td (t 2015 ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 236.35 Td (De) Tj ET Q q 0 0 0 rg BT 70.76 236.35 Td (v) Tj ET Q q 0 0 0 rg BT 73.85 236.35 Td (elopmen) Tj ET Q q 0 0 0 rg BT 98.99 236.35 Td (t and R) Tj ET Q q 0 0 0 rg BT 118.89 236.35 Td (ede) Tj ET Q q 0 0 0 rg BT 129.50 236.35 Td (v) Tj ET Q q 0 0 0 rg BT 132.59 236.35 Td (elopmen) Tj ET Q q 0 0 0 rg BT 157.74 236.35 Td (t Coming Online section of this MD&A) Tj ET Q q 0 0 0 rg BT 268.64 236.35 Td (. ) Tj ET Q endstream endobj 63 0 obj <> endobj 64 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (30) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 693.00 Td (Lease Ma) Tj ET Q q 0 0 0 rg BT 100.88 693.00 Td (turity Pr) Tj ET Q q 0 0 0 rg BT 141.76 693.00 Td (ofile) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 675.00 Td (The w) Tj ET Q q 0 0 0 rg BT 78.42 675.00 Td (eigh) Tj ET Q q 0 0 0 rg BT 95.56 675.00 Td (t) Tj ET Q q 0 0 0 rg BT 98.80 675.00 Td (ed a) Tj ET Q q 0 0 0 rg BT 115.92 675.00 Td (v) Tj ET Q q 0 0 0 rg BT 120.34 675.00 Td (er) Tj ET Q q 0 0 0 rg BT 128.59 675.00 Td (ag) Tj ET Q q 0 0 0 rg BT 138.01 675.00 Td (e lease t) Tj ET Q q 0 0 0 rg BT 171.70 675.00 Td (erm f) Tj ET Q q 0 0 0 rg BT 193.25 675.00 Td (or the portf) Tj ET Q q 0 0 0 rg BT 240.31 675.00 Td (olio w) Tj ET Q q 0 0 0 rg BT 264.75 675.00 Td (as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 275.71 675.00 Td (5.6) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 288.37 675.00 Td ( y) Tj ET Q q 0 0 0 rg BT 295.04 675.00 Td (ear) Tj ET Q q 0 0 0 rg BT 308.12 675.00 Td (s as a) Tj ET Q q 0 0 0 rg BT 329.95 675.00 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 335.56 675.00 Td (Mar) Tj ET Q q 0 0 0 rg BT 352.24 675.00 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 399.15 675.00 Td (, e) Tj ET Q q 0 0 0 rg BT 408.73 675.00 Td (x) Tj ET Q q 0 0 0 rg BT 412.83 675.00 Td (cluding c) Tj ET Q q 0 0 0 rg BT 448.53 675.00 Td (on) Tj ET Q q 0 0 0 rg BT 458.96 675.00 Td (tr) Tj ET Q q 0 0 0 rg BT 465.59 675.00 Td (actual r) Tj ET Q q 0 0 0 rg BT 495.91 675.00 Td (ene) Tj ET Q q 0 0 0 rg BT 511.07 675.00 Td (w) Tj ET Q q 0 0 0 rg BT 518.11 675.00 Td (al ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 663.00 Td (op) Tj ET Q q 0 0 0 rg BT 64.48 663.00 Td (tions, and including mon) Tj ET Q q 0 0 0 rg BT 164.40 663.00 Td (th-t) Tj ET Q q 0 0 0 rg BT 179.32 663.00 Td (o-mon) Tj ET Q q 0 0 0 rg BT 206.08 663.00 Td (th and other short) Tj ET Q q 0 0 0 rg BT 280.06 663.00 Td (-t) Tj ET Q q 0 0 0 rg BT 286.37 663.00 Td (erm leases with t) Tj ET Q q 0 0 0 rg BT 355.75 663.00 Td (enan) Tj ET Q q 0 0 0 rg BT 375.93 663.00 Td (ts in pr) Tj ET Q q 0 0 0 rg BT 403.84 663.00 Td (operties with pr) Tj ET Q q 0 0 0 rg BT 468.54 663.00 Td (e-de) Tj ET Q q 0 0 0 rg BT 486.75 663.00 Td (v) Tj ET Q q 0 0 0 rg BT 491.17 663.00 Td (elopmen) Tj ET Q q 0 0 0 rg BT 527.10 663.00 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 651.00 Td (activities under) Tj ET Q q 0 0 0 rg BT 116.54 651.00 Td (w) Tj ET Q q 0 0 0 rg BT 123.58 651.00 Td (a) Tj ET Q q 0 0 0 rg BT 128.18 651.00 Td (y) Tj ET Q q 0 0 0 rg BT 132.05 651.00 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 633.00 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 633.00 Td (y) Tj ET Q q 0 0 0 rg BT 109.90 633.00 Td () Tj ET Q q 0 0 0 rg BT 111.78 633.00 Td (s lease ma) Tj ET Q q 0 0 0 rg BT 153.85 633.00 Td (turity pr) Tj ET Q q 0 0 0 rg BT 186.95 633.00 Td (ofile f) Tj ET Q q 0 0 0 rg BT 209.94 633.00 Td (or its shopping cen) Tj ET Q q 0 0 0 rg BT 286.61 633.00 Td (tr) Tj ET Q q 0 0 0 rg BT 293.31 633.00 Td (e portf) Tj ET Q q 0 0 0 rg BT 320.75 633.00 Td (olio as a) Tj ET Q q 0 0 0 rg BT 353.81 633.00 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 359.42 633.00 Td (Mar) Tj ET Q q 0 0 0 rg BT 376.10 633.00 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 423.01 633.00 Td ( w) Tj ET Q q 0 0 0 rg BT 432.31 633.00 Td (as as f) Tj ET Q q 0 0 0 rg BT 457.07 633.00 Td (ollo) Tj ET Q q 0 0 0 rg BT 472.17 633.00 Td (w) Tj ET Q q 0 0 0 rg BT 479.23 633.00 Td (s:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 622.5 m 181.5 622.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 586.5 m 181.5 586.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 181.5 622.5 m 225.5 622.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181.5 586.5 m 225.5 586.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 622.5 m 278.5 622.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 586.5 m 278.5 586.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 622.5 m 341.5 622.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 278.5 586.5 m 341.5 586.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341.5 622.5 m 357.5 622.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341.5 586.5 m 357.5 586.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 622.5 m 420.5 622.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357.5 586.5 m 420.5 586.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 622.5 m 480.5 622.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 586.5 m 480.5 586.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 622.5 m 496.5 622.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 586.5 m 496.5 586.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 622.5 m 555.5 622.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 586.5 m 555.5 586.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 586.5 m 181.5 586.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181.5 586.5 m 225.5 586.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 586.5 m 278.5 586.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 278.5 586.5 m 341.5 586.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341.5 586.5 m 357.5 586.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357.5 586.5 m 420.5 586.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 586.5 m 480.5 586.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 586.5 m 496.5 586.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 586.5 m 555.5 586.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 417.5 m 181.5 417.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 278.5 417.5 m 341.5 417.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 417.5 m 181.5 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 402.5 m 181.5 402.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181.5 417.5 m 225.5 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 181.5 402.5 m 225.5 402.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 417.5 m 278.5 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 402.5 m 278.5 402.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 278.5 417.5 m 341.5 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 402.5 m 341.5 402.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341.5 417.5 m 357.5 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341.5 402.5 m 357.5 402.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357.5 417.5 m 420.5 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 402.5 m 420.5 402.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 417.5 m 480.5 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 402.5 m 480.5 402.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 417.5 m 496.5 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 402.5 m 496.5 402.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 417.5 m 555.5 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 402.5 m 555.5 402.5 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 591.00 Td (Ma) Tj ET Q q 0 0 0 rg BT 67.60 591.00 Td (turity Da) Tj ET Q q 0 0 0 rg BT 95.89 591.00 Td (t) Tj ET Q q 0 0 0 rg BT 98.49 591.00 Td (e ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 104.28 594.81 Td (\(1\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 184.95 599.00 Td ( Number of) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 201.70 591.00 Td (Stores) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 244.50 607.00 Td (Occupied) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 236.45 599.00 Td (Square Feet) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 236.30 591.00 Td (\(thousands\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 285.45 599.00 Td ( Percent of Total) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.45 591.00 Td (Square Feet) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 381.05 614.00 Td (Annualized) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 360.25 606.00 Td (Minimum Rent at) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 384.25 598.00 Td (Expiration) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 378.30 590.00 Td (\(thousands\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 426.25 606.00 Td (P) Tj ET Q q 0 0 0 rg BT 430.22 606.00 Td (er) Tj ET Q q 0 0 0 rg BT 436.88 606.00 Td (cen) Tj ET Q q 0 0 0 rg BT 448.37 606.00 Td (t of T) Tj ET Q q 0 0 0 rg BT 464.51 606.00 Td (ot) Tj ET Q q 0 0 0 rg BT 471.31 606.00 Td (al ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 441.05 598.00 Td (Annualiz) Tj ET Q q 0 0 0 rg BT 468.77 598.00 Td (ed ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 428.50 590.00 Td (Minimum R) Tj ET Q q 0 0 0 rg BT 466.21 590.00 Td (en) Tj ET Q q 0 0 0 rg BT 474.32 590.00 Td (t) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.15 614.00 Td (Average Annual) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 503.50 606.00 Td (Minimum Rent) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 500.10 598.00 Td (per Square Foot) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 511.00 590.00 Td (at Expiration) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 577.25 Td (Mon) Tj ET Q q 0 0 0 rg BT 74.09 577.25 Td (th-t) Tj ET Q q 0 0 0 rg BT 87.51 577.25 Td (o-mon) Tj ET Q q 0 0 0 rg BT 111.59 577.25 Td (th t) Tj ET Q q 0 0 0 rg BT 124.29 577.25 Td (enan) Tj ET Q q 0 0 0 rg BT 142.45 577.25 Td (ts ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 151.02 581.06 Td (\(2\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 208.50 576.25 Td (171) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 261.55 577.25 Td (253) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 323.15 578.25 Td (1.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.55 578.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 360.00 577.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 396.75 577.25 Td (4,166) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.15 578.25 Td (0.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.55 578.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 499.00 577.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 577.25 Td (16.49) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 564.25 Td (2015 \(remainder of the year\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 208.50 563.25 Td (414) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 254.75 564.25 Td (1,409) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 323.15 565.25 Td (5.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.55 565.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.15 564.25 Td (23,893) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.15 565.25 Td (5.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.55 565.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 564.25 Td (16.96) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 551.25 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 208.50 550.25 Td (551) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 254.75 551.25 Td (2,344) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 323.15 552.25 Td (9.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.55 552.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.15 551.25 Td (35,289) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.15 552.25 Td (7.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.55 552.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 552.25 Td (15.06) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 538.25 Td (2017) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 208.50 537.25 Td (584) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 254.75 538.25 Td (2,899) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 318.55 539.25 Td (12.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.55 539.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.15 538.25 Td (52,364) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 457.55 539.25 Td (11.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.55 539.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 539.25 Td (18.06) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 525.25 Td (2018) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 208.50 524.25 Td (590) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 254.75 525.25 Td (2,941) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 318.55 526.25 Td (12.1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.55 526.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.15 525.25 Td (53,244) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 457.55 526.25 Td (11.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.55 526.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 526.25 Td (18.10) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 512.25 Td (2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 208.50 511.25 Td (586) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 254.75 512.25 Td (2,698) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 318.55 513.25 Td (11.1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.55 513.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.15 512.25 Td (55,682) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 457.55 513.25 Td (12.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.55 513.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 513.25 Td (20.64) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 499.25 Td (2020) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 208.50 498.25 Td (349) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 254.75 499.25 Td (1,978) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 323.15 500.25 Td (8.2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.55 500.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.15 499.25 Td (39,156) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.15 500.25 Td (8.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.55 500.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 500.25 Td (19.79) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 486.25 Td (2021) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 208.50 485.25 Td (201) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 254.75 486.25 Td (1,304) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 323.15 487.25 Td (5.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.55 487.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.15 486.25 Td (28,737) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.15 487.25 Td (6.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.55 487.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 487.25 Td (22.04) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 473.25 Td (2022) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 208.50 472.25 Td (237) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 254.75 473.25 Td (1,604) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 323.15 474.25 Td (6.6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.55 474.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.15 473.25 Td (37,805) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.15 474.25 Td (8.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.55 474.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 474.25 Td (23.57) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 460.25 Td (2023) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 208.50 459.25 Td (183) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 254.75 460.25 Td (1,637) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 323.15 461.25 Td (6.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.55 461.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.15 460.25 Td (32,154) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.15 461.25 Td (7.2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.55 461.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 461.25 Td (19.64) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 447.25 Td (2024) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 208.50 446.25 Td (174) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 254.75 447.25 Td (1,067) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 323.15 448.25 Td (4.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.55 448.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.15 447.25 Td (22,578) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.15 448.25 Td (5.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.55 448.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 448.25 Td (21.17) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 434.25 Td (2025) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 213.10 433.25 Td (88) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 261.55 434.25 Td (689) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 323.15 435.25 Td (2.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.55 435.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.15 434.25 Td (16,389) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.15 435.25 Td (3.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.55 435.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 435.25 Td (23.80) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 421.25 Td (Thereafter) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 213.10 420.25 Td (98) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 254.75 421.25 Td (2,353) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 323.15 422.25 Td (9.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.55 422.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.15 421.25 Td (47,485) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 457.55 422.25 Td (10.5) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.55 422.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 422.25 Td (20.17) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 407.25 Td (Total or Weighted Average) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 201.75 407.25 Td (4,226) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 250.15 407.25 Td (23,176) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 318.55 407.25 Td (95.6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.55 407.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 360.00 407.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 387.60 407.25 Td (448,942) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 453.00 407.25 Td (100.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.55 407.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 499.00 407.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 407.25 Td (19.37) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 394.94 Td (\(1\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 59.06 391.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 391.60 Td (Ex) Tj ET Q q 0 0 0 rg BT 69.29 391.60 Td (cluding an) Tj ET Q q 0 0 0 rg BT 98.28 391.60 Td (y c) Tj ET Q q 0 0 0 rg BT 105.93 391.60 Td (on) Tj ET Q q 0 0 0 rg BT 113.23 391.60 Td (tr) Tj ET Q q 0 0 0 rg BT 117.88 391.60 Td (actual r) Tj ET Q q 0 0 0 rg BT 139.10 391.60 Td (ene) Tj ET Q q 0 0 0 rg BT 149.71 391.60 Td (w) Tj ET Q q 0 0 0 rg BT 154.64 391.60 Td (al op) Tj ET Q q 0 0 0 rg BT 168.52 391.60 Td (tions.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 383.54 Td (\(2\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 380.20 Td (Con) Tj ET Q q 0 0 0 rg BT 74.04 380.20 Td (t) Tj ET Q q 0 0 0 rg BT 76.30 380.20 Td (ains t) Tj ET Q q 0 0 0 rg BT 91.52 380.20 Td (enan) Tj ET Q q 0 0 0 rg BT 105.65 380.20 Td (ts on o) Tj ET Q q 0 0 0 rg BT 124.93 380.20 Td (v) Tj ET Q q 0 0 0 rg BT 128.02 380.20 Td (er hold including r) Tj ET Q q 0 0 0 rg BT 179.48 380.20 Td (ene) Tj ET Q q 0 0 0 rg BT 190.09 380.20 Td (w) Tj ET Q q 0 0 0 rg BT 195.01 380.20 Td (als and e) Tj ET Q q 0 0 0 rg BT 219.96 380.20 Td (x) Tj ET Q q 0 0 0 rg BT 223.01 380.20 Td (t) Tj ET Q q 0 0 0 rg BT 225.28 380.20 Td (ensions under neg) Tj ET Q q 0 0 0 rg BT 277.42 380.20 Td (otia) Tj ET Q q 0 0 0 rg BT 288.35 380.20 Td (tion, mon) Tj ET Q q 0 0 0 rg BT 315.90 380.20 Td (th-t) Tj ET Q q 0 0 0 rg BT 326.34 380.20 Td (o-mon) Tj ET Q q 0 0 0 rg BT 345.07 380.20 Td (th t) Tj ET Q q 0 0 0 rg BT 354.95 380.20 Td (enan) Tj ET Q q 0 0 0 rg BT 369.07 380.20 Td (ts and t) Tj ET Q q 0 0 0 rg BT 390.30 380.20 Td (enan) Tj ET Q q 0 0 0 rg BT 404.42 380.20 Td (ts in space a) Tj ET Q q 0 0 0 rg BT 439.04 380.20 Td (t pr) Tj ET Q q 0 0 0 rg BT 448.97 380.20 Td (operties with futur) Tj ET Q q 0 0 0 rg BT 502.42 380.20 Td (e r) Tj ET Q q 0 0 0 rg BT 509.83 380.20 Td (ede) Tj ET Q q 0 0 0 rg BT 520.44 380.20 Td (v) Tj ET Q q 0 0 0 rg BT 523.53 380.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 548.68 380.20 Td (t.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 362.20 Td (The e) Tj ET Q q 0 0 0 rg BT 76.19 362.20 Td (xpiring leases on the Same Pr) Tj ET Q q 0 0 0 rg BT 194.92 362.20 Td (operty portf) Tj ET Q q 0 0 0 rg BT 244.25 362.20 Td (olio g) Tj ET Q q 0 0 0 rg BT 266.27 362.20 Td (ener) Tj ET Q q 0 0 0 rg BT 284.76 362.20 Td (a) Tj ET Q q 0 0 0 rg BT 289.45 362.20 Td (t) Tj ET Q q 0 0 0 rg BT 292.70 362.20 Td (e an annual minimum r) Tj ET Q q 0 0 0 rg BT 386.81 362.20 Td (en) Tj ET Q q 0 0 0 rg BT 396.95 362.20 Td (t of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 413.15 362.20 Td ($19.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 465.90 362.20 Td (, r) Tj ET Q q 0 0 0 rg BT 474.01 362.20 Td (epr) Tj ET Q q 0 0 0 rg BT 487.59 362.20 Td (esen) Tj ET Q q 0 0 0 rg BT 506.62 362.20 Td (ting ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 350.20 Td (79.4%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.88 350.20 Td ( of the annual minimum r) Tj ET Q q 0 0 0 rg BT 182.14 350.20 Td (en) Tj ET Q q 0 0 0 rg BT 192.28 350.20 Td (t fr) Tj ET Q q 0 0 0 rg BT 204.26 350.20 Td (om the e) Tj ET Q q 0 0 0 rg BT 240.45 350.20 Td (xpiring leases f) Tj ET Q q 0 0 0 rg BT 300.29 350.20 Td (or the r) Tj ET Q q 0 0 0 rg BT 330.51 350.20 Td (emainder of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 382.37 350.20 Td (2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 402.65 350.20 Td ( f) Tj ET Q q 0 0 0 rg BT 407.75 350.20 Td (or the t) Tj ET Q q 0 0 0 rg BT 437.86 350.20 Td (ot) Tj ET Q q 0 0 0 rg BT 446.36 350.20 Td (al shopping cen) Tj ET Q q 0 0 0 rg BT 509.54 350.20 Td (tr) Tj ET Q q 0 0 0 rg BT 516.24 350.20 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 338.20 Td (portf) Tj ET Q q 0 0 0 rg BT 74.21 338.20 Td (olio.) Tj ET Q endstream endobj 65 0 obj <> endobj 66 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 58 m 77.5 58 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 58 m 531.5 58 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 58 m 558.5 58 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 48.00 Td (31) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 48.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 693.00 Td (T) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 58.90 693.00 Td (op F) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 79.87 693.00 Td (orty T) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 108.05 693.00 Td (enan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 132.78 693.00 Td (ts) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 678.00 Td (As a) Tj ET Q q 0 0 0 rg BT 70.66 678.00 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 76.27 678.00 Td (Mar) Tj ET Q q 0 0 0 rg BT 92.95 678.00 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 139.85 678.00 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 144.61 678.00 Td (54.7%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.49 678.00 Td ( of the Compan) Tj ET Q q 0 0 0 rg BT 231.88 678.00 Td (y) Tj ET Q q 0 0 0 rg BT 236.71 678.00 Td () Tj ET Q q 0 0 0 rg BT 238.59 678.00 Td (s annualiz) Tj ET Q q 0 0 0 rg BT 278.42 678.00 Td (ed minimum r) Tj ET Q q 0 0 0 rg BT 335.59 678.00 Td (en) Tj ET Q q 0 0 0 rg BT 345.73 678.00 Td (t c) Tj ET Q q 0 0 0 rg BT 355.48 678.00 Td (ame fr) Tj ET Q q 0 0 0 rg BT 381.88 678.00 Td (om its t) Tj ET Q q 0 0 0 rg BT 412.47 678.00 Td (op 40 t) Tj ET Q q 0 0 0 rg BT 440.89 678.00 Td (enan) Tj ET Q q 0 0 0 rg BT 461.08 678.00 Td (ts \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 473.63 678.00 Td (December31, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 666.00 Td (2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.27 666.00 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 83.78 666.00 Td (55.1%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.65 666.00 Td (\). Of these r) Tj ET Q q 0 0 0 rg BT 156.49 666.00 Td (en) Tj ET Q q 0 0 0 rg BT 166.62 666.00 Td (ts, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.64 666.00 Td (77.9%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 203.52 666.00 Td ( c) Tj ET Q q 0 0 0 rg BT 209.92 666.00 Td (ame fr) Tj ET Q q 0 0 0 rg BT 236.31 666.00 Td (om t) Tj ET Q q 0 0 0 rg BT 255.08 666.00 Td (enan) Tj ET Q q 0 0 0 rg BT 275.26 666.00 Td (ts tha) Tj ET Q q 0 0 0 rg BT 298.08 666.00 Td (t ha) Tj ET Q q 0 0 0 rg BT 313.57 666.00 Td (v) Tj ET Q q 0 0 0 rg BT 317.99 666.00 Td (e in) Tj ET Q q 0 0 0 rg BT 332.61 666.00 Td (v) Tj ET Q q 0 0 0 rg BT 337.03 666.00 Td (es) Tj ET Q q 0 0 0 rg BT 345.80 666.00 Td (tmen) Tj ET Q q 0 0 0 rg BT 367.28 666.00 Td (t gr) Tj ET Q q 0 0 0 rg BT 380.88 666.00 Td (ade cr) Tj ET Q q 0 0 0 rg BT 405.74 666.00 Td (edit r) Tj ET Q q 0 0 0 rg BT 427.15 666.00 Td (a) Tj ET Q q 0 0 0 rg BT 431.85 666.00 Td (tings and who r) Tj ET Q q 0 0 0 rg BT 494.48 666.00 Td (epr) Tj ET Q q 0 0 0 rg BT 508.06 666.00 Td (esen) Tj ET Q q 0 0 0 rg BT 527.09 666.00 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 654.00 Td (man) Tj ET Q q 0 0 0 rg BT 71.85 654.00 Td (y of Canada) Tj ET Q q 0 0 0 rg BT 121.31 654.00 Td (s leading supermark) Tj ET Q q 0 0 0 rg BT 202.69 654.00 Td (e) Tj ET Q q 0 0 0 rg BT 207.61 654.00 Td (t oper) Tj ET Q q 0 0 0 rg BT 232.00 654.00 Td (a) Tj ET Q q 0 0 0 rg BT 236.70 654.00 Td (t) Tj ET Q q 0 0 0 rg BT 239.95 654.00 Td (or) Tj ET Q q 0 0 0 rg BT 248.54 654.00 Td (s, drugs) Tj ET Q q 0 0 0 rg BT 279.71 654.00 Td (t) Tj ET Q q 0 0 0 rg BT 282.96 654.00 Td (or) Tj ET Q q 0 0 0 rg BT 291.59 654.00 Td (e chains, na) Tj ET Q q 0 0 0 rg BT 339.26 654.00 Td (tional and disc) Tj ET Q q 0 0 0 rg BT 397.95 654.00 Td (oun) Tj ET Q q 0 0 0 rg BT 413.63 654.00 Td (t r) Tj ET Q q 0 0 0 rg BT 422.60 654.00 Td (e) Tj ET Q q 0 0 0 rg BT 427.52 654.00 Td (t) Tj ET Q q 0 0 0 rg BT 430.75 654.00 Td (ailer) Tj ET Q q 0 0 0 rg BT 448.42 654.00 Td (s, bank) Tj ET Q q 0 0 0 rg BT 476.84 654.00 Td (s and other ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 642.00 Td (f) Tj ET Q q 0 0 0 rg BT 56.86 642.00 Td (amiliar shopping des) Tj ET Q q 0 0 0 rg BT 140.55 642.00 Td (tina) Tj ET Q q 0 0 0 rg BT 156.14 642.00 Td (tions. The w) Tj ET Q q 0 0 0 rg BT 205.44 642.00 Td (eigh) Tj ET Q q 0 0 0 rg BT 222.57 642.00 Td (t) Tj ET Q q 0 0 0 rg BT 225.82 642.00 Td (ed a) Tj ET Q q 0 0 0 rg BT 242.93 642.00 Td (v) Tj ET Q q 0 0 0 rg BT 247.35 642.00 Td (er) Tj ET Q q 0 0 0 rg BT 255.61 642.00 Td (ag) Tj ET Q q 0 0 0 rg BT 265.02 642.00 Td (e lease t) Tj ET Q q 0 0 0 rg BT 298.71 642.00 Td (erm f) Tj ET Q q 0 0 0 rg BT 320.26 642.00 Td (or the Compan) Tj ET Q q 0 0 0 rg BT 380.83 642.00 Td (y) Tj ET Q q 0 0 0 rg BT 385.66 642.00 Td () Tj ET Q q 0 0 0 rg BT 387.54 642.00 Td (s t) Tj ET Q q 0 0 0 rg BT 396.96 642.00 Td (op 10 t) Tj ET Q q 0 0 0 rg BT 425.39 642.00 Td (enan) Tj ET Q q 0 0 0 rg BT 445.57 642.00 Td (ts is ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.56 642.00 Td (6.6) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 476.22 642.00 Td ( y) Tj ET Q q 0 0 0 rg BT 482.89 642.00 Td (ear) Tj ET Q q 0 0 0 rg BT 495.97 642.00 Td (s as a) Tj ET Q q 0 0 0 rg BT 517.80 642.00 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 630.00 Td (Mar) Tj ET Q q 0 0 0 rg BT 70.68 630.00 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 117.59 630.00 Td (, e) Tj ET Q q 0 0 0 rg BT 127.17 630.00 Td (x) Tj ET Q q 0 0 0 rg BT 131.28 630.00 Td (cluding c) Tj ET Q q 0 0 0 rg BT 166.97 630.00 Td (on) Tj ET Q q 0 0 0 rg BT 177.40 630.00 Td (tr) Tj ET Q q 0 0 0 rg BT 184.03 630.00 Td (actual r) Tj ET Q q 0 0 0 rg BT 214.36 630.00 Td (ene) Tj ET Q q 0 0 0 rg BT 229.51 630.00 Td (w) Tj ET Q q 0 0 0 rg BT 236.55 630.00 Td (al op) Tj ET Q q 0 0 0 rg BT 256.38 630.00 Td (tions.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 619.5 m 74.5 619.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 594.5 m 74.5 594.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 619.5 m 232.5 619.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 74.5 594.5 m 232.5 594.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 619.5 m 272.5 619.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 232.5 594.5 m 272.5 594.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 619.5 m 323.5 619.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 272.5 594.5 m 323.5 594.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 619.5 m 372.5 619.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 323.5 594.5 m 372.5 594.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 619.5 m 423.5 619.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 372.5 594.5 m 423.5 594.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 619.5 m 468.5 619.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423.5 594.5 m 468.5 594.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 619.5 m 513.5 619.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468.5 594.5 m 513.5 594.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 619.5 m 558.5 619.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 513.5 594.5 m 558.5 594.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 74.5 474.5 m 232.5 474.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 474.5 m 74.5 474.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 462.5 m 74.5 462.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 74.5 474.5 m 232.5 474.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 74.5 462.5 m 232.5 462.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 232.5 474.5 m 272.5 474.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 232.5 462.5 m 272.5 462.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 272.5 474.5 m 323.5 474.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 272.5 462.5 m 323.5 462.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 323.5 474.5 m 372.5 474.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 323.5 462.5 m 372.5 462.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 372.5 474.5 m 423.5 474.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 372.5 462.5 m 423.5 462.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423.5 474.5 m 468.5 474.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423.5 462.5 m 468.5 462.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468.5 474.5 m 513.5 474.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468.5 462.5 m 513.5 462.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 513.5 474.5 m 558.5 474.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 513.5 462.5 m 558.5 462.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 74.5 462.5 m 232.5 462.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 74.5 102.5 m 232.5 102.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 102.5 m 74.5 102.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 87.5 m 74.5 87.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 74.5 102.5 m 232.5 102.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 74.5 87.5 m 232.5 87.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 232.5 102.5 m 272.5 102.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 87.5 m 272.5 87.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 272.5 102.5 m 323.5 102.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 87.5 m 323.5 87.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 323.5 102.5 m 372.5 102.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 87.5 m 372.5 87.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 372.5 102.5 m 423.5 102.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 87.5 m 423.5 87.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423.5 102.5 m 468.5 102.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 87.5 m 468.5 87.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468.5 102.5 m 513.5 102.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 87.5 m 513.5 87.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 513.5 102.5 m 558.5 102.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 87.5 m 558.5 87.5 l s BT /F3 7.00 Tf ET q 0 0 0 rg BT 81.00 598.75 Td (T) Tj ET Q q 0 0 0 rg BT 83.79 598.75 Td (enan) Tj ET Q q 0 0 0 rg BT 97.92 598.75 Td (t ) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 101.84 602.09 Td (\(1\) \(2\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 245.60 605.75 Td (Number) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 242.25 598.75 Td ( of St) Tj ET Q q 0 0 0 rg BT 256.74 598.75 Td (or) Tj ET Q q 0 0 0 rg BT 262.77 598.75 Td (es) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 286.25 605.75 Td (Squar) Tj ET Q q 0 0 0 rg BT 302.52 605.75 Td (e F) Tj ET Q q 0 0 0 rg BT 310.70 605.75 Td (ee) Tj ET Q q 0 0 0 rg BT 317.63 605.75 Td (t) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 286.15 598.75 Td (\(thousands\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 332.90 611.75 Td (Percent of) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 331.90 604.75 Td (Total Gross) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 327.75 597.75 Td (Leasable Area) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 375.30 611.75 Td (Percent of Total) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 381.75 604.75 Td (Annualized) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 376.25 597.75 Td (Minimum Rent) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 428.55 605.75 Td (DBRS Credit) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 436.45 598.75 Td (Rating) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 475.30 605.75 Td (S&P Credit) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 481.45 598.75 Td (Rating) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 523.25 605.75 Td (Moodys) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 517.10 598.75 Td (Credit Rating) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 61.70 585.25 Td (1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 585.25 Td (Loblaw Companies Limited \(Loblaw\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 585.25 Td (96) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 299.65 585.25 Td (2,376) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 585.25 Td (9.8%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 585.25 Td (9.9%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.15 585.25 Td (BBB) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.15 585.25 Td (BBB) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 61.70 573.25 Td (2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 573.25 Td (Sobeys) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 573.25 Td (56) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 299.65 573.25 Td (1,969) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 573.25 Td (8.1%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 573.25 Td (6.7%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 427.80 573.25 Td (BBB \(low\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.75 573.25 Td (BBB-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 61.70 561.25 Td (3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 561.25 Td (Metro) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 561.25 Td (34) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 299.65 561.25 Td (1,217) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 561.25 Td (5.0%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 561.25 Td (3.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.15 561.25 Td (BBB) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.15 561.25 Td (BBB) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 61.70 549.25 Td (4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 549.25 Td (Canadian Tire) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 549.25 Td (26) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 549.25 Td (917) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 549.25 Td (3.8%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 549.25 Td (3.1%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 426.50 549.25 Td (BBB \(high\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 480.90 549.25 Td (BBB+) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 61.70 537.25 Td (5) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 537.25 Td (Walmart) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 537.25 Td (15) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 299.65 537.25 Td (1,481) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 537.25 Td (6.1%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 537.25 Td (3.0%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 440.25 537.25 Td (AA) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.25 537.25 Td (AA) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.45 537.25 Td (Aa2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 61.70 525.25 Td (6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 525.25 Td (TD Canada Trust) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 525.25 Td (45) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 525.25 Td (242) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 525.25 Td (1.0%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 525.25 Td (2.1%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 440.25 525.25 Td (AA) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.90 525.25 Td (AA-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.45 525.25 Td (Aa1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 61.70 513.25 Td (7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 513.25 Td (RBC Royal Bank) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 513.25 Td (46) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 513.25 Td (256) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 513.25 Td (1.1%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 513.25 Td (2.0%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 440.25 513.25 Td (AA) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.90 513.25 Td (AA-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.45 513.25 Td (Aa3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 61.70 501.25 Td (8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 501.25 Td (Dollarama) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 501.25 Td (47) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 501.25 Td (455) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 501.25 Td (1.9%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 501.25 Td (1.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.15 501.25 Td (BBB) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 61.70 489.25 Td (9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 489.25 Td (CIBC) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 489.25 Td (36) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 489.25 Td (202) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 489.25 Td (0.8%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 489.25 Td (1.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 440.25 489.25 Td (AA) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.65 489.25 Td (A+) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.45 489.25 Td (Aa3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 477.25 Td (10) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 477.25 Td (GoodLife Fitness) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 477.25 Td (19) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 477.25 Td (429) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 477.25 Td (1.8%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 477.25 Td (1.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 465.25 Td (Top 10 Tenants Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 255.45 465.25 Td (420) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 299.65 465.25 Td (9,544) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 336.30 465.25 Td (39.4%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 386.30 465.25 Td (35.0%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 453.25 Td (11) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 453.25 Td (Rona) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 264.55 453.25 Td (4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 453.25 Td (421) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 453.25 Td (1.7%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 453.25 Td (1.4%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 428.95 453.25 Td (BB \(high\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.35 453.25 Td (BB+) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 441.25 Td (12) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 441.25 Td (LCBO) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 441.25 Td (21) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 441.25 Td (218) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 441.25 Td (0.9%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 441.25 Td (1.3%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.90 441.25 Td (AA \(low\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.90 441.25 Td (AA-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.45 441.25 Td (Aa2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 429.25 Td (13) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 429.25 Td (Rexall) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 429.25 Td (19) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 429.25 Td (168) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 429.25 Td (0.7%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 429.25 Td (1.1%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 417.25 Td (14) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 417.25 Td (BMO) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 417.25 Td (30) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 417.25 Td (134) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 417.25 Td (0.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 417.25 Td (1.1%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 440.25 417.25 Td (AA) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.65 417.25 Td (A+) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.45 417.25 Td (Aa3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 405.25 Td (15) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 405.25 Td (London Drugs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 264.55 405.25 Td (9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 405.25 Td (231) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 405.25 Td (1.0%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 405.25 Td (1.0%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 393.25 Td (16) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 393.25 Td (Staples) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 393.25 Td (11) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 393.25 Td (254) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 393.25 Td (1.1%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 393.25 Td (0.9%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.75 393.25 Td (BBB-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 393.25 Td (Baa2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 381.25 Td (17) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 381.25 Td (Restaurant Brands International) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 381.25 Td (51) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 381.25 Td (136) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 381.25 Td (0.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 381.25 Td (0.9%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 430.25 381.25 Td (BB \(low\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 369.25 Td (18) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 369.25 Td (Scotiabank) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 369.25 Td (22) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 369.25 Td (121) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 369.25 Td (0.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 369.25 Td (0.9%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 440.25 369.25 Td (AA) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.65 369.25 Td (A+) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.45 369.25 Td (Aa2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 357.25 Td (19) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 357.25 Td (Save-On-Foods) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 264.55 357.25 Td (6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 357.25 Td (267) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 357.25 Td (1.1%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 357.25 Td (0.9%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 345.25 Td (20) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 345.25 Td (Longos) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 264.55 345.25 Td (4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 345.25 Td (170) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 345.25 Td (0.7%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 345.25 Td (0.8%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 333.25 Td (21) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 333.25 Td (Starbucks) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 333.25 Td (44) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.00 333.25 Td (71) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 333.25 Td (0.3%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 333.25 Td (0.7%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 486.55 333.25 Td (A-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.60 333.25 Td (A3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 321.25 Td (22) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 321.25 Td (Jean Coutu) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 321.25 Td (12) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 321.25 Td (155) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 321.25 Td (0.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 321.25 Td (0.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 309.25 Td (23) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 309.25 Td (Subway) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 309.25 Td (71) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.00 309.25 Td (84) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 309.25 Td (0.3%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 309.25 Td (0.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 297.25 Td (24) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 297.25 Td (Cara) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 297.25 Td (21) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.00 297.25 Td (94) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 297.25 Td (0.4%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 297.25 Td (0.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 285.25 Td (25) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 285.25 Td (TOYS R US) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 264.55 285.25 Td (4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 285.25 Td (156) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 285.25 Td (0.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 285.25 Td (0.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 486.65 285.25 Td (B-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.75 285.25 Td (B3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 273.25 Td (26) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 273.25 Td (Best Buy) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 264.55 273.25 Td (5) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 273.25 Td (140) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 273.25 Td (0.6%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 273.25 Td (0.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.60 273.25 Td (BB) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 273.25 Td (Baa2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 261.25 Td (27) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 261.25 Td (Whole Foods Market) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 264.55 261.25 Td (2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.00 261.25 Td (90) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 261.25 Td (0.4%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 261.25 Td (0.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.75 261.25 Td (BBB-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 249.25 Td (28) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 249.25 Td (Michaels) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 264.55 249.25 Td (5) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 249.25 Td (110) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 249.25 Td (0.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 249.25 Td (0.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.80 249.25 Td (B+) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.75 249.25 Td (B3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 237.25 Td (29) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 237.25 Td (SAQ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 237.25 Td (20) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.00 237.25 Td (88) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 237.25 Td (0.4%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 237.25 Td (0.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.25 237.25 Td (A \(high\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.65 237.25 Td (A+) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.45 237.25 Td (Aa2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 225.25 Td (30) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 225.25 Td (Reitmans) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 225.25 Td (26) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 225.25 Td (132) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 225.25 Td (0.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 225.25 Td (0.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 213.25 Td (31) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 213.25 Td (Yum! 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189.25 Td (Target) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 264.55 189.25 Td (2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 189.25 Td (246) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 189.25 Td (1.0%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 189.25 Td (0.5%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 487.85 189.25 Td (A) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.60 189.25 Td (A2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 177.25 Td (34) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 177.25 Td (Winners) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 264.55 177.25 Td (6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 177.25 Td (194) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 177.25 Td (0.8%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 177.25 Td (0.4%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.65 177.25 Td (A+) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.60 177.25 Td (A3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 165.25 Td (35) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 165.25 Td (The Beer Store) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 165.25 Td (11) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.00 165.25 Td (66) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 165.25 Td (0.3%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 165.25 Td (0.4%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.90 165.25 Td (AA \(low\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.90 165.25 Td (AA-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.45 165.25 Td (Aa2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 153.25 Td (36) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 153.25 Td (The Home Depot) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 264.55 153.25 Td (2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.45 153.25 Td (219) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 153.25 Td (0.9%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 153.25 Td (0.4%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 442.85 153.25 Td (A) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 487.85 153.25 Td (A) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.60 153.25 Td (A2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 141.25 Td (37) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 141.25 Td (Pet Valu) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 141.25 Td (21) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.00 141.25 Td (57) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 141.25 Td (0.2%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 141.25 Td (0.3%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 129.25 Td (38) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 129.25 Td (Liquor Stores) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 129.25 Td (14) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.00 129.25 Td (54) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 129.25 Td (0.2%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 129.25 Td (0.3%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 117.25 Td (39) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 117.25 Td (Bulk Barn) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 117.25 Td (12) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.00 117.25 Td (58) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 117.25 Td (0.2%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 117.25 Td (0.3%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.40 105.25 Td (40) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 82.00 105.25 Td (Uniprix) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 264.55 105.25 Td (6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.00 105.25 Td (68) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.55 105.25 Td (0.3%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 105.25 Td (0.3%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 92.25 Td (Top 40 Tenants Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 255.45 92.25 Td (931) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 295.00 92.25 Td (13,888) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 336.15 92.25 Td (57.3%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 386.15 92.25 Td (54.7%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 79.94 Td (\(1\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 76.60 Td (The names not) Tj ET Q q 0 0 0 rg BT 105.22 76.60 Td (ed abo) Tj ET Q q 0 0 0 rg BT 124.65 76.60 Td (v) Tj ET Q q 0 0 0 rg BT 127.75 76.60 Td (e ma) Tj ET Q q 0 0 0 rg BT 141.63 76.60 Td (y be the names of the par) Tj ET Q q 0 0 0 rg BT 214.51 76.60 Td (en) Tj ET Q q 0 0 0 rg BT 221.61 76.60 Td (t en) Tj ET Q q 0 0 0 rg BT 232.63 76.60 Td (tities and ar) Tj ET Q q 0 0 0 rg BT 266.33 76.60 Td (e not necessarily the c) Tj ET Q q 0 0 0 rg BT 329.52 76.60 Td (o) Tj ET Q q 0 0 0 rg BT 333.18 76.60 Td (v) Tj ET Q q 0 0 0 rg BT 336.27 76.60 Td (enan) Tj ET Q q 0 0 0 rg BT 350.40 76.60 Td (ts under the leases.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 68.54 Td (\(2\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 65.20 Td (T) Tj ET Q q 0 0 0 rg BT 65.79 65.20 Td (enan) Tj ET Q q 0 0 0 rg BT 79.92 65.20 Td (ts not) Tj ET Q q 0 0 0 rg BT 96.22 65.20 Td (ed abo) Tj ET Q q 0 0 0 rg BT 115.65 65.20 Td (v) Tj ET Q q 0 0 0 rg BT 118.75 65.20 Td (e include all banner) Tj ET Q q 0 0 0 rg BT 174.42 65.20 Td (s of the r) Tj ET Q q 0 0 0 rg BT 199.59 65.20 Td (espectiv) Tj ET Q q 0 0 0 rg BT 222.97 65.20 Td (e r) Tj ET Q q 0 0 0 rg BT 230.39 65.20 Td (e) Tj ET Q q 0 0 0 rg BT 233.83 65.20 Td (t) Tj ET Q q 0 0 0 rg BT 236.09 65.20 Td (ailer) Tj ET Q q 0 0 0 rg BT 247.88 65.20 Td (.) 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[] 0 d 0 J 0 j 3 M 54.5 535.5 m 394.5 535.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394.5 535.5 m 414.5 535.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 414.5 535.5 m 476.5 535.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 476.5 535.5 m 496.5 535.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 535.5 m 558.5 535.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 520.5 m 394.5 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 520.5 m 414.5 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 520.5 m 476.5 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 520.5 m 496.5 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 520.5 m 558.5 520.5 l s BT /F4 9.00 Tf ET q 0 0 0 rg BT 57.00 672.25 Td (As at \(thousands of dollars\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 415.25 672.25 Td (March 31, 2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.45 672.25 Td (December 31, 2014) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 658.25 Td (Non-current) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 645.25 Td (Loans and mortgages receivable \(a\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 417.00 645.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 443.45 645.25 Td (100,710) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 499.00 645.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 645.25 Td (92,132) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 632.25 Td (Fair value through profit or loss \(FVTPL\) investment in limited partnership) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.55 632.25 Td (4,178) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 632.25 Td (4,099) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 619.25 Td (Total non-current) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 417.00 619.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 443.45 619.25 Td (104,888) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 499.00 619.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 619.25 Td (96,231) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 606.25 Td (Current) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 593.25 Td (FVTPL investments in equity securities \(b\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 417.00 593.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 448.00 593.25 Td (12,783) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 499.00 593.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 593.25 Td (33,370) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 580.25 Td (Available-for-sale \("AFS"\) investments in equity securities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.45 580.25 Td (161) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 580.25 Td (292) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 567.25 Td (Loans and mortgages receivable \(a\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 448.00 567.25 Td (58,103) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 567.25 Td (46,067) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 554.25 Td (Other receivable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.45 554.25 Td (250) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 554.25 Td (249) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 540.25 Td (Total current) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 417.00 540.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 448.00 540.25 Td (71,297) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 499.00 540.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 540.25 Td (79,978) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 525.25 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 417.00 525.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 443.45 525.25 Td (176,185) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 499.00 525.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.60 525.25 Td (176,209) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 503.00 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 67.50 503.00 Td (Loans and mortg) Tj ET Q q 0 0 0 rg BT 135.37 503.00 Td (ag) Tj ET Q q 0 0 0 rg BT 144.79 503.00 Td (es r) Tj ET Q q 0 0 0 rg BT 159.29 503.00 Td (eceiv) Tj ET Q q 0 0 0 rg BT 180.13 503.00 Td (able ar) Tj ET Q q 0 0 0 rg BT 207.85 503.00 Td (e primarily secur) Tj ET Q q 0 0 0 rg BT 275.49 503.00 Td (ed b) Tj ET Q q 0 0 0 rg BT 293.18 503.00 Td (y in) Tj ET Q q 0 0 0 rg BT 307.43 503.00 Td (t) Tj ET Q q 0 0 0 rg BT 310.67 503.00 Td (er) Tj ET Q q 0 0 0 rg BT 319.00 503.00 Td (es) Tj ET Q q 0 0 0 rg BT 327.77 503.00 Td (ts in in) Tj ET Q q 0 0 0 rg BT 354.49 503.00 Td (v) Tj ET Q q 0 0 0 rg BT 358.91 503.00 Td (es) Tj ET Q q 0 0 0 rg BT 367.68 503.00 Td (tmen) Tj ET Q q 0 0 0 rg BT 389.16 503.00 Td (t pr) Tj ET Q q 0 0 0 rg BT 403.34 503.00 Td (operties or shar) Tj ET Q q 0 0 0 rg BT 467.46 503.00 Td (es of en) Tj ET Q q 0 0 0 rg BT 499.33 503.00 Td (tities ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 491.00 Td (o) Tj ET Q q 0 0 0 rg BT 72.73 491.00 Td (wning in) Tj ET Q q 0 0 0 rg BT 107.04 491.00 Td (v) Tj ET Q q 0 0 0 rg BT 111.46 491.00 Td (es) Tj ET Q q 0 0 0 rg BT 120.23 491.00 Td (tmen) Tj ET Q q 0 0 0 rg BT 141.70 491.00 Td (t pr) Tj ET Q q 0 0 0 rg BT 155.89 491.00 Td (operties. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 470.00 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 67.50 470.00 Td (The Compan) Tj ET Q q 0 0 0 rg BT 118.57 470.00 Td (y in) Tj ET Q q 0 0 0 rg BT 132.74 470.00 Td (v) Tj ET Q q 0 0 0 rg BT 137.16 470.00 Td (es) Tj ET Q q 0 0 0 rg BT 145.93 470.00 Td (ts fr) Tj ET Q q 0 0 0 rg BT 161.83 470.00 Td (om time t) Tj ET Q q 0 0 0 rg BT 201.47 470.00 Td (o time in publicly tr) Tj ET Q q 0 0 0 rg BT 279.98 470.00 Td (aded r) Tj ET Q q 0 0 0 rg BT 305.87 470.00 Td (eal es) Tj ET Q q 0 0 0 rg BT 328.96 470.00 Td (t) Tj ET Q q 0 0 0 rg BT 332.19 470.00 Td (a) Tj ET Q q 0 0 0 rg BT 336.89 470.00 Td (t) Tj ET Q q 0 0 0 rg BT 340.13 470.00 Td (e and r) Tj ET Q q 0 0 0 rg BT 368.28 470.00 Td (ela) Tj ET Q q 0 0 0 rg BT 380.25 470.00 Td (t) Tj ET Q q 0 0 0 rg BT 383.49 470.00 Td (ed securities. These securities ar) Tj ET Q q 0 0 0 rg BT 514.79 470.00 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 458.00 Td (r) Tj ET Q q 0 0 0 rg BT 70.85 458.00 Td (ec) Tj ET Q q 0 0 0 rg BT 79.98 458.00 Td (or) Tj ET Q q 0 0 0 rg BT 88.60 458.00 Td (ded a) Tj ET Q q 0 0 0 rg BT 111.04 458.00 Td (t mark) Tj ET Q q 0 0 0 rg BT 137.14 458.00 Td (e) Tj ET Q q 0 0 0 rg BT 142.06 458.00 Td (t v) Tj ET Q q 0 0 0 rg BT 152.04 458.00 Td (alue. R) Tj ET Q q 0 0 0 rg BT 179.39 458.00 Td (ealiz) Tj ET Q q 0 0 0 rg BT 197.48 458.00 Td (ed and unr) Tj ET Q q 0 0 0 rg BT 241.39 458.00 Td (ealiz) Tj ET Q q 0 0 0 rg BT 259.47 458.00 Td (ed g) Tj ET Q q 0 0 0 rg BT 276.48 458.00 Td (ains and losses on FVTPL securities ar) Tj ET Q q 0 0 0 rg BT 427.73 458.00 Td (e r) Tj ET Q q 0 0 0 rg BT 438.33 458.00 Td (ec) Tj ET Q q 0 0 0 rg BT 447.45 458.00 Td (or) Tj ET Q q 0 0 0 rg BT 456.07 458.00 Td (ded in other g) Tj ET Q q 0 0 0 rg BT 512.74 458.00 Td (ains ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 446.00 Td (\(losses\) and \(e) Tj ET Q q 0 0 0 rg BT 125.52 446.00 Td (xpenses\). ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 428.00 Td (Scheduled principal r) Tj ET Q q 0 0 0 rg BT 152.61 428.00 Td (eceip) Tj ET Q q 0 0 0 rg BT 174.30 428.00 Td (ts of loans and mortg) Tj ET Q q 0 0 0 rg BT 260.37 428.00 Td (ag) Tj ET Q q 0 0 0 rg BT 269.78 428.00 Td (es r) Tj ET Q q 0 0 0 rg BT 284.28 428.00 Td (eceiv) Tj ET Q q 0 0 0 rg BT 305.13 428.00 Td (able as a) Tj ET Q q 0 0 0 rg BT 340.36 428.00 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 345.97 428.00 Td (Mar) Tj ET Q q 0 0 0 rg BT 362.65 428.00 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 409.56 428.00 Td ( ar) Tj ET Q q 0 0 0 rg BT 419.97 428.00 Td (e as f) Tj ET Q q 0 0 0 rg BT 441.01 428.00 Td (ollo) Tj ET Q q 0 0 0 rg BT 456.10 428.00 Td (w) Tj ET Q q 0 0 0 rg BT 463.16 428.00 Td (s:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 68 417.5 m 284 417.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 68 372.5 m 284 372.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 417.5 m 339 417.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284 372.5 m 339 372.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 417.5 m 394 417.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339 372.5 m 394 372.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 417.5 m 449 417.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394 372.5 m 449 372.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 417.5 m 504 417.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 372.5 m 504 372.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 417.5 m 559 417.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504 372.5 m 559 372.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284 372.5 m 339 372.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339 372.5 m 394 372.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 372.5 m 504 372.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504 372.5 m 559 372.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284 294.5 m 339 294.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339 294.5 m 394 294.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 68 294.5 m 284 294.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 68 281.5 m 284 281.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284 294.5 m 339 294.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284 281.5 m 339 281.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339 294.5 m 394 294.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339 281.5 m 394 281.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394 294.5 m 449 294.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394 281.5 m 449 281.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 294.5 m 504 294.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 281.5 m 504 281.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504 294.5 m 559 294.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504 281.5 m 559 281.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284 281.5 m 339 281.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284 268.5 m 339 268.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339 281.5 m 394 281.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339 268.5 m 394 268.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394 281.5 m 449 281.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394 268.5 m 449 268.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 281.5 m 504 281.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 268.5 m 504 268.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504 281.5 m 559 281.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504 268.5 m 559 268.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 68 268.5 m 284 268.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 68 253.5 m 284 253.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284 268.5 m 339 268.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 253.5 m 339 253.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339 268.5 m 394 268.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 253.5 m 394 253.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394 268.5 m 449 268.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 253.5 m 449 253.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 268.5 m 504 268.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 253.5 m 504 253.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504 268.5 m 559 268.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 253.5 m 559 253.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 68 253.5 m 284 253.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 253.5 m 339 253.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 253.5 m 394 253.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 253.5 m 449 253.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 253.5 m 504 253.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 253.5 m 559 253.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 68 227.5 m 284 227.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284 227.5 m 339 227.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339 227.5 m 394 227.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394 227.5 m 449 227.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 227.5 m 504 227.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504 227.5 m 559 227.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 68 212.5 m 284 212.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 212.5 m 339 212.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 212.5 m 394 212.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394 227.5 m 449 227.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 212.5 m 449 212.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 227.5 m 504 227.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 212.5 m 504 212.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504 227.5 m 559 227.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 212.5 m 559 212.5 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 70.50 377.00 Td (\(thousands of dollars, except other data\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 301.80 385.00 Td (Scheduled) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 293.20 377.00 Td (Amortiz) Tj ET Q q 0 0 0 rg BT 318.77 377.00 Td (a) Tj ET Q q 0 0 0 rg BT 322.53 377.00 Td (tion) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 348.65 385.00 Td (P) Tj ET Q q 0 0 0 rg BT 352.61 385.00 Td (a) Tj ET Q q 0 0 0 rg BT 356.29 385.00 Td (ymen) Tj ET Q q 0 0 0 rg BT 374.42 385.00 Td (ts on) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 362.05 377.00 Td (Ma) Tj ET Q q 0 0 0 rg BT 372.65 377.00 Td (turity) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 429.80 377.00 Td (Total) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 469.15 393.00 Td (Weighted) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 474.35 385.00 Td (Average) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 458.70 377.00 Td (Coupon Rate) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 524.15 401.00 Td (Weighted) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 529.35 393.00 Td (Average) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 527.80 385.00 Td (Effective) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 513.90 377.00 Td (Interest Rate) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.50 362.25 Td (2015 \(remainder of the year\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 286.50 363.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 322.05 363.25 Td (539) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 341.50 363.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 365.65 363.25 Td (54,822) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 396.50 363.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.65 363.25 Td (55,361) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.05 363.25 Td (7.92) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.05 363.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.05 363.25 Td (7.92) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.05 363.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.50 349.25 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 322.05 350.25 Td (206) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 370.25 350.25 Td (9,467) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.25 350.25 Td (9,673) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.05 350.25 Td (8.80) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.05 350.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.05 350.25 Td (9.01) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.05 350.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.50 336.25 Td (2017) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 322.05 337.25 Td (217) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 370.25 337.25 Td (5,772) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.25 337.25 Td (5,989) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.05 337.25 Td (5.96) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.05 337.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.05 337.25 Td (5.96) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.05 337.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.50 323.25 Td (2018) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 322.05 324.25 Td (229) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 382.60 324.25 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 432.05 324.25 Td (229) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 488.90 324.25 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.05 324.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.90 324.25 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.05 324.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.50 310.25 Td (2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 322.05 311.25 Td (184) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 365.65 311.25 Td (38,102) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.65 311.25 Td (38,286) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.05 311.25 Td (6.13) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.05 311.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.05 311.25 Td (5.96) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.05 311.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.50 297.25 Td (2020 to 2025) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 322.05 298.25 Td (509) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 365.65 298.25 Td (47,189) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.65 298.25 Td (47,698) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.05 298.25 Td (5.50) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.05 298.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.05 298.25 Td (5.50) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.05 298.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 286.50 285.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 315.25 285.25 Td (1,884) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 341.50 285.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 361.10 285.25 Td (155,352) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 396.50 285.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 416.10 285.25 Td (157,236) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.05 285.25 Td (6.72) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.05 285.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.05 285.25 Td (6.70) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.05 285.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 70.50 271.25 Td (Unamortized deferred financing fees, net) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.25 272.25 Td (1,577) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 396.50 259.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 416.10 259.25 Td (158,813) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.50 243.25 Td (Current) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 396.50 244.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.65 244.25 Td (58,103) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.05 244.25 Td (8.01) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.05 244.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.05 244.25 Td (8.01) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.05 244.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.50 230.25 Td (Non-current) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 416.10 231.25 Td (100,710) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.05 231.25 Td (5.97) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.05 231.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.05 231.25 Td (5.93) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.05 231.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 396.50 218.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 416.10 218.25 Td (158,813) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.05 217.25 Td (6.72) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.05 217.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.05 217.25 Td (6.70) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.05 217.25 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 69 0 obj <> endobj 70 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (33) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 691.50 Td (RE) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 68.57 691.50 Td (SUL) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 89.23 691.50 Td (T) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 96.09 691.50 Td (S OF OPERA) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 163.95 691.50 Td (TIONS) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 672.30 Td (Ne) Tj ET Q q 0 0 0 rg BT 66.71 672.30 Td (t Inc) Tj ET Q q 0 0 0 rg BT 86.39 672.30 Td (ome) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 661.8 m 423.5 661.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 661.8 m 481.5 661.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423.5 647.8 m 481.5 647.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 661.8 m 501.5 661.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 481.5 647.8 m 501.5 647.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 661.8 m 558.5 661.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501.5 647.8 m 558.5 647.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 647.8 m 423.5 647.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 633.8 m 423.5 633.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423.5 647.8 m 481.5 647.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423.5 633.8 m 481.5 633.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 481.5 647.8 m 501.5 647.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 481.5 633.8 m 501.5 633.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501.5 647.8 m 558.5 647.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501.5 633.8 m 558.5 633.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 591.8 m 423.5 591.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 591.8 m 481.5 591.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 591.8 m 501.5 591.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 591.8 m 558.5 591.8 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 442.10 652.55 Td (Three months ended March 31) Tj ET Q BT /F4 8.50 Tf ET q 0 0 0 rg BT 57.00 638.92 Td (\(thousands of dollars, except share and per share amounts\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 460.75 638.42 Td (2015) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 537.75 638.42 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 624.55 Td (Net income attributable to common shareholders) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 426.00 624.55 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 453.00 624.55 Td (45,901) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 504.00 624.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 624.55 Td (35,214) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 610.55 Td (Net income per share attributable to common shareholders \(diluted\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 426.00 610.55 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 462.05 610.55 Td (0.21) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 504.00 610.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 539.25 610.55 Td (0.17) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 596.55 Td (W) Tj ET Q q 0 0 0 rg BT 64.68 596.55 Td (eigh) Tj ET Q q 0 0 0 rg BT 80.10 596.55 Td (t) Tj ET Q q 0 0 0 rg BT 83.02 596.55 Td (ed a) Tj ET Q q 0 0 0 rg BT 98.42 596.55 Td (v) Tj ET Q q 0 0 0 rg BT 102.40 596.55 Td (er) Tj ET Q q 0 0 0 rg BT 109.83 596.55 Td (ag) Tj ET Q q 0 0 0 rg BT 118.30 596.55 Td (e number of c) Tj ET Q q 0 0 0 rg BT 169.10 596.55 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 215.31 596.55 Td (es dilut) Tj ET Q q 0 0 0 rg BT 248.37 596.55 Td (ed) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 257.58 600.84 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 258.90 596.55 Td (\(in thousands\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 448.45 596.55 Td (223,652) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.60 596.55 Td (209,597) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 574.30 Td (Ne) Tj ET Q q 0 0 0 rg BT 65.38 574.30 Td (t inc) Tj ET Q q 0 0 0 rg BT 82.68 574.30 Td (ome a) Tj ET Q q 0 0 0 rg BT 107.88 574.30 Td (t) Tj ET Q q 0 0 0 rg BT 111.08 574.30 Td (tribut) Tj ET Q q 0 0 0 rg BT 133.95 574.30 Td (able t) Tj ET Q q 0 0 0 rg BT 156.78 574.30 Td (o c) Tj ET Q q 0 0 0 rg BT 168.46 574.30 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 219.81 574.30 Td (eholder) Tj ET Q q 0 0 0 rg BT 251.15 574.30 Td (s f) Tj ET Q q 0 0 0 rg BT 260.16 574.30 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 287.02 574.30 Td (thr) Tj ET Q q 0 0 0 rg BT 298.98 574.30 Td (ee mon) Tj ET Q q 0 0 0 rg BT 329.62 574.30 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 389.04 574.30 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 435.95 574.30 Td ( w) Tj ET Q q 0 0 0 rg BT 445.25 574.30 Td (as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 456.21 574.30 Td ($45.9 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 508.97 574.30 Td ( or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 522.25 574.30 Td ($0.21) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 545.04 574.30 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 562.30 Td (per shar) Tj ET Q q 0 0 0 rg BT 87.29 562.30 Td (e \(dilut) Tj ET Q q 0 0 0 rg BT 115.89 562.30 Td (ed\) c) Tj ET Q q 0 0 0 rg BT 135.56 562.30 Td (ompar) Tj ET Q q 0 0 0 rg BT 162.22 562.30 Td (ed t) Tj ET Q q 0 0 0 rg BT 177.96 562.30 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 185.50 562.30 Td ($35.2 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 238.25 562.30 Td ( or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 251.53 562.30 Td ($0.17) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 274.33 562.30 Td ( per shar) Tj ET Q q 0 0 0 rg BT 309.88 562.30 Td (e \(dilut) Tj ET Q q 0 0 0 rg BT 338.49 562.30 Td (ed\) f) Tj ET Q q 0 0 0 rg BT 356.85 562.30 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 383.71 562.30 Td (same prior y) Tj ET Q q 0 0 0 rg BT 434.10 562.30 Td (ear period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 476.15 562.30 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 544.30 Td (The ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 71.36 544.30 Td (23.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.24 544.30 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 98.74 544.30 Td (or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 109.76 544.30 Td ($0.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.56 544.30 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 135.06 544.30 Td (incr) Tj ET Q q 0 0 0 rg BT 150.19 544.30 Td (ease) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 168.84 544.30 Td ( in ne) Tj ET Q q 0 0 0 rg BT 191.09 544.30 Td (t inc) Tj ET Q q 0 0 0 rg BT 208.39 544.30 Td (ome per shar) Tj ET Q q 0 0 0 rg BT 262.18 544.30 Td (e \(dilut) Tj ET Q q 0 0 0 rg BT 290.79 544.30 Td (ed\) f) Tj ET Q q 0 0 0 rg BT 311.41 544.30 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 338.27 544.30 Td (thr) Tj ET Q q 0 0 0 rg BT 350.23 544.30 Td (ee mon) Tj ET Q q 0 0 0 rg BT 380.87 544.30 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 440.29 544.30 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 487.20 544.30 Td ( w) Tj ET Q q 0 0 0 rg BT 496.50 544.30 Td (as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 532.30 Td (primarily due t) Tj ET Q q 0 0 0 rg BT 113.67 532.30 Td (o a higher f) Tj ET Q q 0 0 0 rg BT 159.35 532.30 Td (air v) Tj ET Q q 0 0 0 rg BT 176.55 532.30 Td (alue g) Tj ET Q q 0 0 0 rg BT 200.65 532.30 Td (ain on in) Tj ET Q q 0 0 0 rg BT 235.42 532.30 Td (v) Tj ET Q q 0 0 0 rg BT 239.83 532.30 Td (es) Tj ET Q q 0 0 0 rg BT 248.61 532.30 Td (tmen) Tj ET Q q 0 0 0 rg BT 270.08 532.30 Td (t pr) Tj ET Q q 0 0 0 rg BT 284.27 532.30 Td (operties ne) Tj ET Q q 0 0 0 rg BT 330.23 532.30 Td (t of the r) Tj ET Q q 0 0 0 rg BT 365.62 532.30 Td (ela) Tj ET Q q 0 0 0 rg BT 377.59 532.30 Td (t) Tj ET Q q 0 0 0 rg BT 380.83 532.30 Td (ed incr) Tj ET Q q 0 0 0 rg BT 408.45 532.30 Td (ease in de) Tj ET Q q 0 0 0 rg BT 449.32 532.30 Td (f) Tj ET Q q 0 0 0 rg BT 452.12 532.30 Td (err) Tj ET Q q 0 0 0 rg BT 463.94 532.30 Td (ed inc) Tj ET Q q 0 0 0 rg BT 488.12 532.30 Td (ome t) Tj ET Q q 0 0 0 rg BT 511.85 532.30 Td (a) Tj ET Q q 0 0 0 rg BT 516.54 532.30 Td (x) Tj ET Q q 0 0 0 rg BT 520.61 532.30 Td (es ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 520.30 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 520.30 Td (ompar) Tj ET Q q 0 0 0 rg BT 84.81 520.30 Td (ed t) Tj ET Q q 0 0 0 rg BT 100.55 520.30 Td (o the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 123.92 520.30 Td (same prior y) Tj ET Q q 0 0 0 rg BT 174.31 520.30 Td (ear period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 216.36 520.30 Td (, as w) Tj ET Q q 0 0 0 rg BT 239.14 520.30 Td (ell as an incr) Tj ET Q q 0 0 0 rg BT 289.36 520.30 Td (ease in t) Tj ET Q q 0 0 0 rg BT 323.34 520.30 Td (ot) Tj ET Q q 0 0 0 rg BT 331.84 520.30 Td (al Same Pr) Tj ET Q q 0 0 0 rg BT 374.28 520.30 Td (operty NOI and higher in) Tj ET Q q 0 0 0 rg BT 474.51 520.30 Td (t) Tj ET Q q 0 0 0 rg BT 477.75 520.30 Td (er) Tj ET Q q 0 0 0 rg BT 486.08 520.30 Td (es) Tj ET Q q 0 0 0 rg BT 494.86 520.30 Td (t and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 508.30 Td (other inc) Tj ET Q q 0 0 0 rg BT 90.29 508.30 Td (ome. The abo) Tj ET Q q 0 0 0 rg BT 145.95 508.30 Td (v) Tj ET Q q 0 0 0 rg BT 150.37 508.30 Td (e incr) Tj ET Q q 0 0 0 rg BT 172.74 508.30 Td (ease in ne) Tj ET Q q 0 0 0 rg BT 213.64 508.30 Td (t inc) Tj ET Q q 0 0 0 rg BT 230.94 508.30 Td (ome w) Tj ET Q q 0 0 0 rg BT 258.48 508.30 Td (as partially of) Tj ET Q q 0 0 0 rg BT 313.01 508.30 Td (f) Tj ET Q q 0 0 0 rg BT 315.93 508.30 Td (se) Tj ET Q q 0 0 0 rg BT 324.76 508.30 Td (t b) Tj ET Q q 0 0 0 rg BT 335.58 508.30 Td (y an incr) Tj ET Q q 0 0 0 rg BT 369.80 508.30 Td (ease in c) Tj ET Q q 0 0 0 rg BT 404.67 508.30 Td (orpor) Tj ET Q q 0 0 0 rg BT 427.24 508.30 Td (a) Tj ET Q q 0 0 0 rg BT 431.93 508.30 Td (t) Tj ET Q q 0 0 0 rg BT 435.18 508.30 Td (e e) Tj ET Q q 0 0 0 rg BT 447.24 508.30 Td (xpenses and lo) Tj ET Q q 0 0 0 rg BT 507.20 508.30 Td (w) Tj ET Q q 0 0 0 rg BT 514.26 508.30 Td (er ne) Tj ET Q q 0 0 0 rg BT 535.16 508.30 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 496.30 Td (g) Tj ET Q q 0 0 0 rg BT 58.52 496.30 Td (ains on mark) Tj ET Q q 0 0 0 rg BT 110.31 496.30 Td (e) Tj ET Q q 0 0 0 rg BT 115.23 496.30 Td (t) Tj ET Q q 0 0 0 rg BT 118.46 496.30 Td (able securities.) Tj ET Q endstream endobj 71 0 obj <> endobj 72 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (34) Tj ET Q BT /F1 10.00 Tf ET BT /F2 11.00 Tf ET q 0 0 0 rg BT 54.00 693.75 Td (R) Tj ET Q q 0 0 0 rg BT 60.03 693.75 Td (ec) Tj ET Q q 0 0 0 rg BT 70.12 693.75 Td (oncilia) Tj ET Q q 0 0 0 rg BT 99.97 693.75 Td (tion of Consolida) Tj ET Q q 0 0 0 rg BT 177.25 693.75 Td (t) Tj ET Q q 0 0 0 rg BT 180.92 693.75 Td (ed St) Tj ET Q q 0 0 0 rg BT 203.76 693.75 Td (a) Tj ET Q q 0 0 0 rg BT 209.08 693.75 Td (t) Tj ET Q q 0 0 0 rg BT 212.76 693.75 Td (emen) Tj ET Q q 0 0 0 rg BT 238.59 693.75 Td (ts of Inc) Tj ET Q q 0 0 0 rg BT 274.54 693.75 Td (ome, as pr) Tj ET Q q 0 0 0 rg BT 322.26 693.75 Td (esen) Tj ET Q q 0 0 0 rg BT 343.52 693.75 Td (t) Tj ET Q q 0 0 0 rg BT 347.20 693.75 Td (ed, t) Tj ET Q q 0 0 0 rg BT 367.67 693.75 Td (o the Compan) Tj ET Q q 0 0 0 rg BT 431.53 693.75 Td (y) Tj ET Q q 0 0 0 rg BT 437.09 693.75 Td () Tj ET Q q 0 0 0 rg BT 439.31 693.75 Td (s Pr) Tj ET Q q 0 0 0 rg BT 455.82 693.75 Td (oportiona) Tj ET Q q 0 0 0 rg BT 501.12 693.75 Td (t) Tj ET Q q 0 0 0 rg BT 504.80 693.75 Td (e In) Tj ET Q q 0 0 0 rg BT 521.55 693.75 Td (t) Tj ET Q q 0 0 0 rg BT 525.23 693.75 Td (er) Tj ET Q q 0 0 0 rg BT 534.56 693.75 Td (es) Tj ET Q q 0 0 0 rg BT 544.36 693.75 Td (t) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 678.75 Td (The f) Tj ET Q q 0 0 0 rg BT 74.21 678.75 Td (ollo) Tj ET Q q 0 0 0 rg BT 89.30 678.75 Td (wing t) Tj ET Q q 0 0 0 rg BT 114.20 678.75 Td (able pr) Tj ET Q q 0 0 0 rg BT 142.35 678.75 Td (o) Tj ET Q q 0 0 0 rg BT 147.58 678.75 Td (vides the r) Tj ET Q q 0 0 0 rg BT 189.99 678.75 Td (ec) Tj ET Q q 0 0 0 rg BT 199.11 678.75 Td (oncilia) Tj ET Q q 0 0 0 rg BT 225.45 678.75 Td (tion of the Compan) Tj ET Q q 0 0 0 rg BT 304.01 678.75 Td (y) Tj ET Q q 0 0 0 rg BT 308.84 678.75 Td () Tj ET Q q 0 0 0 rg BT 310.72 678.75 Td (s c) Tj ET Q q 0 0 0 rg BT 321.04 678.75 Td (onsolida) Tj ET Q q 0 0 0 rg BT 355.29 678.75 Td (t) Tj ET Q q 0 0 0 rg BT 358.54 678.75 Td (ed s) Tj ET Q q 0 0 0 rg BT 374.83 678.75 Td (t) Tj ET Q q 0 0 0 rg BT 378.05 678.75 Td (a) Tj ET Q q 0 0 0 rg BT 382.75 678.75 Td (t) Tj ET Q q 0 0 0 rg BT 385.99 678.75 Td (emen) Tj ET Q q 0 0 0 rg BT 409.09 678.75 Td (ts of inc) Tj ET Q q 0 0 0 rg BT 440.89 678.75 Td (ome, as pr) Tj ET Q q 0 0 0 rg BT 483.46 678.75 Td (esen) Tj ET Q q 0 0 0 rg BT 502.48 678.75 Td (t) Tj ET Q q 0 0 0 rg BT 505.72 678.75 Td (ed in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 666.75 Td (unaudit) Tj ET Q q 0 0 0 rg BT 85.34 666.75 Td (ed in) Tj ET Q q 0 0 0 rg BT 105.29 666.75 Td (t) Tj ET Q q 0 0 0 rg BT 108.53 666.75 Td (erim c) Tj ET Q q 0 0 0 rg BT 133.68 666.75 Td (onsolida) Tj ET Q q 0 0 0 rg BT 167.94 666.75 Td (t) Tj ET Q q 0 0 0 rg BT 171.18 666.75 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 223.98 666.75 Td (t) Tj ET Q q 0 0 0 rg BT 227.21 666.75 Td (a) Tj ET Q q 0 0 0 rg BT 231.91 666.75 Td (t) Tj ET Q q 0 0 0 rg BT 235.15 666.75 Td (emen) Tj ET Q q 0 0 0 rg BT 258.25 666.75 Td (ts, t) Tj ET Q q 0 0 0 rg BT 273.52 666.75 Td (o pr) Tj ET Q q 0 0 0 rg BT 289.63 666.75 Td (oportiona) Tj ET Q q 0 0 0 rg BT 329.79 666.75 Td (t) Tj ET Q q 0 0 0 rg BT 333.03 666.75 Td (e in) Tj ET Q q 0 0 0 rg BT 347.72 666.75 Td (t) Tj ET Q q 0 0 0 rg BT 350.96 666.75 Td (er) Tj ET Q q 0 0 0 rg BT 359.29 666.75 Td (es) Tj ET Q q 0 0 0 rg BT 368.07 666.75 Td (t. ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 656.25 m 230.5 656.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 643.25 m 230.5 643.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 656.25 m 284.5 656.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 230.5 643.25 m 284.5 643.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 656.25 m 343.5 656.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 643.25 m 343.5 643.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 656.25 m 393.5 656.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343.5 643.25 m 393.5 643.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 656.25 m 446.5 656.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 393.5 643.25 m 446.5 643.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 656.25 m 503.5 656.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 643.25 m 503.5 643.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 656.25 m 555.5 656.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 643.25 m 555.5 643.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 628.25 m 230.5 628.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 230.5 628.25 m 284.5 628.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 628.25 m 343.5 628.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343.5 628.25 m 393.5 628.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 393.5 628.25 m 446.5 628.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 628.25 m 503.5 628.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 628.25 m 555.5 628.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 595.25 m 230.5 595.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 230.5 595.25 m 284.5 595.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 595.25 m 343.5 595.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343.5 595.25 m 393.5 595.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 393.5 595.25 m 446.5 595.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 595.25 m 503.5 595.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 595.25 m 555.5 595.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 560.25 m 230.5 560.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 230.5 560.25 m 284.5 560.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 560.25 m 343.5 560.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343.5 560.25 m 393.5 560.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 393.5 560.25 m 446.5 560.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 560.25 m 503.5 560.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 560.25 m 555.5 560.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 547.25 m 230.5 547.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 547.25 m 284.5 547.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 547.25 m 343.5 547.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 547.25 m 393.5 547.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 547.25 m 446.5 547.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 547.25 m 503.5 547.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 547.25 m 555.5 547.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 414.25 m 230.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 230.5 414.25 m 284.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 414.25 m 343.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343.5 414.25 m 393.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 393.5 414.25 m 446.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 414.25 m 503.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 414.25 m 555.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 399.25 m 230.5 399.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 230.5 399.25 m 284.5 399.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 414.25 m 343.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 399.25 m 343.5 399.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343.5 414.25 m 393.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343.5 399.25 m 393.5 399.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 393.5 414.25 m 446.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 393.5 399.25 m 446.5 399.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 414.25 m 503.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 399.25 m 503.5 399.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 414.25 m 555.5 414.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 399.25 m 555.5 399.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 373.25 m 230.5 373.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 230.5 373.25 m 284.5 373.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 373.25 m 343.5 373.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343.5 373.25 m 393.5 373.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 393.5 373.25 m 446.5 373.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 373.25 m 503.5 373.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 373.25 m 555.5 373.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 358.25 m 230.5 358.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 358.25 m 284.5 358.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 373.25 m 343.5 373.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 358.25 m 343.5 358.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 358.25 m 393.5 358.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 358.25 m 446.5 358.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 358.25 m 503.5 358.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 358.25 m 555.5 358.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 317.25 m 230.5 317.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 304.25 m 230.5 304.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 230.5 317.25 m 284.5 317.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 304.25 m 284.5 304.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284.5 317.25 m 343.5 317.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 304.25 m 343.5 304.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343.5 317.25 m 393.5 317.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 304.25 m 393.5 304.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 393.5 317.25 m 446.5 317.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 304.25 m 446.5 304.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 317.25 m 503.5 317.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 304.25 m 503.5 304.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 317.25 m 555.5 317.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 304.25 m 555.5 304.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 252.25 m 230.5 252.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 252.25 m 284.5 252.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 252.25 m 343.5 252.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 252.25 m 393.5 252.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 252.25 m 446.5 252.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 252.25 m 503.5 252.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 252.25 m 555.5 252.25 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 439.10 647.00 Td (Three months ended March 31) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 57.00 633.00 Td (\(thousands of dollars, except per share data\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 371.75 633.00 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.75 633.00 Td (2014) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 243.00 613.50 Td (Consolidated) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 240.35 606.50 Td (Statements of) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 259.50 599.50 Td (Income) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 296.00 620.50 Td (Adjustment for) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 289.30 613.50 Td (equity method to) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 299.10 606.50 Td (proportionate) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 317.60 599.50 Td (interest) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 349.15 606.50 Td (Proportionate) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 367.60 599.50 Td (interest) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 405.85 613.50 Td (Consolidated) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 403.30 606.50 Td (Statements of) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 421.85 599.50 Td (Income) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 457.15 620.50 Td (Adjustment for) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 450.45 613.50 Td (equity method to) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 460.10 606.50 Td (proportionate) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 478.15 599.50 Td (interest) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 512.15 606.50 Td (Proportionate) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 530.15 599.50 Td (interest) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 577.00 Td (Property rental revenue) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 233.00 577.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 251.45 577.00 Td (163,974) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 287.00 577.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 319.55 577.00 Td (1,751) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 346.00 577.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 360.45 577.00 Td (165,725) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 396.00 577.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 413.00 577.00 Td (162,867) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 449.00 577.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 479.75 577.00 Td (1,174) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 577.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.00 577.00 Td (164,041) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 564.00 Td (Property operating costs) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 256.00 564.00 Td (63,881) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 326.45 564.00 Td (553) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 365.00 564.00 Td (64,434) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.55 564.00 Td (64,283) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 486.55 564.00 Td (385) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.55 564.00 Td (64,668) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 551.00 Td (Net operating income) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 251.45 551.00 Td (100,093) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 319.55 551.00 Td (1,198) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 360.45 551.00 Td (101,291) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.55 551.00 Td (98,584) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 486.55 551.00 Td (789) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.55 551.00 Td (99,373) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 529.00 Td (Other income and expenses) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 516.00 Td (Interest and other income) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 260.55 516.00 Td (3,968) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 328.20 516.00 Td (\(68) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 340.15 516.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 369.55 516.00 Td (3,900) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 422.15 516.00 Td (2,610) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 492.10 516.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.15 516.00 Td (2,610) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 503.00 Td (Interest expense) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 253.20 503.00 Td (\(41,488) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 281.15 503.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 323.65 503.00 Td (\(126) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 340.15 503.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 362.20 503.00 Td (\(41,614) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 390.15 503.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 414.85 503.00 Td (\(42,357) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 442.65 503.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.80 503.00 Td (\(131) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 500.25 503.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 523.85 503.00 Td (\(42,488) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.65 503.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 490.00 Td (Corpor) Tj ET Q q 0 0 0 rg BT 88.11 490.00 Td (a) Tj ET Q q 0 0 0 rg BT 92.34 490.00 Td (t) Tj ET Q q 0 0 0 rg BT 95.26 490.00 Td (e e) Tj ET Q q 0 0 0 rg BT 106.11 490.00 Td (xpenses) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 135.46 493.81 Td ( ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 257.75 490.00 Td (\(9,742) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 281.15 490.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 326.45 490.00 Td (257) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 366.75 490.00 Td (\(9,485) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 390.15 490.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 419.40 490.00 Td (\(8,016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 442.65 490.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 492.10 490.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.40 490.00 Td (\(8,016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.65 490.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 477.00 Td (Abandoned transaction costs) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 269.20 477.00 Td (\(69) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 281.15 477.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.00 477.00 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 378.20 477.00 Td (\(69) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 390.15 477.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 430.75 477.00 Td (\(48) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 442.65 477.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 492.10 477.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 539.75 477.00 Td (\(48) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.65 477.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 464.00 Td (Amortization expense) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 264.65 464.00 Td (\(826) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 281.15 464.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.00 464.00 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 373.65 464.00 Td (\(826) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 390.15 464.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 419.40 464.00 Td (\(1,023) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 442.65 464.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 492.10 464.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.40 464.00 Td (\(1,023) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.65 464.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 451.00 Td (Share of profit from joint ventures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 260.55 451.00 Td (5,919) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 316.75 451.00 Td (\(5,919) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 340.15 451.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 382.00 451.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 428.95 451.00 Td (685) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.80 451.00 Td (\(685) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 500.25 451.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.50 451.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 438.00 Td (Other gains \(losses\) and \(expenses\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 272.00 438.00 Td (86) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 328.20 438.00 Td (\(92) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 340.15 438.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 382.75 438.00 Td (\(6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 390.15 438.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 422.15 438.00 Td (1,246) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 492.10 438.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.15 438.00 Td (1,246) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 425.00 Td (Increase \(decrease\) in value of investment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 416.00 Td (properties, net) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 264.65 419.00 Td (\(334) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 281.15 419.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 319.55 419.00 Td (4,695) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 369.55 419.00 Td (4,361) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 419.40 419.00 Td (\(6,288) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 442.65 419.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.10 419.00 Td (27) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.40 419.00 Td (\(6,261) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.65 419.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 253.20 404.00 Td (\(42,486) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 281.15 404.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 316.75 404.00 Td (\(1,253) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 340.15 404.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 362.20 404.00 Td (\(43,739) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 390.15 404.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 414.85 404.00 Td (\(53,191) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 442.65 404.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.80 404.00 Td (\(789) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 500.25 404.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 523.85 404.00 Td (\(53,980) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.65 404.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 390.00 Td (Income before income taxes) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 256.00 390.00 Td (57,607) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 328.20 390.00 Td (\(55) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 340.15 390.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 365.00 390.00 Td (57,552) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.55 390.00 Td (45,393) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 492.10 390.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.55 390.00 Td (45,393) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 377.00 Td (Deferred income taxes) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 256.00 377.00 Td (11,651) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.00 377.00 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 365.00 377.00 Td (11,651) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.55 377.00 Td (10,484) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 492.10 377.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.55 377.00 Td (10,484) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 363.00 Td (Net income) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 233.00 363.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 256.00 363.00 Td (45,956) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 287.00 363.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 328.20 363.00 Td (\(55) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 340.15 363.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 346.00 363.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 365.00 363.00 Td (45,901) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 396.00 363.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.55 363.00 Td (34,909) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 449.00 363.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 492.10 363.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 363.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.55 363.00 Td (34,909) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 348.00 Td (Net income attributable to:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 334.00 Td (Common shareholders) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 233.00 334.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 256.00 334.00 Td (45,901) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 287.00 334.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 332.00 334.00 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 346.00 334.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 365.00 334.00 Td (45,901) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 396.00 334.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.55 334.00 Td (35,214) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 449.00 334.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 492.10 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BT 396.00 272.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 426.65 272.00 Td (0.17) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 257.00 Td (Diluted) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 233.00 257.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 265.05 257.00 Td (0.21) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 396.00 257.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 426.65 257.00 Td (0.17) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 73 0 obj <> endobj 74 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (35) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F2 11.00 Tf ET q 0 0 0 rg BT 54.00 693.75 Td (Ne) Tj ET Q q 0 0 0 rg BT 66.71 693.75 Td (t Oper) Tj ET Q q 0 0 0 rg BT 95.56 693.75 Td (a) Tj ET Q q 0 0 0 rg BT 100.88 693.75 Td (ting Inc) Tj ET Q q 0 0 0 rg BT 134.39 693.75 Td (ome) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 678.75 Td (NOI is de) Tj ET Q q 0 0 0 rg BT 90.46 678.75 Td (fined as pr) Tj ET Q q 0 0 0 rg BT 133.10 678.75 Td (operty r) Tj ET Q q 0 0 0 rg BT 165.58 678.75 Td (en) Tj ET Q q 0 0 0 rg BT 175.71 678.75 Td (t) Tj ET Q q 0 0 0 rg BT 178.94 678.75 Td (al r) Tj ET Q q 0 0 0 rg BT 191.64 678.75 Td (e) Tj ET Q q 0 0 0 rg BT 196.57 678.75 Td (v) Tj ET Q q 0 0 0 rg BT 200.99 678.75 Td (enue less pr) Tj ET Q q 0 0 0 rg BT 249.64 678.75 Td (operty oper) Tj ET Q q 0 0 0 rg BT 297.55 678.75 Td (a) Tj ET Q q 0 0 0 rg BT 302.25 678.75 Td (ting c) Tj ET Q q 0 0 0 rg BT 324.26 678.75 Td (os) Tj ET Q q 0 0 0 rg BT 333.33 678.75 Td (ts. In Manag) Tj ET Q q 0 0 0 rg BT 383.42 678.75 Td (emen) Tj ET Q q 0 0 0 rg BT 406.52 678.75 Td (t) Tj ET Q q 0 0 0 rg BT 410.22 678.75 Td () Tj ET Q q 0 0 0 rg BT 412.10 678.75 Td (s opinion, NOI is c) Tj ET Q q 0 0 0 rg BT 484.40 678.75 Td (ommon and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 666.75 Td (use) Tj ET Q q 0 0 0 rg BT 68.05 666.75 Td (ful in analy) Tj ET Q q 0 0 0 rg BT 112.30 666.75 Td (zing the oper) Tj ET Q q 0 0 0 rg BT 165.39 666.75 Td (a) Tj ET Q q 0 0 0 rg BT 170.08 666.75 Td (ting perf) Tj ET Q q 0 0 0 rg BT 204.51 666.75 Td (ormance of the Compan) Tj ET Q q 0 0 0 rg BT 302.90 666.75 Td (y) Tj ET Q q 0 0 0 rg BT 307.73 666.75 Td () Tj ET Q q 0 0 0 rg BT 309.61 666.75 Td (s shopping cen) Tj ET Q q 0 0 0 rg BT 369.61 666.75 Td (tr) Tj ET Q q 0 0 0 rg BT 376.31 666.75 Td (e portf) Tj ET Q q 0 0 0 rg BT 403.76 666.75 Td (olio) Tj ET Q q 0 0 0 rg BT 418.71 666.75 Td (, and it is a primar) Tj ET Q q 0 0 0 rg BT 491.80 666.75 Td (y me) Tj ET Q q 0 0 0 rg BT 511.50 666.75 Td (thod f) Tj ET Q q 0 0 0 rg BT 535.73 666.75 Td (or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 654.75 Td (analy) Tj ET Q q 0 0 0 rg BT 75.57 654.75 Td (zing r) Tj ET Q q 0 0 0 rg BT 97.39 654.75 Td (eal es) Tj ET Q q 0 0 0 rg BT 120.49 654.75 Td (t) Tj ET Q q 0 0 0 rg BT 123.72 654.75 Td (a) Tj ET Q q 0 0 0 rg BT 128.41 654.75 Td (t) Tj ET Q q 0 0 0 rg BT 131.66 654.75 Td (e in Canada. NOI is not a measur) Tj ET Q q 0 0 0 rg BT 263.48 654.75 Td (e de) Tj ET Q q 0 0 0 rg BT 280.86 654.75 Td (fined b) Tj ET Q q 0 0 0 rg BT 309.16 654.75 Td (y IFR) Tj ET Q q 0 0 0 rg BT 328.36 654.75 Td (S and as such ther) Tj ET Q q 0 0 0 rg BT 401.57 654.75 Td (e is no s) Tj ET Q q 0 0 0 rg BT 433.86 654.75 Td (t) Tj ET Q q 0 0 0 rg BT 437.09 654.75 Td (andar) Tj ET Q q 0 0 0 rg BT 460.53 654.75 Td (d de) Tj ET Q q 0 0 0 rg BT 478.18 654.75 Td (finition. As a ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 642.75 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 642.75 Td (esult, NOI ma) Tj ET Q q 0 0 0 rg BT 112.34 642.75 Td (y not be c) Tj ET Q q 0 0 0 rg BT 151.91 642.75 Td (ompar) Tj ET Q q 0 0 0 rg BT 178.49 642.75 Td (able with similar measur) Tj ET Q q 0 0 0 rg BT 277.97 642.75 Td (es pr) Tj ET Q q 0 0 0 rg BT 297.73 642.75 Td (esen) Tj ET Q q 0 0 0 rg BT 316.75 642.75 Td (t) Tj ET Q q 0 0 0 rg BT 319.99 642.75 Td (ed b) Tj ET Q q 0 0 0 rg BT 337.69 642.75 Td (y other en) Tj ET Q q 0 0 0 rg BT 379.21 642.75 Td (tities. NOI is not t) Tj ET Q q 0 0 0 rg BT 449.88 642.75 Td (o be c) Tj ET Q q 0 0 0 rg BT 474.05 642.75 Td (ons) Tj ET Q q 0 0 0 rg BT 488.38 642.75 Td (trued as an ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 630.75 Td (alt) Tj ET Q q 0 0 0 rg BT 64.33 630.75 Td (erna) Tj ET Q q 0 0 0 rg BT 82.74 630.75 Td (tiv) Tj ET Q q 0 0 0 rg BT 92.80 630.75 Td (e t) Tj ET Q q 0 0 0 rg BT 103.29 630.75 Td (o ne) Tj ET Q q 0 0 0 rg BT 121.00 630.75 Td (t inc) Tj ET Q q 0 0 0 rg BT 138.31 630.75 Td (ome or c) Tj ET Q q 0 0 0 rg BT 173.97 630.75 Td (ash flo) Tj ET Q q 0 0 0 rg BT 200.77 630.75 Td (w fr) Tj ET Q q 0 0 0 rg BT 216.55 630.75 Td (om oper) Tj ET Q q 0 0 0 rg BT 250.86 630.75 Td (a) Tj ET Q q 0 0 0 rg BT 255.56 630.75 Td (ting activities de) Tj ET Q q 0 0 0 rg BT 321.87 630.75 Td (t) Tj ET Q q 0 0 0 rg BT 325.11 630.75 Td (ermined in acc) Tj ET Q q 0 0 0 rg BT 384.57 630.75 Td (or) Tj ET Q q 0 0 0 rg BT 393.19 630.75 Td (dance with IFR) Tj ET Q q 0 0 0 rg BT 452.68 630.75 Td (S. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 612.75 Td (NOI ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 71.86 612.75 Td (incr) Tj ET Q q 0 0 0 rg BT 86.99 612.75 Td (eased) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 110.89 612.75 Td ( t) Tj ET Q q 0 0 0 rg BT 116.41 612.75 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 123.94 612.75 Td ($101.3 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 181.76 612.75 Td ( f) Tj ET Q q 0 0 0 rg BT 186.87 612.75 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 213.73 612.75 Td (thr) Tj ET Q q 0 0 0 rg BT 225.68 612.75 Td (ee mon) Tj ET Q q 0 0 0 rg BT 256.32 612.75 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 315.75 612.75 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 362.66 612.75 Td ( fr) Tj ET Q q 0 0 0 rg BT 371.29 612.75 Td (om ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 386.82 612.75 Td ($99.4 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 439.57 612.75 Td ( f) Tj ET Q q 0 0 0 rg BT 444.67 612.75 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.53 612.75 Td (same prior y) Tj ET Q q 0 0 0 rg BT 521.92 612.75 Td (ear ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 600.75 Td (period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 80.54 600.75 Td (. 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Occupancy ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 475.34 576.75 Td (incr) Tj ET Q q 0 0 0 rg BT 490.47 576.75 Td (eased) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.38 576.75 Td ( b) Tj ET Q q 0 0 0 rg BT 521.85 576.75 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 564.75 Td (0.3%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 73.81 564.75 Td ( t) Tj ET Q q 0 0 0 rg BT 79.32 564.75 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.86 564.75 Td (95.6%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 111.73 564.75 Td ( fr) Tj ET Q q 0 0 0 rg BT 120.37 564.75 Td (om ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 135.89 564.75 Td (95.3%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 160.77 564.75 Td ( as a) Tj ET Q q 0 0 0 rg BT 178.69 564.75 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 184.30 564.75 Td (Mar) Tj ET Q q 0 0 0 rg BT 200.98 564.75 Td (ch31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 247.89 564.75 Td (. The ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 270.04 564.75 Td (incr) Tj ET Q q 0 0 0 rg BT 285.17 564.75 Td (ease) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.82 564.75 Td ( in o) Tj ET Q q 0 0 0 rg BT 321.12 564.75 Td (v) Tj ET Q q 0 0 0 rg BT 325.54 564.75 Td (er) Tj ET Q q 0 0 0 rg BT 333.80 564.75 Td (all occupancy w) Tj ET Q q 0 0 0 rg BT 397.77 564.75 Td (as primarily the r) Tj ET Q q 0 0 0 rg BT 466.61 564.75 Td (esult of an ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 552.75 Td (incr) Tj ET Q q 0 0 0 rg BT 69.13 552.75 Td (ease in t) Tj ET Q q 0 0 0 rg BT 103.11 552.75 Td (ot) Tj ET Q q 0 0 0 rg BT 111.61 552.75 Td (al Same Pr) Tj ET Q q 0 0 0 rg BT 154.05 552.75 Td (operty occupancy) Tj ET Q q 0 0 0 rg BT 225.50 552.75 Td (, and fr) Tj ET Q q 0 0 0 rg BT 254.20 552.75 Td (om the Compan) Tj ET Q q 0 0 0 rg BT 319.26 552.75 Td (y's de) Tj ET Q q 0 0 0 rg BT 342.35 552.75 Td (v) Tj ET Q q 0 0 0 rg BT 346.77 552.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 382.69 552.75 Td (t and r) Tj ET Q q 0 0 0 rg BT 409.21 552.75 Td (ede) Tj ET Q q 0 0 0 rg BT 424.37 552.75 Td (v) Tj ET Q q 0 0 0 rg BT 428.79 552.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 464.71 552.75 Td (t initia) Tj ET Q q 0 0 0 rg BT 490.51 552.75 Td (tiv) Tj ET Q q 0 0 0 rg BT 500.57 552.75 Td (es, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 540.75 Td (leasing activities. On a Same Pr) Tj ET Q q 0 0 0 rg BT 179.57 540.75 Td (operty basis, occupancy ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 278.91 540.75 Td (incr) Tj ET Q q 0 0 0 rg BT 294.04 540.75 Td (eased) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 317.95 540.75 Td ( t) Tj ET Q q 0 0 0 rg BT 323.46 540.75 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 330.99 540.75 Td (96.4%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 355.87 540.75 Td ( fr) Tj ET Q q 0 0 0 rg BT 364.51 540.75 Td (om ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 380.03 540.75 Td (95.9%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 404.91 540.75 Td ( as a) Tj ET Q q 0 0 0 rg BT 422.83 540.75 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 428.44 540.75 Td (Mar) Tj ET Q q 0 0 0 rg BT 445.12 540.75 Td (ch31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 492.03 540.75 Td (. On a ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 528.75 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 528.75 Td (ompar) Tj ET Q q 0 0 0 rg BT 84.73 528.75 Td (a) Tj ET Q q 0 0 0 rg BT 89.43 528.75 Td (tiv) Tj ET Q q 0 0 0 rg BT 99.49 528.75 Td (e period basis, the shopping cen) Tj ET Q q 0 0 0 rg BT 230.11 528.75 Td (tr) Tj ET Q q 0 0 0 rg BT 236.82 528.75 Td (e portf) Tj ET Q q 0 0 0 rg BT 264.26 528.75 Td (olio siz) Tj ET Q q 0 0 0 rg BT 291.59 528.75 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 298.82 528.75 Td (decr) Tj ET Q q 0 0 0 rg BT 316.64 528.75 Td (eased) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 340.54 528.75 Td ( b) Tj ET Q q 0 0 0 rg BT 348.01 528.75 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 354.80 528.75 Td (0.3 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 397.41 528.75 Td ( squar) Tj ET Q q 0 0 0 rg BT 422.24 528.75 Td (e f) Tj ET Q q 0 0 0 rg BT 432.28 528.75 Td (ee) Tj ET Q q 0 0 0 rg BT 442.17 528.75 Td (t due t) Tj ET Q q 0 0 0 rg BT 468.78 528.75 Td (o ne) Tj ET Q q 0 0 0 rg BT 486.49 528.75 Td (t pr) Tj ET Q q 0 0 0 rg BT 500.68 528.75 Td (operty ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 516.75 Td (dispositions partially of) Tj ET Q q 0 0 0 rg BT 148.11 516.75 Td (f) Tj ET Q q 0 0 0 rg BT 151.03 516.75 Td (se) Tj ET Q q 0 0 0 rg BT 159.86 516.75 Td (t b) Tj ET Q q 0 0 0 rg BT 170.67 516.75 Td (y ne) Tj ET Q q 0 0 0 rg BT 187.64 516.75 Td (t de) Tj ET Q q 0 0 0 rg BT 203.43 516.75 Td (v) Tj ET Q q 0 0 0 rg BT 207.85 516.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 243.77 516.75 Td (t space c) Tj ET Q q 0 0 0 rg BT 278.95 516.75 Td (oming online. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 498.75 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 498.75 Td (y) Tj ET Q q 0 0 0 rg BT 109.90 498.75 Td () Tj ET Q q 0 0 0 rg BT 111.78 498.75 Td (s pr) Tj ET Q q 0 0 0 rg BT 126.53 498.75 Td (oportiona) Tj ET Q q 0 0 0 rg BT 166.69 498.75 Td (t) Tj ET Q q 0 0 0 rg BT 169.93 498.75 Td (e in) Tj ET Q q 0 0 0 rg BT 184.63 498.75 Td (t) Tj ET Q q 0 0 0 rg BT 187.87 498.75 Td (er) Tj ET Q q 0 0 0 rg BT 196.20 498.75 Td (es) Tj ET Q q 0 0 0 rg BT 204.97 498.75 Td (t in ne) Tj ET Q q 0 0 0 rg BT 230.57 498.75 Td (t oper) Tj ET Q q 0 0 0 rg BT 254.96 498.75 Td (a) Tj ET Q q 0 0 0 rg BT 259.66 498.75 Td (ting inc) Tj ET Q q 0 0 0 rg BT 289.22 498.75 Td (ome f) Tj ET Q q 0 0 0 rg BT 312.56 498.75 Td (or the shopping cen) Tj ET Q q 0 0 0 rg BT 393.25 498.75 Td (tr) Tj ET Q q 0 0 0 rg BT 399.95 498.75 Td (e portf) Tj ET Q q 0 0 0 rg BT 427.39 498.75 Td (olio is pr) Tj ET Q q 0 0 0 rg BT 461.87 498.75 Td (esen) Tj ET Q q 0 0 0 rg BT 480.89 498.75 Td (t) Tj ET Q q 0 0 0 rg BT 484.13 498.75 Td (ed belo) Tj ET Q q 0 0 0 rg BT 514.38 498.75 Td (w:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 488.25 m 432.5 488.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 474.25 m 432.5 474.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 488.25 m 487.5 488.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 474.25 m 487.5 474.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 488.25 m 503.5 488.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 474.25 m 503.5 474.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 488.25 m 558.5 488.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 474.25 m 558.5 474.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 460.25 m 432.5 460.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 474.25 m 487.5 474.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 460.25 m 487.5 460.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 474.25 m 503.5 474.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 460.25 m 503.5 460.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 474.25 m 558.5 474.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 460.25 m 558.5 460.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 343.25 m 503.5 343.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 343.25 m 558.5 343.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 343.25 m 432.5 343.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 330.25 m 432.5 330.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 343.25 m 487.5 343.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 330.25 m 487.5 330.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 343.25 m 503.5 343.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 330.25 m 503.5 330.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 343.25 m 558.5 343.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 330.25 m 558.5 330.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 265.25 m 503.5 265.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 265.25 m 558.5 265.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 265.25 m 432.5 265.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 265.25 m 487.5 265.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 265.25 m 503.5 265.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 265.25 m 558.5 265.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 252.25 m 432.5 252.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 252.25 m 487.5 252.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 252.25 m 503.5 252.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 239.25 m 503.5 239.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 252.25 m 558.5 252.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 239.25 m 558.5 239.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 239.25 m 432.5 239.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 239.25 m 487.5 239.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 239.25 m 503.5 239.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 239.25 m 558.5 239.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 226.25 m 432.5 226.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 226.25 m 487.5 226.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 226.25 m 503.5 226.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 226.25 m 558.5 226.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 213.25 m 432.5 213.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 198.25 m 432.5 198.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 213.25 m 487.5 213.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 198.25 m 487.5 198.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 213.25 m 503.5 213.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 198.25 m 503.5 198.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 213.25 m 558.5 213.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 198.25 m 558.5 198.25 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 448.65 478.75 Td (Three months ended March 31) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 464.75 Td (\(thousands of dollars, except other data\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.15 464.75 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 535.30 464.75 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 451.00 Td (Property rental revenue) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 438.00 Td (Base r) Tj ET Q q 0 0 0 rg BT 91.26 438.00 Td (en) Tj ET Q q 0 0 0 rg BT 100.38 438.00 Td (t ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 105.43 442.29 Td (\(1\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 435.00 438.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 450.70 438.00 Td (102,801) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 438.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.90 438.00 Td (102,047) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 425.00 Td (Operating cost recoveries) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.25 425.00 Td (25,535) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 425.00 Td (26,589) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 412.00 Td (Realty tax recoveries) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.25 412.00 Td (31,649) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 412.00 Td (30,011) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 399.00 Td (Rental revenue recognized on a straight-line basis) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.80 399.00 Td (1,248) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.05 399.00 Td (1,752) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 386.00 Td (Lease surrender fees) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.70 386.00 Td (184) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.85 386.00 Td (415) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 373.00 Td (Percentage rent) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.70 373.00 Td (572) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.85 373.00 Td (233) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 360.00 Td (Prior year operating cost and tax recovery adjustments) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.70 360.00 Td (233) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.10 360.00 Td (\(711) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 360.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 347.00 Td (Temporary tenants, storage, parking and other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.80 347.00 Td (3,503) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.05 347.00 Td (3,705) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 335.00 Td (Total property rental revenue) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 450.70 334.00 Td (165,725) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.90 334.00 Td (164,041) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 321.00 Td (Property operating costs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 308.00 Td (Recoverable operating expenses) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.25 308.00 Td (29,518) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 308.00 Td (31,145) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 295.00 Td (Recoverable realty tax expenses) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.25 295.00 Td (34,958) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 295.00 Td (33,062) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 282.00 Td (Prior year operating cost and tax expense adjustments) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.45 282.00 Td (\(40) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.40 282.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.10 282.00 Td (\(403) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 282.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 269.00 Td (Other operating costs and adjustments) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 473.00 269.00 Td (\(2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.40 269.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.85 269.00 Td (864) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 257.00 Td (Total property operating costs) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.25 256.00 Td (64,434) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 256.00 Td (64,668) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 244.00 Td (NOI) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 435.00 243.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 450.70 243.00 Td (101,291) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 243.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 243.00 Td (99,373) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 231.00 Td (NOI margin) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 464.30 231.00 Td (61.1) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.40 231.00 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 231.00 Td (60.6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 231.00 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 218.00 Td (Operating cost recovery margin) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 464.30 218.00 Td (86.5) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.40 218.00 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 218.00 Td (85.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 218.00 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 203.00 Td (Tax recovery margin) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 464.30 203.00 Td (90.5) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.40 203.00 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 203.00 Td (90.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 203.00 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 190.69 Td (\(1\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 187.35 Td (Base r) Tj ET Q q 0 0 0 rg BT 80.31 187.35 Td (en) Tj ET Q q 0 0 0 rg BT 87.41 187.35 Td (t includes annual minimum r) Tj ET Q q 0 0 0 rg BT 168.55 187.35 Td (en) Tj ET Q q 0 0 0 rg BT 175.64 187.35 Td (ts fr) Tj ET Q q 0 0 0 rg BT 186.77 187.35 Td (om gr) Tj ET Q q 0 0 0 rg BT 203.26 187.35 Td (oss and semi-gr) Tj ET Q q 0 0 0 rg BT 247.48 187.35 Td (oss leases.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 172.35 Td (The chang) Tj ET Q q 0 0 0 rg BT 95.51 172.35 Td (e in the t) Tj ET Q q 0 0 0 rg BT 131.65 172.35 Td (ot) Tj ET Q q 0 0 0 rg BT 140.15 172.35 Td (al portf) Tj ET Q q 0 0 0 rg BT 169.70 172.35 Td (olio NOI mar) Tj ET Q q 0 0 0 rg BT 221.08 172.35 Td (gin is primarily driv) Tj ET Q q 0 0 0 rg BT 298.20 172.35 Td (en b) Tj ET Q q 0 0 0 rg BT 315.89 172.35 Td (y occupancy) Tj ET Q q 0 0 0 rg BT 365.01 172.35 Td (, base r) Tj ET Q q 0 0 0 rg BT 394.31 172.35 Td (en) Tj ET Q q 0 0 0 rg BT 404.44 172.35 Td (t gr) Tj ET Q q 0 0 0 rg BT 418.09 172.35 Td (o) Tj ET Q q 0 0 0 rg BT 423.32 172.35 Td (w) Tj ET Q q 0 0 0 rg BT 430.49 172.35 Td (th, oper) Tj ET Q q 0 0 0 rg BT 462.63 172.35 Td (a) Tj ET Q q 0 0 0 rg BT 467.33 172.35 Td (ting c) Tj ET Q q 0 0 0 rg BT 489.34 172.35 Td (os) Tj ET Q q 0 0 0 rg BT 498.41 172.35 Td (ts and t) Tj ET Q q 0 0 0 rg BT 528.72 172.35 Td (a) Tj ET Q q 0 0 0 rg BT 533.42 172.35 Td (x ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 160.35 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 160.35 Td (ec) Tj ET Q q 0 0 0 rg BT 66.48 160.35 Td (o) Tj ET Q q 0 0 0 rg BT 71.71 160.35 Td (v) Tj ET Q q 0 0 0 rg BT 76.12 160.35 Td (er) Tj ET Q q 0 0 0 rg BT 84.63 160.35 Td (y mar) Tj ET Q q 0 0 0 rg BT 107.55 160.35 Td (gins and non-r) Tj ET Q q 0 0 0 rg BT 165.73 160.35 Td (ec) Tj ET Q q 0 0 0 rg BT 174.85 160.35 Td (o) Tj ET Q q 0 0 0 rg BT 180.08 160.35 Td (v) Tj ET Q q 0 0 0 rg BT 184.50 160.35 Td (er) Tj ET Q q 0 0 0 rg BT 192.76 160.35 Td (able oper) Tj ET Q q 0 0 0 rg BT 231.12 160.35 Td (a) Tj ET Q q 0 0 0 rg BT 235.82 160.35 Td (ting c) Tj ET Q q 0 0 0 rg BT 257.83 160.35 Td (os) Tj ET Q q 0 0 0 rg BT 266.90 160.35 Td (ts. F) Tj ET Q q 0 0 0 rg BT 283.40 160.35 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 310.26 160.35 Td (thr) Tj ET Q q 0 0 0 rg BT 322.22 160.35 Td (ee mon) Tj ET Q q 0 0 0 rg BT 352.86 160.35 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 412.29 160.35 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 459.20 160.35 Td (, the t) Tj ET Q q 0 0 0 rg BT 483.04 160.35 Td (ot) Tj ET Q q 0 0 0 rg BT 491.54 160.35 Td (al portf) Tj ET Q q 0 0 0 rg BT 521.09 160.35 Td (olio NOI ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 148.35 Td (mar) Tj ET Q q 0 0 0 rg BT 70.13 148.35 Td (gin incr) Tj ET Q q 0 0 0 rg BT 99.78 148.35 Td (eased t) Tj ET Q q 0 0 0 rg BT 129.20 148.35 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 136.73 148.35 Td (61.1%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 161.61 148.35 Td ( fr) Tj ET Q q 0 0 0 rg BT 170.25 148.35 Td (om ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 185.77 148.35 Td (60.6%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 210.65 148.35 Td ( when c) Tj ET Q q 0 0 0 rg BT 241.94 148.35 Td (ompar) Tj ET Q q 0 0 0 rg BT 268.60 148.35 Td (ed t) Tj ET Q q 0 0 0 rg BT 284.35 148.35 Td (o the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 307.72 148.35 Td (same prior y) Tj ET Q q 0 0 0 rg BT 358.11 148.35 Td (ear period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 400.16 148.35 Td (. The t) Tj ET Q q 0 0 0 rg BT 425.56 148.35 Td (ot) Tj ET Q q 0 0 0 rg BT 434.06 148.35 Td (al portf) Tj ET Q q 0 0 0 rg BT 463.61 148.35 Td (olio oper) Tj ET Q q 0 0 0 rg BT 499.79 148.35 Td (a) Tj ET Q q 0 0 0 rg BT 504.49 148.35 Td (ting c) Tj ET Q q 0 0 0 rg BT 526.50 148.35 Td (os) Tj ET Q q 0 0 0 rg BT 535.57 148.35 Td (ts ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 136.35 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 136.35 Td (ec) Tj ET Q q 0 0 0 rg BT 66.48 136.35 Td (o) Tj ET Q q 0 0 0 rg BT 71.71 136.35 Td (v) Tj ET Q q 0 0 0 rg BT 76.12 136.35 Td (er) Tj ET Q q 0 0 0 rg BT 84.63 136.35 Td (y mar) Tj ET Q q 0 0 0 rg BT 107.55 136.35 Td (gin f) Tj ET Q q 0 0 0 rg BT 124.91 136.35 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 151.77 136.35 Td (thr) Tj ET Q q 0 0 0 rg BT 163.73 136.35 Td (ee mon) Tj ET Q q 0 0 0 rg BT 194.36 136.35 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 253.79 136.35 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.70 136.35 Td ( incr) Tj ET Q q 0 0 0 rg BT 318.09 136.35 Td (eased t) Tj ET Q q 0 0 0 rg BT 347.51 136.35 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 355.04 136.35 Td (86.5%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 379.92 136.35 Td ( fr) Tj ET Q q 0 0 0 rg BT 388.56 136.35 Td (om ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 404.08 136.35 Td (85.4%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 428.96 136.35 Td ( when c) Tj ET Q q 0 0 0 rg BT 460.26 136.35 Td (ompar) Tj ET Q q 0 0 0 rg BT 486.92 136.35 Td (ed t) Tj ET Q q 0 0 0 rg BT 502.66 136.35 Td (o the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 526.04 136.35 Td (same ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 124.35 Td (prior y) Tj ET Q q 0 0 0 rg BT 80.46 124.35 Td (ear period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 122.51 124.35 Td ( primarily due t) Tj ET Q q 0 0 0 rg BT 184.44 124.35 Td (o the incr) Tj ET Q q 0 0 0 rg BT 222.95 124.35 Td (ease in the Same Pr) Tj ET Q q 0 0 0 rg BT 302.61 124.35 Td (operty occupancy r) Tj ET Q q 0 0 0 rg BT 380.39 124.35 Td (esulting in an incr) Tj ET Q q 0 0 0 rg BT 451.94 124.35 Td (ease in the Same ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 112.35 Td (Pr) Tj ET Q q 0 0 0 rg BT 62.49 112.35 Td (operty oper) Tj ET Q q 0 0 0 rg BT 110.40 112.35 Td (a) Tj ET Q q 0 0 0 rg BT 115.10 112.35 Td (ting c) Tj ET Q q 0 0 0 rg BT 137.11 112.35 Td (os) Tj ET Q q 0 0 0 rg BT 146.18 112.35 Td (t r) Tj ET Q q 0 0 0 rg BT 155.15 112.35 Td (ec) Tj ET Q q 0 0 0 rg BT 164.27 112.35 Td (o) Tj ET Q q 0 0 0 rg BT 169.50 112.35 Td (v) Tj ET Q q 0 0 0 rg BT 173.92 112.35 Td (er) Tj ET Q q 0 0 0 rg BT 182.43 112.35 Td (y mar) Tj ET Q q 0 0 0 rg BT 205.34 112.35 Td (gin fr) Tj ET Q q 0 0 0 rg BT 226.24 112.35 Td (om 87.8% t) Tj ET Q q 0 0 0 rg BT 272.15 112.35 Td (o 91.0%. This w) Tj ET Q q 0 0 0 rg BT 334.98 112.35 Td (as partially of) Tj ET Q q 0 0 0 rg BT 389.51 112.35 Td (f) Tj ET Q q 0 0 0 rg BT 392.43 112.35 Td (se) Tj ET Q q 0 0 0 rg BT 401.26 112.35 Td (t b) Tj ET Q q 0 0 0 rg BT 412.08 112.35 Td (y a r) Tj ET Q q 0 0 0 rg BT 429.27 112.35 Td (eduction in the oper) Tj ET Q q 0 0 0 rg BT 511.85 112.35 Td (a) Tj ET Q q 0 0 0 rg BT 516.54 112.35 Td (ting c) Tj ET Q q 0 0 0 rg BT 538.56 112.35 Td (os) Tj ET Q q 0 0 0 rg BT 547.63 112.35 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 100.35 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 100.35 Td (ec) Tj ET Q q 0 0 0 rg BT 66.48 100.35 Td (o) Tj ET Q q 0 0 0 rg BT 71.71 100.35 Td (v) Tj ET Q q 0 0 0 rg BT 76.12 100.35 Td (er) Tj ET Q q 0 0 0 rg BT 84.63 100.35 Td (y mar) Tj ET Q q 0 0 0 rg BT 107.55 100.35 Td (gin f) Tj ET Q q 0 0 0 rg BT 124.91 100.35 Td (or the r) Tj ET Q q 0 0 0 rg BT 155.12 100.35 Td (emainder of the portf) Tj ET Q q 0 0 0 rg BT 243.03 100.35 Td (olio fr) Tj ET Q q 0 0 0 rg BT 266.81 100.35 Td (om 77.2% t) Tj ET Q q 0 0 0 rg BT 312.72 100.35 Td (o 70.0% due t) Tj ET Q q 0 0 0 rg BT 368.39 100.35 Td (o de) Tj ET Q q 0 0 0 rg BT 386.10 100.35 Td (v) Tj ET Q q 0 0 0 rg BT 390.52 100.35 Td (elopmen) Tj ET Q q 0 0 0 rg BT 426.45 100.35 Td (t, r) Tj ET Q q 0 0 0 rg BT 437.91 100.35 Td (ede) Tj ET Q q 0 0 0 rg BT 453.06 100.35 Td (v) Tj ET Q q 0 0 0 rg BT 457.48 100.35 Td (elopmen) Tj ET Q q 0 0 0 rg BT 493.40 100.35 Td (t and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 88.35 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 88.35 Td (epositioning activities. 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The Same Pr) Tj ET Q q 0 0 0 rg BT 310.81 76.35 Td (operty t) Tj ET Q q 0 0 0 rg BT 343.16 76.35 Td (a) Tj ET Q q 0 0 0 rg BT 347.86 76.35 Td (x r) Tj ET Q q 0 0 0 rg BT 357.80 76.35 Td (ec) Tj ET Q q 0 0 0 rg BT 366.92 76.35 Td (o) Tj ET Q q 0 0 0 rg BT 372.15 76.35 Td (v) Tj ET Q q 0 0 0 rg BT 376.57 76.35 Td (er) Tj ET Q q 0 0 0 rg BT 385.08 76.35 Td (y mar) Tj ET Q q 0 0 0 rg BT 408.00 76.35 Td (gin incr) Tj ET Q q 0 0 0 rg BT 437.65 76.35 Td (eased fr) Tj ET Q q 0 0 0 rg BT 470.19 76.35 Td (om 92.4% t) Tj ET Q q 0 0 0 rg BT 516.10 76.35 Td (o 94.3% ) Tj ET Q endstream endobj 75 0 obj <> endobj 76 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (36) Tj ET Q 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ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 682.50 Td (fr) Tj ET Q q 0 0 0 rg BT 60.38 682.50 Td (om 83.3% t) Tj ET Q q 0 0 0 rg BT 106.29 682.50 Td (o 75.4% due t) Tj ET Q q 0 0 0 rg BT 161.96 682.50 Td (o de) Tj ET Q q 0 0 0 rg BT 179.67 682.50 Td (v) Tj ET Q q 0 0 0 rg BT 184.09 682.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 220.02 682.50 Td (t and r) Tj ET Q q 0 0 0 rg BT 246.54 682.50 Td (epositioning activities. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 664.50 Td (The f) Tj ET Q q 0 0 0 rg BT 74.21 664.50 Td (ollo) Tj ET Q q 0 0 0 rg BT 89.30 664.50 Td (wing t) Tj ET Q q 0 0 0 rg BT 114.20 664.50 Td (able summariz) Tj ET Q q 0 0 0 rg BT 173.21 664.50 Td (es the Compan) Tj ET Q q 0 0 0 rg BT 233.90 664.50 Td (y's NOI mar) Tj ET Q q 0 0 0 rg BT 280.79 664.50 Td (gin, oper) Tj ET Q q 0 0 0 rg BT 316.59 664.50 Td (a) Tj ET Q q 0 0 0 rg BT 321.29 664.50 Td (ting c) Tj ET Q q 0 0 0 rg BT 343.30 664.50 Td (os) Tj ET Q q 0 0 0 rg BT 352.37 664.50 Td (t and t) Tj ET Q q 0 0 0 rg BT 378.77 664.50 Td (a) Tj ET Q q 0 0 0 rg BT 383.46 664.50 Td (x r) Tj ET Q q 0 0 0 rg BT 393.41 664.50 Td (ec) Tj ET Q q 0 0 0 rg BT 402.53 664.50 Td (o) Tj ET Q q 0 0 0 rg BT 407.76 664.50 Td (v) Tj ET Q q 0 0 0 rg BT 412.18 664.50 Td (eries mar) Tj ET Q q 0 0 0 rg BT 450.21 664.50 Td (gin, and occupancy b) Tj ET Q q 0 0 0 rg BT 535.28 664.50 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 652.50 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 652.50 Td (operty c) Tj ET Q q 0 0 0 rg BT 95.85 652.50 Td (a) Tj ET Q q 0 0 0 rg BT 100.55 652.50 Td (t) Tj ET Q q 0 0 0 rg BT 103.79 652.50 Td (eg) Tj ET Q q 0 0 0 rg BT 113.40 652.50 Td (or) Tj ET Q q 0 0 0 rg BT 122.21 652.50 Td (y:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 642 m 285.5 642 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 622 m 285.5 622 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 642 m 329.5 642 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 285.5 622 m 329.5 622 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 642 m 373.5 622 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 642 m 373.5 642 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 329.5 622 m 373.5 622 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 642 m 417.5 642 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 622 m 417.5 622 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 642 m 461.5 622 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 642 m 461.5 642 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 622 m 461.5 622 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 642 m 505.5 642 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 622 m 505.5 622 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 642 m 549.5 642 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 622 m 549.5 622 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 601 m 285.5 601 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 285.5 622 m 329.5 622 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 285.5 601 m 329.5 601 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 622 m 373.5 601 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 329.5 601 m 373.5 601 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 622 m 417.5 622 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 601 m 417.5 601 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 622 m 461.5 601 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 622 m 461.5 622 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 601 m 461.5 601 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 601 m 505.5 601 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 601 m 549.5 601 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 588 m 285.5 588 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 285.5 601 m 329.5 601 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 285.5 588 m 329.5 588 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 601 m 373.5 588 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 329.5 601 m 373.5 601 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 329.5 588 m 373.5 588 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 601 m 417.5 601 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 588 m 417.5 588 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 601 m 461.5 588 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 601 m 461.5 601 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 588 m 461.5 588 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 601 m 505.5 601 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 588 m 505.5 588 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 601 m 549.5 601 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 588 m 549.5 588 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 588 m 373.5 575 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 588 m 461.5 575 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 588 m 505.5 588 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 588 m 549.5 588 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 575 m 373.5 552 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 575 m 461.5 552 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 552 m 285.5 552 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 539 m 285.5 539 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 285.5 552 m 329.5 552 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 285.5 539 m 329.5 539 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 552 m 373.5 539 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 329.5 552 m 373.5 552 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 329.5 539 m 373.5 539 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 552 m 417.5 552 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 539 m 417.5 539 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 552 m 461.5 539 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 552 m 461.5 552 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 539 m 461.5 539 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 552 m 505.5 552 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 539 m 505.5 539 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 552 m 549.5 552 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 539 m 549.5 539 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 539 m 373.5 526 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 539 m 461.5 526 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 539 m 549.5 539 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 526 m 373.5 513 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 526 m 461.5 513 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 513 m 373.5 500 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 513 m 461.5 500 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 513 m 461.5 500 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 500 m 373.5 486 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 500 m 461.5 486 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 500 m 461.5 486 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 486 m 373.5 463 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 486 m 461.5 463 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 463 m 373.5 450 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 463 m 461.5 450 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 450 m 285.5 450 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 435 m 285.5 435 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 285.5 450 m 329.5 450 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 435 m 329.5 435 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 450 m 373.5 435 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 329.5 450 m 373.5 450 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 435 m 373.5 435 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373.5 450 m 417.5 450 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 435 m 417.5 435 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 450 m 461.5 435 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 450 m 461.5 450 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 435 m 461.5 435 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461.5 450 m 505.5 450 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 435 m 505.5 435 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 450 m 549.5 450 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 435 m 549.5 435 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 307.25 626.50 Td (NOI Margin) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 376.60 633.50 Td (Operating Cost and Tax) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 384.05 625.50 Td (Recoveries Margin) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 485.95 626.50 Td (% Occupied) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 295.15 613.50 Td (Three months ended) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 313.55 605.50 Td (March 31) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 383.15 613.50 Td (Three months ended) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 401.55 605.50 Td (March 31) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 480.65 605.50 Td (As at March 31) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 309.75 592.50 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 353.75 592.50 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 397.75 592.50 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 441.75 592.50 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.75 592.50 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 529.75 592.50 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 578.75 Td (Same Property stable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 306.30 578.75 Td (62.4) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.40 578.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 350.55 578.75 Td (61.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.55 578.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 394.30 578.75 Td (93.2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 410.40 578.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.55 578.75 Td (90.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 454.55 578.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.30 578.75 Td (96.5) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.40 578.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.55 578.75 Td (95.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 578.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 565.75 Td (Same Property with incremental redevelopment and) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 556.75 Td (expansion) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 306.30 565.75 Td (61.1) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.40 565.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 350.55 565.75 Td (61.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.55 565.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 394.30 565.75 Td (90.2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 410.40 565.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.55 565.75 Td (89.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 454.55 565.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.30 565.75 Td (95.8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.40 565.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.55 565.75 Td (97.2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 565.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 542.75 Td (Total Same Property) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 306.30 542.75 Td (62.3) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.40 542.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 350.55 542.75 Td (61.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.55 542.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 394.30 542.75 Td (92.8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 410.40 542.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.55 542.75 Td (90.2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 454.55 542.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.30 542.75 Td (96.4) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.40 542.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.55 542.75 Td (95.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 542.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 529.75 Td (Major redevelopment) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 306.30 529.75 Td (55.9) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.40 529.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 350.55 529.75 Td (52.6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.55 529.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 394.30 529.75 Td (72.6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 410.40 529.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.55 529.75 Td (78.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 454.55 529.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.30 529.75 Td (90.7) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.40 529.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.55 529.75 Td (91.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 529.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 516.75 Td (Ground-up development) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 306.30 516.75 Td (39.7) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.40 516.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 350.55 516.75 Td (49.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.55 516.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 394.30 516.75 Td (65.1) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 410.40 516.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.55 516.75 Td (76.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 454.55 516.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.30 516.75 Td (90.9) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.40 516.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.55 516.75 Td (98.2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 516.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 503.75 Td (Acquisitions 2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 306.30 503.75 Td (79.5) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.40 503.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 358.40 503.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.55 503.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 394.30 503.75 Td (55.2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 410.40 503.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 446.40 503.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 454.55 503.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.30 503.75 Td (74.8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.40 503.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.40 503.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 503.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 490.75 Td (Acquisitions 2014) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 306.30 490.75 Td (58.7) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.40 490.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 350.55 490.75 Td (64.5) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.55 490.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 394.30 490.75 Td (86.4) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 410.40 490.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.55 490.75 Td (87.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 454.55 490.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.30 490.75 Td (91.9) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.40 490.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.55 490.75 Td (93.1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 490.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 476.75 Td (In) Tj ET Q q 0 0 0 rg BT 63.85 476.75 Td (v) Tj ET Q q 0 0 0 rg BT 67.82 476.75 Td (es) Tj ET Q q 0 0 0 rg BT 75.72 476.75 Td (tmen) Tj ET Q q 0 0 0 rg BT 95.05 476.75 Td (t pr) Tj ET Q q 0 0 0 rg BT 107.82 476.75 Td (operties classified as ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 467.75 Td (held f) Tj ET Q q 0 0 0 rg BT 86.59 467.75 Td (or sale) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 306.30 467.75 Td (61.2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.40 467.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 350.55 467.75 Td (72.6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.55 467.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 394.30 467.75 Td (73.0) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 410.40 467.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.00 467.75 Td (101.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 454.55 467.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 477.75 467.75 Td (100.0) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.40 467.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.00 467.75 Td (100.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 467.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 453.75 Td (Dispositions and other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 306.30 453.75 Td (63.8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.40 453.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 350.55 453.75 Td (65.6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.55 453.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 394.30 453.75 Td (54.1) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 410.40 453.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.55 453.75 Td (87.6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 454.55 453.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 490.25 453.75 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.40 453.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.55 453.75 Td (79.1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 453.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 439.75 Td (Total portfolio) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 306.30 439.75 Td (61.1) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.40 439.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 350.55 439.75 Td (60.6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.55 439.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 394.30 439.75 Td (88.7) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 410.40 439.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.55 439.75 Td (88.2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 454.55 439.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.30 439.75 Td (95.6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.40 439.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.55 439.75 Td (95.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.55 439.75 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 417.50 Td (The Same Pr) Tj ET Q q 0 0 0 rg BT 104.46 417.50 Td (operty NOI mar) Tj ET Q q 0 0 0 rg BT 167.57 417.50 Td (gin f) Tj ET Q q 0 0 0 rg BT 184.93 417.50 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 211.79 417.50 Td (thr) Tj ET Q q 0 0 0 rg BT 223.75 417.50 Td (ee mon) Tj ET Q q 0 0 0 rg BT 254.39 417.50 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 313.81 417.50 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 360.72 417.50 Td ( incr) Tj ET Q q 0 0 0 rg BT 378.12 417.50 Td (eased t) Tj ET Q q 0 0 0 rg BT 407.54 417.50 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.07 417.50 Td (62.3%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 439.95 417.50 Td ( fr) Tj ET Q q 0 0 0 rg BT 448.58 417.50 Td (om ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 464.11 417.50 Td (61.8%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 488.99 417.50 Td ( when ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 405.50 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 405.50 Td (ompar) Tj ET Q q 0 0 0 rg BT 84.81 405.50 Td (ed t) Tj ET Q q 0 0 0 rg BT 100.55 405.50 Td (o the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 123.92 405.50 Td (same prior y) Tj ET Q q 0 0 0 rg BT 174.31 405.50 Td (ear period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 216.36 405.50 Td (. The Same Pr) Tj ET Q q 0 0 0 rg BT 271.61 405.50 Td (operty r) Tj ET Q q 0 0 0 rg BT 304.09 405.50 Td (ec) Tj ET Q q 0 0 0 rg BT 313.21 405.50 Td (o) Tj ET Q q 0 0 0 rg BT 318.44 405.50 Td (v) Tj ET Q q 0 0 0 rg BT 322.86 405.50 Td (er) Tj ET Q q 0 0 0 rg BT 331.37 405.50 Td (y mar) Tj ET Q q 0 0 0 rg BT 354.28 405.50 Td (gin f) Tj ET Q q 0 0 0 rg BT 371.64 405.50 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 398.50 405.50 Td (thr) Tj ET Q q 0 0 0 rg BT 410.46 405.50 Td (ee mon) Tj ET Q q 0 0 0 rg BT 441.09 405.50 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 500.52 405.50 Td (ch 31, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 393.50 Td (2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.27 393.50 Td ( w) Tj ET Q q 0 0 0 rg BT 83.57 393.50 Td (as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 94.53 393.50 Td (92.8%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 119.41 393.50 Td (, an incr) Tj ET Q q 0 0 0 rg BT 151.60 393.50 Td (ease of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 183.10 393.50 Td (2.6%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 202.91 393.50 Td ( fr) Tj ET Q q 0 0 0 rg BT 211.55 393.50 Td (om the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 242.91 393.50 Td (same prior y) Tj ET Q q 0 0 0 rg BT 293.30 393.50 Td (ear period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 335.35 393.50 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 372.50 Td (The f) Tj ET Q q 0 0 0 rg BT 74.21 372.50 Td (ollo) Tj ET Q q 0 0 0 rg BT 89.30 372.50 Td (wing t) Tj ET Q q 0 0 0 rg BT 114.20 372.50 Td (able summariz) Tj ET Q q 0 0 0 rg BT 173.21 372.50 Td (es the Compan) Tj ET Q q 0 0 0 rg BT 233.90 372.50 Td (y's pr) Tj ET Q q 0 0 0 rg BT 255.39 372.50 Td (oportiona) Tj ET Q q 0 0 0 rg BT 295.54 372.50 Td (t) Tj ET Q q 0 0 0 rg BT 298.79 372.50 Td (e in) Tj ET Q q 0 0 0 rg BT 313.48 372.50 Td (t) Tj ET Q q 0 0 0 rg BT 316.72 372.50 Td (er) Tj ET Q q 0 0 0 rg BT 325.05 372.50 Td (es) Tj ET Q q 0 0 0 rg BT 333.82 372.50 Td (t in NOI b) Tj ET Q q 0 0 0 rg BT 372.31 372.50 Td (y pr) Tj ET Q q 0 0 0 rg BT 387.67 372.50 Td (operty c) Tj ET Q q 0 0 0 rg BT 420.94 372.50 Td (a) Tj ET Q q 0 0 0 rg BT 425.64 372.50 Td (t) Tj ET Q q 0 0 0 rg BT 428.88 372.50 Td (eg) Tj ET Q q 0 0 0 rg BT 438.50 372.50 Td (oriz) Tj ET Q q 0 0 0 rg BT 453.34 372.50 Td (a) Tj ET Q q 0 0 0 rg BT 458.03 372.50 Td (tion:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 362 m 344.5 362 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 362 m 399.5 362 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 344.5 349 m 399.5 349 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 362 m 419.5 362 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399.5 349 m 419.5 349 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 362 m 474.5 362 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 349 m 474.5 349 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 362 m 494.5 362 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 349 m 494.5 349 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 362 m 549.5 362 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494.5 349 m 549.5 349 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 349 m 344.5 349 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 344.5 349 m 399.5 349 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399.5 349 m 419.5 349 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 349 m 474.5 349 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 349 m 494.5 349 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494.5 349 m 549.5 349 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 336 m 344.5 336 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 344.5 336 m 399.5 336 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399.5 336 m 419.5 336 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 336 m 474.5 336 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 336 m 494.5 336 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494.5 336 m 549.5 336 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 310 m 344.5 310 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 297 m 344.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 344.5 310 m 399.5 310 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 344.5 297 m 399.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399.5 310 m 419.5 310 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399.5 297 m 419.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 310 m 474.5 310 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 297 m 474.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 310 m 494.5 310 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 297 m 494.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494.5 310 m 549.5 310 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494.5 297 m 549.5 297 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 180 m 344.5 180 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 165 m 344.5 165 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 344.5 180 m 399.5 180 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 165 m 399.5 165 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399.5 180 m 419.5 180 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 165 m 419.5 165 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 180 m 474.5 180 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 165 m 474.5 165 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 180 m 494.5 180 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 165 m 494.5 165 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494.5 180 m 549.5 180 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 165 m 549.5 165 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 445.65 353.50 Td (Three months ended March 31) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 340.50 Td (\(thousands of dollars, except for percentages\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 365.15 340.50 Td (% change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.75 340.50 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 529.75 340.50 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 326.75 Td (Same Property stable NOI) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 381.15 326.75 Td (4.6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.55 326.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 422.00 326.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 446.00 326.75 Td (76,942) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.00 326.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.15 326.75 Td (73,564) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 313.75 Td (Same Property with incremental redevelopment and expansion NOI) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 381.15 313.75 Td (2.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.55 313.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 450.55 313.75 Td (8,585) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.75 313.75 Td (8,384) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 301.75 Td (Total Same Property) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 381.15 300.75 Td (4.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.55 300.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 446.00 300.75 Td (85,527) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.15 300.75 Td (81,948) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 287.75 Td (Major redevelopment) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 450.55 287.75 Td (9,734) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.75 287.75 Td (9,800) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 274.75 Td (Ground-up development) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.45 274.75 Td (999) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.75 274.75 Td (1,317) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 261.75 Td (Acquisitions 2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.45 261.75 Td (291) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.10 261.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 248.75 Td (Acquisitions 2014) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 450.55 248.75 Td (2,148) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.55 248.75 Td (940) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 235.75 Td (Investment properties classified as held for sale) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.45 235.75 Td (945) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.55 235.75 Td (788) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 222.75 Td (Dispositions 2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.55 222.75 Td (1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.10 222.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 209.75 Td (Dispositions 2014) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.45 209.75 Td (263) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.75 209.75 Td (2,608) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 196.75 Td (Rental revenue recognized on a straight-line basis) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 450.55 196.75 Td (1,248) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.75 196.75 Td (1,752) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 183.75 Td (Development land) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.45 183.75 Td (135) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.55 183.75 Td (220) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 169.75 Td (NOI) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 422.00 169.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 441.45 169.75 Td (101,291) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.00 169.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.15 169.75 Td (99,373) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 147.50 Td (Same ) Tj ET Q q 0 0 0 rg BT 78.51 147.50 Td (Pr) Tj ET Q q 0 0 0 rg BT 87.00 147.50 Td (operty ) Tj ET Q q 0 0 0 rg BT 116.03 147.50 Td (NOI ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 133.79 147.50 Td (incr) Tj ET Q q 0 0 0 rg BT 148.92 147.50 Td (eased) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 172.82 147.50 Td ( ) Tj ET Q q 0 0 0 rg BT 174.99 147.50 Td (b) Tj ET Q q 0 0 0 rg BT 180.19 147.50 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 186.88 147.50 Td (4.4%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 206.69 147.50 Td ( ) Tj ET Q q 0 0 0 rg BT 208.85 147.50 Td (f) Tj ET Q q 0 0 0 rg BT 211.69 147.50 Td (or ) Tj ET Q q 0 0 0 rg BT 222.61 147.50 Td (the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 238.35 147.50 Td (thr) Tj ET Q q 0 0 0 rg BT 250.31 147.50 Td (ee ) Tj ET Q q 0 0 0 rg BT 262.42 147.50 Td (mon) Tj ET Q q 0 0 0 rg BT 280.85 147.50 Td (ths ) Tj ET Q q 0 0 0 rg BT 295.52 147.50 Td (ended ) Tj ET Q q 0 0 0 rg BT 323.40 147.50 Td (Mar) Tj ET Q q 0 0 0 rg BT 340.08 147.50 Td (ch ) Tj ET Q q 0 0 0 rg BT 351.72 147.50 Td (31, ) Tj ET Q q 0 0 0 rg BT 366.52 147.50 Td (2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 386.79 147.50 Td ( ) Tj ET Q q 0 0 0 rg BT 388.95 147.50 Td (c) Tj ET Q q 0 0 0 rg BT 393.10 147.50 Td (ompar) Tj ET Q q 0 0 0 rg BT 419.76 147.50 Td (ed ) Tj ET Q q 0 0 0 rg BT 432.15 147.50 Td (t) Tj ET Q q 0 0 0 rg BT 435.40 147.50 Td (o ) Tj ET Q q 0 0 0 rg BT 442.83 147.50 Td (the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 458.57 147.50 Td (same ) Tj ET Q q 0 0 0 rg BT 482.40 147.50 Td (prior ) Tj ET Q q 0 0 0 rg BT 504.36 147.50 Td (y) Tj ET Q q 0 0 0 rg BT 508.76 147.50 Td (ear ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 135.50 Td (period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 80.54 135.50 Td (, ) Tj ET Q q 0 0 0 rg BT 85.04 135.50 Td (primarily ) Tj ET Q q 0 0 0 rg BT 123.47 135.50 Td (due ) Tj ET Q q 0 0 0 rg BT 140.96 135.50 Td (t) Tj ET Q q 0 0 0 rg BT 144.21 135.50 Td (o ) Tj ET Q q 0 0 0 rg BT 151.50 135.50 Td (incr) Tj ET Q q 0 0 0 rg BT 166.63 135.50 Td (eases ) Tj ET Q q 0 0 0 rg BT 191.20 135.50 Td (in ) Tj ET Q q 0 0 0 rg BT 200.76 135.50 Td (Same ) Tj ET Q q 0 0 0 rg BT 225.12 135.50 Td (Pr) Tj ET Q q 0 0 0 rg BT 233.61 135.50 Td (operty ) Tj ET Q q 0 0 0 rg BT 262.48 135.50 Td (occupancy) Tj ET Q q 0 0 0 rg BT 304.81 135.50 Td (, ) Tj ET Q q 0 0 0 rg BT 309.31 135.50 Td (r) Tj ET Q q 0 0 0 rg BT 312.66 135.50 Td (en) Tj ET Q q 0 0 0 rg BT 322.80 135.50 Td (t) Tj ET Q q 0 0 0 rg BT 326.03 135.50 Td (al ) Tj ET Q q 0 0 0 rg BT 335.12 135.50 Td (r) Tj ET Q q 0 0 0 rg BT 338.40 135.50 Td (a) Tj ET Q q 0 0 0 rg BT 343.10 135.50 Td (t) Tj ET Q q 0 0 0 rg BT 346.34 135.50 Td (es ) Tj ET Q q 0 0 0 rg BT 357.24 135.50 Td (due ) Tj ET Q q 0 0 0 rg BT 374.73 135.50 Td (t) Tj ET Q q 0 0 0 rg BT 377.98 135.50 Td (o ) Tj ET Q q 0 0 0 rg BT 385.27 135.50 Td (s) Tj ET Q q 0 0 0 rg BT 389.07 135.50 Td (t) Tj ET Q q 0 0 0 rg BT 392.31 135.50 Td (ep-up) Tj ET Q q 0 0 0 rg BT 416.06 135.50 Td (s, ) Tj ET Q q 0 0 0 rg BT 424.47 135.50 Td (lease ) Tj ET Q q 0 0 0 rg BT 447.43 135.50 Td (r) Tj ET Q q 0 0 0 rg BT 450.78 135.50 Td (ene) Tj ET Q q 0 0 0 rg BT 465.94 135.50 Td (w) Tj ET Q q 0 0 0 rg BT 472.98 135.50 Td (als ) Tj ET Q q 0 0 0 rg BT 485.98 135.50 Td (a) Tj ET Q q 0 0 0 rg BT 490.68 135.50 Td (t ) Tj ET Q q 0 0 0 rg BT 496.04 135.50 Td (higher ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 123.50 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 123.50 Td (en) Tj ET Q q 0 0 0 rg BT 67.49 123.50 Td (t) Tj ET Q q 0 0 0 rg BT 70.72 123.50 Td (al ) Tj ET Q q 0 0 0 rg BT 80.06 123.50 Td (r) Tj ET Q q 0 0 0 rg BT 83.35 123.50 Td (a) Tj ET Q q 0 0 0 rg BT 88.04 123.50 Td (t) Tj ET Q q 0 0 0 rg BT 91.29 123.50 Td (es, ) Tj ET Q q 0 0 0 rg BT 104.93 123.50 Td (and ) Tj ET Q q 0 0 0 rg BT 122.49 123.50 Td (t) Tj ET Q q 0 0 0 rg BT 125.73 123.50 Td (enan) Tj ET Q q 0 0 0 rg BT 145.91 123.50 Td (t ) Tj ET Q q 0 0 0 rg BT 151.52 123.50 Td (openings ) Tj ET Q q 0 0 0 rg BT 190.70 123.50 Td (with ) Tj ET Q q 0 0 0 rg BT 211.01 123.50 Td (higher ) Tj ET Q q 0 0 0 rg BT 239.24 123.50 Td (r) Tj ET Q q 0 0 0 rg BT 242.60 123.50 Td (en) Tj ET Q q 0 0 0 rg BT 252.74 123.50 Td (t) Tj ET Q q 0 0 0 rg BT 255.96 123.50 Td (al ) Tj ET Q q 0 0 0 rg BT 265.31 123.50 Td (r) Tj ET Q q 0 0 0 rg BT 268.59 123.50 Td (a) Tj ET Q q 0 0 0 rg BT 273.29 123.50 Td (t) Tj ET Q q 0 0 0 rg BT 276.53 123.50 Td (es ) Tj ET Q q 0 0 0 rg BT 287.68 123.50 Td (than ) Tj ET Q q 0 0 0 rg BT 308.58 123.50 Td (the ) Tj ET Q q 0 0 0 rg BT 324.42 123.50 Td (r) Tj ET Q q 0 0 0 rg BT 327.78 123.50 Td (en) Tj ET Q q 0 0 0 rg BT 337.92 123.50 Td (t) Tj ET Q q 0 0 0 rg BT 341.14 123.50 Td (al ) Tj ET Q q 0 0 0 rg BT 350.49 123.50 Td (r) Tj ET Q q 0 0 0 rg BT 353.77 123.50 Td (a) Tj ET Q q 0 0 0 rg BT 358.47 123.50 Td (t) Tj ET Q q 0 0 0 rg BT 361.71 123.50 Td (es ) Tj ET Q q 0 0 0 rg BT 372.86 123.50 Td (on ) Tj ET Q q 0 0 0 rg BT 385.65 123.50 Td (t) Tj ET Q q 0 0 0 rg BT 388.89 123.50 Td (enan) Tj ET Q q 0 0 0 rg BT 409.07 123.50 Td (t ) Tj ET Q q 0 0 0 rg BT 414.68 123.50 Td (closur) Tj ET Q q 0 0 0 rg BT 439.00 123.50 Td (es. ) Tj ET Q endstream endobj 77 0 obj <> endobj 78 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () 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0 0 rg BT 235.15 534.75 Td (42,305) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 266.00 534.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 295.15 534.75 Td (23,918) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 326.00 534.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 355.15 534.75 Td (33,513) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 386.00 534.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 414.15 534.75 Td (99,736) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 445.00 534.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 480.80 534.75 Td (\(363) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.25 534.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 534.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 534.75 Td (99,373) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 521.84 Td (\(1\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.06 518.50 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 518.50 Td (Other it) Tj ET Q q 0 0 0 rg BT 85.04 518.50 Td 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Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 500.50 Td (In c) Tj ET Q q 0 0 0 rg BT 68.18 500.50 Td (omparison t) Tj ET Q q 0 0 0 rg BT 117.22 500.50 Td (o the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.59 500.50 Td (thr) Tj ET Q q 0 0 0 rg BT 152.55 500.50 Td (ee mon) Tj ET Q q 0 0 0 rg BT 183.18 500.50 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 242.61 500.50 Td (ch 31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 289.52 500.50 Td (, E) Tj ET Q q 0 0 0 rg BT 299.00 500.50 Td (as) Tj ET Q q 0 0 0 rg BT 307.58 500.50 Td (t) Tj ET Q q 0 0 0 rg BT 310.83 500.50 Td (ern and W) Tj ET Q q 0 0 0 rg BT 352.89 500.50 Td (es) Tj ET Q q 0 0 0 rg BT 361.67 500.50 Td (t) Tj ET Q q 0 0 0 rg BT 364.91 500.50 Td (ern r) Tj ET Q q 0 0 0 rg BT 384.24 500.50 Td (egions e) Tj ET Q q 0 0 0 rg BT 417.74 500.50 Td (xperienced gr) Tj ET Q q 0 0 0 rg BT 473.06 500.50 Td (o) Tj ET Q q 0 0 0 rg BT 478.30 500.50 Td (w) Tj ET Q q 0 0 0 rg BT 485.46 500.50 Td (th in base r) Tj ET Q q 0 0 0 rg BT 530.68 500.50 Td (en) Tj ET Q q 0 0 0 rg BT 540.82 500.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 488.50 Td (and r) Tj ET Q q 0 0 0 rg BT 74.91 488.50 Td (ec) Tj ET Q q 0 0 0 rg BT 84.03 488.50 Td (o) Tj ET Q q 0 0 0 rg BT 89.26 488.50 Td (v) Tj ET Q q 0 0 0 rg BT 93.68 488.50 Td (eries fr) Tj ET Q q 0 0 0 rg BT 121.96 488.50 Td (om t) Tj ET Q q 0 0 0 rg BT 140.73 488.50 Td (enan) Tj ET Q q 0 0 0 rg BT 160.91 488.50 Td (ts r) Tj ET Q q 0 0 0 rg BT 173.79 488.50 Td (esulting fr) Tj ET Q q 0 0 0 rg BT 214.46 488.50 Td (om an incr) Tj ET Q q 0 0 0 rg BT 257.42 488.50 Td (ease in occupancy) Tj ET Q q 0 0 0 rg BT 330.47 488.50 Td (, in r) Tj ET Q q 0 0 0 rg BT 348.39 488.50 Td (en) Tj ET Q q 0 0 0 rg BT 358.53 488.50 Td (t) Tj ET Q q 0 0 0 rg BT 361.75 488.50 Td (al r) Tj ET Q q 0 0 0 rg BT 374.38 488.50 Td (a) Tj ET Q q 0 0 0 rg BT 379.08 488.50 Td (t) Tj ET Q q 0 0 0 rg BT 382.32 488.50 Td (es due t) Tj ET Q q 0 0 0 rg BT 414.46 488.50 Td (o s) Tj ET Q q 0 0 0 rg BT 425.80 488.50 Td (t) Tj ET Q q 0 0 0 rg BT 429.04 488.50 Td (ep-up) Tj ET Q q 0 0 0 rg BT 452.79 488.50 Td (s and lease r) Tj ET Q q 0 0 0 rg BT 503.08 488.50 Td (ene) Tj ET Q q 0 0 0 rg BT 518.24 488.50 Td (w) Tj ET Q q 0 0 0 rg BT 525.27 488.50 Td (als, in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 476.50 Td (addition t) Tj ET Q q 0 0 0 rg BT 93.28 476.50 Td (o an incr) Tj ET Q q 0 0 0 rg BT 128.25 476.50 Td (ease fr) Tj ET Q q 0 0 0 rg BT 155.54 476.50 Td (om ne) Tj ET Q q 0 0 0 rg BT 181.24 476.50 Td (t acquisitions and de) Tj ET Q q 0 0 0 rg BT 264.96 476.50 Td (v) Tj ET Q q 0 0 0 rg BT 269.38 476.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 305.30 476.50 Td (ts c) Tj ET Q q 0 0 0 rg BT 318.97 476.50 Td (oming online, with a) Tj ET Q q 0 0 0 rg BT 401.78 476.50 Td (v) Tj ET Q q 0 0 0 rg BT 406.20 476.50 Td (er) Tj ET Q q 0 0 0 rg BT 414.45 476.50 Td (ag) Tj ET Q q 0 0 0 rg BT 423.87 476.50 Td (e r) Tj ET Q q 0 0 0 rg BT 434.46 476.50 Td (en) Tj ET Q q 0 0 0 rg BT 444.60 476.50 Td (t) Tj ET Q q 0 0 0 rg BT 447.82 476.50 Td (al r) Tj ET Q q 0 0 0 rg BT 460.45 476.50 Td (a) Tj ET Q q 0 0 0 rg BT 465.15 476.50 Td (t) Tj ET Q q 0 0 0 rg BT 468.39 476.50 Td (es and r) Tj ET Q q 0 0 0 rg BT 500.45 476.50 Td (ec) Tj ET Q q 0 0 0 rg BT 509.57 476.50 Td (o) Tj ET Q q 0 0 0 rg BT 514.80 476.50 Td (v) Tj ET Q q 0 0 0 rg BT 519.22 476.50 Td (er) Tj ET Q q 0 0 0 rg BT 527.73 476.50 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 464.50 Td (t) Tj ET Q q 0 0 0 rg BT 57.24 464.50 Td (erms in e) Tj ET Q q 0 0 0 rg BT 94.50 464.50 Td (x) Tj ET Q q 0 0 0 rg BT 98.60 464.50 Td (cess of the r) Tj ET Q q 0 0 0 rg BT 147.67 464.50 Td (en) Tj ET Q q 0 0 0 rg BT 157.81 464.50 Td (t) Tj ET Q q 0 0 0 rg BT 161.04 464.50 Td (al r) Tj ET Q q 0 0 0 rg BT 173.66 464.50 Td (a) Tj ET Q q 0 0 0 rg BT 178.36 464.50 Td (t) Tj ET Q q 0 0 0 rg BT 181.60 464.50 Td (es and r) Tj ET Q q 0 0 0 rg BT 213.66 464.50 Td (ec) Tj ET Q q 0 0 0 rg BT 222.78 464.50 Td (o) Tj ET Q q 0 0 0 rg BT 228.01 464.50 Td (v) Tj ET Q q 0 0 0 rg BT 232.43 464.50 Td (er) Tj ET Q q 0 0 0 rg BT 240.94 464.50 Td (y t) Tj ET Q q 0 0 0 rg BT 250.97 464.50 Td (erms of disposed pr) Tj ET Q q 0 0 0 rg BT 331.15 464.50 Td (operties and closur) Tj ET Q q 0 0 0 rg BT 408.80 464.50 Td (es of spaces f) Tj ET Q q 0 0 0 rg BT 462.71 464.50 Td (or r) Tj ET Q q 0 0 0 rg BT 477.09 464.50 Td (ede) Tj ET Q q 0 0 0 rg BT 492.24 464.50 Td (v) Tj ET Q q 0 0 0 rg BT 496.66 464.50 Td (elopmen) Tj ET Q q 0 0 0 rg BT 532.58 464.50 Td (t.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 446.50 Td (The decr) Tj ET Q q 0 0 0 rg BT 89.18 446.50 Td (ease in Cen) Tj ET Q q 0 0 0 rg BT 135.37 446.50 Td (tr) Tj ET Q q 0 0 0 rg BT 142.00 446.50 Td (al r) Tj ET Q q 0 0 0 rg BT 154.70 446.50 Td (egion r) Tj ET Q q 0 0 0 rg BT 182.82 446.50 Td (en) Tj ET Q q 0 0 0 rg BT 192.96 446.50 Td (t) Tj ET Q q 0 0 0 rg BT 196.18 446.50 Td (al r) Tj ET Q q 0 0 0 rg BT 208.88 446.50 Td (e) Tj ET Q q 0 0 0 rg BT 213.81 446.50 Td (v) Tj ET Q q 0 0 0 rg BT 218.23 446.50 Td (enue o) Tj ET Q q 0 0 0 rg BT 246.18 446.50 Td (v) Tj ET Q q 0 0 0 rg BT 250.60 446.50 Td (er the same prior y) Tj ET Q q 0 0 0 rg BT 327.54 446.50 Td (ear period is primarily due t) Tj ET Q q 0 0 0 rg BT 440.00 446.50 Td (o a one-time se) Tj ET Q q 0 0 0 rg BT 502.85 446.50 Td (t) Tj ET Q q 0 0 0 rg BT 506.06 446.50 Td (tlemen) Tj ET Q q 0 0 0 rg BT 534.80 446.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 434.50 Td (f) Tj ET Q q 0 0 0 rg BT 56.80 434.50 Td (ee r) Tj ET Q q 0 0 0 rg BT 72.37 434.50 Td (eceiv) Tj ET Q q 0 0 0 rg BT 93.26 434.50 Td (ed fr) Tj ET Q q 0 0 0 rg BT 112.13 434.50 Td (om a t) Tj ET Q q 0 0 0 rg BT 137.95 434.50 Td (enan) Tj ET Q q 0 0 0 rg BT 158.13 434.50 Td (t in 2014 and pr) Tj ET Q q 0 0 0 rg BT 222.22 434.50 Td (operty dispositions c) Tj ET Q q 0 0 0 rg BT 306.03 434.50 Td (omple) Tj ET Q q 0 0 0 rg BT 331.76 434.50 Td (t) Tj ET Q q 0 0 0 rg BT 335.00 434.50 Td (ed in the prior y) Tj ET Q q 0 0 0 rg BT 399.60 434.50 Td (ear) Tj ET Q q 0 0 0 rg BT 411.85 434.50 Td (.) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 412.30 Td (In) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 62.73 412.30 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 66.41 412.30 Td (er) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 75.74 412.30 Td (es) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 85.54 412.30 Td (t and Other Inc) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 154.04 412.30 Td (ome) Tj ET Q BT /F3 10.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 397.30 Td (The Compan) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 105.07 397.30 Td (y's ) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 117.97 397.30 Td (pr) Tj ET Q q 0 0 0 rg BT 126.55 397.30 Td (oportiona) Tj ET Q q 0 0 0 rg BT 166.71 397.30 Td (t) Tj ET Q q 0 0 0 rg BT 169.95 397.30 Td (e shar) Tj ET Q q 0 0 0 rg BT 194.50 397.30 Td (e of ) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 212.32 397.30 Td (in) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 219.78 397.30 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 223.02 397.30 Td (er) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 231.35 397.30 Td (es) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 240.12 397.30 Td (t and other inc) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 299.59 397.30 Td (ome is as f) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 342.35 397.30 Td (ollo) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 357.45 397.30 Td (w) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 364.51 397.30 Td (s:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 386.8 m 428.5 386.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 386.8 m 483.5 386.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 386.8 m 503.5 386.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 386.8 m 558.5 386.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 373.8 m 428.5 373.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 360.8 m 428.5 360.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 373.8 m 483.5 373.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 360.8 m 483.5 360.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 373.8 m 503.5 373.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 360.8 m 503.5 360.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 373.8 m 558.5 373.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 360.8 m 558.5 360.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 360.8 m 483.5 360.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 360.8 m 503.5 360.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 360.8 m 558.5 360.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 319.8 m 428.5 319.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 304.8 m 428.5 304.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 319.8 m 483.5 319.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 304.8 m 483.5 304.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 319.8 m 503.5 319.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 304.8 m 503.5 304.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 319.8 m 558.5 319.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 304.8 m 558.5 304.8 l s BT /F3 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 454.65 378.30 Td (Three months ended March 31) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 365.30 Td (\(thousands of dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.75 365.30 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.75 365.30 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 351.55 Td (Interest, dividend and distribution income from marketable securities and cash investments) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 351.55 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.45 351.55 Td (652) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 351.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 351.55 Td (859) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 337.55 Td (Interest income from mortgages and loans receivable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 337.55 Td (2,842) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 337.55 Td (1,751) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 323.55 Td (Fees and other income) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.45 323.55 Td (406) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.10 323.55 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 309.55 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 309.55 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 309.55 Td (3,900) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 309.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 309.55 Td (2,610) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 287.30 Td (The incr) Tj ET Q q 0 0 0 rg BT 86.50 287.30 Td (ease in in) Tj ET Q q 0 0 0 rg BT 124.67 287.30 Td (t) Tj ET Q q 0 0 0 rg BT 127.92 287.30 Td (er) Tj ET Q q 0 0 0 rg BT 136.25 287.30 Td (es) Tj ET Q q 0 0 0 rg BT 145.02 287.30 Td (t and other inc) Tj ET Q q 0 0 0 rg BT 204.48 287.30 Td (ome f) Tj ET Q q 0 0 0 rg BT 227.82 287.30 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 254.68 287.30 Td (thr) Tj ET Q q 0 0 0 rg BT 266.64 287.30 Td (ee mon) Tj ET Q q 0 0 0 rg BT 297.28 287.30 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 356.71 287.30 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 403.61 287.30 Td ( is primarily due t) Tj ET Q q 0 0 0 rg BT 474.01 287.30 Td (o an incr) Tj ET Q q 0 0 0 rg BT 508.99 287.30 Td (ease in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 275.30 Td (mortg) Tj ET Q q 0 0 0 rg BT 78.62 275.30 Td (ag) Tj ET Q q 0 0 0 rg BT 88.03 275.30 Td (es and loans r) Tj ET Q q 0 0 0 rg BT 143.88 275.30 Td (eceiv) Tj ET Q q 0 0 0 rg BT 164.72 275.30 Td (able.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 257.30 Td (F) Tj ET Q q 0 0 0 rg BT 58.45 257.30 Td (ees and other inc) Tj ET Q q 0 0 0 rg BT 128.42 257.30 Td (ome r) Tj ET Q q 0 0 0 rg BT 152.28 257.30 Td (ela) Tj ET Q q 0 0 0 rg BT 164.24 257.30 Td (t) Tj ET Q q 0 0 0 rg BT 167.49 257.30 Td (e primarily t) Tj ET Q q 0 0 0 rg BT 216.65 257.30 Td (o asse) Tj ET Q q 0 0 0 rg BT 241.72 257.30 Td (t manag) Tj ET Q q 0 0 0 rg BT 274.78 257.30 Td (emen) Tj ET Q q 0 0 0 rg BT 297.88 257.30 Td (t f) Tj ET Q q 0 0 0 rg BT 306.29 257.30 Td (ees earned fr) Tj ET Q q 0 0 0 rg BT 359.79 257.30 Td (om Main and Main Urban R) Tj ET Q q 0 0 0 rg BT 471.88 257.30 Td (ealty) Tj ET Q q 0 0 0 rg BT 491.16 257.30 Td (.) 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w 0 i [] 0 d 0 J 0 j 3 M 503.5 525.25 m 558.5 525.25 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 454.65 659.75 Td (Three months ended March 31) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 645.75 Td (\(thousands of dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.75 646.75 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.75 646.75 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 633.00 Td (Mortgages and credit facilities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 633.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 633.00 Td (14,487) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 633.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 633.00 Td (16,647) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 620.00 Td (Senior unsecured debentures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 620.00 Td (26,153) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 620.00 Td (24,940) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 607.00 Td (Convertible debenture 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0 0 rg BT 458.93 495.75 Td (4.85%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.80 495.75 Td ( as a) Tj ET Q q 0 0 0 rg BT 501.72 495.75 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 507.33 495.75 Td (Mar) Tj ET Q q 0 0 0 rg BT 524.01 495.75 Td (ch31, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 483.75 Td (2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.27 483.75 Td ( t) Tj ET Q q 0 0 0 rg BT 79.79 483.75 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 87.32 483.75 Td (4.72%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 112.20 483.75 Td ( as a) Tj ET Q q 0 0 0 rg BT 130.12 483.75 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 135.73 483.75 Td (Mar) Tj ET Q q 0 0 0 rg BT 152.41 483.75 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 199.32 483.75 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 465.75 Td (The ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 71.36 465.75 Td (incr) Tj ET Q q 0 0 0 rg BT 86.50 465.75 Td (ease) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 105.15 465.75 Td ( in in) Tj ET Q q 0 0 0 rg BT 124.67 465.75 Td (t) Tj ET Q q 0 0 0 rg BT 127.92 465.75 Td (er) Tj ET Q q 0 0 0 rg BT 136.25 465.75 Td (es) Tj ET Q q 0 0 0 rg BT 145.02 465.75 Td (t e) Tj ET Q q 0 0 0 rg BT 155.46 465.75 Td (xpense f) Tj ET Q q 0 0 0 rg BT 189.26 465.75 Td (or the senior unsecur) Tj ET Q q 0 0 0 rg BT 275.81 465.75 Td (ed deben) Tj ET Q q 0 0 0 rg BT 313.92 465.75 Td (tur) Tj ET Q q 0 0 0 rg BT 325.88 465.75 Td (es f) Tj ET Q q 0 0 0 rg BT 339.86 465.75 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 366.72 465.75 Td (thr) Tj ET Q q 0 0 0 rg BT 378.68 465.75 Td (ee mon) Tj ET Q q 0 0 0 rg BT 409.32 465.75 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 468.75 465.75 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 515.66 465.75 Td ( 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429.75 Td (ag) Tj ET Q q 0 0 0 rg BT 421.65 429.75 Td (e c) Tj ET Q q 0 0 0 rg BT 433.03 429.75 Td (oupon r) Tj ET Q q 0 0 0 rg BT 464.88 429.75 Td (a) Tj ET Q q 0 0 0 rg BT 469.58 429.75 Td (t) Tj ET Q q 0 0 0 rg BT 472.82 429.75 Td (e of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.65 429.75 Td (5.67%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 515.52 429.75 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 417.75 Td (\(w) Tj ET Q q 0 0 0 rg BT 64.09 417.75 Td (eigh) Tj ET Q q 0 0 0 rg BT 81.23 417.75 Td (t) Tj ET Q q 0 0 0 rg BT 84.47 417.75 Td (ed a) Tj ET Q q 0 0 0 rg BT 101.59 417.75 Td (v) Tj ET Q q 0 0 0 rg BT 106.01 417.75 Td (er) Tj ET Q q 0 0 0 rg BT 114.26 417.75 Td (ag) Tj ET Q q 0 0 0 rg BT 123.68 417.75 Td (e e) Tj ET Q q 0 0 0 rg BT 135.80 417.75 Td (f) Tj ET Q q 0 0 0 rg BT 138.76 417.75 Td (f) Tj ET Q q 0 0 0 rg BT 141.56 417.75 Td (ectiv) Tj ET Q q 0 0 0 rg BT 160.83 417.75 Td (e r) Tj ET Q q 0 0 0 rg BT 171.34 417.75 Td (a) Tj ET Q q 0 0 0 rg BT 176.04 417.75 Td (t) Tj ET Q q 0 0 0 rg BT 179.28 417.75 Td (e of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 197.11 417.75 Td (5.84%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 221.98 417.75 Td (\) o) Tj ET Q q 0 0 0 rg BT 232.51 417.75 Td (v) Tj ET Q q 0 0 0 rg BT 236.92 417.75 Td (er the same period as described in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 394.72 417.75 Td (Capit) Tj ET Q q 0 0 0 rg BT 419.80 417.75 Td (al Structur) Tj ET Q q 0 0 0 rg BT 462.02 417.75 Td (e and Liquidity) Tj ET Q q 0 0 0 rg BT 521.84 417.75 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 526.03 417.75 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 405.75 Td (section of this MD&A) Tj ET Q q 0 0 0 rg BT 140.57 405.75 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 387.75 Td (During the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.25 387.75 Td (thr) Tj ET Q q 0 0 0 rg BT 111.21 387.75 Td (ee mon) Tj ET Q q 0 0 0 rg BT 141.84 387.75 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 201.27 387.75 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.18 387.75 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 268.00 387.75 Td (2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 288.27 387.75 Td (, appr) Tj ET Q q 0 0 0 rg BT 311.65 387.75 Td (o) Tj ET Q q 0 0 0 rg BT 316.73 387.75 Td (xima) Tj ET Q q 0 0 0 rg BT 336.04 387.75 Td (t) Tj ET Q q 0 0 0 rg BT 339.28 387.75 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 353.34 387.75 Td (10.6%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 378.22 387.75 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 398.04 387.75 Td (10.4%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.92 387.75 Td (, r) Tj ET Q q 0 0 0 rg BT 431.03 387.75 Td (espectiv) Tj ET Q q 0 0 0 rg BT 464.43 387.75 Td (ely) Tj ET Q q 0 0 0 rg BT 475.52 387.75 Td (, of in) Tj ET Q q 0 0 0 rg BT 498.32 387.75 Td (t) Tj ET Q q 0 0 0 rg BT 501.56 387.75 Td (er) Tj ET Q q 0 0 0 rg BT 509.89 387.75 Td (es) Tj ET Q q 0 0 0 rg BT 518.66 387.75 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 375.75 Td (e) Tj ET Q q 0 0 0 rg BT 58.82 375.75 Td (xpense w) Tj ET Q q 0 0 0 rg BT 96.82 375.75 Td (as c) Tj ET Q q 0 0 0 rg BT 111.93 375.75 Td (apit) Tj ET Q q 0 0 0 rg BT 127.50 375.75 Td (aliz) Tj ET Q q 0 0 0 rg BT 140.60 375.75 Td (ed t) Tj ET Q q 0 0 0 rg BT 156.34 375.75 Td (o r) Tj ET Q q 0 0 0 rg BT 167.23 375.75 Td (eal es) Tj ET Q q 0 0 0 rg BT 190.33 375.75 Td (t) Tj ET Q q 0 0 0 rg BT 193.56 375.75 Td (a) Tj ET Q q 0 0 0 rg BT 198.25 375.75 Td (t) Tj ET Q q 0 0 0 rg BT 201.50 375.75 Td (e in) Tj ET Q q 0 0 0 rg BT 216.11 375.75 Td (v) Tj ET Q q 0 0 0 rg BT 220.53 375.75 Td (es) Tj ET Q q 0 0 0 rg BT 229.31 375.75 Td (tmen) Tj ET Q q 0 0 0 rg BT 250.78 375.75 Td (ts f) Tj ET Q q 0 0 0 rg BT 263.15 375.75 Td (or pr) Tj ET Q q 0 0 0 rg BT 282.75 375.75 Td (operties under) Tj ET Q q 0 0 0 rg BT 342.61 375.75 Td (g) Tj ET Q q 0 0 0 rg BT 347.25 375.75 Td (oing de) Tj ET Q q 0 0 0 rg BT 377.22 375.75 Td (v) Tj ET Q q 0 0 0 rg BT 381.64 375.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 417.56 375.75 Td (t or r) Tj ET Q q 0 0 0 rg BT 437.55 375.75 Td (ede) Tj ET Q q 0 0 0 rg BT 452.71 375.75 Td (v) Tj ET Q q 0 0 0 rg BT 457.13 375.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 493.05 375.75 Td (t pr) Tj ET Q q 0 0 0 rg BT 507.24 375.75 Td (ojects. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 363.75 Td (Amoun) Tj ET Q q 0 0 0 rg BT 83.46 363.75 Td (ts c) Tj ET Q q 0 0 0 rg BT 97.13 363.75 Td (apit) Tj ET Q q 0 0 0 rg BT 112.70 363.75 Td (aliz) Tj ET Q q 0 0 0 rg BT 125.80 363.75 Td (ed ar) Tj ET Q q 0 0 0 rg BT 146.44 363.75 Td (e based on de) Tj ET Q q 0 0 0 rg BT 203.09 363.75 Td (v) Tj ET Q q 0 0 0 rg BT 207.51 363.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 243.43 363.75 Td (t and r) Tj ET Q q 0 0 0 rg BT 269.95 363.75 Td (ede) Tj ET Q q 0 0 0 rg BT 285.11 363.75 Td (v) Tj ET Q q 0 0 0 rg BT 289.53 363.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 325.45 363.75 Td (t pr) Tj ET Q q 0 0 0 rg BT 339.64 363.75 Td (ojects activ) Tj ET Q q 0 0 0 rg BT 385.11 363.75 Td (ely under) Tj ET Q q 0 0 0 rg BT 423.45 363.75 Td (w) Tj ET Q q 0 0 0 rg BT 430.48 363.75 Td (a) Tj ET Q q 0 0 0 rg BT 435.09 363.75 Td (y) Tj ET Q q 0 0 0 rg BT 438.96 363.75 Td (. The incr) Tj ET Q q 0 0 0 rg BT 476.24 363.75 Td (ease in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 351.75 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 351.75 Td (apit) Tj ET Q q 0 0 0 rg BT 73.71 351.75 Td (aliz) Tj ET Q q 0 0 0 rg BT 86.82 351.75 Td (ed in) Tj ET Q q 0 0 0 rg BT 106.76 351.75 Td (t) Tj ET Q q 0 0 0 rg BT 110.01 351.75 Td (er) Tj ET Q q 0 0 0 rg BT 118.34 351.75 Td (es) Tj ET Q q 0 0 0 rg BT 127.11 351.75 Td (t per) Tj ET Q q 0 0 0 rg BT 146.29 351.75 Td (cen) Tj ET Q q 0 0 0 rg BT 160.66 351.75 Td (t) Tj ET Q q 0 0 0 rg BT 163.88 351.75 Td (ag) Tj ET Q q 0 0 0 rg BT 173.30 351.75 Td (e is c) Tj ET Q q 0 0 0 rg BT 193.15 351.75 Td (ommensur) Tj ET Q q 0 0 0 rg BT 237.07 351.75 Td (a) Tj ET Q q 0 0 0 rg BT 241.77 351.75 Td (t) Tj ET Q q 0 0 0 rg BT 245.01 351.75 Td (e with the incr) Tj ET Q q 0 0 0 rg BT 303.53 351.75 Td (ease in de) Tj ET Q q 0 0 0 rg BT 344.43 351.75 Td (v) Tj ET Q q 0 0 0 rg BT 348.85 351.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 384.77 351.75 Td (t and r) Tj ET Q q 0 0 0 rg BT 411.29 351.75 Td (ede) Tj ET Q q 0 0 0 rg BT 426.45 351.75 Td (v) Tj ET Q q 0 0 0 rg BT 430.87 351.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 466.79 351.75 Td (t e) Tj ET Q q 0 0 0 rg BT 477.23 351.75 Td (xpenditur) Tj ET Q q 0 0 0 rg BT 516.55 351.75 Td (es ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 339.75 Td (primarily r) Tj ET Q q 0 0 0 rg BT 96.03 339.75 Td (esulting fr) Tj ET Q q 0 0 0 rg BT 136.71 339.75 Td (om ne) Tj ET Q q 0 0 0 rg BT 162.41 339.75 Td (w de) Tj ET Q q 0 0 0 rg BT 182.00 339.75 Td (v) Tj ET Q q 0 0 0 rg BT 186.42 339.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 222.34 339.75 Td (t pr) Tj ET Q q 0 0 0 rg BT 236.53 339.75 Td (ojects c) Tj ET Q q 0 0 0 rg BT 267.07 339.75 Td (ommenced. ) Tj ET Q endstream endobj 81 0 obj <> endobj 82 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (39) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F2 11.00 Tf ET q 0 0 0 rg BT 54.00 693.75 Td (Corpor) Tj ET Q q 0 0 0 rg BT 85.13 693.75 Td (a) Tj ET Q q 0 0 0 rg BT 90.46 693.75 Td (t) Tj ET Q q 0 0 0 rg BT 94.14 693.75 Td (e Expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 678.75 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 678.75 Td (y's pr) Tj ET Q q 0 0 0 rg BT 126.55 678.75 Td (oportiona) Tj ET Q q 0 0 0 rg BT 166.71 678.75 Td (t) Tj ET Q q 0 0 0 rg BT 169.95 678.75 Td (e shar) Tj ET Q q 0 0 0 rg BT 194.50 678.75 Td (e of c) Tj ET Q q 0 0 0 rg BT 216.47 678.75 Td (orpor) Tj ET Q q 0 0 0 rg BT 239.03 678.75 Td (a) Tj ET Q q 0 0 0 rg BT 243.73 678.75 Td (t) Tj ET Q q 0 0 0 rg BT 246.97 678.75 Td (e e) Tj ET Q q 0 0 0 rg BT 259.03 678.75 Td (xpenses is as f) Tj ET Q q 0 0 0 rg BT 316.18 678.75 Td (ollo) Tj ET Q q 0 0 0 rg BT 331.28 678.75 Td (w) Tj ET Q q 0 0 0 rg BT 338.34 678.75 Td (s:) Tj ET Q 1 1 1 rg /GS0 gs 54.50 668.25 372.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 668.25 m 426.5 668.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 668.25 m 481.5 668.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 655.25 m 481.5 655.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 668.25 m 501.5 668.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 481.5 655.25 m 501.5 655.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 668.25 m 556.5 668.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501.5 655.25 m 556.5 655.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 655.25 m 426.5 655.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 642.25 m 426.5 642.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 655.25 m 481.5 655.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 642.25 m 481.5 642.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 481.5 655.25 m 501.5 655.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 481.5 642.25 m 501.5 642.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501.5 655.25 m 556.5 655.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501.5 642.25 m 556.5 642.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 603.25 m 426.5 603.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 603.25 m 481.5 603.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 481.5 603.25 m 501.5 603.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501.5 603.25 m 556.5 603.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 576.25 m 426.5 576.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 561.25 m 426.5 561.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 576.25 m 481.5 576.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 561.25 m 481.5 561.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 481.5 576.25 m 501.5 576.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 561.25 m 501.5 561.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501.5 576.25 m 556.5 576.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 561.25 m 556.5 561.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 519.25 m 426.5 519.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 519.25 m 481.5 519.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 519.25 m 501.5 519.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 519.25 m 556.5 519.25 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 446.65 659.75 Td (Three months ended March 31) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 645.75 Td (\(thousands of dollars, except for percentages\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.00 646.75 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 536.00 646.75 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 633.00 Td (Salaries, wages and benefits) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 429.00 633.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 453.80 633.00 Td (7,759) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 504.00 633.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.05 633.00 Td (6,242) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 620.00 Td (Non-cash compensation) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 460.70 620.00 Td (782) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.85 620.00 Td (648) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 607.00 Td (Other corporate costs) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 453.80 607.00 Td (3,033) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.05 607.00 Td (2,675) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 594.00 Td (Total corporate expenses) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 449.25 594.00 Td (11,574) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.05 594.00 Td (9,565) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 581.00 Td (Amounts capitalized to investment properties under development and residential inventory) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 451.00 581.00 Td (\(2,089) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.40 581.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.30 581.00 Td (\(1,549) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.55 581.00 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 57.00 567.38 Td (Corporate expenses) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 432.00 566.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 453.80 566.00 Td (9,485) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 504.00 566.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.05 566.00 Td (8,016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 552.00 Td (Corporate expenses, excluding non-cash compensation and incremental leasing costs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 538.00 Td (As a percentage of rental revenue) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 462.85 538.00 Td (4.7) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.40 538.00 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.15 538.00 Td (3.5) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.55 538.00 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 524.00 Td (As a percentage of total assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 462.85 524.00 Td (0.4) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.40 524.00 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.15 524.00 Td (0.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.55 524.00 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 501.75 Td (Ne) Tj ET Q q 0 0 0 rg BT 65.38 501.75 Td (t c) Tj ET Q q 0 0 0 rg BT 75.13 501.75 Td (orpor) Tj ET Q q 0 0 0 rg BT 97.70 501.75 Td (a) Tj ET Q q 0 0 0 rg BT 102.40 501.75 Td (t) Tj ET Q q 0 0 0 rg BT 105.64 501.75 Td (e e) Tj ET Q q 0 0 0 rg BT 117.70 501.75 Td (xpenses ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 152.57 501.75 Td (incr) Tj ET Q q 0 0 0 rg BT 167.71 501.75 Td (eased) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 191.61 501.75 Td ( b) Tj ET Q q 0 0 0 rg BT 199.08 501.75 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 205.87 501.75 Td ($1.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 253.55 501.75 Td ( f) Tj ET Q q 0 0 0 rg BT 258.65 501.75 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 285.51 501.75 Td (thr) Tj ET Q q 0 0 0 rg BT 297.47 501.75 Td (ee mon) Tj ET Q q 0 0 0 rg BT 328.11 501.75 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 387.54 501.75 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.44 501.75 Td ( c) Tj ET Q q 0 0 0 rg BT 440.85 501.75 Td (ompar) Tj ET Q q 0 0 0 rg BT 467.51 501.75 Td (ed t) Tj ET Q q 0 0 0 rg BT 483.25 501.75 Td (o the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.63 501.75 Td (same ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 489.75 Td (prior y) Tj ET Q q 0 0 0 rg BT 80.46 489.75 Td (ear period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 122.51 489.75 Td (. The incr) Tj ET Q q 0 0 0 rg BT 159.79 489.75 Td (ease is primarily the r) Tj ET Q q 0 0 0 rg BT 247.04 489.75 Td (esult of higher c) Tj ET Q q 0 0 0 rg BT 312.05 489.75 Td (orpor) Tj ET Q q 0 0 0 rg BT 334.62 489.75 Td (a) Tj ET Q q 0 0 0 rg BT 339.32 489.75 Td (t) Tj ET Q q 0 0 0 rg BT 342.56 489.75 Td (e e) Tj ET Q q 0 0 0 rg BT 354.62 489.75 Td (xpenses r) Tj ET Q q 0 0 0 rg BT 392.85 489.75 Td (ela) Tj ET Q q 0 0 0 rg BT 404.82 489.75 Td (t) Tj ET Q q 0 0 0 rg BT 408.06 489.75 Td (ed t) Tj ET Q q 0 0 0 rg BT 423.80 489.75 Td (o Main and Main ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 477.75 Td (De) Tj ET Q q 0 0 0 rg BT 65.08 477.75 Td (v) Tj ET Q q 0 0 0 rg BT 69.50 477.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 105.42 477.75 Td (ts due t) Tj ET Q q 0 0 0 rg BT 135.94 477.75 Td (o the gr) Tj ET Q q 0 0 0 rg BT 167.34 477.75 Td (o) Tj ET Q q 0 0 0 rg BT 172.58 477.75 Td (w) Tj ET Q q 0 0 0 rg BT 179.75 477.75 Td (th of its business, higher c) Tj ET Q q 0 0 0 rg BT 284.91 477.75 Td (ompensa) Tj ET Q q 0 0 0 rg BT 322.27 477.75 Td (tion e) Tj ET Q q 0 0 0 rg BT 345.52 477.75 Td (xpense, e) Tj ET Q q 0 0 0 rg BT 383.80 477.75 Td (xpenses r) Tj ET Q q 0 0 0 rg BT 422.03 477.75 Td (ela) Tj ET Q q 0 0 0 rg BT 434.00 477.75 Td (t) Tj ET Q q 0 0 0 rg BT 437.24 477.75 Td (ed t) Tj ET Q q 0 0 0 rg BT 452.98 477.75 Td (o s) Tj ET Q q 0 0 0 rg BT 464.32 477.75 Td (t) Tj ET Q q 0 0 0 rg BT 467.54 477.75 Td (a) Tj ET Q q 0 0 0 rg BT 472.28 477.75 Td (f) Tj ET Q q 0 0 0 rg BT 475.23 477.75 Td (f turno) Tj ET Q q 0 0 0 rg BT 503.12 477.75 Td (v) Tj ET Q q 0 0 0 rg BT 507.54 477.75 Td (er and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 465.75 Td (incr) Tj ET Q q 0 0 0 rg BT 69.13 465.75 Td (eased De) Tj ET Q q 0 0 0 rg BT 106.34 465.75 Td (f) Tj ET Q q 0 0 0 rg BT 109.14 465.75 Td (err) Tj ET Q q 0 0 0 rg BT 120.96 465.75 Td (ed Shar) Tj ET Q q 0 0 0 rg BT 151.44 465.75 Td (e Units \(DSU\) se) Tj ET Q q 0 0 0 rg BT 224.85 465.75 Td (t) Tj ET Q q 0 0 0 rg BT 228.06 465.75 Td (tlemen) Tj ET Q q 0 0 0 rg BT 256.81 465.75 Td (t c) Tj ET Q q 0 0 0 rg BT 266.56 465.75 Td (os) Tj ET Q q 0 0 0 rg BT 275.64 465.75 Td (t r) Tj ET Q q 0 0 0 rg BT 284.60 465.75 Td (ela) Tj ET Q q 0 0 0 rg BT 296.57 465.75 Td (t) Tj ET Q q 0 0 0 rg BT 299.81 465.75 Td (ed t) Tj ET Q q 0 0 0 rg BT 315.55 465.75 Td (o r) Tj ET Q q 0 0 0 rg BT 326.44 465.75 Td (e) Tj ET Q q 0 0 0 rg BT 331.36 465.75 Td (tir) Tj ET Q q 0 0 0 rg BT 340.36 465.75 Td (ed boar) Tj ET Q q 0 0 0 rg BT 371.52 465.75 Td (d member) Tj ET Q q 0 0 0 rg BT 413.53 465.75 Td (s.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 447.75 Td (Non-c) Tj ET Q q 0 0 0 rg BT 78.19 447.75 Td (ash c) Tj ET Q q 0 0 0 rg BT 98.55 447.75 Td (ompensa) Tj ET Q q 0 0 0 rg BT 135.90 447.75 Td (tion is r) Tj ET Q q 0 0 0 rg BT 166.16 447.75 Td (ec) Tj ET Q q 0 0 0 rg BT 175.28 447.75 Td (ogniz) Tj ET Q q 0 0 0 rg BT 196.53 447.75 Td (ed o) Tj ET Q q 0 0 0 rg BT 214.25 447.75 Td (v) Tj ET Q q 0 0 0 rg BT 218.67 447.75 Td (er the r) Tj ET Q q 0 0 0 rg BT 248.59 447.75 Td (espectiv) Tj ET Q q 0 0 0 rg BT 282.00 447.75 Td (e v) Tj ET Q q 0 0 0 rg BT 293.65 447.75 Td (es) Tj ET Q q 0 0 0 rg BT 302.43 447.75 Td (ting periods f) Tj ET Q q 0 0 0 rg BT 355.85 447.75 Td (or op) Tj ET Q q 0 0 0 rg BT 377.35 447.75 Td (tions, r) Tj ET Q q 0 0 0 rg BT 405.54 447.75 Td (es) Tj ET Q q 0 0 0 rg BT 414.32 447.75 Td (trict) Tj ET Q q 0 0 0 rg BT 430.92 447.75 Td (ed shar) Tj ET Q q 0 0 0 rg BT 460.72 447.75 Td (e units and de) Tj ET Q q 0 0 0 rg BT 517.98 447.75 Td (f) Tj ET Q q 0 0 0 rg BT 520.78 447.75 Td (err) Tj ET Q q 0 0 0 rg BT 532.60 447.75 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 435.75 Td (shar) Tj ET Q q 0 0 0 rg BT 71.31 435.75 Td (e units. These it) Tj ET Q q 0 0 0 rg BT 135.18 435.75 Td (ems ar) Tj ET Q q 0 0 0 rg BT 162.46 435.75 Td (e c) Tj ET Q q 0 0 0 rg BT 173.84 435.75 Td (onsider) Tj ET Q q 0 0 0 rg BT 204.16 435.75 Td (ed part of the t) Tj ET Q q 0 0 0 rg BT 265.47 435.75 Td (ot) Tj ET Q q 0 0 0 rg BT 273.97 435.75 Td (al c) Tj ET Q q 0 0 0 rg BT 287.46 435.75 Td (ompensa) Tj ET Q q 0 0 0 rg BT 324.82 435.75 Td (tion f) Tj ET Q q 0 0 0 rg BT 346.09 435.75 Td (or dir) Tj ET Q q 0 0 0 rg BT 368.01 435.75 Td (ect) Tj ET Q q 0 0 0 rg BT 380.47 435.75 Td (or) Tj ET Q q 0 0 0 rg BT 389.06 435.75 Td (s, senior manag) Tj ET Q q 0 0 0 rg BT 452.63 435.75 Td (emen) Tj ET Q q 0 0 0 rg BT 475.73 435.75 Td (t and other t) Tj ET Q q 0 0 0 rg BT 526.74 435.75 Td (eam ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 423.75 Td (member) Tj ET Q q 0 0 0 rg BT 88.50 423.75 Td (s.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 405.75 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 405.75 Td (y manag) Tj ET Q q 0 0 0 rg BT 139.30 405.75 Td (es all of its acquisitions, de) Tj ET Q q 0 0 0 rg BT 247.54 405.75 Td (v) Tj ET Q q 0 0 0 rg BT 251.96 405.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 287.88 405.75 Td (t and r) Tj ET Q q 0 0 0 rg BT 314.41 405.75 Td (ede) Tj ET Q q 0 0 0 rg BT 329.56 405.75 Td (v) Tj ET Q q 0 0 0 rg BT 333.98 405.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 369.90 405.75 Td (t and leasing activities in) Tj ET Q q 0 0 0 rg BT 469.28 405.75 Td (t) Tj ET Q q 0 0 0 rg BT 472.53 405.75 Td (ernally) Tj ET Q q 0 0 0 rg BT 499.49 405.75 Td (. Cert) Tj ET Q q 0 0 0 rg BT 521.29 405.75 Td (ain ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 393.75 Td (in) Tj ET Q q 0 0 0 rg BT 61.46 393.75 Td (t) Tj ET Q q 0 0 0 rg BT 64.70 393.75 Td (ernal c) Tj ET Q q 0 0 0 rg BT 91.91 393.75 Td (os) Tj ET Q q 0 0 0 rg BT 100.98 393.75 Td (ts dir) Tj ET Q q 0 0 0 rg BT 121.40 393.75 Td (ectly r) Tj ET Q q 0 0 0 rg BT 146.39 393.75 Td (ela) Tj ET Q q 0 0 0 rg BT 158.36 393.75 Td (t) Tj ET Q q 0 0 0 rg BT 161.60 393.75 Td (ed t) Tj ET Q q 0 0 0 rg BT 177.34 393.75 Td (o de) Tj ET Q q 0 0 0 rg BT 195.06 393.75 Td (v) Tj ET Q q 0 0 0 rg BT 199.48 393.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 235.40 393.75 Td (t, including salaries and r) Tj ET Q q 0 0 0 rg BT 336.23 393.75 Td (ela) Tj ET Q q 0 0 0 rg BT 348.20 393.75 Td (t) Tj ET Q q 0 0 0 rg BT 351.44 393.75 Td (ed c) Tj ET Q q 0 0 0 rg BT 368.08 393.75 Td (os) Tj ET Q q 0 0 0 rg BT 377.15 393.75 Td (ts f) Tj ET Q q 0 0 0 rg BT 389.51 393.75 Td (or planning) Tj ET Q q 0 0 0 rg BT 435.75 393.75 Td (, z) Tj ET Q q 0 0 0 rg BT 444.23 393.75 Td (oning) Tj ET Q q 0 0 0 rg BT 467.13 393.75 Td (, leasing) Tj ET Q q 0 0 0 rg BT 500.23 393.75 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 381.75 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 381.75 Td (ons) Tj ET Q q 0 0 0 rg BT 72.47 381.75 Td (truction and so f) Tj ET Q q 0 0 0 rg BT 139.07 381.75 Td (orth, ar) Tj ET Q q 0 0 0 rg BT 169.33 381.75 Td (e c) Tj ET Q q 0 0 0 rg BT 180.71 381.75 Td (apit) Tj ET Q q 0 0 0 rg BT 196.28 381.75 Td (aliz) Tj ET Q q 0 0 0 rg BT 209.39 381.75 Td (ed in acc) Tj ET Q q 0 0 0 rg BT 244.85 381.75 Td (or) Tj ET Q q 0 0 0 rg BT 253.47 381.75 Td (dance with IFR) Tj ET Q q 0 0 0 rg BT 312.96 381.75 Td (S t) Tj ET Q q 0 0 0 rg BT 323.06 381.75 Td (o de) Tj ET Q q 0 0 0 rg BT 340.78 381.75 Td (v) Tj ET Q q 0 0 0 rg BT 345.20 381.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 381.12 381.75 Td (t pr) Tj ET Q q 0 0 0 rg BT 395.31 381.75 Td (ojects and r) Tj ET Q q 0 0 0 rg BT 442.61 381.75 Td (esiden) Tj ET Q q 0 0 0 rg BT 469.19 381.75 Td (tial in) Tj ET Q q 0 0 0 rg BT 491.56 381.75 Td (v) Tj ET Q q 0 0 0 rg BT 495.98 381.75 Td (en) Tj ET Q q 0 0 0 rg BT 506.11 381.75 Td (t) Tj ET Q q 0 0 0 rg BT 509.37 381.75 Td (or) Tj ET Q q 0 0 0 rg BT 518.17 381.75 Td (y) Tj ET Q q 0 0 0 rg BT 521.99 381.75 Td (, as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 369.75 Td (incurr) Tj ET Q q 0 0 0 rg BT 77.87 369.75 Td (ed. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 351.75 Td (During the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.25 351.75 Td (thr) Tj ET Q q 0 0 0 rg BT 111.21 351.75 Td (ee mon) Tj ET Q q 0 0 0 rg BT 141.84 351.75 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 201.27 351.75 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.18 351.75 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 268.00 351.75 Td (2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 288.27 351.75 Td (, appr) Tj ET Q q 0 0 0 rg BT 311.65 351.75 Td (o) Tj ET Q q 0 0 0 rg BT 316.73 351.75 Td (xima) Tj ET Q q 0 0 0 rg BT 336.04 351.75 Td (t) Tj ET Q q 0 0 0 rg BT 339.28 351.75 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 353.34 351.75 Td (19.4%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 378.22 351.75 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 398.04 351.75 Td (17.4%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.92 351.75 Td (, r) Tj ET Q q 0 0 0 rg BT 431.03 351.75 Td (espectiv) Tj ET Q q 0 0 0 rg BT 464.43 351.75 Td (ely) Tj ET Q q 0 0 0 rg BT 475.52 351.75 Td (, of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 339.75 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 339.75 Td (ompensa) Tj ET Q q 0 0 0 rg BT 95.50 339.75 Td (tion-r) Tj ET Q q 0 0 0 rg BT 118.09 339.75 Td (ela) Tj ET Q q 0 0 0 rg BT 130.05 339.75 Td (t) Tj ET Q q 0 0 0 rg BT 133.30 339.75 Td (ed and other c) Tj ET Q q 0 0 0 rg BT 192.09 339.75 Td (orpor) Tj ET Q q 0 0 0 rg BT 214.66 339.75 Td (a) Tj ET Q q 0 0 0 rg BT 219.36 339.75 Td (t) Tj ET Q q 0 0 0 rg BT 222.60 339.75 Td (e e) Tj ET Q q 0 0 0 rg BT 234.66 339.75 Td (xpenses w) Tj ET Q q 0 0 0 rg BT 276.59 339.75 Td (er) Tj ET Q q 0 0 0 rg BT 284.92 339.75 Td (e c) Tj ET Q q 0 0 0 rg BT 296.30 339.75 Td (apit) Tj ET Q q 0 0 0 rg BT 311.87 339.75 Td (aliz) Tj ET Q q 0 0 0 rg BT 324.98 339.75 Td (ed t) Tj ET Q q 0 0 0 rg BT 340.72 339.75 Td (o r) Tj ET Q q 0 0 0 rg BT 351.61 339.75 Td (eal es) Tj ET Q q 0 0 0 rg BT 374.70 339.75 Td (t) Tj ET Q q 0 0 0 rg BT 377.93 339.75 Td (a) Tj ET Q q 0 0 0 rg BT 382.63 339.75 Td (t) Tj ET Q q 0 0 0 rg BT 385.87 339.75 Td (e in) Tj ET Q q 0 0 0 rg BT 400.49 339.75 Td (v) Tj ET Q q 0 0 0 rg BT 404.91 339.75 Td (es) Tj ET Q q 0 0 0 rg BT 413.68 339.75 Td (tmen) Tj ET Q q 0 0 0 rg BT 435.16 339.75 Td (ts f) Tj ET Q q 0 0 0 rg BT 447.52 339.75 Td (or pr) Tj ET Q q 0 0 0 rg BT 467.12 339.75 Td (operties ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 327.75 Td (under) Tj ET Q q 0 0 0 rg BT 78.09 327.75 Td (g) Tj ET Q q 0 0 0 rg BT 82.73 327.75 Td (oing de) Tj ET Q q 0 0 0 rg BT 112.70 327.75 Td (v) Tj ET Q q 0 0 0 rg BT 117.12 327.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 153.04 327.75 Td (t or r) Tj ET Q q 0 0 0 rg BT 173.02 327.75 Td (ede) Tj ET Q q 0 0 0 rg BT 188.18 327.75 Td (v) Tj ET Q q 0 0 0 rg BT 192.60 327.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 228.52 327.75 Td (t pr) Tj ET Q q 0 0 0 rg BT 242.71 327.75 Td (ojects. Amoun) Tj ET Q q 0 0 0 rg BT 301.09 327.75 Td (ts c) Tj ET Q q 0 0 0 rg BT 314.76 327.75 Td (apit) Tj ET Q q 0 0 0 rg BT 330.32 327.75 Td (aliz) Tj ET Q q 0 0 0 rg BT 343.43 327.75 Td (ed ar) Tj ET Q q 0 0 0 rg BT 364.06 327.75 Td (e based on de) Tj ET Q q 0 0 0 rg BT 420.71 327.75 Td (v) Tj ET Q q 0 0 0 rg BT 425.13 327.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 461.06 327.75 Td (t and pr) Tj ET Q q 0 0 0 rg BT 492.83 327.75 Td (e-) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 315.75 Td (de) Tj ET Q q 0 0 0 rg BT 64.18 315.75 Td (v) Tj ET Q q 0 0 0 rg BT 68.60 315.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 104.52 315.75 Td (t pr) Tj ET Q q 0 0 0 rg BT 118.71 315.75 Td (ojects under) Tj ET Q q 0 0 0 rg BT 169.38 315.75 Td (w) Tj ET Q q 0 0 0 rg BT 176.42 315.75 Td (a) Tj ET Q q 0 0 0 rg BT 181.02 315.75 Td (y) Tj ET Q q 0 0 0 rg BT 184.89 315.75 Td (. The incr) Tj ET Q q 0 0 0 rg BT 222.17 315.75 Td (ease in c) Tj ET Q q 0 0 0 rg BT 257.04 315.75 Td (apit) Tj ET Q q 0 0 0 rg BT 272.60 315.75 Td (aliz) Tj ET Q q 0 0 0 rg BT 285.71 315.75 Td (ed c) Tj ET Q q 0 0 0 rg BT 302.34 315.75 Td (orpor) Tj ET Q q 0 0 0 rg BT 324.91 315.75 Td (a) Tj ET Q q 0 0 0 rg BT 329.61 315.75 Td (t) Tj ET Q q 0 0 0 rg BT 332.85 315.75 Td (e e) Tj ET Q q 0 0 0 rg BT 344.91 315.75 Td (xpenses r) Tj ET Q q 0 0 0 rg BT 383.14 315.75 Td (esult) Tj ET Q q 0 0 0 rg BT 402.82 315.75 Td (ed fr) Tj ET Q q 0 0 0 rg BT 421.69 315.75 Td (om the c) Tj ET Q q 0 0 0 rg BT 457.19 315.75 Td (ommencemen) Tj ET Q q 0 0 0 rg BT 516.00 315.75 Td (t of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 303.75 Td (cert) Tj ET Q q 0 0 0 rg BT 69.92 303.75 Td (ain signific) Tj ET Q q 0 0 0 rg BT 112.47 303.75 Td (an) Tj ET Q q 0 0 0 rg BT 122.42 303.75 Td (t de) Tj ET Q q 0 0 0 rg BT 138.21 303.75 Td (v) Tj ET Q q 0 0 0 rg BT 142.63 303.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 178.56 303.75 Td (t and r) Tj ET Q q 0 0 0 rg BT 205.08 303.75 Td (ede) Tj ET Q q 0 0 0 rg BT 220.24 303.75 Td (v) Tj ET Q q 0 0 0 rg BT 224.65 303.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 260.58 303.75 Td (t pr) Tj ET Q q 0 0 0 rg BT 274.77 303.75 Td (ojects in the curr) Tj ET Q q 0 0 0 rg BT 343.13 303.75 Td (en) Tj ET Q q 0 0 0 rg BT 353.27 303.75 Td (t y) Tj ET Q q 0 0 0 rg BT 363.28 303.75 Td (ear) Tj ET Q q 0 0 0 rg BT 375.53 303.75 Td (. The timing of c) Tj ET Q q 0 0 0 rg BT 440.56 303.75 Td (omple) Tj ET Q q 0 0 0 rg BT 466.29 303.75 Td (tion of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 291.75 Td (de) Tj ET Q q 0 0 0 rg BT 64.18 291.75 Td (v) Tj ET Q q 0 0 0 rg BT 68.60 291.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 104.52 291.75 Td (t and r) Tj ET Q q 0 0 0 rg BT 131.05 291.75 Td (ede) Tj ET Q q 0 0 0 rg BT 146.20 291.75 Td (v) Tj ET Q q 0 0 0 rg BT 150.62 291.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 186.54 291.75 Td (t pr) Tj ET Q q 0 0 0 rg BT 200.73 291.75 Td (ojects and the Compan) Tj ET Q q 0 0 0 rg BT 294.23 291.75 Td (y) Tj ET Q q 0 0 0 rg BT 299.06 291.75 Td () Tj ET Q q 0 0 0 rg BT 300.94 291.75 Td (s curr) Tj ET Q q 0 0 0 rg BT 323.44 291.75 Td (en) Tj ET Q q 0 0 0 rg BT 333.58 291.75 Td (t le) Tj ET Q q 0 0 0 rg BT 346.41 291.75 Td (v) Tj ET Q q 0 0 0 rg BT 350.83 291.75 Td (el of pr) Tj ET Q q 0 0 0 rg BT 379.55 291.75 Td (e-de) Tj ET Q q 0 0 0 rg BT 397.77 291.75 Td (v) Tj ET Q q 0 0 0 rg BT 402.19 291.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 438.11 291.75 Td (t and early r) Tj ET Q q 0 0 0 rg BT 486.97 291.75 Td (ede) Tj ET Q q 0 0 0 rg BT 502.13 291.75 Td (v) Tj ET Q q 0 0 0 rg BT 506.54 291.75 Td (elopmen) Tj ET Q q 0 0 0 rg BT 542.47 291.75 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 279.75 Td (activity is c) Tj ET Q q 0 0 0 rg BT 98.22 279.75 Td (ommensur) Tj ET Q q 0 0 0 rg BT 142.15 279.75 Td (a) Tj ET Q q 0 0 0 rg BT 146.85 279.75 Td (t) Tj ET Q q 0 0 0 rg BT 150.09 279.75 Td (e with the incr) Tj ET Q q 0 0 0 rg BT 208.60 279.75 Td (ease in the le) Tj ET Q q 0 0 0 rg BT 262.39 279.75 Td (v) Tj ET Q q 0 0 0 rg BT 266.81 279.75 Td (el of c) Tj ET Q q 0 0 0 rg BT 291.07 279.75 Td (orpor) Tj ET Q q 0 0 0 rg BT 313.64 279.75 Td (a) Tj ET Q q 0 0 0 rg BT 318.34 279.75 Td (t) Tj ET Q q 0 0 0 rg BT 321.58 279.75 Td (e e) Tj ET Q q 0 0 0 rg BT 333.64 279.75 Td (xpenses c) Tj ET Q q 0 0 0 rg BT 372.66 279.75 Td (apit) Tj ET Q q 0 0 0 rg BT 388.22 279.75 Td (aliz) Tj ET Q q 0 0 0 rg BT 401.33 279.75 Td (ed c) Tj ET Q q 0 0 0 rg BT 417.96 279.75 Td (ompar) Tj ET Q q 0 0 0 rg BT 444.63 279.75 Td (ed t) Tj ET Q q 0 0 0 rg BT 460.37 279.75 Td (o the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.74 279.75 Td (same prior y) Tj ET Q q 0 0 0 rg BT 534.13 279.75 Td (ear ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 267.75 Td (period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 80.54 267.75 Td (.) Tj ET Q endstream endobj 83 0 obj <> endobj 84 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (40) Tj ET Q BT /F1 10.00 Tf ET BT /F2 11.00 Tf ET q 0 0 0 rg BT 54.00 693.75 Td (Other Gains \(Losses\) and \(Expenses\)) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 683.25 m 258.5 683.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 670.25 m 258.5 670.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258.5 683.25 m 308.5 683.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 670.25 m 308.5 670.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 683.25 m 358.5 683.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 308.5 670.25 m 358.5 670.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 683.25 m 408.5 683.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 358.5 670.25 m 408.5 670.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 683.25 m 458.5 683.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 670.25 m 458.5 670.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 683.25 m 508.5 683.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 458.5 670.25 m 508.5 670.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 683.25 m 558.5 683.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 508.5 670.25 m 558.5 670.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 657.25 m 258.5 657.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 623.25 m 258.5 623.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 657.25 m 308.5 657.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 623.25 m 308.5 623.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 308.5 657.25 m 358.5 657.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 308.5 623.25 m 358.5 623.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 358.5 657.25 m 408.5 657.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 358.5 623.25 m 408.5 623.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 657.25 m 458.5 657.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 623.25 m 458.5 623.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 458.5 657.25 m 508.5 657.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 458.5 623.25 m 508.5 623.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 508.5 657.25 m 558.5 657.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 508.5 623.25 m 558.5 623.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 623.25 m 258.5 623.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 536.25 m 258.5 536.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 521.25 m 258.5 521.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 536.25 m 308.5 536.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258.5 521.25 m 308.5 521.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 308.5 536.25 m 358.5 536.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 521.25 m 358.5 521.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 358.5 536.25 m 408.5 536.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 521.25 m 408.5 521.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 536.25 m 458.5 536.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 521.25 m 458.5 521.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 458.5 536.25 m 508.5 536.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 521.25 m 508.5 521.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 508.5 536.25 m 558.5 536.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 521.25 m 558.5 521.25 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 454.65 674.75 Td (Three months ended March 31) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.75 661.75 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.75 661.75 Td (2014) Tj ET Q BT /F4 7.50 Tf ET q 0 0 0 rg BT 57.00 627.63 Td (\(thousands of dollars\)) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 270.55 649.13 Td (Included in) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 264.25 641.63 Td (Consolidated) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 261.45 634.13 Td (Statements of) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 281.95 626.63 Td (Income) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 320.55 635.13 Td (Included in) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 343.05 627.63 Td (FFO) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 370.55 635.13 Td (Included in) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 388.55 627.63 Td (AFFO) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 421.35 649.13 Td (Included in) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 415.20 641.63 Td (Consolidated) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 412.45 634.13 Td (Statements of) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 432.35 626.63 Td (Income) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 471.35 635.13 Td (Included in) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 493.20 627.63 Td (FFO) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 521.35 635.13 Td (Included in) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 538.85 627.63 Td (AFFO) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 614.00 Td (Realized gains on sale of marketable securities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 261.00 614.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 291.45 614.00 Td (865) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 311.00 614.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 341.45 614.00 Td (865) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 361.00 614.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 391.45 614.00 Td (865) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.00 614.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 441.55 614.00 Td (481) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 461.00 614.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.55 614.00 Td (481) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 511.00 614.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 614.00 Td (481) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 601.00 Td (Change in cumulative unrealized gains \(losses\) on) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 592.00 Td (marketable securities classified as FVTPL) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 288.65 601.00 Td (\(395) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 305.15 601.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 338.65 601.00 Td (\(395) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 355.15 601.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 397.00 601.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.75 601.00 Td (1,285) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 484.75 601.00 Td (1,285) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.10 601.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 579.00 Td (Losses on prepayments of debt) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 297.00 579.00 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 347.00 579.00 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 397.00 579.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.80 579.00 Td (\(262) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 455.25 579.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 488.80 579.00 Td (\(262) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 505.25 579.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.10 579.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 566.00 Td (Unrealized losses on hedges) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 297.00 566.00 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 347.00 566.00 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 397.00 566.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 443.35 566.00 Td (\(99) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 455.25 566.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 493.35 566.00 Td (\(99) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 505.25 566.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.10 566.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 553.00 Td (Pre-selling costs of residential inventory and other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 293.20 553.00 Td (\(92) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 305.15 553.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 343.20 553.00 Td (\(92) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 355.15 553.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 397.00 553.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 443.35 553.00 Td (\(17) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 455.25 553.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 493.35 553.00 Td (\(17) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 505.25 553.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.10 553.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 540.00 Td (Investment properties selling costs) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 288.65 540.00 Td (\(384) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 305.15 540.00 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 347.00 540.00 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 397.00 540.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.80 540.00 Td (\(142) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 455.25 540.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.10 540.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.10 540.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 526.50 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 261.00 526.50 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 297.75 526.50 Td (\(6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 305.15 526.50 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 311.00 526.50 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 341.45 526.50 Td (378) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 361.00 526.50 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 391.45 526.50 Td (865) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.00 526.50 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.75 526.50 Td (1,246) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 461.00 526.50 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 484.75 526.50 Td (1,388) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 511.00 526.50 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 526.50 Td (481) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 503.75 Td (In) Tj ET Q q 0 0 0 rg BT 61.61 503.75 Td (v) Tj ET Q q 0 0 0 rg BT 66.03 503.75 Td (es) Tj ET Q q 0 0 0 rg BT 74.80 503.75 Td (tmen) Tj ET Q q 0 0 0 rg BT 96.28 503.75 Td (t pr) Tj ET Q q 0 0 0 rg BT 110.46 503.75 Td (operties selling c) Tj ET Q q 0 0 0 rg BT 185.63 503.75 Td (os) Tj ET Q q 0 0 0 rg BT 194.70 503.75 Td (ts w) Tj ET Q q 0 0 0 rg BT 211.28 503.75 Td (er) Tj ET Q q 0 0 0 rg BT 219.61 503.75 Td (e incurr) Tj ET Q q 0 0 0 rg BT 250.72 503.75 Td (ed on dispositions of pr) Tj ET Q q 0 0 0 rg BT 345.70 503.75 Td (operties and pr) Tj ET Q q 0 0 0 rg BT 407.62 503.75 Td (operties held f) Tj ET Q q 0 0 0 rg BT 466.28 503.75 Td (or sale.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 54.00 481.55 Td (Inc) Tj ET Q q 0 0 0 rg BT 67.38 481.55 Td (ome T) Tj ET Q q 0 0 0 rg BT 94.88 481.55 Td (a) Tj ET Q q 0 0 0 rg BT 100.21 481.55 Td (x) Tj ET Q q 0 0 0 rg BT 105.00 481.55 Td (es) Tj ET Q 1 1 1 rg /GS0 gs 54.50 471.05 374.00 -13.00 re f /GS0 gs 1 1 1 rg /GS0 gs 54.50 458.05 374.00 -13.00 re f /GS0 gs 1 1 1 rg /GS0 gs 483.50 458.05 20.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 471.05 m 428.5 471.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 471.05 m 483.5 471.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 458.05 m 483.5 458.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 471.05 m 503.5 471.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 458.05 m 503.5 458.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 471.05 m 558.5 471.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 458.05 m 558.5 458.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 458.05 m 428.5 458.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 445.05 m 428.5 445.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 458.05 m 483.5 458.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 445.05 m 483.5 445.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 458.05 m 503.5 458.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 445.05 m 503.5 445.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 458.05 m 558.5 458.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 445.05 m 558.5 445.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 430.05 m 428.5 430.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 430.05 m 483.5 430.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 430.05 m 503.5 430.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 430.05 m 558.5 430.05 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 442.10 461.80 Td (Three months ended March 31) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 57.00 447.80 Td (\(thousands of dollars\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 461.75 448.80 Td (2015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.75 448.80 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 434.80 Td (Deferred income taxes) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 434.80 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 434.80 Td (11,651) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 434.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 434.80 Td (10,484) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 409.55 Td (F) Tj ET Q q 0 0 0 rg BT 58.46 409.55 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.32 409.55 Td (thr) Tj ET Q q 0 0 0 rg BT 97.28 409.55 Td (ee mon) Tj ET Q q 0 0 0 rg BT 127.91 409.55 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 187.34 409.55 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 234.25 409.55 Td (, de) Tj ET Q q 0 0 0 rg BT 249.15 409.55 Td (f) Tj ET Q q 0 0 0 rg BT 251.95 409.55 Td (err) Tj ET Q q 0 0 0 rg BT 263.77 409.55 Td (ed inc) Tj ET Q q 0 0 0 rg BT 287.95 409.55 Td (ome t) Tj ET Q q 0 0 0 rg BT 311.68 409.55 Td (a) Tj ET Q q 0 0 0 rg BT 316.37 409.55 Td (x) Tj ET Q q 0 0 0 rg BT 320.44 409.55 Td (es incr) Tj ET Q q 0 0 0 rg BT 346.72 409.55 Td (eased c) Tj ET Q q 0 0 0 rg BT 377.03 409.55 Td (ompar) Tj ET Q q 0 0 0 rg BT 403.69 409.55 Td (ed t) Tj ET Q q 0 0 0 rg BT 419.43 409.55 Td (o the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 442.81 409.55 Td (same prior y) Tj ET Q q 0 0 0 rg BT 493.19 409.55 Td (ear period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 535.25 409.55 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 397.55 Td (primarily due t) Tj ET Q q 0 0 0 rg BT 113.67 397.55 Td (o the chang) Tj ET Q q 0 0 0 rg BT 161.20 397.55 Td (e in the v) Tj ET Q q 0 0 0 rg BT 198.45 397.55 Td (alue of in) Tj ET Q q 0 0 0 rg BT 236.00 397.55 Td (v) Tj ET Q q 0 0 0 rg BT 240.42 397.55 Td (es) Tj ET Q q 0 0 0 rg BT 249.19 397.55 Td (tmen) Tj ET Q q 0 0 0 rg BT 270.67 397.55 Td (t pr) Tj ET Q q 0 0 0 rg BT 284.85 397.55 Td (operties.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 54.00 375.35 Td (Funds fr) Tj ET Q q 0 0 0 rg BT 90.89 375.35 Td (om Oper) Tj ET Q q 0 0 0 rg BT 130.79 375.35 Td (a) Tj ET Q q 0 0 0 rg BT 136.11 375.35 Td (tions and Adjus) Tj ET Q q 0 0 0 rg BT 206.59 375.35 Td (t) Tj ET Q q 0 0 0 rg BT 210.27 375.35 Td (ed Funds fr) Tj ET Q q 0 0 0 rg BT 261.08 375.35 Td (om Oper) Tj ET Q q 0 0 0 rg BT 300.98 375.35 Td (a) Tj ET Q q 0 0 0 rg BT 306.31 375.35 Td (tions) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 360.35 Td (In Managemen) Tj ET Q q 0 0 0 rg BT 115.54 360.35 Td (t) Tj ET Q q 0 0 0 rg BT 119.24 360.35 Td () Tj ET Q q 0 0 0 rg BT 121.17 360.35 Td (s vie) Tj ET Q q 0 0 0 rg BT 138.79 360.35 Td (w) Tj ET Q q 0 0 0 rg BT 145.36 360.35 Td (, funds from operations and adjus) Tj ET Q q 0 0 0 rg BT 281.50 360.35 Td (t) Tj ET Q q 0 0 0 rg BT 284.74 360.35 Td (ed funds from operations are c) Tj ET Q q 0 0 0 rg BT 408.70 360.35 Td (ommonly ac) Tj ET Q q 0 0 0 rg BT 458.17 360.35 Td (c) Tj ET Q q 0 0 0 rg BT 462.26 360.35 Td (ep) Tj ET Q q 0 0 0 rg BT 472.13 360.35 Td (t) Tj ET Q q 0 0 0 rg BT 475.38 360.35 Td (ed and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 348.35 Td (meaningful indic) Tj ET Q q 0 0 0 rg BT 121.27 348.35 Td (at) Tj ET Q q 0 0 0 rg BT 129.63 348.35 Td (ors of financial perf) Tj ET Q q 0 0 0 rg BT 207.99 348.35 Td (ormanc) Tj ET Q q 0 0 0 rg BT 238.84 348.35 Td (e in the real es) Tj ET Q q 0 0 0 rg BT 297.55 348.35 Td (t) Tj ET Q q 0 0 0 rg BT 300.77 348.35 Td (at) Tj ET Q q 0 0 0 rg BT 309.15 348.35 Td (e indus) Tj ET Q q 0 0 0 rg BT 337.69 348.35 Td (tr) Tj ET Q q 0 0 0 rg BT 344.52 348.35 Td (y) Tj ET Q q 0 0 0 rg BT 348.51 348.35 Td (. Firs) Tj ET Q q 0 0 0 rg BT 367.39 348.35 Td (t Capit) Tj ET Q q 0 0 0 rg BT 394.01 348.35 Td (al R) Tj ET Q q 0 0 0 rg BT 408.97 348.35 Td (ealty belie) Tj ET Q q 0 0 0 rg BT 450.48 348.35 Td (ves that financial ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 336.35 Td (analys) Tj ET Q q 0 0 0 rg BT 79.97 336.35 Td (ts, in) Tj ET Q q 0 0 0 rg BT 99.23 336.35 Td (ves) Tj ET Q q 0 0 0 rg BT 112.24 336.35 Td (t) Tj ET Q q 0 0 0 rg BT 115.47 336.35 Td (ors and shareholders are be) Tj ET Q q 0 0 0 rg BT 227.78 336.35 Td (t) Tj ET Q q 0 0 0 rg BT 231.05 336.35 Td (t) Tj ET Q q 0 0 0 rg BT 234.29 336.35 Td (er ser) Tj ET Q q 0 0 0 rg BT 256.94 336.35 Td (ved when the clear presen) Tj ET Q q 0 0 0 rg BT 362.69 336.35 Td (t) Tj ET Q q 0 0 0 rg BT 365.90 336.35 Td (ation of c) Tj ET Q q 0 0 0 rg BT 403.74 336.35 Td (omparable period operating results ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 324.35 Td (generat) Tj ET Q q 0 0 0 rg BT 85.65 324.35 Td (ed from FF) Tj ET Q q 0 0 0 rg BT 128.71 324.35 Td (O and AFF) Tj ET Q q 0 0 0 rg BT 170.08 324.35 Td (O disclosures supplemen) Tj ET Q q 0 0 0 rg BT 269.31 324.35 Td (t IFR) Tj ET Q q 0 0 0 rg BT 287.33 324.35 Td (S disclosure. These measures are the primar) Tj ET Q q 0 0 0 rg BT 464.51 324.35 Td (y me) Tj ET Q q 0 0 0 rg BT 483.88 324.35 Td (thods used in ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 312.35 Td (analyzing real es) Tj ET Q q 0 0 0 rg BT 121.44 312.35 Td (t) Tj ET Q q 0 0 0 rg BT 124.65 312.35 Td (at) Tj ET Q q 0 0 0 rg BT 133.03 312.35 Td (e organiz) Tj ET Q q 0 0 0 rg BT 170.12 312.35 Td (ations in Canada. FF) Tj ET Q q 0 0 0 rg BT 251.85 312.35 Td (O and AFF) Tj ET Q q 0 0 0 rg BT 293.22 312.35 Td (O are not measures de) Tj ET Q q 0 0 0 rg BT 384.64 312.35 Td (fined b) Tj ET Q q 0 0 0 rg BT 412.40 312.35 Td (y IFR) Tj ET Q q 0 0 0 rg BT 431.54 312.35 Td (S and, as such, neither of ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 300.35 Td (them has a s) Tj ET Q q 0 0 0 rg BT 105.05 300.35 Td (t) Tj ET Q q 0 0 0 rg BT 108.27 300.35 Td (andard de) Tj ET Q q 0 0 0 rg BT 149.57 300.35 Td (finition. The Compan) Tj ET Q q 0 0 0 rg BT 233.62 300.35 Td (y) Tj ET Q q 0 0 0 rg BT 238.39 300.35 Td () Tj ET Q q 0 0 0 rg BT 240.32 300.35 Td (s me) Tj ET Q q 0 0 0 rg BT 259.11 300.35 Td (thod of c) Tj ET Q q 0 0 0 rg BT 294.67 300.35 Td (alculating FF) Tj ET Q q 0 0 0 rg BT 346.14 300.35 Td (O and AFF) Tj ET Q q 0 0 0 rg BT 387.52 300.35 Td (O may be dif) Tj ET Q q 0 0 0 rg BT 438.79 300.35 Td (f) Tj ET Q q 0 0 0 rg BT 441.69 300.35 Td (eren) Tj ET Q q 0 0 0 rg BT 459.71 300.35 Td (t from me) Tj ET Q q 0 0 0 rg BT 499.74 300.35 Td (thods used ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 288.35 Td (b) Tj ET Q q 0 0 0 rg BT 59.09 288.35 Td (y other c) Tj ET Q q 0 0 0 rg BT 93.99 288.35 Td (orporations or REIT) Tj ET Q q 0 0 0 rg BT 171.26 288.35 Td (s \(real es) Tj ET Q q 0 0 0 rg BT 206.90 288.35 Td (t) Tj ET Q q 0 0 0 rg BT 210.11 288.35 Td (at) Tj ET Q q 0 0 0 rg BT 218.49 288.35 Td (e in) Tj ET Q q 0 0 0 rg BT 232.79 288.35 Td (ves) Tj ET Q q 0 0 0 rg BT 245.80 288.35 Td (tmen) Tj ET Q q 0 0 0 rg BT 266.88 288.35 Td (t trus) Tj ET Q q 0 0 0 rg BT 288.19 288.35 Td (ts\) and, ac) Tj ET Q q 0 0 0 rg BT 330.12 288.35 Td (c) Tj ET Q q 0 0 0 rg BT 334.20 288.35 Td (ordingly) Tj ET Q q 0 0 0 rg BT 366.66 288.35 Td (, may not be c) Tj ET Q q 0 0 0 rg BT 423.34 288.35 Td (omparable t) Tj ET Q q 0 0 0 rg BT 472.94 288.35 Td (o such other ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 276.35 Td (c) Tj ET Q q 0 0 0 rg BT 58.08 276.35 Td (orporations or REIT) Tj ET Q q 0 0 0 rg BT 135.34 276.35 Td (s. FF) Tj ET Q q 0 0 0 rg BT 153.12 276.35 Td (O and AFF) Tj ET Q q 0 0 0 rg BT 194.50 276.35 Td (O: \(i\) do not represen) Tj ET Q q 0 0 0 rg BT 280.27 276.35 Td (t c) Tj ET Q q 0 0 0 rg BT 289.98 276.35 Td (ash flo) Tj ET Q q 0 0 0 rg BT 316.85 276.35 Td (w from operating activities as de) Tj ET Q q 0 0 0 rg BT 449.32 276.35 Td (fined b) Tj ET Q q 0 0 0 rg BT 477.08 276.35 Td (y IFR) Tj ET Q q 0 0 0 rg BT 496.22 276.35 Td (S, \(ii\) are not ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 264.35 Td (indic) Tj ET Q q 0 0 0 rg BT 72.97 264.35 Td (ative of c) Tj ET Q q 0 0 0 rg BT 109.79 264.35 Td (ash available t) Tj ET Q q 0 0 0 rg BT 168.40 264.35 Td (o fund all liquidity requiremen) Tj ET Q q 0 0 0 rg BT 289.92 264.35 Td (ts, including paymen) Tj ET Q q 0 0 0 rg BT 373.42 264.35 Td (t of dividends and c) Tj ET Q q 0 0 0 rg BT 451.80 264.35 Td (apit) Tj ET Q q 0 0 0 rg BT 467.59 264.35 Td (al f) Tj ET Q q 0 0 0 rg BT 480.22 264.35 Td (or gro) Tj ET Q q 0 0 0 rg BT 504.69 264.35 Td (w) Tj ET Q q 0 0 0 rg BT 511.85 264.35 Td (th, and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 54.00 252.35 Td (\(iii\) are not t) Tj ET Q q 0 0 0 rg BT 103.93 252.35 Td (o be c) Tj ET Q q 0 0 0 rg BT 127.57 252.35 Td (onsidered as alt) Tj ET Q q 0 0 0 rg BT 191.53 252.35 Td (ernatives t) Tj ET Q q 0 0 0 rg BT 234.27 252.35 Td (o IFR) Tj ET Q q 0 0 0 rg BT 254.08 252.35 Td (S ne) Tj ET Q q 0 0 0 rg BT 270.72 252.35 Td (t inc) Tj ET Q q 0 0 0 rg BT 287.85 252.35 Td (ome f) Tj ET Q q 0 0 0 rg BT 310.86 252.35 Td (or the purpose of e) Tj ET Q q 0 0 0 rg BT 387.27 252.35 Td (valuating operating perf) Tj ET Q q 0 0 0 rg BT 485.72 252.35 Td (ormanc) Tj ET Q q 0 0 0 rg BT 516.57 252.35 Td (e.) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 233.15 Td (F) Tj ET Q q 0 0 0 rg BT 58.94 233.15 Td (unds from Operations) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 218.20 Td (Fir) Tj ET Q q 0 0 0 rg BT 64.21 218.20 Td (s) Tj ET Q q 0 0 0 rg BT 68.00 218.20 Td (t Capit) Tj ET Q q 0 0 0 rg BT 94.51 218.20 Td (al R) Tj ET Q q 0 0 0 rg BT 109.11 218.20 Td (ealty c) Tj ET Q q 0 0 0 rg BT 135.46 218.20 Td (alcula) Tj ET Q q 0 0 0 rg BT 159.01 218.20 Td (t) Tj ET Q q 0 0 0 rg BT 162.26 218.20 Td (es FF) Tj ET Q q 0 0 0 rg BT 182.51 218.20 Td (O in acc) Tj ET Q q 0 0 0 rg BT 214.36 218.20 Td (or) Tj ET Q q 0 0 0 rg BT 222.98 218.20 Td (dance with the r) Tj ET Q q 0 0 0 rg BT 289.25 218.20 Td (ec) Tj ET Q q 0 0 0 rg BT 298.37 218.20 Td (ommenda) Tj ET Q q 0 0 0 rg BT 339.80 218.20 Td (tions of the R) Tj ET Q q 0 0 0 rg BT 393.82 218.20 Td (eal Pr) Tj ET Q q 0 0 0 rg BT 416.64 218.20 Td (operty Associa) Tj ET Q q 0 0 0 rg BT 475.87 218.20 Td (tion of Canada ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 206.20 Td (\(RE) Tj ET Q q 0 0 0 rg BT 71.42 206.20 Td (ALpac\). The use of FF) Tj ET Q q 0 0 0 rg BT 161.14 206.20 Td (O has been included f) Tj ET Q q 0 0 0 rg BT 248.87 206.20 Td (or the purpose of impr) Tj ET Q q 0 0 0 rg BT 340.85 206.20 Td (o) Tj ET Q q 0 0 0 rg BT 346.08 206.20 Td (ving the under) Tj ET Q q 0 0 0 rg BT 405.00 206.20 Td (s) Tj ET Q q 0 0 0 rg BT 408.80 206.20 Td (t) Tj ET Q q 0 0 0 rg BT 412.03 206.20 Td (anding of the oper) Tj ET Q q 0 0 0 rg BT 487.05 206.20 Td (a) Tj ET Q q 0 0 0 rg BT 491.75 206.20 Td (ting r) Tj ET Q q 0 0 0 rg BT 512.97 206.20 Td (esults of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 194.20 Td (the Compan) Tj ET Q q 0 0 0 rg BT 103.55 194.20 Td (y) Tj ET Q q 0 0 0 rg BT 107.41 194.20 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 176.20 Td (FF) Tj ET Q q 0 0 0 rg BT 63.10 176.20 Td (O is c) Tj ET Q q 0 0 0 rg BT 84.60 176.20 Td (onsider) Tj ET Q q 0 0 0 rg BT 114.91 176.20 Td (ed a meaningful additional financial measur) Tj ET Q q 0 0 0 rg BT 292.48 176.20 Td (e of oper) Tj ET Q q 0 0 0 rg BT 329.08 176.20 Td (a) Tj ET Q q 0 0 0 rg BT 333.78 176.20 Td (ting perf) Tj ET Q q 0 0 0 rg BT 368.20 176.20 Td (ormance, as it e) Tj ET Q q 0 0 0 rg BT 432.65 176.20 Td (x) Tj ET Q q 0 0 0 rg BT 436.75 176.20 Td (cludes f) Tj ET Q q 0 0 0 rg BT 467.79 176.20 Td (air v) Tj ET Q q 0 0 0 rg BT 484.99 176.20 Td (alue g) Tj ET Q q 0 0 0 rg BT 509.09 176.20 Td (ains and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 164.20 Td (losses on in) Tj ET Q q 0 0 0 rg BT 100.71 164.20 Td (v) Tj ET Q q 0 0 0 rg BT 105.13 164.20 Td (es) Tj ET Q q 0 0 0 rg BT 113.90 164.20 Td (tmen) Tj ET Q q 0 0 0 rg BT 135.38 164.20 Td (t pr) Tj ET Q q 0 0 0 rg BT 149.57 164.20 Td (operties. FF) Tj ET Q q 0 0 0 rg BT 196.97 164.20 Td (O also adjus) Tj ET Q q 0 0 0 rg BT 245.88 164.20 Td (ts f) Tj ET Q q 0 0 0 rg BT 258.24 164.20 Td (or cert) Tj ET Q q 0 0 0 rg BT 285.18 164.20 Td (ain it) Tj ET Q q 0 0 0 rg BT 305.31 164.20 Td (ems included in IFR) Tj ET Q q 0 0 0 rg BT 383.74 164.20 Td (S ne) Tj ET Q q 0 0 0 rg BT 400.77 164.20 Td (t inc) Tj ET Q q 0 0 0 rg BT 418.08 164.20 Td (ome tha) Tj ET Q q 0 0 0 rg BT 451.88 164.20 Td (t ma) Tj ET Q q 0 0 0 rg BT 470.08 164.20 Td (y not be the mos) Tj ET Q q 0 0 0 rg BT 538.39 164.20 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 152.20 Td (appr) Tj ET Q q 0 0 0 rg BT 72.62 152.20 Td (opria) Tj ET Q q 0 0 0 rg BT 93.63 152.20 Td (t) Tj ET Q q 0 0 0 rg BT 96.87 152.20 Td (e de) Tj ET Q q 0 0 0 rg BT 114.28 152.20 Td (t) Tj ET Q q 0 0 0 rg BT 117.53 152.20 Td (erminan) Tj ET Q q 0 0 0 rg BT 151.48 152.20 Td (ts of the long-t) Tj ET Q q 0 0 0 rg BT 211.26 152.20 Td (erm oper) Tj ET Q q 0 0 0 rg BT 248.75 152.20 Td (a) Tj ET Q q 0 0 0 rg BT 253.45 152.20 Td (ting perf) Tj ET Q q 0 0 0 rg BT 287.87 152.20 Td (ormance of the Compan) Tj ET Q q 0 0 0 rg BT 386.26 152.20 Td (y) Tj ET Q q 0 0 0 rg BT 390.07 152.20 Td (, including cert) Tj ET Q q 0 0 0 rg BT 449.84 152.20 Td (ain c) Tj ET Q q 0 0 0 rg BT 468.59 152.20 Td (ash and non-c) Tj ET Q q 0 0 0 rg BT 525.35 152.20 Td (ash ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 140.20 Td (g) Tj ET Q q 0 0 0 rg BT 58.52 140.20 Td (ains and losses, incr) Tj ET Q q 0 0 0 rg BT 138.76 140.20 Td (emen) Tj ET Q q 0 0 0 rg BT 161.86 140.20 Td (t) Tj ET Q q 0 0 0 rg BT 165.08 140.20 Td (al leasing c) Tj ET Q q 0 0 0 rg BT 209.06 140.20 Td (os) Tj ET Q q 0 0 0 rg BT 218.14 140.20 Td (ts, pr) Tj ET Q q 0 0 0 rg BT 238.73 140.20 Td (operty t) Tj ET Q q 0 0 0 rg BT 271.08 140.20 Td (a) Tj ET Q q 0 0 0 rg BT 275.78 140.20 Td (x) Tj ET Q q 0 0 0 rg BT 279.85 140.20 Td (es r) Tj ET Q q 0 0 0 rg BT 294.35 140.20 Td (e) Tj ET Q q 0 0 0 rg BT 299.24 140.20 Td (flect) Tj ET Q q 0 0 0 rg BT 317.03 140.20 Td (ed r) Tj ET Q q 0 0 0 rg BT 332.80 140.20 Td (a) Tj ET Q q 0 0 0 rg BT 337.50 140.20 Td (t) Tj ET Q q 0 0 0 rg BT 340.73 140.20 Td (ably) Tj ET Q q 0 0 0 rg BT 356.88 140.20 Td (, adjus) Tj ET Q q 0 0 0 rg BT 383.13 140.20 Td (tmen) Tj ET Q q 0 0 0 rg BT 404.60 140.20 Td (ts f) Tj ET Q q 0 0 0 rg BT 416.96 140.20 Td (or equity acc) Tj ET Q q 0 0 0 rg BT 469.06 140.20 Td (oun) Tj ET Q q 0 0 0 rg BT 484.75 140.20 Td (t) Tj ET Q q 0 0 0 rg BT 487.99 140.20 Td (ed join) Tj ET Q q 0 0 0 rg BT 515.61 140.20 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 128.20 Td (v) Tj ET Q q 0 0 0 rg BT 58.42 128.20 Td (en) Tj ET Q q 0 0 0 rg BT 68.56 128.20 Td (tur) Tj ET Q q 0 0 0 rg BT 80.51 128.20 Td (es \(including cert) Tj ET Q q 0 0 0 rg BT 149.71 128.20 Td (ain e) Tj ET Q q 0 0 0 rg BT 169.13 128.20 Td (xpenses r) Tj ET Q q 0 0 0 rg BT 207.36 128.20 Td (ela) Tj ET Q q 0 0 0 rg BT 219.33 128.20 Td (t) Tj ET Q q 0 0 0 rg BT 222.57 128.20 Td (ed t) Tj ET Q q 0 0 0 rg BT 238.31 128.20 Td (o pr) Tj ET Q q 0 0 0 rg BT 254.42 128.20 Td (operties under de) Tj ET Q q 0 0 0 rg BT 326.87 128.20 Td (v) Tj ET Q q 0 0 0 rg BT 331.29 128.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 367.21 128.20 Td (t and chang) Tj ET Q q 0 0 0 rg BT 414.53 128.20 Td (es in f) Tj ET Q q 0 0 0 rg BT 438.35 128.20 Td (air v) Tj ET Q q 0 0 0 rg BT 455.55 128.20 Td (alue\), and t) Tj ET Q q 0 0 0 rg BT 501.46 128.20 Td (o non-) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 116.20 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 116.20 Td (on) Tj ET Q q 0 0 0 rg BT 68.58 116.20 Td (tr) Tj ET Q q 0 0 0 rg BT 75.25 116.20 Td (olling in) Tj ET Q q 0 0 0 rg BT 107.09 116.20 Td (t) Tj ET Q q 0 0 0 rg BT 110.33 116.20 Td (er) Tj ET Q q 0 0 0 rg BT 118.66 116.20 Td (es) Tj ET Q q 0 0 0 rg BT 127.44 116.20 Td (t t) Tj ET Q q 0 0 0 rg BT 136.30 116.20 Td (o r) Tj ET Q q 0 0 0 rg BT 147.19 116.20 Td (e) Tj ET Q q 0 0 0 rg BT 152.08 116.20 Td (flect FF) Tj ET Q q 0 0 0 rg BT 181.34 116.20 Td (O a) Tj ET Q q 0 0 0 rg BT 194.92 116.20 Td (t) Tj ET Q q 0 0 0 rg BT 198.13 116.20 Td (tribut) Tj ET Q q 0 0 0 rg BT 220.99 116.20 Td (able t) Tj ET Q q 0 0 0 rg BT 243.82 116.20 Td (o the Compan) Tj ET Q q 0 0 0 rg BT 300.90 116.20 Td (y) Tj ET Q q 0 0 0 rg BT 305.73 116.20 Td () Tj ET Q q 0 0 0 rg BT 307.61 116.20 Td (s c) Tj ET Q q 0 0 0 rg BT 317.93 116.20 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 369.28 116.20 Td (eholder) Tj ET Q q 0 0 0 rg BT 400.62 116.20 Td (s. FF) Tj ET Q q 0 0 0 rg BT 418.42 116.20 Td (O pr) Tj ET Q q 0 0 0 rg BT 435.88 116.20 Td (o) Tj ET Q q 0 0 0 rg BT 441.11 116.20 Td (vides a per) Tj ET Q q 0 0 0 rg BT 484.92 116.20 Td (spectiv) Tj ET Q q 0 0 0 rg BT 513.35 116.20 Td (e on the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 104.20 Td (financial perf) Tj ET Q q 0 0 0 rg BT 107.07 104.20 Td (ormance tha) Tj ET Q q 0 0 0 rg BT 158.63 104.20 Td (t is not immedia) Tj ET Q q 0 0 0 rg BT 224.34 104.20 Td (t) Tj ET Q q 0 0 0 rg BT 227.58 104.20 Td (ely appar) Tj ET Q q 0 0 0 rg BT 265.08 104.20 Td (en) Tj ET Q q 0 0 0 rg BT 275.22 104.20 Td (t fr) Tj ET Q q 0 0 0 rg BT 287.20 104.20 Td (om ne) Tj ET Q q 0 0 0 rg BT 312.90 104.20 Td (t inc) Tj ET Q q 0 0 0 rg BT 330.21 104.20 Td (ome de) Tj ET Q q 0 0 0 rg BT 360.88 104.20 Td (t) Tj ET Q q 0 0 0 rg BT 364.12 104.20 Td (ermined in acc) Tj ET Q q 0 0 0 rg BT 423.58 104.20 Td (or) Tj ET Q q 0 0 0 rg BT 432.21 104.20 Td (dance with IFR) Tj ET Q q 0 0 0 rg BT 491.69 104.20 Td (S. Oper) Tj ET Q q 0 0 0 rg BT 521.20 104.20 Td (a) Tj ET Q q 0 0 0 rg BT 525.90 104.20 Td (ting ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 92.20 Td (FF) Tj ET Q q 0 0 0 rg BT 63.10 92.20 Td (O is c) Tj ET Q q 0 0 0 rg BT 84.60 92.20 Td (alcula) Tj ET Q q 0 0 0 rg BT 108.16 92.20 Td (t) Tj ET Q q 0 0 0 rg BT 111.40 92.20 Td (ed b) Tj ET Q q 0 0 0 rg BT 129.09 92.20 Td (y e) Tj ET Q q 0 0 0 rg BT 140.70 92.20 Td (x) Tj ET Q q 0 0 0 rg BT 144.81 92.20 Td (cluding fr) Tj ET Q q 0 0 0 rg BT 182.74 92.20 Td (om FF) Tj ET Q q 0 0 0 rg BT 207.36 92.20 Td (O the e) Tj ET Q q 0 0 0 rg BT 236.97 92.20 Td (f) Tj ET Q q 0 0 0 rg BT 239.92 92.20 Td (f) Tj ET Q q 0 0 0 rg BT 242.73 92.20 Td (ects of other g) Tj ET Q q 0 0 0 rg BT 301.16 92.20 Td (ains \(losses\) and \(e) Tj ET Q q 0 0 0 rg BT 377.69 92.20 Td (xpenses\). The w) Tj ET Q q 0 0 0 rg BT 442.54 92.20 Td (eigh) Tj ET Q q 0 0 0 rg BT 459.68 92.20 Td (t) Tj ET Q q 0 0 0 rg BT 462.92 92.20 Td (ed a) Tj ET Q q 0 0 0 rg BT 480.04 92.20 Td (v) Tj ET Q q 0 0 0 rg BT 484.45 92.20 Td (er) Tj ET Q q 0 0 0 rg BT 492.71 92.20 Td (ag) Tj ET Q q 0 0 0 rg BT 502.13 92.20 Td (e number ) Tj ET Q endstream endobj 85 0 obj <> endobj 86 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (41) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 694.50 Td (of dilut) Tj ET Q q 0 0 0 rg BT 82.93 694.50 Td (ed shar) Tj ET Q q 0 0 0 rg BT 112.73 694.50 Td (es outs) Tj ET Q q 0 0 0 rg BT 141.55 694.50 Td (t) Tj ET Q q 0 0 0 rg BT 144.78 694.50 Td (anding f) Tj ET Q q 0 0 0 rg BT 177.43 694.50 Td (or FF) Tj ET Q q 0 0 0 rg BT 197.55 694.50 Td (O is c) Tj ET Q q 0 0 0 rg BT 219.05 694.50 Td (alcula) Tj ET Q q 0 0 0 rg BT 242.61 694.50 Td (t) Tj ET Q q 0 0 0 rg BT 245.85 694.50 Td (ed assuming c) Tj ET Q q 0 0 0 rg BT 302.86 694.50 Td (on) Tj ET Q q 0 0 0 rg BT 313.22 694.50 Td (v) Tj ET Q q 0 0 0 rg BT 317.64 694.50 Td (er) Tj ET Q q 0 0 0 rg BT 325.93 694.50 Td (sion of only those c) Tj ET Q q 0 0 0 rg BT 404.29 694.50 Td (on) Tj ET Q q 0 0 0 rg BT 414.65 694.50 Td (v) Tj ET Q q 0 0 0 rg BT 419.07 694.50 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 473.58 694.50 Td (tur) Tj ET Q q 0 0 0 rg BT 485.54 694.50 Td (es outs) Tj ET Q q 0 0 0 rg BT 514.36 694.50 Td (t) Tj ET Q q 0 0 0 rg BT 517.59 694.50 Td (anding ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 682.50 Td (tha) Tj ET Q q 0 0 0 rg BT 67.30 682.50 Td (t w) Tj ET Q q 0 0 0 rg BT 79.97 682.50 Td (ould ha) Tj ET Q q 0 0 0 rg BT 110.18 682.50 Td (v) Tj ET Q q 0 0 0 rg BT 114.60 682.50 Td (e a dilutiv) Tj ET Q q 0 0 0 rg BT 154.05 682.50 Td (e e) Tj ET Q q 0 0 0 rg BT 166.17 682.50 Td (f) Tj ET Q q 0 0 0 rg BT 169.13 682.50 Td (f) Tj ET Q q 0 0 0 rg BT 171.93 682.50 Td (ect upon c) Tj ET Q q 0 0 0 rg BT 214.19 682.50 Td (on) Tj ET Q q 0 0 0 rg BT 224.55 682.50 Td (v) Tj ET Q q 0 0 0 rg BT 228.97 682.50 Td (er) Tj ET Q q 0 0 0 rg BT 237.26 682.50 Td (sion, a) Tj ET Q q 0 0 0 rg BT 263.44 682.50 Td (t the holder) Tj ET Q q 0 0 0 rg BT 311.26 682.50 Td (s' c) Tj ET Q q 0 0 0 rg BT 323.79 682.50 Td (on) Tj ET Q q 0 0 0 rg BT 334.22 682.50 Td (tr) Tj ET Q q 0 0 0 rg BT 340.85 682.50 Td (actual c) Tj ET Q q 0 0 0 rg BT 371.96 682.50 Td (on) Tj ET Q q 0 0 0 rg BT 382.33 682.50 Td (v) Tj ET Q q 0 0 0 rg BT 386.74 682.50 Td (er) Tj ET Q q 0 0 0 rg BT 395.04 682.50 Td (sion price. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 664.50 Td (FF) Tj ET Q q 0 0 0 rg BT 63.10 664.50 Td (O f) Tj ET Q q 0 0 0 rg BT 74.83 664.50 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 101.69 664.50 Td (thr) Tj ET Q q 0 0 0 rg BT 113.64 664.50 Td (ee mon) Tj ET Q q 0 0 0 rg BT 144.28 664.50 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 203.71 664.50 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 250.62 664.50 Td ( t) Tj ET Q q 0 0 0 rg BT 256.13 664.50 Td (ot) Tj ET Q q 0 0 0 rg BT 264.63 664.50 Td (aled ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 284.21 664.50 Td ($55.4 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 336.96 664.50 Td ( or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 350.24 664.50 Td ($0.25) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 373.04 664.50 Td ( per shar) Tj ET Q q 0 0 0 rg BT 408.58 664.50 Td (e \(dilut) Tj ET Q q 0 0 0 rg BT 437.19 664.50 Td (ed\) c) Tj ET Q q 0 0 0 rg BT 456.86 664.50 Td (ompar) Tj ET Q q 0 0 0 rg BT 483.52 664.50 Td (ed t) Tj ET Q q 0 0 0 rg BT 499.26 664.50 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 652.50 Td ($53.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 106.75 652.50 Td ( or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.04 652.50 Td ($0.26) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 142.83 652.50 Td ( per shar) Tj ET Q q 0 0 0 rg BT 178.38 652.50 Td (e \(dilut) Tj ET Q q 0 0 0 rg BT 206.99 652.50 Td (ed\) f) Tj ET Q q 0 0 0 rg BT 225.35 652.50 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 252.21 652.50 Td (same prior y) Tj ET Q q 0 0 0 rg BT 302.60 652.50 Td (ear period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 344.65 652.50 Td (. The ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 366.80 652.50 Td (3.8%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 386.61 652.50 Td ( or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 399.89 652.50 Td ($0.01) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.69 652.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 424.95 652.50 Td (decr) Tj ET Q q 0 0 0 rg BT 442.76 652.50 Td (ease) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 461.41 652.50 Td ( in FF) Tj ET Q q 0 0 0 rg BT 482.58 652.50 Td (O per ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 640.50 Td (shar) Tj ET Q q 0 0 0 rg BT 71.31 640.50 Td (e \(dilut) Tj ET Q q 0 0 0 rg BT 99.92 640.50 Td (ed\) o) Tj ET Q q 0 0 0 rg BT 120.67 640.50 Td (v) Tj ET Q q 0 0 0 rg BT 125.09 640.50 Td (er the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 151.65 640.50 Td (same prior y) Tj ET Q q 0 0 0 rg BT 202.04 640.50 Td (ear period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 244.09 640.50 Td ( is primarily due t) Tj ET Q q 0 0 0 rg BT 314.49 640.50 Td (o an incr) Tj ET Q q 0 0 0 rg BT 349.46 640.50 Td (ease in the w) Tj ET Q q 0 0 0 rg BT 403.08 640.50 Td (eigh) Tj ET Q q 0 0 0 rg BT 420.22 640.50 Td (t) Tj ET Q q 0 0 0 rg BT 423.46 640.50 Td (ed a) Tj ET Q q 0 0 0 rg BT 440.58 640.50 Td (v) Tj ET Q q 0 0 0 rg BT 445.00 640.50 Td (er) Tj ET Q q 0 0 0 rg BT 453.25 640.50 Td (ag) Tj ET Q q 0 0 0 rg BT 462.67 640.50 Td (e number of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 628.50 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 628.50 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 109.49 628.50 Td (es outs) Tj ET Q q 0 0 0 rg BT 138.32 628.50 Td (t) Tj ET Q q 0 0 0 rg BT 141.54 628.50 Td (anding r) Tj ET Q q 0 0 0 rg BT 174.71 628.50 Td (esulting fr) Tj ET Q q 0 0 0 rg BT 215.39 628.50 Td (om v) Tj ET Q q 0 0 0 rg BT 235.28 628.50 Td (arious equity financing activities and gr) Tj ET Q q 0 0 0 rg BT 393.72 628.50 Td (o) Tj ET Q q 0 0 0 rg BT 398.95 628.50 Td (w) Tj ET Q q 0 0 0 rg BT 406.12 628.50 Td (th of the Compan) Tj ET Q q 0 0 0 rg BT 477.12 628.50 Td (y) Tj ET Q q 0 0 0 rg BT 480.98 628.50 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 610.50 Td (Oper) Tj ET Q q 0 0 0 rg BT 74.13 610.50 Td (a) Tj ET Q q 0 0 0 rg BT 78.83 610.50 Td (ting FF) Tj ET Q q 0 0 0 rg BT 105.80 610.50 Td (O f) Tj ET Q q 0 0 0 rg BT 117.52 610.50 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 144.38 610.50 Td (thr) Tj ET Q q 0 0 0 rg BT 156.34 610.50 Td (ee mon) Tj ET Q q 0 0 0 rg BT 186.97 610.50 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 246.40 610.50 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 293.31 610.50 Td ( t) Tj ET Q q 0 0 0 rg BT 298.82 610.50 Td (ot) Tj ET Q q 0 0 0 rg BT 307.33 610.50 Td (aled ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 326.90 610.50 Td ($55.1 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 379.65 610.50 Td ( or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 392.94 610.50 Td ($0.25) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.73 610.50 Td ( per shar) Tj ET Q q 0 0 0 rg BT 451.28 610.50 Td (e \(dilut) Tj ET Q q 0 0 0 rg BT 479.89 610.50 Td (ed\) c) Tj ET Q q 0 0 0 rg BT 499.56 610.50 Td (ompar) Tj ET Q q 0 0 0 rg BT 526.22 610.50 Td (ed t) Tj ET Q q 0 0 0 rg BT 541.96 610.50 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 598.50 Td ($52.1 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 106.75 598.50 Td ( or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.04 598.50 Td ($0.25) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 142.83 598.50 Td ( per shar) Tj ET Q q 0 0 0 rg BT 178.38 598.50 Td (e \(dilut) Tj ET Q q 0 0 0 rg BT 206.99 598.50 Td (ed\) f) Tj ET Q q 0 0 0 rg BT 225.35 598.50 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 252.21 598.50 Td (same prior y) Tj ET Q q 0 0 0 rg BT 302.60 598.50 Td (ear period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 344.65 598.50 Td (. The incr) Tj ET Q q 0 0 0 rg BT 381.93 598.50 Td (ease of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 413.43 598.50 Td ($3.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 461.11 598.50 Td ( is primarily due t) Tj ET Q q 0 0 0 rg BT 531.51 598.50 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 586.50 Td (t) Tj ET Q q 0 0 0 rg BT 57.25 586.50 Td (ot) Tj ET Q q 0 0 0 rg BT 65.75 586.50 Td (al Same Pr) Tj ET Q q 0 0 0 rg BT 108.20 586.50 Td (operty NOI gr) Tj ET Q q 0 0 0 rg BT 163.21 586.50 Td (o) Tj ET Q q 0 0 0 rg BT 168.45 586.50 Td (w) Tj ET Q q 0 0 0 rg BT 175.62 586.50 Td (th, lo) Tj ET Q q 0 0 0 rg BT 196.50 586.50 Td (w) Tj ET Q q 0 0 0 rg BT 203.57 586.50 Td (er in) Tj ET Q q 0 0 0 rg BT 221.74 586.50 Td (t) Tj ET Q q 0 0 0 rg BT 224.99 586.50 Td (er) Tj ET Q q 0 0 0 rg BT 233.32 586.50 Td (es) Tj ET Q q 0 0 0 rg BT 242.09 586.50 Td (t e) Tj ET Q q 0 0 0 rg BT 252.53 586.50 Td (xpense due t) Tj ET Q q 0 0 0 rg BT 304.48 586.50 Td (o a lo) Tj ET Q q 0 0 0 rg BT 326.60 586.50 Td (w) Tj ET Q q 0 0 0 rg BT 333.66 586.50 Td (er w) Tj ET Q q 0 0 0 rg BT 351.44 586.50 Td (eigh) Tj ET Q q 0 0 0 rg BT 368.58 586.50 Td (t) Tj ET Q q 0 0 0 rg BT 371.82 586.50 Td (ed a) Tj ET Q q 0 0 0 rg BT 388.94 586.50 Td (v) Tj ET Q q 0 0 0 rg BT 393.36 586.50 Td (er) Tj ET Q q 0 0 0 rg BT 401.61 586.50 Td (ag) Tj ET Q q 0 0 0 rg BT 411.03 586.50 Td (e in) Tj ET Q q 0 0 0 rg BT 425.72 586.50 Td (t) Tj ET Q q 0 0 0 rg BT 428.96 586.50 Td (er) Tj ET Q q 0 0 0 rg BT 437.29 586.50 Td (es) Tj ET Q q 0 0 0 rg BT 446.07 586.50 Td (t r) Tj ET Q q 0 0 0 rg BT 454.96 586.50 Td (a) Tj ET Q q 0 0 0 rg BT 459.65 586.50 Td (t) Tj ET Q q 0 0 0 rg BT 462.90 586.50 Td (e, and higher ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 574.50 Td (in) Tj ET Q q 0 0 0 rg BT 61.46 574.50 Td (t) Tj ET Q q 0 0 0 rg BT 64.70 574.50 Td (er) Tj ET Q q 0 0 0 rg BT 73.03 574.50 Td (es) Tj ET Q q 0 0 0 rg BT 81.80 574.50 Td (t inc) Tj ET Q q 0 0 0 rg BT 99.11 574.50 Td (ome fr) Tj ET Q q 0 0 0 rg BT 125.98 574.50 Td (om mortg) Tj ET Q q 0 0 0 rg BT 166.12 574.50 Td (ag) Tj ET Q q 0 0 0 rg BT 175.54 574.50 Td (es and loans r) Tj ET Q q 0 0 0 rg BT 231.38 574.50 Td (eceiv) Tj ET Q q 0 0 0 rg BT 252.23 574.50 Td (able. On a per shar) Tj ET Q q 0 0 0 rg BT 328.80 574.50 Td (e basis, the incr) Tj ET Q q 0 0 0 rg BT 391.92 574.50 Td (ease w) Tj ET Q q 0 0 0 rg BT 419.87 574.50 Td (as of) Tj ET Q q 0 0 0 rg BT 439.06 574.50 Td (f) Tj ET Q q 0 0 0 rg BT 441.98 574.50 Td (se) Tj ET Q q 0 0 0 rg BT 450.82 574.50 Td (t b) Tj ET Q q 0 0 0 rg BT 461.63 574.50 Td (y an incr) Tj ET Q q 0 0 0 rg BT 495.86 574.50 Td (ease in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 562.50 Td (w) Tj ET Q q 0 0 0 rg BT 61.06 562.50 Td (eigh) Tj ET Q q 0 0 0 rg BT 78.20 562.50 Td (t) Tj ET Q q 0 0 0 rg BT 81.44 562.50 Td (ed a) Tj ET Q q 0 0 0 rg BT 98.56 562.50 Td (v) Tj ET Q q 0 0 0 rg BT 102.97 562.50 Td (er) Tj ET Q q 0 0 0 rg BT 111.23 562.50 Td (ag) Tj ET Q q 0 0 0 rg BT 120.65 562.50 Td (e number of shar) Tj ET Q q 0 0 0 rg BT 190.25 562.50 Td (es c) Tj ET Q q 0 0 0 rg BT 205.54 562.50 Td (ommon outs) Tj ET Q q 0 0 0 rg BT 257.26 562.50 Td (t) Tj ET Q q 0 0 0 rg BT 260.48 562.50 Td (anding r) Tj ET Q q 0 0 0 rg BT 293.65 562.50 Td (esulting fr) Tj ET Q q 0 0 0 rg BT 334.33 562.50 Td (om v) Tj ET Q q 0 0 0 rg BT 354.22 562.50 Td (arious equity financing activities. The Oper) Tj ET Q q 0 0 0 rg BT 527.09 562.50 Td (a) Tj ET Q q 0 0 0 rg BT 531.78 562.50 Td (ting ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 550.50 Td (FF) Tj ET Q q 0 0 0 rg BT 63.10 550.50 Td (O per shar) Tj ET Q q 0 0 0 rg BT 105.27 550.50 Td (e r) Tj ET Q q 0 0 0 rg BT 115.86 550.50 Td (emained c) Tj ET Q q 0 0 0 rg BT 157.80 550.50 Td (onsis) Tj ET Q q 0 0 0 rg BT 178.33 550.50 Td (t) Tj ET Q q 0 0 0 rg BT 181.57 550.50 Td (en) Tj ET Q q 0 0 0 rg BT 191.71 550.50 Td (t with the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 233.47 550.50 Td (same prior y) Tj ET Q q 0 0 0 rg BT 283.85 550.50 Td (ear period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 325.90 550.50 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 532.50 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 532.50 Td (y) Tj ET Q q 0 0 0 rg BT 109.90 532.50 Td () Tj ET Q q 0 0 0 rg BT 111.78 532.50 Td (s ne) Tj ET Q q 0 0 0 rg BT 128.13 532.50 Td (t inc) Tj ET Q q 0 0 0 rg BT 145.44 532.50 Td (ome a) Tj ET Q q 0 0 0 rg BT 170.63 532.50 Td (t pr) Tj ET Q q 0 0 0 rg BT 184.82 532.50 Td (oportiona) Tj ET Q q 0 0 0 rg BT 224.98 532.50 Td (t) Tj ET Q q 0 0 0 rg BT 228.22 532.50 Td (e in) Tj ET Q q 0 0 0 rg BT 242.91 532.50 Td (t) Tj ET Q q 0 0 0 rg BT 246.15 532.50 Td (er) Tj ET Q q 0 0 0 rg BT 254.48 532.50 Td (es) Tj ET Q q 0 0 0 rg BT 263.26 532.50 Td (t is r) Tj ET Q q 0 0 0 rg BT 280.69 532.50 Td (ec) Tj ET Q q 0 0 0 rg BT 289.81 532.50 Td (onciled t) Tj ET Q q 0 0 0 rg BT 324.90 532.50 Td (o FF) Tj ET Q q 0 0 0 rg BT 341.53 532.50 Td (O belo) Tj ET Q q 0 0 0 rg BT 368.17 532.50 Td (w:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 522 m 415.5 522 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 522 m 435.5 522 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 522 m 485.5 522 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 522 m 505.5 522 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 522 m 556.5 522 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 509 m 415.5 509 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 496 m 415.5 496 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 415.5 509 m 435.5 509 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 415.5 496 m 435.5 496 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 435.5 509 m 485.5 509 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 435.5 496 m 485.5 496 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485.5 509 m 505.5 509 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485.5 496 m 505.5 496 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 509 m 556.5 509 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 496 m 556.5 496 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 405 m 415.5 405 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 415.5 405 m 435.5 405 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 435.5 405 m 485.5 405 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485.5 405 m 505.5 405 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505.5 405 m 556.5 405 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 392 m 415.5 392 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 392 m 435.5 392 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 392 m 485.5 392 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 392 m 505.5 392 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 392 m 556.5 392 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 452.65 513.50 Td (Three months ended March 31) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 499.50 Td (\(thousands of dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.75 500.50 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 536.75 500.50 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 486.75 Td (Net income attributable to common shareholders) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 438.00 486.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.00 486.75 Td (45,901) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.00 486.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.15 486.75 Td (35,214) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 473.75 Td (Add \(deduct\):) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 460.75 Td (\(Increase\) decrease in value of investment properties, net) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 458.75 460.75 Td (\(4,361) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.15 460.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.75 460.75 Td (6,261) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 447.75 Td (Incremental leasing costs and other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.45 447.75 Td (957) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.75 447.75 Td (1,360) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 434.75 Td (Investment properties selling costs) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.45 434.75 Td (384) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 539.55 434.75 Td (142) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 421.75 Td (Adjustment for equity accounted joint ventures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.45 421.75 Td (900) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 545.10 421.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 69.00 408.75 Td (Deferred income taxes) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.00 408.75 Td (11,651) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.15 408.75 Td (10,484) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 396.75 Td (FFO) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 438.00 395.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.00 395.75 Td (55,432) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.00 395.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.15 395.75 Td (53,461) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 368.50 Td (The c) Tj ET Q q 0 0 0 rg BT 75.51 368.50 Td (omponen) Tj ET Q q 0 0 0 rg BT 114.69 368.50 Td (ts of FF) Tj ET Q q 0 0 0 rg BT 143.90 368.50 Td (O a) Tj ET Q q 0 0 0 rg BT 157.48 368.50 Td (t pr) Tj ET Q q 0 0 0 rg BT 171.67 368.50 Td (oportiona) Tj ET Q q 0 0 0 rg BT 211.82 368.50 Td (t) Tj ET Q q 0 0 0 rg BT 215.06 368.50 Td (e in) Tj ET Q q 0 0 0 rg BT 229.76 368.50 Td (t) Tj ET Q q 0 0 0 rg BT 233.00 368.50 Td (er) Tj ET Q q 0 0 0 rg BT 241.33 368.50 Td (es) Tj ET Q q 0 0 0 rg BT 250.10 368.50 Td (t ar) Tj ET Q q 0 0 0 rg BT 263.86 368.50 Td (e as f) Tj ET Q q 0 0 0 rg BT 284.90 368.50 Td (ollo) Tj ET Q q 0 0 0 rg BT 300.00 368.50 Td (w) Tj ET Q q 0 0 0 rg BT 307.06 368.50 Td (s:) Tj ET Q 1 1 1 rg /GS0 gs 54.50 358.00 335.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 54.50 343.00 335.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 358 m 389.5 358 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 358 m 432.5 358 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 358 m 437.5 358 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 358 m 487.5 358 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 358 m 507.5 358 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 358 m 557.5 358 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 343 m 389.5 343 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 328 m 389.5 328 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389.5 343 m 432.5 343 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389.5 328 m 432.5 328 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 343 m 437.5 343 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 328 m 437.5 328 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437.5 343 m 487.5 343 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437.5 328 m 487.5 328 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 343 m 507.5 343 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 328 m 507.5 328 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 507.5 343 m 557.5 343 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 507.5 328 m 557.5 328 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 250 m 389.5 250 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389.5 250 m 432.5 250 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 250 m 437.5 250 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437.5 250 m 487.5 250 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 250 m 507.5 250 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 507.5 250 m 557.5 250 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 237 m 389.5 237 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389.5 237 m 432.5 237 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 237 m 437.5 237 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437.5 237 m 487.5 237 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 237 m 507.5 237 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 507.5 237 m 557.5 237 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 224 m 389.5 224 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389.5 224 m 432.5 224 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 224 m 437.5 224 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437.5 224 m 487.5 224 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 224 m 507.5 224 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 507.5 224 m 557.5 224 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 211 m 389.5 211 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389.5 211 m 432.5 211 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 211 m 437.5 211 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437.5 211 m 487.5 211 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 211 m 507.5 211 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 507.5 211 m 557.5 211 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 198 m 389.5 198 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389.5 198 m 432.5 198 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 198 m 437.5 198 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437.5 198 m 487.5 198 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 198 m 507.5 198 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 507.5 198 m 557.5 198 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 185 m 389.5 185 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 172 m 389.5 172 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389.5 185 m 432.5 185 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 172 m 432.5 172 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 185 m 437.5 185 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 172 m 437.5 172 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437.5 185 m 487.5 185 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 172 m 487.5 172 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 487.5 185 m 507.5 185 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 172 m 507.5 172 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 507.5 185 m 557.5 185 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 172 m 557.5 172 l s BT /F3 8.50 Tf ET q 0 0 0 rg BT 447.35 347.63 Td (Three months ended March 31) Tj ET Q BT /F4 8.50 Tf ET q 0 0 0 rg BT 57.00 332.63 Td (\(thousands of dollars, except share and per share amounts and percentages\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 396.20 332.63 Td (% change) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 466.75 332.63 Td (2015) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 536.75 332.63 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 318.75 Td (Net operating income) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 440.00 318.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 454.45 318.75 Td (101,291) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.00 318.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.15 318.75 Td (99,373) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 305.75 Td (Interest and other income) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 463.55 305.75 Td (3,900) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.75 305.75 Td (2,610) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 292.75 Td (Interest expense) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 456.20 292.75 Td (\(41,034) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 484.15 292.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 292.75 Td (\(42,488) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 554.25 292.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 279.75 Td (Corporate expenses and other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 460.75 279.75 Td (\(8,208) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 484.15 279.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.00 279.75 Td (\(6,351) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 554.25 279.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 266.75 Td (Abandoned transaction costs) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.20 266.75 Td (\(69) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 484.15 266.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.35 266.75 Td (\(48) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 554.25 266.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 253.75 Td (Amortization expense \(corporate assets and credit facility costs\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 467.65 253.75 Td (\(826) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 484.15 253.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.00 253.75 Td (\(1,023) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 554.25 253.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 239.75 Td (Oper) Tj ET Q q 0 0 0 rg BT 75.12 239.75 Td (a) Tj ET Q q 0 0 0 rg BT 79.35 239.75 Td (ting FF) Tj ET Q q 0 0 0 rg BT 103.62 239.75 Td (O ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 111.61 244.04 Td (\(1\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.40 240.75 Td (5.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.55 240.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.00 240.75 Td (55,054) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.15 240.75 Td (52,073) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 227.75 Td (Add: Other g) Tj ET Q q 0 0 0 rg BT 103.53 227.75 Td (ains \(losses\) and \(e) Tj ET Q q 0 0 0 rg BT 172.40 227.75 Td (xpenses\) ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 206.52 231.56 Td (\(2\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 470.45 227.75 Td (378) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.75 227.75 Td (1,388) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 213.75 Td (FFO) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.40 214.75 Td (3.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.55 214.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 440.00 214.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.00 214.75 Td (55,432) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.00 214.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.15 214.75 Td (53,461) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 201.75 Td (FFO per diluted share) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 408.65 201.75 Td (\(3.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 422.80 201.75 Td (\)%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 440.00 201.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.05 201.75 Td (0.25) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.00 201.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.25 201.75 Td (0.26) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 188.75 Td (Operating FFO per diluted share) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 414.65 188.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.55 188.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 440.00 188.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.05 188.75 Td (0.25) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.00 188.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.25 188.75 Td (0.25) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 175.75 Td (Weighted average number of common shares diluted FFO \(in thousands\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.40 175.75 Td (5.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.55 175.75 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 454.45 175.75 Td (220,861) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 524.60 175.75 Td (209,597) Tj ET Q BT /F1 10.00 Tf ET BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 54.00 166.71 Td (\(1\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 60.96 162.90 Td (Pr) Tj ET Q q 0 0 0 rg BT 66.93 162.90 Td (e) Tj ET Q q 0 0 0 rg BT 70.38 162.90 Td (viously r) Tj ET Q q 0 0 0 rg BT 93.96 162.90 Td (e) Tj ET Q q 0 0 0 rg BT 97.38 162.90 Td (f) Tj ET Q q 0 0 0 rg BT 99.34 162.90 Td (err) Tj ET Q q 0 0 0 rg BT 107.61 162.90 Td (ed t) Tj ET Q q 0 0 0 rg BT 118.63 162.90 Td (o as FF) Tj ET Q q 0 0 0 rg BT 140.88 162.90 Td (O e) Tj ET Q q 0 0 0 rg BT 150.47 162.90 Td (x) Tj ET Q q 0 0 0 rg BT 153.35 162.90 Td (cluding other g) Tj ET Q q 0 0 0 rg BT 195.82 162.90 Td (ains \(losses\) and \(e) Tj ET Q q 0 0 0 rg BT 249.39 162.90 Td (xpenses\) in the Compan) Tj ET Q q 0 0 0 rg BT 320.40 162.90 Td (y's 2014 Annual R) Tj ET Q q 0 0 0 rg BT 370.51 162.90 Td (eport. ) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 154.84 Td (\(2\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 61.12 151.50 Td (R) Tj ET Q q 0 0 0 rg BT 64.80 151.50 Td (e) Tj ET Q q 0 0 0 rg BT 68.22 151.50 Td (f) Tj ET Q q 0 0 0 rg BT 70.18 151.50 Td (er t) Tj ET Q q 0 0 0 rg BT 79.96 151.50 Td (o the ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 96.33 151.50 Td (R) Tj ET Q q 0 0 0 rg BT 102.93 151.50 Td (esults of Oper) Tj ET Q q 0 0 0 rg BT 142.61 151.50 Td (a) Tj ET Q q 0 0 0 rg BT 145.89 151.50 Td (tions Other Gains \(Losses\) and \(Expenses\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 272.01 151.50 Td ( section of this MD&A) Tj ET Q q 0 0 0 rg BT 334.19 151.50 Td (.) Tj ET Q endstream endobj 87 0 obj <> endobj 88 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (42) Tj ET Q BT /F1 10.00 Tf ET BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 693.75 Td (Adjus) Tj ET Q q 0 0 0 rg BT 79.29 693.75 Td (t) Tj ET Q q 0 0 0 rg BT 83.00 693.75 Td (ed F) Tj ET Q q 0 0 0 rg BT 101.64 693.75 Td (unds from Operations) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 675.75 Td (AFF) Tj ET Q q 0 0 0 rg BT 68.89 675.75 Td (O is c) Tj ET Q q 0 0 0 rg BT 90.38 675.75 Td (alcula) Tj ET Q q 0 0 0 rg BT 113.94 675.75 Td (t) Tj ET Q q 0 0 0 rg BT 117.18 675.75 Td (ed b) Tj ET Q q 0 0 0 rg BT 134.88 675.75 Td (y adjus) Tj ET Q q 0 0 0 rg BT 163.16 675.75 Td (ting FF) Tj ET Q q 0 0 0 rg BT 190.12 675.75 Td (O f) Tj ET Q q 0 0 0 rg BT 201.85 675.75 Td (or non-c) Tj ET Q q 0 0 0 rg BT 235.86 675.75 Td (ash and other it) Tj ET Q q 0 0 0 rg BT 299.77 675.75 Td (ems including in) Tj ET Q q 0 0 0 rg BT 365.46 675.75 Td (t) Tj ET Q q 0 0 0 rg BT 368.70 675.75 Td (er) Tj ET Q q 0 0 0 rg BT 377.03 675.75 Td (es) Tj ET Q q 0 0 0 rg BT 385.80 675.75 Td (t pa) Tj ET Q q 0 0 0 rg BT 401.27 675.75 Td (y) Tj ET Q q 0 0 0 rg BT 405.65 675.75 Td (able in shar) Tj ET Q q 0 0 0 rg BT 452.34 675.75 Td (es, adjus) Tj ET Q q 0 0 0 rg BT 487.47 675.75 Td (tmen) Tj ET Q q 0 0 0 rg BT 508.95 675.75 Td (ts f) Tj ET Q q 0 0 0 rg BT 521.31 675.75 Td (or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 663.75 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 663.75 Td (en) Tj ET Q q 0 0 0 rg BT 67.49 663.75 Td (t) Tj ET Q q 0 0 0 rg BT 70.72 663.75 Td (al r) Tj ET Q q 0 0 0 rg BT 83.42 663.75 Td (e) Tj ET Q q 0 0 0 rg BT 88.35 663.75 Td (v) Tj ET Q q 0 0 0 rg BT 92.76 663.75 Td (enue r) Tj ET Q q 0 0 0 rg BT 118.84 663.75 Td (ec) Tj ET Q q 0 0 0 rg BT 127.96 663.75 Td (ogniz) Tj ET Q q 0 0 0 rg BT 149.21 663.75 Td (ed on a s) Tj ET Q q 0 0 0 rg BT 185.34 663.75 Td (tr) Tj ET Q q 0 0 0 rg BT 191.97 663.75 Td (aigh) Tj ET Q q 0 0 0 rg BT 208.93 663.75 Td (t) Tj ET Q q 0 0 0 rg BT 211.97 663.75 Td (-line basis, non-c) Tj ET Q q 0 0 0 rg BT 280.02 663.75 Td (ash c) Tj ET Q q 0 0 0 rg BT 300.38 663.75 Td (ompensa) Tj ET Q q 0 0 0 rg BT 337.73 663.75 Td (tion e) Tj ET Q q 0 0 0 rg BT 360.99 663.75 Td (xpense, Same Pr) Tj ET Q q 0 0 0 rg BT 427.54 663.75 Td (operty c) Tj ET Q q 0 0 0 rg BT 460.82 663.75 Td (apit) Tj ET Q q 0 0 0 rg BT 476.38 663.75 Td (al ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 651.75 Td (e) Tj ET Q q 0 0 0 rg BT 58.82 651.75 Td (xpenditur) Tj ET Q q 0 0 0 rg BT 98.15 651.75 Td (es and leasing c) Tj ET Q q 0 0 0 rg BT 161.49 651.75 Td (os) Tj ET Q q 0 0 0 rg BT 170.56 651.75 Td (ts f) Tj ET Q q 0 0 0 rg BT 182.92 651.75 Td (or main) Tj ET Q q 0 0 0 rg BT 214.18 651.75 Td (t) Tj ET Q q 0 0 0 rg BT 217.40 651.75 Td (aining shopping cen) Tj ET Q q 0 0 0 rg BT 298.09 651.75 Td (tr) Tj ET Q q 0 0 0 rg BT 304.79 651.75 Td (e in) Tj ET Q q 0 0 0 rg BT 319.52 651.75 Td (fr) Tj ET Q q 0 0 0 rg BT 325.85 651.75 Td (as) Tj ET Q q 0 0 0 rg BT 334.44 651.75 Td (tructur) Tj ET Q q 0 0 0 rg BT 362.72 651.75 Td (es, cert) Tj ET Q q 0 0 0 rg BT 392.28 651.75 Td (ain other g) Tj ET Q q 0 0 0 rg BT 436.00 651.75 Td (ains or losses, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 639.75 Td (adjus) Tj ET Q q 0 0 0 rg BT 75.49 639.75 Td (tmen) Tj ET Q q 0 0 0 rg BT 96.96 639.75 Td (ts t) Tj ET Q q 0 0 0 rg BT 109.74 639.75 Td (o non-c) Tj ET Q q 0 0 0 rg BT 140.26 639.75 Td (on) Tj ET Q q 0 0 0 rg BT 150.69 639.75 Td (tr) Tj ET Q q 0 0 0 rg BT 157.37 639.75 Td (olling in) Tj ET Q q 0 0 0 rg BT 189.21 639.75 Td (t) Tj ET Q q 0 0 0 rg BT 192.45 639.75 Td (er) Tj ET Q q 0 0 0 rg BT 200.78 639.75 Td (es) Tj ET Q q 0 0 0 rg BT 209.55 639.75 Td (t t) Tj ET Q q 0 0 0 rg BT 218.41 639.75 Td (o r) Tj ET Q q 0 0 0 rg BT 229.30 639.75 Td (e) Tj ET Q q 0 0 0 rg BT 234.19 639.75 Td (flect AFF) Tj ET Q q 0 0 0 rg BT 269.24 639.75 Td (O a) Tj ET Q q 0 0 0 rg BT 282.82 639.75 Td (t) Tj ET Q q 0 0 0 rg BT 286.03 639.75 Td (tribut) Tj ET Q q 0 0 0 rg BT 308.89 639.75 Td (able t) Tj ET Q q 0 0 0 rg BT 331.72 639.75 Td (o the Compan) Tj ET Q q 0 0 0 rg BT 388.80 639.75 Td (y) Tj ET Q q 0 0 0 rg BT 392.67 639.75 Td (. R) Tj ET Q q 0 0 0 rg BT 402.71 639.75 Td (esiden) Tj ET Q q 0 0 0 rg BT 429.28 639.75 Td (tial in) Tj ET Q q 0 0 0 rg BT 451.65 639.75 Td (v) Tj ET Q q 0 0 0 rg BT 456.07 639.75 Td (en) Tj ET Q q 0 0 0 rg BT 466.21 639.75 Td (t) Tj ET Q q 0 0 0 rg BT 469.46 639.75 Td (or) Tj ET Q q 0 0 0 rg BT 478.27 639.75 Td (y pr) Tj ET Q q 0 0 0 rg BT 493.66 639.75 Td (e-sale ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 627.75 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 627.75 Td (os) Tj ET Q q 0 0 0 rg BT 67.22 627.75 Td (ts ar) Tj ET Q q 0 0 0 rg BT 84.88 627.75 Td (e r) Tj ET Q q 0 0 0 rg BT 95.47 627.75 Td (ec) Tj ET Q q 0 0 0 rg BT 104.60 627.75 Td (ogniz) Tj ET Q q 0 0 0 rg BT 125.85 627.75 Td (ed in AFF) Tj ET Q q 0 0 0 rg BT 163.04 627.75 Td (O when the Compan) Tj ET Q q 0 0 0 rg BT 246.36 627.75 Td (y r) Tj ET Q q 0 0 0 rg BT 256.50 627.75 Td (ec) Tj ET Q q 0 0 0 rg BT 265.62 627.75 Td (ogniz) Tj ET Q q 0 0 0 rg BT 286.88 627.75 Td (es r) Tj ET Q q 0 0 0 rg BT 301.38 627.75 Td (e) Tj ET Q q 0 0 0 rg BT 306.30 627.75 Td (v) Tj ET Q q 0 0 0 rg BT 310.72 627.75 Td (enue fr) Tj ET Q q 0 0 0 rg BT 339.82 627.75 Td (om the sale of r) Tj ET Q q 0 0 0 rg BT 403.36 627.75 Td (esiden) Tj ET Q q 0 0 0 rg BT 429.93 627.75 Td (tial units. Oper) Tj ET Q q 0 0 0 rg BT 489.90 627.75 Td (a) Tj ET Q q 0 0 0 rg BT 494.60 627.75 Td (ting ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 615.75 Td (AFF) Tj ET Q q 0 0 0 rg BT 68.89 615.75 Td (O e) Tj ET Q q 0 0 0 rg BT 82.59 615.75 Td (x) Tj ET Q q 0 0 0 rg BT 86.70 615.75 Td (cludes fr) Tj ET Q q 0 0 0 rg BT 121.26 615.75 Td (om AFF) Tj ET Q q 0 0 0 rg BT 151.67 615.75 Td (O the e) Tj ET Q q 0 0 0 rg BT 181.28 615.75 Td (f) Tj ET Q q 0 0 0 rg BT 184.23 615.75 Td (f) Tj ET Q q 0 0 0 rg BT 187.03 615.75 Td (ects of other g) Tj ET Q q 0 0 0 rg BT 245.46 615.75 Td (ains \(losses\) and \(e) Tj ET Q q 0 0 0 rg BT 321.99 615.75 Td (xpenses\). The w) Tj ET Q q 0 0 0 rg BT 386.85 615.75 Td (eigh) Tj ET Q q 0 0 0 rg BT 403.99 615.75 Td (t) Tj ET Q q 0 0 0 rg BT 407.23 615.75 Td (ed a) Tj ET Q q 0 0 0 rg BT 424.34 615.75 Td (v) Tj ET Q q 0 0 0 rg BT 428.76 615.75 Td (er) Tj ET Q q 0 0 0 rg BT 437.02 615.75 Td (ag) Tj ET Q q 0 0 0 rg BT 446.43 615.75 Td (e number of dilut) Tj ET Q q 0 0 0 rg BT 517.07 615.75 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 603.75 Td (shar) Tj ET Q q 0 0 0 rg BT 71.31 603.75 Td (es outs) Tj ET Q q 0 0 0 rg BT 100.13 603.75 Td (t) Tj ET Q q 0 0 0 rg BT 103.36 603.75 Td (anding f) Tj ET Q q 0 0 0 rg BT 136.02 603.75 Td (or AFF) Tj ET Q q 0 0 0 rg BT 161.92 603.75 Td (O is adjus) Tj ET Q q 0 0 0 rg BT 200.76 603.75 Td (t) Tj ET Q q 0 0 0 rg BT 204.00 603.75 Td (ed t) Tj ET Q q 0 0 0 rg BT 219.75 603.75 Td (o assume c) Tj ET Q q 0 0 0 rg BT 264.52 603.75 Td (on) Tj ET Q q 0 0 0 rg BT 274.88 603.75 Td (v) Tj ET Q q 0 0 0 rg BT 279.30 603.75 Td (er) Tj ET Q q 0 0 0 rg BT 287.59 603.75 Td (sion of the outs) Tj ET Q q 0 0 0 rg BT 350.68 603.75 Td (t) Tj ET Q q 0 0 0 rg BT 353.91 603.75 Td (anding c) Tj ET Q q 0 0 0 rg BT 387.87 603.75 Td (on) Tj ET Q q 0 0 0 rg BT 398.23 603.75 Td (v) Tj ET Q q 0 0 0 rg BT 402.65 603.75 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 457.16 603.75 Td (tur) Tj ET Q q 0 0 0 rg BT 469.12 603.75 Td (es, c) Tj ET Q q 0 0 0 rg BT 486.91 603.75 Td (alcula) Tj ET Q q 0 0 0 rg BT 510.47 603.75 Td (t) Tj ET Q q 0 0 0 rg BT 513.71 603.75 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 591.75 Td (using the holder) Tj ET Q q 0 0 0 rg BT 119.89 591.75 Td (s c) Tj ET Q q 0 0 0 rg BT 132.70 591.75 Td (on) Tj ET Q q 0 0 0 rg BT 143.14 591.75 Td (tr) Tj ET Q q 0 0 0 rg BT 149.77 591.75 Td (actual c) Tj ET Q q 0 0 0 rg BT 180.88 591.75 Td (on) Tj ET Q q 0 0 0 rg BT 191.24 591.75 Td (v) Tj ET Q q 0 0 0 rg BT 195.66 591.75 Td (er) Tj ET Q q 0 0 0 rg BT 203.95 591.75 Td (sion price.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 573.75 Td (AFF) Tj ET Q q 0 0 0 rg BT 68.89 573.75 Td (O f) Tj ET Q q 0 0 0 rg BT 80.61 573.75 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 107.47 573.75 Td (thr) Tj ET Q q 0 0 0 rg BT 119.43 573.75 Td (ee mon) Tj ET Q q 0 0 0 rg BT 150.06 573.75 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 209.49 573.75 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 256.40 573.75 Td ( t) Tj ET Q q 0 0 0 rg BT 261.92 573.75 Td (ot) Tj ET Q q 0 0 0 rg BT 270.42 573.75 Td (aled ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 289.99 573.75 Td ($58.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 342.75 573.75 Td ( or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 356.03 573.75 Td ($0.24) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 378.82 573.75 Td ( per shar) Tj ET Q q 0 0 0 rg BT 414.37 573.75 Td (e \(dilut) Tj ET Q q 0 0 0 rg BT 442.98 573.75 Td (ed\) c) Tj ET Q q 0 0 0 rg BT 462.65 573.75 Td (ompar) Tj ET Q q 0 0 0 rg BT 489.31 573.75 Td (ed t) Tj ET Q q 0 0 0 rg BT 505.05 573.75 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 561.75 Td ($54.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 106.75 561.75 Td ( or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.04 561.75 Td ($0.24) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 142.83 561.75 Td ( per shar) Tj ET Q q 0 0 0 rg BT 178.38 561.75 Td (e \(dilut) Tj ET Q q 0 0 0 rg BT 206.99 561.75 Td (ed\) f) Tj ET Q q 0 0 0 rg BT 225.35 561.75 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 252.21 561.75 Td (same prior y) Tj ET Q q 0 0 0 rg BT 302.60 561.75 Td (ear period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 344.65 561.75 Td (. The AFF) Tj ET Q q 0 0 0 rg BT 381.69 561.75 Td (O per shar) Tj ET Q q 0 0 0 rg BT 423.85 561.75 Td (e r) Tj ET Q q 0 0 0 rg BT 434.44 561.75 Td (emained c) Tj ET Q q 0 0 0 rg BT 476.38 561.75 Td (onsis) Tj ET Q q 0 0 0 rg BT 496.92 561.75 Td (t) Tj ET Q q 0 0 0 rg BT 500.16 561.75 Td (en) Tj ET Q q 0 0 0 rg BT 510.29 561.75 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 549.75 Td (with the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 90.15 549.75 Td (same prior y) Tj ET Q q 0 0 0 rg BT 140.53 549.75 Td (ear period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.58 549.75 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 531.75 Td (Oper) Tj ET Q q 0 0 0 rg BT 74.13 531.75 Td (a) Tj ET Q q 0 0 0 rg BT 78.83 531.75 Td (ting AFF) Tj ET Q q 0 0 0 rg BT 111.58 531.75 Td (O f) Tj ET Q q 0 0 0 rg BT 123.31 531.75 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 150.17 531.75 Td (thr) Tj ET Q q 0 0 0 rg BT 162.13 531.75 Td (ee mon) Tj ET Q q 0 0 0 rg BT 192.76 531.75 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 252.19 531.75 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 299.10 531.75 Td ( t) Tj ET Q q 0 0 0 rg BT 304.61 531.75 Td (ot) Tj ET Q q 0 0 0 rg BT 313.11 531.75 Td (aled ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 332.69 531.75 Td ($57.1 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 385.44 531.75 Td ( or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 398.72 531.75 Td ($0.24) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 421.52 531.75 Td ( per shar) Tj ET Q q 0 0 0 rg BT 457.07 531.75 Td (e \(dilut) Tj ET Q q 0 0 0 rg BT 485.67 531.75 Td (ed\) c) Tj ET Q q 0 0 0 rg BT 505.34 531.75 Td (ompar) Tj ET Q q 0 0 0 rg BT 532.00 531.75 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 519.75 Td (t) Tj ET Q q 0 0 0 rg BT 57.25 519.75 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 64.79 519.75 Td ($53.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 117.54 519.75 Td ( or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 130.82 519.75 Td ($0.24) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 153.62 519.75 Td ( per shar) Tj ET Q q 0 0 0 rg BT 189.17 519.75 Td (e \(dilut) Tj ET Q q 0 0 0 rg BT 217.77 519.75 Td (ed\) f) Tj ET Q q 0 0 0 rg BT 236.14 519.75 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 263.00 519.75 Td (same prior y) Tj ET Q q 0 0 0 rg BT 313.38 519.75 Td (ear period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 355.44 519.75 Td (. The Oper) Tj ET Q q 0 0 0 rg BT 397.72 519.75 Td (a) Tj ET Q q 0 0 0 rg BT 402.41 519.75 Td (ting AFF) Tj ET Q q 0 0 0 rg BT 435.17 519.75 Td (O per shar) Tj ET Q q 0 0 0 rg BT 477.33 519.75 Td (e r) Tj ET Q q 0 0 0 rg BT 487.93 519.75 Td (emained ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 507.75 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 507.75 Td (onsis) Tj ET Q q 0 0 0 rg BT 78.68 507.75 Td (t) Tj ET Q q 0 0 0 rg BT 81.92 507.75 Td (en) Tj ET Q q 0 0 0 rg BT 92.06 507.75 Td (t with the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 133.81 507.75 Td (same prior y) Tj ET Q q 0 0 0 rg BT 184.20 507.75 Td (ear period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 226.25 507.75 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 489.75 Td (AFF) Tj ET Q q 0 0 0 rg BT 68.89 489.75 Td (O is c) Tj ET Q q 0 0 0 rg BT 90.38 489.75 Td (alcula) Tj ET Q q 0 0 0 rg BT 113.94 489.75 Td (t) Tj ET Q q 0 0 0 rg BT 117.18 489.75 Td (ed as f) Tj ET Q q 0 0 0 rg BT 143.48 489.75 Td (ollo) Tj ET Q q 0 0 0 rg BT 158.58 489.75 Td (w) Tj ET Q q 0 0 0 rg BT 165.64 489.75 Td (s:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 479.25 m 400.5 479.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 479.25 m 445.5 479.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 479.25 m 451.5 479.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 466.25 m 451.5 466.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 479.25 m 504.5 479.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451.5 466.25 m 504.5 466.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 479.25 m 558.5 479.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 466.25 m 558.5 466.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 466.25 m 400.5 466.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 445.25 m 400.5 445.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 400.5 466.25 m 445.5 466.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 400.5 445.25 m 445.5 445.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 466.25 m 451.5 466.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 445.25 m 451.5 445.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451.5 466.25 m 504.5 466.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451.5 445.25 m 504.5 445.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 466.25 m 558.5 466.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 445.25 m 558.5 445.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 286.25 m 400.5 286.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 400.5 286.25 m 445.5 286.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 286.25 m 451.5 286.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451.5 286.25 m 504.5 286.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 286.25 m 558.5 286.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 273.25 m 400.5 273.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 400.5 273.25 m 445.5 273.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 273.25 m 451.5 273.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451.5 273.25 m 504.5 273.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 273.25 m 558.5 273.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 260.25 m 400.5 260.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 400.5 260.25 m 445.5 260.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 260.25 m 451.5 260.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451.5 260.25 m 504.5 260.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 260.25 m 558.5 260.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 247.25 m 400.5 247.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 400.5 247.25 m 445.5 247.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 247.25 m 451.5 247.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 234.25 m 451.5 234.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451.5 247.25 m 504.5 247.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451.5 234.25 m 504.5 234.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 247.25 m 558.5 247.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 234.25 m 400.5 234.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 400.5 234.25 m 445.5 234.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 400.5 221.25 m 445.5 221.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 234.25 m 451.5 234.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451.5 234.25 m 504.5 234.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 234.25 m 558.5 234.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 221.25 m 400.5 221.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 208.25 m 400.5 208.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 400.5 221.25 m 445.5 221.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 208.25 m 445.5 208.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 221.25 m 451.5 221.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 208.25 m 451.5 208.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451.5 221.25 m 504.5 221.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 208.25 m 504.5 208.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504.5 221.25 m 558.5 221.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 208.25 m 558.5 208.25 l s BT /F3 8.50 Tf ET q 0 0 0 rg BT 448.35 470.38 Td (Three months ended March 31) Tj ET Q BT /F4 8.50 Tf ET q 0 0 0 rg BT 57.00 449.88 Td (\(thousands of dollars, except share and per share amounts and percentages\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 409.20 449.88 Td (% change) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 483.75 449.88 Td (2015) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 537.75 449.88 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 436.00 Td (FFO) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 454.00 436.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 476.00 436.00 Td (55,432) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 507.00 436.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 436.00 Td (53,461) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 423.00 Td (Add \(deduct\):) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 410.00 Td (Interest expense payable in shares) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.55 410.00 Td (5,920) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 410.00 Td (5,841) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 397.00 Td (Rental revenue recognized on a straight-line basis) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 477.75 397.00 Td (\(1,248) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 501.15 397.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 397.00 Td (\(1,752) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 397.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 384.00 Td (Non-cash compensation expense) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 487.45 384.00 Td (824) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 384.00 Td (696) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 371.00 Td (Same Pr) Tj ET Q q 0 0 0 rg BT 92.79 371.00 Td (operty r) Tj ET Q q 0 0 0 rg BT 122.02 371.00 Td (e) Tj ET Q q 0 0 0 rg BT 126.46 371.00 Td (v) Tj ET Q q 0 0 0 rg BT 130.43 371.00 Td (enue sus) Tj ET Q q 0 0 0 rg BT 162.55 371.00 Td (t) Tj ET Q q 0 0 0 rg BT 165.45 371.00 Td (aining c) Tj ET Q q 0 0 0 rg BT 193.35 371.00 Td (apit) Tj ET Q q 0 0 0 rg BT 207.36 371.00 Td (al e) Tj ET Q q 0 0 0 rg BT 220.12 371.00 Td (xpenditur) Tj ET Q q 0 0 0 rg BT 255.51 371.00 Td (es ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 265.54 375.29 Td (\(1\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 477.75 371.00 Td (\(4,225) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 501.15 371.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 371.00 Td (\(4,008) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 371.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 357.00 Td (Change in cumulative unrealized losses \(gains\) on marketable securities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 487.45 357.00 Td (395) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 357.00 Td (\(1,285) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 357.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 343.00 Td (Losses on prepayments of debt) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 493.00 343.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 343.00 Td (262) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 329.00 Td (Hedge accounting losses) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 493.00 329.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.10 329.00 Td (99) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 316.00 Td (Pre-selling costs of residential inventory units) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 492.00 316.00 Td (92) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.10 316.00 Td (19) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 303.00 Td (Cos) Tj ET Q q 0 0 0 rg BT 75.96 303.00 Td (ts not c) Tj ET Q q 0 0 0 rg BT 102.79 303.00 Td (apit) Tj ET Q q 0 0 0 rg BT 116.80 303.00 Td (aliz) Tj ET Q q 0 0 0 rg BT 128.59 303.00 Td (ed during de) Tj ET Q q 0 0 0 rg BT 174.66 303.00 Td (v) Tj ET Q q 0 0 0 rg BT 178.63 303.00 Td (elopmen) Tj ET Q q 0 0 0 rg BT 210.96 303.00 Td (t period ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 241.93 307.29 Td (\(2\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 487.45 303.00 Td (848) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 303.00 Td (717) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 290.00 Td (Other adjustments) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 489.20 290.00 Td (\(78) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 501.15 290.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.35 290.00 Td (\(72) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 290.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 278.00 Td (AFFO) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 427.15 277.00 Td (7.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.55 277.00 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 476.00 277.00 Td (57,960) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 277.00 Td (53,978) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 264.00 Td (Deduct: other \() Tj ET Q q 0 0 0 rg BT 112.65 264.00 Td (g) Tj ET Q q 0 0 0 rg BT 116.72 264.00 Td (ains\) losses and e) Tj ET Q q 0 0 0 rg BT 180.13 264.00 Td (xpenses ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 211.52 267.81 Td (\(3\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 484.65 264.00 Td (\(865) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 501.15 264.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.80 264.00 Td (\(481) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 264.00 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 251.00 Td (Oper) Tj ET Q q 0 0 0 rg BT 75.12 251.00 Td (a) Tj ET Q q 0 0 0 rg BT 79.35 251.00 Td (ting AFF) Tj ET Q q 0 0 0 rg BT 108.82 251.00 Td (O ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 116.82 254.81 Td (\(4\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 427.15 251.00 Td (6.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.55 251.00 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 454.00 251.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 476.00 251.00 Td (57,095) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 507.00 251.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 251.00 Td (53,497) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 239.00 Td (AFFO per diluted share) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 430.40 238.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.55 238.00 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 454.00 238.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 485.05 238.00 Td (0.24) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 507.00 238.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 539.25 238.00 Td (0.24) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 225.00 Td (Operating AFFO per diluted share) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 430.40 225.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.55 225.00 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 454.00 225.00 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 485.05 225.00 Td (0.24) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 507.00 225.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 539.25 225.00 Td (0.24) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 212.00 Td (Weighted average number of common shares diluted AFFO \(in thousands\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 427.15 212.00 Td (4.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.55 212.00 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.45 212.00 Td (237,315) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.60 212.00 Td (226,260) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 200.69 Td (\(1\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 197.35 Td (Es) Tj ET Q q 0 0 0 rg BT 69.08 197.35 Td (tima) Tj ET Q q 0 0 0 rg BT 81.91 197.35 Td (t) Tj ET Q q 0 0 0 rg BT 84.18 197.35 Td (ed a) Tj ET Q q 0 0 0 rg BT 96.21 197.35 Td (t ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 100.14 197.35 Td ($0.83) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 116.09 197.35 Td ( per squar) Tj ET Q q 0 0 0 rg BT 144.66 197.35 Td (e f) Tj ET Q q 0 0 0 rg BT 151.71 197.35 Td (oot per annum \() Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 197.89 197.35 Td (2014) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 212.08 197.35 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 218.73 197.35 Td ($0.83) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 234.69 197.35 Td (\) on a) Tj ET Q q 0 0 0 rg BT 250.58 197.35 Td (v) Tj ET Q q 0 0 0 rg BT 253.67 197.35 Td (er) Tj ET Q q 0 0 0 rg BT 259.45 197.35 Td (ag) Tj ET Q q 0 0 0 rg BT 266.04 197.35 Td (e gr) Tj ET Q q 0 0 0 rg BT 276.73 197.35 Td (oss leasable ar) Tj ET Q q 0 0 0 rg BT 318.07 197.35 Td (ea of same pr) Tj ET Q q 0 0 0 rg BT 356.65 197.35 Td (operties \(based on an es) Tj ET Q q 0 0 0 rg BT 426.04 197.35 Td (tima) Tj ET Q q 0 0 0 rg BT 438.87 197.35 Td (t) Tj ET Q q 0 0 0 rg BT 441.14 197.35 Td (ed thr) Tj ET Q q 0 0 0 rg BT 458.25 197.35 Td (ee-) Tj ET Q q 0 0 0 rg BT 467.29 197.35 Td (y) Tj ET Q q 0 0 0 rg BT 470.37 197.35 Td (ear w) Tj ET Q q 0 0 0 rg BT 486.18 197.35 Td (eigh) Tj ET Q q 0 0 0 rg BT 498.17 197.35 Td (t) Tj ET Q q 0 0 0 rg BT 500.44 197.35 Td (ed a) Tj ET Q q 0 0 0 rg BT 512.42 197.35 Td (v) Tj ET Q q 0 0 0 rg BT 515.52 197.35 Td (er) Tj ET Q q 0 0 0 rg BT 521.29 197.35 Td (ag) Tj ET Q q 0 0 0 rg BT 527.88 197.35 Td (e\). ) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 189.29 Td (\(2\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 59.06 185.95 Td ( ) Tj ET Q q 0 0 0 rg BT 63.00 185.95 Td (The Compan) Tj ET Q q 0 0 0 rg BT 98.75 185.95 Td (y has added back c) Tj ET Q q 0 0 0 rg BT 151.96 185.95 Td (os) Tj ET Q q 0 0 0 rg BT 158.31 185.95 Td (ts not c) Tj ET Q q 0 0 0 rg BT 179.17 185.95 Td (apit) Tj ET Q q 0 0 0 rg BT 190.07 185.95 Td (aliz) Tj ET Q q 0 0 0 rg BT 199.24 185.95 Td (ed during the de) Tj ET Q q 0 0 0 rg BT 246.16 185.95 Td (v) Tj ET Q q 0 0 0 rg BT 249.25 185.95 Td (elopmen) Tj ET Q q 0 0 0 rg BT 274.40 185.95 Td (t period f) Tj ET Q q 0 0 0 rg BT 300.47 185.95 Td (or acc) Tj ET Q q 0 0 0 rg BT 317.40 185.95 Td (oun) Tj ET Q q 0 0 0 rg BT 328.38 185.95 Td (ting purposes tha) Tj ET Q q 0 0 0 rg BT 377.91 185.95 Td (t, in Manag) Tj ET Q q 0 0 0 rg BT 410.05 185.95 Td (emen) Tj ET Q q 0 0 0 rg BT 426.22 185.95 Td (t) Tj ET Q q 0 0 0 rg BT 428.81 185.95 Td () Tj ET Q q 0 0 0 rg BT 430.13 185.95 Td (s vie) Tj ET Q q 0 0 0 rg BT 442.67 185.95 Td (w f) Tj ET Q q 0 0 0 rg BT 451.24 185.95 Td (orms part of the c) Tj ET Q q 0 0 0 rg BT 502.09 185.95 Td (os) Tj ET Q q 0 0 0 rg BT 508.44 185.95 Td (t of its ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 177.60 Td (de) Tj ET Q q 0 0 0 rg BT 70.13 177.60 Td (v) Tj ET Q q 0 0 0 rg BT 73.22 177.60 Td (elopmen) Tj ET Q q 0 0 0 rg BT 98.37 177.60 Td (t pr) Tj ET Q q 0 0 0 rg BT 108.30 177.60 Td (ojects.) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 54.00 168.76 Td (\(3\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 59.79 164.95 Td ( ) Tj ET Q q 0 0 0 rg BT 63.00 164.95 Td (R) Tj ET Q q 0 0 0 rg BT 66.68 164.95 Td (e) Tj ET Q q 0 0 0 rg BT 70.10 164.95 Td (f) Tj ET Q q 0 0 0 rg BT 72.06 164.95 Td (er t) Tj ET Q q 0 0 0 rg BT 81.84 164.95 Td (o the ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 98.21 164.95 Td (R) Tj ET Q q 0 0 0 rg BT 104.81 164.95 Td (esults of Oper) Tj ET Q q 0 0 0 rg BT 144.48 164.95 Td (a) Tj ET Q q 0 0 0 rg BT 147.77 164.95 Td (tions Other Gains \(Losses\) and \(Expenses\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 273.89 164.95 Td ( section of this MD&A) Tj ET Q q 0 0 0 rg BT 336.07 164.95 Td (.) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 54.00 156.16 Td (\(4\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 59.79 152.35 Td ( ) Tj ET Q q 0 0 0 rg BT 63.00 152.35 Td (Pr) Tj ET Q q 0 0 0 rg BT 68.96 152.35 Td (e) Tj ET Q q 0 0 0 rg BT 72.41 152.35 Td (viously r) Tj ET Q q 0 0 0 rg BT 95.99 152.35 Td (e) Tj ET Q q 0 0 0 rg BT 99.42 152.35 Td (f) Tj ET Q q 0 0 0 rg BT 101.38 152.35 Td (err) Tj ET Q q 0 0 0 rg BT 109.65 152.35 Td (ed t) Tj ET Q q 0 0 0 rg BT 120.67 152.35 Td (o as ) Tj ET Q q 0 0 0 rg BT 135.96 152.35 Td (AFF) Tj ET Q q 0 0 0 rg BT 146.38 152.35 Td (O e) Tj ET Q q 0 0 0 rg BT 155.97 152.35 Td (x) Tj ET Q q 0 0 0 rg BT 158.85 152.35 Td (cluding other g) Tj ET Q q 0 0 0 rg BT 201.31 152.35 Td (ains \(losses\) and \(e) Tj ET Q q 0 0 0 rg BT 254.88 152.35 Td (xpenses\) in the Compan) Tj ET Q q 0 0 0 rg BT 325.90 152.35 Td (y's 2014 Annual R) Tj ET Q q 0 0 0 rg BT 376.01 152.35 Td (eport. ) Tj ET Q endstream endobj 89 0 obj <> endobj 90 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (43) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 694.50 Td (A r) Tj ET Q q 0 0 0 rg BT 65.40 694.50 Td (ec) Tj ET Q q 0 0 0 rg BT 74.52 694.50 Td (oncilia) Tj ET Q q 0 0 0 rg BT 100.86 694.50 Td (tion of c) Tj ET Q q 0 0 0 rg BT 134.02 694.50 Td (ash pr) Tj ET Q q 0 0 0 rg BT 158.82 694.50 Td (o) Tj ET Q q 0 0 0 rg BT 164.05 694.50 Td (vided b) Tj ET Q q 0 0 0 rg BT 193.81 694.50 Td (y oper) Tj ET Q q 0 0 0 rg BT 219.38 694.50 Td (a) Tj ET Q q 0 0 0 rg BT 224.08 694.50 Td (ting activities \(an IFR) Tj ET Q q 0 0 0 rg BT 307.96 694.50 Td (S measur) Tj ET Q q 0 0 0 rg BT 345.09 694.50 Td (e\) t) Tj ET Q q 0 0 0 rg BT 358.61 694.50 Td (o AFF) Tj ET Q q 0 0 0 rg BT 381.03 694.50 Td (O is pr) Tj ET Q q 0 0 0 rg BT 406.99 694.50 Td (esen) Tj ET Q q 0 0 0 rg BT 426.01 694.50 Td (t) Tj ET Q q 0 0 0 rg BT 429.25 694.50 Td (ed belo) Tj ET Q q 0 0 0 rg BT 459.50 694.50 Td (w:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 684 m 438.5 684 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 684 m 493.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 438.5 671 m 493.5 671 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 684 m 503.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 493.5 671 m 503.5 671 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 684 m 558.5 684 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 671 m 558.5 671 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 671 m 438.5 671 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 658 m 438.5 658 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 438.5 671 m 493.5 671 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 438.5 658 m 493.5 658 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 493.5 671 m 503.5 671 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 493.5 658 m 503.5 658 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 671 m 558.5 671 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 658 m 558.5 658 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 434 m 438.5 434 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 419 m 438.5 419 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 438.5 434 m 493.5 434 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 419 m 493.5 419 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 493.5 434 m 503.5 434 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 419 m 503.5 419 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 434 m 558.5 434 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 419 m 558.5 419 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 454.65 675.50 Td (Three months ended March 31) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 661.50 Td (\(thousands of dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.75 662.50 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.75 662.50 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 648.75 Td (Cash provided by operating activities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 441.00 648.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 465.00 648.75 Td (37,648) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 648.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 648.75 Td (70,131) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 635.75 Td (Share of profit from joint ventures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.55 635.75 Td (5,919) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 635.75 Td (682) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 622.75 Td (Distribution from joint ventures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 473.65 622.75 Td (\(622) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 490.15 622.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.80 622.75 Td (\(484) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 622.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 609.75 Td (Adjustment for equity accounted joint ventures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.75 609.75 Td (\(3,847) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 490.15 609.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.10 609.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 596.75 Td (Realized gains on sale of marketable securities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 476.45 596.75 Td (865) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 596.75 Td (481) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 583.75 Td (Incremental leasing costs) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 476.45 583.75 Td (957) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 583.75 Td (1,706) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 570.75 Td (Net change in non-cash operating items) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 465.00 570.75 Td (16,102) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 570.75 Td (16,898) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 557.75 Td (Expenditures on residential development inventory) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 481.00 557.75 Td (52) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 557.75 Td (3,627) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 544.75 Td (Receipts of proceeds from sales of residential inventory) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.00 544.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.45 544.75 Td (\(27,711) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 544.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 530.75 Td (Amortization expense) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 473.65 530.75 Td (\(826) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 490.15 530.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 530.75 Td (\(1,023) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 530.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 517.75 Td (Non-cash interest expense and change in accrued interest) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.55 517.75 Td (8,942) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 517.75 Td (\(2,806) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 517.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 503.75 Td (Convertible debenture interest paid in common shares) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.75 503.75 Td (\(9,835) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 490.15 503.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 503.75 Td (\(9,980) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 503.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 489.75 Td (Convertible debenture interest payable in common shares) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.55 489.75 Td (5,920) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 489.75 Td (5,841) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 476.75 Td (Costs not capitalized during development period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 476.45 476.75 Td (848) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 476.75 Td (717) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 463.75 Td (Pre-selling costs of residential inventory) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 481.00 463.75 Td (92) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.10 463.75 Td (19) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 450.75 Td (Same Property revenue sustaining capital expenditures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.75 450.75 Td (\(4,225) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 490.15 450.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 450.75 Td (\(4,008) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 450.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 437.75 Td (Other adjustments) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.20 437.75 Td (\(30) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 490.15 437.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.80 437.75 Td (\(112) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 437.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 423.75 Td (AFFO) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 441.00 423.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 465.00 423.75 Td (57,960) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 423.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 423.75 Td (53,978) Tj ET Q BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 54.00 390.70 Td (CAPIT) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 86.91 390.70 Td (AL S) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 110.96 390.70 Td (TRUC) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 142.39 390.70 Td (TURE AND LIQUIDITY) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 367.30 Td (Capit) Tj ET Q q 0 0 0 rg BT 79.71 367.30 Td (al Emplo) Tj ET Q q 0 0 0 rg BT 122.67 367.30 Td (y) Tj ET Q q 0 0 0 rg BT 128.22 367.30 Td (ed) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 352.30 Td (The r) Tj ET Q q 0 0 0 rg BT 74.72 352.30 Td (eal es) Tj ET Q q 0 0 0 rg BT 97.81 352.30 Td (t) Tj ET Q q 0 0 0 rg BT 101.04 352.30 Td (a) Tj ET Q q 0 0 0 rg BT 105.74 352.30 Td (t) Tj ET Q q 0 0 0 rg BT 108.98 352.30 Td (e business is c) Tj ET Q q 0 0 0 rg BT 165.86 352.30 Td (apit) Tj ET Q q 0 0 0 rg BT 181.42 352.30 Td (al in) Tj ET Q q 0 0 0 rg BT 198.22 352.30 Td (t) Tj ET Q q 0 0 0 rg BT 201.47 352.30 Td (ensiv) Tj ET Q q 0 0 0 rg BT 222.32 352.30 Td (e b) Tj ET Q q 0 0 0 rg BT 234.76 352.30 Td (y na) Tj ET Q q 0 0 0 rg BT 251.50 352.30 Td (tur) Tj ET Q q 0 0 0 rg BT 263.46 352.30 Td (e. The Compan) Tj ET Q q 0 0 0 rg BT 324.29 352.30 Td (y) Tj ET Q q 0 0 0 rg BT 329.12 352.30 Td () Tj ET Q q 0 0 0 rg BT 331.00 352.30 Td (s c) Tj ET Q q 0 0 0 rg BT 341.32 352.30 Td (apit) Tj ET Q q 0 0 0 rg BT 356.89 352.30 Td (al s) Tj ET Q q 0 0 0 rg BT 370.03 352.30 Td (tructur) Tj ET Q q 0 0 0 rg BT 398.31 352.30 Td (e is k) Tj ET Q q 0 0 0 rg BT 418.23 352.30 Td (e) Tj ET Q q 0 0 0 rg BT 423.15 352.30 Td (y t) Tj ET Q q 0 0 0 rg BT 433.18 352.30 Td (o financing gr) Tj ET Q q 0 0 0 rg BT 488.14 352.30 Td (o) Tj ET Q q 0 0 0 rg BT 493.38 352.30 Td (w) Tj ET Q q 0 0 0 rg BT 500.54 352.30 Td (th and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 340.30 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 340.30 Td (o) Tj ET Q q 0 0 0 rg BT 67.81 340.30 Td (viding sus) Tj ET Q q 0 0 0 rg BT 107.35 340.30 Td (t) Tj ET Q q 0 0 0 rg BT 110.58 340.30 Td (ainable c) Tj ET Q q 0 0 0 rg BT 146.64 340.30 Td (ash dividends t) Tj ET Q q 0 0 0 rg BT 207.38 340.30 Td (o shar) Tj ET Q q 0 0 0 rg BT 232.22 340.30 Td (eholder) Tj ET Q q 0 0 0 rg BT 263.57 340.30 Td (s. In the r) Tj ET Q q 0 0 0 rg BT 301.49 340.30 Td (eal es) Tj ET Q q 0 0 0 rg BT 324.59 340.30 Td (t) Tj ET Q q 0 0 0 rg BT 327.81 340.30 Td (a) Tj ET Q q 0 0 0 rg BT 332.51 340.30 Td (t) Tj ET Q q 0 0 0 rg BT 335.75 340.30 Td (e indus) Tj ET Q q 0 0 0 rg BT 364.84 340.30 Td (tr) Tj ET Q q 0 0 0 rg BT 371.73 340.30 Td (y) Tj ET Q q 0 0 0 rg BT 375.54 340.30 Td (, financial le) Tj ET Q q 0 0 0 rg BT 424.03 340.30 Td (v) Tj ET Q q 0 0 0 rg BT 428.45 340.30 Td (er) Tj ET Q q 0 0 0 rg BT 436.71 340.30 Td (ag) Tj ET Q q 0 0 0 rg BT 446.12 340.30 Td (e is used t) Tj ET Q q 0 0 0 rg BT 486.73 340.30 Td (o enhance ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 328.30 Td (r) Tj ET Q q 0 0 0 rg BT 57.28 328.30 Td (a) Tj ET Q q 0 0 0 rg BT 61.98 328.30 Td (t) Tj ET Q q 0 0 0 rg BT 65.22 328.30 Td (es of r) Tj ET Q q 0 0 0 rg BT 90.31 328.30 Td (e) Tj ET Q q 0 0 0 rg BT 95.23 328.30 Td (turn on in) Tj ET Q q 0 0 0 rg BT 135.01 328.30 Td (v) Tj ET Q q 0 0 0 rg BT 139.42 328.30 Td (es) Tj ET Q q 0 0 0 rg BT 148.20 328.30 Td (t) Tj ET Q q 0 0 0 rg BT 151.44 328.30 Td (ed c) Tj ET Q q 0 0 0 rg BT 168.08 328.30 Td (apit) Tj ET Q q 0 0 0 rg BT 183.64 328.30 Td (al. Manag) Tj ET Q q 0 0 0 rg BT 223.52 328.30 Td (emen) Tj ET Q q 0 0 0 rg BT 246.62 328.30 Td (t belie) Tj ET Q q 0 0 0 rg BT 271.98 328.30 Td (v) Tj ET Q q 0 0 0 rg BT 276.40 328.30 Td (es tha) Tj ET Q q 0 0 0 rg BT 300.85 328.30 Td (t the c) Tj ET Q q 0 0 0 rg BT 326.44 328.30 Td (ombina) Tj ET Q q 0 0 0 rg BT 357.20 328.30 Td (tion of deb) Tj ET Q q 0 0 0 rg BT 401.66 328.30 Td (t, c) Tj ET Q q 0 0 0 rg BT 413.91 328.30 Td (on) Tj ET Q q 0 0 0 rg BT 424.27 328.30 Td (v) Tj ET Q q 0 0 0 rg BT 428.69 328.30 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 483.20 328.30 Td (tur) Tj ET Q q 0 0 0 rg BT 495.16 328.30 Td (es and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 316.30 Td (equity in Fir) Tj ET Q q 0 0 0 rg BT 101.93 316.30 Td (s) Tj ET Q q 0 0 0 rg BT 105.73 316.30 Td (t Capit) Tj ET Q q 0 0 0 rg BT 132.24 316.30 Td (al R) Tj ET Q q 0 0 0 rg BT 146.84 316.30 Td (ealty) Tj ET Q q 0 0 0 rg BT 167.08 316.30 Td () Tj ET Q q 0 0 0 rg BT 168.96 316.30 Td (s c) Tj ET Q q 0 0 0 rg BT 179.28 316.30 Td (apit) Tj ET Q q 0 0 0 rg BT 194.84 316.30 Td (al s) Tj ET Q q 0 0 0 rg BT 207.99 316.30 Td (tructur) Tj ET Q q 0 0 0 rg BT 236.27 316.30 Td (e pr) Tj ET Q q 0 0 0 rg BT 252.08 316.30 Td (o) Tj ET Q q 0 0 0 rg BT 257.31 316.30 Td (vides s) Tj ET Q q 0 0 0 rg BT 284.32 316.30 Td (t) Tj ET Q q 0 0 0 rg BT 287.55 316.30 Td (ability and r) Tj ET Q q 0 0 0 rg BT 335.53 316.30 Td (educes risk, while g) Tj ET Q q 0 0 0 rg BT 414.23 316.30 Td (ener) Tj ET Q q 0 0 0 rg BT 432.72 316.30 Td (a) Tj ET Q q 0 0 0 rg BT 437.42 316.30 Td (ting an accep) Tj ET Q q 0 0 0 rg BT 491.02 316.30 Td (t) Tj ET Q q 0 0 0 rg BT 494.25 316.30 Td (able r) Tj ET Q q 0 0 0 rg BT 517.18 316.30 Td (e) Tj ET Q q 0 0 0 rg BT 522.10 316.30 Td (turn ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 304.30 Td (on in) Tj ET Q q 0 0 0 rg BT 74.17 304.30 Td (v) Tj ET Q q 0 0 0 rg BT 78.59 304.30 Td (es) Tj ET Q q 0 0 0 rg BT 87.36 304.30 Td (tmen) Tj ET Q q 0 0 0 rg BT 108.84 304.30 Td (t, t) Tj ET Q q 0 0 0 rg BT 120.17 304.30 Td (aking in) Tj ET Q q 0 0 0 rg BT 151.48 304.30 Td (t) Tj ET Q q 0 0 0 rg BT 154.73 304.30 Td (o acc) Tj ET Q q 0 0 0 rg BT 175.43 304.30 Td (oun) Tj ET Q q 0 0 0 rg BT 191.12 304.30 Td (t the long-t) Tj ET Q q 0 0 0 rg BT 236.40 304.30 Td (erm business s) Tj ET Q q 0 0 0 rg BT 295.94 304.30 Td (tr) Tj ET Q q 0 0 0 rg BT 302.57 304.30 Td (a) Tj ET Q q 0 0 0 rg BT 307.27 304.30 Td (t) Tj ET Q q 0 0 0 rg BT 310.51 304.30 Td (egy of the Compan) Tj ET Q q 0 0 0 rg BT 387.11 304.30 Td (y) Tj ET Q q 0 0 0 rg BT 390.98 304.30 Td (.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 287.79999999999995 m 393.5 287.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 274.79999999999995 m 393.5 274.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 287.79999999999995 m 413.5 287.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 393.5 274.79999999999995 m 413.5 274.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 287.79999999999995 m 473.5 287.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413.5 274.79999999999995 m 473.5 274.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 287.79999999999995 m 493.5 287.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473.5 274.79999999999995 m 493.5 274.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 287.79999999999995 m 553.5 287.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 493.5 274.79999999999995 m 553.5 274.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 248.79999999999995 m 393.5 248.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 393.5 248.79999999999995 m 413.5 248.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413.5 248.79999999999995 m 473.5 248.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473.5 248.79999999999995 m 493.5 248.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 493.5 248.79999999999995 m 553.5 248.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 147.79999999999995 m 393.5 147.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473.5 147.79999999999995 m 493.5 147.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 493.5 147.79999999999995 m 553.5 147.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 147.79999999999995 m 393.5 147.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 132.79999999999995 m 393.5 132.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 393.5 147.79999999999995 m 413.5 147.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 132.79999999999995 m 413.5 132.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413.5 147.79999999999995 m 473.5 147.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 132.79999999999995 m 473.5 132.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473.5 147.79999999999995 m 493.5 147.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 132.79999999999995 m 493.5 132.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 493.5 147.79999999999995 m 553.5 147.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 132.79999999999995 m 553.5 132.79999999999995 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 278.30 Td (As at \(thousands of dollars, except for other data\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.65 279.30 Td (March 31, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 486.40 279.30 Td (December 31, 2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 252.55 Td (Common shares outstanding \(in thousands\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 436.70 252.55 Td (221,949) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.90 252.55 Td (216,374) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 239.55 Td (Liabilities \(principal amounts outstanding\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 226.55 Td (Mortgages and credit facilities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 416.00 226.55 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 429.80 226.55 Td (1,087,445) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 496.00 226.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.10 226.55 Td (1,166,251) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 213.55 Td (Mortgage on equity accounted joint ventures \(at the Company's interest\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 441.25 213.55 Td (13,065) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.45 213.55 Td (10,425) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 200.55 Td (Senior unsecured debentures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 429.80 200.55 Td (2,250,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.10 200.55 Td (2,160,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 187.55 Td (Convertible debentures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 436.70 187.55 Td (386,865) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.90 187.55 Td (388,174) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 174.55 Td (Equity capitalization) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 161.55 Td (Common shares \(based on closing per share price of $19.73; December 31, 2014 ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 72.00 152.55 Td ($18.66\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 429.80 161.55 Td (4,379,047) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.10 161.55 Td (4,037,543) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 137.55 Td (Total enterprise value \(total capital employed\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 416.00 137.55 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 429.80 137.55 Td (8,116,422) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 496.00 137.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.10 137.55 Td (7,762,393) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 115.30 Td (En) Tj ET Q q 0 0 0 rg BT 64.04 115.30 Td (t) Tj ET Q q 0 0 0 rg BT 67.29 115.30 Td (erprise v) Tj ET Q q 0 0 0 rg BT 102.30 115.30 Td (alue c) Tj ET Q q 0 0 0 rg BT 126.02 115.30 Td (onsis) Tj ET Q q 0 0 0 rg BT 146.55 115.30 Td (ts of the mark) Tj ET Q q 0 0 0 rg BT 202.99 115.30 Td (e) Tj ET Q q 0 0 0 rg BT 207.91 115.30 Td (t v) Tj ET Q q 0 0 0 rg BT 217.89 115.30 Td (alue of the Compan) Tj ET Q q 0 0 0 rg BT 297.60 115.30 Td (y) Tj ET Q q 0 0 0 rg BT 302.43 115.30 Td () Tj ET Q q 0 0 0 rg BT 304.31 115.30 Td (s c) Tj ET Q q 0 0 0 rg BT 314.63 115.30 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 365.98 115.30 Td (es, the par v) Tj ET Q q 0 0 0 rg BT 415.62 115.30 Td (alue of senior unsecur) Tj ET Q q 0 0 0 rg BT 505.47 115.30 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 103.30 Td (deben) Tj ET Q q 0 0 0 rg BT 79.62 103.30 Td (tur) Tj ET Q q 0 0 0 rg BT 91.58 103.30 Td (es and c) Tj ET Q q 0 0 0 rg BT 124.43 103.30 Td (on) Tj ET Q q 0 0 0 rg BT 134.79 103.30 Td (v) Tj ET Q q 0 0 0 rg BT 139.21 103.30 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 193.72 103.30 Td (tur) Tj ET Q q 0 0 0 rg BT 205.68 103.30 Td (es, and principal amoun) Tj ET Q q 0 0 0 rg BT 302.76 103.30 Td (ts outs) Tj ET Q q 0 0 0 rg BT 329.96 103.30 Td (t) Tj ET Q q 0 0 0 rg BT 333.18 103.30 Td (anding on mortg) Tj ET Q q 0 0 0 rg BT 400.41 103.30 Td (ag) Tj ET Q q 0 0 0 rg BT 409.82 103.30 Td (es and cr) Tj ET Q q 0 0 0 rg BT 446.11 103.30 Td (edit f) Tj ET Q q 0 0 0 rg BT 467.10 103.30 Td (acilities.) Tj ET Q endstream endobj 91 0 obj <> endobj 92 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (44) Tj ET Q BT /F1 10.00 Tf ET BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 693.75 Td (K) Tj ET Q q 0 0 0 rg BT 59.79 693.75 Td (e) Tj ET Q q 0 0 0 rg BT 65.10 693.75 Td (y Me) Tj ET Q q 0 0 0 rg BT 87.70 693.75 Td (trics) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 678.75 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 678.75 Td (y c) Tj ET Q q 0 0 0 rg BT 116.00 678.75 Td (on) Tj ET Q q 0 0 0 rg BT 126.44 678.75 Td (tinues t) Tj ET Q q 0 0 0 rg BT 156.99 678.75 Td (o mak) Tj ET Q q 0 0 0 rg BT 181.52 678.75 Td (e pr) Tj ET Q q 0 0 0 rg BT 197.34 678.75 Td (ogr) Tj ET Q q 0 0 0 rg BT 210.67 678.75 Td (ess in r) Tj ET Q q 0 0 0 rg BT 238.90 678.75 Td (educing the c) Tj ET Q q 0 0 0 rg BT 293.11 678.75 Td (os) Tj ET Q q 0 0 0 rg BT 302.18 678.75 Td (t of deb) Tj ET Q q 0 0 0 rg BT 333.82 678.75 Td (t and s) Tj ET Q q 0 0 0 rg BT 360.79 678.75 Td (t) Tj ET Q q 0 0 0 rg BT 364.01 678.75 Td (ag) Tj ET Q q 0 0 0 rg BT 373.60 678.75 Td (g) Tj ET Q q 0 0 0 rg BT 378.23 678.75 Td (ering deb) Tj ET Q q 0 0 0 rg BT 416.65 678.75 Td (t ma) Tj ET Q q 0 0 0 rg BT 434.94 678.75 Td (turities. Impr) Tj ET Q q 0 0 0 rg BT 487.73 678.75 Td (o) Tj ET Q q 0 0 0 rg BT 492.96 678.75 Td (v) Tj ET Q q 0 0 0 rg BT 497.38 678.75 Td (emen) Tj ET Q q 0 0 0 rg BT 520.48 678.75 Td (ts ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 666.75 Td (ha) Tj ET Q q 0 0 0 rg BT 63.88 666.75 Td (v) Tj ET Q q 0 0 0 rg BT 68.30 666.75 Td (e been made in k) Tj ET Q q 0 0 0 rg BT 137.55 666.75 Td (e) Tj ET Q q 0 0 0 rg BT 142.47 666.75 Td (y deb) Tj ET Q q 0 0 0 rg BT 164.69 666.75 Td (t me) Tj ET Q q 0 0 0 rg BT 183.21 666.75 Td (trics o) Tj ET Q q 0 0 0 rg BT 207.97 666.75 Td (v) Tj ET Q q 0 0 0 rg BT 212.39 666.75 Td (er the pas) Tj ET Q q 0 0 0 rg BT 252.80 666.75 Td (t se) Tj ET Q q 0 0 0 rg BT 267.25 666.75 Td (v) Tj ET Q q 0 0 0 rg BT 271.67 666.75 Td (er) Tj ET Q q 0 0 0 rg BT 279.92 666.75 Td (al y) Tj ET Q q 0 0 0 rg BT 293.67 666.75 Td (ear) Tj ET Q q 0 0 0 rg BT 306.75 666.75 Td (s including w) Tj ET Q q 0 0 0 rg BT 359.08 666.75 Td (eigh) Tj ET Q q 0 0 0 rg BT 376.22 666.75 Td (t) Tj ET Q q 0 0 0 rg BT 379.46 666.75 Td (ed a) Tj ET Q q 0 0 0 rg BT 396.58 666.75 Td (v) Tj ET Q q 0 0 0 rg BT 401.00 666.75 Td (er) Tj ET Q q 0 0 0 rg BT 409.25 666.75 Td (ag) Tj ET Q q 0 0 0 rg BT 418.67 666.75 Td (e in) Tj ET Q q 0 0 0 rg BT 433.36 666.75 Td (t) Tj ET Q q 0 0 0 rg BT 436.60 666.75 Td (er) Tj ET Q q 0 0 0 rg BT 444.93 666.75 Td (es) Tj ET Q q 0 0 0 rg BT 453.71 666.75 Td (t r) Tj ET Q q 0 0 0 rg BT 462.60 666.75 Td (a) Tj ET Q q 0 0 0 rg BT 467.30 666.75 Td (t) Tj ET Q q 0 0 0 rg BT 470.54 666.75 Td (e, w) Tj ET Q q 0 0 0 rg BT 487.33 666.75 Td (eigh) Tj ET Q q 0 0 0 rg BT 504.47 666.75 Td (t) Tj ET Q q 0 0 0 rg BT 507.71 666.75 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 654.75 Td (a) Tj ET Q q 0 0 0 rg BT 58.62 654.75 Td (v) Tj ET Q q 0 0 0 rg BT 63.04 654.75 Td (er) Tj ET Q q 0 0 0 rg BT 71.30 654.75 Td (ag) Tj ET Q q 0 0 0 rg BT 80.71 654.75 Td (e r) Tj ET Q q 0 0 0 rg BT 91.30 654.75 Td (emaining t) Tj ET Q q 0 0 0 rg BT 134.37 654.75 Td (erm, and in) Tj ET Q q 0 0 0 rg BT 180.59 654.75 Td (t) Tj ET Q q 0 0 0 rg BT 183.83 654.75 Td (er) Tj ET Q q 0 0 0 rg BT 192.16 654.75 Td (es) Tj ET Q q 0 0 0 rg BT 200.93 654.75 Td (t c) Tj ET Q q 0 0 0 rg BT 210.69 654.75 Td (o) Tj ET Q q 0 0 0 rg BT 215.92 654.75 Td (v) Tj ET Q q 0 0 0 rg BT 220.34 654.75 Td (er) Tj ET Q q 0 0 0 rg BT 228.59 654.75 Td (ag) Tj ET Q q 0 0 0 rg BT 238.01 654.75 Td (e r) Tj ET Q q 0 0 0 rg BT 248.53 654.75 Td (a) Tj ET Q q 0 0 0 rg BT 253.22 654.75 Td (tios. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 636.75 Td (The r) Tj ET Q q 0 0 0 rg BT 74.64 636.75 Td (a) Tj ET Q q 0 0 0 rg BT 79.34 636.75 Td (tios belo) Tj ET Q q 0 0 0 rg BT 114.19 636.75 Td (w include measur) Tj ET Q q 0 0 0 rg BT 185.69 636.75 Td (es not specific) Tj ET Q q 0 0 0 rg BT 243.13 636.75 Td (ally de) Tj ET Q q 0 0 0 rg BT 269.44 636.75 Td (fined in IFR) Tj ET Q q 0 0 0 rg BT 314.75 636.75 Td (S. R) Tj ET Q q 0 0 0 rg BT 329.39 636.75 Td (e) Tj ET Q q 0 0 0 rg BT 334.27 636.75 Td (f) Tj ET Q q 0 0 0 rg BT 337.08 636.75 Td (er t) Tj ET Q q 0 0 0 rg BT 351.05 636.75 Td (o de) Tj ET Q q 0 0 0 rg BT 368.73 636.75 Td (finitions of these measur) Tj ET Q q 0 0 0 rg BT 469.55 636.75 Td (es further belo) Tj ET Q q 0 0 0 rg BT 529.58 636.75 Td (w ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 624.75 Td (f) Tj ET Q q 0 0 0 rg BT 56.84 624.75 Td (or additional in) Tj ET Q q 0 0 0 rg BT 118.46 624.75 Td (f) Tj ET Q q 0 0 0 rg BT 121.30 624.75 Td (orma) Tj ET Q q 0 0 0 rg BT 142.75 624.75 Td (tion.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 53.5 614.25 m 389.5 614.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 53.5 601.25 m 389.5 601.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 614.25 m 409.5 614.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389.5 601.25 m 409.5 601.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 614.25 m 468.5 614.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 409.5 601.25 m 468.5 601.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 614.25 m 488.5 614.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468.5 601.25 m 488.5 601.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 614.25 m 548.5 614.25 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488.5 601.25 m 548.5 601.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 53.5 509.25 m 389.5 509.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 509.25 m 409.5 509.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 509.25 m 468.5 509.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 509.25 m 488.5 509.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 509.25 m 548.5 509.25 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 56.00 604.75 Td (As at \(thousands of dollars, except for other data\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.65 605.75 Td (March 31, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 481.40 605.75 Td (December 31, 2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 592.00 Td (Weighted average effective interest rate on mortgages and senior unsecured debentures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 449.85 592.00 Td (4.8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 461.40 592.00 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 592.00 Td (4.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 592.00 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 578.00 Td (Weighted average maturity on mortgages and senior unsecured debentures \(years\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 453.45 578.00 Td (5.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.60 578.00 Td (5.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 565.00 Td (Ne) Tj ET Q q 0 0 0 rg BT 66.24 565.00 Td (t deb) Tj ET Q q 0 0 0 rg BT 85.18 565.00 Td (t t) Tj ET Q q 0 0 0 rg BT 93.16 565.00 Td (o t) Tj ET Q q 0 0 0 rg BT 102.87 565.00 Td (ot) Tj ET Q q 0 0 0 rg BT 110.52 565.00 Td (al asse) Tj ET Q q 0 0 0 rg BT 134.71 565.00 Td (ts ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 143.28 569.29 Td (\(1\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.30 565.00 Td (41.8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 461.40 565.00 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.55 565.00 Td (42.2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 565.00 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 552.00 Td (Ne) Tj ET Q q 0 0 0 rg BT 66.24 552.00 Td (t deb) Tj ET Q q 0 0 0 rg BT 85.18 552.00 Td (t t) Tj ET Q q 0 0 0 rg BT 93.16 552.00 Td (o EBITD) Tj ET Q q 0 0 0 rg BT 121.29 552.00 Td (A ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 128.53 556.29 Td (\(1\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 453.45 552.00 Td (8.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.60 552.00 Td (8.2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 540.00 Td (Unencumber) Tj ET Q q 0 0 0 rg BT 103.66 540.00 Td (ed ag) Tj ET Q q 0 0 0 rg BT 123.53 540.00 Td (gr) Tj ET Q q 0 0 0 rg BT 130.79 540.00 Td (eg) Tj ET Q q 0 0 0 rg BT 139.33 540.00 Td (a) Tj ET Q q 0 0 0 rg BT 143.56 540.00 Td (t) Tj ET Q q 0 0 0 rg BT 146.48 540.00 Td (e asse) Tj ET Q q 0 0 0 rg BT 168.77 540.00 Td (ts ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 177.34 544.29 Td (\(2\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 183.85 540.00 Td ( ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 424.80 539.00 Td (5,166,415) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 505.10 539.00 Td (4,959,208) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 527.00 Td (Unencumber) Tj ET Q q 0 0 0 rg BT 103.66 527.00 Td (ed ag) Tj ET Q q 0 0 0 rg BT 123.53 527.00 Td (gr) Tj ET Q q 0 0 0 rg BT 130.79 527.00 Td (eg) Tj ET Q q 0 0 0 rg BT 139.33 527.00 Td (a) Tj ET Q q 0 0 0 rg BT 143.56 527.00 Td (t) Tj ET Q q 0 0 0 rg BT 146.48 527.00 Td (e asse) Tj ET Q q 0 0 0 rg BT 168.77 527.00 Td (ts t) Tj ET Q q 0 0 0 rg BT 180.27 527.00 Td (o unsecur) Tj ET Q q 0 0 0 rg BT 216.06 527.00 Td (ed deb) Tj ET Q q 0 0 0 rg BT 241.19 527.00 Td (t, based on IFR) Tj ET Q q 0 0 0 rg BT 294.97 527.00 Td (S v) Tj ET Q q 0 0 0 rg BT 305.07 527.00 Td (alue ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 322.69 531.29 Td (\(2\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 453.45 526.00 Td (2.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.60 526.00 Td (2.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 513.00 Td (EBITD) Tj ET Q q 0 0 0 rg BT 77.35 513.00 Td (A in) Tj ET Q q 0 0 0 rg BT 91.30 513.00 Td (t) Tj ET Q q 0 0 0 rg BT 94.22 513.00 Td (er) Tj ET Q q 0 0 0 rg BT 101.72 513.00 Td (es) Tj ET Q q 0 0 0 rg BT 109.61 513.00 Td (t c) Tj ET Q q 0 0 0 rg BT 118.39 513.00 Td (o) Tj ET Q q 0 0 0 rg BT 123.10 513.00 Td (v) Tj ET Q q 0 0 0 rg BT 127.08 513.00 Td (er) Tj ET Q q 0 0 0 rg BT 134.51 513.00 Td (ag) Tj ET Q q 0 0 0 rg BT 142.98 513.00 Td (e ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 149.49 517.29 Td (\(1\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 453.45 513.00 Td (2.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.60 513.00 Td (2.3) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 498.69 Td (\(1\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 495.35 Td (Calcula) Tj ET Q q 0 0 0 rg BT 83.22 495.35 Td (t) Tj ET Q q 0 0 0 rg BT 85.49 495.35 Td (ed with the join) Tj ET Q q 0 0 0 rg BT 130.13 495.35 Td (t v) Tj ET Q q 0 0 0 rg BT 137.15 495.35 Td (en) Tj ET Q q 0 0 0 rg BT 144.24 495.35 Td (tur) Tj ET Q q 0 0 0 rg BT 152.61 495.35 Td (es, including join) Tj ET Q q 0 0 0 rg BT 200.12 495.35 Td (t v) Tj ET Q q 0 0 0 rg BT 207.14 495.35 Td (en) Tj ET Q q 0 0 0 rg BT 214.23 495.35 Td (tur) Tj ET Q q 0 0 0 rg BT 222.60 495.35 Td (es acc) Tj ET Q q 0 0 0 rg BT 239.62 495.35 Td (oun) Tj ET Q q 0 0 0 rg BT 250.60 495.35 Td (t) Tj ET Q q 0 0 0 rg BT 252.87 495.35 Td (ed f) Tj ET Q q 0 0 0 rg BT 263.60 495.35 Td (or on the equity basis under IFR) Tj ET Q q 0 0 0 rg BT 353.82 495.35 Td (S, pr) Tj ET Q q 0 0 0 rg BT 366.37 495.35 Td (oportiona) Tj ET Q q 0 0 0 rg BT 394.48 495.35 Td (t) Tj ET Q q 0 0 0 rg BT 396.75 495.35 Td (ely c) Tj ET Q q 0 0 0 rg BT 409.49 495.35 Td (onsolida) Tj ET Q q 0 0 0 rg BT 433.47 495.35 Td (t) Tj ET Q q 0 0 0 rg BT 435.74 495.35 Td (ed.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 487.34 Td (\(2\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 484.00 Td (Includes all unencumber) Tj ET Q q 0 0 0 rg BT 132.57 484.00 Td (ed asse) Tj ET Q q 0 0 0 rg BT 153.59 484.00 Td (ts a) Tj ET Q q 0 0 0 rg BT 163.54 484.00 Td (t IFR) Tj ET Q q 0 0 0 rg BT 176.16 484.00 Td (S v) Tj ET Q q 0 0 0 rg BT 184.01 484.00 Td (alues.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 462.95 Td (Measur) Tj ET Q q 0 0 0 rg BT 84.83 462.95 Td (es used in these r) Tj ET Q q 0 0 0 rg BT 155.46 462.95 Td (a) Tj ET Q q 0 0 0 rg BT 160.15 462.95 Td (tios ar) Tj ET Q q 0 0 0 rg BT 185.39 462.95 Td (e de) Tj ET Q q 0 0 0 rg BT 202.76 462.95 Td (fined belo) Tj ET Q q 0 0 0 rg BT 243.61 462.95 Td (w:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 447.95 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 447.95 Td (Deb) Tj ET Q q 0 0 0 rg BT 79.34 447.95 Td (t ) Tj ET Q q 0 0 0 rg BT 84.96 447.95 Td (c) Tj ET Q q 0 0 0 rg BT 89.11 447.95 Td (onsis) Tj ET Q q 0 0 0 rg BT 109.64 447.95 Td (ts ) Tj ET Q q 0 0 0 rg BT 119.17 447.95 Td (of ) Tj ET Q q 0 0 0 rg BT 129.77 447.95 Td (principal ) Tj ET Q q 0 0 0 rg BT 167.20 447.95 Td (amoun) Tj ET Q q 0 0 0 rg BT 195.67 447.95 Td (ts ) Tj ET Q q 0 0 0 rg BT 205.20 447.95 Td (outs) Tj ET Q q 0 0 0 rg BT 222.88 447.95 Td (t) Tj ET Q q 0 0 0 rg BT 226.10 447.95 Td (anding ) Tj ET Q q 0 0 0 rg BT 255.93 447.95 Td (on ) Tj ET Q q 0 0 0 rg BT 268.73 447.95 Td (mortg) Tj ET Q q 0 0 0 rg BT 293.35 447.95 Td (ag) Tj ET Q q 0 0 0 rg BT 302.77 447.95 Td (es ) Tj ET Q q 0 0 0 rg BT 313.93 447.95 Td (and ) Tj ET Q q 0 0 0 rg BT 331.50 447.95 Td (cr) Tj ET Q q 0 0 0 rg BT 339.08 447.95 Td (edit ) Tj ET Q q 0 0 0 rg BT 357.23 447.95 Td (f) Tj ET Q q 0 0 0 rg BT 360.08 447.95 Td (acilities, ) Tj ET Q q 0 0 0 rg BT 395.29 447.95 Td (and ) Tj ET Q q 0 0 0 rg BT 412.86 447.95 Td (the ) Tj ET Q q 0 0 0 rg BT 428.71 447.95 Td (par ) Tj ET Q q 0 0 0 rg BT 444.52 447.95 Td (v) Tj ET Q q 0 0 0 rg BT 448.89 447.95 Td (alue ) Tj ET Q q 0 0 0 rg BT 468.48 447.95 Td (of ) Tj ET Q q 0 0 0 rg BT 479.08 447.95 Td (senior ) Tj ET Q q 0 0 0 rg BT 506.54 447.95 Td (unsecur) Tj ET Q q 0 0 0 rg BT 538.78 447.95 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 435.95 Td (deben) Tj ET Q q 0 0 0 rg BT 88.62 435.95 Td (tur) Tj ET Q q 0 0 0 rg BT 100.58 435.95 Td (es. ) Tj ET Q q 0 0 0 rg BT 114.24 435.95 Td (Con) Tj ET Q q 0 0 0 rg BT 129.93 435.95 Td (v) Tj ET Q q 0 0 0 rg BT 134.35 435.95 Td (ertible ) Tj ET Q q 0 0 0 rg BT 163.23 435.95 Td (deben) Tj ET Q q 0 0 0 rg BT 188.85 435.95 Td (tur) Tj ET Q q 0 0 0 rg BT 200.81 435.95 Td (es ) Tj ET Q q 0 0 0 rg BT 211.95 435.95 Td (ar) Tj ET Q q 0 0 0 rg BT 220.09 435.95 Td (e ) Tj ET Q q 0 0 0 rg BT 227.32 435.95 Td (e) Tj ET Q q 0 0 0 rg BT 232.15 435.95 Td (x) Tj ET Q q 0 0 0 rg BT 236.25 435.95 Td (cluded ) Tj ET Q q 0 0 0 rg BT 265.76 435.95 Td (as ) Tj ET Q q 0 0 0 rg BT 276.72 435.95 Td (it ) Tj ET Q q 0 0 0 rg BT 284.61 435.95 Td (is ) Tj ET Q q 0 0 0 rg BT 293.07 435.95 Td (the ) Tj ET Q q 0 0 0 rg BT 308.90 435.95 Td (Compan) Tj ET Q q 0 0 0 rg BT 342.60 435.95 Td (y) Tj ET Q q 0 0 0 rg BT 347.43 435.95 Td () Tj ET Q q 0 0 0 rg BT 349.32 435.95 Td (s ) Tj ET Q q 0 0 0 rg BT 355.48 435.95 Td (in) Tj ET Q q 0 0 0 rg BT 362.94 435.95 Td (t) Tj ET Q q 0 0 0 rg BT 366.18 435.95 Td (en) Tj ET Q q 0 0 0 rg BT 376.32 435.95 Td (tion ) Tj ET Q q 0 0 0 rg BT 394.74 435.95 Td (t) Tj ET Q q 0 0 0 rg BT 397.99 435.95 Td (o ) Tj ET Q q 0 0 0 rg BT 405.51 435.95 Td (c) Tj ET Q q 0 0 0 rg BT 409.66 435.95 Td (on) Tj ET Q q 0 0 0 rg BT 420.09 435.95 Td (tinue ) Tj ET Q q 0 0 0 rg BT 443.47 435.95 Td (t) Tj ET Q q 0 0 0 rg BT 446.73 435.95 Td (o ) Tj ET Q q 0 0 0 rg BT 454.25 435.95 Td (sa) Tj ET Q q 0 0 0 rg BT 462.86 435.95 Td (tis) Tj ET Q q 0 0 0 rg BT 472.32 435.95 Td (f) Tj ET Q q 0 0 0 rg BT 475.42 435.95 Td (y ) Tj ET Q q 0 0 0 rg BT 482.20 435.95 Td (its ) Tj ET Q q 0 0 0 rg BT 494.01 435.95 Td (oblig) Tj ET Q q 0 0 0 rg BT 513.64 435.95 Td (a) Tj ET Q q 0 0 0 rg BT 518.34 435.95 Td (tions ) Tj ET Q q 0 0 0 rg BT 540.68 435.95 Td (of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 423.95 Td (principal ) Tj ET Q q 0 0 0 rg BT 101.02 423.95 Td (and ) Tj ET Q q 0 0 0 rg BT 119.19 423.95 Td (in) Tj ET Q q 0 0 0 rg BT 126.65 423.95 Td (t) Tj ET Q q 0 0 0 rg BT 129.89 423.95 Td (er) Tj ET Q q 0 0 0 rg BT 138.22 423.95 Td (es) Tj ET Q q 0 0 0 rg BT 146.99 423.95 Td (t ) Tj ET Q q 0 0 0 rg BT 153.21 423.95 Td (pa) Tj ET Q q 0 0 0 rg BT 163.07 423.95 Td (ymen) Tj ET Q q 0 0 0 rg BT 185.72 423.95 Td (ts ) Tj ET Q q 0 0 0 rg BT 195.85 423.95 Td (in ) Tj ET Q q 0 0 0 rg BT 206.27 423.95 Td (r) Tj ET Q q 0 0 0 rg BT 209.63 423.95 Td (espect ) Tj ET Q q 0 0 0 rg BT 239.19 423.95 Td (of ) Tj ET Q q 0 0 0 rg BT 250.39 423.95 Td (all ) Tj ET Q q 0 0 0 rg BT 262.64 423.95 Td (of ) Tj ET Q q 0 0 0 rg BT 273.83 423.95 Td (its ) Tj ET Q q 0 0 0 rg BT 286.26 423.95 Td (outs) Tj ET Q q 0 0 0 rg BT 303.93 423.95 Td (t) Tj ET Q q 0 0 0 rg BT 307.16 423.95 Td (anding ) Tj ET Q q 0 0 0 rg BT 337.58 423.95 Td (c) Tj ET Q q 0 0 0 rg BT 341.73 423.95 Td (on) Tj ET Q q 0 0 0 rg BT 352.09 423.95 Td (v) Tj ET Q q 0 0 0 rg BT 356.51 423.95 Td (ertible ) Tj ET Q q 0 0 0 rg BT 386.01 423.95 Td (deben) Tj ET Q q 0 0 0 rg BT 411.63 423.95 Td (tur) Tj ET Q q 0 0 0 rg BT 423.59 423.95 Td (es ) Tj ET Q q 0 0 0 rg BT 435.35 423.95 Td (b) Tj ET Q q 0 0 0 rg BT 440.55 423.95 Td (y ) Tj ET Q q 0 0 0 rg BT 447.95 423.95 Td (the ) Tj ET Q q 0 0 0 rg BT 464.40 423.95 Td (issuance ) Tj ET Q q 0 0 0 rg BT 501.89 423.95 Td (of ) Tj ET Q q 0 0 0 rg BT 513.08 423.95 Td (c) Tj ET Q q 0 0 0 rg BT 517.23 423.95 Td (ommon ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 411.95 Td (shar) Tj ET Q q 0 0 0 rg BT 80.31 411.95 Td (es;) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 393.95 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 393.95 Td (Ne) Tj ET Q q 0 0 0 rg BT 74.38 393.95 Td (t ) Tj ET Q q 0 0 0 rg BT 79.99 393.95 Td (deb) Tj ET Q q 0 0 0 rg BT 95.43 393.95 Td (t ) Tj ET Q q 0 0 0 rg BT 101.04 393.95 Td (is ) Tj ET Q q 0 0 0 rg BT 109.50 393.95 Td (c) Tj ET Q q 0 0 0 rg BT 113.65 393.95 Td (alcula) Tj ET Q q 0 0 0 rg BT 137.21 393.95 Td (t) Tj ET Q q 0 0 0 rg BT 140.45 393.95 Td (ed ) Tj ET Q q 0 0 0 rg BT 152.94 393.95 Td (as ) Tj ET Q q 0 0 0 rg BT 163.90 393.95 Td (Deb) Tj ET Q q 0 0 0 rg BT 180.24 393.95 Td (t, ) Tj ET Q q 0 0 0 rg BT 188.35 393.95 Td (as ) Tj ET Q q 0 0 0 rg BT 199.31 393.95 Td (de) Tj ET Q q 0 0 0 rg BT 209.45 393.95 Td (fined ) Tj ET Q q 0 0 0 rg BT 232.54 393.95 Td (abo) Tj ET Q q 0 0 0 rg BT 247.81 393.95 Td (v) Tj ET Q q 0 0 0 rg BT 252.23 393.95 Td (e, ) Tj ET Q q 0 0 0 rg BT 261.96 393.95 Td (r) Tj ET Q q 0 0 0 rg BT 265.32 393.95 Td (educed ) Tj ET Q q 0 0 0 rg BT 297.52 393.95 Td (b) Tj ET Q q 0 0 0 rg BT 302.73 393.95 Td (y ) Tj ET Q q 0 0 0 rg BT 309.51 393.95 Td (c) Tj ET Q q 0 0 0 rg BT 313.66 393.95 Td (ash ) Tj ET Q q 0 0 0 rg BT 329.88 393.95 Td (balances ) Tj ET Q q 0 0 0 rg BT 367.63 393.95 Td (a) Tj ET Q q 0 0 0 rg BT 372.33 393.95 Td (t ) Tj ET Q q 0 0 0 rg BT 377.94 393.95 Td (the ) Tj ET Q q 0 0 0 rg BT 393.78 393.95 Td (end ) Tj ET Q q 0 0 0 rg BT 411.53 393.95 Td (of ) Tj ET Q q 0 0 0 rg BT 422.11 393.95 Td (the ) Tj ET Q q 0 0 0 rg BT 437.95 393.95 Td (period; ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 375.95 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 375.95 Td (EBITD) Tj ET Q q 0 0 0 rg BT 86.72 375.95 Td (A) Tj ET Q q 0 0 0 rg BT 92.58 375.95 Td (, as adjus) Tj ET Q q 0 0 0 rg BT 129.79 375.95 Td (t) Tj ET Q q 0 0 0 rg BT 133.03 375.95 Td (ed, is c) Tj ET Q q 0 0 0 rg BT 160.63 375.95 Td (alcula) Tj ET Q q 0 0 0 rg BT 184.19 375.95 Td (t) Tj ET Q q 0 0 0 rg BT 187.43 375.95 Td (ed as ne) Tj ET Q q 0 0 0 rg BT 221.06 375.95 Td (t inc) Tj ET Q q 0 0 0 rg BT 238.36 375.95 Td (ome, adding back inc) Tj ET Q q 0 0 0 rg BT 323.94 375.95 Td (ome t) Tj ET Q q 0 0 0 rg BT 347.67 375.95 Td (a) Tj ET Q q 0 0 0 rg BT 352.37 375.95 Td (x e) Tj ET Q q 0 0 0 rg BT 363.78 375.95 Td (xpense, in) Tj ET Q q 0 0 0 rg BT 404.69 375.95 Td (t) Tj ET Q q 0 0 0 rg BT 407.94 375.95 Td (er) Tj ET Q q 0 0 0 rg BT 416.27 375.95 Td (es) Tj ET Q q 0 0 0 rg BT 425.04 375.95 Td (t e) Tj ET Q q 0 0 0 rg BT 435.48 375.95 Td (xpense and amortiz) Tj ET Q q 0 0 0 rg BT 514.96 375.95 Td (a) Tj ET Q q 0 0 0 rg BT 519.66 375.95 Td (tion ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 363.95 Td (and e) Tj ET Q q 0 0 0 rg BT 85.38 363.95 Td (x) Tj ET Q q 0 0 0 rg BT 89.49 363.95 Td (cluding the incr) Tj ET Q q 0 0 0 rg BT 152.01 363.95 Td (ease or decr) Tj ET Q q 0 0 0 rg BT 201.75 363.95 Td (ease in the v) Tj ET Q q 0 0 0 rg BT 252.69 363.95 Td (alue of in) Tj ET Q q 0 0 0 rg BT 290.23 363.95 Td (v) Tj ET Q q 0 0 0 rg BT 294.65 363.95 Td (es) Tj ET Q q 0 0 0 rg BT 303.42 363.95 Td (tmen) Tj ET Q q 0 0 0 rg BT 324.90 363.95 Td (t pr) Tj ET Q q 0 0 0 rg BT 339.09 363.95 Td (operties, other g) Tj ET Q q 0 0 0 rg BT 406.49 363.95 Td (ains \(losses\) and \(e) Tj ET Q q 0 0 0 rg BT 483.01 363.95 Td (xpenses\) and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 351.95 Td (other non-c) Tj ET Q q 0 0 0 rg BT 110.59 351.95 Td (ash or non-r) Tj ET Q q 0 0 0 rg BT 160.02 351.95 Td (ecurring it) Tj ET Q q 0 0 0 rg BT 201.51 351.95 Td (ems. The Compan) Tj ET Q q 0 0 0 rg BT 274.24 351.95 Td (y also adjus) Tj ET Q q 0 0 0 rg BT 321.04 351.95 Td (ts f) Tj ET Q q 0 0 0 rg BT 333.41 351.95 Td (or incr) Tj ET Q q 0 0 0 rg BT 359.56 351.95 Td (emen) Tj ET Q q 0 0 0 rg BT 382.66 351.95 Td (t) Tj ET Q q 0 0 0 rg BT 385.89 351.95 Td (al leasing c) Tj ET Q q 0 0 0 rg BT 429.87 351.95 Td (os) Tj ET Q q 0 0 0 rg BT 438.94 351.95 Td (ts and c) Tj ET Q q 0 0 0 rg BT 470.16 351.95 Td (os) Tj ET Q q 0 0 0 rg BT 479.24 351.95 Td (ts not c) Tj ET Q q 0 0 0 rg BT 509.04 351.95 Td (apit) Tj ET Q q 0 0 0 rg BT 524.61 351.95 Td (aliz) Tj ET Q q 0 0 0 rg BT 537.71 351.95 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 339.95 Td (during the de) Tj ET Q q 0 0 0 rg BT 117.53 339.95 Td (v) Tj ET Q q 0 0 0 rg BT 121.95 339.95 Td (elopmen) Tj ET Q q 0 0 0 rg BT 157.87 339.95 Td (t period, which ar) Tj ET Q q 0 0 0 rg BT 229.36 339.95 Td (e r) Tj ET Q q 0 0 0 rg BT 239.95 339.95 Td (ec) Tj ET Q q 0 0 0 rg BT 249.07 339.95 Td (ogniz) Tj ET Q q 0 0 0 rg BT 270.33 339.95 Td (ed adjus) Tj ET Q q 0 0 0 rg BT 304.31 339.95 Td (tmen) Tj ET Q q 0 0 0 rg BT 325.78 339.95 Td (ts t) Tj ET Q q 0 0 0 rg BT 338.56 339.95 Td (o FF) Tj ET Q q 0 0 0 rg BT 355.19 339.95 Td (O and AFF) Tj ET Q q 0 0 0 rg BT 396.52 339.95 Td (O) Tj ET Q q 0 0 0 rg BT 402.91 339.95 Td (, r) Tj ET Q q 0 0 0 rg BT 411.02 339.95 Td (espectiv) Tj ET Q q 0 0 0 rg BT 444.43 339.95 Td (ely;) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 321.95 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 321.95 Td (Unencumber) Tj ET Q q 0 0 0 rg BT 115.95 321.95 Td (ed asse) Tj ET Q q 0 0 0 rg BT 145.98 321.95 Td (ts include the v) Tj ET Q q 0 0 0 rg BT 207.53 321.95 Td (alue of asse) Tj ET Q q 0 0 0 rg BT 255.22 321.95 Td (ts tha) Tj ET Q q 0 0 0 rg BT 278.04 321.95 Td (t ha) Tj ET Q q 0 0 0 rg BT 293.53 321.95 Td (v) Tj ET Q q 0 0 0 rg BT 297.95 321.95 Td (e not been pledg) Tj ET Q q 0 0 0 rg BT 366.45 321.95 Td (ed as security under an) Tj ET Q q 0 0 0 rg BT 460.53 321.95 Td (y cr) Tj ET Q q 0 0 0 rg BT 474.90 321.95 Td (edit agr) Tj ET Q q 0 0 0 rg BT 505.89 321.95 Td (eemen) Tj ET Q q 0 0 0 rg BT 533.96 321.95 Td (t or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 309.95 Td (mortg) Tj ET Q q 0 0 0 rg BT 87.62 309.95 Td (ag) Tj ET Q q 0 0 0 rg BT 97.03 309.95 Td (e. The unencumber) Tj ET Q q 0 0 0 rg BT 175.95 309.95 Td (ed ag) Tj ET Q q 0 0 0 rg BT 198.03 309.95 Td (gr) Tj ET Q q 0 0 0 rg BT 206.09 309.95 Td (eg) Tj ET Q q 0 0 0 rg BT 215.59 309.95 Td (a) Tj ET Q q 0 0 0 rg BT 220.29 309.95 Td (t) Tj ET Q q 0 0 0 rg BT 223.53 309.95 Td (e asse) Tj ET Q q 0 0 0 rg BT 248.30 309.95 Td (ts t) Tj ET Q q 0 0 0 rg BT 261.07 309.95 Td (o unsecur) Tj ET Q q 0 0 0 rg BT 300.84 309.95 Td (ed deb) Tj ET Q q 0 0 0 rg BT 328.77 309.95 Td (t r) Tj ET Q q 0 0 0 rg BT 337.66 309.95 Td (a) Tj ET Q q 0 0 0 rg BT 342.36 309.95 Td (tio is c) Tj ET Q q 0 0 0 rg BT 368.15 309.95 Td (alcula) Tj ET Q q 0 0 0 rg BT 391.71 309.95 Td (t) Tj ET Q q 0 0 0 rg BT 394.95 309.95 Td (ed as unencumber) Tj ET Q q 0 0 0 rg BT 470.19 309.95 Td (ed asse) Tj ET Q q 0 0 0 rg BT 500.22 309.95 Td (ts divided ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 297.95 Td (b) Tj ET Q q 0 0 0 rg BT 68.21 297.95 Td (y the principal amoun) Tj ET Q q 0 0 0 rg BT 156.71 297.95 Td (t of the unsecur) Tj ET Q q 0 0 0 rg BT 220.98 297.95 Td (ed deb) Tj ET Q q 0 0 0 rg BT 248.91 297.95 Td (t, which c) Tj ET Q q 0 0 0 rg BT 287.60 297.95 Td (onsis) Tj ET Q q 0 0 0 rg BT 308.13 297.95 Td (ts of the senior unsecur) Tj ET Q q 0 0 0 rg BT 403.77 297.95 Td (ed deben) Tj ET Q q 0 0 0 rg BT 441.88 297.95 Td (tur) Tj ET Q q 0 0 0 rg BT 453.83 297.95 Td (es and an) Tj ET Q q 0 0 0 rg BT 492.40 297.95 Td (y dr) Tj ET Q q 0 0 0 rg BT 507.72 297.95 Td (a) Tj ET Q q 0 0 0 rg BT 512.44 297.95 Td (w) Tj ET Q q 0 0 0 rg BT 519.50 297.95 Td (s ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 285.95 Td (under the unsecur) Tj ET Q q 0 0 0 rg BT 137.56 285.95 Td (ed f) Tj ET Q q 0 0 0 rg BT 152.90 285.95 Td (acility) Tj ET Q q 0 0 0 rg BT 176.02 285.95 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 267.95 Td (Since ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 77.61 267.95 Td (Januar) Tj ET Q q 0 0 0 rg BT 104.42 267.95 Td (y 1, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 141.30 267.95 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 195.61 267.95 Td (y has issued ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 246.47 267.95 Td ($600 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 296.70 267.95 Td ( of unsecur) Tj ET Q q 0 0 0 rg BT 341.78 267.95 Td (ed deb) Tj ET Q q 0 0 0 rg BT 369.71 267.95 Td (t f) Tj ET Q q 0 0 0 rg BT 378.16 267.95 Td (or t) Tj ET Q q 0 0 0 rg BT 392.42 267.95 Td (erms fr) Tj ET Q q 0 0 0 rg BT 421.42 267.95 Td (om ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 436.94 267.95 Td (10.5) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.67 267.95 Td ( y) Tj ET Q q 0 0 0 rg BT 461.34 267.95 Td (ear) Tj ET Q q 0 0 0 rg BT 474.42 267.95 Td (s t) Tj ET Q q 0 0 0 rg BT 483.84 267.95 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 491.38 267.95 Td (11.1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 509.11 267.95 Td ( y) Tj ET Q q 0 0 0 rg BT 515.77 267.95 Td (ear) Tj ET Q q 0 0 0 rg BT 528.85 267.95 Td (s ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 255.95 Td (using a portion of the pr) Tj ET Q q 0 0 0 rg BT 152.18 255.95 Td (oceeds t) Tj ET Q q 0 0 0 rg BT 186.31 255.95 Td (o r) Tj ET Q q 0 0 0 rg BT 197.20 255.95 Td (epa) Tj ET Q q 0 0 0 rg BT 212.04 255.95 Td (y early o) Tj ET Q q 0 0 0 rg BT 246.39 255.95 Td (v) Tj ET Q q 0 0 0 rg BT 250.81 255.95 Td (er ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 261.53 255.95 Td ($279 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 311.76 255.95 Td ( in deb) Tj ET Q q 0 0 0 rg BT 339.27 255.95 Td (t and o) Tj ET Q q 0 0 0 rg BT 367.67 255.95 Td (v) Tj ET Q q 0 0 0 rg BT 372.09 255.95 Td (er ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 382.81 255.95 Td ($224 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 433.04 255.95 Td ( in deb) Tj ET Q q 0 0 0 rg BT 460.55 255.95 Td (t upon ma) Tj ET Q q 0 0 0 rg BT 502.14 255.95 Td (turity ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 243.95 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 243.95 Td (esulting in s) Tj ET Q q 0 0 0 rg BT 105.26 243.95 Td (t) Tj ET Q q 0 0 0 rg BT 108.49 243.95 Td (able t) Tj ET Q q 0 0 0 rg BT 131.31 243.95 Td (erm t) Tj ET Q q 0 0 0 rg BT 153.27 243.95 Td (o ma) Tj ET Q q 0 0 0 rg BT 173.49 243.95 Td (turity f) Tj ET Q q 0 0 0 rg BT 200.86 243.95 Td (or all fix) Tj ET Q q 0 0 0 rg BT 232.93 243.95 Td (ed-r) Tj ET Q q 0 0 0 rg BT 249.50 243.95 Td (a) Tj ET Q q 0 0 0 rg BT 254.20 243.95 Td (t) Tj ET Q q 0 0 0 rg BT 257.44 243.95 Td (e t) Tj ET Q q 0 0 0 rg BT 267.92 243.95 Td (erm deb) Tj ET Q q 0 0 0 rg BT 302.07 243.95 Td (t a) Tj ET Q q 0 0 0 rg BT 312.38 243.95 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 317.99 243.95 Td (5.9) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 330.65 243.95 Td ( y) Tj ET Q q 0 0 0 rg BT 337.32 243.95 Td (ear) Tj ET Q q 0 0 0 rg BT 350.40 243.95 Td (s be) Tj ET Q q 0 0 0 rg BT 366.74 243.95 Td (tw) Tj ET Q q 0 0 0 rg BT 377.15 243.95 Td (een ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 394.62 243.95 Td (Januar) Tj ET Q q 0 0 0 rg BT 421.43 243.95 Td (y 1, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 458.32 243.95 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 478.14 243.95 Td (Mar) Tj ET Q q 0 0 0 rg BT 494.82 243.95 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 541.72 243.95 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 231.95 Td (In addition, the Compan) Tj ET Q q 0 0 0 rg BT 152.10 231.95 Td (y incr) Tj ET Q q 0 0 0 rg BT 174.02 231.95 Td (eased its equity c) Tj ET Q q 0 0 0 rg BT 244.06 231.95 Td (apit) Tj ET Q q 0 0 0 rg BT 259.63 231.95 Td (al b) Tj ET Q q 0 0 0 rg BT 274.18 231.95 Td (y appr) Tj ET Q q 0 0 0 rg BT 299.59 231.95 Td (o) Tj ET Q q 0 0 0 rg BT 304.67 231.95 Td (xima) Tj ET Q q 0 0 0 rg BT 323.98 231.95 Td (t) Tj ET Q q 0 0 0 rg BT 327.22 231.95 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 341.28 231.95 Td ($248 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 391.51 231.95 Td ( as w) Tj ET Q q 0 0 0 rg BT 411.79 231.95 Td (ell as its cr) Tj ET Q q 0 0 0 rg BT 453.98 231.95 Td (edit f) Tj ET Q q 0 0 0 rg BT 474.97 231.95 Td (acilities b) Tj ET Q q 0 0 0 rg BT 512.87 231.95 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 219.95 Td (appr) Tj ET Q q 0 0 0 rg BT 72.62 219.95 Td (o) Tj ET Q q 0 0 0 rg BT 77.70 219.95 Td (xima) Tj ET Q q 0 0 0 rg BT 97.01 219.95 Td (t) Tj ET Q q 0 0 0 rg BT 100.25 219.95 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 114.31 219.95 Td ($200 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 164.54 219.95 Td ( since the beginning of 2014.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 201.95 Td (These financings, along with planned and c) Tj ET Q q 0 0 0 rg BT 227.97 201.95 Td (omple) Tj ET Q q 0 0 0 rg BT 253.71 201.95 Td (t) Tj ET Q q 0 0 0 rg BT 256.95 201.95 Td (ed financings sub) Tj ET Q q 0 0 0 rg BT 327.11 201.95 Td (sequen) Tj ET Q q 0 0 0 rg BT 356.64 201.95 Td (t t) Tj ET Q q 0 0 0 rg BT 365.50 201.95 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 373.04 201.95 Td (Mar) Tj ET Q q 0 0 0 rg BT 389.72 201.95 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 436.63 201.95 Td (, and a) Tj ET Q q 0 0 0 rg BT 463.57 201.95 Td (v) Tj ET Q q 0 0 0 rg BT 467.94 201.95 Td (ailability on e) Tj ET Q q 0 0 0 rg BT 521.99 201.95 Td (xis) Tj ET Q q 0 0 0 rg BT 532.42 201.95 Td (ting ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 189.95 Td (cr) Tj ET Q q 0 0 0 rg BT 61.58 189.95 Td (edit f) Tj ET Q q 0 0 0 rg BT 82.57 189.95 Td (acilities, addr) Tj ET Q q 0 0 0 rg BT 136.42 189.95 Td (ess sub) Tj ET Q q 0 0 0 rg BT 165.85 189.95 Td (s) Tj ET Q q 0 0 0 rg BT 169.64 189.95 Td (t) Tj ET Q q 0 0 0 rg BT 172.87 189.95 Td (an) Tj ET Q q 0 0 0 rg BT 182.82 189.95 Td (tially all of the r) Tj ET Q q 0 0 0 rg BT 246.06 189.95 Td (emaining c) Tj ET Q q 0 0 0 rg BT 290.02 189.95 Td (on) Tj ET Q q 0 0 0 rg BT 300.46 189.95 Td (tr) Tj ET Q q 0 0 0 rg BT 307.09 189.95 Td (actual 2015 deb) Tj ET Q q 0 0 0 rg BT 372.03 189.95 Td (t ma) Tj ET Q q 0 0 0 rg BT 390.32 189.95 Td (turities and c) Tj ET Q q 0 0 0 rg BT 443.20 189.95 Td (on) Tj ET Q q 0 0 0 rg BT 453.64 189.95 Td (tr) Tj ET Q q 0 0 0 rg BT 460.27 189.95 Td (actually c) Tj ET Q q 0 0 0 rg BT 498.20 189.95 Td (ommit) Tj ET Q q 0 0 0 rg BT 524.96 189.95 Td (t) Tj ET Q q 0 0 0 rg BT 528.20 189.95 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 177.95 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 177.95 Td (os) Tj ET Q q 0 0 0 rg BT 67.22 177.95 Td (ts t) Tj ET Q q 0 0 0 rg BT 79.99 177.95 Td (o c) Tj ET Q q 0 0 0 rg BT 91.67 177.95 Td (omple) Tj ET Q q 0 0 0 rg BT 117.40 177.95 Td (t) Tj ET Q q 0 0 0 rg BT 120.65 177.95 Td (e curr) Tj ET Q q 0 0 0 rg BT 144.21 177.95 Td (en) Tj ET Q q 0 0 0 rg BT 154.34 177.95 Td (t de) Tj ET Q q 0 0 0 rg BT 170.13 177.95 Td (v) Tj ET Q q 0 0 0 rg BT 174.55 177.95 Td (elopmen) Tj ET Q q 0 0 0 rg BT 210.47 177.95 Td (t pr) Tj ET Q q 0 0 0 rg BT 224.66 177.95 Td (ojects.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 159.95 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 159.95 Td (y also uses c) Tj ET Q q 0 0 0 rg BT 154.84 159.95 Td (on) Tj ET Q q 0 0 0 rg BT 165.21 159.95 Td (v) Tj ET Q q 0 0 0 rg BT 169.63 159.95 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 224.14 159.95 Td (tur) Tj ET Q q 0 0 0 rg BT 236.09 159.95 Td (es as a part of its o) Tj ET Q q 0 0 0 rg BT 312.03 159.95 Td (v) Tj ET Q q 0 0 0 rg BT 316.45 159.95 Td (er) Tj ET Q q 0 0 0 rg BT 324.70 159.95 Td (all c) Tj ET Q q 0 0 0 rg BT 340.49 159.95 Td (apit) Tj ET Q q 0 0 0 rg BT 356.06 159.95 Td (al s) Tj ET Q q 0 0 0 rg BT 369.20 159.95 Td (tructur) Tj ET Q q 0 0 0 rg BT 397.48 159.95 Td (e. It is the Compan) Tj ET Q q 0 0 0 rg BT 473.38 159.95 Td (y) Tj ET Q q 0 0 0 rg BT 478.21 159.95 Td () Tj ET Q q 0 0 0 rg BT 480.09 159.95 Td (s curr) Tj ET Q q 0 0 0 rg BT 502.59 159.95 Td (en) Tj ET Q q 0 0 0 rg BT 512.73 159.95 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 147.95 Td (in) Tj ET Q q 0 0 0 rg BT 61.46 147.95 Td (t) Tj ET Q q 0 0 0 rg BT 64.70 147.95 Td (en) Tj ET Q q 0 0 0 rg BT 74.83 147.95 Td (tion t) Tj ET Q q 0 0 0 rg BT 96.52 147.95 Td (o c) Tj ET Q q 0 0 0 rg BT 108.20 147.95 Td (on) Tj ET Q q 0 0 0 rg BT 118.63 147.95 Td (tinue t) Tj ET Q q 0 0 0 rg BT 145.27 147.95 Td (o sa) Tj ET Q q 0 0 0 rg BT 161.42 147.95 Td (tis) Tj ET Q q 0 0 0 rg BT 170.88 147.95 Td (f) Tj ET Q q 0 0 0 rg BT 173.98 147.95 Td (y its oblig) Tj ET Q q 0 0 0 rg BT 212.22 147.95 Td (a) Tj ET Q q 0 0 0 rg BT 216.92 147.95 Td (tions of principal and in) Tj ET Q q 0 0 0 rg BT 312.28 147.95 Td (t) Tj ET Q q 0 0 0 rg BT 315.52 147.95 Td (er) Tj ET Q q 0 0 0 rg BT 323.85 147.95 Td (es) Tj ET Q q 0 0 0 rg BT 332.62 147.95 Td (t pa) Tj ET Q q 0 0 0 rg BT 348.09 147.95 Td (ymen) Tj ET Q q 0 0 0 rg BT 370.74 147.95 Td (ts in r) Tj ET Q q 0 0 0 rg BT 393.43 147.95 Td (espect of all of its outs) Tj ET Q q 0 0 0 rg BT 484.69 147.95 Td (t) Tj ET Q q 0 0 0 rg BT 487.92 147.95 Td (anding ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 135.95 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 135.95 Td (on) Tj ET Q q 0 0 0 rg BT 68.51 135.95 Td (v) Tj ET Q q 0 0 0 rg BT 72.93 135.95 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 127.44 135.95 Td (tur) Tj ET Q q 0 0 0 rg BT 139.40 135.95 Td (es thr) Tj ET Q q 0 0 0 rg BT 162.47 135.95 Td (ough the issuance of c) Tj ET Q q 0 0 0 rg BT 252.67 135.95 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 304.02 135.95 Td (es. Since issuance, the Compan) Tj ET Q q 0 0 0 rg BT 430.22 135.95 Td (y has made all principal and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 123.95 Td (in) Tj ET Q q 0 0 0 rg BT 61.46 123.95 Td (t) Tj ET Q q 0 0 0 rg BT 64.70 123.95 Td (er) Tj ET Q q 0 0 0 rg BT 73.03 123.95 Td (es) Tj ET Q q 0 0 0 rg BT 81.80 123.95 Td (t pa) Tj ET Q q 0 0 0 rg BT 97.27 123.95 Td (ymen) Tj ET Q q 0 0 0 rg BT 119.92 123.95 Td (ts on its c) Tj ET Q q 0 0 0 rg BT 158.19 123.95 Td (on) Tj ET Q q 0 0 0 rg BT 168.56 123.95 Td (v) Tj ET Q q 0 0 0 rg BT 172.97 123.95 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 227.49 123.95 Td (tur) Tj ET Q q 0 0 0 rg BT 239.44 123.95 Td (es using c) Tj ET Q q 0 0 0 rg BT 278.42 123.95 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 329.77 123.95 Td (es.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 105.95 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 105.95 Td (y in) Tj ET Q q 0 0 0 rg BT 119.31 105.95 Td (t) Tj ET Q q 0 0 0 rg BT 122.55 105.95 Td (ends t) Tj ET Q q 0 0 0 rg BT 147.46 105.95 Td (o main) Tj ET Q q 0 0 0 rg BT 175.23 105.95 Td (t) Tj ET Q q 0 0 0 rg BT 178.46 105.95 Td (ain financial s) Tj ET Q q 0 0 0 rg BT 233.37 105.95 Td (tr) Tj ET Q q 0 0 0 rg BT 240.07 105.95 Td (eng) Tj ET Q q 0 0 0 rg BT 254.86 105.95 Td (th t) Tj ET Q q 0 0 0 rg BT 268.98 105.95 Td (o achie) Tj ET Q q 0 0 0 rg BT 298.00 105.95 Td (v) Tj ET Q q 0 0 0 rg BT 302.42 105.95 Td (e a r) Tj ET Q q 0 0 0 rg BT 320.06 105.95 Td (easonable c) Tj ET Q q 0 0 0 rg BT 367.99 105.95 Td (os) Tj ET Q q 0 0 0 rg BT 377.06 105.95 Td (t of deb) Tj ET Q q 0 0 0 rg BT 408.70 105.95 Td (t and equity c) Tj ET Q q 0 0 0 rg BT 463.93 105.95 Td (apit) Tj ET Q q 0 0 0 rg BT 479.49 105.95 Td (al o) Tj ET Q q 0 0 0 rg BT 494.07 105.95 Td (v) Tj ET Q q 0 0 0 rg BT 498.49 105.95 Td (er the long ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 93.95 Td (t) Tj ET Q q 0 0 0 rg BT 57.24 93.95 Td (erm. When it is deemed appr) Tj ET Q q 0 0 0 rg BT 175.80 93.95 Td (opria) Tj ET Q q 0 0 0 rg BT 196.80 93.95 Td (t) Tj ET Q q 0 0 0 rg BT 200.04 93.95 Td (e, the Compan) Tj ET Q q 0 0 0 rg BT 259.32 93.95 Td (y will r) Tj ET Q q 0 0 0 rg BT 285.68 93.95 Td (aise equity as a sour) Tj ET Q q 0 0 0 rg BT 367.62 93.95 Td (ce of financing and ma) Tj ET Q q 0 0 0 rg BT 459.21 93.95 Td (y s) Tj ET Q q 0 0 0 rg BT 469.80 93.95 Td (tr) Tj ET Q q 0 0 0 rg BT 476.43 93.95 Td (a) Tj ET Q q 0 0 0 rg BT 481.13 93.95 Td (t) Tj ET Q q 0 0 0 rg BT 484.37 93.95 Td (egic) Tj ET Q q 0 0 0 rg BT 500.49 93.95 Td (ally sell ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 81.95 Td (non-c) Tj ET Q q 0 0 0 rg BT 76.99 81.95 Td (or) Tj ET Q q 0 0 0 rg BT 85.62 81.95 Td (e asse) Tj ET Q q 0 0 0 rg BT 110.39 81.95 Td (ts t) Tj ET Q q 0 0 0 rg BT 123.16 81.95 Td (o bes) Tj ET Q q 0 0 0 rg BT 144.72 81.95 Td (t r) Tj ET Q q 0 0 0 rg BT 153.69 81.95 Td (edeplo) Tj ET Q q 0 0 0 rg BT 181.66 81.95 Td (y c) Tj ET Q q 0 0 0 rg BT 192.59 81.95 Td (apit) Tj ET Q q 0 0 0 rg BT 208.16 81.95 Td (al and t) Tj ET Q q 0 0 0 rg BT 238.29 81.95 Td (ak) Tj ET Q q 0 0 0 rg BT 247.31 81.95 Td (e adv) Tj ET Q q 0 0 0 rg BT 268.96 81.95 Td (an) Tj ET Q q 0 0 0 rg BT 278.91 81.95 Td (t) Tj ET Q q 0 0 0 rg BT 282.13 81.95 Td (ag) Tj ET Q q 0 0 0 rg BT 291.55 81.95 Td (e of mark) Tj ET Q q 0 0 0 rg BT 329.86 81.95 Td (e) Tj ET Q q 0 0 0 rg BT 334.78 81.95 Td (t opportunities.) Tj ET Q endstream endobj 93 0 obj <> endobj 94 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (45) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 693.00 Td (Cr) Tj ET Q q 0 0 0 rg BT 64.48 693.00 Td (edit Ra) Tj ET Q q 0 0 0 rg BT 99.35 693.00 Td (tings) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 678.00 Td (Since No) Tj ET Q q 0 0 0 rg BT 89.29 678.00 Td (v) Tj ET Q q 0 0 0 rg BT 93.71 678.00 Td (ember 2012, DBR) Tj ET Q q 0 0 0 rg BT 164.57 678.00 Td (S has r) Tj ET Q q 0 0 0 rg BT 190.92 678.00 Td (a) Tj ET Q q 0 0 0 rg BT 195.62 678.00 Td (t) Tj ET Q q 0 0 0 rg BT 198.86 678.00 Td (ed the Compan) Tj ET Q q 0 0 0 rg BT 260.90 678.00 Td (y) Tj ET Q q 0 0 0 rg BT 265.73 678.00 Td () Tj ET Q q 0 0 0 rg BT 267.61 678.00 Td (s senior unsecur) Tj ET Q q 0 0 0 rg BT 333.47 678.00 Td (ed deben) Tj ET Q q 0 0 0 rg BT 371.58 678.00 Td (tur) Tj ET Q q 0 0 0 rg BT 383.54 678.00 Td (es as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 405.65 678.00 Td (BBB \(high\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 447.80 678.00 Td ( with a ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 477.42 678.00 Td (s) Tj ET Q q 0 0 0 rg BT 481.22 678.00 Td (t) Tj ET Q q 0 0 0 rg BT 484.45 678.00 Td (able) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 501.76 678.00 Td ( tr) Tj ET Q q 0 0 0 rg BT 510.73 678.00 Td (end. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 666.00 Td (Acc) Tj ET Q q 0 0 0 rg BT 68.16 666.00 Td (or) Tj ET Q q 0 0 0 rg BT 76.78 666.00 Td (ding t) Tj ET Q q 0 0 0 rg BT 99.81 666.00 Td (o DBR) Tj ET Q q 0 0 0 rg BT 124.23 666.00 Td (S, a cr) Tj ET Q q 0 0 0 rg BT 148.21 666.00 Td (edit r) Tj ET Q q 0 0 0 rg BT 169.63 666.00 Td (a) Tj ET Q q 0 0 0 rg BT 174.33 666.00 Td (ting in the BBB c) Tj ET Q q 0 0 0 rg BT 240.57 666.00 Td (a) Tj ET Q q 0 0 0 rg BT 245.26 666.00 Td (t) Tj ET Q q 0 0 0 rg BT 248.51 666.00 Td (eg) Tj ET Q q 0 0 0 rg BT 258.12 666.00 Td (or) Tj ET Q q 0 0 0 rg BT 266.93 666.00 Td (y is g) Tj ET Q q 0 0 0 rg BT 286.81 666.00 Td (ener) Tj ET Q q 0 0 0 rg BT 305.29 666.00 Td (ally an indic) Tj ET Q q 0 0 0 rg BT 353.01 666.00 Td (a) Tj ET Q q 0 0 0 rg BT 357.71 666.00 Td (tion of adequa) Tj ET Q q 0 0 0 rg BT 416.95 666.00 Td (t) Tj ET Q q 0 0 0 rg BT 420.19 666.00 Td (e cr) Tj ET Q q 0 0 0 rg BT 435.01 666.00 Td (edit quality and an ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 654.00 Td (accep) Tj ET Q q 0 0 0 rg BT 77.43 654.00 Td (t) Tj ET Q q 0 0 0 rg BT 80.66 654.00 Td (able c) Tj ET Q q 0 0 0 rg BT 104.38 654.00 Td (apacity f) Tj ET Q q 0 0 0 rg BT 138.72 654.00 Td (or the pa) Tj ET Q q 0 0 0 rg BT 175.44 654.00 Td (ymen) Tj ET Q q 0 0 0 rg BT 198.09 654.00 Td (t of financial oblig) Tj ET Q q 0 0 0 rg BT 270.44 654.00 Td (a) Tj ET Q q 0 0 0 rg BT 275.13 654.00 Td (tions. DBR) Tj ET Q q 0 0 0 rg BT 316.89 654.00 Td (S indic) Tj ET Q q 0 0 0 rg BT 342.99 654.00 Td (a) Tj ET Q q 0 0 0 rg BT 347.69 654.00 Td (t) Tj ET Q q 0 0 0 rg BT 350.93 654.00 Td (es tha) Tj ET Q q 0 0 0 rg BT 375.38 654.00 Td (t BBB r) Tj ET Q q 0 0 0 rg BT 402.85 654.00 Td (a) Tj ET Q q 0 0 0 rg BT 407.54 654.00 Td (t) Tj ET Q q 0 0 0 rg BT 410.79 654.00 Td (ed oblig) Tj ET Q q 0 0 0 rg BT 442.92 654.00 Td (a) Tj ET Q q 0 0 0 rg BT 447.61 654.00 Td (tions ma) Tj ET Q q 0 0 0 rg BT 482.55 654.00 Td (y be vulner) Tj ET Q q 0 0 0 rg BT 527.40 654.00 Td (able ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 642.00 Td (t) Tj ET Q q 0 0 0 rg BT 57.25 642.00 Td (o futur) Tj ET Q q 0 0 0 rg BT 85.05 642.00 Td (e e) Tj ET Q q 0 0 0 rg BT 97.21 642.00 Td (v) Tj ET Q q 0 0 0 rg BT 101.63 642.00 Td (en) Tj ET Q q 0 0 0 rg BT 111.77 642.00 Td (ts. A r) Tj ET Q q 0 0 0 rg BT 135.14 642.00 Td (a) Tj ET Q q 0 0 0 rg BT 139.84 642.00 Td (ting tr) Tj ET Q q 0 0 0 rg BT 164.41 642.00 Td (end, e) Tj ET Q q 0 0 0 rg BT 189.47 642.00 Td (xpr) Tj ET Q q 0 0 0 rg BT 202.41 642.00 Td (essed as positiv) Tj ET Q q 0 0 0 rg BT 265.46 642.00 Td (e, s) Tj ET Q q 0 0 0 rg BT 278.99 642.00 Td (t) Tj ET Q q 0 0 0 rg BT 282.22 642.00 Td (able or neg) Tj ET Q q 0 0 0 rg BT 327.56 642.00 Td (a) Tj ET Q q 0 0 0 rg BT 332.26 642.00 Td (tiv) Tj ET Q q 0 0 0 rg BT 342.33 642.00 Td (e, pr) Tj ET Q q 0 0 0 rg BT 360.64 642.00 Td (o) Tj ET Q q 0 0 0 rg BT 365.87 642.00 Td (vides guidance in r) Tj ET Q q 0 0 0 rg BT 441.26 642.00 Td (espect of DBR) Tj ET Q q 0 0 0 rg BT 497.69 642.00 Td (S) Tj ET Q q 0 0 0 rg BT 502.22 642.00 Td ( opinion ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 630.00 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 630.00 Td (eg) Tj ET Q q 0 0 0 rg BT 66.85 630.00 Td (ar) Tj ET Q q 0 0 0 rg BT 74.99 630.00 Td (ding the outlook f) Tj ET Q q 0 0 0 rg BT 146.97 630.00 Td (or the r) Tj ET Q q 0 0 0 rg BT 177.11 630.00 Td (a) Tj ET Q q 0 0 0 rg BT 181.81 630.00 Td (ting in ques) Tj ET Q q 0 0 0 rg BT 228.77 630.00 Td (tion. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 612.00 Td (Since No) Tj ET Q q 0 0 0 rg BT 89.29 612.00 Td (v) Tj ET Q q 0 0 0 rg BT 93.71 612.00 Td (ember 2012, Moody) Tj ET Q q 0 0 0 rg BT 176.86 612.00 Td () Tj ET Q q 0 0 0 rg BT 178.75 612.00 Td (s has r) Tj ET Q q 0 0 0 rg BT 204.42 612.00 Td (a) Tj ET Q q 0 0 0 rg BT 209.11 612.00 Td (t) Tj ET Q q 0 0 0 rg BT 212.35 612.00 Td (ed the Compan) Tj ET Q q 0 0 0 rg BT 274.39 612.00 Td (y) Tj ET Q q 0 0 0 rg BT 279.22 612.00 Td () Tj ET Q q 0 0 0 rg BT 281.10 612.00 Td (s senior unsecur) Tj ET Q q 0 0 0 rg BT 346.96 612.00 Td (ed deben) Tj ET Q q 0 0 0 rg BT 385.07 612.00 Td (tur) Tj ET Q q 0 0 0 rg BT 397.03 612.00 Td (es as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 419.14 612.00 Td (Baa2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 439.23 612.00 Td ( with a ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 468.85 612.00 Td (s) Tj ET Q q 0 0 0 rg BT 472.65 612.00 Td (t) Tj ET Q q 0 0 0 rg BT 475.88 612.00 Td (able) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.19 612.00 Td ( outlook. As ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 600.00 Td (de) Tj ET Q q 0 0 0 rg BT 64.14 600.00 Td (fined b) Tj ET Q q 0 0 0 rg BT 92.44 600.00 Td (y Moody) Tj ET Q q 0 0 0 rg BT 128.40 600.00 Td () Tj ET Q q 0 0 0 rg BT 130.29 600.00 Td (s, a cr) Tj ET Q q 0 0 0 rg BT 153.59 600.00 Td (edit r) Tj ET Q q 0 0 0 rg BT 175.01 600.00 Td (a) Tj ET Q q 0 0 0 rg BT 179.70 600.00 Td (ting of Baa2 denot) Tj ET Q q 0 0 0 rg BT 254.50 600.00 Td (es tha) Tj ET Q q 0 0 0 rg BT 278.95 600.00 Td (t these deben) Tj ET Q q 0 0 0 rg BT 334.91 600.00 Td (tur) Tj ET Q q 0 0 0 rg BT 346.87 600.00 Td (es ar) Tj ET Q q 0 0 0 rg BT 366.16 600.00 Td (e subject t) Tj ET Q q 0 0 0 rg BT 408.27 600.00 Td (o moder) Tj ET Q q 0 0 0 rg BT 442.58 600.00 Td (a) Tj ET Q q 0 0 0 rg BT 447.28 600.00 Td (t) Tj ET Q q 0 0 0 rg BT 450.52 600.00 Td (e cr) Tj ET Q q 0 0 0 rg BT 465.34 600.00 Td (edit risk and ar) Tj ET Q q 0 0 0 rg BT 525.67 600.00 Td (e of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 588.00 Td (medium gr) Tj ET Q q 0 0 0 rg BT 98.00 588.00 Td (ade and, as such, ma) Tj ET Q q 0 0 0 rg BT 182.30 588.00 Td (y possess cert) Tj ET Q q 0 0 0 rg BT 238.41 588.00 Td (ain specula) Tj ET Q q 0 0 0 rg BT 283.62 588.00 Td (tiv) Tj ET Q q 0 0 0 rg BT 293.69 588.00 Td (e char) Tj ET Q q 0 0 0 rg BT 318.48 588.00 Td (act) Tj ET Q q 0 0 0 rg BT 330.74 588.00 Td (eris) Tj ET Q q 0 0 0 rg BT 345.29 588.00 Td (tics. A r) Tj ET Q q 0 0 0 rg BT 375.19 588.00 Td (a) Tj ET Q q 0 0 0 rg BT 379.89 588.00 Td (ting outlook pr) Tj ET Q q 0 0 0 rg BT 439.86 588.00 Td (o) Tj ET Q q 0 0 0 rg BT 445.09 588.00 Td (vided b) Tj ET Q q 0 0 0 rg BT 474.85 588.00 Td (y Moody) Tj ET Q q 0 0 0 rg BT 510.82 588.00 Td () Tj ET Q q 0 0 0 rg BT 512.70 588.00 Td (s, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 576.00 Td (e) Tj ET Q q 0 0 0 rg BT 58.82 576.00 Td (xpr) Tj ET Q q 0 0 0 rg BT 71.76 576.00 Td (essed as positiv) Tj ET Q q 0 0 0 rg BT 134.81 576.00 Td (e, s) Tj ET Q q 0 0 0 rg BT 148.34 576.00 Td (t) Tj ET Q q 0 0 0 rg BT 151.57 576.00 Td (able, neg) Tj ET Q q 0 0 0 rg BT 188.39 576.00 Td (a) Tj ET Q q 0 0 0 rg BT 193.09 576.00 Td (tiv) Tj ET Q q 0 0 0 rg BT 203.15 576.00 Td (e or de) Tj ET Q q 0 0 0 rg BT 231.59 576.00 Td (v) Tj ET Q q 0 0 0 rg BT 236.01 576.00 Td (eloping) Tj ET Q q 0 0 0 rg BT 266.17 576.00 Td (, is an opinion r) Tj ET Q q 0 0 0 rg BT 328.21 576.00 Td (eg) Tj ET Q q 0 0 0 rg BT 337.71 576.00 Td (ar) Tj ET Q q 0 0 0 rg BT 345.85 576.00 Td (ding the outlook f) Tj ET Q q 0 0 0 rg BT 417.83 576.00 Td (or the r) Tj ET Q q 0 0 0 rg BT 447.97 576.00 Td (a) Tj ET Q q 0 0 0 rg BT 452.67 576.00 Td (ting in ques) Tj ET Q q 0 0 0 rg BT 499.63 576.00 Td (tion o) Tj ET Q q 0 0 0 rg BT 523.29 576.00 Td (v) Tj ET Q q 0 0 0 rg BT 527.71 576.00 Td (er ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 564.00 Td (the medium t) Tj ET Q q 0 0 0 rg BT 109.10 564.00 Td (erm.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 540.60 Td (Consolida) Tj ET Q q 0 0 0 rg BT 102.63 540.60 Td (t) Tj ET Q q 0 0 0 rg BT 106.64 540.60 Td (ed Deb) Tj ET Q q 0 0 0 rg BT 141.83 540.60 Td (t and Principal Amortiz) Tj ET Q q 0 0 0 rg BT 255.73 540.60 Td (a) Tj ET Q q 0 0 0 rg BT 261.54 540.60 Td (tion Ma) Tj ET Q q 0 0 0 rg BT 300.55 540.60 Td (turity Pr) Tj ET Q q 0 0 0 rg BT 341.43 540.60 Td (ofile) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 530.1 m 274.5 530.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 503.1 m 274.5 503.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 530.1 m 294.5 530.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 274.5 503.1 m 294.5 503.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 530.1 m 349.5 530.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 294.5 503.1 m 349.5 503.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 530.1 m 369.5 530.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 349.5 503.1 m 369.5 503.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 530.1 m 424.5 530.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369.5 503.1 m 424.5 503.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 530.1 m 444.5 530.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 424.5 503.1 m 444.5 503.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 530.1 m 499.5 530.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 444.5 503.1 m 499.5 503.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 530.1 m 554.5 530.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 499.5 503.1 m 554.5 503.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 357.1 m 274.5 357.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 357.1 m 274.5 357.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 344.1 m 274.5 344.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 274.5 357.1 m 294.5 357.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 274.5 344.1 m 294.5 344.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 294.5 357.1 m 349.5 357.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 294.5 344.1 m 349.5 344.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 349.5 357.1 m 369.5 357.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 349.5 344.1 m 369.5 344.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369.5 357.1 m 424.5 357.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369.5 344.1 m 424.5 344.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 424.5 357.1 m 444.5 357.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 424.5 344.1 m 444.5 344.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 444.5 357.1 m 499.5 357.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 444.5 344.1 m 499.5 344.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 499.5 357.1 m 554.5 357.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 499.5 344.1 m 554.5 344.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 274.5 322.1 m 294.5 322.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 294.5 322.1 m 349.5 322.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 349.5 322.1 m 369.5 322.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369.5 322.1 m 424.5 322.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 424.5 322.1 m 444.5 322.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 444.5 322.1 m 499.5 322.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 499.5 322.1 m 554.5 322.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 322.1 m 274.5 322.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 307.1 m 274.5 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 307.1 m 294.5 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 307.1 m 349.5 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 307.1 m 369.5 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 307.1 m 424.5 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 307.1 m 444.5 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 307.1 m 499.5 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 307.1 m 554.5 307.1 l s BT /F4 7.50 Tf ET q 0 0 0 rg BT 57.00 507.48 Td (\(thousands of dollars, except for percentages\)) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 313.35 521.98 Td (Mortgages) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 315.05 514.48 Td (and Other) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 305.05 506.98 Td (Secured Debt) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 401.55 521.98 Td (Senior) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 388.25 514.48 Td (Unsecured) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 385.45 506.98 Td (Debentures) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 481.30 507.48 Td (Total) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 531.65 507.48 Td (% Due) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 493.85 Td (2015 \(remainder of the year\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 297.00 493.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 316.60 493.85 Td (164,436) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 372.00 493.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 413.10 493.85 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 447.00 493.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.60 493.85 Td (164,436) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.15 493.85 Td (4.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.55 493.85 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 478.85 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 316.60 478.85 Td (189,841) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 413.10 478.85 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.60 478.85 Td (189,841) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.15 478.85 Td (5.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.55 478.85 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 464.85 Td (2017) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 316.60 464.85 Td (104,588) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.60 464.85 Td (250,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.60 464.85 Td (354,588) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.55 464.85 Td (10.6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.55 464.85 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 451.85 Td (2018) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 316.60 451.85 Td (140,741) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.60 451.85 Td (150,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.60 451.85 Td (290,741) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.15 451.85 Td (8.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.55 451.85 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 438.85 Td (2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 316.60 438.85 Td (121,528) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.60 438.85 Td (150,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.60 438.85 Td (271,528) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.15 438.85 Td (8.1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.55 438.85 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 425.85 Td (2020) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 321.15 425.85 Td (58,841) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.60 425.85 Td (175,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.60 425.85 Td (233,841) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.15 425.85 Td (7.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.55 425.85 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 412.85 Td (2021) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 321.15 412.85 Td (84,418) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.60 412.85 Td (175,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.60 412.85 Td (259,418) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.15 412.85 Td (7.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.55 412.85 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 399.85 Td (2022) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 316.60 399.85 Td (156,343) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.60 399.85 Td (450,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.60 399.85 Td (606,343) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.55 399.85 Td (18.2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.55 399.85 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 386.85 Td (2023) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 325.75 386.85 Td (3,523) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.60 386.85 Td (300,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.60 386.85 Td (303,523) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.15 386.85 Td (9.1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.55 386.85 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 373.85 Td (2024) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 321.15 373.85 Td (62,281) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.60 373.85 Td (300,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.60 373.85 Td (362,281) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.55 373.85 Td (10.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.55 373.85 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 360.85 Td (2025 and thereafter) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 332.55 360.85 Td (905) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.60 360.85 Td (300,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.60 360.85 Td (300,905) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.15 360.85 Td (9.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.55 360.85 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 309.80 347.85 Td (1,087,445) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.80 347.85 Td (2,250,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 459.80 347.85 Td (3,337,445) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.00 347.85 Td (100.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.55 347.85 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 334.85 Td (Add \(deduct\): unamortized deferred financing costs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 325.85 Td (and premium and discounts, net) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 325.75 326.85 Td (6,363) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 398.00 326.85 Td (\(6,909) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 421.25 326.85 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 479.80 326.85 Td (\(546) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 496.25 326.85 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 312.85 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 297.00 311.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 309.80 311.85 Td (1,093,808) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 372.00 311.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.80 311.85 Td (2,243,091) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 447.00 311.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 459.80 311.85 Td (3,336,899) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 284.20 Td (Mortg) Tj ET Q q 0 0 0 rg BT 84.85 284.20 Td (ag) Tj ET Q q 0 0 0 rg BT 96.33 284.20 Td (es and Cr) Tj ET Q q 0 0 0 rg BT 141.87 284.20 Td (edit F) Tj ET Q q 0 0 0 rg BT 169.35 284.20 Td (acilities) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 269.20 Td (The chang) Tj ET Q q 0 0 0 rg BT 95.51 269.20 Td (es in the book v) Tj ET Q q 0 0 0 rg BT 159.29 269.20 Td (alue of the Compan) Tj ET Q q 0 0 0 rg BT 239.00 269.20 Td (y) Tj ET Q q 0 0 0 rg BT 243.82 269.20 Td () Tj ET Q q 0 0 0 rg BT 245.71 269.20 Td (s mortg) Tj ET Q q 0 0 0 rg BT 276.50 269.20 Td (ag) Tj ET Q q 0 0 0 rg BT 285.91 269.20 Td (es and cr) Tj ET Q q 0 0 0 rg BT 322.20 269.20 Td (edit f) Tj ET Q q 0 0 0 rg BT 343.19 269.20 Td (acilities during the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 420.24 269.20 Td (thr) Tj ET Q q 0 0 0 rg BT 432.20 269.20 Td (ee mon) Tj ET Q q 0 0 0 rg BT 462.83 269.20 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 522.26 269.20 Td (ch 31, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 257.20 Td (2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.27 257.20 Td (, e) Tj ET Q q 0 0 0 rg BT 83.85 257.20 Td (x) Tj ET Q q 0 0 0 rg BT 87.96 257.20 Td (cluding the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 135.35 257.20 Td ($13.1 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 188.10 257.20 Td ( mortg) Tj ET Q q 0 0 0 rg BT 214.98 257.20 Td (ag) Tj ET Q q 0 0 0 rg BT 224.40 257.20 Td (e on an equity acc) Tj ET Q q 0 0 0 rg BT 297.80 257.20 Td (oun) Tj ET Q q 0 0 0 rg BT 313.49 257.20 Td (t) Tj ET Q q 0 0 0 rg BT 316.73 257.20 Td (ed join) Tj ET Q q 0 0 0 rg BT 344.35 257.20 Td (t v) Tj ET Q q 0 0 0 rg BT 354.38 257.20 Td (en) Tj ET Q q 0 0 0 rg BT 364.51 257.20 Td (tur) Tj ET Q q 0 0 0 rg BT 376.47 257.20 Td (e, ar) Tj ET Q q 0 0 0 rg BT 394.35 257.20 Td (e se) Tj ET Q q 0 0 0 rg BT 410.42 257.20 Td (t out belo) Tj ET Q q 0 0 0 rg BT 449.92 257.20 Td (w: ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 246.70000000000005 m 391.5 246.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 213.70000000000005 m 391.5 213.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 246.70000000000005 m 446.5 246.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 391.5 213.70000000000005 m 446.5 213.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 246.70000000000005 m 494.5 246.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 213.70000000000005 m 494.5 213.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 246.70000000000005 m 549.5 246.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494.5 213.70000000000005 m 549.5 213.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 213.70000000000005 m 391.5 213.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 391.5 213.70000000000005 m 446.5 213.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 213.70000000000005 m 494.5 213.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494.5 213.70000000000005 m 549.5 213.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 161.70000000000005 m 391.5 161.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 391.5 161.70000000000005 m 446.5 161.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446.5 161.70000000000005 m 494.5 161.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494.5 161.70000000000005 m 549.5 161.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 148.70000000000005 m 391.5 148.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 148.70000000000005 m 446.5 148.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 148.70000000000005 m 494.5 148.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 148.70000000000005 m 549.5 148.70000000000005 l s BT /F4 7.50 Tf ET q 0 0 0 rg BT 57.00 218.08 Td (\(thousands of dollars, except for percentages\)) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 397.20 233.08 Td (Mortgages and) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 399.05 225.58 Td (Other Secured) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 428.20 218.08 Td (Debt) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 461.60 238.58 Td (Weighted) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 466.45 231.08 Td (Average) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 465.05 223.58 Td (Effective) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 452.00 216.08 Td (Interest Rate) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 546.00 225.58 Td () Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 531.30 218.08 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 204.45 Td (Balance at beginning of period) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 394.00 204.45 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 406.80 204.45 Td (1,173,410) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 476.15 204.45 Td (4.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 487.55 204.45 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.00 204.45 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.80 204.45 Td (1,173,410) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 191.45 Td (Repayments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 415.45 191.45 Td (\(70,480) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 443.25 191.45 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 476.15 191.45 Td (4.1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 487.55 191.45 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 518.45 191.45 Td (\(70,480) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.25 191.45 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 178.45 Td (Scheduled amortization) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.00 178.45 Td (\(8,324) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 443.25 178.45 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 479.40 178.45 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 523.00 178.45 Td (\(8,324) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.25 178.45 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 165.45 Td (Amortization and expensing of issue costs and net premium) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 426.80 165.45 Td (\(798) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 443.25 165.45 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 479.40 165.45 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.80 165.45 Td (\(798) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.25 165.45 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 152.45 Td (Balance at end of period) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 394.00 152.45 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 406.80 152.45 Td (1,093,808) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 476.15 152.45 Td (4.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 487.55 152.45 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.00 152.45 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.80 152.45 Td (1,093,808) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 131.20 Td (As a) Tj ET Q q 0 0 0 rg BT 70.66 131.20 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 76.27 131.20 Td (Mar) Tj ET Q q 0 0 0 rg BT 92.95 131.20 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 139.85 131.20 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 144.61 131.20 Td (100%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 166.96 131.20 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 172.26 131.20 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 251.72 131.20 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 261.22 131.20 Td (100%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 283.58 131.20 Td (\) of the outs) Tj ET Q q 0 0 0 rg BT 332.97 131.20 Td (t) Tj ET Q q 0 0 0 rg BT 336.20 131.20 Td (anding mortg) Tj ET Q q 0 0 0 rg BT 390.63 131.20 Td (ag) Tj ET Q q 0 0 0 rg BT 400.04 131.20 Td (es bor) Tj ET Q q 0 0 0 rg BT 425.07 131.20 Td (e in) Tj ET Q q 0 0 0 rg BT 439.77 131.20 Td (t) Tj ET Q q 0 0 0 rg BT 443.01 131.20 Td (er) Tj ET Q q 0 0 0 rg BT 451.34 131.20 Td (es) Tj ET Q q 0 0 0 rg BT 460.11 131.20 Td (t a) Tj ET Q q 0 0 0 rg BT 470.42 131.20 Td (t fix) Tj ET Q q 0 0 0 rg BT 485.45 131.20 Td (ed in) Tj ET Q q 0 0 0 rg BT 505.39 131.20 Td (t) Tj ET Q q 0 0 0 rg BT 508.63 131.20 Td (er) Tj ET Q q 0 0 0 rg BT 516.96 131.20 Td (es) Tj ET Q q 0 0 0 rg BT 525.74 131.20 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 119.20 Td (r) Tj ET Q q 0 0 0 rg BT 57.28 119.20 Td (a) Tj ET Q q 0 0 0 rg BT 61.98 119.20 Td (t) Tj ET Q q 0 0 0 rg BT 65.22 119.20 Td (es. The a) Tj ET Q q 0 0 0 rg BT 100.88 119.20 Td (v) Tj ET Q q 0 0 0 rg BT 105.30 119.20 Td (er) Tj ET Q q 0 0 0 rg BT 113.56 119.20 Td (ag) Tj ET Q q 0 0 0 rg BT 122.97 119.20 Td (e r) Tj ET Q q 0 0 0 rg BT 133.56 119.20 Td (emaining t) Tj ET Q q 0 0 0 rg BT 176.62 119.20 Td (erm of mortg) Tj ET Q q 0 0 0 rg BT 230.54 119.20 Td (ag) Tj ET Q q 0 0 0 rg BT 239.95 119.20 Td (es outs) Tj ET Q q 0 0 0 rg BT 268.78 119.20 Td (t) Tj ET Q q 0 0 0 rg BT 272.00 119.20 Td (anding decr) Tj ET Q q 0 0 0 rg BT 319.63 119.20 Td (eased fr) Tj ET Q q 0 0 0 rg BT 352.17 119.20 Td (om ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 367.70 119.20 Td (3.8) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 380.36 119.20 Td ( y) Tj ET Q q 0 0 0 rg BT 387.02 119.20 Td (ear) Tj ET Q q 0 0 0 rg BT 400.10 119.20 Td (s as a) Tj ET Q q 0 0 0 rg BT 421.93 119.20 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 427.54 119.20 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 507.01 119.20 Td ( on ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 107.20 Td ($1.2 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 98.95 107.20 Td ( of mortg) Tj ET Q q 0 0 0 rg BT 136.42 107.20 Td (ag) Tj ET Q q 0 0 0 rg BT 145.83 107.20 Td (es t) Tj ET Q q 0 0 0 rg BT 160.23 107.20 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 167.76 107.20 Td (3.7) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 180.43 107.20 Td ( y) Tj ET Q q 0 0 0 rg BT 187.09 107.20 Td (ear) Tj ET Q q 0 0 0 rg BT 200.17 107.20 Td (s as a) Tj ET Q q 0 0 0 rg BT 222.00 107.20 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 227.61 107.20 Td (Mar) Tj ET Q q 0 0 0 rg BT 244.29 107.20 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 291.20 107.20 Td ( on ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 306.25 107.20 Td ($1.1 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 351.20 107.20 Td ( of mortg) Tj ET Q q 0 0 0 rg BT 388.67 107.20 Td (ag) Tj ET Q q 0 0 0 rg BT 398.08 107.20 Td (es a) Tj ET Q q 0 0 0 rg BT 413.96 107.20 Td (ft) Tj ET Q q 0 0 0 rg BT 420.25 107.20 Td (er r) Tj ET Q q 0 0 0 rg BT 434.33 107.20 Td (e) Tj ET Q q 0 0 0 rg BT 439.22 107.20 Td (flecting borr) Tj ET Q q 0 0 0 rg BT 488.98 107.20 Td (o) Tj ET Q q 0 0 0 rg BT 494.21 107.20 Td (wing ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 95.20 Td (activity) Tj ET Q q 0 0 0 rg BT 82.64 95.20 Td (, assump) Tj ET Q q 0 0 0 rg BT 118.46 95.20 Td (tions and r) Tj ET Q q 0 0 0 rg BT 161.71 95.20 Td (epa) Tj ET Q q 0 0 0 rg BT 176.55 95.20 Td (ymen) Tj ET Q q 0 0 0 rg BT 199.20 95.20 Td (ts during the period.) Tj ET Q endstream endobj 95 0 obj <> endobj 96 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (46) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 694.50 Td (During the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.25 694.50 Td (thr) Tj ET Q q 0 0 0 rg BT 111.21 694.50 Td (ee mon) Tj ET Q q 0 0 0 rg BT 141.84 694.50 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 201.27 694.50 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.18 694.50 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 302.48 694.50 Td (y r) Tj ET Q q 0 0 0 rg BT 312.62 694.50 Td (epaid a) Tj ET Q q 0 0 0 rg BT 342.15 694.50 Td (t ma) Tj ET Q q 0 0 0 rg BT 360.45 694.50 Td (turity ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.97 694.50 Td ($70.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.72 694.50 Td ( amoun) Tj ET Q q 0 0 0 rg BT 468.45 694.50 Td (t of mortg) Tj ET Q q 0 0 0 rg BT 509.26 694.50 Td (ag) Tj ET Q q 0 0 0 rg BT 518.68 694.50 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 682.50 Td (financing with a w) Tj ET Q q 0 0 0 rg BT 127.81 682.50 Td (eigh) Tj ET Q q 0 0 0 rg BT 144.95 682.50 Td (t) Tj ET Q q 0 0 0 rg BT 148.19 682.50 Td (ed a) Tj ET Q q 0 0 0 rg BT 165.30 682.50 Td (v) Tj ET Q q 0 0 0 rg BT 169.72 682.50 Td (er) Tj ET Q q 0 0 0 rg BT 177.98 682.50 Td (ag) Tj ET Q q 0 0 0 rg BT 187.39 682.50 Td (e e) Tj ET Q q 0 0 0 rg BT 199.52 682.50 Td (f) Tj ET Q q 0 0 0 rg BT 202.47 682.50 Td (f) Tj ET Q q 0 0 0 rg BT 205.27 682.50 Td (ectiv) Tj ET Q q 0 0 0 rg BT 224.54 682.50 Td (e in) Tj ET Q q 0 0 0 rg BT 239.23 682.50 Td (t) Tj ET Q q 0 0 0 rg BT 242.48 682.50 Td (er) Tj ET Q q 0 0 0 rg BT 250.81 682.50 Td (es) Tj ET Q q 0 0 0 rg BT 259.58 682.50 Td (t r) Tj ET Q q 0 0 0 rg BT 268.47 682.50 Td (a) Tj ET Q q 0 0 0 rg BT 273.17 682.50 Td (t) Tj ET Q q 0 0 0 rg BT 276.41 682.50 Td (e of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 294.23 682.50 Td (4.12%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 319.11 682.50 Td ( per annum. ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 660.30 Td (Mort) Tj ET Q q 0 0 0 rg BT 76.97 660.30 Td (gage Maturity and Lender T) Tj ET Q q 0 0 0 rg BT 203.84 660.30 Td (ype Profile) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 649.8 m 210.5 649.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 628.8 m 210.5 628.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 649.8 m 260.5 649.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 210.5 628.8 m 260.5 628.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 649.8 m 310.5 649.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260.5 628.8 m 310.5 628.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 649.8 m 360.5 649.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310.5 628.8 m 360.5 628.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 649.8 m 411.5 649.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360.5 628.8 m 411.5 628.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 649.8 m 457.5 649.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 411.5 628.8 m 457.5 628.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 649.8 m 500.5 649.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 457.5 628.8 m 500.5 628.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 649.8 m 556.5 649.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 628.8 m 556.5 628.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 595.8 m 210.5 595.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 210.5 595.8 m 260.5 595.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260.5 595.8 m 310.5 595.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310.5 595.8 m 360.5 595.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360.5 595.8 m 411.5 595.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 411.5 595.8 m 457.5 595.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 457.5 595.8 m 500.5 595.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 595.8 m 556.5 595.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 411.5 452.8 m 457.5 452.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 452.8 m 210.5 452.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 210.5 452.8 m 260.5 452.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260.5 452.8 m 310.5 452.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310.5 452.8 m 360.5 452.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360.5 452.8 m 411.5 452.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360.5 437.8 m 411.5 437.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 411.5 452.8 m 457.5 452.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 457.5 452.8 m 500.5 452.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 452.8 m 556.5 452.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 437.8 m 210.5 437.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 414.8 m 210.5 414.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 210.5 437.8 m 260.5 437.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 210.5 414.8 m 260.5 414.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260.5 437.8 m 310.5 437.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260.5 414.8 m 310.5 414.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310.5 437.8 m 360.5 437.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310.5 414.8 m 360.5 414.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360.5 437.8 m 411.5 437.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360.5 414.8 m 411.5 414.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 411.5 437.8 m 457.5 437.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 411.5 414.8 m 457.5 414.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 457.5 437.8 m 500.5 437.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 457.5 414.8 m 500.5 414.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 437.8 m 556.5 437.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 414.8 m 556.5 414.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 399.8 m 210.5 399.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 399.8 m 260.5 399.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 399.8 m 310.5 399.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 399.8 m 360.5 399.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 399.8 m 411.5 399.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 399.8 m 457.5 399.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 399.8 m 500.5 399.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 399.8 m 556.5 399.8 l s BT /F3 7.50 Tf ET q 0 0 0 rg BT 430.00 640.67 Td (Br) Tj ET Q q 0 0 0 rg BT 436.60 640.67 Td (eak) Tj ET Q q 0 0 0 rg BT 447.13 640.67 Td (do) Tj ET Q q 0 0 0 rg BT 454.99 640.67 Td (wn of Mortg) Tj ET Q q 0 0 0 rg BT 492.81 640.67 Td (ag) Tj ET Q q 0 0 0 rg BT 499.88 640.67 Td (e Ma) Tj ET Q q 0 0 0 rg BT 515.24 640.67 Td (turities) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 429.45 633.17 Td (b) Tj ET Q q 0 0 0 rg BT 433.35 633.17 Td (y T) Tj ET Q q 0 0 0 rg BT 441.76 633.17 Td (ype of Lender \(as a per) Tj ET Q q 0 0 0 rg BT 511.23 633.17 Td (cen) Tj ET Q q 0 0 0 rg BT 522.01 633.17 Td (t) Tj ET Q q 0 0 0 rg BT 524.43 633.17 Td (ag) Tj ET Q q 0 0 0 rg BT 531.49 633.17 Td (e\)) Tj ET Q BT /F4 7.50 Tf ET q 0 0 0 rg BT 57.00 598.17 Td (\(thousands of dollars, e) Tj ET Q q 0 0 0 rg BT 127.77 598.17 Td (x) Tj ET Q q 0 0 0 rg BT 130.85 598.17 Td (c) Tj ET Q q 0 0 0 rg BT 133.92 598.17 Td (ep) Tj ET Q q 0 0 0 rg BT 141.33 598.17 Td (t f) Tj ET Q q 0 0 0 rg BT 147.73 598.17 Td (or perc) Tj ET Q q 0 0 0 rg BT 168.93 598.17 Td (en) Tj ET Q q 0 0 0 rg BT 176.30 598.17 Td (t) Tj ET Q q 0 0 0 rg BT 178.71 598.17 Td (ages\)) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 225.40 605.67 Td (Scheduled) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 217.35 598.17 Td (Amortiz) Tj ET Q q 0 0 0 rg BT 241.32 598.17 Td (a) Tj ET Q q 0 0 0 rg BT 244.85 598.17 Td (tion) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 267.80 607.67 Td (P) Tj ET Q q 0 0 0 rg BT 271.51 607.67 Td (a) Tj ET Q q 0 0 0 rg BT 274.97 607.67 Td (ymen) Tj ET Q q 0 0 0 rg BT 291.96 607.67 Td (ts on ) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 280.35 600.17 Td (Ma) Tj ET Q q 0 0 0 rg BT 290.29 600.17 Td (turity) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 342.30 598.17 Td (T) Tj ET Q q 0 0 0 rg BT 345.29 598.17 Td (ot) Tj ET Q q 0 0 0 rg BT 351.66 598.17 Td (al) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 378.60 620.67 Td (Weighted) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 383.45 613.17 Td (Average) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 382.05 605.67 Td (Effective) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 369.00 598.17 Td (Interest Rate) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 436.10 600.17 Td (Bank) Tj ET Q q 0 0 0 rg BT 451.05 600.17 Td (s) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 470.05 600.17 Td (Conduits) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 509.40 615.17 Td (Insurance Cos) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 541.50 607.67 Td (and) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 509.15 600.17 Td (Pension Funds) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 586.55 Td (2015 \(remainder of the year\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 213.00 586.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 232.15 586.55 Td (21,778) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 263.00 586.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 277.60 586.55 Td (142,658) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 313.00 586.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 327.60 586.55 Td (164,436) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 586.55 Td (5.22) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.55 586.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.55 586.55 Td (10.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 450.55 586.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 477.55 586.55 Td (40.2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 493.55 586.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.55 586.55 Td (48.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.55 586.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 573.55 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 232.15 573.55 Td (24,523) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 277.60 573.55 Td (165,318) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 327.60 573.55 Td (189,841) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 573.55 Td (3.84) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.55 573.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.55 573.55 Td (35.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 450.55 573.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.15 573.55 Td (4.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 493.55 573.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.55 573.55 Td (59.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.55 573.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 560.55 Td (2017) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 232.15 560.55 Td (21,686) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 282.15 560.55 Td (82,902) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 327.60 560.55 Td (104,588) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 560.55 Td (4.02) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.55 560.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 439.15 560.55 Td (7.6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 450.55 560.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 477.55 560.55 Td (39.1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 493.55 560.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.55 560.55 Td (53.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.55 560.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 547.55 Td (2018) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 232.15 547.55 Td (17,696) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 277.60 547.55 Td (123,045) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 327.60 547.55 Td (140,741) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 547.55 Td (5.69) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.55 547.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 439.15 547.55 Td (4.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 450.55 547.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.15 547.55 Td (0.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 493.55 547.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.55 547.55 Td (94.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.55 547.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 534.55 Td (2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 232.15 534.55 Td (14,814) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 277.60 534.55 Td (106,714) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 327.60 534.55 Td (121,528) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 534.55 Td (6.32) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.55 534.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.55 534.55 Td (33.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 450.55 534.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.15 534.55 Td (0.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 493.55 534.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.55 534.55 Td (65.8) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.55 534.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 521.55 Td (2020) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 232.15 521.55 Td (12,983) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 282.15 521.55 Td (45,858) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 332.15 521.55 Td (58,841) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 521.55 Td (5.16) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.55 521.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.55 521.55 Td (10.6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 450.55 521.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.15 521.55 Td (0.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 493.55 521.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.55 521.55 Td (88.5) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.55 521.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 508.55 Td (2021) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 232.15 508.55 Td (11,021) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 282.15 508.55 Td (73,397) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 332.15 508.55 Td (84,418) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 508.55 Td (4.53) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.55 508.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.55 508.55 Td (70.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 450.55 508.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.15 508.55 Td (0.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 493.55 508.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.55 508.55 Td (28.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.55 508.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 495.55 Td (2022) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 236.75 495.55 Td (5,691) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 277.60 495.55 Td (150,652) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 327.60 495.55 Td (156,343) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 495.55 Td (3.87) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.55 495.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.55 495.55 Td (35.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 450.55 495.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.15 495.55 Td (8.6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 493.55 495.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.55 495.55 Td (56.1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.55 495.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 482.55 Td (2023) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 236.75 482.55 Td (3,523) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 299.10 482.55 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 336.75 482.55 Td (3,523) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 396.40 482.55 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.55 482.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.55 482.55 Td (47.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 450.55 482.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.40 482.55 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 493.55 482.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.55 482.55 Td (52.6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.55 482.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 469.55 Td (2024) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 236.75 469.55 Td (2,707) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 282.15 469.55 Td (59,574) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 332.15 469.55 Td (62,281) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 469.55 Td (3.98) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.55 469.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.55 469.55 Td (64.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 450.55 469.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.40 469.55 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 493.55 469.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.55 469.55 Td (35.6) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.55 469.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 456.55 Td (2025 and thereafter) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 243.50 456.55 Td (905) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 299.10 456.55 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 343.55 456.55 Td (905) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 456.55 Td (5.75) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.55 456.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 442.40 456.55 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 450.55 456.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.40 456.55 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 493.55 456.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.00 456.55 Td (100.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.55 456.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 213.00 442.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 227.60 442.55 Td (137,327) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 263.00 442.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 277.60 442.55 Td (950,118) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 313.00 442.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 320.80 442.55 Td (1,087,445) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.55 442.55 Td (4.72) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.55 442.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.55 442.55 Td (28.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 450.55 442.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 477.55 442.55 Td (12.1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 493.55 442.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.55 442.55 Td (59.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.55 442.55 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 428.55 Td (Add: unamortized deferred financing) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 419.55 Td (costs, net) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 336.75 419.55 Td (6,363) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 404.55 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 313.00 404.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 320.80 404.55 Td (1,093,808) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 382.30 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 382.30 Td (y) Tj ET Q q 0 0 0 rg BT 109.90 382.30 Td () Tj ET Q q 0 0 0 rg BT 111.78 382.30 Td (s s) Tj ET Q q 0 0 0 rg BT 121.75 382.30 Td (tr) Tj ET Q q 0 0 0 rg BT 128.38 382.30 Td (a) Tj ET Q q 0 0 0 rg BT 133.08 382.30 Td (t) Tj ET Q q 0 0 0 rg BT 136.32 382.30 Td (egy is t) Tj ET Q q 0 0 0 rg BT 164.51 382.30 Td (o manag) Tj ET Q q 0 0 0 rg BT 199.49 382.30 Td (e its long-t) Tj ET Q q 0 0 0 rg BT 242.38 382.30 Td (erm deb) Tj ET Q q 0 0 0 rg BT 276.53 382.30 Td (t b) Tj ET Q q 0 0 0 rg BT 287.34 382.30 Td (y s) Tj ET Q q 0 0 0 rg BT 297.93 382.30 Td (t) Tj ET Q q 0 0 0 rg BT 301.16 382.30 Td (ag) Tj ET Q q 0 0 0 rg BT 310.75 382.30 Td (g) Tj ET Q q 0 0 0 rg BT 315.37 382.30 Td (ering ma) Tj ET Q q 0 0 0 rg BT 351.04 382.30 Td (turity da) Tj ET Q q 0 0 0 rg BT 385.51 382.30 Td (t) Tj ET Q q 0 0 0 rg BT 388.75 382.30 Td (es in or) Tj ET Q q 0 0 0 rg BT 418.33 382.30 Td (der t) Tj ET Q q 0 0 0 rg BT 437.56 382.30 Td (o mitig) Tj ET Q q 0 0 0 rg BT 465.54 382.30 Td (a) Tj ET Q q 0 0 0 rg BT 470.24 382.30 Td (t) Tj ET Q q 0 0 0 rg BT 473.48 382.30 Td (e risk associa) Tj ET Q q 0 0 0 rg BT 526.32 382.30 Td (t) Tj ET Q q 0 0 0 rg BT 529.57 382.30 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 370.30 Td (with short) Tj ET Q q 0 0 0 rg BT 95.27 370.30 Td (-t) Tj ET Q q 0 0 0 rg BT 101.58 370.30 Td (erm v) Tj ET Q q 0 0 0 rg BT 124.71 370.30 Td (ola) Tj ET Q q 0 0 0 rg BT 136.98 370.30 Td (tility in the deb) Tj ET Q q 0 0 0 rg BT 198.44 370.30 Td (t mark) Tj ET Q q 0 0 0 rg BT 224.54 370.30 Td (e) Tj ET Q q 0 0 0 rg BT 229.46 370.30 Td (ts. As a) Tj ET Q q 0 0 0 rg BT 258.16 370.30 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 263.77 370.30 Td (Mar) Tj ET Q q 0 0 0 rg BT 280.45 370.30 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 327.36 370.30 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 381.66 370.30 Td (y had mortg) Tj ET Q q 0 0 0 rg BT 430.63 370.30 Td (ag) Tj ET Q q 0 0 0 rg BT 440.04 370.30 Td (es ma) Tj ET Q q 0 0 0 rg BT 463.87 370.30 Td (turing in 2015 of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 358.30 Td ($142.7 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 111.82 358.30 Td (, a) Tj ET Q q 0 0 0 rg BT 121.28 358.30 Td (t an a) Tj ET Q q 0 0 0 rg BT 143.81 358.30 Td (v) Tj ET Q q 0 0 0 rg BT 148.23 358.30 Td (er) Tj ET Q q 0 0 0 rg BT 156.49 358.30 Td (ag) Tj ET Q q 0 0 0 rg BT 165.90 358.30 Td (e e) Tj ET Q q 0 0 0 rg BT 178.03 358.30 Td (f) Tj ET Q q 0 0 0 rg BT 180.98 358.30 Td (f) Tj ET Q q 0 0 0 rg BT 183.79 358.30 Td (ectiv) Tj ET Q q 0 0 0 rg BT 203.05 358.30 Td (e in) Tj ET Q q 0 0 0 rg BT 217.75 358.30 Td (t) Tj ET Q q 0 0 0 rg BT 220.99 358.30 Td (er) Tj ET Q q 0 0 0 rg BT 229.32 358.30 Td (es) Tj ET Q q 0 0 0 rg BT 238.09 358.30 Td (t r) Tj ET Q q 0 0 0 rg BT 246.98 358.30 Td (a) Tj ET Q q 0 0 0 rg BT 251.68 358.30 Td (t) Tj ET Q q 0 0 0 rg BT 254.92 358.30 Td (e of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 272.75 358.30 Td (5.22%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 297.62 358.30 Td ( per annum and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 364.22 358.30 Td ($21.8 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 416.97 358.30 Td ( of scheduled amortiz) Tj ET Q q 0 0 0 rg BT 504.45 358.30 Td (a) Tj ET Q q 0 0 0 rg BT 509.15 358.30 Td (tion of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 346.30 Td (principal balances in 2015. The Compan) Tj ET Q q 0 0 0 rg BT 215.11 346.30 Td (y) Tj ET Q q 0 0 0 rg BT 219.94 346.30 Td () Tj ET Q q 0 0 0 rg BT 221.82 346.30 Td (s liquidity position, which w) Tj ET Q q 0 0 0 rg BT 334.21 346.30 Td (as appr) Tj ET Q q 0 0 0 rg BT 363.79 346.30 Td (o) Tj ET Q q 0 0 0 rg BT 368.87 346.30 Td (xima) Tj ET Q q 0 0 0 rg BT 388.18 346.30 Td (t) Tj ET Q q 0 0 0 rg BT 391.43 346.30 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 405.48 346.30 Td ($0.9 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 450.44 346.30 Td ( as a) Tj ET Q q 0 0 0 rg BT 468.36 346.30 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 473.97 346.30 Td (Mar) Tj ET Q q 0 0 0 rg BT 490.65 346.30 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 537.55 346.30 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 334.30 Td (including ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 93.10 334.30 Td ($23.7 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 145.85 334.30 Td ( in c) Tj ET Q q 0 0 0 rg BT 162.07 334.30 Td (ash, pr) Tj ET Q q 0 0 0 rg BT 189.36 334.30 Td (o) Tj ET Q q 0 0 0 rg BT 194.59 334.30 Td (vides the Compan) Tj ET Q q 0 0 0 rg BT 267.34 334.30 Td (y with signific) Tj ET Q q 0 0 0 rg BT 322.39 334.30 Td (an) Tj ET Q q 0 0 0 rg BT 332.34 334.30 Td (t fle) Tj ET Q q 0 0 0 rg BT 348.13 334.30 Td (xibility in addr) Tj ET Q q 0 0 0 rg BT 405.49 334.30 Td (essing 2015 ma) Tj ET Q q 0 0 0 rg BT 468.02 334.30 Td (turities. ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 308.20 Td (Credit F) Tj ET Q q 0 0 0 rg BT 88.70 308.20 Td (acilities) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 293.20 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 293.20 Td (y has the fle) Tj ET Q q 0 0 0 rg BT 154.08 293.20 Td (xibility under its cr) Tj ET Q q 0 0 0 rg BT 228.87 293.20 Td (edit f) Tj ET Q q 0 0 0 rg BT 249.86 293.20 Td (acilities t) Tj ET Q q 0 0 0 rg BT 285.81 293.20 Td (o dr) Tj ET Q q 0 0 0 rg BT 301.88 293.20 Td (a) Tj ET Q q 0 0 0 rg BT 306.60 293.20 Td (w funds based on bank prime r) Tj ET Q q 0 0 0 rg BT 431.87 293.20 Td (a) Tj ET Q q 0 0 0 rg BT 436.57 293.20 Td (t) Tj ET Q q 0 0 0 rg BT 439.81 293.20 Td (es, Canadian bank) Tj ET Q q 0 0 0 rg BT 512.99 293.20 Td (er) Tj ET Q q 0 0 0 rg BT 521.29 293.20 Td (s ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 281.20 Td (accep) Tj ET Q q 0 0 0 rg BT 77.43 281.20 Td (t) Tj ET Q q 0 0 0 rg BT 80.66 281.20 Td (ances \(B) Tj ET Q q 0 0 0 rg BT 118.64 281.20 Td (A) Tj ET Q q 0 0 0 rg BT 124.04 281.20 Td (\), LIBOR-based adv) Tj ET Q q 0 0 0 rg BT 204.15 281.20 Td (ances or U) Tj ET Q q 0 0 0 rg BT 246.83 281.20 Td (.S. prime f) Tj ET Q q 0 0 0 rg BT 287.84 281.20 Td (or U) Tj ET Q q 0 0 0 rg BT 305.10 281.20 Td (.S. dollar) Tj ET Q q 0 0 0 rg BT 340.10 281.20 Td (-denomina) Tj ET Q q 0 0 0 rg BT 384.16 281.20 Td (t) Tj ET Q q 0 0 0 rg BT 387.40 281.20 Td (ed borr) Tj ET Q q 0 0 0 rg BT 417.23 281.20 Td (o) Tj ET Q q 0 0 0 rg BT 422.46 281.20 Td (wings. The B) Tj ET Q q 0 0 0 rg BT 473.27 281.20 Td (As curr) Tj ET Q q 0 0 0 rg BT 501.55 281.20 Td (en) Tj ET Q q 0 0 0 rg BT 511.69 281.20 Td (tly ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 269.20 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 269.20 Td (o) Tj ET Q q 0 0 0 rg BT 67.81 269.20 Td (vide the Compan) Tj ET Q q 0 0 0 rg BT 136.66 269.20 Td (y with the lo) Tj ET Q q 0 0 0 rg BT 187.12 269.20 Td (w) Tj ET Q q 0 0 0 rg BT 194.18 269.20 Td (es) Tj ET Q q 0 0 0 rg BT 202.96 269.20 Td (t c) Tj ET Q q 0 0 0 rg BT 212.71 269.20 Td (os) Tj ET Q q 0 0 0 rg BT 221.78 269.20 Td (t means of borr) Tj ET Q q 0 0 0 rg BT 284.50 269.20 Td (o) Tj ET Q q 0 0 0 rg BT 289.73 269.20 Td (wing under these cr) Tj ET Q q 0 0 0 rg BT 370.19 269.20 Td (edit f) Tj ET Q q 0 0 0 rg BT 391.18 269.20 Td (acilities. The cr) Tj ET Q q 0 0 0 rg BT 451.35 269.20 Td (edit f) Tj ET Q q 0 0 0 rg BT 472.34 269.20 Td (acilities pr) Tj ET Q q 0 0 0 rg BT 513.61 269.20 Td (o) Tj ET Q q 0 0 0 rg BT 518.84 269.20 Td (vide ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 257.20 Td (liquidity primarily f) Tj ET Q q 0 0 0 rg BT 130.60 257.20 Td (or financing acquisitions, de) Tj ET Q q 0 0 0 rg BT 244.05 257.20 Td (v) Tj ET Q q 0 0 0 rg BT 248.47 257.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 284.40 257.20 Td (t and r) Tj ET Q q 0 0 0 rg BT 310.92 257.20 Td (ede) Tj ET Q q 0 0 0 rg BT 326.08 257.20 Td (v) Tj ET Q q 0 0 0 rg BT 330.49 257.20 Td (elopmen) Tj ET Q q 0 0 0 rg BT 366.42 257.20 Td (t activities and f) Tj ET Q q 0 0 0 rg BT 430.69 257.20 Td (or g) Tj ET Q q 0 0 0 rg BT 446.34 257.20 Td (ener) Tj ET Q q 0 0 0 rg BT 464.83 257.20 Td (al c) Tj ET Q q 0 0 0 rg BT 478.32 257.20 Td (orpor) Tj ET Q q 0 0 0 rg BT 500.88 257.20 Td (a) Tj ET Q q 0 0 0 rg BT 505.58 257.20 Td (t) Tj ET Q q 0 0 0 rg BT 508.82 257.20 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 245.20 Td (purposes.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 227.20 Td (The f) Tj ET Q q 0 0 0 rg BT 74.21 227.20 Td (ollo) Tj ET Q q 0 0 0 rg BT 89.30 227.20 Td (wing t) Tj ET Q q 0 0 0 rg BT 114.20 227.20 Td (able summariz) Tj ET Q q 0 0 0 rg BT 173.21 227.20 Td (es the de) Tj ET Q q 0 0 0 rg BT 210.37 227.20 Td (t) Tj ET Q q 0 0 0 rg BT 213.60 227.20 Td (ails of the Compan) Tj ET Q q 0 0 0 rg BT 289.28 227.20 Td (y) Tj ET Q q 0 0 0 rg BT 294.11 227.20 Td () Tj ET Q q 0 0 0 rg BT 296.00 227.20 Td (s lines of cr) Tj ET Q q 0 0 0 rg BT 341.33 227.20 Td (edit as a) Tj ET Q q 0 0 0 rg BT 375.12 227.20 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 380.73 227.20 Td (Mar) Tj ET Q q 0 0 0 rg BT 397.41 227.20 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 444.32 227.20 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 216.70000000000005 m 206.5 216.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 185.70000000000005 m 206.5 185.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 216.70000000000005 m 251.5 216.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 206.5 185.70000000000005 m 251.5 185.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 251.5 216.70000000000005 m 296.5 216.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 251.5 185.70000000000005 m 296.5 185.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 216.70000000000005 m 341.5 216.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296.5 185.70000000000005 m 341.5 185.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341.5 216.70000000000005 m 390.5 216.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341.5 185.70000000000005 m 390.5 185.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 216.70000000000005 m 476.5 216.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 185.70000000000005 m 476.5 185.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 216.70000000000005 m 551.5 216.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 476.5 185.70000000000005 m 551.5 185.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 104.70000000000005 m 206.5 104.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 206.5 104.70000000000005 m 251.5 104.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 251.5 104.70000000000005 m 296.5 104.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296.5 104.70000000000005 m 341.5 104.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341.5 104.70000000000005 m 390.5 104.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 104.70000000000005 m 476.5 104.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 476.5 104.70000000000005 m 551.5 104.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 90.70000000000005 m 206.5 90.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 90.70000000000005 m 251.5 90.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 251.5 90.70000000000005 m 296.5 90.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 90.70000000000005 m 341.5 90.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341.5 90.70000000000005 m 390.5 90.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 90.70000000000005 m 476.5 90.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 90.70000000000005 m 551.5 90.70000000000005 l s BT /F4 7.50 Tf ET q 0 0 0 rg BT 57.00 190.08 Td (\(thousands of dollars, except other data\)) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 216.35 197.58 Td (Borr) Tj ET Q q 0 0 0 rg BT 229.49 197.58 Td (o) Tj ET Q q 0 0 0 rg BT 233.42 197.58 Td (wing ) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 222.05 190.08 Td (Capacity) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 265.45 197.58 Td (Amoun) Tj ET Q q 0 0 0 rg BT 287.55 197.58 Td (ts ) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 273.05 190.08 Td (Dr) Tj ET Q q 0 0 0 rg BT 280.13 190.08 Td (a) Tj ET Q q 0 0 0 rg BT 283.67 190.08 Td (wn) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 300.60 205.08 Td (Outs) Tj ET Q q 0 0 0 rg BT 314.87 205.08 Td (t) Tj ET Q q 0 0 0 rg BT 317.29 205.08 Td (anding) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 309.20 197.58 Td (Le) Tj ET Q q 0 0 0 rg BT 316.04 197.58 Td (t) Tj ET Q q 0 0 0 rg BT 318.45 197.58 Td (t) Tj ET Q q 0 0 0 rg BT 320.88 197.58 Td (er) Tj ET Q q 0 0 0 rg BT 327.10 197.58 Td (s of ) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 319.55 190.08 Td (Cr) Tj ET Q q 0 0 0 rg BT 326.07 190.08 Td (edit ) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 351.40 197.58 Td (A) Tj ET Q q 0 0 0 rg BT 355.60 197.58 Td (v) Tj ET Q q 0 0 0 rg BT 358.88 197.58 Td (ailable t) Tj ET Q q 0 0 0 rg BT 383.03 197.58 Td (o ) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 357.70 190.08 Td (be Dr) Tj ET Q q 0 0 0 rg BT 374.14 190.08 Td (a) Tj ET Q q 0 0 0 rg BT 377.68 190.08 Td (wn) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 449.45 197.58 Td (In) Tj ET Q q 0 0 0 rg BT 455.21 197.58 Td (t) Tj ET Q q 0 0 0 rg BT 457.64 197.58 Td (er) Tj ET Q q 0 0 0 rg BT 463.89 197.58 Td (es) Tj ET Q q 0 0 0 rg BT 470.47 197.58 Td (t) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 456.30 190.08 Td (Ra) Tj ET Q q 0 0 0 rg BT 463.90 190.08 Td (t) Tj ET Q q 0 0 0 rg BT 466.33 190.08 Td (es) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 521.35 197.58 Td (Ma) Tj ET Q q 0 0 0 rg BT 531.29 197.58 Td (turity) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 533.65 190.08 Td (Da) Tj ET Q q 0 0 0 rg BT 541.79 190.08 Td (t) Tj ET Q q 0 0 0 rg BT 544.22 190.08 Td (e) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 57.00 176.83 Td (Secured by development properties) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 209.00 176.83 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 224.50 176.83 Td (75,000) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 254.00 176.83 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 285.55 176.83 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 299.00 176.83 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 327.05 176.83 Td (\(23) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 338.25 176.83 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 344.00 176.83 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 363.55 176.83 Td (74,977) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 420.60 176.83 Td (BA + 1.125% or) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 419.10 168.33 Td (Prime + 0.125%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 480.45 176.83 Td (December 31, 2015) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 57.00 155.83 Td (Unsecured) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 220.25 155.83 Td (800,000) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 285.55 155.83 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 312.00 155.83 Td (\(41,980) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 338.25 155.83 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 359.25 155.83 Td (758,020) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 424.90 155.83 Td (BA + 1.20% or) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 414.05 147.33 Td (Prime + 0.20% or) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 436.80 138.83 Td (US$ LIBOR) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 445.65 130.33 Td (+ 1.20%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 500.30 155.83 Td (June 30, 2017) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 118.45 Td (Secured facility) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 227.75 118.45 Td (7,953) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 270.00 118.45 Td (\(7,785) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 293.25 118.45 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 327.05 118.83 Td (\(75) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 338.25 118.83 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 378.60 118.83 Td (93) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.55 118.45 Td (BA + 1.125% or) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 415.95 109.45 Td (Prime + 0.125%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 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0 rg BT 378.90 599.63 Td (5.17%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 443.10 599.63 Td (3.7) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 513.30 599.63 Td (100,000) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 71.70 586.63 Td (L) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 96.00 586.63 Td (July 30, 2019) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 210.00 586.63 Td (January 30, July 30) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 323.90 586.63 Td (5.48%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 378.90 586.63 Td (5.61%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 443.10 586.63 Td (4.3) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 513.30 586.63 Td (150,000) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 69.85 573.63 Td (M) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 96.00 573.63 Td (April 30, 2020) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 210.00 573.63 Td (April 30, October 30) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 323.90 573.63 Td (5.60%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 378.90 573.63 Td (5.60%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 443.10 573.63 Td (5.1) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 513.30 573.63 Td (175,000) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 70.75 560.63 Td (N) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 96.00 560.63 Td (March 1, 2021) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 210.00 560.63 Td (March 1, September 1) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 323.90 560.63 Td (4.50%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 378.90 560.63 Td (4.63%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 443.10 560.63 Td (5.9) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 513.30 560.63 Td (175,000) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 70.65 547.63 Td (O) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 96.00 547.63 Td (January 31, 2022) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 210.00 547.63 Td (January 31, July 31) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 323.90 547.63 Td (4.43%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 378.90 547.63 Td (4.59%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 443.10 547.63 Td (6.8) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 513.30 547.63 Td (200,000) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 71.30 534.63 Td (P) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 96.00 534.63 Td (December 5, 2022) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 210.00 534.63 Td (June 5, December 5) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 323.90 534.63 Td (3.95%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 378.90 534.63 Td (4.18%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 443.10 534.63 Td (7.7) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 513.30 534.63 Td (250,000) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 70.60 521.63 Td (Q) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 96.00 521.63 Td (October 30, 2023) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 210.00 521.63 Td (April 30, October 30) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 323.90 521.63 Td (3.90%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 378.90 521.63 Td (3.97%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 443.10 521.63 Td (8.6) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 513.30 521.63 Td (300,000) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 71.15 508.63 Td (R) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 96.00 508.63 Td (August 30, 2024) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 210.00 508.63 Td (August 30, February 28) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 323.90 508.63 Td (4.79%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 378.90 508.63 Td (4.72%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 443.10 508.63 Td (9.4) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 513.30 508.63 Td (300,000) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 71.50 495.63 Td (S) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 96.00 495.63 Td (July 31, 2025) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 210.00 495.63 Td (July 31, January 31) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 323.90 495.63 Td (4.32%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 378.90 495.63 Td (4.24%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 440.95 495.63 Td (10.3) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 513.30 495.63 Td (300,000) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 96.00 481.13 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(Series) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 85.00 339.35 Td (Maturity Date) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 155.00 346.35 Td (Interest Payment) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 155.00 339.35 Td (Dates) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 231.40 339.35 Td (Coupon) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 275.90 339.35 Td (Effective) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 320.00 353.35 Td (Remaining) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 328.10 346.35 Td (Term to) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 311.05 339.35 Td (Maturity \(yrs\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 368.20 346.35 Td (Principal a) Tj ET Q q 0 0 0 rg BT 397.62 346.35 Td (t ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 370.65 339.35 Td (Issue Da) Tj ET Q q 0 0 0 rg BT 394.23 339.35 Td (t) Tj ET Q q 0 0 0 rg BT 396.50 339.35 Td (e) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 424.70 339.35 Td (Principal) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 477.20 339.35 Td (Liability) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 531.70 339.35 Td (Equity) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 65.50 325.60 Td (D) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 325.60 Td (June 30, 2017) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 155.00 325.60 Td (March 31) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 155.00 317.60 Td (September 30) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 232.50 325.60 Td (5.70%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 278.00 325.60 Td (6.88%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 324.40 326.60 Td (2.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 356.00 326.60 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 378.25 326.60 Td (50,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 406.00 326.60 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.15 326.60 Td (42,903) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 456.00 326.60 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.15 326.60 Td (41,860) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 506.00 326.60 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 538.30 326.60 Td (983) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.00 303.60 Td (E) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 303.60 Td (January 31, 2019) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 155.00 303.60 Td (March 31) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 155.00 295.60 Td (September 30) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 232.50 303.60 Td (5.40%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 278.00 303.60 Td (6.90%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 324.40 304.60 Td (3.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 378.25 304.60 Td (57,500) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.15 304.60 Td (56,458) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.15 304.60 Td (53,636) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.20 304.60 Td (2,152) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.15 281.60 Td (F) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 281.60 Td (January 31, 2019) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 155.00 281.60 Td (March 31) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 155.00 273.60 Td (September 30) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 232.50 281.60 Td (5.25%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 278.00 281.60 Td (6.07%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 324.40 282.60 Td (3.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 378.25 282.60 Td (57,500) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.15 282.60 Td (56,481) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.15 282.60 Td (54,926) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 538.30 282.60 Td (384) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 65.45 259.60 Td (G) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 259.60 Td (March 31, 2018) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 155.00 259.60 Td (March 31) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 155.00 251.60 Td (September 30) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 232.50 259.60 Td (5.25%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 278.00 259.60 Td (6.66%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 324.40 260.60 Td (3.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 378.25 260.60 Td (50,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.15 260.60 Td (49,813) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.15 260.60 Td (47,929) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.20 260.60 Td (1,151) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 65.50 237.60 Td (H) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 237.60 Td (March 31, 2017) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 155.00 237.60 Td (March 31) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 155.00 229.60 Td (September 30) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 232.50 237.60 Td (4.95%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 278.00 237.60 Td (6.51%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 324.40 238.60 Td (2.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 378.25 238.60 Td (75,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.15 238.60 Td (72,321) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.15 238.60 Td (70,233) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.20 238.60 Td (1,442) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.95 215.60 Td (I) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 215.60 Td (July 31, 2019) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 155.00 215.60 Td (March 31) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 155.00 207.60 Td (September 30) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 232.50 215.60 Td (4.75%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 278.00 215.60 Td (6.19%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 324.40 216.60 Td (4.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 378.25 216.60 Td (52,500) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.15 216.60 Td (52,220) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.15 216.60 Td (49,718) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.20 216.60 Td (1,431) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.70 193.60 Td (J) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 193.60 Td (February 28, 2020) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 155.00 193.60 Td (March 31) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 155.00 185.60 Td (September 30) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 232.50 193.60 Td (4.45%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 278.00 193.60 Td (5.34%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 324.40 194.60 Td (4.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 378.25 194.60 Td (57,500) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.15 194.60 Td (56,669) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.15 194.60 Td (54,681) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 538.30 194.60 Td (397) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 171.60 Td (Weighted Average/Total) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 232.50 171.60 Td (5.08%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 278.00 171.60 Td (6.35%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 324.40 172.60 Td (3.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 356.00 172.60 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 374.20 172.60 Td (400,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 406.00 172.60 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 424.10 172.60 Td (386,865) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 456.00 172.60 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.10 172.60 Td (372,983) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 506.00 172.60 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.20 172.60 Td (7,940) Tj ET Q BT /F1 10.00 Tf ET BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 148.40 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 72.00 148.40 Td (Principal and In) Tj ET Q q 0 0 0 rg BT 142.79 148.40 Td (t) Tj ET Q q 0 0 0 rg BT 146.51 148.40 Td (eres) Tj ET Q q 0 0 0 rg BT 165.39 148.40 Td (t) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 133.40 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 133.40 Td (y uses c) Tj ET Q q 0 0 0 rg BT 136.31 133.40 Td (on) Tj ET Q q 0 0 0 rg BT 146.68 133.40 Td (v) Tj ET Q q 0 0 0 rg BT 151.09 133.40 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 205.61 133.40 Td (tur) Tj ET Q q 0 0 0 rg BT 217.56 133.40 Td (es as a part of its o) Tj ET Q q 0 0 0 rg BT 293.50 133.40 Td (v) Tj ET Q q 0 0 0 rg BT 297.92 133.40 Td (er) Tj ET Q q 0 0 0 rg BT 306.17 133.40 Td (all c) Tj ET Q q 0 0 0 rg BT 321.96 133.40 Td (apit) Tj ET Q q 0 0 0 rg BT 337.53 133.40 Td (al s) Tj ET Q q 0 0 0 rg BT 350.67 133.40 Td (tructur) Tj ET Q q 0 0 0 rg BT 378.95 133.40 Td (e. It is the Compan) Tj ET Q q 0 0 0 rg BT 454.85 133.40 Td (y) Tj ET Q q 0 0 0 rg BT 459.68 133.40 Td () Tj ET Q q 0 0 0 rg BT 461.56 133.40 Td (s curr) Tj ET Q q 0 0 0 rg BT 484.06 133.40 Td (en) Tj ET Q q 0 0 0 rg BT 494.20 133.40 Td (t in) Tj ET Q q 0 0 0 rg BT 507.26 133.40 Td (t) Tj ET Q q 0 0 0 rg BT 510.50 133.40 Td (en) Tj ET Q q 0 0 0 rg BT 520.64 133.40 Td (tion t) Tj ET Q q 0 0 0 rg BT 542.33 133.40 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 121.40 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 121.40 Td (on) Tj ET Q q 0 0 0 rg BT 68.58 121.40 Td (tinue t) Tj ET Q q 0 0 0 rg BT 95.22 121.40 Td (o sa) Tj ET Q q 0 0 0 rg BT 111.36 121.40 Td (tis) Tj ET Q q 0 0 0 rg BT 120.83 121.40 Td (f) Tj ET Q q 0 0 0 rg BT 123.93 121.40 Td (y its oblig) Tj ET Q q 0 0 0 rg BT 162.17 121.40 Td (a) Tj ET Q q 0 0 0 rg BT 166.87 121.40 Td (tions of principal and in) Tj ET Q q 0 0 0 rg BT 262.22 121.40 Td (t) Tj ET Q q 0 0 0 rg BT 265.46 121.40 Td (er) Tj ET Q q 0 0 0 rg BT 273.79 121.40 Td (es) Tj ET Q q 0 0 0 rg BT 282.57 121.40 Td (t pa) Tj ET Q q 0 0 0 rg BT 298.04 121.40 Td (ymen) Tj ET Q q 0 0 0 rg BT 320.69 121.40 Td (ts in r) Tj ET Q q 0 0 0 rg BT 343.38 121.40 Td (espect of all of its outs) Tj ET Q q 0 0 0 rg BT 434.63 121.40 Td (t) Tj ET Q q 0 0 0 rg BT 437.86 121.40 Td (anding c) Tj ET Q q 0 0 0 rg BT 471.82 121.40 Td (on) Tj ET Q q 0 0 0 rg BT 482.18 121.40 Td (v) Tj ET Q q 0 0 0 rg BT 486.60 121.40 Td (ertible ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 109.40 Td (deben) Tj ET Q q 0 0 0 rg BT 79.62 109.40 Td (tur) Tj ET Q q 0 0 0 rg BT 91.58 109.40 Td (es b) Tj ET Q q 0 0 0 rg BT 107.93 109.40 Td (y the issuance of c) Tj ET Q q 0 0 0 rg BT 182.17 109.40 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 233.52 109.40 Td (es. 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Tj ET Q endstream endobj 99 0 obj <> endobj 100 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (48) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 694.50 Td (During the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.25 694.50 Td (thr) Tj ET Q q 0 0 0 rg BT 111.21 694.50 Td (ee mon) Tj ET Q q 0 0 0 rg BT 141.84 694.50 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 201.27 694.50 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.18 694.50 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 252.94 694.50 Td (0.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 295.55 694.50 Td ( c) Tj ET Q q 0 0 0 rg BT 301.96 694.50 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 353.31 694.50 Td (es \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 367.49 694.50 Td (thr) Tj ET Q q 0 0 0 rg BT 379.44 694.50 Td (ee mon) Tj ET Q q 0 0 0 rg BT 410.08 694.50 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 469.51 694.50 Td (ch 31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 516.42 694.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 682.50 Td (0.6 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 96.62 682.50 Td ( c) Tj ET Q q 0 0 0 rg BT 103.02 682.50 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 154.37 682.50 Td (es\) w) Tj ET Q q 0 0 0 rg BT 175.61 682.50 Td (er) Tj ET Q q 0 0 0 rg BT 183.94 682.50 Td (e issued t) Tj ET Q q 0 0 0 rg BT 222.29 682.50 Td (ot) Tj ET Q q 0 0 0 rg BT 230.79 682.50 Td (aling ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 252.39 682.50 Td ($9.8 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.08 682.50 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 305.37 682.50 Td (thr) Tj ET Q q 0 0 0 rg BT 317.33 682.50 Td (ee mon) Tj ET Q q 0 0 0 rg BT 347.96 682.50 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 407.39 682.50 Td (ch 31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.30 682.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.80 682.50 Td ($10.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 516.56 682.50 Td (\) t) Tj ET Q q 0 0 0 rg BT 525.10 682.50 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 670.50 Td (pa) Tj ET Q q 0 0 0 rg BT 63.86 670.50 Td (y in) Tj ET Q q 0 0 0 rg BT 78.10 670.50 Td (t) Tj ET Q q 0 0 0 rg BT 81.34 670.50 Td (er) Tj ET Q q 0 0 0 rg BT 89.67 670.50 Td (es) Tj ET Q q 0 0 0 rg BT 98.45 670.50 Td (t t) Tj ET Q q 0 0 0 rg BT 107.31 670.50 Td (o holder) Tj ET Q q 0 0 0 rg BT 141.21 670.50 Td (s of c) Tj ET Q q 0 0 0 rg BT 162.12 670.50 Td (on) Tj ET Q q 0 0 0 rg BT 172.48 670.50 Td (v) Tj ET Q q 0 0 0 rg BT 176.90 670.50 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 231.41 670.50 Td (tur) Tj ET Q q 0 0 0 rg BT 243.37 670.50 Td (es.) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 651.30 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 72.00 651.30 Td (Normal Course Issuer Bid \(NCIB\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 636.30 Td (On Augus) Tj ET Q q 0 0 0 rg BT 92.94 636.30 Td (t 27, 2014, the Compan) Tj ET Q q 0 0 0 rg BT 188.01 636.30 Td (y r) Tj ET Q q 0 0 0 rg BT 198.16 636.30 Td (ene) Tj ET Q q 0 0 0 rg BT 213.31 636.30 Td (w) Tj ET Q q 0 0 0 rg BT 220.37 636.30 Td (ed its NCIB f) Tj ET Q q 0 0 0 rg BT 269.53 636.30 Td (or all of its then outs) Tj ET Q q 0 0 0 rg BT 353.36 636.30 Td (t) Tj ET Q q 0 0 0 rg BT 356.59 636.30 Td (anding series of c) Tj ET Q q 0 0 0 rg BT 426.95 636.30 Td (on) Tj ET Q q 0 0 0 rg BT 437.31 636.30 Td (v) Tj ET Q q 0 0 0 rg BT 441.73 636.30 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 496.24 636.30 Td (tur) Tj ET Q q 0 0 0 rg BT 508.20 636.30 Td (es. The ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 624.30 Td (NCIB will e) Tj ET Q q 0 0 0 rg BT 97.13 624.30 Td (xpir) Tj ET Q q 0 0 0 rg BT 112.36 624.30 Td (e on Augus) Tj ET Q q 0 0 0 rg BT 157.18 624.30 Td (t 26, 2015 or such earlier da) Tj ET Q q 0 0 0 rg BT 270.67 624.30 Td (t) Tj ET Q q 0 0 0 rg BT 273.91 624.30 Td (e as Fir) Tj ET Q q 0 0 0 rg BT 302.31 624.30 Td (s) Tj ET Q q 0 0 0 rg BT 306.11 624.30 Td (t Capit) Tj ET Q q 0 0 0 rg BT 332.62 624.30 Td (al R) Tj ET Q q 0 0 0 rg BT 347.22 624.30 Td (ealty c) Tj ET Q q 0 0 0 rg BT 373.56 624.30 Td (omple) Tj ET Q q 0 0 0 rg BT 399.29 624.30 Td (t) Tj ET Q q 0 0 0 rg BT 402.54 624.30 Td (es its pur) Tj ET Q q 0 0 0 rg BT 439.35 624.30 Td (chases pur) Tj ET Q q 0 0 0 rg BT 482.50 624.30 Td (suan) Tj ET Q q 0 0 0 rg BT 501.62 624.30 Td (t t) Tj ET Q q 0 0 0 rg BT 510.48 624.30 Td (o the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 612.30 Td (NCIB. All pur) Tj ET Q q 0 0 0 rg BT 105.02 612.30 Td (chases made under the NCIB ar) Tj ET Q q 0 0 0 rg BT 232.09 612.30 Td (e a) Tj ET Q q 0 0 0 rg BT 244.02 612.30 Td (t mark) Tj ET Q q 0 0 0 rg BT 270.12 612.30 Td (e) Tj ET Q q 0 0 0 rg BT 275.04 612.30 Td (t prices pr) Tj ET Q q 0 0 0 rg BT 315.67 612.30 Td (e) Tj ET Q q 0 0 0 rg BT 320.60 612.30 Td (v) Tj ET Q q 0 0 0 rg BT 324.97 612.30 Td (ailing a) Tj ET Q q 0 0 0 rg BT 353.57 612.30 Td (t the time of pur) Tj ET Q q 0 0 0 rg BT 420.32 612.30 Td (chase de) Tj ET Q q 0 0 0 rg BT 455.91 612.30 Td (t) Tj ET Q q 0 0 0 rg BT 459.16 612.30 Td (ermined b) Tj ET Q q 0 0 0 rg BT 500.85 612.30 Td (y or on ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 600.30 Td (behalf of Fir) Tj ET Q q 0 0 0 rg BT 102.67 600.30 Td (s) Tj ET Q q 0 0 0 rg BT 106.47 600.30 Td (t Capit) Tj ET Q q 0 0 0 rg BT 132.98 600.30 Td (al R) Tj ET Q q 0 0 0 rg BT 147.58 600.30 Td (ealty) Tj ET Q q 0 0 0 rg BT 166.86 600.30 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 582.30 Td (F) Tj ET Q q 0 0 0 rg BT 58.46 582.30 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.32 582.30 Td (thr) Tj ET Q q 0 0 0 rg BT 97.28 582.30 Td (ee mon) Tj ET Q q 0 0 0 rg BT 127.91 582.30 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 187.34 582.30 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 234.25 582.30 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 254.07 582.30 Td (2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 274.34 582.30 Td (, principal amoun) Tj ET Q q 0 0 0 rg BT 344.98 582.30 Td (ts of c) Tj ET Q q 0 0 0 rg BT 369.23 582.30 Td (on) Tj ET Q q 0 0 0 rg BT 379.59 582.30 Td (v) Tj ET Q q 0 0 0 rg BT 384.01 582.30 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 438.52 582.30 Td (tur) Tj ET Q q 0 0 0 rg BT 450.48 582.30 Td (es pur) Tj ET Q q 0 0 0 rg BT 475.47 582.30 Td (chased and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 570.30 Td (amoun) Tj ET Q q 0 0 0 rg BT 82.47 570.30 Td (ts paid f) Tj ET Q q 0 0 0 rg BT 114.68 570.30 Td (or the pur) Tj ET Q q 0 0 0 rg BT 155.39 570.30 Td (chases ar) Tj ET Q q 0 0 0 rg BT 192.87 570.30 Td (e r) Tj ET Q q 0 0 0 rg BT 203.46 570.30 Td (epr) Tj ET Q q 0 0 0 rg BT 217.04 570.30 Td (esen) Tj ET Q q 0 0 0 rg BT 236.07 570.30 Td (t) Tj ET Q q 0 0 0 rg BT 239.31 570.30 Td (ed in the t) Tj ET Q q 0 0 0 rg BT 280.67 570.30 Td (able belo) Tj ET Q q 0 0 0 rg BT 318.01 570.30 Td (w:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 559.8 m 272.5 559.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 559.8 m 327.5 559.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 272.5 547.8 m 327.5 547.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 559.8 m 346.5 559.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 327.5 547.8 m 346.5 547.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 559.8 m 401.5 559.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 559.8 m 421.5 559.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401.5 547.8 m 421.5 547.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421.5 559.8 m 476.5 559.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 559.8 m 496.5 559.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 476.5 547.8 m 496.5 547.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 559.8 m 550.5 559.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 547.8 m 272.5 547.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 535.8 m 272.5 535.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 272.5 547.8 m 327.5 547.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 272.5 535.8 m 327.5 535.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 327.5 547.8 m 346.5 547.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 327.5 535.8 m 346.5 535.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 346.5 547.8 m 401.5 547.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 346.5 535.8 m 401.5 535.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401.5 547.8 m 421.5 547.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401.5 535.8 m 421.5 535.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421.5 547.8 m 476.5 547.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421.5 535.8 m 476.5 535.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 476.5 547.8 m 496.5 547.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 476.5 535.8 m 496.5 535.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 547.8 m 550.5 547.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 535.8 m 550.5 535.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 272.5 535.8 m 327.5 535.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 272.5 507.8 m 327.5 507.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 327.5 535.8 m 346.5 535.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 327.5 507.8 m 346.5 507.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 346.5 535.8 m 401.5 535.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 346.5 507.8 m 401.5 507.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401.5 535.8 m 421.5 535.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401.5 507.8 m 421.5 507.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421.5 535.8 m 476.5 535.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421.5 507.8 m 476.5 507.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 476.5 535.8 m 496.5 535.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 476.5 507.8 m 496.5 507.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 535.8 m 550.5 535.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 507.8 m 550.5 507.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 507.8 m 272.5 507.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 492.8 m 272.5 492.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 272.5 507.8 m 327.5 507.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 492.8 m 327.5 492.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 327.5 507.8 m 346.5 507.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 492.8 m 346.5 492.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 346.5 507.8 m 401.5 507.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 492.8 m 401.5 492.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401.5 507.8 m 421.5 507.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 492.8 m 421.5 492.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421.5 507.8 m 476.5 507.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421.5 492.8 m 476.5 492.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 476.5 507.8 m 496.5 507.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 492.8 m 496.5 492.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 507.8 m 550.5 507.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 492.8 m 550.5 492.8 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.10 550.55 Td (Three months ended March 31) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 539.30 Td (\(thousands of dollars\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 380.75 538.92 Td (2015) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 529.75 538.92 Td (2014) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 291.35 526.92 Td ( Principal) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 295.35 518.42 Td (Amount) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 287.45 509.93 Td (Purchased) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 352.20 512.42 Td (Amount Paid) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 441.25 526.92 Td ( Principal) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 445.10 518.42 Td (Amount) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 437.15 509.93 Td (Purchased) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 502.45 512.42 Td (Amount Paid) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 497.55 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 275.00 497.55 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 303.55 497.55 Td (1,309) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 349.00 497.55 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 377.55 497.55 Td (1,326) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 424.00 497.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 464.10 497.55 Td (14) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 499.00 497.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.10 497.55 Td (15) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 469.95 Td (Shar) Tj ET Q q 0 0 0 rg BT 76.17 469.95 Td (eholder) Tj ET Q q 0 0 0 rg BT 114.64 469.95 Td (s E) Tj ET Q q 0 0 0 rg BT 130.92 469.95 Td (quity) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 454.90 Td (Shar) Tj ET Q q 0 0 0 rg BT 71.99 454.90 Td (eholder) Tj ET Q q 0 0 0 rg BT 103.34 454.90 Td (s equity amoun) Tj ET Q q 0 0 0 rg BT 168.38 454.90 Td (t) Tj ET Q q 0 0 0 rg BT 171.63 454.90 Td (ed t) Tj ET Q q 0 0 0 rg BT 187.37 454.90 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 194.90 454.90 Td ($3.6 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 239.85 454.90 Td ( as a) Tj ET Q q 0 0 0 rg BT 257.77 454.90 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 263.38 454.90 Td (Mar) Tj ET Q q 0 0 0 rg BT 280.06 454.90 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 326.97 454.90 Td (, c) Tj ET Q q 0 0 0 rg BT 335.88 454.90 Td (ompar) Tj ET Q q 0 0 0 rg BT 362.54 454.90 Td (ed t) Tj ET Q q 0 0 0 rg BT 378.28 454.90 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 385.81 454.90 Td ($3.5 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 430.76 454.90 Td ( as a) Tj ET Q q 0 0 0 rg BT 448.68 454.90 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.29 454.90 Td (December31, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 442.90 Td (2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.27 442.90 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 424.90 Td (As a) Tj ET Q q 0 0 0 rg BT 70.66 424.90 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 76.27 424.90 Td (Mar) Tj ET Q q 0 0 0 rg BT 92.95 424.90 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 139.85 424.90 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 194.16 424.90 Td (y had ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 218.50 424.90 Td (221.9 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 271.26 424.90 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 276.55 424.90 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 356.01 424.90 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 365.51 424.90 Td (216.4 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.27 424.90 Td (\) issued and outs) Tj ET Q q 0 0 0 rg BT 486.66 424.90 Td (t) Tj ET Q q 0 0 0 rg BT 489.88 424.90 Td (anding ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 412.90 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 412.90 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 109.49 412.90 Td (es with a s) Tj ET Q q 0 0 0 rg BT 151.80 412.90 Td (t) Tj ET Q q 0 0 0 rg BT 155.03 412.90 Td (a) Tj ET Q q 0 0 0 rg BT 159.72 412.90 Td (t) Tj ET Q q 0 0 0 rg BT 162.96 412.90 Td (ed c) Tj ET Q q 0 0 0 rg BT 179.60 412.90 Td (apit) Tj ET Q q 0 0 0 rg BT 195.17 412.90 Td (al of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.10 412.90 Td ($2.7 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 260.05 412.90 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 265.34 412.90 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 344.81 412.90 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 354.31 412.90 Td ($2.6 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 399.26 412.90 Td (\). During the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 452.33 412.90 Td (thr) Tj ET Q q 0 0 0 rg BT 464.28 412.90 Td (ee mon) Tj ET Q q 0 0 0 rg BT 494.92 412.90 Td (ths ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 400.90 Td (ended Mar) Tj ET Q q 0 0 0 rg BT 98.65 400.90 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 145.56 400.90 Td (, a t) Tj ET Q q 0 0 0 rg BT 160.62 400.90 Td (ot) Tj ET Q q 0 0 0 rg BT 169.12 400.90 Td (al of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 189.05 400.90 Td (5.6 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 231.67 400.90 Td ( c) Tj ET Q q 0 0 0 rg BT 238.08 400.90 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 289.42 400.90 Td (es w) Tj ET Q q 0 0 0 rg BT 307.63 400.90 Td (er) Tj ET Q q 0 0 0 rg BT 315.96 400.90 Td (e issued f) Tj ET Q q 0 0 0 rg BT 353.90 400.90 Td (or pr) Tj ET Q q 0 0 0 rg BT 373.50 400.90 Td (oceeds of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 414.97 400.90 Td ($107.6 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 472.79 400.90 Td ( as f) Tj ET Q q 0 0 0 rg BT 488.85 400.90 Td (ollo) Tj ET Q q 0 0 0 rg BT 503.95 400.90 Td (w) Tj ET Q q 0 0 0 rg BT 511.01 400.90 Td (s: ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 388.90 Td (4.4 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 96.62 388.90 Td ( shar) Tj ET Q q 0 0 0 rg BT 116.19 388.90 Td (es fr) Tj ET Q q 0 0 0 rg BT 133.71 388.90 Td (om public of) Tj ET Q q 0 0 0 rg BT 184.30 388.90 Td (f) Tj ET Q q 0 0 0 rg BT 187.11 388.90 Td (erings, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 216.49 388.90 Td (0.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 259.11 388.90 Td ( shar) Tj ET Q q 0 0 0 rg BT 278.68 388.90 Td (es f) Tj ET Q q 0 0 0 rg BT 292.67 388.90 Td (or in) Tj ET Q q 0 0 0 rg BT 311.14 388.90 Td (t) Tj ET Q q 0 0 0 rg BT 314.39 388.90 Td (er) Tj ET Q q 0 0 0 rg BT 322.72 388.90 Td (es) Tj ET Q q 0 0 0 rg BT 331.49 388.90 Td (t pa) Tj ET Q q 0 0 0 rg BT 346.96 388.90 Td (ymen) Tj ET Q q 0 0 0 rg BT 369.61 388.90 Td (ts on c) Tj ET Q q 0 0 0 rg BT 396.07 388.90 Td (on) Tj ET Q q 0 0 0 rg BT 406.43 388.90 Td (v) Tj ET Q q 0 0 0 rg BT 410.85 388.90 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 465.36 388.90 Td (tur) Tj ET Q q 0 0 0 rg BT 477.32 388.90 Td (es and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.02 388.90 Td (0.7 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 376.90 Td (million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 81.70 376.90 Td ( shar) Tj ET Q q 0 0 0 rg BT 101.27 376.90 Td (es fr) Tj ET Q q 0 0 0 rg BT 118.79 376.90 Td (om the e) Tj ET Q q 0 0 0 rg BT 154.98 376.90 Td (x) Tj ET Q q 0 0 0 rg BT 159.04 376.90 Td (er) Tj ET Q q 0 0 0 rg BT 167.36 376.90 Td (cise of c) Tj ET Q q 0 0 0 rg BT 199.76 376.90 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 251.11 376.90 Td (e op) Tj ET Q q 0 0 0 rg BT 268.83 376.90 Td (tions, r) Tj ET Q q 0 0 0 rg BT 297.02 376.90 Td (es) Tj ET Q q 0 0 0 rg BT 305.80 376.90 Td (trict) Tj ET Q q 0 0 0 rg BT 322.40 376.90 Td (ed shar) Tj ET Q q 0 0 0 rg BT 352.20 376.90 Td (e units \(R) Tj ET Q q 0 0 0 rg BT 394.27 376.90 Td (SUs\) and DSUs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 358.90 Td (As a) Tj ET Q q 0 0 0 rg BT 70.66 358.90 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 76.27 358.90 Td (Ma) Tj ET Q q 0 0 0 rg BT 89.42 358.90 Td (y1, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 126.30 358.90 Td (, ther) Tj ET Q q 0 0 0 rg BT 147.99 358.90 Td (e w) Tj ET Q q 0 0 0 rg BT 162.29 358.90 Td (er) Tj ET Q q 0 0 0 rg BT 170.62 358.90 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 177.86 358.90 Td (222.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 230.61 358.90 Td ( c) Tj ET Q q 0 0 0 rg BT 237.02 358.90 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 288.37 358.90 Td (es outs) Tj ET Q q 0 0 0 rg BT 317.19 358.90 Td (t) Tj ET Q q 0 0 0 rg BT 320.42 358.90 Td (anding.) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 336.70 Td (Share Purchase Op) Tj ET Q q 0 0 0 rg BT 139.49 336.70 Td (tions) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 321.70 Td (As a) Tj ET Q q 0 0 0 rg BT 70.66 321.70 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 76.27 321.70 Td (Mar) Tj ET Q q 0 0 0 rg BT 92.95 321.70 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 139.85 321.70 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 194.16 321.70 Td (y had outs) Tj ET Q q 0 0 0 rg BT 236.18 321.70 Td (t) Tj ET Q q 0 0 0 rg BT 239.41 321.70 Td (anding ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 269.22 321.70 Td (4.6 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 311.84 321.70 Td ( shar) Tj ET Q q 0 0 0 rg BT 331.41 321.70 Td (e pur) Tj ET Q q 0 0 0 rg BT 352.49 321.70 Td (chase op) Tj ET Q q 0 0 0 rg BT 388.39 321.70 Td (tions, with an a) Tj ET Q q 0 0 0 rg BT 450.47 321.70 Td (v) Tj ET Q q 0 0 0 rg BT 454.89 321.70 Td (er) Tj ET Q q 0 0 0 rg BT 463.15 321.70 Td (ag) Tj ET Q q 0 0 0 rg BT 472.56 321.70 Td (e e) Tj ET Q q 0 0 0 rg BT 484.62 321.70 Td (x) Tj ET Q q 0 0 0 rg BT 488.69 321.70 Td (er) Tj ET Q q 0 0 0 rg BT 497.00 321.70 Td (cise price of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 309.70 Td ($17.24) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 81.87 309.70 Td (. The op) Tj ET Q q 0 0 0 rg BT 114.50 309.70 Td (tions ar) Tj ET Q q 0 0 0 rg BT 144.99 309.70 Td (e e) Tj ET Q q 0 0 0 rg BT 157.05 309.70 Td (x) Tj ET Q q 0 0 0 rg BT 161.11 309.70 Td (er) Tj ET Q q 0 0 0 rg BT 169.43 309.70 Td (cisable b) Tj ET Q q 0 0 0 rg BT 204.64 309.70 Td (y the holder a) Tj ET Q q 0 0 0 rg BT 260.77 309.70 Td (t an) Tj ET Q q 0 0 0 rg BT 276.24 309.70 Td (y time a) Tj ET Q q 0 0 0 rg BT 308.62 309.70 Td (ft) Tj ET Q q 0 0 0 rg BT 314.92 309.70 Td (er v) Tj ET Q q 0 0 0 rg BT 330.06 309.70 Td (es) Tj ET Q q 0 0 0 rg BT 338.83 309.70 Td (ting and up t) Tj ET Q q 0 0 0 rg BT 390.28 309.70 Td (o 10 y) Tj ET Q q 0 0 0 rg BT 414.62 309.70 Td (ear) Tj ET Q q 0 0 0 rg BT 427.70 309.70 Td (s fr) Tj ET Q q 0 0 0 rg BT 440.25 309.70 Td (om the da) Tj ET Q q 0 0 0 rg BT 481.56 309.70 Td (t) Tj ET Q q 0 0 0 rg BT 484.80 309.70 Td (e of gr) Tj ET Q q 0 0 0 rg BT 510.61 309.70 Td (an) Tj ET Q q 0 0 0 rg BT 520.56 309.70 Td (t. The ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 297.70 Td (op) Tj ET Q q 0 0 0 rg BT 64.48 297.70 Td (tions ha) Tj ET Q q 0 0 0 rg BT 96.71 297.70 Td (v) Tj ET Q q 0 0 0 rg BT 101.12 297.70 Td (e been issued a) Tj ET Q q 0 0 0 rg BT 163.64 297.70 Td (t v) Tj ET Q q 0 0 0 rg BT 173.62 297.70 Td (arious times pur) Tj ET Q q 0 0 0 rg BT 239.49 297.70 Td (suan) Tj ET Q q 0 0 0 rg BT 258.61 297.70 Td (t t) Tj ET Q q 0 0 0 rg BT 267.47 297.70 Td (o the Compan) Tj ET Q q 0 0 0 rg BT 324.55 297.70 Td (y) Tj ET Q q 0 0 0 rg BT 329.38 297.70 Td () Tj ET Q q 0 0 0 rg BT 331.27 297.70 Td (s s) Tj ET Q q 0 0 0 rg BT 341.24 297.70 Td (t) Tj ET Q q 0 0 0 rg BT 344.49 297.70 Td (ock op) Tj ET Q q 0 0 0 rg BT 371.28 297.70 Td (tion plan t) Tj ET Q q 0 0 0 rg BT 412.82 297.70 Td (o the emplo) Tj ET Q q 0 0 0 rg BT 461.92 297.70 Td (y) Tj ET Q q 0 0 0 rg BT 466.33 297.70 Td (ees, of) Tj ET Q q 0 0 0 rg BT 493.17 297.70 Td (ficer) Tj ET Q q 0 0 0 rg BT 511.04 297.70 Td (s and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 285.70 Td (dir) Tj ET Q q 0 0 0 rg BT 64.90 285.70 Td (ect) Tj ET Q q 0 0 0 rg BT 77.36 285.70 Td (or) Tj ET Q q 0 0 0 rg BT 85.95 285.70 Td (s of the Compan) Tj ET Q q 0 0 0 rg BT 152.25 285.70 Td (y) Tj ET Q q 0 0 0 rg BT 156.12 285.70 Td (. The op) Tj ET Q q 0 0 0 rg BT 188.75 285.70 Td (tions gr) Tj ET Q q 0 0 0 rg BT 219.08 285.70 Td (an) Tj ET Q q 0 0 0 rg BT 229.03 285.70 Td (t) Tj ET Q q 0 0 0 rg BT 232.28 285.70 Td (ed permit the holder t) Tj ET Q q 0 0 0 rg BT 322.27 285.70 Td (o acquir) Tj ET Q q 0 0 0 rg BT 354.98 285.70 Td (e shar) Tj ET Q q 0 0 0 rg BT 379.52 285.70 Td (es a) Tj ET Q q 0 0 0 rg BT 395.37 285.70 Td (t an e) Tj ET Q q 0 0 0 rg BT 418.11 285.70 Td (x) Tj ET Q q 0 0 0 rg BT 422.17 285.70 Td (er) Tj ET Q q 0 0 0 rg BT 430.49 285.70 Td (cise price appr) Tj ET Q q 0 0 0 rg BT 489.28 285.70 Td (o) Tj ET Q q 0 0 0 rg BT 494.36 285.70 Td (xima) Tj ET Q q 0 0 0 rg BT 513.67 285.70 Td (t) Tj ET Q q 0 0 0 rg BT 516.92 285.70 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 273.70 Td (equal t) Tj ET Q q 0 0 0 rg BT 82.08 273.70 Td (o the mark) Tj ET Q q 0 0 0 rg BT 125.94 273.70 Td (e) Tj ET Q q 0 0 0 rg BT 130.87 273.70 Td (t price of such shar) Tj ET Q q 0 0 0 rg BT 207.78 273.70 Td (es a) Tj ET Q q 0 0 0 rg BT 223.62 273.70 Td (t the da) Tj ET Q q 0 0 0 rg BT 255.03 273.70 Td (t) Tj ET Q q 0 0 0 rg BT 258.27 273.70 Td (e the op) Tj ET Q q 0 0 0 rg BT 291.83 273.70 Td (tion is gr) Tj ET Q q 0 0 0 rg BT 326.71 273.70 Td (an) Tj ET Q q 0 0 0 rg BT 336.67 273.70 Td (t) Tj ET Q q 0 0 0 rg BT 339.91 273.70 Td (ed. The purpose of gr) Tj ET Q q 0 0 0 rg BT 426.53 273.70 Td (an) Tj ET Q q 0 0 0 rg BT 436.48 273.70 Td (ting op) Tj ET Q q 0 0 0 rg BT 464.83 273.70 Td (tions is t) Tj ET Q q 0 0 0 rg BT 498.89 273.70 Td (o enc) Tj ET Q q 0 0 0 rg BT 520.80 273.70 Td (our) Tj ET Q q 0 0 0 rg BT 534.61 273.70 Td (ag) Tj ET Q q 0 0 0 rg BT 544.02 273.70 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 261.70 Td (the holder t) Tj ET Q q 0 0 0 rg BT 101.89 261.70 Td (o acquir) Tj ET Q q 0 0 0 rg BT 134.60 261.70 Td (e an o) Tj ET Q q 0 0 0 rg BT 159.38 261.70 Td (wner) Tj ET Q q 0 0 0 rg BT 180.07 261.70 Td (ship in) Tj ET Q q 0 0 0 rg BT 206.50 261.70 Td (t) Tj ET Q q 0 0 0 rg BT 209.74 261.70 Td (er) Tj ET Q q 0 0 0 rg BT 218.07 261.70 Td (es) Tj ET Q q 0 0 0 rg BT 226.85 261.70 Td (t in the Compan) Tj ET Q q 0 0 0 rg BT 291.81 261.70 Td (y o) Tj ET Q q 0 0 0 rg BT 303.83 261.70 Td (v) Tj ET Q q 0 0 0 rg BT 308.25 261.70 Td (er a period of time, which acts as a financial incen) Tj ET Q q 0 0 0 rg BT 510.19 261.70 Td (tiv) Tj ET Q q 0 0 0 rg BT 520.25 261.70 Td (e and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 249.70 Td (aligns the in) Tj ET Q q 0 0 0 rg BT 102.81 249.70 Td (t) Tj ET Q q 0 0 0 rg BT 106.05 249.70 Td (er) Tj ET Q q 0 0 0 rg BT 114.38 249.70 Td (es) Tj ET Q q 0 0 0 rg BT 123.16 249.70 Td (ts of the holder with the long-t) Tj ET Q q 0 0 0 rg BT 247.88 249.70 Td (erm in) Tj ET Q q 0 0 0 rg BT 274.05 249.70 Td (t) Tj ET Q q 0 0 0 rg BT 277.29 249.70 Td (er) Tj ET Q q 0 0 0 rg BT 285.62 249.70 Td (es) Tj ET Q q 0 0 0 rg BT 294.40 249.70 Td (ts of the Compan) Tj ET Q q 0 0 0 rg BT 364.05 249.70 Td (y and its shar) Tj ET Q q 0 0 0 rg BT 417.52 249.70 Td (eholder) Tj ET Q q 0 0 0 rg BT 448.86 249.70 Td (s.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 231.70 Td (If all op) Tj ET Q q 0 0 0 rg BT 83.96 231.70 Td (tions outs) Tj ET Q q 0 0 0 rg BT 123.98 231.70 Td (t) Tj ET Q q 0 0 0 rg BT 127.20 231.70 Td (anding as a) Tj ET Q q 0 0 0 rg BT 172.68 231.70 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.29 231.70 Td (Mar) Tj ET Q q 0 0 0 rg BT 194.97 231.70 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 241.88 231.70 Td ( w) Tj ET Q q 0 0 0 rg BT 251.20 231.70 Td (er) Tj ET Q q 0 0 0 rg BT 259.53 231.70 Td (e e) Tj ET Q q 0 0 0 rg BT 271.59 231.70 Td (x) Tj ET Q q 0 0 0 rg BT 275.66 231.70 Td (er) Tj ET Q q 0 0 0 rg BT 283.97 231.70 Td (cised, appr) Tj ET Q q 0 0 0 rg BT 328.01 231.70 Td (o) Tj ET Q q 0 0 0 rg BT 333.09 231.70 Td (xima) Tj ET Q q 0 0 0 rg BT 352.40 231.70 Td (t) Tj ET Q q 0 0 0 rg BT 355.65 231.70 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 369.70 231.70 Td (4.6 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.32 231.70 Td ( shar) Tj ET Q q 0 0 0 rg BT 431.89 231.70 Td (es w) Tj ET Q q 0 0 0 rg BT 450.09 231.70 Td (ould be issued and the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 219.70 Td (Compan) Tj ET Q q 0 0 0 rg BT 87.71 219.70 Td (y w) Tj ET Q q 0 0 0 rg BT 101.55 219.70 Td (ould r) Tj ET Q q 0 0 0 rg BT 125.24 219.70 Td (eceiv) Tj ET Q q 0 0 0 rg BT 146.13 219.70 Td (e pr) Tj ET Q q 0 0 0 rg BT 161.95 219.70 Td (oceeds of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 203.41 219.70 Td ($79.4 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 256.17 219.70 Td (.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 196.35 Td (Liquidity) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 181.30 Td (Liquidity risk e) Tj ET Q q 0 0 0 rg BT 112.31 181.30 Td (xis) Tj ET Q q 0 0 0 rg BT 122.74 181.30 Td (ts due t) Tj ET Q q 0 0 0 rg BT 153.25 181.30 Td (o the possibility of the Compan) Tj ET Q q 0 0 0 rg BT 279.68 181.30 Td (y not being able t) Tj ET Q q 0 0 0 rg BT 350.18 181.30 Td (o g) Tj ET Q q 0 0 0 rg BT 362.33 181.30 Td (ener) Tj ET Q q 0 0 0 rg BT 380.82 181.30 Td (a) Tj ET Q q 0 0 0 rg BT 385.52 181.30 Td (t) Tj ET Q q 0 0 0 rg BT 388.76 181.30 Td (e suf) Tj ET Q q 0 0 0 rg BT 408.12 181.30 Td (ficien) Tj ET Q q 0 0 0 rg BT 430.12 181.30 Td (t c) Tj ET Q q 0 0 0 rg BT 439.88 181.30 Td (ash flo) Tj ET Q q 0 0 0 rg BT 466.68 181.30 Td (w) Tj ET Q q 0 0 0 rg BT 472.96 181.30 Td (, and/) Tj ET Q q 0 0 0 rg BT 496.71 181.30 Td (or not ha) Tj ET Q q 0 0 0 rg BT 533.75 181.30 Td (ving ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 169.30 Td (access t) Tj ET Q q 0 0 0 rg BT 85.56 169.30 Td (o suf) Tj ET Q q 0 0 0 rg BT 105.21 169.30 Td (ficien) Tj ET Q q 0 0 0 rg BT 127.22 169.30 Td (t deb) Tj ET Q q 0 0 0 rg BT 148.27 169.30 Td (t and equity c) Tj ET Q q 0 0 0 rg BT 203.50 169.30 Td (apit) Tj ET Q q 0 0 0 rg BT 219.06 169.30 Td (al t) Tj ET Q q 0 0 0 rg BT 231.66 169.30 Td (o fund its ong) Tj ET Q q 0 0 0 rg BT 287.25 169.30 Td (oing oper) Tj ET Q q 0 0 0 rg BT 325.83 169.30 Td (a) Tj ET Q q 0 0 0 rg BT 330.52 169.30 Td (tions and gr) Tj ET Q q 0 0 0 rg BT 378.46 169.30 Td (o) Tj ET Q q 0 0 0 rg BT 383.69 169.30 Td (w) Tj ET Q q 0 0 0 rg BT 390.86 169.30 Td (th and t) Tj ET Q q 0 0 0 rg BT 422.54 169.30 Td (o r) Tj ET Q q 0 0 0 rg BT 433.42 169.30 Td (e) Tj ET Q q 0 0 0 rg BT 438.31 169.30 Td (finance or mee) Tj ET Q q 0 0 0 rg BT 499.33 169.30 Td (t e) Tj ET Q q 0 0 0 rg BT 509.76 169.30 Td (xis) Tj ET Q q 0 0 0 rg BT 520.19 169.30 Td (ting ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 157.30 Td (pa) Tj ET Q q 0 0 0 rg BT 63.86 157.30 Td (ymen) Tj ET Q q 0 0 0 rg BT 86.51 157.30 Td (t oblig) Tj ET Q q 0 0 0 rg BT 111.76 157.30 Td (a) Tj ET Q q 0 0 0 rg BT 116.46 157.30 Td (tions.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 139.30 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 139.30 Td (y manag) Tj ET Q q 0 0 0 rg BT 139.30 139.30 Td (es its liquidity risk b) Tj ET Q q 0 0 0 rg BT 219.05 139.30 Td (y s) Tj ET Q q 0 0 0 rg BT 229.63 139.30 Td (t) Tj ET Q q 0 0 0 rg BT 232.86 139.30 Td (ag) Tj ET Q q 0 0 0 rg BT 242.45 139.30 Td (g) Tj ET Q q 0 0 0 rg BT 247.08 139.30 Td (ering deb) Tj ET Q q 0 0 0 rg BT 285.49 139.30 Td (t ma) Tj ET Q q 0 0 0 rg BT 303.79 139.30 Td (turities; r) Tj ET Q q 0 0 0 rg BT 341.00 139.30 Td (eneg) Tj ET Q q 0 0 0 rg BT 360.84 139.30 Td (otia) Tj ET Q q 0 0 0 rg BT 376.46 139.30 Td (ting e) Tj ET Q q 0 0 0 rg BT 399.15 139.30 Td (xpiring cr) Tj ET Q q 0 0 0 rg BT 436.61 139.30 Td (edit arr) Tj ET Q q 0 0 0 rg BT 466.30 139.30 Td (ang) Tj ET Q q 0 0 0 rg BT 480.97 139.30 Td (emen) Tj ET Q q 0 0 0 rg BT 504.07 139.30 Td (ts ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 127.30 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 127.30 Td (oactiv) Tj ET Q q 0 0 0 rg BT 86.93 127.30 Td (ely; using r) Tj ET Q q 0 0 0 rg BT 130.70 127.30 Td (e) Tj ET Q q 0 0 0 rg BT 135.63 127.30 Td (v) Tj ET Q q 0 0 0 rg BT 140.05 127.30 Td (olving cr) Tj ET Q q 0 0 0 rg BT 174.24 127.30 Td (edit f) Tj ET Q q 0 0 0 rg BT 195.23 127.30 Td (acilities; main) Tj ET Q q 0 0 0 rg BT 250.84 127.30 Td (t) Tj ET Q q 0 0 0 rg BT 254.06 127.30 Td (aining a lar) Tj ET Q q 0 0 0 rg BT 298.40 127.30 Td (g) Tj ET Q q 0 0 0 rg BT 303.03 127.30 Td (e unencumber) Tj ET Q q 0 0 0 rg BT 362.06 127.30 Td (ed asse) Tj ET Q q 0 0 0 rg BT 392.08 127.30 Td (ts pool; and issuing equity when ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 115.30 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 115.30 Td (onsider) Tj ET Q q 0 0 0 rg BT 88.46 115.30 Td (ed appr) Tj ET Q q 0 0 0 rg BT 119.58 115.30 Td (opria) Tj ET Q q 0 0 0 rg BT 140.58 115.30 Td (t) Tj ET Q q 0 0 0 rg BT 143.82 115.30 Td (e.) Tj ET Q endstream endobj 101 0 obj <> endobj 102 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (49) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 694.50 Td (Sour) Tj ET Q q 0 0 0 rg BT 72.46 694.50 Td (ces of liquidity primarily c) Tj ET Q q 0 0 0 rg BT 176.32 694.50 Td (onsis) Tj ET Q q 0 0 0 rg BT 196.86 694.50 Td (t of c) Tj ET Q q 0 0 0 rg BT 217.20 694.50 Td (ash flo) Tj ET Q q 0 0 0 rg BT 244.00 694.50 Td (w fr) Tj ET Q q 0 0 0 rg BT 259.78 694.50 Td (om oper) Tj ET Q q 0 0 0 rg BT 294.09 694.50 Td (a) Tj ET Q q 0 0 0 rg BT 298.79 694.50 Td (tions, c) Tj ET Q q 0 0 0 rg BT 327.77 694.50 Td (ash and c) Tj ET Q q 0 0 0 rg BT 365.69 694.50 Td (ash equiv) Tj ET Q q 0 0 0 rg BT 404.05 694.50 Td (alen) Tj ET Q q 0 0 0 rg BT 421.28 694.50 Td (ts, and a) Tj ET Q q 0 0 0 rg BT 455.47 694.50 Td (v) Tj ET Q q 0 0 0 rg BT 459.84 694.50 Td (ailability under the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 682.50 Td (Compan) Tj ET Q q 0 0 0 rg BT 87.71 682.50 Td (y) Tj ET Q q 0 0 0 rg BT 92.54 682.50 Td () Tj ET Q q 0 0 0 rg BT 94.42 682.50 Td (s e) Tj ET Q q 0 0 0 rg BT 105.42 682.50 Td (xis) Tj ET Q q 0 0 0 rg BT 115.84 682.50 Td (ting r) Tj ET Q q 0 0 0 rg BT 137.06 682.50 Td (e) Tj ET Q q 0 0 0 rg BT 141.99 682.50 Td (v) Tj ET Q q 0 0 0 rg BT 146.41 682.50 Td (olving cr) Tj ET Q q 0 0 0 rg BT 180.60 682.50 Td (edit f) Tj ET Q q 0 0 0 rg BT 201.59 682.50 Td (acilities. If necessar) Tj ET Q q 0 0 0 rg BT 280.22 682.50 Td (y) Tj ET Q q 0 0 0 rg BT 284.03 682.50 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 338.34 682.50 Td (y is also able t) Tj ET Q q 0 0 0 rg BT 394.95 682.50 Td (o ob) Tj ET Q q 0 0 0 rg BT 412.96 682.50 Td (t) Tj ET Q q 0 0 0 rg BT 416.19 682.50 Td (ain financing on its unencumber) Tj ET Q q 0 0 0 rg BT 546.58 682.50 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 670.50 Td (asse) Tj ET Q q 0 0 0 rg BT 71.53 670.50 Td (ts.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 660 m 405.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 645 m 405.5 645 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 660 m 425.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 405.5 645 m 425.5 645 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 660 m 480.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 425.5 645 m 480.5 645 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 660 m 500.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 645 m 500.5 645 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 660 m 555.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 645 m 555.5 645 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 425.5 645 m 480.5 645 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 578 m 405.5 578 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 578 m 425.5 578 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 578 m 480.5 578 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 578 m 500.5 578 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 578 m 555.5 578 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 649.50 Td (As at \(millions of dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.65 649.50 Td (March 31, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 488.40 649.50 Td (December 31, 2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 635.75 Td (Revolving credit facilities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 428.00 635.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 463.45 635.75 Td (875) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 635.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.55 635.75 Td (875) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 622.75 Td (Cash and cash equivalents) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.00 622.75 Td (24) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.10 622.75 Td (17) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 608.75 Td (Unencumbered assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 594.75 Td (Total, based on IFRS value) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 456.55 594.75 Td (5,166) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.75 594.75 Td (4,959) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.00 581.75 Td (Based on deb) Tj ET Q q 0 0 0 rg BT 112.37 581.75 Td (t c) Tj ET Q q 0 0 0 rg BT 121.15 581.75 Td (o) Tj ET Q q 0 0 0 rg BT 125.86 581.75 Td (v) Tj ET Q q 0 0 0 rg BT 129.84 581.75 Td (enan) Tj ET Q q 0 0 0 rg BT 148.00 581.75 Td (ts) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 154.53 586.04 Td ( \(1\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 456.55 581.75 Td (4,977) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.75 581.75 Td (4,801) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 570.44 Td (\(1\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 567.10 Td (Includes unencumber) Tj ET Q q 0 0 0 rg BT 124.42 567.10 Td (ed asse) Tj ET Q q 0 0 0 rg BT 145.44 567.10 Td (ts as de) Tj ET Q q 0 0 0 rg BT 166.88 567.10 Td (fined b) Tj ET Q q 0 0 0 rg BT 186.68 567.10 Td (y deb) Tj ET Q q 0 0 0 rg BT 202.24 567.10 Td (t c) Tj ET Q q 0 0 0 rg BT 209.07 567.10 Td (o) Tj ET Q q 0 0 0 rg BT 212.73 567.10 Td (v) Tj ET Q q 0 0 0 rg BT 215.82 567.10 Td (enan) Tj ET Q q 0 0 0 rg BT 229.95 567.10 Td (ts, e) Tj ET Q q 0 0 0 rg BT 241.74 567.10 Td (x) Tj ET Q q 0 0 0 rg BT 244.61 567.10 Td (cluding in) Tj ET Q q 0 0 0 rg BT 271.87 567.10 Td (v) Tj ET Q q 0 0 0 rg BT 274.96 567.10 Td (es) Tj ET Q q 0 0 0 rg BT 281.10 567.10 Td (tmen) Tj ET Q q 0 0 0 rg BT 296.13 567.10 Td (t pr) Tj ET Q q 0 0 0 rg BT 306.07 567.10 Td (operties under de) Tj ET Q q 0 0 0 rg BT 356.78 567.10 Td (v) Tj ET Q q 0 0 0 rg BT 359.87 567.10 Td (elopmen) Tj ET Q q 0 0 0 rg BT 385.02 567.10 Td (t and de) Tj ET Q q 0 0 0 rg BT 408.33 567.10 Td (f) Tj ET Q q 0 0 0 rg BT 410.30 567.10 Td (err) Tj ET Q q 0 0 0 rg BT 418.57 567.10 Td (ed t) Tj ET Q q 0 0 0 rg BT 429.57 567.10 Td (a) Tj ET Q q 0 0 0 rg BT 432.86 567.10 Td (x) Tj ET Q q 0 0 0 rg BT 435.71 567.10 Td (es, with shopping cen) Tj ET Q q 0 0 0 rg BT 497.15 567.10 Td (tr) Tj ET Q q 0 0 0 rg BT 501.84 567.10 Td (es v) Tj ET Q q 0 0 0 rg BT 512.71 567.10 Td (alued under ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 558.70 Td (IFR) Tj ET Q q 0 0 0 rg BT 71.69 558.70 Td (S a) Tj ET Q q 0 0 0 rg BT 79.78 558.70 Td (t the a) Tj ET Q q 0 0 0 rg BT 98.03 558.70 Td (v) Tj ET Q q 0 0 0 rg BT 101.12 558.70 Td (er) Tj ET Q q 0 0 0 rg BT 106.90 558.70 Td (ag) Tj ET Q q 0 0 0 rg BT 113.49 558.70 Td (e c) Tj ET Q q 0 0 0 rg BT 121.46 558.70 Td (apit) Tj ET Q q 0 0 0 rg BT 132.35 558.70 Td (aliz) Tj ET Q q 0 0 0 rg BT 141.57 558.70 Td (a) Tj ET Q q 0 0 0 rg BT 144.86 558.70 Td (tion r) Tj ET Q q 0 0 0 rg BT 160.06 558.70 Td (a) Tj ET Q q 0 0 0 rg BT 163.34 558.70 Td (t) Tj ET Q q 0 0 0 rg BT 165.61 558.70 Td (e o) Tj ET Q q 0 0 0 rg BT 174.34 558.70 Td (v) Tj ET Q q 0 0 0 rg BT 177.43 558.70 Td (er the las) Tj ET Q q 0 0 0 rg BT 203.65 558.70 Td (t 10 fisc) Tj ET Q q 0 0 0 rg BT 225.63 558.70 Td (al quart) Tj ET Q q 0 0 0 rg BT 247.59 558.70 Td (er) Tj ET Q q 0 0 0 rg BT 253.40 558.70 Td (s.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 540.70 Td (Cash and c) Tj ET Q q 0 0 0 rg BT 97.25 540.70 Td (ash equiv) Tj ET Q q 0 0 0 rg BT 135.62 540.70 Td (alen) Tj ET Q q 0 0 0 rg BT 152.84 540.70 Td (ts w) Tj ET Q q 0 0 0 rg BT 169.42 540.70 Td (er) Tj ET Q q 0 0 0 rg BT 177.75 540.70 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 184.99 540.70 Td ($23.7 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 237.74 540.70 Td ( as a) Tj ET Q q 0 0 0 rg BT 255.66 540.70 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 261.27 540.70 Td (Mar) Tj ET Q q 0 0 0 rg BT 277.95 540.70 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 324.86 540.70 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 330.15 540.70 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 409.62 540.70 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 419.12 540.70 Td ($17.4 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.87 540.70 Td (\). As a) Tj ET Q q 0 0 0 rg BT 496.34 540.70 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 501.95 540.70 Td (Mar) Tj ET Q q 0 0 0 rg BT 518.63 540.70 Td (ch31, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 528.70 Td (2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.27 528.70 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 128.58 528.70 Td (y had secur) Tj ET Q q 0 0 0 rg BT 174.64 528.70 Td (ed and unsecur) Tj ET Q q 0 0 0 rg BT 236.92 528.70 Td (ed cr) Tj ET Q q 0 0 0 rg BT 257.00 528.70 Td (edit f) Tj ET Q q 0 0 0 rg BT 277.99 528.70 Td (acilities t) Tj ET Q q 0 0 0 rg BT 313.94 528.70 Td (ot) Tj ET Q q 0 0 0 rg BT 322.44 528.70 Td (aling ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 344.04 528.70 Td ($875.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 401.86 528.70 Td ( of which ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 441.15 528.70 Td ($833.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 498.97 528.70 Td ( is a) Tj ET Q q 0 0 0 rg BT 514.32 528.70 Td (v) Tj ET Q q 0 0 0 rg BT 518.69 528.70 Td (ailable ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 516.70 Td (t) Tj ET Q q 0 0 0 rg BT 57.25 516.70 Td (o be dr) Tj ET Q q 0 0 0 rg BT 85.81 516.70 Td (a) Tj ET Q q 0 0 0 rg BT 90.53 516.70 Td (wn. The Compan) Tj ET Q q 0 0 0 rg BT 158.79 516.70 Td (y also had unencumber) Tj ET Q q 0 0 0 rg BT 253.46 516.70 Td (ed asse) Tj ET Q q 0 0 0 rg BT 283.48 516.70 Td (ts with a f) Tj ET Q q 0 0 0 rg BT 323.22 516.70 Td (air v) Tj ET Q q 0 0 0 rg BT 340.42 516.70 Td (alue of appr) Tj ET Q q 0 0 0 rg BT 389.21 516.70 Td (o) Tj ET Q q 0 0 0 rg BT 394.28 516.70 Td (xima) Tj ET Q q 0 0 0 rg BT 413.59 516.70 Td (t) Tj ET Q q 0 0 0 rg BT 416.84 516.70 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 430.89 516.70 Td ($5.2 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 475.85 516.70 Td (. During the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 525.88 516.70 Td (thr) Tj ET Q q 0 0 0 rg BT 537.84 516.70 Td (ee ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 504.70 Td (mon) Tj ET Q q 0 0 0 rg BT 72.42 504.70 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 131.85 504.70 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.76 504.70 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 233.06 504.70 Td (y issued ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 267.71 504.70 Td ($90.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 320.46 504.70 Td ( of senior unsecur) Tj ET Q q 0 0 0 rg BT 393.00 504.70 Td (ed deben) Tj ET Q q 0 0 0 rg BT 431.11 504.70 Td (tur) Tj ET Q q 0 0 0 rg BT 443.07 504.70 Td (es. This incr) Tj ET Q q 0 0 0 rg BT 490.46 504.70 Td (eased ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 492.70 Td (liquidity w) Tj ET Q q 0 0 0 rg BT 96.11 492.70 Td (as partially used t) Tj ET Q q 0 0 0 rg BT 167.33 492.70 Td (o r) Tj ET Q q 0 0 0 rg BT 178.21 492.70 Td (epa) Tj ET Q q 0 0 0 rg BT 193.05 492.70 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 199.83 492.70 Td ($70.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 252.59 492.70 Td ( of mortg) Tj ET Q q 0 0 0 rg BT 290.05 492.70 Td (ag) Tj ET Q q 0 0 0 rg BT 299.47 492.70 Td (e deb) Tj ET Q q 0 0 0 rg BT 322.14 492.70 Td (t during the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 372.11 492.70 Td (thr) Tj ET Q q 0 0 0 rg BT 384.06 492.70 Td (ee mon) Tj ET Q q 0 0 0 rg BT 414.70 492.70 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 474.13 492.70 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.04 492.70 Td (. As a ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 480.70 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 480.70 Td (esult, the Compan) Tj ET Q q 0 0 0 rg BT 131.44 480.70 Td (y also held a) Tj ET Q q 0 0 0 rg BT 181.42 480.70 Td (v) Tj ET Q q 0 0 0 rg BT 185.84 480.70 Td (er) Tj ET Q q 0 0 0 rg BT 194.10 480.70 Td (ag) Tj ET Q q 0 0 0 rg BT 203.51 480.70 Td (e c) Tj ET Q q 0 0 0 rg BT 214.89 480.70 Td (ash balances of appr) Tj ET Q q 0 0 0 rg BT 298.08 480.70 Td (o) Tj ET Q q 0 0 0 rg BT 303.16 480.70 Td (xima) Tj ET Q q 0 0 0 rg BT 322.47 480.70 Td (t) Tj ET Q q 0 0 0 rg BT 325.71 480.70 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 339.77 480.70 Td ($54 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.93 480.70 Td ( during the period. Manag) Tj ET Q q 0 0 0 rg BT 490.87 480.70 Td (emen) Tj ET Q q 0 0 0 rg BT 513.97 480.70 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 468.70 Td (belie) Tj ET Q q 0 0 0 rg BT 73.75 468.70 Td (v) Tj ET Q q 0 0 0 rg BT 78.17 468.70 Td (es tha) Tj ET Q q 0 0 0 rg BT 102.61 468.70 Td (t it has suf) Tj ET Q q 0 0 0 rg BT 144.46 468.70 Td (ficien) Tj ET Q q 0 0 0 rg BT 166.47 468.70 Td (t r) Tj ET Q q 0 0 0 rg BT 175.44 468.70 Td (esour) Tj ET Q q 0 0 0 rg BT 198.19 468.70 Td (ces t) Tj ET Q q 0 0 0 rg BT 216.82 468.70 Td (o mee) Tj ET Q q 0 0 0 rg BT 242.24 468.70 Td (t its oper) Tj ET Q q 0 0 0 rg BT 278.45 468.70 Td (a) Tj ET Q q 0 0 0 rg BT 283.15 468.70 Td (tional and in) Tj ET Q q 0 0 0 rg BT 333.60 468.70 Td (v) Tj ET Q q 0 0 0 rg BT 338.02 468.70 Td (es) Tj ET Q q 0 0 0 rg BT 346.80 468.70 Td (ting r) Tj ET Q q 0 0 0 rg BT 368.02 468.70 Td (equir) Tj ET Q q 0 0 0 rg BT 389.15 468.70 Td (emen) Tj ET Q q 0 0 0 rg BT 412.25 468.70 Td (ts in the near and long) Tj ET Q q 0 0 0 rg BT 503.19 468.70 Td (er t) Tj ET Q q 0 0 0 rg BT 517.16 468.70 Td (erm ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 456.70 Td (based on the a) Tj ET Q q 0 0 0 rg BT 113.70 456.70 Td (v) Tj ET Q q 0 0 0 rg BT 118.07 456.70 Td (ailability of c) Tj ET Q q 0 0 0 rg BT 169.24 456.70 Td (apit) Tj ET Q q 0 0 0 rg BT 184.81 456.70 Td (al in v) Tj ET Q q 0 0 0 rg BT 208.34 456.70 Td (arious mark) Tj ET Q q 0 0 0 rg BT 256.09 456.70 Td (e) Tj ET Q q 0 0 0 rg BT 261.02 456.70 Td (ts.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 438.70 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 438.70 Td (y has his) Tj ET Q q 0 0 0 rg BT 139.42 438.70 Td (t) Tj ET Q q 0 0 0 rg BT 142.67 438.70 Td (oric) Tj ET Q q 0 0 0 rg BT 157.87 438.70 Td (ally used mortg) Tj ET Q q 0 0 0 rg BT 220.31 438.70 Td (ag) Tj ET Q q 0 0 0 rg BT 229.73 438.70 Td (es and r) Tj ET Q q 0 0 0 rg BT 261.79 438.70 Td (e) Tj ET Q q 0 0 0 rg BT 266.71 438.70 Td (v) Tj ET Q q 0 0 0 rg BT 271.14 438.70 Td (olving cr) Tj ET Q q 0 0 0 rg BT 305.32 438.70 Td (edit f) Tj ET Q q 0 0 0 rg BT 326.31 438.70 Td (acilities, senior unsecur) Tj ET Q q 0 0 0 rg BT 421.19 438.70 Td (ed deben) Tj ET Q q 0 0 0 rg BT 459.30 438.70 Td (tur) Tj ET Q q 0 0 0 rg BT 471.26 438.70 Td (es, c) Tj ET Q q 0 0 0 rg BT 489.05 438.70 Td (on) Tj ET Q q 0 0 0 rg BT 499.41 438.70 Td (v) Tj ET Q q 0 0 0 rg BT 503.83 438.70 Td (ertible ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 426.70 Td (deben) Tj ET Q q 0 0 0 rg BT 79.62 426.70 Td (tur) Tj ET Q q 0 0 0 rg BT 91.58 426.70 Td (es and equity issues t) Tj ET Q q 0 0 0 rg BT 177.97 426.70 Td (o finance its gr) Tj ET Q q 0 0 0 rg BT 237.46 426.70 Td (o) Tj ET Q q 0 0 0 rg BT 242.70 426.70 Td (w) Tj ET Q q 0 0 0 rg BT 249.86 426.70 Td (th and r) Tj ET Q q 0 0 0 rg BT 281.64 426.70 Td (epa) Tj ET Q q 0 0 0 rg BT 296.48 426.70 Td (y deb) Tj ET Q q 0 0 0 rg BT 318.70 426.70 Td (t. The actual le) Tj ET Q q 0 0 0 rg BT 378.39 426.70 Td (v) Tj ET Q q 0 0 0 rg BT 382.81 426.70 Td (el and type of futur) Tj ET Q q 0 0 0 rg BT 461.11 426.70 Td (e borr) Tj ET Q q 0 0 0 rg BT 485.69 426.70 Td (o) Tj ET Q q 0 0 0 rg BT 490.92 426.70 Td (wings will be ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 414.70 Td (de) Tj ET Q q 0 0 0 rg BT 64.18 414.70 Td (t) Tj ET Q q 0 0 0 rg BT 67.42 414.70 Td (ermined based on pr) Tj ET Q q 0 0 0 rg BT 151.75 414.70 Td (e) Tj ET Q q 0 0 0 rg BT 156.68 414.70 Td (v) Tj ET Q q 0 0 0 rg BT 161.05 414.70 Td (ailing in) Tj ET Q q 0 0 0 rg BT 192.40 414.70 Td (t) Tj ET Q q 0 0 0 rg BT 195.64 414.70 Td (er) Tj ET Q q 0 0 0 rg BT 203.97 414.70 Td (es) Tj ET Q q 0 0 0 rg BT 212.75 414.70 Td (t r) Tj ET Q q 0 0 0 rg BT 221.64 414.70 Td (a) Tj ET Q q 0 0 0 rg BT 226.33 414.70 Td (t) Tj ET Q q 0 0 0 rg BT 229.58 414.70 Td (es, v) Tj ET Q q 0 0 0 rg BT 247.59 414.70 Td (arious c) Tj ET Q q 0 0 0 rg BT 279.00 414.70 Td (os) Tj ET Q q 0 0 0 rg BT 288.08 414.70 Td (ts of deb) Tj ET Q q 0 0 0 rg BT 323.62 414.70 Td (t and equity c) Tj ET Q q 0 0 0 rg BT 378.85 414.70 Td (apit) Tj ET Q q 0 0 0 rg BT 394.42 414.70 Td (al, c) Tj ET Q q 0 0 0 rg BT 410.41 414.70 Td (apit) Tj ET Q q 0 0 0 rg BT 425.97 414.70 Td (al mark) Tj ET Q q 0 0 0 rg BT 455.81 414.70 Td (e) Tj ET Q q 0 0 0 rg BT 460.73 414.70 Td (t c) Tj ET Q q 0 0 0 rg BT 470.48 414.70 Td (onditions and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 402.70 Td (Manag) Tj ET Q q 0 0 0 rg BT 82.01 402.70 Td (emen) Tj ET Q q 0 0 0 rg BT 105.11 402.70 Td (t) Tj ET Q q 0 0 0 rg BT 108.80 402.70 Td () Tj ET Q q 0 0 0 rg BT 110.69 402.70 Td (s g) Tj ET Q q 0 0 0 rg BT 121.49 402.70 Td (ener) Tj ET Q q 0 0 0 rg BT 139.97 402.70 Td (al vie) Tj ET Q q 0 0 0 rg BT 161.06 402.70 Td (w of the r) Tj ET Q q 0 0 0 rg BT 200.25 402.70 Td (equir) Tj ET Q q 0 0 0 rg BT 221.38 402.70 Td (ed le) Tj ET Q q 0 0 0 rg BT 241.09 402.70 Td (v) Tj ET Q q 0 0 0 rg BT 245.51 402.70 Td (er) Tj ET Q q 0 0 0 rg BT 253.77 402.70 Td (ag) Tj ET Q q 0 0 0 rg BT 263.18 402.70 Td (e in the business. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 379.30 Td (Cash Flo) Tj ET Q q 0 0 0 rg BT 95.10 379.30 Td (w) Tj ET Q q 0 0 0 rg BT 103.96 379.30 Td (s) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 360.10 Td (Operating Activities) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 345.10 Td (F) Tj ET Q q 0 0 0 rg BT 58.46 345.10 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.32 345.10 Td (thr) Tj ET Q q 0 0 0 rg BT 97.28 345.10 Td (ee mon) Tj ET Q q 0 0 0 rg BT 127.91 345.10 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 187.34 345.10 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 234.25 345.10 Td (, c) Tj ET Q q 0 0 0 rg BT 243.15 345.10 Td (ash pr) Tj ET Q q 0 0 0 rg BT 267.95 345.10 Td (o) Tj ET Q q 0 0 0 rg BT 273.17 345.10 Td (vided b) Tj ET Q q 0 0 0 rg BT 302.94 345.10 Td (y oper) Tj ET Q q 0 0 0 rg BT 328.51 345.10 Td (a) Tj ET Q q 0 0 0 rg BT 333.20 345.10 Td (ting activities decr) Tj ET Q q 0 0 0 rg BT 407.15 345.10 Td (eased primarily due t) Tj ET Q q 0 0 0 rg BT 492.99 345.10 Td (o higher ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 333.10 Td (in) Tj ET Q q 0 0 0 rg BT 61.46 333.10 Td (t) Tj ET Q q 0 0 0 rg BT 64.70 333.10 Td (er) Tj ET Q q 0 0 0 rg BT 73.03 333.10 Td (es) Tj ET Q q 0 0 0 rg BT 81.80 333.10 Td (t paid in c) Tj ET Q q 0 0 0 rg BT 121.22 333.10 Td (ash and lo) Tj ET Q q 0 0 0 rg BT 162.53 333.10 Td (w) Tj ET Q q 0 0 0 rg BT 169.59 333.10 Td (er r) Tj ET Q q 0 0 0 rg BT 183.66 333.10 Td (eceip) Tj ET Q q 0 0 0 rg BT 205.35 333.10 Td (ts of pr) Tj ET Q q 0 0 0 rg BT 234.03 333.10 Td (oceeds fr) Tj ET Q q 0 0 0 rg BT 271.29 333.10 Td (om sales of r) Tj ET Q q 0 0 0 rg BT 322.90 333.10 Td (esiden) Tj ET Q q 0 0 0 rg BT 349.47 333.10 Td (tial in) Tj ET Q q 0 0 0 rg BT 371.84 333.10 Td (v) Tj ET Q q 0 0 0 rg BT 376.26 333.10 Td (en) Tj ET Q q 0 0 0 rg BT 386.40 333.10 Td (t) Tj ET Q q 0 0 0 rg BT 389.65 333.10 Td (or) Tj ET Q q 0 0 0 rg BT 398.46 333.10 Td (y) Tj ET Q q 0 0 0 rg BT 402.27 333.10 Td (, which w) Tj ET Q q 0 0 0 rg BT 440.50 333.10 Td (as partially of) Tj ET Q q 0 0 0 rg BT 495.04 333.10 Td (f) Tj ET Q q 0 0 0 rg BT 497.96 333.10 Td (se) Tj ET Q q 0 0 0 rg BT 506.79 333.10 Td (t b) Tj ET Q q 0 0 0 rg BT 517.60 333.10 Td (y lo) Tj ET Q q 0 0 0 rg BT 531.92 333.10 Td (w) Tj ET Q q 0 0 0 rg BT 538.98 333.10 Td (er ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 321.10 Td (e) Tj ET Q q 0 0 0 rg BT 58.82 321.10 Td (xpenditur) Tj ET Q q 0 0 0 rg BT 98.15 321.10 Td (es on r) Tj ET Q q 0 0 0 rg BT 125.44 321.10 Td (esiden) Tj ET Q q 0 0 0 rg BT 152.01 321.10 Td (tial de) Tj ET Q q 0 0 0 rg BT 177.18 321.10 Td (v) Tj ET Q q 0 0 0 rg BT 181.60 321.10 Td (elopmen) Tj ET Q q 0 0 0 rg BT 217.52 321.10 Td (t in) Tj ET Q q 0 0 0 rg BT 230.51 321.10 Td (v) Tj ET Q q 0 0 0 rg BT 234.93 321.10 Td (en) Tj ET Q q 0 0 0 rg BT 245.07 321.10 Td (t) Tj ET Q q 0 0 0 rg BT 248.32 321.10 Td (or) Tj ET Q q 0 0 0 rg BT 257.13 321.10 Td (y) Tj ET Q q 0 0 0 rg BT 261.00 321.10 Td (.) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 301.90 Td (Financing Activities) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 286.90 Td (F) Tj ET Q q 0 0 0 rg BT 58.46 286.90 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.32 286.90 Td (thr) Tj ET Q q 0 0 0 rg BT 97.28 286.90 Td (ee mon) Tj ET Q q 0 0 0 rg BT 127.91 286.90 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 187.34 286.90 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 234.25 286.90 Td (, financing activities decr) Tj ET Q q 0 0 0 rg BT 334.47 286.90 Td (eased primarily as a r) Tj ET Q q 0 0 0 rg BT 420.68 286.90 Td (esult of lo) Tj ET Q q 0 0 0 rg BT 460.85 286.90 Td (w) Tj ET Q q 0 0 0 rg BT 467.91 286.90 Td (er ne) Tj ET Q q 0 0 0 rg BT 488.80 286.90 Td (t deb) Tj ET Q q 0 0 0 rg BT 509.85 286.90 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 274.95 Td (issuances partially of) Tj ET Q q 0 0 0 rg BT 138.36 274.95 Td (f) Tj ET Q q 0 0 0 rg BT 141.28 274.95 Td (se) Tj ET Q q 0 0 0 rg BT 150.11 274.95 Td (t b) Tj ET Q q 0 0 0 rg BT 160.93 274.95 Td (y the issuance of c) Tj ET Q q 0 0 0 rg BT 235.17 274.95 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 286.51 274.95 Td (es as c) Tj ET Q q 0 0 0 rg BT 312.77 274.95 Td (ompar) Tj ET Q q 0 0 0 rg BT 339.43 274.95 Td (ed t) Tj ET Q q 0 0 0 rg BT 355.17 274.95 Td (o the same prior y) Tj ET Q q 0 0 0 rg BT 428.93 274.95 Td (ear period. These activities ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 262.95 Td (ar) Tj ET Q q 0 0 0 rg BT 62.14 262.95 Td (e mor) Tj ET Q q 0 0 0 rg BT 86.00 262.95 Td (e fully described in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 180.46 262.95 Td (Capit) Tj ET Q q 0 0 0 rg BT 205.54 262.95 Td (al Structur) Tj ET Q q 0 0 0 rg BT 247.76 262.95 Td (e and Liquidity) Tj ET Q q 0 0 0 rg BT 307.58 262.95 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 311.77 262.95 Td ( section of this MD&A) Tj ET Q q 0 0 0 rg BT 400.60 262.95 Td (.) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 54.00 243.70 Td (In) Tj ET Q q 0 0 0 rg BT 62.57 243.70 Td (ves) Tj ET Q q 0 0 0 rg BT 77.34 243.70 Td (ting Activities) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 228.70 Td (F) Tj ET Q q 0 0 0 rg BT 58.46 228.70 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.32 228.70 Td (thr) Tj ET Q q 0 0 0 rg BT 97.28 228.70 Td (ee mon) Tj ET Q q 0 0 0 rg BT 127.91 228.70 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 187.34 228.70 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 234.25 228.70 Td (, c) Tj ET Q q 0 0 0 rg BT 243.15 228.70 Td (ash used in in) Tj ET Q q 0 0 0 rg BT 298.21 228.70 Td (v) Tj ET Q q 0 0 0 rg BT 302.63 228.70 Td (es) Tj ET Q q 0 0 0 rg BT 311.41 228.70 Td (ting activities decr) Tj ET Q q 0 0 0 rg BT 385.35 228.70 Td (eased primarily as a r) Tj ET Q q 0 0 0 rg BT 471.56 228.70 Td (esult of lo) Tj ET Q q 0 0 0 rg BT 511.72 228.70 Td (w) Tj ET Q q 0 0 0 rg BT 518.79 228.70 Td (er ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 216.70 Td (spending on acquisitions and higher ne) Tj ET Q q 0 0 0 rg BT 212.29 216.70 Td (t pr) Tj ET Q q 0 0 0 rg BT 226.48 216.70 Td (oceeds fr) Tj ET Q q 0 0 0 rg BT 263.74 216.70 Td (om pr) Tj ET Q q 0 0 0 rg BT 287.84 216.70 Td (operty dispositions. De) Tj ET Q q 0 0 0 rg BT 381.10 216.70 Td (t) Tj ET Q q 0 0 0 rg BT 384.33 216.70 Td (ails of the Compan) Tj ET Q q 0 0 0 rg BT 460.01 216.70 Td (y) Tj ET Q q 0 0 0 rg BT 464.84 216.70 Td () Tj ET Q q 0 0 0 rg BT 466.72 216.70 Td (s in) Tj ET Q q 0 0 0 rg BT 480.28 216.70 Td (v) Tj ET Q q 0 0 0 rg BT 484.70 216.70 Td (es) Tj ET Q q 0 0 0 rg BT 493.47 216.70 Td (tmen) Tj ET Q q 0 0 0 rg BT 514.95 216.70 Td (ts in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 204.70 Td (acquisitions and de) Tj ET Q q 0 0 0 rg BT 132.11 204.70 Td (v) Tj ET Q q 0 0 0 rg BT 136.53 204.70 Td (elopmen) Tj ET Q q 0 0 0 rg BT 172.45 204.70 Td (ts ar) Tj ET Q q 0 0 0 rg BT 190.12 204.70 Td (e pr) Tj ET Q q 0 0 0 rg BT 205.93 204.70 Td (o) Tj ET Q q 0 0 0 rg BT 211.16 204.70 Td (vided in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 261.37 204.70 Td (Business and Oper) Tj ET Q q 0 0 0 rg BT 340.46 204.70 Td (a) Tj ET Q q 0 0 0 rg BT 345.15 204.70 Td (tions R) Tj ET Q q 0 0 0 rg BT 372.75 204.70 Td (e) Tj ET 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167.20000000000005 m 464.5 167.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451.5 154.20000000000005 m 464.5 154.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 464.5 167.20000000000005 m 549.5 167.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 464.5 154.20000000000005 m 549.5 154.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 115.20000000000005 m 366.5 115.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 100.20000000000005 m 366.5 100.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366.5 115.20000000000005 m 451.5 115.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 100.20000000000005 m 451.5 100.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451.5 115.20000000000005 m 464.5 115.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 100.20000000000005 m 464.5 100.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 464.5 115.20000000000005 m 549.5 115.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464.5 100.20000000000005 m 549.5 100.20000000000005 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 433.10 171.95 Td (Three months ended March 31) Tj ET Q BT /F4 8.50 Tf ET q 0 0 0 rg BT 57.00 157.33 Td (\(thousands of dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 431.75 158.70 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 529.75 158.70 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 144.95 Td (Cash provided by operating activities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 369.00 144.95 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 423.00 144.95 Td (37,648) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 467.00 144.95 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.15 144.95 Td (70,131) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 131.95 Td (Cash provided by financing activities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 423.00 131.95 Td (65,458) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.60 131.95 Td (137,296) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 118.95 Td (Cash ) Tj ET Q q 0 0 0 rg BT 76.39 118.95 Td (used ) Tj ET Q q 0 0 0 rg BT 95.88 118.95 Td (in ) Tj ET Q q 0 0 0 rg BT 104.71 118.95 Td (in) Tj ET Q q 0 0 0 rg BT 111.36 118.95 Td (v) Tj ET Q q 0 0 0 rg BT 115.33 118.95 Td (es) Tj ET Q q 0 0 0 rg BT 123.23 118.95 Td (ting ) Tj ET Q q 0 0 0 rg BT 139.31 118.95 Td (activities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 420.20 118.95 Td (\(96,733) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 448.15 118.95 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 513.90 118.95 Td (\(119,272) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.25 118.95 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 104.95 Td (Net change in cash and cash equivalents) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 369.00 104.95 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 427.55 104.95 Td (6,373) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 467.00 104.95 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.15 104.95 Td (88,155) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 103 0 obj <> endobj 104 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (50) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 694.50 Td (Adjus) Tj ET Q q 0 0 0 rg BT 76.49 694.50 Td (t) Tj ET Q q 0 0 0 rg BT 79.73 694.50 Td (ed c) Tj ET Q q 0 0 0 rg BT 96.36 694.50 Td (ash flo) Tj ET Q q 0 0 0 rg BT 123.16 694.50 Td (w fr) Tj ET Q q 0 0 0 rg BT 138.95 694.50 Td (om oper) Tj ET Q q 0 0 0 rg BT 173.25 694.50 Td (a) Tj ET Q q 0 0 0 rg BT 177.95 694.50 Td (ting activities is not a measur) Tj ET Q q 0 0 0 rg BT 296.01 694.50 Td (e de) Tj ET Q q 0 0 0 rg BT 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0.20392156862745098 0.20784313725490197 rg BT 54.00 544.10 Td (Con) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 73.13 544.10 Td (tr) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 81.29 544.10 Td (actual Oblig) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 140.36 544.10 Td (a) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 146.17 544.10 Td (tions) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 533.6 m 280.5 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 533.6 m 335.5 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 533.6 m 390.5 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 533.6 m 445.5 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 533.6 m 500.5 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 533.6 m 555.5 533.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 520.6 m 280.5 520.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 499.6 m 280.5 499.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 280.5 520.6 m 335.5 520.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 280.5 499.6 m 335.5 499.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 335.5 520.6 m 390.5 520.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 335.5 499.6 m 390.5 499.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 520.6 m 445.5 520.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 499.6 m 445.5 499.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 520.6 m 500.5 520.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 499.6 m 500.5 499.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 520.6 m 555.5 520.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 499.6 m 555.5 499.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 460.6 m 280.5 460.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 280.5 460.6 m 335.5 460.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 335.5 460.6 m 390.5 460.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 460.6 m 445.5 460.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 460.6 m 500.5 460.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 460.6 m 555.5 460.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 358.6 m 280.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 343.6 m 280.5 343.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 280.5 358.6 m 335.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 343.6 m 335.5 343.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 335.5 358.6 m 390.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 343.6 m 390.5 343.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 358.6 m 445.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 343.6 m 445.5 343.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 358.6 m 500.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 343.6 m 500.5 343.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 358.6 m 555.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 343.6 m 555.5 343.6 l s BT /F3 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 378.05 525.10 Td (Payments Due by Period) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 59.00 504.10 Td (\(thousands of dollars\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 288.10 512.10 Td (Remainder of) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 315.75 504.10 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 344.10 504.10 Td (2016 to 2017) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 399.10 504.10 Td (2018 to 2019) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 462.65 504.10 Td (Thereafter) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 536.30 504.10 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 490.35 Td (Mortgages) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 478.35 Td (Scheduled amortization) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 283.00 477.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 307.15 477.35 Td (21,778) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.00 477.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 362.15 477.35 Td (46,209) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 393.00 477.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.15 477.35 Td (32,510) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 448.00 477.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.15 477.35 Td (36,830) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 477.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.60 477.35 Td (137,327) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 465.35 Td (Payments on maturity) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 302.60 464.35 Td (142,658) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 357.60 464.35 Td (248,220) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 412.60 464.35 Td (229,759) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 467.60 464.35 Td (329,481) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.60 464.35 Td (950,118) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 450.35 Td (Total mortgage obligations) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 302.60 451.35 Td (164,436) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 357.60 451.35 Td (294,429) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 412.60 451.35 Td (262,269) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 467.60 451.35 Td (366,311) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 515.80 451.35 Td (1,087,445) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 437.35 Td (Mortgage on equity accounted joint ventures) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 307.15 438.35 Td (10,313) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 379.10 438.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 421.75 438.35 Td (2,752) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 489.10 438.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.15 438.35 Td (13,065) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 424.35 Td (Senior unsecured debentures) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 324.10 425.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 357.60 425.35 Td (250,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 412.60 425.35 Td (300,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.80 425.35 Td (1,700,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 515.80 425.35 Td (2,250,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 412.35 Td ( In) Tj ET Q q 0 0 0 rg BT 65.95 412.35 Td (t) Tj ET Q q 0 0 0 rg BT 68.87 412.35 Td (er) Tj ET Q q 0 0 0 rg BT 76.36 412.35 Td (es) Tj ET Q q 0 0 0 rg BT 84.26 412.35 Td (t oblig) Tj ET Q q 0 0 0 rg BT 106.98 412.35 Td (a) Tj ET Q q 0 0 0 rg BT 111.21 412.35 Td (tions ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 131.32 416.16 Td (\(1\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 302.60 412.35 Td (117,555) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 357.60 412.35 Td (280,935) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 412.60 412.35 Td (217,409) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 467.60 412.35 Td (280,512) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.60 412.35 Td (896,411) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 398.35 Td (Land leases \(expiring between 2023 and 2061\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 318.55 399.35 Td (726) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.75 399.35 Td (1,962) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 421.75 399.35 Td (1,989) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.15 399.35 Td (17,302) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.15 399.35 Td (21,979) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 386.35 Td ( Contractual committed costs to complete current) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 70.50 377.35 Td (development projects) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 307.15 386.35 Td (90,579) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 362.15 386.35 Td (11,498) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.10 386.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 489.10 386.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.60 386.35 Td (102,077) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 363.35 Td (Other committed costs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 307.15 363.35 Td (39,462) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 362.15 363.35 Td (51,275) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.10 363.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 489.10 363.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.15 363.35 Td (90,737) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 348.35 Td (T) Tj ET Q q 0 0 0 rg BT 62.59 348.35 Td (ot) Tj ET Q q 0 0 0 rg BT 70.24 348.35 Td (al c) Tj ET Q q 0 0 0 rg BT 82.38 348.35 Td (on) Tj ET Q q 0 0 0 rg BT 91.77 348.35 Td (tr) Tj ET Q q 0 0 0 rg BT 97.74 348.35 Td (actual oblig) Tj ET Q q 0 0 0 rg BT 139.68 348.35 Td (a) Tj ET Q q 0 0 0 rg BT 143.91 348.35 Td (tions ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 164.02 352.16 Td (\(2\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 283.00 348.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 302.60 348.35 Td (423,071) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.00 348.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 357.60 348.35 Td (890,099) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 393.00 348.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 412.60 348.35 Td (784,419) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 448.00 348.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.80 348.35 Td (2,364,125) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 348.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 515.80 348.35 Td (4,461,714) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 336.04 Td (\(1\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 332.70 Td (In) Tj ET Q q 0 0 0 rg BT 68.38 332.70 Td (t) Tj ET Q q 0 0 0 rg BT 70.65 332.70 Td (er) Tj ET Q q 0 0 0 rg BT 76.48 332.70 Td (es) Tj ET Q q 0 0 0 rg BT 82.62 332.70 Td (t oblig) Tj ET Q q 0 0 0 rg BT 100.29 332.70 Td (a) Tj ET Q q 0 0 0 rg BT 103.58 332.70 Td (tions include e) Tj ET Q q 0 0 0 rg BT 144.87 332.70 Td (xpect) Tj ET Q q 0 0 0 rg BT 160.29 332.70 Td (ed in) Tj ET Q q 0 0 0 rg BT 174.25 332.70 Td (t) Tj ET Q q 0 0 0 rg BT 176.52 332.70 Td (er) Tj ET Q q 0 0 0 rg BT 182.36 332.70 Td (es) Tj ET Q q 0 0 0 rg BT 188.50 332.70 Td (t pa) Tj ET Q q 0 0 0 rg BT 199.33 332.70 Td (ymen) Tj ET Q q 0 0 0 rg BT 215.18 332.70 Td (ts on mortg) Tj ET Q q 0 0 0 rg BT 248.03 332.70 Td (ag) Tj ET Q q 0 0 0 rg BT 254.62 332.70 Td (es and cr) Tj ET Q q 0 0 0 rg BT 280.02 332.70 Td (edit f) Tj ET Q q 0 0 0 rg BT 294.72 332.70 Td (acilities as a) Tj ET Q q 0 0 0 rg BT 328.57 332.70 Td (t ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 332.49 332.70 Td (Mar) Tj ET Q q 0 0 0 rg BT 344.17 332.70 Td (ch31, 2015) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 377.01 332.70 Td ( \(assuming balances r) Tj ET Q q 0 0 0 rg BT 437.75 332.70 Td (emain outs) Tj ET Q q 0 0 0 rg BT 469.42 332.70 Td (t) Tj ET Q q 0 0 0 rg BT 471.68 332.70 Td (anding thr) Tj ET Q q 0 0 0 rg BT 500.90 332.70 Td (ough t) Tj ET Q q 0 0 0 rg BT 519.10 332.70 Td (o ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 324.35 Td (ma) Tj ET Q q 0 0 0 rg BT 71.88 324.35 Td (turity\) and senior unsecur) Tj ET Q q 0 0 0 rg BT 145.24 324.35 Td (ed deben) Tj ET Q q 0 0 0 rg BT 171.92 324.35 Td (tur) Tj ET Q q 0 0 0 rg BT 180.29 324.35 Td (es, as w) Tj ET Q q 0 0 0 rg BT 202.45 324.35 Td (ell as s) Tj ET Q q 0 0 0 rg BT 221.06 324.35 Td (t) Tj ET Q q 0 0 0 rg BT 223.32 324.35 Td (andb) Tj ET Q q 0 0 0 rg BT 237.68 324.35 Td (y cr) Tj ET Q q 0 0 0 rg BT 247.73 324.35 Td (edit f) Tj ET Q q 0 0 0 rg BT 262.43 324.35 Td (acility f) Tj ET Q q 0 0 0 rg BT 282.62 324.35 Td (ees.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 316.29 Td (\(2\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 312.95 Td (It is the Compan) Tj ET Q q 0 0 0 rg BT 109.30 312.95 Td (y) Tj ET Q q 0 0 0 rg BT 112.68 312.95 Td () Tj ET Q q 0 0 0 rg BT 114.00 312.95 Td (s curr) Tj ET Q q 0 0 0 rg BT 129.75 312.95 Td (en) Tj ET Q q 0 0 0 rg BT 136.84 312.95 Td (t in) Tj ET Q q 0 0 0 rg BT 145.99 312.95 Td (t) Tj ET Q q 0 0 0 rg BT 148.26 312.95 Td (en) Tj ET Q q 0 0 0 rg BT 155.35 312.95 Td (tion t) Tj ET Q q 0 0 0 rg BT 170.53 312.95 Td (o c) Tj ET Q q 0 0 0 rg BT 178.71 312.95 Td (on) Tj ET Q q 0 0 0 rg BT 186.01 312.95 Td (tinue t) Tj ET Q q 0 0 0 rg BT 204.66 312.95 Td (o sa) Tj ET Q q 0 0 0 rg BT 215.96 312.95 Td (tis) Tj ET Q q 0 0 0 rg BT 222.58 312.95 Td (f) Tj ET Q q 0 0 0 rg BT 224.76 312.95 Td (y its oblig) Tj ET Q q 0 0 0 rg BT 251.52 312.95 Td (a) Tj ET Q q 0 0 0 rg BT 254.81 312.95 Td (tions of principal and in) Tj ET Q q 0 0 0 rg BT 321.56 312.95 Td (t) Tj ET Q q 0 0 0 rg BT 323.83 312.95 Td (er) Tj ET Q q 0 0 0 rg BT 329.66 312.95 Td (es) Tj ET Q q 0 0 0 rg BT 335.81 312.95 Td (t pa) Tj ET Q q 0 0 0 rg BT 346.63 312.95 Td (ymen) Tj ET Q q 0 0 0 rg BT 362.49 312.95 Td (ts in r) Tj ET Q q 0 0 0 rg BT 378.37 312.95 Td (espect of all of its outs) Tj ET Q q 0 0 0 rg BT 442.25 312.95 Td (t) Tj ET Q q 0 0 0 rg BT 444.51 312.95 Td (anding c) Tj ET Q q 0 0 0 rg BT 468.28 312.95 Td (on) Tj ET Q q 0 0 0 rg BT 475.54 312.95 Td (v) Tj ET Q q 0 0 0 rg BT 478.63 312.95 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 516.79 312.95 Td (tur) Tj ET Q q 0 0 0 rg BT 525.16 312.95 Td (es b) Tj ET Q q 0 0 0 rg BT 536.60 312.95 Td (y ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 304.55 Td (the issuance of c) Tj ET Q q 0 0 0 rg BT 110.22 304.55 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 146.16 304.55 Td (es and, as such, c) Tj ET Q q 0 0 0 rg BT 194.96 304.55 Td (on) Tj ET Q q 0 0 0 rg BT 202.21 304.55 Td (v) Tj ET Q q 0 0 0 rg BT 205.30 304.55 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 243.46 304.55 Td (tur) Tj ET Q q 0 0 0 rg BT 251.83 304.55 Td (es ha) Tj ET Q q 0 0 0 rg BT 266.55 304.55 Td (v) Tj ET Q q 0 0 0 rg BT 269.64 304.55 Td (e been e) Tj ET Q q 0 0 0 rg BT 293.99 304.55 Td (x) Tj ET Q q 0 0 0 rg BT 296.86 304.55 Td (cluded fr) Tj ET Q q 0 0 0 rg BT 321.99 304.55 Td (om this t) Tj ET Q q 0 0 0 rg BT 347.07 304.55 Td (able.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 286.55 Td (In addition, the Compan) Tj ET Q q 0 0 0 rg BT 152.10 286.55 Td (y has ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 175.10 286.55 Td ($42.1 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 227.86 286.55 Td ( of outs) Tj ET Q q 0 0 0 rg BT 258.38 286.55 Td (t) Tj ET Q q 0 0 0 rg BT 261.61 286.55 Td (anding le) Tj ET Q q 0 0 0 rg BT 298.64 286.55 Td (t) Tj ET Q q 0 0 0 rg BT 301.85 286.55 Td (t) Tj ET Q q 0 0 0 rg BT 305.09 286.55 Td (er) Tj ET Q q 0 0 0 rg BT 313.38 286.55 Td (s of cr) Tj ET Q q 0 0 0 rg BT 337.72 286.55 Td (edit issued b) Tj ET Q q 0 0 0 rg BT 388.92 286.55 Td (y financial ins) Tj ET Q q 0 0 0 rg BT 443.57 286.55 Td (titutions primarily t) Tj ET Q q 0 0 0 rg BT 522.09 286.55 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 274.55 Td (support cert) Tj ET Q q 0 0 0 rg BT 103.96 274.55 Td (ain of the Compan) Tj ET Q q 0 0 0 rg BT 178.69 274.55 Td (y) Tj ET Q q 0 0 0 rg BT 183.52 274.55 Td () Tj ET Q q 0 0 0 rg BT 185.41 274.55 Td (s oblig) Tj ET Q q 0 0 0 rg BT 211.22 274.55 Td (a) Tj ET Q q 0 0 0 rg BT 215.91 274.55 Td (tions r) Tj ET Q q 0 0 0 rg BT 241.61 274.55 Td (ela) Tj ET Q q 0 0 0 rg BT 253.58 274.55 Td (t) Tj ET Q q 0 0 0 rg BT 256.82 274.55 Td (ed t) Tj ET Q q 0 0 0 rg BT 272.56 274.55 Td (o its de) Tj ET Q q 0 0 0 rg BT 302.10 274.55 Td (v) Tj ET Q q 0 0 0 rg BT 306.51 274.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 342.44 274.55 Td (t pr) Tj ET Q q 0 0 0 rg BT 356.63 274.55 Td (ojects.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 256.55 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 256.55 Td (y) Tj ET Q q 0 0 0 rg BT 109.90 256.55 Td () Tj ET Q q 0 0 0 rg BT 111.78 256.55 Td (s es) Tj ET Q q 0 0 0 rg BT 126.73 256.55 Td (tima) Tj ET Q q 0 0 0 rg BT 145.06 256.55 Td (t) Tj ET Q q 0 0 0 rg BT 148.30 256.55 Td (ed c) Tj ET Q q 0 0 0 rg BT 164.94 256.55 Td (os) Tj ET Q q 0 0 0 rg BT 174.01 256.55 Td (t t) Tj ET Q q 0 0 0 rg BT 182.87 256.55 Td (o c) Tj ET Q q 0 0 0 rg BT 194.55 256.55 Td (omple) Tj ET Q q 0 0 0 rg BT 220.28 256.55 Td (t) Tj ET Q q 0 0 0 rg BT 223.53 256.55 Td (e pr) Tj ET Q q 0 0 0 rg BT 239.34 256.55 Td (operties curr) Tj ET Q q 0 0 0 rg BT 291.45 256.55 Td (en) Tj ET Q q 0 0 0 rg BT 301.58 256.55 Td (tly under de) Tj ET Q q 0 0 0 rg BT 350.68 256.55 Td (v) Tj ET Q q 0 0 0 rg BT 355.10 256.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 391.02 256.55 Td (t is ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 405.10 256.55 Td ($267.6 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 462.92 256.55 Td (, of which ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 244.55 Td ($102.1 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 111.82 244.55 Td ( is c) Tj ET Q q 0 0 0 rg BT 126.70 244.55 Td (on) Tj ET Q q 0 0 0 rg BT 137.13 244.55 Td (tr) Tj ET Q q 0 0 0 rg BT 143.76 244.55 Td (actually c) Tj ET Q q 0 0 0 rg BT 181.70 244.55 Td (ommit) Tj ET Q q 0 0 0 rg BT 208.45 244.55 Td (t) Tj ET Q q 0 0 0 rg BT 211.69 244.55 Td (ed. The balance of the c) Tj ET Q q 0 0 0 rg BT 308.49 244.55 Td (os) Tj ET Q q 0 0 0 rg BT 317.56 244.55 Td (ts t) Tj ET Q q 0 0 0 rg BT 330.33 244.55 Td (o c) Tj ET Q q 0 0 0 rg BT 342.01 244.55 Td (omple) Tj ET Q q 0 0 0 rg BT 367.75 244.55 Td (t) Tj ET Q q 0 0 0 rg BT 370.99 244.55 Td (e will only be c) Tj ET Q q 0 0 0 rg BT 430.76 244.55 Td (ommit) Tj ET Q q 0 0 0 rg BT 457.52 244.55 Td (t) Tj ET Q q 0 0 0 rg BT 460.76 244.55 Td (ed once leases ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 232.55 Td (ar) Tj ET Q q 0 0 0 rg BT 62.14 232.55 Td (e signed and/) Tj ET Q q 0 0 0 rg BT 117.03 232.55 Td (or c) Tj ET Q q 0 0 0 rg BT 132.19 232.55 Td (ons) Tj ET Q q 0 0 0 rg BT 146.52 232.55 Td (truction activities ar) Tj ET Q q 0 0 0 rg BT 227.68 232.55 Td (e under) Tj ET Q q 0 0 0 rg BT 259.20 232.55 Td (w) Tj ET Q q 0 0 0 rg BT 266.23 232.55 Td (a) Tj ET Q q 0 0 0 rg BT 270.84 232.55 Td (y) Tj ET Q q 0 0 0 rg BT 274.70 232.55 Td (. These c) Tj ET Q q 0 0 0 rg BT 309.88 232.55 Td (on) Tj ET Q q 0 0 0 rg BT 320.32 232.55 Td (tr) Tj ET Q q 0 0 0 rg BT 326.95 232.55 Td (actual and pot) Tj ET Q q 0 0 0 rg BT 385.25 232.55 Td (en) Tj ET Q q 0 0 0 rg BT 395.38 232.55 Td (tial oblig) Tj ET Q q 0 0 0 rg BT 430.01 232.55 Td (a) Tj ET Q q 0 0 0 rg BT 434.71 232.55 Td (tions primarily ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 220.55 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 220.55 Td (onsis) Tj ET Q q 0 0 0 rg BT 78.68 220.55 Td (t of c) Tj ET Q q 0 0 0 rg BT 99.02 220.55 Td (ons) Tj ET Q q 0 0 0 rg BT 113.35 220.55 Td (truction c) Tj ET Q q 0 0 0 rg BT 152.24 220.55 Td (on) Tj ET Q q 0 0 0 rg BT 162.68 220.55 Td (tr) Tj ET Q q 0 0 0 rg BT 169.31 220.55 Td (acts and additional planned de) Tj ET Q q 0 0 0 rg BT 294.03 220.55 Td (v) Tj ET Q q 0 0 0 rg BT 298.45 220.55 Td (elopmen) Tj ET Q q 0 0 0 rg BT 334.38 220.55 Td (t e) Tj ET Q q 0 0 0 rg BT 344.81 220.55 Td (xpenditur) Tj ET Q q 0 0 0 rg BT 384.13 220.55 Td (es and ar) Tj ET Q q 0 0 0 rg BT 420.98 220.55 Td (e e) Tj ET Q q 0 0 0 rg BT 433.04 220.55 Td (xpect) Tj ET Q q 0 0 0 rg BT 455.07 220.55 Td (ed t) Tj ET Q q 0 0 0 rg BT 470.82 220.55 Td (o be funded ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 208.55 Td (in the normal c) Tj ET Q q 0 0 0 rg BT 115.14 208.55 Td (our) Tj ET Q q 0 0 0 rg BT 128.99 208.55 Td (se as the w) Tj ET Q q 0 0 0 rg BT 173.99 208.55 Td (ork is c) Tj ET Q q 0 0 0 rg BT 202.17 208.55 Td (omple) Tj ET Q q 0 0 0 rg BT 227.90 208.55 Td (t) Tj ET Q q 0 0 0 rg BT 231.14 208.55 Td (ed.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 185.15 Td (Con) Tj ET Q q 0 0 0 rg BT 73.13 185.15 Td (ting) Tj ET Q q 0 0 0 rg BT 92.24 185.15 Td (encies) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 170.15 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 170.15 Td (y is in) Tj ET Q q 0 0 0 rg BT 127.71 170.15 Td (v) Tj ET Q q 0 0 0 rg BT 132.13 170.15 Td (olv) Tj ET Q q 0 0 0 rg BT 144.12 170.15 Td (ed in litig) Tj ET Q q 0 0 0 rg BT 181.17 170.15 Td (a) Tj ET Q q 0 0 0 rg BT 185.87 170.15 Td (tion and claims which arise fr) Tj ET Q q 0 0 0 rg BT 304.17 170.15 Td (om time t) Tj ET Q q 0 0 0 rg BT 343.81 170.15 Td (o time in the normal c) Tj ET Q q 0 0 0 rg BT 433.36 170.15 Td (our) Tj ET Q q 0 0 0 rg BT 447.20 170.15 Td (se of business. In the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 158.15 Td (opinion of Manag) Tj ET Q q 0 0 0 rg BT 125.75 158.15 Td (emen) Tj ET Q q 0 0 0 rg BT 148.85 158.15 Td (t, none of these c) Tj ET Q q 0 0 0 rg BT 219.43 158.15 Td (on) Tj ET Q q 0 0 0 rg BT 229.87 158.15 Td (ting) Tj ET Q q 0 0 0 rg BT 245.39 158.15 Td (encies, individually or in the ag) Tj ET Q q 0 0 0 rg BT 370.63 158.15 Td (gr) Tj ET Q q 0 0 0 rg BT 378.69 158.15 Td (eg) Tj ET Q q 0 0 0 rg BT 388.19 158.15 Td (a) Tj ET Q q 0 0 0 rg BT 392.89 158.15 Td (t) Tj ET Q q 0 0 0 rg BT 396.13 158.15 Td (e, w) Tj ET Q q 0 0 0 rg BT 412.92 158.15 Td (ould r) Tj ET Q q 0 0 0 rg BT 436.61 158.15 Td (esult in a liability tha) Tj ET Q q 0 0 0 rg BT 520.47 158.15 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 146.15 Td (w) Tj ET Q q 0 0 0 rg BT 61.06 146.15 Td (ould ha) Tj ET Q q 0 0 0 rg BT 91.27 146.15 Td (v) Tj ET Q q 0 0 0 rg BT 95.69 146.15 Td (e a ma) Tj ET Q q 0 0 0 rg BT 122.66 146.15 Td (t) Tj ET Q q 0 0 0 rg BT 125.90 146.15 Td (erial adv) Tj ET Q q 0 0 0 rg BT 160.47 146.15 Td (er) Tj ET Q q 0 0 0 rg BT 168.76 146.15 Td (se e) Tj ET Q q 0 0 0 rg BT 184.80 146.15 Td (f) Tj ET Q q 0 0 0 rg BT 187.75 146.15 Td (f) Tj ET Q q 0 0 0 rg BT 190.55 146.15 Td (ect on the financial position of the Compan) Tj ET Q q 0 0 0 rg BT 365.81 146.15 Td (y) Tj ET Q q 0 0 0 rg BT 369.67 146.15 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 128.15 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 128.15 Td (y is c) Tj ET Q q 0 0 0 rg BT 124.47 128.15 Td (on) Tj ET Q q 0 0 0 rg BT 134.90 128.15 Td (ting) Tj ET Q q 0 0 0 rg BT 150.43 128.15 Td (en) Tj ET Q q 0 0 0 rg BT 160.56 128.15 Td (tly liable, join) Tj ET Q q 0 0 0 rg BT 214.78 128.15 Td (tly and se) Tj ET Q q 0 0 0 rg BT 253.60 128.15 Td (v) Tj ET Q q 0 0 0 rg BT 258.02 128.15 Td (er) Tj ET Q q 0 0 0 rg BT 266.28 128.15 Td (ally) Tj ET Q q 0 0 0 rg BT 279.47 128.15 Td (, f) Tj ET Q q 0 0 0 rg BT 287.07 128.15 Td (or appr) Tj ET Q q 0 0 0 rg BT 316.71 128.15 Td (o) Tj ET Q q 0 0 0 rg BT 321.79 128.15 Td (xima) Tj ET Q q 0 0 0 rg BT 341.10 128.15 Td (t) Tj ET Q q 0 0 0 rg BT 344.35 128.15 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 358.40 128.15 Td ($67.7 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 411.16 128.15 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 416.45 128.15 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 495.91 128.15 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 116.15 Td ($68.2 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 106.75 116.15 Td (\) t) Tj ET Q q 0 0 0 rg BT 115.30 116.15 Td (o v) Tj ET Q q 0 0 0 rg BT 127.20 116.15 Td (arious lender) Tj ET Q q 0 0 0 rg BT 180.54 116.15 Td (s in c) Tj ET Q q 0 0 0 rg BT 200.67 116.15 Td (onnection with cert) Tj ET Q q 0 0 0 rg BT 280.31 116.15 Td (ain oblig) Tj ET Q q 0 0 0 rg BT 314.55 116.15 Td (a) Tj ET Q q 0 0 0 rg BT 319.25 116.15 Td (tions, including loans adv) Tj ET Q q 0 0 0 rg BT 421.38 116.15 Td (anced t) Tj ET Q q 0 0 0 rg BT 451.40 116.15 Td (o its partner) Tj ET Q q 0 0 0 rg BT 501.17 116.15 Td (s ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 104.15 Td (secur) Tj ET Q q 0 0 0 rg BT 75.72 104.15 Td (ed b) Tj ET Q q 0 0 0 rg BT 93.42 104.15 Td (y the partner) Tj ET Q q 0 0 0 rg BT 146.47 104.15 Td (s in) Tj ET Q q 0 0 0 rg BT 162.59 104.15 Td (t) Tj ET Q q 0 0 0 rg BT 165.84 104.15 Td (er) Tj ET Q q 0 0 0 rg BT 174.17 104.15 Td (es) Tj ET Q q 0 0 0 rg BT 182.94 104.15 Td (t in the en) Tj ET Q q 0 0 0 rg BT 224.34 104.15 Td (tity and underlying asse) Tj ET Q q 0 0 0 rg BT 320.77 104.15 Td (ts. ) Tj ET Q endstream endobj 105 0 obj <> endobj 106 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 741.50 Td (MANA) Tj ET Q q 0 0 0 rg BT 79.59 741.50 Td (GEMENT) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 112.52 741.50 Td () Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.84 741.50 Td (S DISCUSSION AND ANAL) Tj ET Q q 0 0 0 rg BT 207.99 741.50 Td (Y) Tj ET Q q 0 0 0 rg BT 212.54 741.50 Td (SIS c) Tj ET Q q 0 0 0 rg BT 235.72 741.50 Td (on) Tj ET Q q 0 0 0 rg BT 245.30 741.50 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (51) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 691.50 Td (DIVIDENDS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 676.50 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 676.50 Td (y has paid r) Tj ET Q q 0 0 0 rg BT 151.28 676.50 Td (egular quart) Tj ET Q q 0 0 0 rg BT 201.08 676.50 Td (erly dividends t) Tj ET Q q 0 0 0 rg BT 263.14 676.50 Td (o c) Tj ET Q q 0 0 0 rg BT 274.82 676.50 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 326.17 676.50 Td (eholder) Tj ET Q q 0 0 0 rg BT 357.51 676.50 Td (s since it c) Tj ET Q q 0 0 0 rg BT 398.66 676.50 Td (ommenced oper) Tj ET Q q 0 0 0 rg BT 465.64 676.50 Td (a) Tj ET Q q 0 0 0 rg BT 470.34 676.50 Td (tions as a public ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 664.50 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 664.50 Td (ompan) Tj ET Q q 0 0 0 rg BT 86.52 664.50 Td (y in 1994. Dividends on the c) Tj ET Q q 0 0 0 rg BT 203.12 664.50 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 254.46 664.50 Td (es, if an) Tj ET Q q 0 0 0 rg BT 285.57 664.50 Td (y) Tj ET Q q 0 0 0 rg BT 289.39 664.50 Td (, tha) Tj ET Q q 0 0 0 rg BT 307.44 664.50 Td (t ar) Tj ET Q q 0 0 0 rg BT 321.20 664.50 Td (e declar) Tj ET Q q 0 0 0 rg BT 353.33 664.50 Td (ed ar) Tj ET Q q 0 0 0 rg BT 373.97 664.50 Td (e a) Tj ET Q q 0 0 0 rg BT 385.90 664.50 Td (t the discr) Tj ET Q q 0 0 0 rg BT 426.39 664.50 Td (e) Tj ET Q q 0 0 0 rg BT 431.31 664.50 Td (tion of the Boar) Tj ET Q q 0 0 0 rg BT 495.03 664.50 Td (d of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 652.50 Td (Dir) Tj ET Q q 0 0 0 rg BT 65.80 652.50 Td (ect) Tj ET Q q 0 0 0 rg BT 78.26 652.50 Td (or) Tj ET Q q 0 0 0 rg BT 86.85 652.50 Td (s and ar) Tj ET Q q 0 0 0 rg BT 118.72 652.50 Td (e se) Tj ET Q q 0 0 0 rg BT 134.79 652.50 Td (t fr) Tj ET Q q 0 0 0 rg BT 146.78 652.50 Td (om time t) Tj ET Q q 0 0 0 rg BT 186.42 652.50 Td (o time a) Tj ET Q q 0 0 0 rg BT 219.56 652.50 Td (ft) Tj ET Q q 0 0 0 rg BT 225.85 652.50 Td (er t) Tj ET Q q 0 0 0 rg BT 239.80 652.50 Td (aking in) Tj ET Q q 0 0 0 rg BT 271.11 652.50 Td (t) Tj ET Q q 0 0 0 rg BT 274.36 652.50 Td (o c) Tj ET Q q 0 0 0 rg BT 286.04 652.50 Td (onsider) Tj ET Q q 0 0 0 rg BT 316.29 652.50 Td (a) Tj ET Q q 0 0 0 rg BT 320.98 652.50 Td (tion the Compan) Tj ET Q q 0 0 0 rg BT 388.96 652.50 Td (y) Tj ET Q q 0 0 0 rg BT 393.79 652.50 Td () Tj ET Q q 0 0 0 rg BT 395.67 652.50 Td (s c) Tj ET Q q 0 0 0 rg BT 405.99 652.50 Td (apit) Tj ET Q q 0 0 0 rg BT 421.56 652.50 Td (al r) Tj ET Q q 0 0 0 rg BT 434.26 652.50 Td (equir) Tj ET Q q 0 0 0 rg BT 455.39 652.50 Td (emen) Tj ET Q q 0 0 0 rg BT 478.49 652.50 Td (ts, its alt) Tj ET Q q 0 0 0 rg BT 512.65 652.50 Td (erna) Tj ET Q q 0 0 0 rg BT 531.07 652.50 Td (tiv) Tj ET Q q 0 0 0 rg BT 541.13 652.50 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 640.50 Td (sour) Tj ET Q q 0 0 0 rg BT 71.78 640.50 Td (ces of c) Tj ET Q q 0 0 0 rg BT 101.89 640.50 Td (apit) Tj ET Q q 0 0 0 rg BT 117.45 640.50 Td (al and c) Tj ET Q q 0 0 0 rg BT 148.50 640.50 Td (ommon indus) Tj ET Q q 0 0 0 rg BT 204.40 640.50 Td (tr) Tj ET Q q 0 0 0 rg BT 211.28 640.50 Td (y c) Tj ET Q q 0 0 0 rg BT 222.21 640.50 Td (ash dis) Tj ET Q q 0 0 0 rg BT 249.78 640.50 Td (tribution pr) Tj ET Q q 0 0 0 rg BT 296.38 640.50 Td (actices. ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 630 m 428.5 630 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 630 m 483.5 630 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 617 m 483.5 617 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 630 m 503.5 630 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 617 m 503.5 617 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 630 m 558.5 630 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 617 m 558.5 617 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 617 m 428.5 617 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 604 m 428.5 604 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 617 m 483.5 617 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 604 m 483.5 604 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 617 m 503.5 617 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 604 m 503.5 604 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 617 m 558.5 617 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 604 m 558.5 604 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 523 m 428.5 523 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 523 m 483.5 523 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 523 m 503.5 523 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 523 m 558.5 523 l s BT /F3 8.50 Tf ET q 0 0 0 rg BT 448.35 621.13 Td (Three months ended March 31) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 462.75 608.13 Td (2015) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 537.75 608.13 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 594.75 Td (Regular dividends paid per common share) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 594.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.75 594.75 Td (0.215) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 594.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 594.75 Td (0.21) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 581.75 Td (Payout ratio calculated as a percentage of:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.00 569.75 Td (Funds from operations) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 460.30 568.75 Td (86.0) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 476.40 568.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 568.75 Td (82.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 568.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.00 555.75 Td (Operating funds from operations) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 460.30 555.75 Td (86.0) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 476.40 555.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 555.75 Td (84.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 555.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.00 541.75 Td (Adjusted funds from operations) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 460.30 541.75 Td (89.6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 476.40 541.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 541.75 Td (87.5) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 541.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.00 527.75 Td (Operating adjusted funds from operations) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 460.30 527.75 Td (89.6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 476.40 527.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 527.75 Td (87.5) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 527.75 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 500.10 Td (Quart) Tj ET Q q 0 0 0 rg BT 82.88 500.10 Td (erly Dividend) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 485.10 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 485.10 Td (y announced tha) Tj ET Q q 0 0 0 rg BT 172.96 485.10 Td (t it will pa) Tj ET Q q 0 0 0 rg BT 212.62 485.10 Td (y a sec) Tj ET Q q 0 0 0 rg BT 239.49 485.10 Td (ond quart) Tj ET Q q 0 0 0 rg BT 279.56 485.10 Td (er dividend of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 338.23 485.10 Td ($0.215) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 366.09 485.10 Td ( per c) Tj ET Q q 0 0 0 rg BT 388.48 485.10 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 439.83 485.10 Td (e on ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 459.85 485.10 Td (July 9, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 507.47 485.10 Td ( t) Tj ET Q q 0 0 0 rg BT 512.98 485.10 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 473.10 Td (shar) Tj ET Q q 0 0 0 rg BT 71.31 473.10 Td (eholder) Tj ET Q q 0 0 0 rg BT 102.65 473.10 Td (s of r) Tj ET Q q 0 0 0 rg BT 122.76 473.10 Td (ec) Tj ET Q q 0 0 0 rg BT 131.89 473.10 Td (or) Tj ET Q q 0 0 0 rg BT 140.51 473.10 Td (d on ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 160.81 473.10 Td (June 30, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 216.91 473.10 Td (. ) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 444.30 Td (SUMMAR) Tj ET Q q 0 0 0 rg BT 110.33 444.30 Td (Y OF FINANCIAL RE) Tj ET Q q 0 0 0 rg BT 220.20 444.30 Td (SUL) Tj ET Q q 0 0 0 rg BT 240.85 444.30 Td (T) Tj ET Q q 0 0 0 rg BT 247.72 444.30 Td (S OF L) Tj ET Q q 0 0 0 rg BT 282.23 444.30 Td (ONG-TERM DEB) Tj ET Q q 0 0 0 rg BT 374.37 444.30 Td (T GU) Tj ET Q q 0 0 0 rg BT 402.15 444.30 Td (ARANT) Tj ET Q q 0 0 0 rg BT 442.77 444.30 Td (OR) Tj ET Q q 0 0 0 rg BT 459.99 444.30 Td (S) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 426.30 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 426.30 Td (y's senior unsecur) Tj ET Q q 0 0 0 rg BT 177.66 426.30 Td (ed deben) Tj ET Q q 0 0 0 rg BT 215.77 426.30 Td (tur) Tj ET Q q 0 0 0 rg BT 227.73 426.30 Td (es ar) Tj ET Q q 0 0 0 rg BT 247.02 426.30 Td (e guar) Tj ET Q q 0 0 0 rg BT 272.29 426.30 Td (an) Tj ET Q q 0 0 0 rg BT 282.24 426.30 Td (t) Tj ET Q q 0 0 0 rg BT 285.48 426.30 Td (eed b) Tj ET Q q 0 0 0 rg BT 308.16 426.30 Td (y the wholly o) Tj ET Q q 0 0 0 rg BT 365.07 426.30 Td (wned sub) Tj ET Q q 0 0 0 rg BT 404.33 426.30 Td (sidiaries of Fir) Tj ET Q q 0 0 0 rg BT 460.60 426.30 Td (s) Tj ET Q q 0 0 0 rg BT 464.40 426.30 Td (t Capit) Tj ET Q q 0 0 0 rg BT 490.90 426.30 Td (al R) Tj ET Q q 0 0 0 rg BT 505.50 426.30 Td (ealty) Tj ET Q q 0 0 0 rg BT 524.73 426.30 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 414.30 Td (other than nominee sub) Tj ET Q q 0 0 0 rg BT 152.15 414.30 Td (sidiaries and inactiv) Tj ET Q q 0 0 0 rg BT 231.82 414.30 Td (e sub) Tj ET Q q 0 0 0 rg BT 253.42 414.30 Td (sidiaries. All such curr) Tj ET Q q 0 0 0 rg BT 341.29 414.30 Td (en) Tj ET Q q 0 0 0 rg BT 351.43 414.30 Td (t and futur) Tj ET Q q 0 0 0 rg BT 394.86 414.30 Td (e wholly o) Tj ET Q q 0 0 0 rg BT 436.38 414.30 Td (wned sub) Tj ET Q q 0 0 0 rg BT 475.65 414.30 Td (sidiaries will ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 402.30 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 402.30 Td (o) Tj ET Q q 0 0 0 rg BT 67.81 402.30 Td (vide a guar) Tj ET Q q 0 0 0 rg BT 112.19 402.30 Td (an) Tj ET Q q 0 0 0 rg BT 122.14 402.30 Td (t) Tj ET Q q 0 0 0 rg BT 125.39 402.30 Td (ee of the deben) Tj ET Q q 0 0 0 rg BT 189.64 402.30 Td (tur) Tj ET Q q 0 0 0 rg BT 201.60 402.30 Td (es. In the c) Tj ET Q q 0 0 0 rg BT 245.29 402.30 Td (ase of de) Tj ET Q q 0 0 0 rg BT 281.96 402.30 Td (f) Tj ET Q q 0 0 0 rg BT 284.82 402.30 Td (ault b) Tj ET Q q 0 0 0 rg BT 307.97 402.30 Td (y Fir) Tj ET Q q 0 0 0 rg BT 324.96 402.30 Td (s) Tj ET Q q 0 0 0 rg BT 328.76 402.30 Td (t Capit) Tj ET Q q 0 0 0 rg BT 355.27 402.30 Td (al R) Tj ET Q q 0 0 0 rg BT 369.87 402.30 Td (ealty) Tj ET Q q 0 0 0 rg BT 389.09 402.30 Td (, the inden) Tj ET Q q 0 0 0 rg BT 432.63 402.30 Td (tur) Tj ET Q q 0 0 0 rg BT 444.59 402.30 Td (e trus) Tj ET Q q 0 0 0 rg BT 467.71 402.30 Td (t) Tj ET Q q 0 0 0 rg BT 470.95 402.30 Td (ee will, subject t) Tj ET Q q 0 0 0 rg BT 536.83 402.30 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 390.30 Td (the inden) Tj ET Q q 0 0 0 rg BT 92.78 390.30 Td (tur) Tj ET Q q 0 0 0 rg BT 104.74 390.30 Td (e, be en) Tj ET Q q 0 0 0 rg BT 137.10 390.30 Td (titled t) Tj ET Q q 0 0 0 rg BT 164.13 390.30 Td (o seek r) Tj ET Q q 0 0 0 rg BT 195.68 390.30 Td (edr) Tj ET Q q 0 0 0 rg BT 209.27 390.30 Td (ess fr) Tj ET Q q 0 0 0 rg BT 230.70 390.30 Td (om such wholly o) Tj ET Q q 0 0 0 rg BT 301.42 390.30 Td (wned sub) Tj ET Q q 0 0 0 rg BT 340.68 390.30 Td (sidiaries f) Tj ET Q q 0 0 0 rg BT 379.00 390.30 Td (or the guar) Tj ET Q q 0 0 0 rg BT 423.89 390.30 Td (an) Tj ET Q q 0 0 0 rg BT 433.84 390.30 Td (t) Tj ET Q q 0 0 0 rg BT 437.09 390.30 Td (eed oblig) Tj ET Q q 0 0 0 rg BT 474.19 390.30 Td (a) Tj ET Q q 0 0 0 rg BT 478.89 390.30 Td (tions in the same ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 378.30 Td (manner and upon the same t) Tj ET Q q 0 0 0 rg BT 171.87 378.30 Td (erms tha) Tj ET Q q 0 0 0 rg BT 207.79 378.30 Td (t it ma) Tj ET Q q 0 0 0 rg BT 233.90 378.30 Td (y seek t) Tj ET Q q 0 0 0 rg BT 264.61 378.30 Td (o en) Tj ET Q q 0 0 0 rg BT 282.32 378.30 Td (f) Tj ET Q q 0 0 0 rg BT 285.16 378.30 Td (or) Tj ET Q q 0 0 0 rg BT 293.77 378.30 Td (ce the oblig) Tj ET Q q 0 0 0 rg BT 340.71 378.30 Td (a) Tj ET Q q 0 0 0 rg BT 345.41 378.30 Td (tions of Fir) Tj ET Q q 0 0 0 rg BT 388.55 378.30 Td (s) Tj ET Q q 0 0 0 rg BT 392.34 378.30 Td (t Capit) Tj ET Q q 0 0 0 rg BT 418.85 378.30 Td (al R) Tj ET Q q 0 0 0 rg BT 433.45 378.30 Td (ealty) Tj ET Q q 0 0 0 rg BT 452.73 378.30 Td (. These guar) Tj ET Q q 0 0 0 rg BT 501.80 378.30 Td (an) Tj ET Q q 0 0 0 rg BT 511.75 378.30 Td (t) Tj ET Q q 0 0 0 rg BT 514.99 378.30 Td (ees ar) Tj ET Q q 0 0 0 rg BT 539.26 378.30 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 366.30 Td (in) Tj ET Q q 0 0 0 rg BT 61.46 366.30 Td (t) Tj ET Q q 0 0 0 rg BT 64.70 366.30 Td (ended t) Tj ET Q q 0 0 0 rg BT 95.92 366.30 Td (o elimina) Tj ET Q q 0 0 0 rg BT 133.26 366.30 Td (t) Tj ET Q q 0 0 0 rg BT 136.50 366.30 Td (e s) Tj ET Q q 0 0 0 rg BT 147.54 366.30 Td (tructur) Tj ET Q q 0 0 0 rg BT 175.74 366.30 Td (al subor) Tj ET Q q 0 0 0 rg BT 208.13 366.30 Td (dina) Tj ET Q q 0 0 0 rg BT 225.63 366.30 Td (tion, which arises as a c) Tj ET Q q 0 0 0 rg BT 320.78 366.30 Td (onsequence of a signific) Tj ET Q q 0 0 0 rg BT 417.99 366.30 Td (an) Tj ET Q q 0 0 0 rg BT 427.94 366.30 Td (t portion of Fir) Tj ET Q q 0 0 0 rg BT 486.79 366.30 Td (s) Tj ET Q q 0 0 0 rg BT 490.59 366.30 Td (t Capit) Tj ET Q q 0 0 0 rg BT 517.10 366.30 Td (al ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 354.30 Td (R) Tj ET Q q 0 0 0 rg BT 59.25 354.30 Td (ealty) Tj ET Q q 0 0 0 rg BT 79.49 354.30 Td () Tj ET Q q 0 0 0 rg BT 81.38 354.30 Td (s asse) Tj ET Q q 0 0 0 rg BT 105.08 354.30 Td (ts being held in v) Tj ET Q q 0 0 0 rg BT 173.57 354.30 Td (arious sub) Tj ET Q q 0 0 0 rg BT 215.21 354.30 Td (sidiaries.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 336.30 Td (The f) Tj ET Q q 0 0 0 rg BT 74.21 336.30 Td (ollo) Tj ET Q q 0 0 0 rg BT 89.30 336.30 Td (wing t) Tj ET Q q 0 0 0 rg BT 114.20 336.30 Td (ables se) Tj ET Q q 0 0 0 rg BT 146.51 336.30 Td (t f) Tj ET Q q 0 0 0 rg BT 154.97 336.30 Td (orth select) Tj ET Q q 0 0 0 rg BT 198.22 336.30 Td (ed c) Tj ET Q q 0 0 0 rg BT 214.85 336.30 Td (onsolida) Tj ET Q q 0 0 0 rg BT 249.11 336.30 Td (ting summar) Tj ET Q q 0 0 0 rg BT 300.44 336.30 Td (y in) Tj ET Q q 0 0 0 rg BT 314.72 336.30 Td (f) Tj ET Q q 0 0 0 rg BT 317.56 336.30 Td (orma) Tj ET Q q 0 0 0 rg BT 339.00 336.30 Td (tion f) Tj ET Q q 0 0 0 rg BT 360.28 336.30 Td (or the Compan) Tj ET Q q 0 0 0 rg BT 420.85 336.30 Td (y f) Tj ET Q q 0 0 0 rg BT 430.47 336.30 Td (or the periods iden) Tj ET Q q 0 0 0 rg BT 507.73 336.30 Td (tified ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 324.30 Td (belo) Tj ET Q q 0 0 0 rg BT 71.76 324.30 Td (w pr) Tj ET Q q 0 0 0 rg BT 89.78 324.30 Td (esen) Tj ET Q q 0 0 0 rg BT 108.80 324.30 Td (t) Tj ET Q q 0 0 0 rg BT 112.04 324.30 Td (ed separ) Tj ET Q q 0 0 0 rg BT 146.74 324.30 Td (a) Tj ET Q q 0 0 0 rg BT 151.44 324.30 Td (t) Tj ET Q q 0 0 0 rg BT 154.68 324.30 Td (ely f) Tj ET Q q 0 0 0 rg BT 171.58 324.30 Td (or \(i\) Fir) Tj ET Q q 0 0 0 rg BT 203.43 324.30 Td (s) Tj ET Q q 0 0 0 rg BT 207.23 324.30 Td (t Capit) Tj ET Q q 0 0 0 rg BT 233.74 324.30 Td (al R) Tj ET Q q 0 0 0 rg BT 248.34 324.30 Td (ealty \(denot) Tj ET Q q 0 0 0 rg BT 297.56 324.30 Td (ed as F) Tj ET Q q 0 0 0 rg BT 325.52 324.30 Td (CR\); \(ii\) guar) Tj ET Q q 0 0 0 rg BT 375.20 324.30 Td (an) Tj ET Q q 0 0 0 rg BT 385.15 324.30 Td (t) Tj ET Q q 0 0 0 rg BT 388.40 324.30 Td (or sub) Tj ET Q q 0 0 0 rg BT 413.79 324.30 Td (sidiaries; \(iii\) non-guar) Tj ET Q q 0 0 0 rg BT 504.03 324.30 Td (an) Tj ET Q q 0 0 0 rg BT 513.98 324.30 Td (t) Tj ET Q q 0 0 0 rg BT 517.23 324.30 Td (or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 312.30 Td (sub) Tj ET Q q 0 0 0 rg BT 68.37 312.30 Td (sidiaries; \(iv\) c) Tj ET Q q 0 0 0 rg BT 125.80 312.30 Td (onsolida) Tj ET Q q 0 0 0 rg BT 160.05 312.30 Td (ting adjus) Tj ET Q q 0 0 0 rg BT 199.41 312.30 Td (tmen) Tj ET Q q 0 0 0 rg BT 220.88 312.30 Td (ts; and \(v\) the t) Tj ET Q q 0 0 0 rg BT 282.57 312.30 Td (ot) Tj ET Q q 0 0 0 rg BT 291.08 312.30 Td (al c) Tj ET Q q 0 0 0 rg BT 304.57 312.30 Td (onsolida) Tj ET Q q 0 0 0 rg BT 338.82 312.30 Td (t) Tj ET Q q 0 0 0 rg BT 342.06 312.30 Td (ed amoun) Tj ET Q q 0 0 0 rg BT 383.02 312.30 Td (ts.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 301.79999999999995 m 152.5 301.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 301.79999999999995 m 192.5 301.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 192.5 301.79999999999995 m 232.5 301.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 301.79999999999995 m 272.5 301.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 301.79999999999995 m 312.5 301.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 301.79999999999995 m 352.5 301.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 301.79999999999995 m 392.5 301.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 301.79999999999995 m 432.5 301.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 301.79999999999995 m 472.5 301.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 301.79999999999995 m 511.5 301.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 301.79999999999995 m 550.5 301.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 286.79999999999995 m 152.5 286.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 273.79999999999995 m 152.5 273.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 152.5 286.79999999999995 m 192.5 286.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 152.5 273.79999999999995 m 192.5 273.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 192.5 286.79999999999995 m 232.5 286.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 192.5 273.79999999999995 m 232.5 273.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 232.5 286.79999999999995 m 272.5 286.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 232.5 273.79999999999995 m 272.5 273.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 272.5 286.79999999999995 m 312.5 286.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 272.5 273.79999999999995 m 312.5 273.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 312.5 286.79999999999995 m 352.5 286.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 312.5 273.79999999999995 m 352.5 273.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 352.5 286.79999999999995 m 392.5 286.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 352.5 273.79999999999995 m 392.5 273.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 392.5 286.79999999999995 m 432.5 286.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 392.5 273.79999999999995 m 432.5 273.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 286.79999999999995 m 472.5 286.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432.5 273.79999999999995 m 472.5 273.79999999999995 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gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 346.5 676 m 389.5 676 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 346.5 656 m 389.5 656 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 676 m 431.5 656 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389.5 676 m 431.5 676 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389.5 656 m 431.5 656 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 676 m 474.5 676 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 656 m 474.5 656 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 676 m 518.5 676 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 656 m 518.5 656 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518.5 676 m 560.5 676 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518.5 656 m 560.5 656 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 656 m 258.5 643 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 216.5 656 m 258.5 656 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 656 m 302.5 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3 M 258.5 598 m 258.5 577 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 598 m 431.5 577 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 577 m 258.5 556 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 577 m 431.5 556 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 556 m 258.5 543 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 556 m 431.5 543 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 543 m 258.5 530 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 543 m 431.5 530 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 530 m 258.5 509 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 530 m 431.5 509 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 509 m 258.5 496 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 509 m 431.5 496 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 496 m 258.5 483 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 496 m 431.5 483 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 483 m 258.5 470 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 483 m 431.5 470 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 470 m 258.5 449 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 470 m 431.5 449 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 449 m 258.5 436 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 449 m 431.5 436 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 436 m 258.5 423 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 436 m 431.5 423 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 423 m 258.5 402 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 423 m 431.5 402 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 402 m 258.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 402 m 431.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 389 m 258.5 368 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 389 m 431.5 368 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 368 m 258.5 347 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 368 m 431.5 347 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 347 m 258.5 334 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 347 m 431.5 334 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 334 m 258.5 321 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 334 m 431.5 321 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 321 m 258.5 308 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 321 m 431.5 308 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 308 m 258.5 295 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 308 m 431.5 295 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 295 m 258.5 282 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 295 m 431.5 282 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 282 m 258.5 269 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 282 m 431.5 269 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 254 m 216.5 254 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258.5 269 m 258.5 254 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 254 m 258.5 254 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258.5 254 m 302.5 254 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 254 m 346.5 254 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 254 m 389.5 254 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 269 m 431.5 254 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 254 m 431.5 254 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 254 m 474.5 254 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 254 m 518.5 254 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518.5 254 m 560.5 254 l s BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 228.85 680.50 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 336.35 680.50 Td (2014) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.35 680.50 Td (2013) Tj ET Q BT /F4 7.00 Tf ET q 0 0 0 rg BT 59.00 667.25 Td (\(thousands of dollars, except per share and other) Tj ET Q BT /F4 7.00 Tf ET q 0 0 0 rg BT 59.00 660.25 Td (data, and thousands of shares\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 245.45 660.50 Td (Q1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 289.55 660.50 Td (Q4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 333.55 660.50 Td (Q3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 376.55 660.50 Td (Q2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 418.55 660.50 Td (Q1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 461.55 660.50 Td (Q4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 505.55 660.50 Td (Q3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 547.55 660.50 Td (Q2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 647.50 Td (Property rental revenue) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 219.00 647.25 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 229.75 647.25 Td (163,974) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 261.00 647.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 273.90 647.25 Td (162,071) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 305.00 647.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 317.90 647.25 Td (162,306) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 349.00 647.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 360.90 647.25 Td (161,197) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 392.00 647.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 402.90 647.25 Td (162,867) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 434.00 647.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 445.90 647.25 Td (161,094) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 477.00 647.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 489.90 647.25 Td (154,804) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 521.00 647.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 531.90 647.25 Td (157,910) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 634.50 Td (Property operating costs) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 233.30 634.25 Td (63,881) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 277.45 634.25 Td (59,549) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 321.45 634.25 Td (58,545) Tj ET Q BT /F3 7.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 364.45 634.25 Td (59,155) Tj ET Q BT /F3 7.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 406.45 634.25 Td (64,283) Tj ET Q BT /F3 7.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 449.45 634.25 Td (58,588) Tj ET Q BT /F3 7.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 493.45 634.25 Td (56,435) Tj ET Q BT /F3 7.00 Tf ET q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 535.45 634.25 Td (58,518) Tj ET Q BT /F3 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 57.00 621.50 Td (Net operating income) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 229.75 621.25 Td (100,093) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 273.90 621.25 Td (102,522) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 317.90 621.25 Td (103,761) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 360.90 621.25 Td (102,042) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 406.45 621.25 Td (98,584) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 445.90 621.25 Td (102,506) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 493.45 621.25 Td (98,369) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 535.45 621.25 Td (99,392) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 608.50 Td (Increase \(decrease\) in value of investment) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.00 600.50 Td (properties, net) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 240.00 602.25 Td (\(334) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 252.85 602.25 Td (\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 277.45 602.25 Td (12,086) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 322.85 602.25 Td (\(7,196) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 340.95 602.25 Td (\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 364.45 602.25 Td (43,476) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 407.85 602.25 Td (\(6,288) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 425.95 602.25 Td (\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 453.00 602.25 Td (2,261) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 497.00 602.25 Td (1,125) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 535.45 602.25 Td (41,848) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 589.50 Td (Net income attributable to common) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.00 581.50 Td (shareholders) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 233.30 581.25 Td (45,901) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 277.45 581.25 Td (44,807) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 321.45 581.25 Td (39,020) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 364.45 581.25 Td (77,707) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 406.45 581.25 Td (35,214) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 449.45 581.25 Td (47,901) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 493.45 581.25 Td (41,078) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 535.45 581.25 Td (73,163) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 568.50 Td (Net income per share attributable to common) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.00 560.50 Td (shareholders:) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.50 547.50 Td (Basic) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 240.30 547.25 Td (0.21) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 284.50 547.25 Td (0.21) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 328.50 547.25 Td (0.18) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 371.50 547.25 Td (0.37) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 413.50 547.25 Td (0.17) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 456.50 547.25 Td (0.23) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 500.50 547.25 Td (0.20) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 542.50 547.25 Td (0.35) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 76.50 534.50 Td (Diluted) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 240.30 534.25 Td (0.21) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 284.50 534.25 Td (0.21) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 328.50 534.25 Td (0.18) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 371.50 534.25 Td (0.36) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 413.50 534.25 Td (0.17) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 456.50 534.25 Td (0.23) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 500.50 534.25 Td (0.20) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 542.50 534.25 Td (0.34) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 521.50 Td (Weighted average number of diluted common) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.00 513.50 Td (shares outstanding EPS) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 229.75 513.25 Td (223,652) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 273.90 513.25 Td (226,114) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 317.90 513.25 Td (215,360) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 360.90 513.25 Td (231,141) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 402.90 513.25 Td (209,597) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 445.90 513.25 Td (228,908) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 489.90 513.25 Td (208,819) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 531.90 513.25 Td (225,785) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 500.50 Td (FFO) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 219.00 500.25 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 233.30 500.25 Td (55,432) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 261.00 500.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 277.45 500.25 Td (48,080) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 305.00 500.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 321.45 500.25 Td (53,405) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 349.00 500.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 364.45 500.25 Td (54,031) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 392.00 500.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 406.45 500.25 Td (53,461) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 434.00 500.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 449.45 500.25 Td (55,816) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 477.00 500.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 493.45 500.25 Td (53,535) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 521.00 500.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 535.45 500.25 Td (53,305) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 487.50 Td (FFO per diluted share) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 240.30 487.25 Td (0.25) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 284.50 487.25 Td (0.22) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 328.50 487.25 Td (0.25) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 371.50 487.25 Td (0.26) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 413.50 487.25 Td (0.26) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 456.50 487.25 Td (0.27) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 500.50 487.25 Td (0.26) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 542.50 487.25 Td (0.26) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 474.50 Td (Cash provided by operating activities) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 233.30 474.25 Td (37,648) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 277.45 474.25 Td (82,593) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 321.45 474.25 Td (58,236) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 364.45 474.25 Td (56,016) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 406.45 474.25 Td (70,131) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 449.45 474.25 Td (84,556) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 493.45 474.25 Td (51,228) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 535.45 474.25 Td (38,951) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 461.50 Td (Weighted average number of diluted common) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.00 453.50 Td (shares outstanding FFO) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 229.75 453.25 Td (220,861) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 273.90 453.25 Td (217,299) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 317.90 453.25 Td (212,367) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 360.90 453.25 Td (210,786) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 402.90 453.25 Td (209,597) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 445.90 453.25 Td (209,486) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 489.90 453.25 Td (208,819) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 531.90 453.25 Td (209,010) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 440.50 Td (AFFO) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 219.00 440.25 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 233.30 440.25 Td (57,960) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 261.00 440.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 277.45 440.25 Td (61,460) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 305.00 440.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 321.45 440.25 Td (57,370) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 349.00 440.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 364.45 440.25 Td (56,961) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 392.00 440.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 406.45 440.25 Td (53,978) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 434.00 440.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 449.45 440.25 Td (57,190) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 477.00 440.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 493.45 440.25 Td (56,069) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 521.00 440.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 535.45 440.25 Td (57,699) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 427.50 Td (AFFO per diluted share) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 240.30 427.25 Td (0.24) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 284.50 427.25 Td (0.26) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 328.50 427.25 Td (0.25) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 371.50 427.25 Td (0.25) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 413.50 427.25 Td (0.24) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 456.50 427.25 Td (0.25) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 500.50 427.25 Td (0.25) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 542.50 427.25 Td (0.26) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 414.50 Td (Weighted average number of diluted shares) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.00 406.50 Td (outstanding AFFO) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 229.75 406.25 Td (237,315) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 273.90 406.25 Td (233,784) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 317.90 406.25 Td (228,983) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 360.90 406.25 Td (227,449) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 402.90 406.25 Td (226,260) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 445.90 406.25 Td (226,183) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 489.90 406.25 Td (225,539) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 531.90 406.25 Td (225,785) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 393.50 Td (Regular dividend) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 219.00 393.25 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 236.75 393.25 Td (0.215) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 261.00 393.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 280.95 393.25 Td (0.215) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 305.00 393.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 324.95 393.25 Td (0.215) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 349.00 393.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 371.50 393.25 Td (0.21) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 392.00 393.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 413.50 393.25 Td (0.21) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 434.00 393.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 456.50 393.25 Td (0.21) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 477.00 393.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 500.50 393.25 Td (0.21) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 521.00 393.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 542.50 393.25 Td (0.21) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 380.50 Td (Fair value of investment properties shopping) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.00 372.50 Td (centres) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 224.40 372.25 Td (7,548,466) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 268.60 372.25 Td (7,474,329) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 312.60 372.25 Td (7,386,709) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 355.60 372.25 Td (7,283,908) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 397.60 372.25 Td (7,210,150) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 440.60 372.25 Td (7,126,008) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 484.60 372.25 Td (6,996,401) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 526.60 372.25 Td (6,920,530) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 359.50 Td (Weighted average capitalization rate of) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.00 351.50 Td (shopping centres) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 240.30 351.25 Td (5.74) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 252.85 351.25 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 284.50 351.25 Td (5.79) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 296.95 351.25 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 328.50 351.25 Td (5.82) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 340.95 351.25 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 371.50 351.25 Td (5.85) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 383.95 351.25 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 413.50 351.25 Td (5.86) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 425.95 351.25 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 456.50 351.25 Td (5.86) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 468.95 351.25 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 500.50 351.25 Td (5.89) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 512.95 351.25 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 542.50 351.25 Td (5.89) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 554.95 351.25 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 338.50 Td (Total assets) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 219.00 338.25 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 224.40 338.25 Td (8,022,510) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 261.00 338.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 268.60 338.25 Td (7,908,184) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 305.00 338.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 312.60 338.25 Td (8,075,552) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 349.00 338.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 355.60 338.25 Td (8,017,673) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 392.00 338.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 397.60 338.25 Td (7,784,774) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 434.00 338.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 440.60 338.25 Td (7,596,255) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 477.00 338.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 484.60 338.25 Td (7,580,839) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 521.00 338.25 Td ($) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 526.60 338.25 Td (7,531,620) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 325.50 Td (Total mortgages and credit facilities) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 224.40 325.25 Td (1,093,808) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 268.60 325.25 Td (1,173,410) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 312.60 325.25 Td (1,230,026) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 355.60 325.25 Td (1,269,633) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 397.60 325.25 Td (1,245,691) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 440.60 325.25 Td (1,366,583) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 484.60 325.25 Td (1,371,047) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 526.60 325.25 Td (1,387,240) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 312.50 Td (Shareholders equity) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 224.40 312.25 Td (3,566,144) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 268.60 312.25 Td (3,470,271) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 312.60 312.25 Td (3,468,010) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 355.60 312.25 Td (3,363,510) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 397.60 312.25 Td (3,321,059) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 440.60 312.25 Td (3,319,370) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 484.60 312.25 Td (3,313,802) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 526.60 312.25 Td (3,304,866) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 57.00 299.50 Td (Other data) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 286.50 Td (Number of properties) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 242.20 286.25 Td (157) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 286.30 286.25 Td (158) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 330.30 286.25 Td (163) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 373.30 286.25 Td (164) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 415.30 286.25 Td (164) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 458.30 286.25 Td (164) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 502.30 286.25 Td (164) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 544.30 286.25 Td (164) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 273.50 Td (Gross leasable area \(in thousands\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 233.30 273.25 Td (24,238) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 277.45 273.25 Td (24,331) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 321.45 273.25 Td (24,555) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 364.45 273.25 Td (24,373) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 406.45 273.25 Td (24,525) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 449.45 273.25 Td (24,462) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 493.45 273.25 Td (24,313) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 535.45 273.25 Td (24,123) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 258.50 Td (Occupancy %) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 240.30 258.25 Td (95.6) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 252.85 258.25 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 284.50 258.25 Td (96.0) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 296.95 258.25 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 328.50 258.25 Td (95.9) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 340.95 258.25 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 371.50 258.25 Td (95.5) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 383.95 258.25 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 413.50 258.25 Td (95.3) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 425.95 258.25 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 456.50 258.25 Td (95.5) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 468.95 258.25 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 500.50 258.25 Td (95.0) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 512.95 258.25 Td (%) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 542.50 258.25 Td (95.2) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 554.95 258.25 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 229.90 Td (R) Tj ET Q q 0 0 0 rg BT 59.25 229.90 Td (e) Tj ET Q q 0 0 0 rg BT 64.14 229.90 Td (f) Tj ET Q q 0 0 0 rg BT 66.94 229.90 Td (er t) Tj ET Q q 0 0 0 rg BT 80.92 229.90 Td (o the r) Tj ET Q q 0 0 0 rg BT 107.65 229.90 Td (espectiv) Tj ET Q q 0 0 0 rg BT 141.06 229.90 Td (e MD&A and the quart) Tj ET Q q 0 0 0 rg BT 233.29 229.90 Td (erly financial s) Tj ET Q q 0 0 0 rg BT 291.14 229.90 Td (t) Tj ET Q q 0 0 0 rg BT 294.37 229.90 Td (a) Tj ET Q q 0 0 0 rg BT 299.07 229.90 Td (t) Tj ET Q q 0 0 0 rg BT 302.31 229.90 Td (emen) Tj ET Q q 0 0 0 rg BT 325.41 229.90 Td (ts f) Tj ET Q q 0 0 0 rg BT 337.77 229.90 Td (or discussion and analy) Tj ET Q q 0 0 0 rg BT 431.76 229.90 Td (sis r) Tj ET Q q 0 0 0 rg BT 447.50 229.90 Td (ela) Tj ET Q q 0 0 0 rg BT 459.46 229.90 Td (ting t) Tj ET Q q 0 0 0 rg BT 480.58 229.90 Td (o the f) Tj ET Q q 0 0 0 rg BT 506.80 229.90 Td (our ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 217.90 Td (quart) Tj ET Q q 0 0 0 rg BT 76.03 217.90 Td (er) Tj ET Q q 0 0 0 rg BT 84.32 217.90 Td (s of 2014 and the thr) Tj ET Q q 0 0 0 rg BT 168.97 217.90 Td (ee quart) Tj ET Q q 0 0 0 rg BT 203.20 217.90 Td (er) Tj ET Q q 0 0 0 rg BT 211.50 217.90 Td (s in 2013.) Tj ET Q endstream endobj 111 0 obj <> endobj 112 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (54) Tj ET Q BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 691.50 Td (SUMMAR) Tj ET Q q 0 0 0 rg BT 110.33 691.50 Td (Y OF SIGNIFICANT A) Tj ET Q q 0 0 0 rg BT 225.75 691.50 Td (CC) Tj ET Q q 0 0 0 rg BT 240.46 691.50 Td (OUNTING E) Tj ET Q q 0 0 0 rg BT 306.96 691.50 Td (S) Tj ET Q q 0 0 0 rg BT 313.44 691.50 Td (TIMA) Tj ET Q q 0 0 0 rg BT 343.73 691.50 Td (TE) Tj ET Q q 0 0 0 rg BT 357.35 691.50 Td (S AND POLICIE) Tj ET Q q 0 0 0 rg BT 441.24 691.50 Td (S) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 668.10 Td (Summar) Tj ET Q q 0 0 0 rg BT 95.88 668.10 Td (y of Critic) Tj ET Q q 0 0 0 rg BT 142.86 668.10 Td (al Acc) Tj ET Q q 0 0 0 rg BT 171.70 668.10 Td (oun) Tj ET Q q 0 0 0 rg BT 190.92 668.10 Td (ting Es) Tj ET Q q 0 0 0 rg BT 223.37 668.10 Td (tima) Tj ET Q q 0 0 0 rg BT 246.05 668.10 Td (t) Tj ET Q q 0 0 0 rg BT 250.07 668.10 Td (es) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 653.10 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 653.10 Td (y's unaudit) Tj ET Q q 0 0 0 rg BT 149.32 653.10 Td (ed in) Tj ET Q q 0 0 0 rg BT 169.26 653.10 Td (t) Tj ET Q q 0 0 0 rg BT 172.51 653.10 Td (erim c) Tj ET Q q 0 0 0 rg BT 197.66 653.10 Td (onsolida) Tj ET Q q 0 0 0 rg BT 231.91 653.10 Td (t) Tj ET Q q 0 0 0 rg BT 235.15 653.10 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 287.96 653.10 Td (t) Tj ET Q q 0 0 0 rg BT 291.18 653.10 Td (a) Tj ET Q q 0 0 0 rg BT 295.88 653.10 Td (t) Tj ET Q q 0 0 0 rg BT 299.12 653.10 Td (emen) Tj ET Q q 0 0 0 rg BT 322.22 653.10 Td (ts f) Tj ET Q q 0 0 0 rg BT 334.59 653.10 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 361.45 653.10 Td (thr) Tj ET Q q 0 0 0 rg BT 373.40 653.10 Td (ee mon) Tj ET Q q 0 0 0 rg BT 404.04 653.10 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 463.47 653.10 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 510.38 653.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 641.10 Td (2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.27 641.10 Td ( ha) Tj ET Q q 0 0 0 rg BT 86.41 641.10 Td (v) Tj ET Q q 0 0 0 rg BT 90.83 641.10 Td (e been pr) Tj ET Q q 0 0 0 rg BT 129.40 641.10 Td (epar) Tj ET Q q 0 0 0 rg BT 147.77 641.10 Td (ed in acc) Tj ET Q q 0 0 0 rg BT 183.23 641.10 Td (or) Tj ET Q q 0 0 0 rg BT 191.86 641.10 Td (dance with IAS 34, In) Tj ET Q q 0 0 0 rg BT 280.85 641.10 Td (t) Tj ET Q q 0 0 0 rg BT 284.09 641.10 Td (erim Financial R) Tj ET Q q 0 0 0 rg BT 348.40 641.10 Td (eporting) Tj ET Q q 0 0 0 rg BT 383.40 641.10 Td ( as issued b) Tj ET Q q 0 0 0 rg BT 433.88 641.10 Td (y the In) Tj ET Q q 0 0 0 rg BT 464.19 641.10 Td (t) Tj ET Q q 0 0 0 rg BT 467.43 641.10 Td (erna) Tj ET Q q 0 0 0 rg BT 485.84 641.10 Td (tional ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 629.10 Td (Acc) Tj ET Q q 0 0 0 rg BT 68.16 629.10 Td (oun) Tj ET Q q 0 0 0 rg BT 83.85 629.10 Td (ting St) Tj ET Q q 0 0 0 rg BT 109.54 629.10 Td (andar) Tj ET Q q 0 0 0 rg BT 132.97 629.10 Td (ds Boar) Tj ET Q q 0 0 0 rg BT 163.25 629.10 Td (d. The unaudit) Tj ET Q q 0 0 0 rg BT 222.00 629.10 Td (ed in) Tj ET Q q 0 0 0 rg BT 241.94 629.10 Td (t) Tj ET Q q 0 0 0 rg BT 245.19 629.10 Td (erim c) Tj ET Q q 0 0 0 rg BT 270.34 629.10 Td (onsolida) Tj ET Q q 0 0 0 rg BT 304.59 629.10 Td (t) Tj ET Q q 0 0 0 rg BT 307.83 629.10 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 360.64 629.10 Td (t) Tj ET Q q 0 0 0 rg BT 363.86 629.10 Td (a) Tj ET Q q 0 0 0 rg BT 368.56 629.10 Td (t) Tj ET Q q 0 0 0 rg BT 371.80 629.10 Td (emen) Tj ET Q q 0 0 0 rg BT 394.90 629.10 Td (ts ha) Tj ET Q q 0 0 0 rg BT 414.30 629.10 Td (v) Tj ET Q q 0 0 0 rg BT 418.72 629.10 Td (e been pr) Tj ET Q q 0 0 0 rg BT 457.29 629.10 Td (epar) Tj ET Q q 0 0 0 rg BT 475.66 629.10 Td (ed b) Tj ET Q q 0 0 0 rg BT 493.36 629.10 Td (y applying ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 617.10 Td (the same acc) Tj ET Q q 0 0 0 rg BT 106.93 617.10 Td (oun) Tj ET Q q 0 0 0 rg BT 122.62 617.10 Td (ting policies and me) Tj ET Q q 0 0 0 rg BT 203.74 617.10 Td (thods of c) Tj ET Q q 0 0 0 rg BT 243.78 617.10 Td (omput) Tj ET Q q 0 0 0 rg BT 270.77 617.10 Td (a) Tj ET Q q 0 0 0 rg BT 275.47 617.10 Td (tion as c) Tj ET Q q 0 0 0 rg BT 309.01 617.10 Td (ompar) Tj ET Q q 0 0 0 rg BT 335.67 617.10 Td (ed with the mos) Tj ET Q q 0 0 0 rg BT 401.37 617.10 Td (t r) Tj ET Q q 0 0 0 rg BT 410.33 617.10 Td (ecen) Tj ET Q q 0 0 0 rg BT 429.67 617.10 Td (t audit) Tj ET Q q 0 0 0 rg BT 456.12 617.10 Td (ed annual ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 605.10 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 605.10 Td (onsolida) Tj ET Q q 0 0 0 rg BT 92.40 605.10 Td (t) Tj ET Q q 0 0 0 rg BT 95.64 605.10 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 148.44 605.10 Td (t) Tj ET Q q 0 0 0 rg BT 151.67 605.10 Td (a) Tj ET Q q 0 0 0 rg BT 156.37 605.10 Td (t) Tj ET Q q 0 0 0 rg BT 159.61 605.10 Td (emen) Tj ET Q q 0 0 0 rg BT 182.71 605.10 Td (ts.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 587.10 Td (The MD&A f) Tj ET Q q 0 0 0 rg BT 103.78 587.10 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 130.64 587.10 Td (y) Tj ET Q q 0 0 0 rg BT 135.04 587.10 Td (ear) Tj ET Q q 0 0 0 rg BT 148.12 587.10 Td (s ended December 31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 261.73 587.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 281.55 587.10 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 301.82 587.10 Td ( c) Tj ET Q q 0 0 0 rg BT 308.23 587.10 Td (on) Tj ET Q q 0 0 0 rg BT 318.66 587.10 Td (t) Tj ET Q q 0 0 0 rg BT 321.89 587.10 Td (ains a discussion of the signific) Tj ET Q q 0 0 0 rg BT 445.68 587.10 Td (an) Tj ET Q q 0 0 0 rg BT 455.63 587.10 Td (t acc) Tj ET Q q 0 0 0 rg BT 474.41 587.10 Td (oun) Tj ET Q q 0 0 0 rg BT 490.09 587.10 Td (ting policies ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 575.10 Td (mos) Tj ET Q q 0 0 0 rg BT 71.06 575.10 Td (t a) Tj ET Q q 0 0 0 rg BT 81.40 575.10 Td (f) Tj ET Q q 0 0 0 rg BT 84.36 575.10 Td (f) Tj ET Q q 0 0 0 rg BT 87.16 575.10 Td (ect) Tj ET Q q 0 0 0 rg BT 99.61 575.10 Td (ed b) Tj ET Q q 0 0 0 rg BT 117.30 575.10 Td (y es) Tj ET Q q 0 0 0 rg BT 132.86 575.10 Td (tima) Tj ET Q q 0 0 0 rg BT 151.19 575.10 Td (t) Tj ET Q q 0 0 0 rg BT 154.43 575.10 Td (es and judgmen) Tj ET Q q 0 0 0 rg BT 218.87 575.10 Td (ts used in pr) Tj ET Q q 0 0 0 rg BT 268.47 575.10 Td (epar) Tj ET Q q 0 0 0 rg BT 286.77 575.10 Td (a) Tj ET Q q 0 0 0 rg BT 291.47 575.10 Td (tion of the c) Tj ET Q q 0 0 0 rg BT 340.47 575.10 Td (onsolida) Tj ET Q q 0 0 0 rg BT 374.72 575.10 Td (t) Tj ET Q q 0 0 0 rg BT 377.96 575.10 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 430.77 575.10 Td (t) Tj ET Q q 0 0 0 rg BT 434.00 575.10 Td (a) Tj ET Q q 0 0 0 rg BT 438.69 575.10 Td (t) Tj ET Q q 0 0 0 rg BT 441.93 575.10 Td (emen) Tj ET Q q 0 0 0 rg BT 465.04 575.10 Td (ts, being the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 563.10 Td (acc) Tj ET Q q 0 0 0 rg BT 67.16 563.10 Td (oun) Tj ET Q q 0 0 0 rg BT 82.85 563.10 Td (ting policies r) Tj ET Q q 0 0 0 rg BT 136.86 563.10 Td (ela) Tj ET Q q 0 0 0 rg BT 148.83 563.10 Td (ting t) Tj ET Q q 0 0 0 rg BT 169.95 563.10 Td (o es) Tj ET Q q 0 0 0 rg BT 186.26 563.10 Td (tima) Tj ET Q q 0 0 0 rg BT 204.59 563.10 Td (t) Tj ET Q q 0 0 0 rg BT 207.83 563.10 Td (es of f) Tj ET Q q 0 0 0 rg BT 232.42 563.10 Td (air v) Tj ET Q q 0 0 0 rg BT 249.62 563.10 Td (alues of in) Tj ET Q q 0 0 0 rg BT 291.08 563.10 Td (v) Tj ET Q q 0 0 0 rg BT 295.49 563.10 Td (es) Tj ET Q q 0 0 0 rg BT 304.27 563.10 Td (tmen) Tj ET Q q 0 0 0 rg BT 325.74 563.10 Td (t pr) Tj ET Q q 0 0 0 rg BT 339.93 563.10 Td (operties; v) Tj ET Q q 0 0 0 rg BT 382.76 563.10 Td (alua) Tj ET Q q 0 0 0 rg BT 399.80 563.10 Td (tion of financial ins) Tj ET Q q 0 0 0 rg BT 476.68 563.10 Td (trumen) Tj ET Q q 0 0 0 rg BT 506.89 563.10 Td (ts both ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 551.10 Td (f) Tj ET Q q 0 0 0 rg BT 56.84 551.10 Td (or disclosur) Tj ET Q q 0 0 0 rg BT 103.64 551.10 Td (e and measur) Tj ET Q q 0 0 0 rg BT 158.71 551.10 Td (emen) Tj ET Q q 0 0 0 rg BT 181.81 551.10 Td (t purposes; v) Tj ET Q q 0 0 0 rg BT 234.04 551.10 Td (alua) Tj ET Q q 0 0 0 rg BT 251.08 551.10 Td (tion of s) Tj ET Q q 0 0 0 rg BT 283.90 551.10 Td (t) Tj ET Q q 0 0 0 rg BT 287.15 551.10 Td (ock op) Tj ET Q q 0 0 0 rg BT 313.94 551.10 Td (tions; assessmen) Tj ET Q q 0 0 0 rg BT 382.50 551.10 Td (t of hedg) Tj ET Q q 0 0 0 rg BT 418.80 551.10 Td (e e) Tj ET Q q 0 0 0 rg BT 430.92 551.10 Td (f) Tj ET Q q 0 0 0 rg BT 433.88 551.10 Td (f) Tj ET Q q 0 0 0 rg BT 436.68 551.10 Td (ectiv) Tj ET Q q 0 0 0 rg BT 455.95 551.10 Td (eness; es) Tj ET Q q 0 0 0 rg BT 492.69 551.10 Td (tima) Tj ET Q q 0 0 0 rg BT 511.02 551.10 Td (ting ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 539.10 Td (de) Tj ET Q q 0 0 0 rg BT 64.14 539.10 Td (f) Tj ET Q q 0 0 0 rg BT 66.94 539.10 Td (err) Tj ET Q q 0 0 0 rg BT 78.76 539.10 Td (ed t) Tj ET Q q 0 0 0 rg BT 94.48 539.10 Td (a) Tj ET Q q 0 0 0 rg BT 99.18 539.10 Td (x asse) Tj ET Q q 0 0 0 rg BT 123.30 539.10 Td (ts and liabilities and iden) Tj ET Q q 0 0 0 rg BT 223.94 539.10 Td (tif) Tj ET Q q 0 0 0 rg BT 232.68 539.10 Td (ying the k) Tj ET Q q 0 0 0 rg BT 271.79 539.10 Td (e) Tj ET Q q 0 0 0 rg BT 276.70 539.10 Td (y manag) Tj ET Q q 0 0 0 rg BT 310.93 539.10 Td (emen) Tj ET Q q 0 0 0 rg BT 334.03 539.10 Td (t per) Tj ET Q q 0 0 0 rg BT 353.19 539.10 Td (sonnel f) Tj ET Q q 0 0 0 rg BT 385.25 539.10 Td (or purposes of c) Tj ET Q q 0 0 0 rg BT 450.59 539.10 Td (ompensa) Tj ET Q q 0 0 0 rg BT 487.94 539.10 Td (tion ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 527.10 Td (disclosur) Tj ET Q q 0 0 0 rg BT 89.78 527.10 Td (e. 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548.5 226.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 211.5 m 354.5 211.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 211.5 m 398.5 211.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 211.5 m 418.5 211.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 211.5 m 473.5 211.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 211.5 m 493.5 211.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 211.5 m 548.5 211.5 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 692.65 Td (As at) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 681.05 Td (\(unaudit) Tj ET Q q 0 0 0 rg BT 84.42 681.05 Td (ed\)\(thousands of Canadian dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.25 681.00 Td (Notes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.65 681.00 Td (March 31, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 481.40 681.00 Td (December 31, 2014) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 667.25 Td (ASSETS) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 655.25 Td (Non-current Assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 643.25 Td (Real Estate Investments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 631.25 Td (Investment properties shopping centres) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 373.70 631.25 Td (5) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 410.40 631.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 433.55 631.25 Td (7,479,370) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.40 631.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.80 631.25 Td (7,287,650) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 619.25 Td (Investment properties development land) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 373.70 619.25 Td (5) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 619.25 Td (26,374) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 520.15 619.25 Td (17,008) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 607.25 Td (Investment in joint ventures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 440.45 607.25 Td (176,757) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 515.60 607.25 Td (138,578) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 595.25 Td (Loans, mortgages and other real estate assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 373.70 595.25 Td (6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 440.45 595.25 Td (104,888) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 520.15 595.25 Td (96,231) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 583.25 Td (Total real estate investments) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 433.55 583.25 Td (7,787,389) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.80 583.25 Td (7,539,467) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 571.25 Td (Other non-current assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 373.70 571.25 Td (8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 571.25 Td (19,332) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 520.15 571.25 Td (19,415) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 559.25 Td (Total non-current assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 433.55 559.25 Td (7,806,721) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.80 559.25 Td (7,558,882) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 547.25 Td (Current Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 535.25 Td (Cash and cash equivalents) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.30 535.25 Td (24\(d\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 535.25 Td (23,724) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 520.15 535.25 Td (17,351) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 523.25 Td (Loans, mortgages and other real estate assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 373.70 523.25 Td (6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 523.25 Td (71,297) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 520.15 523.25 Td (79,978) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 511.25 Td (Residential development inventory) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 449.55 511.25 Td (3,974) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 524.75 511.25 Td (3,922) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 499.25 Td (Amounts receivable) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 373.70 499.25 Td (7) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 499.25 Td (20,976) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 520.15 499.25 Td (16,580) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 487.25 Td (Other assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 373.70 487.25 Td (8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 487.25 Td (20,222) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 520.15 487.25 Td (26,338) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 440.45 475.25 Td (140,193) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 515.60 475.25 Td (144,169) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 463.25 Td (Investment properties classified as held for sale) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 368.60 463.25 Td (5\(d\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 463.25 Td (75,596) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 515.60 463.25 Td (205,133) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 451.25 Td (Total current assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 440.45 451.25 Td (215,789) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 515.60 451.25 Td (349,302) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 438.25 Td (Total assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 410.40 438.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 433.55 438.25 Td (8,022,510) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.40 438.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.80 438.25 Td (7,908,184) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 424.25 Td (LIABILITIES) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 412.25 Td (Non-current Liabilities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 400.25 Td (Mortgages and credit facilities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 371.40 400.25 Td (10) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 410.40 400.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 440.45 400.25 Td (884,355) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.40 400.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 515.60 400.25 Td (919,453) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 388.25 Td (Senior unsecured debentures) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 371.40 388.25 Td (11) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 433.55 388.25 Td (2,243,091) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.80 388.25 Td (2,149,174) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 376.25 Td (Convertible debentures) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 371.40 376.25 Td (12) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 440.45 376.25 Td (372,983) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 515.60 376.25 Td (373,277) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 364.25 Td (Other liabilities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 371.40 364.25 Td (13) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 364.25 Td (20,646) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 520.15 364.25 Td (20,555) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 352.25 Td (Deferred tax liabilities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 371.40 352.25 Td (20) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 440.45 352.25 Td (462,100) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 515.60 352.25 Td (453,903) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 340.25 Td (Total non-current liabilities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 433.55 340.25 Td (3,983,175) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.80 340.25 Td (3,916,362) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 328.25 Td (Current Liabilities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 316.25 Td (Current portion of mortgages and credit facilities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 371.40 316.25 Td (10) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 440.45 316.25 Td (209,453) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 515.60 316.25 Td (253,957) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 304.25 Td (Accounts payable and other liabilities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 371.40 304.25 Td (13) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 440.45 304.25 Td (226,473) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 515.60 304.25 Td (240,024) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 292.25 Td (Total current liabilities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 440.45 292.25 Td (435,926) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 515.60 292.25 Td (493,981) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 279.25 Td (Total liabilities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 433.55 279.25 Td (4,419,101) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.80 279.25 Td (4,410,343) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 265.25 Td (EQUITY) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 253.25 Td (Shareholders equity) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 371.40 253.25 Td (14) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 433.55 253.25 Td (3,566,144) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.80 253.25 Td (3,470,271) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 241.25 Td (Non-controlling interest) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 241.25 Td (37,265) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 520.15 241.25 Td (27,570) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 229.25 Td (Total equity) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 433.55 229.25 Td (3,603,409) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.80 229.25 Td (3,497,841) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 216.25 Td (Total liabilities and equity) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 410.40 216.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 433.55 216.25 Td (8,022,510) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.40 216.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.80 216.25 Td (7,908,184) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET q 0 0 0 rg BT 54.00 200.60 Td (R) Tj ET Q q 0 0 0 rg BT 57.68 200.60 Td (e) Tj ET Q q 0 0 0 rg BT 61.10 200.60 Td (f) Tj ET Q q 0 0 0 rg BT 63.06 200.60 Td (er t) Tj ET Q q 0 0 0 rg BT 72.84 200.60 Td (o acc) Tj ET Q q 0 0 0 rg BT 87.33 200.60 Td (ompan) Tj ET Q q 0 0 0 rg BT 107.19 200.60 Td (ying not) Tj ET Q q 0 0 0 rg BT 130.16 200.60 Td (es t) Tj ET Q q 0 0 0 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0.20392156862745098 0.20784313725490197 rg BT 107.19 300.60 Td (ying not) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 130.16 300.60 Td (es t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 140.24 300.60 Td (o the unaudit) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 178.54 300.60 Td (ed in) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 192.51 300.60 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 194.78 300.60 Td (erim c) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 212.38 300.60 Td (onsolida) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 236.36 300.60 Td (t) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 238.63 300.60 Td (ed financial s) Tj ET Q q 0.21176470588235294 0.20392156862745098 0.20784313725490197 rg BT 275.59 300.60 Td (t) Tj ET Q q 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ET Q q 0 0 0 rg BT 496.70 655.63 Td (er) Tj ET Q q 0 0 0 rg BT 502.12 655.63 Td (es) Tj ET Q q 0 0 0 rg BT 507.82 655.63 Td (t) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 542.25 662.13 Td (T) Tj ET Q q 0 0 0 rg BT 544.84 662.13 Td (ot) Tj ET Q q 0 0 0 rg BT 550.37 662.13 Td (al) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 538.45 655.63 Td (E) Tj ET Q q 0 0 0 rg BT 541.53 655.63 Td (quity) Tj ET Q BT /F4 7.50 Tf ET q 0 0 0 rg BT 338.05 643.13 Td (\(Note 14\(a\)\)) Tj ET Q BT /F4 7.50 Tf ET q 0 0 0 rg BT 383.05 643.13 Td (\(Note 14\(b\)\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 57.00 622.63 Td (December 31, 2014) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 239.00 622.63 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 250.25 622.63 Td (833,298) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 284.00 622.63 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 308.25 622.63 Td (\(9,070) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 330.35 622.63 Td (\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 336.00 622.63 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 340.80 622.63 Td (2,600,605) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 381.00 622.63 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 396.60 622.63 Td (45,438) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 426.00 622.63 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 430.80 622.63 Td (3,470,271) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 471.00 622.63 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 486.60 622.63 Td (27,570) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 516.00 622.63 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 520.80 622.63 Td (3,497,841) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 57.00 609.63 Td (Changes during the period:) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 63.00 596.63 Td (Net income) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 254.65 596.63 Td (45,901) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 322.65 596.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 367.65 596.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 412.65 596.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 441.65 596.63 Td (45,901) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 501.70 596.63 Td (55) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 531.65 596.63 Td (45,956) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 63.00 583.13 Td (Issuance of common shares) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 270.65 583.13 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 322.65 583.13 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 351.65 583.13 Td (87,753) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 412.65 583.13 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 441.65 583.13 Td (87,753) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 502.65 583.13 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 531.65 583.13 Td (87,753) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 63.00 569.13 Td (Issue costs, net of tax and other) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 270.65 569.13 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 322.65 569.13 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 353.40 569.13 Td (\(2,757) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 375.35 569.13 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 412.65 569.13 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 443.40 569.13 Td (\(2,757) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 465.35 569.13 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 502.65 569.13 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 533.40 569.13 Td (\(2,757) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 555.35 569.13 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 63.00 555.63 Td (Dividends) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 252.10 555.63 Td (\(47,759) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 278.35 555.63 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 322.65 555.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 367.65 555.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 412.65 555.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 439.10 555.63 Td (\(47,759) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 465.35 555.63 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 502.65 555.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 529.10 555.63 Td (\(47,759) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 555.35 555.63 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 63.00 542.63 Td (Convertible debentures, net) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 270.65 542.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 322.65 542.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 355.95 542.63 Td (9,835) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 411.70 542.63 Td (16) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 445.95 542.63 Td (9,851) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 502.65 542.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 535.95 542.63 Td (9,851) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 63.00 529.63 Td (Op) Tj ET Q q 0 0 0 rg BT 73.06 529.63 Td (tions, de) Tj ET Q q 0 0 0 rg BT 102.79 529.63 Td (f) Tj ET Q q 0 0 0 rg BT 105.17 529.63 Td (err) Tj ET Q q 0 0 0 rg BT 115.22 529.63 Td (ed shar) Tj ET Q q 0 0 0 rg BT 140.55 529.63 Td (e units and ) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 72.00 521.13 Td (r) Tj ET Q q 0 0 0 rg BT 74.85 521.13 Td (es) Tj ET Q q 0 0 0 rg BT 82.31 521.13 Td (trict) Tj ET Q q 0 0 0 rg BT 96.42 521.13 Td (ed shar) Tj ET Q q 0 0 0 rg BT 121.75 521.13 Td (e units, ne) Tj ET Q q 0 0 0 rg BT 157.65 521.13 Td (t) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 270.65 529.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 322.65 529.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 351.65 529.63 Td (10,037) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 404.80 529.63 Td (\(687) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 420.35 529.63 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 445.95 529.63 Td (9,350) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 502.65 529.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 535.95 529.63 Td (9,350) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 63.00 508.63 Td (Other comprehensive loss) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 270.65 508.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 308.40 508.63 Td (\(6,466) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 330.35 508.63 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 367.65 508.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 412.65 508.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 443.40 508.63 Td (\(6,466) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 465.35 508.63 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 502.65 508.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 533.40 508.63 Td (\(6,466) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 555.35 508.63 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 63.00 494.13 Td (Contributions from non-controlling interest) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 270.65 494.13 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 322.65 494.13 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 367.65 494.13 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 412.65 494.13 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 457.65 494.13 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 490.95 494.13 Td (9,640) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 535.95 494.13 Td (9,640) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 57.00 479.13 Td (March 31, 2015) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 239.00 479.13 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 250.25 479.13 Td (831,440) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 284.00 479.13 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 303.95 479.13 Td (\(15,536) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 330.35 479.13 Td (\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 336.00 479.13 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 340.80 479.13 Td (2,705,473) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 381.00 479.13 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 396.60 479.13 Td (44,767) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 426.00 479.13 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 430.80 479.13 Td (3,566,144) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 471.00 479.13 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 486.60 479.13 Td (37,265) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 516.00 479.13 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 520.80 479.13 Td (3,603,409) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 56.5 452.5 m 238.5 452.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 56.5 419.5 m 238.5 419.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 452.5 m 280.5 452.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 238.5 419.5 m 280.5 419.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 452.5 m 329.5 452.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 280.5 419.5 m 329.5 419.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 452.5 m 374.5 452.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 329.5 419.5 m 374.5 419.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 452.5 m 419.5 452.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 374.5 419.5 m 419.5 419.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 452.5 m 464.5 452.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 419.5 m 464.5 419.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464.5 452.5 m 509.5 452.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 464.5 419.5 m 509.5 419.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 452.5 m 554.5 452.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509.5 419.5 m 554.5 419.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 56.5 289.5 m 238.5 289.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 56.5 274.5 m 238.5 274.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 238.5 289.5 m 280.5 289.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 274.5 m 280.5 274.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 280.5 289.5 m 329.5 289.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 274.5 m 329.5 274.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 329.5 289.5 m 374.5 289.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 274.5 m 374.5 274.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 374.5 289.5 m 419.5 289.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 274.5 m 419.5 274.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 289.5 m 464.5 289.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 274.5 m 464.5 274.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 464.5 289.5 m 509.5 289.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464.5 274.5 m 509.5 274.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509.5 289.5 m 554.5 289.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 274.5 m 554.5 274.5 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 59.00 424.00 Td (\(unaudited\)\(thousands of Canadian dollars\)) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 253.60 430.13 Td (Retained) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 254.60 423.63 Td (Earnings) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 291.40 443.13 Td (Accumulated) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 310.60 436.63 Td (Other) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 284.85 430.13 Td (Comprehensive) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 314.75 423.63 Td (Loss) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 336.40 423.63 Td (Share Capital) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 384.20 443.13 Td (Contributed) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 385.05 436.63 Td (Surplus and) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 382.60 430.13 Td (Other Equity) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 401.25 423.63 Td (Items) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 448.25 436.63 Td (T) Tj ET Q q 0 0 0 rg BT 450.84 436.63 Td (ot) Tj ET Q q 0 0 0 rg BT 456.37 436.63 Td (al ) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 424.75 430.13 Td (Shar) Tj ET Q q 0 0 0 rg BT 436.45 430.13 Td (eholder) Tj ET Q q 0 0 0 rg BT 456.82 430.13 Td (s ) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 444.45 423.63 Td (E) Tj ET Q q 0 0 0 rg BT 447.53 423.63 Td (quity) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 492.95 436.63 Td (Non- ) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 477.00 430.13 Td (Con) Tj ET Q q 0 0 0 rg BT 487.25 430.13 Td (tr) Tj ET Q q 0 0 0 rg BT 491.59 430.13 Td (olling ) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 485.60 423.63 Td (In) Tj ET Q q 0 0 0 rg BT 490.59 423.63 Td (t) Tj ET Q q 0 0 0 rg BT 492.70 423.63 Td (er) Tj ET Q q 0 0 0 rg BT 498.12 423.63 Td (es) Tj ET Q q 0 0 0 rg BT 503.82 423.63 Td (t) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 538.25 430.13 Td (T) Tj ET Q q 0 0 0 rg BT 540.84 430.13 Td (ot) Tj ET Q q 0 0 0 rg BT 546.37 430.13 Td (al) Tj ET Q BT /F3 6.50 Tf ET q 0 0 0 rg BT 534.45 423.63 Td (E) Tj ET Q q 0 0 0 rg BT 537.53 423.63 Td (quity) Tj ET Q BT /F4 7.50 Tf ET q 0 0 0 rg BT 334.05 411.38 Td (\(Note 14\(a\)\)) Tj ET Q BT /F4 7.50 Tf ET q 0 0 0 rg BT 379.05 411.38 Td (\(Note 14\(b\)\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 59.00 393.63 Td (December 31, 2013) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 241.00 393.63 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 249.40 393.63 Td (817,867) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 283.00 393.63 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 310.85 393.63 Td (\(407) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 326.40 393.63 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 332.00 393.63 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 337.00 393.63 Td (2,457,310) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 377.00 393.63 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 392.70 393.63 Td (44,600) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 422.00 393.63 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 427.00 393.63 Td (3,319,370) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 467.00 393.63 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 487.00 393.63 Td (3,638) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 512.00 393.63 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 517.00 393.63 Td (3,323,008) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 59.00 380.63 Td (Changes during the period:) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 65.00 367.63 Td (Net income) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 253.70 367.63 Td (35,214) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 318.70 367.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 363.70 367.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 408.70 367.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 437.70 367.63 Td (35,214) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 490.85 367.63 Td (\(305) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 506.40 367.63 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 527.70 367.63 Td (34,909) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 65.00 354.13 Td (Issue costs, net of tax and other) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 269.70 354.13 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 318.70 354.13 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 364.50 354.13 Td (\(5) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 371.40 354.13 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 408.70 354.13 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 454.50 354.13 Td (\(5) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 461.40 354.13 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 498.70 354.13 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 544.50 354.13 Td (\(5) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 551.40 354.13 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 65.00 340.63 Td (Dividends) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 251.15 340.63 Td (\(43,967) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 277.40 340.63 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 318.70 340.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 363.70 340.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 408.70 340.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 435.15 340.63 Td (\(43,967) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 461.40 340.63 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 498.70 340.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 525.15 340.63 Td (\(43,967) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 551.40 340.63 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 65.00 328.63 Td (Convertible debentures, net) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 269.70 327.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 318.70 327.63 Td () Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 352.00 327.63 Td 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of joint ventures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 456.75 561.25 Td (\(5,919) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 561.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.80 561.25 Td (\(685) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 561.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 548.25 Td (Distribution from joint ventures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.45 548.25 Td (622) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 548.25 Td (484) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 535.25 Td (Items not affecting cash and other items) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.05 535.25 Td (24\(a\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 535.25 Td (11,090) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 535.25 Td (8,140) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 522.25 Td (Net change in non-cash operating items) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 403.80 522.25 Td (24\(b\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.20 522.25 Td (\(16,102) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 522.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.45 522.25 Td (\(16,898) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 522.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 509.25 Td (Receipts of proceeds from sales of residential inventory) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.00 509.25 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 509.25 Td (27,711) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 496.25 Td (Expenditures on residential development inventory) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.20 496.25 Td (\(52) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 496.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 496.25 Td (\(3,627) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 496.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 483.25 Td (Cash provided by operating activities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 483.25 Td (37,648) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 483.25 Td (70,131) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 470.25 Td (FINANCING ACTIVITIES) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 457.25 Td (Mortgage financings and credit facilities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 444.25 Td (Borrowings, net of financing costs) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.00 444.25 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.10 444.25 Td (33) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 430.25 Td (Principal instalment payments) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 456.75 430.25 Td (\(8,324) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 430.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 430.25 Td (\(9,249) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 430.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 416.25 Td (Repayments) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.20 416.25 Td (\(70,480) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 416.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.90 416.25 Td (\(106,065) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 416.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 403.25 Td (Repayment of mortgage and loans on residential development inventory and other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 456.75 403.25 Td (\(3,572) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 403.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 403.25 Td (\(8,631) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 403.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 390.25 Td (Issuance of senior unsecured debentures, net of issue costs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 408.90 390.25 Td (11) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 390.25 Td (93,573) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.60 390.25 Td (301,938) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 377.25 Td (Purchase of convertible debentures) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 403.80 377.25 Td (12\(b\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 456.75 377.25 Td (\(1,326) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 377.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.35 377.25 Td (\(15) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 377.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 364.25 Td (Issuance of common shares, net of issue costs) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 364.25 Td (92,467) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 364.25 Td (3,040) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 351.25 Td (Payment of dividends) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.20 351.25 Td (\(46,520) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 351.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.45 351.25 Td (\(43,755) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 351.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 338.25 Td (Contributions from non-controlling interest) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 338.25 Td (9,640) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.10 338.25 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 325.25 Td (Cash provided by financing activities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 325.25 Td (65,458) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.60 325.25 Td (137,296) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 312.25 Td (INVESTING ACTIVITIES) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 299.25 Td (Acquisition of shopping centres) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 406.55 299.25 Td (5\(c\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.20 299.25 Td (\(25,209) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 299.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.45 299.25 Td (\(53,498) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 299.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 286.25 Td (Acquisition of development land) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 406.55 286.25 Td (5\(c\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.00 286.25 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 286.25 Td (\(3,555) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 286.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 273.25 Td (Net proceeds from property dispositions) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 406.10 273.25 Td (5\(d\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 273.25 Td (21,116) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 273.25 Td (3,938) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 260.25 Td (Contributions to joint ventures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.20 260.25 Td (\(32,882) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 260.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.10 260.25 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 247.25 Td (Capital expenditures on investment properties) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.20 247.25 Td (\(66,923) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 247.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.45 247.25 Td (\(40,169) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 247.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 234.25 Td (Changes in investing-related prepaid expenses and other liabilities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 234.25 Td (5,859) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.45 234.25 Td (\(15,148) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 234.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 220.25 Td (Changes in loans, mortgages and other real estate assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.30 220.25 Td (24\(c\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 220.25 Td (1,306) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.45 220.25 Td (\(10,840) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 220.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 207.25 Td (Cash used in investing activities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.20 207.25 Td (\(96,733) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 207.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.90 207.25 Td (\(119,272) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 207.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 194.25 Td (Net increase in cash and cash equivalents) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 194.25 Td (6,373) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 194.25 Td (88,155) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 181.25 Td (Cash and cash equivalents, beginning of period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 181.25 Td (17,351) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 181.25 Td (4,975) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 167.25 Td (Cash and cash equivalents, end of period) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 403.80 167.25 Td (24\(d\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 167.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 167.25 Td (23,724) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 167.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 167.25 Td (93,130) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET q 0 0 0 rg BT 54.00 152.60 Td (R) Tj ET Q q 0 0 0 rg BT 57.68 152.60 Td (e) Tj ET Q q 0 0 0 rg BT 61.10 152.60 Td (f) Tj ET Q q 0 0 0 rg BT 63.06 152.60 Td (er t) Tj ET Q q 0 0 0 rg BT 72.84 152.60 Td (o acc) Tj ET Q q 0 0 0 rg BT 87.33 152.60 Td (ompan) Tj ET Q q 0 0 0 rg BT 107.19 152.60 Td (ying not) Tj ET Q q 0 0 0 rg BT 130.16 152.60 Td (es t) Tj ET Q q 0 0 0 rg BT 140.24 152.60 Td (o the unaudit) Tj ET Q q 0 0 0 rg BT 178.54 152.60 Td (ed in) Tj ET Q q 0 0 0 rg BT 192.51 152.60 Td (t) Tj ET Q q 0 0 0 rg BT 194.78 152.60 Td (erim c) Tj ET Q q 0 0 0 rg BT 212.38 152.60 Td (onsolida) Tj ET Q q 0 0 0 rg BT 236.36 152.60 Td (t) Tj ET Q q 0 0 0 rg BT 238.63 152.60 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 275.59 152.60 Td (t) Tj ET Q q 0 0 0 rg BT 277.85 152.60 Td (a) Tj ET Q q 0 0 0 rg BT 281.14 152.60 Td (t) Tj ET Q q 0 0 0 rg BT 283.41 152.60 Td (emen) Tj ET Q q 0 0 0 rg BT 299.58 152.60 Td (ts.) Tj ET Q endstream endobj 127 0 obj <> endobj 128 0 obj <> stream BT /F2 22.00 Tf ET q 0 0 0 rg BT 55.00 736.60 Td (Not) Tj ET Q q 0 0 0 rg BT 88.68 736.60 Td (es t) Tj ET Q q 0 0 0 rg BT 120.91 736.60 Td (o the In) Tj ET Q q 0 0 0 rg BT 190.66 736.60 Td (t) Tj ET Q q 0 0 0 rg BT 198.02 736.60 Td (erim Consolida) Tj ET Q q 0 0 0 rg BT 334.34 736.60 Td (t) Tj ET Q q 0 0 0 rg BT 341.70 736.60 Td (ed Financial St) Tj ET Q q 0 0 0 rg BT 473.18 736.60 Td (a) Tj ET Q q 0 0 0 rg BT 483.84 736.60 Td (t) Tj ET Q q 0 0 0 rg BT 491.20 736.60 Td (emen) Tj ET Q q 0 0 0 rg BT 542.85 736.60 Td (ts ) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (62) Tj ET Q BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 671.95 Td (1) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 61.10 671.95 Td (. DE) Tj ET Q q 0 0 0 rg BT 83.52 671.95 Td (SCRIP) Tj ET Q q 0 0 0 rg BT 116.57 671.95 Td (TION OF THE C) Tj ET Q q 0 0 0 rg BT 201.21 671.95 Td (OMP) Tj ET Q q 0 0 0 rg BT 229.42 671.95 Td (ANY) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 653.95 Td (Fir) Tj ET Q q 0 0 0 rg BT 64.21 653.95 Td (s) Tj ET Q q 0 0 0 rg BT 68.00 653.95 Td (t Capit) Tj ET Q q 0 0 0 rg BT 94.51 653.95 Td (al R) Tj ET Q q 0 0 0 rg BT 109.11 653.95 Td (ealty Inc. \(the Compan) Tj ET Q q 0 0 0 rg BT 204.86 653.95 Td (y) Tj ET Q q 0 0 0 rg BT 209.69 653.95 Td (\) is a c) Tj ET Q q 0 0 0 rg BT 238.83 653.95 Td (orpor) Tj ET Q q 0 0 0 rg BT 261.40 653.95 Td (a) Tj ET Q q 0 0 0 rg BT 266.09 653.95 Td (tion e) Tj ET Q q 0 0 0 rg BT 289.35 653.95 Td (xis) Tj ET Q q 0 0 0 rg BT 299.78 653.95 Td (ting under the la) Tj ET Q q 0 0 0 rg BT 366.98 653.95 Td (w) Tj ET Q q 0 0 0 rg BT 374.04 653.95 Td (s of On) Tj ET Q q 0 0 0 rg BT 402.58 653.95 Td (t) Tj ET Q q 0 0 0 rg BT 405.81 653.95 Td (ario) Tj ET Q q 0 0 0 rg BT 421.48 653.95 Td (, Canada, and eng) Tj ET Q q 0 0 0 rg BT 493.51 653.95 Td (ag) Tj ET Q q 0 0 0 rg BT 502.92 653.95 Td (es in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 641.95 Td (business of acquiring) Tj ET Q q 0 0 0 rg BT 139.29 641.95 Td (, de) Tj ET Q q 0 0 0 rg BT 154.22 641.95 Td (v) Tj ET Q q 0 0 0 rg BT 158.64 641.95 Td (eloping) Tj ET Q q 0 0 0 rg BT 188.81 641.95 Td (, r) Tj ET Q q 0 0 0 rg BT 196.92 641.95 Td (ede) Tj ET Q q 0 0 0 rg BT 212.08 641.95 Td (v) Tj ET Q q 0 0 0 rg BT 216.50 641.95 Td (eloping) Tj ET Q q 0 0 0 rg BT 246.66 641.95 Td (, o) Tj ET Q q 0 0 0 rg BT 256.65 641.95 Td (wning and managing w) Tj ET Q q 0 0 0 rg BT 350.24 641.95 Td (ell-loc) Tj ET Q q 0 0 0 rg BT 374.58 641.95 Td (a) Tj ET Q q 0 0 0 rg BT 379.27 641.95 Td (t) Tj ET Q q 0 0 0 rg BT 382.52 641.95 Td (ed, high quality urban r) Tj ET Q q 0 0 0 rg BT 476.95 641.95 Td (e) Tj ET Q q 0 0 0 rg BT 481.87 641.95 Td (t) Tj ET Q q 0 0 0 rg BT 485.10 641.95 Td (ail-cen) Tj ET Q q 0 0 0 rg BT 511.91 641.95 Td (t) Tj ET Q q 0 0 0 rg BT 515.15 641.95 Td (er) Tj ET Q q 0 0 0 rg BT 523.48 641.95 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 629.95 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 629.95 Td (operties. 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Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 589.15 Td (2) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 61.10 589.15 Td (. SIGNIFICANT A) Tj ET Q q 0 0 0 rg BT 153.91 589.15 Td (CC) Tj ET Q q 0 0 0 rg BT 168.63 589.15 Td (OUNTING POLICIE) Tj ET Q q 0 0 0 rg BT 272.84 589.15 Td (S) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 565.75 Td (\(a\) St) Tj ET Q q 0 0 0 rg BT 79.83 565.75 Td (a) Tj ET Q q 0 0 0 rg BT 85.64 565.75 Td (t) Tj ET Q q 0 0 0 rg BT 89.65 565.75 Td (emen) Tj ET Q q 0 0 0 rg BT 117.83 565.75 Td (t of c) Tj ET Q q 0 0 0 rg BT 142.62 565.75 Td (ompliance) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 550.75 Td (These unaudit) Tj ET Q q 0 0 0 rg BT 111.59 550.75 Td (ed in) Tj ET Q q 0 0 0 rg BT 131.54 550.75 Td (t) Tj ET Q q 0 0 0 rg BT 134.78 550.75 Td (erim c) Tj ET Q q 0 0 0 rg BT 159.93 550.75 Td (onsolida) Tj ET Q q 0 0 0 rg BT 194.19 550.75 Td (t) Tj ET Q q 0 0 0 rg BT 197.43 550.75 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 250.23 550.75 Td (t) Tj ET Q q 0 0 0 rg BT 253.46 550.75 Td (a) Tj ET Q q 0 0 0 rg BT 258.16 550.75 Td (t) Tj ET Q q 0 0 0 rg BT 261.40 550.75 Td (emen) Tj ET Q q 0 0 0 rg BT 284.50 550.75 Td (ts ha) Tj ET Q q 0 0 0 rg BT 303.90 550.75 Td (v) Tj ET Q q 0 0 0 rg BT 308.32 550.75 Td (e been pr) Tj ET Q q 0 0 0 rg BT 346.88 550.75 Td (epar) Tj ET Q q 0 0 0 rg BT 365.25 550.75 Td (ed in acc) Tj ET Q q 0 0 0 rg BT 400.72 550.75 Td (or) Tj ET Q q 0 0 0 rg BT 409.34 550.75 Td (dance with IAS 34, In) Tj ET Q q 0 0 0 rg BT 498.33 550.75 Td (t) Tj ET Q q 0 0 0 rg BT 501.57 550.75 Td (erim ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 538.75 Td (Financial R) Tj ET Q q 0 0 0 rg BT 97.31 538.75 Td (eporting) Tj ET Q q 0 0 0 rg BT 132.31 538.75 Td ( as issued b) Tj ET Q q 0 0 0 rg BT 182.78 538.75 Td (y the In) Tj ET Q q 0 0 0 rg BT 213.09 538.75 Td (t) Tj ET Q q 0 0 0 rg BT 216.33 538.75 Td (erna) Tj ET Q q 0 0 0 rg BT 234.75 538.75 Td (tional Acc) Tj ET Q q 0 0 0 rg BT 274.42 538.75 Td (oun) Tj ET Q q 0 0 0 rg BT 290.11 538.75 Td (ting St) Tj ET Q q 0 0 0 rg BT 315.80 538.75 Td (andar) Tj ET Q q 0 0 0 rg BT 339.24 538.75 Td (ds Boar) Tj ET Q q 0 0 0 rg BT 369.52 538.75 Td (d \(IASB\), and as such, do not include all of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 526.75 Td (the disclosur) Tj ET Q q 0 0 0 rg BT 105.62 526.75 Td (es tha) Tj ET Q q 0 0 0 rg BT 130.06 526.75 Td (t w) Tj ET Q q 0 0 0 rg BT 142.73 526.75 Td (ould be included in annual c) Tj ET Q q 0 0 0 rg BT 256.48 526.75 Td (onsolida) Tj ET Q q 0 0 0 rg BT 290.73 526.75 Td (t) Tj ET Q q 0 0 0 rg BT 293.98 526.75 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 346.78 526.75 Td (t) Tj ET Q q 0 0 0 rg BT 350.01 526.75 Td (a) Tj ET Q q 0 0 0 rg BT 354.70 526.75 Td (t) Tj ET Q q 0 0 0 rg BT 357.95 526.75 Td (emen) Tj ET Q q 0 0 0 rg BT 381.05 526.75 Td (ts. These unaudit) Tj ET Q q 0 0 0 rg BT 450.68 526.75 Td (ed in) Tj ET Q q 0 0 0 rg BT 470.63 526.75 Td (t) Tj ET Q q 0 0 0 rg BT 473.87 526.75 Td (erim c) Tj ET Q q 0 0 0 rg BT 499.02 526.75 Td (onsolida) Tj ET Q q 0 0 0 rg BT 533.28 526.75 Td (t) Tj ET Q q 0 0 0 rg BT 536.52 526.75 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 514.75 Td (financial s) Tj ET Q q 0 0 0 rg BT 94.31 514.75 Td (t) Tj ET Q q 0 0 0 rg BT 97.54 514.75 Td (a) Tj ET Q q 0 0 0 rg BT 102.24 514.75 Td (t) Tj ET Q q 0 0 0 rg BT 105.48 514.75 Td (emen) Tj ET Q q 0 0 0 rg BT 128.58 514.75 Td (ts should be r) Tj ET Q q 0 0 0 rg BT 183.45 514.75 Td (ead in c) Tj ET Q q 0 0 0 rg BT 214.68 514.75 Td (onjunction with the Compan) Tj ET Q q 0 0 0 rg BT 330.63 514.75 Td (y) Tj ET Q q 0 0 0 rg BT 335.46 514.75 Td () Tj ET Q q 0 0 0 rg BT 337.34 514.75 Td (s audit) Tj ET Q q 0 0 0 rg BT 364.35 514.75 Td (ed annual c) Tj ET Q q 0 0 0 rg BT 410.88 514.75 Td (onsolida) Tj ET Q q 0 0 0 rg BT 445.13 514.75 Td (t) Tj ET Q q 0 0 0 rg BT 448.38 514.75 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 501.18 514.75 Td (t) Tj ET Q q 0 0 0 rg BT 504.41 514.75 Td (a) Tj ET Q q 0 0 0 rg BT 509.10 514.75 Td (t) Tj ET Q q 0 0 0 rg BT 512.34 514.75 Td (emen) Tj ET Q q 0 0 0 rg BT 535.45 514.75 Td (ts ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 502.75 Td (f) Tj ET Q q 0 0 0 rg BT 56.84 502.75 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 83.70 502.75 Td (y) Tj ET Q q 0 0 0 rg BT 88.11 502.75 Td (ear) Tj ET Q q 0 0 0 rg BT 101.19 502.75 Td (s ended December 31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 214.80 502.75 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 234.62 502.75 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 254.89 502.75 Td (. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 479.35 Td (\(b\) Basis of pr) Tj ET Q q 0 0 0 rg BT 122.04 479.35 Td (esen) Tj ET Q q 0 0 0 rg BT 145.24 479.35 Td (t) Tj ET Q q 0 0 0 rg BT 149.29 479.35 Td (a) Tj ET Q q 0 0 0 rg BT 155.10 479.35 Td (tion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 464.35 Td (These unaudit) Tj ET Q q 0 0 0 rg BT 111.59 464.35 Td (ed in) Tj ET Q q 0 0 0 rg BT 131.54 464.35 Td (t) Tj ET Q q 0 0 0 rg BT 134.78 464.35 Td (erim c) Tj ET Q q 0 0 0 rg BT 159.93 464.35 Td (onsolida) Tj ET Q q 0 0 0 rg BT 194.19 464.35 Td (t) Tj ET Q q 0 0 0 rg BT 197.43 464.35 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 250.23 464.35 Td (t) Tj ET Q q 0 0 0 rg BT 253.46 464.35 Td (a) Tj ET Q q 0 0 0 rg BT 258.16 464.35 Td (t) Tj ET Q q 0 0 0 rg BT 261.40 464.35 Td (emen) Tj ET Q q 0 0 0 rg BT 284.50 464.35 Td (ts ar) Tj ET Q q 0 0 0 rg BT 302.16 464.35 Td (e pr) Tj ET Q q 0 0 0 rg BT 318.01 464.35 Td (epar) Tj ET Q q 0 0 0 rg BT 336.38 464.35 Td (ed on a g) Tj ET Q q 0 0 0 rg BT 373.35 464.35 Td (oing c) Tj ET Q q 0 0 0 rg BT 397.29 464.35 Td (oncern basis and ha) Tj ET Q q 0 0 0 rg BT 477.88 464.35 Td (v) Tj ET Q q 0 0 0 rg BT 482.30 464.35 Td (e been ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 452.35 Td (pr) Tj ET Q q 0 0 0 rg BT 62.61 452.35 Td (esen) Tj ET Q q 0 0 0 rg BT 81.63 452.35 Td (t) Tj ET Q q 0 0 0 rg BT 84.87 452.35 Td (ed in Canadian dollar) Tj ET Q q 0 0 0 rg BT 170.42 452.35 Td (s r) Tj ET Q q 0 0 0 rg BT 179.91 452.35 Td (ounded t) Tj ET Q q 0 0 0 rg BT 216.69 452.35 Td (o the near) Tj ET Q q 0 0 0 rg BT 258.44 452.35 Td (es) Tj ET Q q 0 0 0 rg BT 267.21 452.35 Td (t thousand, unless other) Tj ET Q q 0 0 0 rg BT 366.17 452.35 Td (wise indic) Tj ET Q q 0 0 0 rg BT 406.01 452.35 Td (a) Tj ET Q q 0 0 0 rg BT 410.70 452.35 Td (t) Tj ET Q q 0 0 0 rg BT 413.95 452.35 Td (ed. These unaudit) Tj ET Q q 0 0 0 rg BT 486.55 452.35 Td (ed in) Tj ET Q q 0 0 0 rg BT 506.50 452.35 Td (t) Tj ET Q q 0 0 0 rg BT 509.74 452.35 Td (erim ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 440.35 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 440.35 Td (onsolida) Tj ET Q q 0 0 0 rg BT 92.40 440.35 Td (t) Tj ET Q q 0 0 0 rg BT 95.64 440.35 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 148.44 440.35 Td (t) Tj ET Q q 0 0 0 rg BT 151.67 440.35 Td (a) Tj ET Q q 0 0 0 rg BT 156.37 440.35 Td (t) Tj ET Q q 0 0 0 rg BT 159.61 440.35 Td (emen) Tj ET Q q 0 0 0 rg BT 182.71 440.35 Td (ts ha) Tj ET Q q 0 0 0 rg BT 202.11 440.35 Td (v) Tj ET Q q 0 0 0 rg BT 206.53 440.35 Td (e been pr) Tj ET Q q 0 0 0 rg BT 245.09 440.35 Td (epar) Tj ET Q q 0 0 0 rg BT 263.47 440.35 Td (ed b) Tj ET Q q 0 0 0 rg BT 281.16 440.35 Td (y applying the same acc) Tj ET Q q 0 0 0 rg BT 377.52 440.35 Td (oun) Tj ET Q q 0 0 0 rg BT 393.20 440.35 Td (ting policies, assessmen) Tj ET Q q 0 0 0 rg BT 489.89 440.35 Td (ts of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 428.35 Td (es) Tj ET Q q 0 0 0 rg BT 62.77 428.35 Td (tima) Tj ET Q q 0 0 0 rg BT 81.10 428.35 Td (t) Tj ET Q q 0 0 0 rg BT 84.35 428.35 Td (es and judgmen) Tj ET Q q 0 0 0 rg BT 148.79 428.35 Td (ts, and me) Tj ET Q q 0 0 0 rg BT 191.27 428.35 Td (thods of c) Tj ET Q q 0 0 0 rg BT 231.30 428.35 Td (omput) Tj ET Q q 0 0 0 rg BT 258.30 428.35 Td (a) Tj ET Q q 0 0 0 rg BT 263.00 428.35 Td (tion as c) Tj ET Q q 0 0 0 rg BT 296.54 428.35 Td (ompar) Tj ET Q q 0 0 0 rg BT 323.20 428.35 Td (ed with the mos) Tj ET Q q 0 0 0 rg BT 388.90 428.35 Td (t r) Tj ET Q q 0 0 0 rg BT 397.86 428.35 Td (ecen) Tj ET Q q 0 0 0 rg BT 417.20 428.35 Td (t audit) Tj ET Q q 0 0 0 rg BT 443.65 428.35 Td (ed annual c) Tj ET Q q 0 0 0 rg BT 490.18 428.35 Td (onsolida) Tj ET Q q 0 0 0 rg BT 524.43 428.35 Td (t) Tj ET Q q 0 0 0 rg BT 527.68 428.35 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 416.35 Td (financial s) Tj ET Q q 0 0 0 rg BT 94.31 416.35 Td (t) Tj ET Q q 0 0 0 rg BT 97.54 416.35 Td (a) Tj ET Q q 0 0 0 rg BT 102.24 416.35 Td (t) Tj ET Q q 0 0 0 rg BT 105.48 416.35 Td (emen) Tj ET Q q 0 0 0 rg BT 128.58 416.35 Td (ts, e) Tj ET Q q 0 0 0 rg BT 145.42 416.35 Td (x) Tj ET Q q 0 0 0 rg BT 149.53 416.35 Td (cep) Tj ET Q q 0 0 0 rg BT 163.94 416.35 Td (t f) Tj ET Q q 0 0 0 rg BT 172.39 416.35 Td (or those it) Tj ET Q q 0 0 0 rg BT 213.98 416.35 Td (ems iden) Tj ET Q q 0 0 0 rg BT 250.80 416.35 Td (tified in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 284.09 416.35 Td (Not) Tj ET Q q 0 0 0 rg BT 299.06 416.35 Td (e 3 Chang) Tj ET Q q 0 0 0 rg BT 350.30 416.35 Td (e in Acc) Tj ET Q q 0 0 0 rg BT 381.51 416.35 Td (oun) Tj ET Q q 0 0 0 rg BT 397.20 416.35 Td (ting P) Tj ET Q q 0 0 0 rg BT 420.03 416.35 Td (olicies) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 448.54 416.35 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 398.35 Td (Compar) Tj ET Q q 0 0 0 rg BT 85.92 398.35 Td (a) Tj ET Q q 0 0 0 rg BT 90.62 398.35 Td (tiv) Tj ET Q q 0 0 0 rg BT 100.68 398.35 Td (e in) Tj ET Q q 0 0 0 rg BT 115.41 398.35 Td (f) Tj ET Q q 0 0 0 rg BT 118.25 398.35 Td (orma) Tj ET Q q 0 0 0 rg BT 139.69 398.35 Td (tion in the unaudit) Tj ET Q q 0 0 0 rg BT 215.12 398.35 Td (ed in) Tj ET Q q 0 0 0 rg BT 235.06 398.35 Td (t) Tj ET Q q 0 0 0 rg BT 238.31 398.35 Td (erim c) Tj ET Q q 0 0 0 rg BT 263.46 398.35 Td (onsolida) Tj ET Q q 0 0 0 rg BT 297.71 398.35 Td (t) Tj ET Q q 0 0 0 rg BT 300.95 398.35 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 353.76 398.35 Td (t) Tj ET Q q 0 0 0 rg BT 356.98 398.35 Td (a) Tj ET Q q 0 0 0 rg BT 361.68 398.35 Td (t) Tj ET Q q 0 0 0 rg BT 364.92 398.35 Td (emen) Tj ET Q q 0 0 0 rg BT 388.02 398.35 Td (ts includes r) Tj ET Q q 0 0 0 rg BT 436.63 398.35 Td (eclassific) Tj ET Q q 0 0 0 rg BT 472.53 398.35 Td (a) Tj ET Q q 0 0 0 rg BT 477.22 398.35 Td (tion of cert) Tj ET Q q 0 0 0 rg BT 522.16 398.35 Td (ain ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 386.35 Td (balances t) Tj ET Q q 0 0 0 rg BT 95.01 386.35 Td (o pr) Tj ET Q q 0 0 0 rg BT 111.12 386.35 Td (o) Tj ET Q q 0 0 0 rg BT 116.35 386.35 Td (vide c) Tj ET Q q 0 0 0 rg BT 139.80 386.35 Td (onsis) Tj ET Q q 0 0 0 rg BT 160.33 386.35 Td (t) Tj ET Q q 0 0 0 rg BT 163.58 386.35 Td (ency with curr) Tj ET Q q 0 0 0 rg BT 221.45 386.35 Td (en) Tj ET Q q 0 0 0 rg BT 231.59 386.35 Td (t period classific) Tj ET Q q 0 0 0 rg BT 296.92 386.35 Td (a) Tj ET Q q 0 0 0 rg BT 301.62 386.35 Td (tion. The curr) Tj ET Q q 0 0 0 rg BT 356.26 386.35 Td (en) Tj ET Q q 0 0 0 rg BT 366.40 386.35 Td (t period classific) Tj ET Q q 0 0 0 rg BT 431.73 386.35 Td (a) Tj ET Q q 0 0 0 rg BT 436.43 386.35 Td (tion mor) Tj ET Q q 0 0 0 rg BT 471.48 386.35 Td (e appr) Tj ET Q q 0 0 0 rg BT 497.33 386.35 Td (opria) Tj ET Q q 0 0 0 rg BT 518.34 386.35 Td (t) Tj ET Q q 0 0 0 rg BT 521.58 386.35 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 374.35 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 374.35 Td (e) Tj ET Q q 0 0 0 rg BT 62.24 374.35 Td (flects the Compan) Tj ET Q q 0 0 0 rg BT 135.86 374.35 Td (y's c) Tj ET Q q 0 0 0 rg BT 152.91 374.35 Td (or) Tj ET Q q 0 0 0 rg BT 161.54 374.35 Td (e oper) Tj ET Q q 0 0 0 rg BT 187.56 374.35 Td (a) Tj ET Q q 0 0 0 rg BT 192.26 374.35 Td (tions and an) Tj ET Q q 0 0 0 rg BT 242.02 374.35 Td (y chang) Tj ET Q q 0 0 0 rg BT 272.96 374.35 Td (es ar) Tj ET Q q 0 0 0 rg BT 292.25 374.35 Td (e not ma) Tj ET Q q 0 0 0 rg BT 328.31 374.35 Td (t) Tj ET Q q 0 0 0 rg BT 331.55 374.35 Td (erial t) Tj ET Q q 0 0 0 rg BT 354.90 374.35 Td (o the unaudit) Tj ET Q q 0 0 0 rg BT 409.62 374.35 Td (ed in) Tj ET Q q 0 0 0 rg BT 429.57 374.35 Td (t) Tj ET Q q 0 0 0 rg BT 432.81 374.35 Td (erim c) Tj ET Q q 0 0 0 rg BT 457.96 374.35 Td (onsolida) Tj ET Q q 0 0 0 rg BT 492.21 374.35 Td (t) Tj ET Q q 0 0 0 rg BT 495.46 374.35 Td (ed financial ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 362.35 Td (s) Tj ET Q q 0 0 0 rg BT 57.80 362.35 Td (t) Tj ET Q q 0 0 0 rg BT 61.03 362.35 Td (a) Tj ET Q q 0 0 0 rg BT 65.72 362.35 Td (t) Tj ET Q q 0 0 0 rg BT 68.97 362.35 Td (emen) Tj ET Q q 0 0 0 rg BT 92.07 362.35 Td (ts as a whole.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 344.35 Td (Additionally) Tj ET Q q 0 0 0 rg BT 101.95 344.35 Td (, manag) Tj ET Q q 0 0 0 rg BT 134.16 344.35 Td (emen) Tj ET Q q 0 0 0 rg BT 157.26 344.35 Td (t, in measuring the Compan) Tj ET Q q 0 0 0 rg BT 269.64 344.35 Td (y's perf) Tj ET Q q 0 0 0 rg BT 299.10 344.35 Td (ormance or making oper) Tj ET Q q 0 0 0 rg BT 399.00 344.35 Td (a) Tj ET Q q 0 0 0 rg BT 403.70 344.35 Td (ting decisions, dis) Tj ET Q q 0 0 0 rg BT 475.07 344.35 Td (tinguishes its ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 332.35 Td (oper) Tj ET Q q 0 0 0 rg BT 72.78 332.35 Td (a) Tj ET Q q 0 0 0 rg BT 77.48 332.35 Td (tions on a g) Tj ET Q q 0 0 0 rg BT 124.29 332.35 Td (eogr) Tj ET Q q 0 0 0 rg BT 142.53 332.35 Td (aphic) Tj ET Q q 0 0 0 rg BT 164.26 332.35 Td (al basis. The Compan) Tj ET Q q 0 0 0 rg BT 249.63 332.35 Td (y oper) Tj ET Q q 0 0 0 rg BT 275.20 332.35 Td (a) Tj ET Q q 0 0 0 rg BT 279.89 332.35 Td (t) Tj ET Q q 0 0 0 rg BT 283.14 332.35 Td (es in Canada and has thr) Tj ET Q q 0 0 0 rg BT 382.30 332.35 Td (ee oper) Tj ET Q q 0 0 0 rg BT 413.29 332.35 Td (a) Tj ET Q q 0 0 0 rg BT 417.99 332.35 Td (ting segmen) Tj ET Q q 0 0 0 rg BT 467.57 332.35 Td (ts: E) Tj ET Q q 0 0 0 rg BT 484.49 332.35 Td (as) Tj ET Q q 0 0 0 rg BT 493.08 332.35 Td (t) Tj ET Q q 0 0 0 rg BT 496.32 332.35 Td (ern, which ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 320.35 Td (includes oper) Tj ET Q q 0 0 0 rg BT 108.51 320.35 Td (a) Tj ET Q q 0 0 0 rg BT 113.21 320.35 Td (tions primarily in Quebec and Ot) Tj ET Q q 0 0 0 rg BT 245.10 320.35 Td (t) Tj ET Q q 0 0 0 rg BT 248.33 320.35 Td (a) Tj ET Q q 0 0 0 rg BT 253.05 320.35 Td (w) Tj ET Q q 0 0 0 rg BT 260.09 320.35 Td (a; Cen) Tj ET Q q 0 0 0 rg BT 285.28 320.35 Td (tr) Tj ET Q q 0 0 0 rg BT 291.92 320.35 Td (al, which includes the Compan) Tj ET Q q 0 0 0 rg BT 415.47 320.35 Td (y) Tj ET Q q 0 0 0 rg BT 420.30 320.35 Td () Tj ET Q q 0 0 0 rg BT 422.18 320.35 Td (s On) Tj ET Q q 0 0 0 rg BT 440.14 320.35 Td (t) Tj ET Q q 0 0 0 rg BT 443.37 320.35 Td (ario oper) Tj ET Q q 0 0 0 rg BT 480.25 320.35 Td (a) Tj ET Q q 0 0 0 rg BT 484.95 320.35 Td (tions e) Tj ET Q q 0 0 0 rg BT 512.12 320.35 Td (x) Tj ET Q q 0 0 0 rg BT 516.23 320.35 Td (cluding ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 308.35 Td (Ot) Tj ET Q q 0 0 0 rg BT 63.83 308.35 Td (t) Tj ET Q q 0 0 0 rg BT 67.06 308.35 Td (a) Tj ET Q q 0 0 0 rg BT 71.78 308.35 Td (w) Tj ET Q q 0 0 0 rg BT 78.81 308.35 Td (a; and W) Tj ET Q q 0 0 0 rg BT 114.63 308.35 Td (es) Tj ET Q q 0 0 0 rg BT 123.40 308.35 Td (t) Tj ET Q q 0 0 0 rg BT 126.65 308.35 Td (ern, which includes oper) Tj ET Q q 0 0 0 rg BT 226.07 308.35 Td (a) Tj ET Q q 0 0 0 rg BT 230.77 308.35 Td (tions in Albert) Tj ET Q q 0 0 0 rg BT 287.95 308.35 Td (a and British Columbia. 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Also included ar) Tj ET Q q 0 0 0 rg BT 533.64 471.90 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 459.90 Td (the r) Tj ET Q q 0 0 0 rg BT 73.19 459.90 Td (equir) Tj ET Q q 0 0 0 rg BT 94.33 459.90 Td (emen) Tj ET Q q 0 0 0 rg BT 117.43 459.90 Td (ts t) Tj ET Q q 0 0 0 rg BT 130.20 459.90 Td (o measur) Tj ET Q q 0 0 0 rg BT 168.01 459.90 Td (e deb) Tj ET Q q 0 0 0 rg BT 190.68 459.90 Td (t) Tj ET Q q 0 0 0 rg BT 193.73 459.90 Td (-based financial asse) Tj ET Q q 0 0 0 rg BT 277.28 459.90 Td (ts a) Tj ET Q q 0 0 0 rg BT 291.50 459.90 Td (t either amortiz) Tj ET Q q 0 0 0 rg BT 354.62 459.90 Td (ed c) Tj ET Q q 0 0 0 rg BT 371.25 459.90 Td (os) Tj ET Q q 0 0 0 rg BT 380.32 459.90 Td (t or f) Tj ET Q q 0 0 0 rg BT 399.81 459.90 Td (air v) Tj ET Q q 0 0 0 rg BT 417.01 459.90 Td (alue thr) Tj ET Q q 0 0 0 rg BT 448.52 459.90 Td (ough pr) Tj ET Q q 0 0 0 rg BT 479.84 459.90 Td (ofit or loss ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 447.90 Td (\(FVTPL) Tj ET Q q 0 0 0 rg BT 85.01 447.90 Td (\) and t) Tj ET Q q 0 0 0 rg BT 115.30 447.90 Td (o measur) Tj ET Q q 0 0 0 rg BT 153.11 447.90 Td (e equity) Tj ET Q q 0 0 0 rg BT 185.78 447.90 Td (-based financial asse) Tj ET Q q 0 0 0 rg BT 269.33 447.90 Td (ts as either held-) Tj ET Q q 0 0 0 rg BT 337.16 447.90 Td (f) Tj ET Q q 0 0 0 rg BT 340.01 447.90 Td (or) Tj ET Q q 0 0 0 rg BT 348.47 447.90 Td (-tr) Tj ET Q q 0 0 0 rg BT 358.17 447.90 Td (ading or as f) Tj ET Q q 0 0 0 rg BT 407.56 447.90 Td (air v) Tj ET Q q 0 0 0 rg BT 424.77 447.90 Td (alue thr) Tj ET Q q 0 0 0 rg BT 456.27 447.90 Td (ough other ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 435.90 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 435.90 Td (ompr) Tj ET Q q 0 0 0 rg BT 80.02 435.90 Td (ehensiv) Tj ET Q q 0 0 0 rg BT 111.10 435.90 Td (e inc) Tj ET Q q 0 0 0 rg BT 130.03 435.90 Td (ome \(FVT) Tj ET Q q 0 0 0 rg BT 172.60 435.90 Td (OCI\). No amoun) Tj ET Q q 0 0 0 rg BT 241.53 435.90 Td (ts ar) Tj ET Q q 0 0 0 rg BT 259.20 435.90 Td (e r) Tj ET Q q 0 0 0 rg BT 269.79 435.90 Td (eclassified out of other c) Tj ET Q q 0 0 0 rg BT 369.50 435.90 Td (ompr) Tj ET Q q 0 0 0 rg BT 391.37 435.90 Td (ehensiv) Tj ET Q q 0 0 0 rg BT 422.46 435.90 Td (e inc) Tj ET Q q 0 0 0 rg BT 441.39 435.90 Td (ome \() Tj ET Q q 0 0 0 rg BT 469.00 435.90 Td (OCI\) if the FVT) Tj ET Q q 0 0 0 rg BT 531.25 435.90 Td (OCI ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 423.90 Td (op) Tj ET Q q 0 0 0 rg BT 64.48 423.90 Td (tion is elect) Tj ET Q q 0 0 0 rg BT 111.10 423.90 Td (ed. Additionally) Tj ET Q q 0 0 0 rg BT 174.07 423.90 Td (, embedded deriv) Tj ET Q q 0 0 0 rg BT 245.40 423.90 Td (a) Tj ET Q q 0 0 0 rg BT 250.09 423.90 Td (tiv) Tj ET Q q 0 0 0 rg BT 260.16 423.90 Td (es in financial asse) Tj ET Q q 0 0 0 rg BT 335.16 423.90 Td (ts w) Tj ET Q q 0 0 0 rg BT 351.74 423.90 Td (ould no long) Tj ET Q q 0 0 0 rg BT 402.31 423.90 Td (er be bifur) Tj ET Q q 0 0 0 rg BT 444.72 423.90 Td (c) Tj ET Q q 0 0 0 rg BT 448.86 423.90 Td (a) Tj ET Q q 0 0 0 rg BT 453.56 423.90 Td (t) Tj ET Q q 0 0 0 rg BT 456.80 423.90 Td (ed and acc) Tj ET Q q 0 0 0 rg BT 500.02 423.90 Td (oun) Tj ET Q q 0 0 0 rg BT 515.70 423.90 Td (t) Tj ET Q q 0 0 0 rg BT 518.95 423.90 Td (ed f) Tj ET Q q 0 0 0 rg BT 534.28 423.90 Td (or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 411.90 Td (separ) Tj ET Q q 0 0 0 rg BT 76.21 411.90 Td (a) Tj ET Q q 0 0 0 rg BT 80.91 411.90 Td (t) Tj ET Q q 0 0 0 rg BT 84.15 411.90 Td (ely under IFR) Tj ET Q q 0 0 0 rg BT 137.11 411.90 Td (S 9. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 393.90 Td (A ne) Tj ET Q q 0 0 0 rg BT 72.23 393.90 Td (w g) Tj ET Q q 0 0 0 rg BT 86.26 393.90 Td (ener) Tj ET Q q 0 0 0 rg BT 104.75 393.90 Td (al hedg) Tj ET Q q 0 0 0 rg BT 134.20 393.90 Td (e acc) Tj ET Q q 0 0 0 rg BT 154.60 393.90 Td (oun) Tj ET Q q 0 0 0 rg BT 170.29 393.90 Td (ting s) Tj ET Q q 0 0 0 rg BT 191.95 393.90 Td (t) Tj ET Q q 0 0 0 rg BT 195.18 393.90 Td (andar) Tj ET Q q 0 0 0 rg BT 218.62 393.90 Td (d, part of IFR) Tj ET Q q 0 0 0 rg BT 270.77 393.90 Td (S 9 \(2013\), w) Tj ET Q q 0 0 0 rg BT 323.08 393.90 Td (as issued in No) Tj ET Q q 0 0 0 rg BT 383.40 393.90 Td (v) Tj ET Q q 0 0 0 rg BT 387.82 393.90 Td (ember 2013, permit) Tj ET Q q 0 0 0 rg BT 469.00 393.90 Td (ting additional ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 381.90 Td (hedging s) Tj ET Q q 0 0 0 rg BT 92.51 381.90 Td (tr) Tj ET Q q 0 0 0 rg BT 99.14 381.90 Td (a) Tj ET Q q 0 0 0 rg BT 103.83 381.90 Td (t) Tj ET Q q 0 0 0 rg BT 107.08 381.90 Td (egies used f) Tj ET Q q 0 0 0 rg BT 154.70 381.90 Td (or risk manag) Tj ET Q q 0 0 0 rg BT 209.66 381.90 Td (emen) Tj ET Q q 0 0 0 rg BT 232.76 381.90 Td (t t) Tj ET Q q 0 0 0 rg BT 241.63 381.90 Td (o qualif) Tj ET Q q 0 0 0 rg BT 272.15 381.90 Td (y f) Tj ET Q q 0 0 0 rg BT 281.78 381.90 Td (or hedg) Tj ET Q q 0 0 0 rg BT 312.91 381.90 Td (e acc) Tj ET Q q 0 0 0 rg BT 333.31 381.90 Td (oun) Tj ET Q q 0 0 0 rg BT 349.00 381.90 Td (ting.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 363.90 Td (The IASB has se) Tj ET Q q 0 0 0 rg BT 117.01 363.90 Td (t Januar) Tj ET Q q 0 0 0 rg BT 149.43 363.90 Td (y 1, 2018 as the e) Tj ET Q q 0 0 0 rg BT 220.27 363.90 Td (f) Tj ET Q q 0 0 0 rg BT 223.22 363.90 Td (f) Tj ET Q q 0 0 0 rg BT 226.03 363.90 Td (ectiv) Tj ET Q q 0 0 0 rg BT 245.29 363.90 Td (e da) Tj ET Q q 0 0 0 rg BT 262.48 363.90 Td (t) Tj ET Q q 0 0 0 rg BT 265.72 363.90 Td (e f) Tj ET Q q 0 0 0 rg BT 275.80 363.90 Td (or the manda) Tj ET Q q 0 0 0 rg BT 330.65 363.90 Td (t) Tj ET Q q 0 0 0 rg BT 333.90 363.90 Td (or) Tj ET Q q 0 0 0 rg BT 342.71 363.90 Td (y applic) Tj ET Q q 0 0 0 rg BT 373.53 363.90 Td (a) Tj ET Q q 0 0 0 rg BT 378.22 363.90 Td (tion of IFR) Tj ET Q q 0 0 0 rg BT 419.65 363.90 Td (S 9. The Compan) Tj ET Q q 0 0 0 rg BT 487.43 363.90 Td (y is in the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 351.90 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 351.90 Td (ocess of assessing the impact of IFR) Tj ET Q q 0 0 0 rg BT 206.66 351.90 Td (S 9 on its c) Tj ET Q q 0 0 0 rg BT 249.59 351.90 Td (onsolida) Tj ET Q q 0 0 0 rg BT 283.84 351.90 Td (t) Tj ET Q q 0 0 0 rg BT 287.09 351.90 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 339.89 351.90 Td (t) Tj ET Q q 0 0 0 rg BT 343.12 351.90 Td (a) Tj ET Q q 0 0 0 rg BT 347.81 351.90 Td (t) Tj ET Q q 0 0 0 rg BT 351.06 351.90 Td (emen) Tj ET Q q 0 0 0 rg BT 374.16 351.90 Td (ts. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 328.50 Td (R) Tj ET Q q 0 0 0 rg BT 60.58 328.50 Td (e) Tj ET Q q 0 0 0 rg BT 66.56 328.50 Td (v) Tj ET Q q 0 0 0 rg BT 72.13 328.50 Td (enue fr) Tj ET Q q 0 0 0 rg BT 107.72 328.50 Td (om c) Tj ET Q q 0 0 0 rg BT 131.61 328.50 Td (on) Tj ET Q q 0 0 0 rg BT 144.39 328.50 Td (tr) Tj ET Q q 0 0 0 rg BT 152.55 328.50 Td (acts with cus) Tj ET Q q 0 0 0 rg BT 216.47 328.50 Td (t) Tj ET Q q 0 0 0 rg BT 220.51 328.50 Td (omer) Tj ET Q q 0 0 0 rg BT 246.88 328.50 Td (s) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 310.50 Td (IFR) Tj ET Q q 0 0 0 rg BT 66.41 310.50 Td (S 15, R) Tj ET Q q 0 0 0 rg BT 97.60 310.50 Td (e) Tj ET Q q 0 0 0 rg BT 102.53 310.50 Td (v) Tj ET Q q 0 0 0 rg BT 106.94 310.50 Td (enue fr) Tj ET Q q 0 0 0 rg BT 136.04 310.50 Td (om Con) Tj ET Q q 0 0 0 rg BT 167.33 310.50 Td (tr) Tj ET Q q 0 0 0 rg BT 173.96 310.50 Td (acts with Cus) Tj ET Q q 0 0 0 rg BT 227.19 310.50 Td (t) Tj ET Q q 0 0 0 rg BT 230.45 310.50 Td (omer) Tj ET Q q 0 0 0 rg BT 252.00 310.50 Td (s \(IFR) Tj ET Q q 0 0 0 rg BT 281.98 310.50 Td (S 15\), w) Tj ET Q q 0 0 0 rg BT 317.98 310.50 Td (as issued in Ma) Tj ET Q q 0 0 0 rg BT 379.77 310.50 Td (y 2014, and r) Tj ET Q q 0 0 0 rg BT 432.50 310.50 Td (eplaces IAS 11, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 298.50 Td (Cons) Tj ET Q q 0 0 0 rg BT 77.84 298.50 Td (truction Con) Tj ET Q q 0 0 0 rg BT 128.36 298.50 Td (tr) Tj ET Q q 0 0 0 rg BT 134.99 298.50 Td (acts) Tj ET Q q 0 0 0 rg BT 154.49 298.50 Td (, IAS 18, R) Tj ET Q q 0 0 0 rg BT 198.74 298.50 Td (e) Tj ET Q q 0 0 0 rg BT 203.66 298.50 Td (v) Tj ET Q q 0 0 0 rg BT 208.08 298.50 Td (enue R) Tj ET Q q 0 0 0 rg BT 236.06 298.50 Td (ec) Tj ET Q q 0 0 0 rg BT 245.18 298.50 Td (ognition) Tj ET Q q 0 0 0 rg BT 282.10 298.50 Td (, IFRIC 13, Cus) Tj ET Q q 0 0 0 rg BT 342.97 298.50 Td (t) Tj ET Q q 0 0 0 rg BT 346.22 298.50 Td (omer Lo) Tj ET Q q 0 0 0 rg BT 379.63 298.50 Td (y) Tj ET Q q 0 0 0 rg BT 384.00 298.50 Td (alty Pr) Tj ET Q q 0 0 0 rg BT 409.72 298.50 Td (ogr) Tj ET Q q 0 0 0 rg BT 422.98 298.50 Td (ammes) Tj ET Q q 0 0 0 rg BT 455.85 298.50 Td (, IFRIC 15, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 286.50 Td () Tj ET Q q 0 0 0 rg BT 57.34 286.50 Td (Agr) Tj ET Q q 0 0 0 rg BT 71.19 286.50 Td (eemen) Tj ET Q q 0 0 0 rg BT 99.27 286.50 Td (ts f) Tj ET Q q 0 0 0 rg BT 111.63 286.50 Td (or the Cons) Tj ET Q q 0 0 0 rg BT 158.15 286.50 Td (truction of R) Tj ET Q q 0 0 0 rg BT 208.74 286.50 Td (eal Es) Tj ET Q q 0 0 0 rg BT 231.74 286.50 Td (t) Tj ET Q q 0 0 0 rg BT 234.97 286.50 Td (a) Tj ET Q q 0 0 0 rg BT 239.67 286.50 Td (t) Tj ET Q q 0 0 0 rg BT 242.91 286.50 Td (e) Tj ET Q q 0 0 0 rg BT 251.10 286.50 Td (, IFRIC 18, ) Tj ET Q q 0 0 0 rg BT 298.04 286.50 Td (T) Tj ET Q q 0 0 0 rg BT 302.29 286.50 Td (r) Tj ET Q q 0 0 0 rg BT 305.57 286.50 Td (ans) Tj ET Q q 0 0 0 rg BT 319.43 286.50 Td (f) Tj ET Q q 0 0 0 rg BT 322.24 286.50 Td (er) Tj ET Q q 0 0 0 rg BT 330.53 286.50 Td (s of Asse) Tj ET Q q 0 0 0 rg BT 365.82 286.50 Td (ts fr) Tj ET Q q 0 0 0 rg BT 381.71 286.50 Td (om Cus) Tj ET Q q 0 0 0 rg BT 411.62 286.50 Td (t) Tj ET Q q 0 0 0 rg BT 414.87 286.50 Td (omer) Tj ET Q q 0 0 0 rg BT 436.43 286.50 Td (s) Tj ET Q q 0 0 0 rg BT 443.56 286.50 Td (, and SIC-31, R) Tj ET Q q 0 0 0 rg BT 505.71 286.50 Td (e) Tj ET Q q 0 0 0 rg BT 510.64 286.50 Td (v) Tj ET Q q 0 0 0 rg BT 515.05 286.50 Td (enue ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 274.50 Td ( Bart) Tj ET Q q 0 0 0 rg BT 78.20 274.50 Td (er T) Tj ET Q q 0 0 0 rg BT 93.17 274.50 Td (r) Tj ET Q q 0 0 0 rg BT 96.46 274.50 Td (ansactions In) Tj ET Q q 0 0 0 rg BT 149.38 274.50 Td (v) Tj ET Q q 0 0 0 rg BT 153.80 274.50 Td (olving Adv) Tj ET Q q 0 0 0 rg BT 195.87 274.50 Td (ertising Ser) Tj ET Q q 0 0 0 rg BT 241.55 274.50 Td (vices) Tj ET Q q 0 0 0 rg BT 264.71 274.50 Td (. IFR) Tj ET Q q 0 0 0 rg BT 281.91 274.50 Td (S 15 pr) Tj ET Q q 0 0 0 rg BT 309.74 274.50 Td (o) Tj ET Q q 0 0 0 rg BT 314.97 274.50 Td (vides a single, principles-based fiv) Tj ET Q q 0 0 0 rg BT 451.94 274.50 Td (e-s) Tj ET Q q 0 0 0 rg BT 463.78 274.50 Td (t) Tj ET Q q 0 0 0 rg BT 467.02 274.50 Td (ep model tha) Tj ET Q q 0 0 0 rg BT 520.86 274.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 262.50 Td (will apply t) Tj ET Q q 0 0 0 rg BT 97.93 262.50 Td (o all c) Tj ET Q q 0 0 0 rg BT 121.25 262.50 Td (on) Tj ET Q q 0 0 0 rg BT 131.68 262.50 Td (tr) Tj ET Q q 0 0 0 rg BT 138.31 262.50 Td (acts with cus) Tj ET Q q 0 0 0 rg BT 190.44 262.50 Td (t) Tj ET Q q 0 0 0 rg BT 193.69 262.50 Td (omer) Tj ET Q q 0 0 0 rg BT 215.25 262.50 Td (s with limit) Tj ET Q q 0 0 0 rg BT 259.84 262.50 Td (ed e) Tj ET Q q 0 0 0 rg BT 277.15 262.50 Td (x) Tj ET Q q 0 0 0 rg BT 281.26 262.50 Td (cep) Tj ET Q q 0 0 0 rg BT 295.67 262.50 Td (tions, including) Tj ET Q q 0 0 0 rg BT 357.46 262.50 Td (, but not limit) Tj ET Q q 0 0 0 rg BT 412.59 262.50 Td (ed t) Tj ET Q q 0 0 0 rg BT 428.33 262.50 Td (o) Tj ET Q q 0 0 0 rg BT 433.42 262.50 Td (, leases within the sc) Tj ET Q q 0 0 0 rg BT 517.05 262.50 Td (ope ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 250.50 Td (of IAS 17 Leases; financial ins) Tj ET Q q 0 0 0 rg BT 180.08 250.50 Td (trumen) Tj ET Q q 0 0 0 rg BT 210.29 250.50 Td (ts and other c) Tj ET Q q 0 0 0 rg BT 266.12 250.50 Td (on) Tj ET Q q 0 0 0 rg BT 276.55 250.50 Td (tr) Tj ET Q q 0 0 0 rg BT 283.18 250.50 Td (actual righ) Tj ET Q q 0 0 0 rg BT 325.80 250.50 Td (ts or oblig) Tj ET Q q 0 0 0 rg BT 365.98 250.50 Td (a) Tj ET Q q 0 0 0 rg BT 370.68 250.50 Td (tions within the sc) Tj ET Q q 0 0 0 rg BT 444.78 250.50 Td (ope of IFR) Tj ET Q q 0 0 0 rg BT 485.54 250.50 Td (S 9, IFR) Tj ET Q q 0 0 0 rg BT 514.63 250.50 Td (S 10, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 238.50 Td (Consolida) Tj ET Q q 0 0 0 rg BT 97.77 238.50 Td (t) Tj ET Q q 0 0 0 rg BT 101.01 238.50 Td (ed Financial St) Tj ET Q q 0 0 0 rg BT 159.38 238.50 Td (a) Tj ET Q q 0 0 0 rg BT 164.08 238.50 Td (t) Tj ET Q q 0 0 0 rg BT 167.32 238.50 Td (emen) Tj ET Q q 0 0 0 rg BT 190.42 238.50 Td (ts) Tj ET Q q 0 0 0 rg BT 200.90 238.50 Td (, and IFR) Tj ET Q q 0 0 0 rg BT 235.63 238.50 Td (S 11, ) Tj ET Q q 0 0 0 rg BT 261.12 238.50 Td (Join) Tj ET Q q 0 0 0 rg BT 277.04 238.50 Td (t Arr) Tj ET Q q 0 0 0 rg BT 295.20 238.50 Td (ang) Tj ET Q q 0 0 0 rg BT 309.87 238.50 Td (emen) Tj ET Q q 0 0 0 rg BT 332.97 238.50 Td (ts) Tj ET Q q 0 0 0 rg BT 343.46 238.50 Td (. In addition t) Tj ET Q q 0 0 0 rg BT 397.56 238.50 Td (o the fiv) Tj ET Q q 0 0 0 rg BT 430.70 238.50 Td (e-s) Tj ET Q q 0 0 0 rg BT 442.54 238.50 Td (t) Tj ET Q q 0 0 0 rg BT 445.78 238.50 Td (ep model, the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 226.50 Td (s) Tj ET Q q 0 0 0 rg BT 57.80 226.50 Td (t) Tj ET Q q 0 0 0 rg BT 61.03 226.50 Td (andar) Tj ET Q q 0 0 0 rg BT 84.46 226.50 Td (d specifies ho) Tj ET Q q 0 0 0 rg BT 139.63 226.50 Td (w t) Tj ET Q q 0 0 0 rg BT 152.29 226.50 Td (o acc) Tj ET Q q 0 0 0 rg BT 172.98 226.50 Td (oun) Tj ET Q q 0 0 0 rg BT 188.67 226.50 Td (t f) Tj ET Q q 0 0 0 rg BT 197.13 226.50 Td (or the incr) Tj ET Q q 0 0 0 rg BT 239.12 226.50 Td (emen) Tj ET Q q 0 0 0 rg BT 262.22 226.50 Td (t) Tj ET Q q 0 0 0 rg BT 265.45 226.50 Td (al c) Tj ET Q q 0 0 0 rg BT 278.94 226.50 Td (os) Tj ET Q q 0 0 0 rg BT 288.01 226.50 Td (ts of ob) Tj ET Q q 0 0 0 rg BT 318.60 226.50 Td (t) Tj ET Q q 0 0 0 rg BT 321.83 226.50 Td (aining a c) Tj ET Q q 0 0 0 rg BT 359.88 226.50 Td (on) Tj ET Q q 0 0 0 rg BT 370.31 226.50 Td (tr) Tj ET Q q 0 0 0 rg BT 376.94 226.50 Td (act and the c) Tj ET Q q 0 0 0 rg BT 429.12 226.50 Td (os) Tj ET Q q 0 0 0 rg BT 438.19 226.50 Td (ts dir) Tj ET Q q 0 0 0 rg BT 458.61 226.50 Td (ectly r) Tj ET Q q 0 0 0 rg BT 483.60 226.50 Td (ela) Tj ET Q q 0 0 0 rg BT 495.57 226.50 Td (t) Tj ET Q q 0 0 0 rg BT 498.81 226.50 Td (ed t) Tj ET Q q 0 0 0 rg BT 514.56 226.50 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 214.50 Td (fulfilling a c) Tj ET Q q 0 0 0 rg BT 100.25 214.50 Td (on) Tj ET Q q 0 0 0 rg BT 110.68 214.50 Td (tr) Tj ET Q q 0 0 0 rg BT 117.32 214.50 Td (act. The incr) Tj ET Q q 0 0 0 rg BT 166.96 214.50 Td (emen) Tj ET Q q 0 0 0 rg BT 190.06 214.50 Td (t) Tj ET Q q 0 0 0 rg BT 193.29 214.50 Td (al c) Tj ET Q q 0 0 0 rg BT 206.78 214.50 Td (os) Tj ET Q q 0 0 0 rg BT 215.86 214.50 Td (ts of ob) Tj ET Q q 0 0 0 rg BT 246.45 214.50 Td (t) Tj ET Q q 0 0 0 rg BT 249.67 214.50 Td (aining a c) Tj ET Q q 0 0 0 rg BT 287.73 214.50 Td (on) Tj ET Q q 0 0 0 rg BT 298.16 214.50 Td (tr) Tj ET Q q 0 0 0 rg BT 304.79 214.50 Td (act mus) Tj ET Q q 0 0 0 rg BT 336.46 214.50 Td (t be r) Tj ET Q q 0 0 0 rg BT 357.92 214.50 Td (ec) Tj ET Q q 0 0 0 rg BT 367.04 214.50 Td (ogniz) Tj ET Q q 0 0 0 rg BT 388.29 214.50 Td (ed as an asse) Tj ET Q q 0 0 0 rg BT 441.58 214.50 Td (t if the en) Tj ET Q q 0 0 0 rg BT 480.78 214.50 Td (tity e) Tj ET Q q 0 0 0 rg BT 501.38 214.50 Td (xpects t) Tj ET Q q 0 0 0 rg BT 532.95 214.50 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 202.50 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 202.50 Td (ec) Tj ET Q q 0 0 0 rg BT 66.48 202.50 Td (o) Tj ET Q q 0 0 0 rg BT 71.71 202.50 Td (v) Tj ET Q q 0 0 0 rg BT 76.12 202.50 Td (er these c) Tj ET Q q 0 0 0 rg BT 115.72 202.50 Td (os) Tj ET Q q 0 0 0 rg BT 124.79 202.50 Td (ts. The s) Tj ET Q q 0 0 0 rg BT 158.00 202.50 Td (t) Tj ET Q q 0 0 0 rg BT 161.23 202.50 Td (andar) Tj ET Q q 0 0 0 rg BT 184.66 202.50 Td (d) Tj ET Q q 0 0 0 rg BT 191.80 202.50 Td (s r) Tj ET Q q 0 0 0 rg BT 201.33 202.50 Td (equir) Tj ET Q q 0 0 0 rg BT 222.46 202.50 Td (emen) Tj ET Q q 0 0 0 rg BT 245.56 202.50 Td (ts will also apply t) Tj ET Q q 0 0 0 rg BT 317.54 202.50 Td (o the r) Tj ET Q q 0 0 0 rg BT 344.27 202.50 Td (ec) Tj ET Q q 0 0 0 rg BT 353.39 202.50 Td (ognition and measur) Tj ET Q q 0 0 0 rg BT 437.18 202.50 Td (emen) Tj ET Q q 0 0 0 rg BT 460.28 202.50 Td (t of g) Tj ET Q q 0 0 0 rg BT 481.00 202.50 Td (ains and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 190.50 Td (losses on the sale of some non-) Tj ET Q q 0 0 0 rg BT 181.15 190.50 Td (financial asse) Tj ET Q q 0 0 0 rg BT 235.20 190.50 Td (ts tha) Tj ET Q q 0 0 0 rg BT 258.02 190.50 Td (t ar) Tj ET Q q 0 0 0 rg BT 271.77 190.50 Td (e not an output of the en) Tj ET Q q 0 0 0 rg BT 374.01 190.50 Td (tity) Tj ET Q q 0 0 0 rg BT 387.83 190.50 Td () Tj ET Q q 0 0 0 rg BT 389.72 190.50 Td (s or) Tj ET Q q 0 0 0 rg BT 404.51 190.50 Td (dinar) Tj ET Q q 0 0 0 rg BT 425.64 190.50 Td (y activities. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 172.50 Td (IFR) Tj ET Q q 0 0 0 rg BT 66.41 172.50 Td (S 15 is r) Tj ET Q q 0 0 0 rg BT 97.49 172.50 Td (equir) Tj ET Q q 0 0 0 rg BT 118.62 172.50 Td (ed f) Tj ET Q q 0 0 0 rg BT 133.95 172.50 Td (or annual periods beginning on or a) Tj ET Q q 0 0 0 rg BT 278.38 172.50 Td (ft) Tj ET Q q 0 0 0 rg BT 284.67 172.50 Td (er Januar) Tj ET Q q 0 0 0 rg BT 322.20 172.50 Td (y 1, 2018. E) Tj ET Q q 0 0 0 rg BT 368.59 172.50 Td (arlier adop) Tj ET Q q 0 0 0 rg BT 412.71 172.50 Td (tion is permit) Tj ET Q q 0 0 0 rg BT 466.81 172.50 Td (t) Tj ET Q q 0 0 0 rg BT 470.05 172.50 Td (ed. The Compan) Tj ET Q q 0 0 0 rg BT 536.14 172.50 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 160.50 Td (is in the pr) Tj ET Q q 0 0 0 rg BT 96.70 160.50 Td (ocess of assessing the impact of IFR) Tj ET Q q 0 0 0 rg BT 240.77 160.50 Td (S 15 on its c) Tj ET Q q 0 0 0 rg BT 288.78 160.50 Td (onsolida) Tj ET Q q 0 0 0 rg BT 323.03 160.50 Td (t) Tj ET Q q 0 0 0 rg BT 326.27 160.50 Td (ed financial s) Tj ET Q q 0 0 0 rg BT 379.07 160.50 Td (t) Tj ET Q q 0 0 0 rg BT 382.30 160.50 Td (a) Tj ET Q q 0 0 0 rg BT 387.00 160.50 Td (t) Tj ET Q q 0 0 0 rg BT 390.24 160.50 Td (emen) Tj ET Q q 0 0 0 rg BT 413.34 160.50 Td (ts.) Tj ET Q endstream endobj 131 0 obj <> endobj 132 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (64) Tj ET Q BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 691.50 Td (5) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 61.10 691.50 Td (. INVE) Tj ET Q q 0 0 0 rg BT 95.92 691.50 Td (S) Tj ET Q q 0 0 0 rg BT 102.41 691.50 Td (TMENT PR) Tj ET Q q 0 0 0 rg BT 162.92 691.50 Td (OPER) Tj ET Q q 0 0 0 rg BT 194.41 691.50 Td (TIE) Tj ET Q q 0 0 0 rg BT 211.77 691.50 Td (S) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 671.10 Td (\(a\) Activity) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 653.10 Td (The f) Tj ET Q q 0 0 0 rg BT 74.21 653.10 Td (ollo) Tj ET Q q 0 0 0 rg BT 89.30 653.10 Td (wing t) Tj ET Q q 0 0 0 rg BT 114.20 653.10 Td (ables summariz) Tj ET Q q 0 0 0 rg BT 177.12 653.10 Td (e the chang) Tj ET Q q 0 0 0 rg BT 224.35 653.10 Td (es in the Compan) Tj ET Q q 0 0 0 rg BT 294.85 653.10 Td (y) Tj ET Q q 0 0 0 rg BT 299.68 653.10 Td () Tj ET Q q 0 0 0 rg BT 301.56 653.10 Td (s in) Tj ET Q q 0 0 0 rg BT 315.12 653.10 Td (v) Tj ET Q q 0 0 0 rg BT 319.54 653.10 Td (es) Tj ET Q q 0 0 0 rg BT 328.31 653.10 Td (tmen) Tj ET Q q 0 0 0 rg BT 349.79 653.10 Td (t pr) Tj ET Q q 0 0 0 rg BT 363.98 653.10 Td (operties f) Tj ET Q q 0 0 0 rg BT 402.60 653.10 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 429.46 653.10 Td (thr) Tj ET Q q 0 0 0 rg BT 441.42 653.10 Td (ee mon) Tj ET Q q 0 0 0 rg BT 472.05 653.10 Td (ths ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 641.10 Td (Mar) Tj ET Q q 0 0 0 rg BT 70.68 641.10 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 117.59 641.10 Td ( and f) Tj ET Q q 0 0 0 rg BT 140.25 641.10 Td (or the y) Tj ET Q q 0 0 0 rg BT 171.51 641.10 Td (ear ended December 31, 2014:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 630.6 m 170.5 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 630.6 m 225.5 630.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 170.5 618.6 m 225.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 630.6 m 234.5 630.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 618.6 m 234.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 630.6 m 289.5 630.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 234.5 618.6 m 289.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 630.6 m 298.5 630.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 289.5 618.6 m 298.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 630.6 m 353.5 630.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298.5 618.6 m 353.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 630.6 m 362.5 630.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353.5 618.6 m 362.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 630.6 m 417.5 630.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362.5 618.6 m 417.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 630.6 m 426.5 630.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 618.6 m 426.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 630.6 m 486.5 630.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 618.6 m 486.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 630.6 m 495.5 630.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 618.6 m 495.5 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 630.6 m 555.5 630.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 495.5 618.6 m 555.5 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 618.6 m 170.5 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 597.6 m 170.5 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 170.5 618.6 m 225.5 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 170.5 597.6 m 225.5 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 618.6 m 234.5 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 597.6 m 234.5 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 234.5 618.6 m 289.5 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 234.5 597.6 m 289.5 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 289.5 618.6 m 298.5 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 289.5 597.6 m 298.5 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298.5 618.6 m 353.5 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298.5 597.6 m 353.5 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353.5 618.6 m 362.5 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353.5 597.6 m 362.5 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362.5 618.6 m 417.5 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362.5 597.6 m 417.5 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 618.6 m 426.5 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 597.6 m 426.5 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 618.6 m 426.5 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 618.6 m 486.5 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 597.6 m 486.5 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 618.6 m 495.5 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 597.6 m 495.5 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 495.5 618.6 m 555.5 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 495.5 597.6 m 555.5 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 597.6 m 426.5 572.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 572.6 m 426.5 558.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 558.6 m 426.5 544.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 544.6 m 426.5 513.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 513.6 m 426.5 490.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 490.6 m 426.5 476.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 476.6 m 170.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 462.6 m 170.5 462.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 170.5 476.6 m 225.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 462.6 m 225.5 462.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 476.6 m 234.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 462.6 m 234.5 462.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 234.5 476.6 m 289.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 462.6 m 289.5 462.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 289.5 476.6 m 298.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 462.6 m 298.5 462.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298.5 476.6 m 353.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 462.6 m 353.5 462.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353.5 476.6 m 362.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 462.6 m 362.5 462.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362.5 476.6 m 417.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 462.6 m 417.5 462.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 476.6 m 426.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 462.6 m 426.5 462.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 476.6 m 426.5 462.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 476.6 m 486.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 462.6 m 486.5 462.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 476.6 m 495.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 462.6 m 495.5 462.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 495.5 476.6 m 555.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 462.6 m 555.5 462.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353.5 427.6 m 362.5 427.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362.5 427.6 m 417.5 427.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 427.6 m 170.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 412.6 m 170.5 412.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 170.5 427.6 m 225.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 412.6 m 225.5 412.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 427.6 m 234.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 412.6 m 234.5 412.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 234.5 427.6 m 289.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 412.6 m 289.5 412.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 289.5 427.6 m 298.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 412.6 m 298.5 412.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298.5 427.6 m 353.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 412.6 m 353.5 412.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353.5 427.6 m 362.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 412.6 m 362.5 412.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362.5 427.6 m 417.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 412.6 m 417.5 412.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 427.6 m 426.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 412.6 m 426.5 412.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 427.6 m 486.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 412.6 m 486.5 412.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 427.6 m 495.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 412.6 m 495.5 412.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 495.5 427.6 m 555.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 412.6 m 555.5 412.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.00 623.10 Td (Thr) Tj ET Q q 0 0 0 rg BT 443.01 623.10 Td (ee ) Tj ET Q q 0 0 0 rg BT 452.47 623.10 Td (mon) Tj ET Q q 0 0 0 rg BT 467.49 623.10 Td (ths ) Tj ET Q q 0 0 0 rg BT 479.15 623.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 501.49 623.10 Td (Mar) Tj ET Q q 0 0 0 rg BT 515.16 623.10 Td (ch ) Tj ET Q q 0 0 0 rg BT 524.21 623.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 535.78 623.10 Td (2015) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 602.10 Td (\(thousands of Canadian dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 198.15 610.10 Td (Cen) Tj ET Q q 0 0 0 rg BT 210.63 610.10 Td (tr) Tj ET Q q 0 0 0 rg BT 216.07 610.10 Td (al) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 197.40 602.10 Td ( R) Tj ET Q q 0 0 0 rg BT 203.60 602.10 Td (egion) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 261.30 610.10 Td (Eastern) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.20 602.10 Td (Region) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 322.05 610.10 Td (Western) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.20 602.10 Td (Region) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 397.80 602.10 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.95 610.10 Td (Shopping) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.75 602.10 Td (Cen) Tj ET Q q 0 0 0 rg BT 470.23 602.10 Td (tr) Tj ET Q q 0 0 0 rg BT 475.76 602.10 Td (es) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.10 610.10 Td (De) Tj ET Q q 0 0 0 rg BT 516.13 610.10 Td (v) Tj ET Q q 0 0 0 rg BT 519.84 610.10 Td (elopmen) Tj ET Q q 0 0 0 rg BT 549.18 610.10 Td (t) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.05 602.10 Td (Land) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 588.20 Td (Balance at beginning of) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 577.35 Td (period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 173.00 577.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 185.50 577.35 Td (3,207,544) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 237.00 577.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 249.50 577.35 Td (1,744,533) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 301.00 577.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 313.55 577.35 Td (2,557,714) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 365.00 577.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 377.55 577.35 Td (7,509,791) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 429.00 577.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 446.55 577.35 Td (7,474,329) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.00 577.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 527.00 577.35 Td (35,462) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 563.35 Td (Acquisitions) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 201.50 563.35 Td (1,422) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 272.45 563.35 Td (354) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 325.00 563.35 Td (23,433) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 389.00 563.35 Td (25,209) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 458.00 563.35 Td (25,209) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 544.00 563.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 549.35 Td (Capital expenditures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 197.00 549.35 Td (22,523) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 261.00 549.35 Td (23,956) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 325.00 549.35 Td (20,458) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 389.00 549.35 Td (66,937) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 458.00 549.35 Td (66,789) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 538.45 549.35 Td (148) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 535.35 Td (Increase \(decrease\) in value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 526.35 Td (of investment properties,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 517.35 Td (net) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 198.75 535.35 Td (\(2,638) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 222.15 535.35 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 265.55 535.35 Td (1,576) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 336.45 535.35 Td (728) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 397.65 535.35 Td (\(334) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 414.15 535.35 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 462.55 535.35 Td (2,402) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 528.75 535.35 Td (\(2,736) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 552.15 535.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 504.35 Td (Straight-line rent and other) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 493.55 Td (changes) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 201.50 504.35 Td (2,471) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 262.75 504.35 Td (\(3,630) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 286.15 504.35 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 329.55 504.35 Td (2,396) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 393.55 504.35 Td (1,237) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 462.55 504.35 Td (1,237) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 544.00 504.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 481.35 Td (Dispositions) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 214.00 481.35 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.20 481.35 Td (\(21,500) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 286.15 481.35 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 342.00 481.35 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 386.20 481.35 Td (\(21,500) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 414.15 481.35 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.20 481.35 Td (\(21,500) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 483.15 481.35 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 544.00 481.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 467.35 Td (Balance at end of period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 173.00 467.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 185.50 467.35 Td (3,231,322) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 237.00 467.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 249.50 467.35 Td (1,745,289) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 301.00 467.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 313.55 467.35 Td (2,604,729) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 365.00 467.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 377.55 467.35 Td (7,581,340) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 429.00 467.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 446.55 467.35 Td (7,548,466) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.00 467.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 527.00 467.35 Td (32,874) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 453.35 Td (Investment properties non-current) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 429.00 453.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 446.55 453.35 Td (7,479,370) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.00 453.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 527.00 453.35 Td (26,374) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 439.35 Td (Investment properties classified as held for) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 430.35 Td (sale) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 458.00 432.35 Td (69,096) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 531.55 432.35 Td (6,500) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 417.35 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 429.00 417.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 446.55 417.35 Td (7,548,466) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.00 417.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 527.00 417.35 Td (32,874) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 402.6 m 170.5 402.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 402.6 m 225.5 402.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 170.5 389.6 m 225.5 389.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 402.6 m 234.5 402.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 389.6 m 234.5 389.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 402.6 m 289.5 402.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 234.5 389.6 m 289.5 389.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 402.6 m 298.5 402.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 289.5 389.6 m 298.5 389.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 402.6 m 353.5 402.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298.5 389.6 m 353.5 389.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 402.6 m 362.5 402.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353.5 389.6 m 362.5 389.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 402.6 m 417.5 402.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362.5 389.6 m 417.5 389.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 402.6 m 426.5 402.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 389.6 m 426.5 389.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 402.6 m 486.5 402.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 389.6 m 486.5 389.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 402.6 m 495.5 402.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 389.6 m 495.5 389.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 402.6 m 555.5 402.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 495.5 389.6 m 555.5 389.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 389.6 m 170.5 389.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 368.6 m 170.5 368.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 170.5 389.6 m 225.5 389.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 170.5 368.6 m 225.5 368.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 389.6 m 234.5 389.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 368.6 m 234.5 368.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 234.5 389.6 m 289.5 389.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 234.5 368.6 m 289.5 368.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 289.5 389.6 m 298.5 389.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 289.5 368.6 m 298.5 368.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298.5 389.6 m 353.5 389.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298.5 368.6 m 353.5 368.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353.5 389.6 m 362.5 389.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353.5 368.6 m 362.5 368.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362.5 389.6 m 417.5 389.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362.5 368.6 m 417.5 368.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 389.6 m 426.5 389.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 368.6 m 426.5 368.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 389.6 m 426.5 368.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 389.6 m 486.5 389.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 368.6 m 486.5 368.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 389.6 m 495.5 389.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 368.6 m 495.5 368.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 495.5 389.6 m 555.5 389.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 495.5 368.6 m 555.5 368.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 368.6 m 426.5 355.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 355.6 m 426.5 342.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 342.6 m 426.5 329.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 329.6 m 426.5 297.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 297.6 m 426.5 271.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 271.6 m 426.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 238.60000000000002 m 426.5 215.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 215.60000000000002 m 426.5 202.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 202.60000000000002 m 426.5 179.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 179.60000000000002 m 426.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 147.60000000000002 m 170.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 133.60000000000002 m 170.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 170.5 147.60000000000002 m 225.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 133.60000000000002 m 225.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 147.60000000000002 m 234.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 133.60000000000002 m 234.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 234.5 147.60000000000002 m 289.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 133.60000000000002 m 289.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 289.5 147.60000000000002 m 298.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 133.60000000000002 m 298.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298.5 147.60000000000002 m 353.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 133.60000000000002 m 353.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353.5 147.60000000000002 m 362.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 133.60000000000002 m 362.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362.5 147.60000000000002 m 417.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 133.60000000000002 m 417.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 147.60000000000002 m 426.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 133.60000000000002 m 426.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 147.60000000000002 m 426.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 147.60000000000002 m 486.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 133.60000000000002 m 486.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 147.60000000000002 m 495.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 133.60000000000002 m 495.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 495.5 147.60000000000002 m 555.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 133.60000000000002 m 555.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 133.60000000000002 m 234.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 133.60000000000002 m 289.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 133.60000000000002 m 298.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 133.60000000000002 m 353.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 133.60000000000002 m 362.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 133.60000000000002 m 417.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 133.60000000000002 m 426.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 133.60000000000002 m 486.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 133.60000000000002 m 495.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 133.60000000000002 m 555.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 234.5 99.60000000000002 m 289.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 289.5 99.60000000000002 m 298.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298.5 99.60000000000002 m 353.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353.5 99.60000000000002 m 362.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362.5 99.60000000000002 m 417.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 99.60000000000002 m 426.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 99.60000000000002 m 486.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 99.60000000000002 m 495.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 495.5 99.60000000000002 m 555.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 99.60000000000002 m 170.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 84.60000000000002 m 170.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 170.5 99.60000000000002 m 225.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 84.60000000000002 m 225.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 225.5 99.60000000000002 m 234.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 84.60000000000002 m 234.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 234.5 99.60000000000002 m 289.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 84.60000000000002 m 289.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 289.5 99.60000000000002 m 298.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 84.60000000000002 m 298.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298.5 99.60000000000002 m 353.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 84.60000000000002 m 353.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353.5 99.60000000000002 m 362.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 84.60000000000002 m 362.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362.5 99.60000000000002 m 417.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 84.60000000000002 m 417.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 99.60000000000002 m 426.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 84.60000000000002 m 426.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 99.60000000000002 m 486.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 84.60000000000002 m 486.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486.5 99.60000000000002 m 495.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 84.60000000000002 m 495.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 495.5 99.60000000000002 m 555.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 84.60000000000002 m 555.5 84.60000000000002 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 450.30 394.10 Td (Year ended December 31, 2014) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 373.10 Td (\(thousands of Canadian dollars\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 198.65 381.10 Td (Cen) Tj ET Q q 0 0 0 rg BT 211.03 381.10 Td (tr) Tj ET Q q 0 0 0 rg BT 216.33 381.10 Td (al) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 199.75 373.10 Td (R) Tj ET Q q 0 0 0 rg BT 203.95 373.10 Td (egion) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 261.75 381.10 Td (E) Tj ET Q q 0 0 0 rg BT 265.52 381.10 Td (as) Tj ET Q q 0 0 0 rg BT 272.39 381.10 Td (t) Tj ET Q q 0 0 0 rg BT 274.99 381.10 Td (ern) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 263.75 373.10 Td (R) Tj ET Q q 0 0 0 rg BT 267.95 373.10 Td (egion) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 322.55 381.10 Td (Western) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 327.75 373.10 Td (Region) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 398.30 373.10 Td (Total) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 452.65 381.10 Td (Shopping) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 458.15 373.10 Td (Cen) Tj ET Q q 0 0 0 rg BT 470.52 373.10 Td (tr) Tj ET Q q 0 0 0 rg BT 475.89 373.10 Td (es) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 508.15 381.10 Td (De) Tj ET Q q 0 0 0 rg BT 517.01 381.10 Td (v) Tj ET Q q 0 0 0 rg BT 520.55 381.10 Td (elopmen) Tj ET Q q 0 0 0 rg BT 549.29 381.10 Td (t) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 536.35 373.10 Td (Land) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 359.35 Td (Balance at beginning of year) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 173.00 359.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 185.75 359.35 Td (3,141,304) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 237.00 359.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 249.75 359.35 Td (1,639,162) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 301.00 359.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 313.80 359.35 Td (2,511,585) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 365.00 359.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 377.80 359.35 Td (7,292,051) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.00 359.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 446.80 359.35 Td (7,126,008) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.00 359.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.60 359.35 Td (166,043) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 346.35 Td (Acquisitions) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 197.15 346.35 Td (88,940) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 261.15 346.35 Td (87,798) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 325.15 346.35 Td (50,164) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.60 346.35 Td (226,902) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 453.60 346.35 Td (207,852) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.15 346.35 Td (19,050) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 333.35 Td (Capital expenditures) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 192.60 333.35 Td (111,051) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 261.15 333.35 Td (74,362) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 325.15 333.35 Td (68,088) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.60 333.35 Td (253,501) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 453.60 333.35 Td (246,257) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.75 333.35 Td (7,244) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 320.35 Td (Reclassifications between) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 311.35 Td (shopping centres and) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 302.35 Td (development land) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 214.10 302.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 278.10 302.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 342.10 302.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 406.10 302.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 458.15 302.35 Td (40,988) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 524.45 302.35 Td (\(40,988) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.25 302.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 285.35 Td (Reclassification to residential) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 276.35 Td (development inventory) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 197.15 276.35 Td (25,151) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 278.10 276.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 342.10 276.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 389.15 276.35 Td (25,151) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 458.15 276.35 Td (25,151) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 544.10 276.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 261.35 Td (Increase \(decrease\) in value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 252.35 Td (of investment properties,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 243.35 Td (net) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 197.15 243.35 Td (62,801) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 258.45 243.35 Td (\(26,959) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 286.25 243.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 329.75 243.35 Td (6,236) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 389.15 243.35 Td (42,078) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 458.15 243.35 Td (47,162) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.00 243.35 Td (\(5,084) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.25 243.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 229.35 Td (Straight-line rent and other) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 220.35 Td (changes) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 201.75 220.35 Td (1,591) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 265.75 220.35 Td (1,984) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 329.75 220.35 Td (2,275) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 393.75 220.35 Td (5,850) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.75 220.35 Td (5,850) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 544.10 220.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 206.35 Td (Dispositions) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 189.90 206.35 Td (\(140,394) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 222.25 206.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 258.45 206.35 Td (\(31,814) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 286.25 206.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 322.45 206.35 Td (\(73,508) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 350.25 206.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 381.90 206.35 Td (\(245,716) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 414.25 206.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 450.90 206.35 Td (\(183,513) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.25 206.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 524.45 206.35 Td (\(62,203) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.25 206.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 193.35 Td (Reclassification to equity) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 184.35 Td (accounted joint ventures) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 194.45 193.35 Td (\(82,900) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 222.25 193.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 278.10 193.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 342.10 193.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 386.45 193.35 Td (\(82,900) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 414.25 193.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 455.45 193.35 Td (\(34,300) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.25 193.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 524.45 193.35 Td (\(48,600) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 552.25 193.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 170.35 Td (Revaluation of deferred) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 161.35 Td (purchase price of shopping) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 152.35 Td (centre \(Note 13\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 214.10 170.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 278.10 170.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 327.00 170.35 Td (\(7,126) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 350.25 170.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.00 170.35 Td (\(7,126) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 414.25 170.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.00 170.35 Td (\(7,126) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.25 170.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 544.10 170.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 138.35 Td (Balance at end of year) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 173.00 138.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 185.75 138.35 Td (3,207,544) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 237.00 138.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 249.75 138.35 Td (1,744,533) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 301.00 138.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 313.80 138.35 Td (2,557,714) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 365.00 138.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 377.80 138.35 Td (7,509,791) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.00 138.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 446.80 138.35 Td (7,474,329) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.00 138.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.15 138.35 Td (35,462) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 124.35 Td (Investment properties non-current) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.00 124.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 446.80 124.35 Td (7,287,650) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.00 124.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.15 124.35 Td (17,008) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 110.35 Td (Investment properties classified as held for) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 101.35 Td (sale) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 453.60 104.35 Td (186,679) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.15 104.35 Td (18,454) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 89.35 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.00 89.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 446.80 89.35 Td (7,474,329) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.00 89.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.15 89.35 Td (35,462) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 133 0 obj <> endobj 134 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 736.70 Td (NO) Tj ET Q q 0 0 0 rg BT 66.82 736.70 Td (TE) Tj ET Q q 0 0 0 rg BT 75.58 736.70 Td (S T) Tj ET Q q 0 0 0 rg BT 86.08 736.70 Td (O THE INTERIM C) Tj ET Q q 0 0 0 rg BT 150.00 736.70 Td (ONSOLID) Tj ET Q q 0 0 0 rg BT 184.02 736.70 Td (A) Tj ET Q q 0 0 0 rg BT 188.77 736.70 Td (TED FINANCIAL S) Tj ET Q q 0 0 0 rg BT 251.79 736.70 Td (T) Tj ET Q q 0 0 0 rg BT 255.54 736.70 Td (A) Tj ET Q q 0 0 0 rg BT 260.29 736.70 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 291.73 736.70 Td (S c) Tj ET Q q 0 0 0 rg BT 308.26 736.70 Td (on) Tj ET Q q 0 0 0 rg BT 317.84 736.70 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (65) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 694.50 Td (In) Tj ET Q q 0 0 0 rg BT 61.61 694.50 Td (v) Tj ET Q q 0 0 0 rg BT 66.03 694.50 Td (es) Tj ET Q q 0 0 0 rg BT 74.80 694.50 Td (tmen) Tj ET Q q 0 0 0 rg BT 96.28 694.50 Td (t pr) Tj ET Q q 0 0 0 rg BT 110.46 694.50 Td (operties with a f) Tj ET Q q 0 0 0 rg BT 176.46 694.50 Td (air v) Tj ET Q q 0 0 0 rg BT 193.66 694.50 Td (alue of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 223.82 694.50 Td ($2.6 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 268.78 694.50 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 274.07 694.50 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 353.53 694.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.03 694.50 Td ($2.7 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 407.98 694.50 Td (\) ar) Tj ET Q q 0 0 0 rg BT 421.42 694.50 Td (e pledg) Tj ET Q q 0 0 0 rg BT 451.06 694.50 Td (ed as security f) Tj ET Q q 0 0 0 rg BT 511.64 694.50 Td (or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 682.50 Td ($1.1 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 98.95 682.50 Td ( in mortg) Tj ET Q q 0 0 0 rg BT 135.64 682.50 Td (ag) Tj ET Q q 0 0 0 rg BT 145.05 682.50 Td (es and cr) Tj ET Q q 0 0 0 rg BT 181.34 682.50 Td (edit f) Tj ET Q q 0 0 0 rg BT 202.33 682.50 Td (acilities.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 662.10 Td (\(b\) In) Tj ET Q q 0 0 0 rg BT 80.10 662.10 Td (v) Tj ET Q q 0 0 0 rg BT 85.66 662.10 Td (es) Tj ET Q q 0 0 0 rg BT 96.36 662.10 Td (tmen) Tj ET Q q 0 0 0 rg BT 122.65 662.10 Td (t pr) Tj ET Q q 0 0 0 rg BT 140.08 662.10 Td (operty v) Tj ET Q q 0 0 0 rg BT 181.34 662.10 Td (alua) Tj ET Q q 0 0 0 rg BT 202.46 662.10 Td (tion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 644.10 Td (Capit) Tj ET Q q 0 0 0 rg BT 74.90 644.10 Td (aliz) Tj ET Q q 0 0 0 rg BT 88.06 644.10 Td (a) Tj ET Q q 0 0 0 rg BT 92.76 644.10 Td (tion r) Tj ET Q q 0 0 0 rg BT 114.47 644.10 Td (a) Tj ET Q q 0 0 0 rg BT 119.17 644.10 Td (t) Tj ET Q q 0 0 0 rg BT 122.41 644.10 Td (es and s) Tj ET Q q 0 0 0 rg BT 154.92 644.10 Td (t) Tj ET Q q 0 0 0 rg BT 158.15 644.10 Td (abiliz) Tj ET Q q 0 0 0 rg BT 178.80 644.10 Td (ed ne) Tj ET Q q 0 0 0 rg BT 201.47 644.10 Td (t oper) Tj ET Q q 0 0 0 rg BT 225.86 644.10 Td (a) Tj ET Q q 0 0 0 rg BT 230.56 644.10 Td (ting inc) Tj ET Q q 0 0 0 rg BT 260.12 644.10 Td (ome \("SNOI"\), b) Tj ET Q q 0 0 0 rg BT 324.85 644.10 Td (y r) Tj ET Q q 0 0 0 rg BT 334.99 644.10 Td (egion, f) Tj ET Q q 0 0 0 rg BT 365.09 644.10 Td (or in) Tj ET Q q 0 0 0 rg BT 383.50 644.10 Td (v) Tj ET Q q 0 0 0 rg BT 387.92 644.10 Td (es) Tj ET Q q 0 0 0 rg BT 396.69 644.10 Td (tmen) Tj ET Q q 0 0 0 rg BT 418.17 644.10 Td (t pr) Tj ET Q q 0 0 0 rg BT 432.35 644.10 Td (operties shopping cen) Tj ET Q q 0 0 0 rg BT 529.21 644.10 Td (tr) Tj ET Q q 0 0 0 rg BT 535.91 644.10 Td (es ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 632.10 Td (ar) Tj ET Q q 0 0 0 rg BT 62.14 632.10 Td (e se) Tj ET Q q 0 0 0 rg BT 78.21 632.10 Td (t out in the t) Tj ET Q q 0 0 0 rg BT 128.84 632.10 Td (able belo) Tj ET Q q 0 0 0 rg BT 166.17 632.10 Td (w:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 621.6 m 184.5 621.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 184.5 621.6 m 195.5 621.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 195.5 621.6 m 245.5 621.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 621.6 m 257.5 621.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257.5 621.6 m 303.5 621.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 621.6 m 369.5 621.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 621.6 m 380.5 621.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369.5 608.6 m 380.5 608.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 621.6 m 429.5 621.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 621.6 m 442.5 621.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 429.5 608.6 m 442.5 608.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 621.6 m 488.5 621.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 608.6 m 488.5 608.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 621.6 m 551.5 621.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 608.6 m 184.5 608.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 569.6 m 184.5 569.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 184.5 608.6 m 195.5 608.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 184.5 569.6 m 195.5 569.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 195.5 608.6 m 245.5 608.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 195.5 569.6 m 245.5 569.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 245.5 608.6 m 257.5 608.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 245.5 569.6 m 257.5 569.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 257.5 608.6 m 303.5 608.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 257.5 569.6 m 303.5 569.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 303.5 608.6 m 369.5 608.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 303.5 569.6 m 369.5 569.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369.5 608.6 m 380.5 608.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369.5 569.6 m 380.5 569.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 608.6 m 429.5 608.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 569.6 m 429.5 569.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 429.5 608.6 m 442.5 608.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 429.5 569.6 m 442.5 569.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 608.6 m 488.5 608.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 569.6 m 488.5 569.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488.5 608.6 m 551.5 608.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488.5 569.6 m 551.5 569.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369.5 527.6 m 380.5 527.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 527.6 m 429.5 527.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 429.5 527.6 m 442.5 527.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 527.6 m 184.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 513.6 m 184.5 513.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 184.5 527.6 m 195.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 184.5 513.6 m 195.5 513.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 195.5 527.6 m 245.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 195.5 513.6 m 245.5 513.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 245.5 527.6 m 257.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 513.6 m 257.5 513.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 257.5 527.6 m 303.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257.5 513.6 m 303.5 513.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 303.5 527.6 m 369.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 513.6 m 369.5 513.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369.5 527.6 m 380.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 513.6 m 380.5 513.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 527.6 m 429.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 513.6 m 429.5 513.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 429.5 527.6 m 442.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 513.6 m 442.5 513.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442.5 527.6 m 488.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 513.6 m 488.5 513.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488.5 527.6 m 551.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 513.6 m 551.5 513.6 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 613.10 Td (As at) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.65 613.10 Td (March 31, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.40 613.10 Td (December 31, 2014) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 57.00 574.23 Td (Shopping Cen) Tj ET Q q 0 0 0 rg BT 105.13 574.23 Td (tr) Tj ET Q q 0 0 0 rg BT 111.01 574.23 Td (es) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 199.25 582.73 Td (F) Tj ET Q q 0 0 0 rg BT 202.92 582.73 Td (air V) Tj ET Q q 0 0 0 rg BT 218.70 582.73 Td (alue ) Tj ET Q BT /F2 8.50 Tf ET BT /F2 5.52 Tf ET q 0 0 0 rg BT 235.75 586.78 Td (\(1\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 202.65 574.23 Td (\($ millions\) ) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 274.20 582.73 Td (SNOI ) Tj ET Q BT /F2 8.50 Tf ET BT /F2 5.52 Tf ET q 0 0 0 rg BT 293.75 586.78 Td (\(2\) ) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 260.65 574.23 Td (\($ millions\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 332.00 599.73 Td (W) Tj ET Q q 0 0 0 rg BT 339.40 599.73 Td (eigh) Tj ET Q q 0 0 0 rg BT 354.28 599.73 Td (t) Tj ET Q q 0 0 0 rg BT 357.12 599.73 Td (ed ) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 337.55 591.23 Td (A) Tj ET Q q 0 0 0 rg BT 342.49 591.23 Td (v) Tj ET Q q 0 0 0 rg BT 346.44 591.23 Td (er) Tj ET Q q 0 0 0 rg BT 353.55 591.23 Td (ag) Tj ET Q q 0 0 0 rg BT 361.69 591.23 Td (e) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 317.85 582.73 Td (Capit) Tj ET Q q 0 0 0 rg BT 336.06 582.73 Td (aliz) Tj ET Q q 0 0 0 rg BT 347.70 582.73 Td (a) Tj ET Q q 0 0 0 rg BT 351.82 582.73 Td (tion ) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 349.95 574.23 Td (Ra) Tj ET Q q 0 0 0 rg BT 358.85 574.23 Td (t) Tj ET Q q 0 0 0 rg BT 361.70 574.23 Td (e) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 384.25 582.73 Td (F) Tj ET Q q 0 0 0 rg BT 387.93 582.73 Td (air V) Tj ET Q q 0 0 0 rg BT 403.18 582.73 Td (alue ) Tj ET Q BT /F3 8.50 Tf ET BT /F3 5.52 Tf ET q 0 0 0 rg BT 419.82 586.78 Td (\(1\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 387.70 574.23 Td (\($ millions\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 459.75 582.73 Td (SNOI ) Tj ET Q BT /F3 8.50 Tf ET BT /F3 5.52 Tf ET q 0 0 0 rg BT 478.83 586.78 Td (\(2\) ) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 446.70 574.23 Td (\($ millions\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 514.70 599.73 Td (W) Tj ET Q q 0 0 0 rg BT 521.95 599.73 Td (eigh) Tj ET Q q 0 0 0 rg BT 536.52 599.73 Td (t) Tj ET Q q 0 0 0 rg BT 539.28 599.73 Td (ed ) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 520.20 591.23 Td (A) Tj ET Q q 0 0 0 rg BT 524.96 591.23 Td (v) Tj ET Q q 0 0 0 rg BT 528.72 591.23 Td (er) Tj ET Q q 0 0 0 rg BT 535.74 591.23 Td (ag) Tj ET Q q 0 0 0 rg BT 543.74 591.23 Td (e) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 501.30 582.73 Td (Capit) Tj ET Q q 0 0 0 rg BT 519.06 582.73 Td (aliz) Tj ET Q q 0 0 0 rg BT 530.25 582.73 Td (a) Tj ET Q q 0 0 0 rg BT 534.25 582.73 Td (tion ) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 532.40 574.23 Td (Ra) Tj ET Q q 0 0 0 rg BT 541.01 574.23 Td (t) Tj ET Q q 0 0 0 rg BT 543.76 574.23 Td (e) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 560.35 Td (Central Region) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 198.00 560.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 214.60 560.35 Td (3,224.0) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 260.00 560.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 279.50 560.35 Td (178.0) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 346.30 560.35 Td (5.63) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 362.40 560.35 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 383.00 560.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 398.90 560.35 Td (3,200.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 445.00 560.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 464.70 560.35 Td (177.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.55 560.35 Td (5.63) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 544.55 560.35 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 546.35 Td (Eastern Region) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 214.60 546.35 Td (1,737.0) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 279.50 546.35 Td (108.0) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 346.30 546.35 Td (6.15) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 362.40 546.35 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 398.90 546.35 Td (1,736.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 464.70 546.35 Td (104.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.55 546.35 Td (6.18) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 544.55 546.35 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 532.35 Td (Western Region) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 214.60 532.35 Td (2,588.0) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 279.50 532.35 Td (143.0) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 346.30 532.35 Td (5.68) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 362.40 532.35 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 398.90 532.35 Td (2,538.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 464.70 532.35 Td (143.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.55 532.35 Td (5.74) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 544.55 532.35 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 518.35 Td (Total or Weighted Average) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 198.00 518.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 214.60 518.35 Td (7,549.0) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 260.00 518.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 279.50 518.35 Td (429.0) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 346.30 518.35 Td (5.77) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 362.40 518.35 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 383.00 518.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 398.90 518.35 Td (7,474.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 445.00 518.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 464.70 518.35 Td (424.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.55 518.35 Td (5.79) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 544.55 518.35 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 54.00 504.59 Td (\(1\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 500.30 Td (F) Tj ET Q q 0 0 0 rg BT 66.03 500.30 Td (air v) Tj ET Q q 0 0 0 rg BT 78.07 500.30 Td (alue of pr) Tj ET Q q 0 0 0 rg BT 105.19 500.30 Td (operties under de) Tj ET Q q 0 0 0 rg BT 155.90 500.30 Td (v) Tj ET Q q 0 0 0 rg BT 158.99 500.30 Td (elopmen) Tj ET Q q 0 0 0 rg BT 184.14 500.30 Td (t includes a deduction f) Tj ET Q q 0 0 0 rg BT 250.38 500.30 Td (or c) Tj ET Q q 0 0 0 rg BT 261.00 500.30 Td (os) Tj ET Q q 0 0 0 rg BT 267.35 500.30 Td (ts t) Tj ET Q q 0 0 0 rg BT 276.29 500.30 Td (o c) Tj ET Q q 0 0 0 rg BT 284.46 500.30 Td (omple) Tj ET Q q 0 0 0 rg BT 302.48 500.30 Td (t) Tj ET Q q 0 0 0 rg BT 304.75 500.30 Td (e of ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 317.22 500.30 Td ($267.6 million) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 357.70 500.30 Td ( as a) Tj ET Q q 0 0 0 rg BT 370.24 500.30 Td (t ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 374.17 500.30 Td (Mar) Tj ET Q q 0 0 0 rg BT 385.84 500.30 Td (ch31, 2015) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 418.68 500.30 Td ( \() Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 422.39 500.30 Td (December31, 2014) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 478.01 500.30 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 484.66 500.30 Td ($308.9 million) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 525.14 500.30 Td (\).) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 54.00 493.79 Td (\(2\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 489.50 Td (SNOI is not a measur) Tj ET Q q 0 0 0 rg BT 122.07 489.50 Td (e de) Tj ET Q q 0 0 0 rg BT 134.23 489.50 Td (fined b) Tj ET Q q 0 0 0 rg BT 154.04 489.50 Td (y IFR) Tj ET Q q 0 0 0 rg BT 167.48 489.50 Td (S. SNOI r) Tj ET Q q 0 0 0 rg BT 192.11 489.50 Td (e) Tj ET Q q 0 0 0 rg BT 195.53 489.50 Td (flects long-t) Tj ET Q q 0 0 0 rg BT 229.06 489.50 Td (erm, s) Tj ET Q q 0 0 0 rg BT 246.57 489.50 Td (t) Tj ET Q q 0 0 0 rg BT 248.82 489.50 Td (able pr) Tj ET Q q 0 0 0 rg BT 268.53 489.50 Td (operty oper) Tj ET Q q 0 0 0 rg BT 302.07 489.50 Td (a) Tj ET Q q 0 0 0 rg BT 305.36 489.50 Td (tions, assuming a cert) Tj ET Q q 0 0 0 rg BT 367.08 489.50 Td (ain le) Tj ET Q q 0 0 0 rg BT 382.36 489.50 Td (v) Tj ET Q q 0 0 0 rg BT 385.45 489.50 Td (el of v) Tj ET Q q 0 0 0 rg BT 402.59 489.50 Td (ac) Tj ET Q q 0 0 0 rg BT 408.85 489.50 Td (ancy) Tj ET Q q 0 0 0 rg BT 421.51 489.50 Td (, c) Tj ET Q q 0 0 0 rg BT 427.74 489.50 Td (apit) Tj ET Q q 0 0 0 rg BT 438.63 489.50 Td (al and oper) Tj ET Q q 0 0 0 rg BT 470.62 489.50 Td (a) Tj ET Q q 0 0 0 rg BT 473.90 489.50 Td (ting e) Tj ET Q q 0 0 0 rg BT 489.79 489.50 Td (xpenditur) Tj ET Q q 0 0 0 rg BT 517.31 489.50 Td (es ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 481.10 Td (r) Tj ET Q q 0 0 0 rg BT 65.35 481.10 Td (equir) Tj ET Q q 0 0 0 rg BT 80.14 481.10 Td (ed t) Tj ET Q q 0 0 0 rg BT 91.16 481.10 Td (o main) Tj ET Q q 0 0 0 rg BT 110.60 481.10 Td (t) Tj ET Q q 0 0 0 rg BT 112.86 481.10 Td (ain a s) Tj ET Q q 0 0 0 rg BT 130.67 481.10 Td (t) Tj ET Q q 0 0 0 rg BT 132.93 481.10 Td (able occupancy r) Tj ET Q q 0 0 0 rg BT 180.64 481.10 Td (a) Tj ET Q q 0 0 0 rg BT 183.93 481.10 Td (t) Tj ET Q q 0 0 0 rg BT 186.20 481.10 Td (e. The a) Tj ET Q q 0 0 0 rg BT 208.42 481.10 Td (v) Tj ET Q q 0 0 0 rg BT 211.51 481.10 Td (er) Tj ET Q q 0 0 0 rg BT 217.29 481.10 Td (ag) Tj ET Q q 0 0 0 rg BT 223.88 481.10 Td (e v) Tj ET Q q 0 0 0 rg BT 232.01 481.10 Td (ac) Tj ET Q q 0 0 0 rg BT 238.26 481.10 Td (ancy r) Tj ET Q q 0 0 0 rg BT 255.30 481.10 Td (a) Tj ET Q q 0 0 0 rg BT 258.59 481.10 Td (t) Tj ET Q q 0 0 0 rg BT 260.86 481.10 Td (es used in de) Tj ET Q q 0 0 0 rg BT 297.81 481.10 Td (t) Tj ET Q q 0 0 0 rg BT 300.08 481.10 Td (ermining SNOI f) Tj ET Q q 0 0 0 rg BT 344.75 481.10 Td (or non-anchor t) Tj ET Q q 0 0 0 rg BT 389.30 481.10 Td (enan) Tj ET Q q 0 0 0 rg BT 403.43 481.10 Td (ts g) Tj ET Q q 0 0 0 rg BT 413.33 481.10 Td (ener) Tj ET Q q 0 0 0 rg BT 426.27 481.10 Td (ally r) Tj ET Q q 0 0 0 rg BT 439.89 481.10 Td (ang) Tj ET Q q 0 0 0 rg BT 450.15 481.10 Td (e fr) Tj ET Q q 0 0 0 rg BT 459.68 481.10 Td (om 2% t) Tj ET Q q 0 0 0 rg BT 482.96 481.10 Td (o 5%. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 460.10 Td (The sensitivity of the f) Tj ET Q q 0 0 0 rg BT 143.58 460.10 Td (air v) Tj ET Q q 0 0 0 rg BT 160.79 460.10 Td (alues of shopping cen) Tj ET Q q 0 0 0 rg BT 248.69 460.10 Td (tr) Tj ET Q q 0 0 0 rg BT 255.39 460.10 Td (es t) Tj ET Q q 0 0 0 rg BT 269.79 460.10 Td (o c) Tj ET Q q 0 0 0 rg BT 281.47 460.10 Td (apit) Tj ET Q q 0 0 0 rg BT 297.04 460.10 Td (aliz) Tj ET Q q 0 0 0 rg BT 310.20 460.10 Td (a) Tj ET Q q 0 0 0 rg BT 314.90 460.10 Td (tion r) Tj ET Q q 0 0 0 rg BT 336.61 460.10 Td (a) Tj ET Q q 0 0 0 rg BT 341.31 460.10 Td (t) Tj ET Q q 0 0 0 rg BT 344.55 460.10 Td (es as a) Tj ET Q q 0 0 0 rg BT 371.36 460.10 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 376.97 460.10 Td (Mar) Tj ET Q q 0 0 0 rg BT 393.65 460.10 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 440.56 460.10 Td ( is se) Tj ET Q q 0 0 0 rg BT 460.12 460.10 Td (t out in the t) Tj ET Q q 0 0 0 rg BT 510.74 460.10 Td (able ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 448.10 Td (belo) Tj ET Q q 0 0 0 rg BT 71.76 448.10 Td (w:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 55 437.6 m 404 437.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 55 422.6 m 404 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 437.6 m 505 437.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 437.6 m 553 437.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 55 422.6 m 404 422.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 55 398.6 m 404 398.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404 422.6 m 505 422.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404 398.6 m 505 398.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505 422.6 m 553 422.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505 398.6 m 553 398.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 55 398.6 m 404 398.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404 398.6 m 505 398.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505 398.6 m 553 398.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 55 318.6 m 404 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 318.6 m 505 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 318.6 m 553 318.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.50 427.35 Td (As at March 31, 2015) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 443.30 427.35 Td (\(millions of Canadian dollars\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.50 403.35 Td (\(Decrease\) Increase in capitalization rate) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.35 412.35 Td (Resulting increase \(decrease\) in) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 455.90 403.35 Td (value of shopping centres) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.50 388.35 Td (\(0.75\)%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 507.50 389.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.25 389.35 Td (1,041) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.50 375.35 Td (\(0.50\)%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 507.50 376.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.05 376.35 Td (661) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.50 362.35 Td (\(0.25\)%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 507.50 363.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.05 363.35 Td (316) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.50 349.35 Td (0.25%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 507.50 350.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.30 350.35 Td (\(289) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.75 350.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.50 336.35 Td (0.50%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 507.50 337.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.30 337.35 Td (\(556) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.75 337.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.50 323.35 Td (0.75%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 507.50 323.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.30 323.35 Td (\(801) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.75 323.35 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 301.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 101.95 301.10 Td (, a 1% incr) Tj ET Q q 0 0 0 rg BT 143.37 301.10 Td (ease or decr) Tj ET Q q 0 0 0 rg BT 193.12 301.10 Td (ease in SNOI w) Tj ET Q q 0 0 0 rg BT 253.35 301.10 Td (ould r) Tj ET Q q 0 0 0 rg BT 277.04 301.10 Td (esult in an incr) Tj ET Q q 0 0 0 rg BT 336.33 301.10 Td (ease or decr) Tj ET Q q 0 0 0 rg BT 386.08 301.10 Td (ease, r) Tj ET Q q 0 0 0 rg BT 412.84 301.10 Td (espectiv) Tj ET Q q 0 0 0 rg BT 446.25 301.10 Td (ely) Tj ET Q q 0 0 0 rg BT 457.33 301.10 Td (, in the f) Tj ET Q q 0 0 0 rg BT 490.59 301.10 Td (air v) Tj ET Q q 0 0 0 rg BT 507.79 301.10 Td (alue of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 289.10 Td (shopping cen) Tj ET Q q 0 0 0 rg BT 107.83 289.10 Td (tr) Tj ET Q q 0 0 0 rg BT 114.53 289.10 Td (es of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 136.27 289.10 Td ($70 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 181.43 289.10 Td (. A 1% incr) Tj ET Q q 0 0 0 rg BT 223.87 289.10 Td (ease in SNOI c) Tj ET Q q 0 0 0 rg BT 281.19 289.10 Td (oupled with a 0.25% decr) Tj ET Q q 0 0 0 rg BT 384.06 289.10 Td (ease in c) Tj ET Q q 0 0 0 rg BT 418.93 289.10 Td (apit) Tj ET Q q 0 0 0 rg BT 434.50 289.10 Td (aliz) Tj ET Q q 0 0 0 rg BT 447.66 289.10 Td (a) Tj ET Q q 0 0 0 rg BT 452.36 289.10 Td (tion r) Tj ET Q q 0 0 0 rg BT 474.07 289.10 Td (a) Tj ET Q q 0 0 0 rg BT 478.77 289.10 Td (t) Tj ET Q q 0 0 0 rg BT 482.01 289.10 Td (e w) Tj ET Q q 0 0 0 rg BT 496.30 289.10 Td (ould r) Tj ET Q q 0 0 0 rg BT 520.00 289.10 Td (esult ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 277.10 Td (in an incr) Tj ET Q q 0 0 0 rg BT 91.25 277.10 Td (ease in the f) Tj ET Q q 0 0 0 rg BT 140.67 277.10 Td (air v) Tj ET Q q 0 0 0 rg BT 157.87 277.10 Td (alue of shopping cen) Tj ET Q q 0 0 0 rg BT 241.86 277.10 Td (tr) Tj ET Q q 0 0 0 rg BT 248.56 277.10 Td (es of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 270.29 277.10 Td ($388 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 320.52 277.10 Td (, and a 1% decr) Tj ET Q q 0 0 0 rg BT 382.18 277.10 Td (ease in SNOI c) Tj ET Q q 0 0 0 rg BT 439.50 277.10 Td (oupled with a 0.25% ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 265.10 Td (incr) Tj ET Q q 0 0 0 rg BT 69.13 265.10 Td (ease in c) Tj ET Q q 0 0 0 rg BT 104.00 265.10 Td (apit) Tj ET Q q 0 0 0 rg BT 119.57 265.10 Td (aliz) Tj ET Q q 0 0 0 rg BT 132.73 265.10 Td (a) Tj ET Q q 0 0 0 rg BT 137.43 265.10 Td (tion r) Tj ET Q q 0 0 0 rg BT 159.14 265.10 Td (a) Tj ET Q q 0 0 0 rg BT 163.84 265.10 Td (t) Tj ET Q q 0 0 0 rg BT 167.08 265.10 Td (e w) Tj ET Q q 0 0 0 rg BT 181.37 265.10 Td (ould r) Tj ET Q q 0 0 0 rg BT 205.06 265.10 Td (esult in a decr) Tj ET Q q 0 0 0 rg BT 261.78 265.10 Td (ease in the f) Tj ET Q q 0 0 0 rg BT 311.20 265.10 Td (air v) Tj ET Q q 0 0 0 rg BT 328.40 265.10 Td (alue of shopping cen) Tj ET Q q 0 0 0 rg BT 412.39 265.10 Td (tr) Tj ET Q q 0 0 0 rg BT 419.10 265.10 Td (es of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 440.83 265.10 Td ($356 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 491.06 265.10 Td (.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 241.70 Td (\(c\) In) Tj ET Q q 0 0 0 rg BT 78.68 241.70 Td (v) Tj ET Q q 0 0 0 rg BT 84.25 241.70 Td (es) Tj ET Q q 0 0 0 rg BT 94.94 241.70 Td (tmen) Tj ET Q q 0 0 0 rg BT 121.23 241.70 Td (t pr) Tj ET Q q 0 0 0 rg BT 138.66 241.70 Td (operties Acquisitions) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 226.70 Td (During the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.25 226.70 Td (thr) Tj ET Q q 0 0 0 rg BT 111.21 226.70 Td (ee mon) Tj ET Q q 0 0 0 rg BT 141.84 226.70 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 201.27 226.70 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.18 226.70 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 268.00 226.70 Td (2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 288.27 226.70 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 342.57 226.70 Td (y acquir) Tj ET Q q 0 0 0 rg BT 374.54 226.70 Td (ed shopping cen) Tj ET Q q 0 0 0 rg BT 440.86 226.70 Td (tr) Tj ET Q q 0 0 0 rg BT 447.56 226.70 Td (es and 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9.00 Tf ET q 0 0 0 rg BT 57.00 631.25 Td (Aggregate fair value) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 408.00 631.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.25 631.25 Td (75,596) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 480.00 631.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 512.90 631.25 Td (205,133) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 610.00 Td (The ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 71.36 610.00 Td ($129.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 129.19 610.00 Td ( decr) Tj ET Q q 0 0 0 rg BT 149.26 610.00 Td (ease in in) Tj ET Q q 0 0 0 rg BT 187.36 610.00 Td (v) Tj ET Q q 0 0 0 rg BT 191.78 610.00 Td (es) Tj ET Q q 0 0 0 rg BT 200.56 610.00 Td (tmen) Tj ET Q q 0 0 0 rg BT 222.03 610.00 Td (t pr) Tj ET Q q 0 0 0 rg BT 236.22 610.00 Td (operties classified as held f) Tj ET Q q 0 0 0 rg BT 345.11 610.00 Td (or sale fr) Tj ET Q q 0 0 0 rg BT 380.74 610.00 Td (om ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 396.27 610.00 Td (December 31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 475.73 610.00 Td (, arises fr) Tj ET Q q 0 0 0 rg BT 512.49 610.00 Td (om a ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 598.00 Td (fir) Tj ET Q q 0 0 0 rg BT 62.66 598.00 Td (s) Tj ET Q q 0 0 0 rg BT 66.46 598.00 Td (t quart) Tj ET Q q 0 0 0 rg BT 94.10 598.00 Td (er 2015 disposition of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 184.57 598.00 Td ($21.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 237.32 598.00 Td ( with the r) Tj ET Q q 0 0 0 rg BT 279.08 598.00 Td (emainder being tr) Tj ET Q q 0 0 0 rg BT 351.74 598.00 Td (ans) Tj ET Q q 0 0 0 rg BT 365.60 598.00 Td (f) Tj ET Q q 0 0 0 rg BT 368.40 598.00 Td (er) Tj ET Q q 0 0 0 rg BT 376.70 598.00 Td (s back t) Tj ET Q q 0 0 0 rg BT 407.20 598.00 Td (o in) Tj ET Q q 0 0 0 rg BT 422.12 598.00 Td (v) Tj ET Q q 0 0 0 rg BT 426.53 598.00 Td (es) Tj ET Q q 0 0 0 rg BT 435.31 598.00 Td (tmen) Tj ET Q q 0 0 0 rg BT 456.78 598.00 Td (t pr) Tj ET Q q 0 0 0 rg BT 470.97 598.00 Td (operties - ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 586.00 Td (shopping cen) Tj ET Q q 0 0 0 rg BT 107.83 586.00 Td (tr) Tj ET Q q 0 0 0 rg BT 114.53 586.00 Td (es and in) Tj ET Q q 0 0 0 rg BT 150.62 586.00 Td (v) Tj ET Q q 0 0 0 rg BT 155.04 586.00 Td (es) Tj ET Q q 0 0 0 rg BT 163.81 586.00 Td (tmen) Tj ET Q q 0 0 0 rg BT 185.29 586.00 Td (t pr) Tj ET Q q 0 0 0 rg BT 199.48 586.00 Td (operties - de) Tj ET Q q 0 0 0 rg BT 250.76 586.00 Td (v) Tj ET Q q 0 0 0 rg BT 255.18 586.00 Td (elopmen) Tj ET Q q 0 0 0 rg BT 291.10 586.00 Td (t land r) Tj ET Q q 0 0 0 rg BT 319.92 586.00 Td (esulting fr) Tj ET Q q 0 0 0 rg BT 360.60 586.00 Td (om a slo) Tj ET Q q 0 0 0 rg BT 394.62 586.00 Td (w) Tj ET Q q 0 0 0 rg BT 401.68 586.00 Td (er than e) Tj ET Q q 0 0 0 rg BT 438.13 586.00 Td (xpect) Tj ET Q q 0 0 0 rg BT 460.16 586.00 Td (ed disposition ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 574.00 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 574.00 Td (ogr) Tj ET Q q 0 0 0 rg BT 75.84 574.00 Td (am.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 559.00 Td (F) Tj ET Q q 0 0 0 rg BT 58.46 559.00 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.32 559.00 Td (thr) Tj ET Q q 0 0 0 rg BT 97.28 559.00 Td (ee mon) Tj ET Q q 0 0 0 rg BT 127.91 559.00 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 187.34 559.00 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 234.25 559.00 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 254.07 559.00 Td (2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 274.34 559.00 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 328.64 559.00 Td (y sold shopping cen) Tj ET Q q 0 0 0 rg BT 408.25 559.00 Td (tr) Tj ET Q q 0 0 0 rg BT 414.96 559.00 Td (es and de) Tj ET Q q 0 0 0 rg BT 453.84 559.00 Td (v) Tj ET Q q 0 0 0 rg BT 458.26 559.00 Td (elopmen) Tj ET Q q 0 0 0 rg BT 494.19 559.00 Td (t land as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 547.00 Td (f) Tj ET Q q 0 0 0 rg BT 56.84 547.00 Td (ollo) Tj ET Q q 0 0 0 rg BT 71.94 547.00 Td (w) Tj ET Q q 0 0 0 rg BT 79.00 547.00 Td (s:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 536.5 m 401.5 536.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 521.5 m 401.5 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 536.5 m 475.5 536.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401.5 521.5 m 475.5 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 536.5 m 549.5 536.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 521.5 m 549.5 521.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 492.5 m 401.5 492.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401.5 492.5 m 475.5 492.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 521.5 m 549.5 521.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 492.5 m 549.5 492.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 466.5 m 401.5 466.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 453.5 m 401.5 453.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401.5 466.5 m 475.5 466.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 453.5 m 475.5 453.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 466.5 m 549.5 466.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 453.5 m 549.5 453.5 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 526.00 Td (Three months ended March 31) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.75 526.00 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 529.75 526.00 Td (2014) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 497.00 Td (\(thousands of Canadian dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.95 513.00 Td (Shopping) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.40 505.00 Td (Centres and) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 409.40 497.00 Td (Development Land) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 515.65 513.00 Td (Shopping) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 507.10 505.00 Td (Centres and) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.75 497.00 Td (Development Land) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 483.25 Td (Total sales price) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 404.00 483.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 447.00 483.25 Td (21,500) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 478.00 483.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.75 483.25 Td (4,046) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 470.25 Td (Property selling costs) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.65 470.25 Td (\(384) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.15 470.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.80 470.25 Td (\(108) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.25 470.25 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 457.25 Td (Total cash proceeds) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 404.00 457.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 447.00 457.25 Td (21,116) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 478.00 457.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.75 457.25 Td (3,938) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 430.60 Td (\(e\) R) Tj ET Q q 0 0 0 rg BT 76.81 430.60 Td (ec) Tj ET Q q 0 0 0 rg BT 87.81 430.60 Td (oncilia) Tj ET Q q 0 0 0 rg BT 120.38 430.60 Td (tion of in) Tj ET Q q 0 0 0 rg BT 165.27 430.60 Td (v) Tj ET Q q 0 0 0 rg BT 170.84 430.60 Td (es) Tj ET Q q 0 0 0 rg BT 181.53 430.60 Td (tmen) Tj ET Q q 0 0 0 rg BT 207.82 430.60 Td (t pr) Tj ET Q q 0 0 0 rg BT 225.25 430.60 Td (operties t) Tj ET Q q 0 0 0 rg BT 273.14 430.60 Td (o t) Tj ET Q q 0 0 0 rg BT 286.35 430.60 Td (ot) Tj ET Q q 0 0 0 rg BT 296.84 430.60 Td (al asse) Tj ET Q q 0 0 0 rg BT 329.88 430.60 Td (ts) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 412.60 Td (Shopping cen) Tj ET Q q 0 0 0 rg BT 108.51 412.60 Td (tr) Tj ET Q q 0 0 0 rg BT 115.22 412.60 Td (es and de) Tj ET Q q 0 0 0 rg BT 154.10 412.60 Td (v) Tj ET Q q 0 0 0 rg BT 158.52 412.60 Td (elopmen) Tj ET Q q 0 0 0 rg BT 194.44 412.60 Td (t land b) Tj ET Q q 0 0 0 rg BT 225.11 412.60 Td (y r) Tj ET Q q 0 0 0 rg BT 235.25 412.60 Td (egion and a r) Tj ET Q q 0 0 0 rg BT 287.98 412.60 Td (ec) Tj ET Q q 0 0 0 rg BT 297.11 412.60 Td (oncilia) Tj ET Q q 0 0 0 rg BT 323.44 412.60 Td (tion t) Tj ET Q q 0 0 0 rg BT 345.13 412.60 Td (o t) Tj ET Q q 0 0 0 rg BT 355.91 412.60 Td (ot) Tj ET Q q 0 0 0 rg BT 364.42 412.60 Td (al asse) Tj ET Q q 0 0 0 rg BT 391.29 412.60 Td (ts ar) Tj ET Q q 0 0 0 rg BT 408.96 412.60 Td (e se) Tj ET Q q 0 0 0 rg BT 425.03 412.60 Td (t out in the t) Tj ET Q q 0 0 0 rg BT 475.66 412.60 Td (ables belo) Tj ET Q q 0 0 0 rg BT 516.90 412.60 Td (w:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 402.1 m 292.5 402.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 402.1 m 356.5 402.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 402.1 m 420.5 402.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 402.1 m 484.5 402.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 402.1 m 548.5 402.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 380.1 m 292.5 380.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 365.1 m 292.5 365.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 292.5 380.1 m 356.5 380.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 292.5 365.1 m 356.5 365.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 356.5 380.1 m 420.5 380.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 356.5 365.1 m 420.5 365.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 380.1 m 484.5 380.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 365.1 m 484.5 365.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 484.5 380.1 m 548.5 380.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 484.5 365.1 m 548.5 365.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 287.1 m 292.5 287.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 272.1 m 292.5 272.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 292.5 287.1 m 356.5 287.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 272.1 m 356.5 272.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 356.5 287.1 m 420.5 287.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 272.1 m 420.5 272.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 287.1 m 484.5 287.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 272.1 m 484.5 272.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 484.5 287.1 m 548.5 287.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 272.1 m 548.5 272.1 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 59.00 392.60 Td (As at March 31, 2015) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 59.00 384.60 Td (\(thousands of Canadian dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.15 392.60 Td (Cen) Tj ET Q q 0 0 0 rg BT 341.63 392.60 Td (tr) Tj ET Q q 0 0 0 rg BT 347.07 392.60 Td (al) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 330.20 384.60 Td (R) Tj ET Q q 0 0 0 rg BT 334.59 384.60 Td (egion) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.30 392.60 Td (E) Tj ET Q q 0 0 0 rg BT 396.10 392.60 Td (as) Tj ET Q q 0 0 0 rg BT 403.15 392.60 Td (t) Tj ET Q q 0 0 0 rg BT 405.82 392.60 Td (ern) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.20 384.60 Td (R) Tj ET Q q 0 0 0 rg BT 398.59 384.60 Td (egion) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.05 392.60 Td (W) Tj ET Q q 0 0 0 rg BT 460.01 392.60 Td (es) Tj ET Q q 0 0 0 rg BT 467.14 392.60 Td (t) Tj ET Q q 0 0 0 rg BT 469.82 392.60 Td (ern) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.20 384.60 Td (R) Tj ET Q q 0 0 0 rg BT 462.59 384.60 Td (egion) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 528.80 384.60 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 369.85 Td (T) Tj ET Q q 0 0 0 rg BT 60.59 369.85 Td (ot) Tj ET Q q 0 0 0 rg BT 68.24 369.85 Td (al shopping cen) Tj ET Q q 0 0 0 rg BT 125.09 369.85 Td (tr) Tj ET Q q 0 0 0 rg BT 131.13 369.85 Td (es and de) Tj ET Q q 0 0 0 rg BT 166.13 369.85 Td (v) Tj ET Q q 0 0 0 rg BT 170.10 369.85 Td (elopmen) Tj ET Q q 0 0 0 rg BT 202.43 369.85 Td (t land) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 223.32 374.14 Td ( \(1\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.00 369.85 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 316.55 369.85 Td (3,231,322) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 368.00 369.85 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 380.55 369.85 Td (1,745,289) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 432.00 369.85 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 444.55 369.85 Td (2,604,729) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 496.00 369.85 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 508.55 369.85 Td (7,581,340) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 355.85 Td (Cash and cash equivalents) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 520.00 355.85 Td (23,724) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 342.85 Td (Loans, mortgages and other real estate assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 515.45 342.85 Td (176,185) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 329.85 Td (Other assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 520.00 329.85 Td (39,554) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 316.85 Td (Amounts receivable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 520.00 316.85 Td (20,976) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 303.85 Td (Investment in joint ventures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 515.45 303.85 Td (176,757) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 290.85 Td (Residential development inventory) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 524.55 290.85 Td (3,974) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 276.85 Td (Total assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 487.00 276.85 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 508.55 276.85 Td (8,022,510) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 250.10000000000002 m 294.5 250.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 250.10000000000002 m 357.5 250.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 250.10000000000002 m 420.5 250.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 250.10000000000002 m 483.5 250.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 250.10000000000002 m 546.5 250.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 228.10000000000002 m 294.5 228.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 213.10000000000002 m 294.5 213.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 294.5 228.10000000000002 m 357.5 228.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 294.5 213.10000000000002 m 357.5 213.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357.5 228.10000000000002 m 420.5 228.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357.5 213.10000000000002 m 420.5 213.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 228.10000000000002 m 483.5 228.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 213.10000000000002 m 483.5 213.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 228.10000000000002 m 546.5 228.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 213.10000000000002 m 546.5 213.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 135.10000000000002 m 546.5 135.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 135.10000000000002 m 294.5 135.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 120.10000000000002 m 294.5 120.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 294.5 135.10000000000002 m 357.5 135.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 120.10000000000002 m 357.5 120.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357.5 135.10000000000002 m 420.5 135.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 120.10000000000002 m 420.5 120.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 135.10000000000002 m 483.5 135.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 120.10000000000002 m 483.5 120.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 135.10000000000002 m 546.5 135.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 120.10000000000002 m 546.5 120.10000000000002 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 59.00 240.60 Td (As at December 31, 2014) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 59.00 232.60 Td (\(thousands of Canadian dollars\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 330.65 240.60 Td (Cen) Tj ET Q q 0 0 0 rg BT 343.02 240.60 Td (tr) Tj ET Q q 0 0 0 rg BT 348.33 240.60 Td (al) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 331.75 232.60 Td (R) Tj ET Q q 0 0 0 rg BT 335.95 232.60 Td (egion) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 392.75 240.60 Td (E) Tj ET Q q 0 0 0 rg BT 396.52 240.60 Td (as) Tj ET Q q 0 0 0 rg BT 403.39 240.60 Td (t) Tj ET Q q 0 0 0 rg BT 405.99 240.60 Td (ern) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 394.75 232.60 Td (R) Tj ET Q q 0 0 0 rg BT 398.95 232.60 Td (egion) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 452.55 240.60 Td (W) Tj ET Q q 0 0 0 rg BT 459.37 240.60 Td (es) Tj ET Q q 0 0 0 rg BT 466.39 240.60 Td (t) Tj ET Q q 0 0 0 rg BT 468.99 240.60 Td (ern) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 457.75 232.60 Td (R) Tj ET Q q 0 0 0 rg BT 461.95 232.60 Td (egion) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 527.30 232.60 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 217.85 Td (T) Tj ET Q q 0 0 0 rg BT 60.59 217.85 Td (ot) Tj ET Q q 0 0 0 rg BT 68.24 217.85 Td (al shopping cen) Tj ET Q q 0 0 0 rg BT 125.09 217.85 Td (tr) Tj ET Q q 0 0 0 rg BT 131.13 217.85 Td (es and de) Tj ET Q q 0 0 0 rg BT 166.13 217.85 Td (v) Tj ET Q q 0 0 0 rg BT 170.10 217.85 Td (elopmen) Tj ET Q q 0 0 0 rg BT 202.43 217.85 Td (t land ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 225.35 222.14 Td (\(1\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.00 217.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.80 217.85 Td (3,207,544) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 369.00 217.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 380.80 217.85 Td (1,744,533) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 432.00 217.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 443.80 217.85 Td (2,557,714) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 495.00 217.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.80 217.85 Td (7,509,791) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 203.85 Td (Cash and cash equivalents) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 518.15 203.85 Td (17,351) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 190.85 Td (Loans, mortgages and other real estate assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 513.60 190.85 Td (176,209) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 177.85 Td (Other assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 518.15 177.85 Td (45,753) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 164.85 Td (Amounts receivable) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 518.15 164.85 Td (16,580) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 151.85 Td (Investment in joint ventures) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 513.60 151.85 Td (138,578) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 138.85 Td (Residential development inventory) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.75 138.85 Td (3,922) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 124.85 Td (Total assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 495.00 124.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.80 124.85 Td (7,908,184) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 111.94 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.06 108.60 Td ( ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 108.60 Td (Includes in) Tj ET Q q 0 0 0 rg BT 93.33 108.60 Td (v) Tj ET Q q 0 0 0 rg BT 96.43 108.60 Td (es) Tj ET Q q 0 0 0 rg BT 102.57 108.60 Td (tmen) Tj ET Q q 0 0 0 rg BT 117.60 108.60 Td (t pr) Tj ET Q q 0 0 0 rg BT 127.53 108.60 Td (operties classified as held f) Tj ET Q q 0 0 0 rg BT 203.76 108.60 Td (or sale.) Tj ET Q endstream endobj 137 0 obj <> endobj 138 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 736.70 Td (NO) Tj ET Q q 0 0 0 rg BT 66.82 736.70 Td (TE) Tj ET Q q 0 0 0 rg BT 75.58 736.70 Td (S T) Tj ET Q q 0 0 0 rg BT 86.08 736.70 Td (O THE INTERIM C) Tj ET Q q 0 0 0 rg BT 150.00 736.70 Td (ONSOLID) Tj ET Q q 0 0 0 rg BT 184.02 736.70 Td (A) Tj ET Q q 0 0 0 rg BT 188.77 736.70 Td (TED FINANCIAL S) Tj ET Q q 0 0 0 rg BT 251.79 736.70 Td (T) Tj ET Q q 0 0 0 rg BT 255.54 736.70 Td (A) Tj ET Q q 0 0 0 rg BT 260.29 736.70 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 291.73 736.70 Td (S c) Tj ET Q q 0 0 0 rg BT 308.26 736.70 Td (on) Tj ET Q q 0 0 0 rg BT 317.84 736.70 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (67) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 691.50 Td (6) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 61.10 691.50 Td (. L) Tj ET Q q 0 0 0 rg BT 73.67 691.50 Td (O) Tj ET Q q 0 0 0 rg BT 82.95 691.50 Td (ANS, MOR) Tj ET Q q 0 0 0 rg BT 143.50 691.50 Td (T) Tj ET Q q 0 0 0 rg BT 150.04 691.50 Td (GA) Tj ET Q q 0 0 0 rg BT 167.28 691.50 Td (GE) Tj ET Q q 0 0 0 rg BT 182.89 691.50 Td (S AND O) Tj ET Q q 0 0 0 rg BT 231.53 691.50 Td (THER RE) Tj ET Q q 0 0 0 rg BT 279.71 691.50 Td (AL E) Tj ET Q q 0 0 0 rg BT 303.97 691.50 Td (S) Tj ET Q q 0 0 0 rg BT 310.45 691.50 Td (T) Tj ET Q q 0 0 0 rg BT 316.28 691.50 Td (A) Tj ET Q q 0 0 0 rg BT 323.67 691.50 Td (TE ASSET) Tj ET Q q 0 0 0 rg BT 376.01 691.50 Td (S) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 675 m 395.5 675 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 660 m 395.5 660 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 675 m 420.5 675 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 660 m 420.5 660 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 675 m 475.5 675 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 660 m 475.5 660 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 675 m 500.5 675 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 660 m 500.5 660 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 675 m 555.5 675 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 660 m 555.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 621 m 395.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 606 m 395.5 606 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 621 m 420.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 606 m 420.5 606 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 621 m 475.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 606 m 475.5 606 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 621 m 500.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 606 m 500.5 606 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 621 m 555.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 606 m 555.5 606 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 539 m 395.5 539 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 526 m 395.5 526 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 539 m 420.5 539 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 526 m 420.5 526 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 539 m 475.5 539 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 526 m 475.5 526 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 539 m 500.5 539 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 526 m 500.5 526 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 539 m 555.5 539 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 526 m 555.5 526 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 511 m 395.5 511 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 511 m 420.5 511 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 511 m 475.5 511 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 511 m 500.5 511 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 511 m 555.5 511 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 664.50 Td (As at \(thousands of Canadian dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 420.65 664.50 Td (March 31, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 488.40 664.50 Td (December 31, 2014) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 650.75 Td (Non-current) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 637.75 Td (Loans and mortgages receivable \(a\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 423.00 637.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 442.45 637.75 Td (100,710) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 637.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.15 637.75 Td (92,132) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 624.75 Td (FVTPL investments in limited partnership) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 451.55 624.75 Td (4,178) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.75 624.75 Td (4,099) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 610.75 Td (Total non-current) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 423.00 610.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 442.45 610.75 Td (104,888) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 610.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.15 610.75 Td (96,231) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 595.75 Td (Current) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 581.75 Td (FVTPL investments in in equity securities \(b\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 423.00 581.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 447.00 581.75 Td (12,783) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 581.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.15 581.75 Td (33,370) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 568.75 Td (Available-for-sale investments in equity securities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 458.45 568.75 Td (161) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.55 568.75 Td (292) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 555.75 Td (Loans and mortgages receivable \(a\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 447.00 555.75 Td (58,103) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.15 555.75 Td (46,067) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 542.75 Td (Other receivable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 458.45 542.75 Td (250) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.55 542.75 Td (249) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 529.75 Td (Total current) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 447.00 529.75 Td (71,297) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.15 529.75 Td (79,978) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 515.75 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 423.00 515.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 442.45 515.75 Td (176,185) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 515.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.60 515.75 Td (176,209) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 496.50 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 67.50 496.50 Td (Loans and mortg) Tj ET Q q 0 0 0 rg BT 135.37 496.50 Td (ag) Tj ET Q q 0 0 0 rg BT 144.79 496.50 Td (es r) Tj ET Q q 0 0 0 rg BT 159.29 496.50 Td (eceiv) Tj ET Q q 0 0 0 rg BT 180.13 496.50 Td (able ar) Tj ET Q q 0 0 0 rg BT 207.85 496.50 Td (e secur) Tj ET Q q 0 0 0 rg BT 236.81 496.50 Td (ed b) Tj ET Q q 0 0 0 rg BT 254.51 496.50 Td (y in) Tj ET Q q 0 0 0 rg BT 268.75 496.50 Td (t) Tj ET Q q 0 0 0 rg BT 271.99 496.50 Td (er) Tj ET Q q 0 0 0 rg BT 280.32 496.50 Td (es) Tj ET Q q 0 0 0 rg BT 289.10 496.50 Td (ts in in) Tj ET Q q 0 0 0 rg BT 315.81 496.50 Td (v) Tj ET Q q 0 0 0 rg BT 320.23 496.50 Td (es) Tj ET Q q 0 0 0 rg BT 329.00 496.50 Td (tmen) Tj ET Q q 0 0 0 rg BT 350.48 496.50 Td (t pr) Tj ET Q q 0 0 0 rg BT 364.67 496.50 Td (operties or shar) Tj ET Q q 0 0 0 rg BT 428.78 496.50 Td (es of en) Tj ET Q q 0 0 0 rg BT 460.65 496.50 Td (tities o) Tj ET Q q 0 0 0 rg BT 488.32 496.50 Td (wning ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 484.50 Td (in) Tj ET Q q 0 0 0 rg BT 74.88 484.50 Td (v) Tj ET Q q 0 0 0 rg BT 79.30 484.50 Td (es) Tj ET Q q 0 0 0 rg BT 88.08 484.50 Td (tmen) Tj ET Q q 0 0 0 rg BT 109.55 484.50 Td (t pr) Tj ET Q q 0 0 0 rg BT 123.74 484.50 Td (operties. The non-curr) Tj ET Q q 0 0 0 rg BT 214.58 484.50 Td (en) Tj ET Q q 0 0 0 rg BT 224.71 484.50 Td (t balance of the these r) Tj ET Q q 0 0 0 rg BT 318.68 484.50 Td (eceiv) Tj ET Q q 0 0 0 rg BT 339.52 484.50 Td (ables bear in) Tj ET Q q 0 0 0 rg BT 391.23 484.50 Td (t) Tj ET Q q 0 0 0 rg BT 394.47 484.50 Td (er) Tj ET Q q 0 0 0 rg BT 402.80 484.50 Td (es) Tj ET Q q 0 0 0 rg BT 411.58 484.50 Td (t a) Tj ET Q q 0 0 0 rg BT 421.88 484.50 Td (t a w) Tj ET Q q 0 0 0 rg BT 441.61 484.50 Td (eigh) Tj ET Q q 0 0 0 rg BT 458.75 484.50 Td (t) Tj ET Q q 0 0 0 rg BT 461.99 484.50 Td (ed a) Tj ET Q q 0 0 0 rg BT 479.10 484.50 Td (v) Tj ET Q q 0 0 0 rg BT 483.52 484.50 Td (er) Tj ET Q q 0 0 0 rg BT 491.78 484.50 Td (ag) Tj ET Q q 0 0 0 rg BT 501.19 484.50 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 472.50 Td (c) Tj ET Q q 0 0 0 rg BT 71.65 472.50 Td (oupon and e) Tj ET Q q 0 0 0 rg BT 122.66 472.50 Td (f) Tj ET Q q 0 0 0 rg BT 125.62 472.50 Td (f) Tj ET Q q 0 0 0 rg BT 128.42 472.50 Td (ectiv) Tj ET Q q 0 0 0 rg BT 147.69 472.50 Td (e in) Tj ET Q q 0 0 0 rg BT 162.38 472.50 Td (t) Tj ET Q q 0 0 0 rg BT 165.62 472.50 Td (er) Tj ET Q q 0 0 0 rg BT 173.95 472.50 Td (es) Tj ET Q q 0 0 0 rg BT 182.72 472.50 Td (t r) Tj ET Q q 0 0 0 rg BT 191.62 472.50 Td (a) Tj ET Q q 0 0 0 rg BT 196.31 472.50 Td (t) Tj ET Q q 0 0 0 rg BT 199.56 472.50 Td (e as a) Tj ET Q q 0 0 0 rg BT 222.45 472.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 228.06 472.50 Td (Mar) Tj ET Q q 0 0 0 rg BT 244.74 472.50 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 291.65 472.50 Td ( of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 304.50 472.50 Td (5.97%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 329.38 472.50 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 349.19 472.50 Td (5.93%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 374.07 472.50 Td ( per annum, r) Tj ET Q q 0 0 0 rg BT 428.96 472.50 Td (espectiv) Tj ET Q q 0 0 0 rg BT 462.37 472.50 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 460.50 Td (\() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 70.53 460.50 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 150.00 460.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 159.50 460.50 Td (5.65%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 184.38 460.50 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 204.19 460.50 Td (5.93%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 229.07 460.50 Td ( per annum\) and ma) Tj ET Q q 0 0 0 rg BT 311.39 460.50 Td (tur) Tj ET Q q 0 0 0 rg BT 323.34 460.50 Td (e be) Tj ET Q q 0 0 0 rg BT 340.76 460.50 Td (tw) Tj ET Q q 0 0 0 rg BT 351.17 460.50 Td (een 2016 and 2025. The curr) Tj ET Q q 0 0 0 rg BT 467.47 460.50 Td (en) Tj ET Q q 0 0 0 rg BT 477.61 460.50 Td (t balance of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 448.50 Td (loans and mortg) Tj ET Q q 0 0 0 rg BT 133.46 448.50 Td (ag) Tj ET Q q 0 0 0 rg BT 142.88 448.50 Td (es r) Tj ET Q q 0 0 0 rg BT 157.38 448.50 Td (eceiv) Tj ET Q q 0 0 0 rg BT 178.22 448.50 Td (able bear in) Tj ET Q q 0 0 0 rg BT 226.02 448.50 Td (t) Tj ET Q q 0 0 0 rg BT 229.26 448.50 Td (er) Tj ET Q q 0 0 0 rg BT 237.59 448.50 Td (es) Tj ET Q q 0 0 0 rg BT 246.37 448.50 Td (t a) Tj ET Q q 0 0 0 rg BT 256.67 448.50 Td (t a w) Tj ET Q q 0 0 0 rg BT 276.40 448.50 Td (eigh) Tj ET Q q 0 0 0 rg BT 293.54 448.50 Td (t) Tj ET Q q 0 0 0 rg BT 296.78 448.50 Td (ed a) Tj ET Q q 0 0 0 rg BT 313.89 448.50 Td (v) Tj ET Q q 0 0 0 rg BT 318.31 448.50 Td (er) Tj ET Q q 0 0 0 rg BT 326.57 448.50 Td (ag) Tj ET Q q 0 0 0 rg BT 335.98 448.50 Td (e c) Tj ET Q q 0 0 0 rg BT 347.36 448.50 Td (oupon and e) Tj ET Q q 0 0 0 rg BT 398.38 448.50 Td (f) Tj ET Q q 0 0 0 rg BT 401.33 448.50 Td (f) Tj ET Q q 0 0 0 rg BT 404.14 448.50 Td (ectiv) Tj ET Q q 0 0 0 rg BT 423.40 448.50 Td (e in) Tj ET Q q 0 0 0 rg BT 438.10 448.50 Td (t) Tj ET Q q 0 0 0 rg BT 441.34 448.50 Td (er) Tj ET Q q 0 0 0 rg BT 449.67 448.50 Td (es) Tj ET Q q 0 0 0 rg BT 458.44 448.50 Td (t r) Tj ET Q q 0 0 0 rg BT 467.33 448.50 Td (a) Tj ET Q q 0 0 0 rg BT 472.03 448.50 Td (t) Tj ET Q q 0 0 0 rg BT 475.27 448.50 Td (e of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.10 448.50 Td (8.01%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.97 448.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 436.50 Td (per annum \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 117.31 436.50 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 196.77 436.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 206.27 436.50 Td (9.59%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 231.15 436.50 Td ( per annum\). ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 418.50 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 67.50 418.50 Td (The Compan) Tj ET Q q 0 0 0 rg BT 118.57 418.50 Td (y in) Tj ET Q q 0 0 0 rg BT 132.74 418.50 Td (v) Tj ET Q q 0 0 0 rg BT 137.16 418.50 Td (es) Tj ET Q q 0 0 0 rg BT 145.93 418.50 Td (ts fr) Tj ET Q q 0 0 0 rg BT 161.83 418.50 Td (om time t) Tj ET Q q 0 0 0 rg BT 201.47 418.50 Td (o time in publicly tr) Tj ET Q q 0 0 0 rg BT 279.98 418.50 Td (aded r) Tj ET Q q 0 0 0 rg BT 305.87 418.50 Td (eal es) Tj ET Q q 0 0 0 rg BT 328.96 418.50 Td (t) Tj ET Q q 0 0 0 rg BT 332.19 418.50 Td (a) Tj ET Q q 0 0 0 rg BT 336.89 418.50 Td (t) Tj ET Q q 0 0 0 rg BT 340.13 418.50 Td (e and r) Tj ET Q q 0 0 0 rg BT 368.28 418.50 Td (ela) Tj ET Q q 0 0 0 rg BT 380.25 418.50 Td (t) Tj ET Q q 0 0 0 rg BT 383.49 418.50 Td (ed securities. These securities ar) Tj ET Q q 0 0 0 rg BT 514.79 418.50 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 406.50 Td (r) Tj ET Q q 0 0 0 rg BT 70.85 406.50 Td (ec) Tj ET Q q 0 0 0 rg BT 79.98 406.50 Td (or) Tj ET Q q 0 0 0 rg BT 88.60 406.50 Td (ded a) Tj ET Q q 0 0 0 rg BT 111.04 406.50 Td (t mark) Tj ET Q q 0 0 0 rg BT 137.14 406.50 Td (e) Tj ET Q q 0 0 0 rg BT 142.06 406.50 Td (t v) Tj ET Q q 0 0 0 rg BT 152.04 406.50 Td (alue. R) Tj ET Q q 0 0 0 rg BT 179.39 406.50 Td (ealiz) Tj ET Q q 0 0 0 rg BT 197.48 406.50 Td (ed and unr) Tj ET Q q 0 0 0 rg BT 241.39 406.50 Td (ealiz) Tj ET Q q 0 0 0 rg BT 259.47 406.50 Td (ed g) Tj ET Q q 0 0 0 rg BT 276.48 406.50 Td (ains and losses on FVTPL securities ar) Tj ET Q q 0 0 0 rg BT 427.73 406.50 Td (e r) Tj ET Q q 0 0 0 rg BT 438.33 406.50 Td (ec) Tj ET Q q 0 0 0 rg BT 447.45 406.50 Td (or) Tj ET Q q 0 0 0 rg BT 456.07 406.50 Td (ded in other g) Tj ET Q q 0 0 0 rg BT 512.74 406.50 Td (ains ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 394.50 Td (\(losses\) and \(e) Tj ET Q q 0 0 0 rg BT 125.52 394.50 Td (xpenses\). ) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 365.70 Td (7) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 61.10 365.70 Td (. AMOUNT) Tj ET Q q 0 0 0 rg BT 123.41 365.70 Td (S RE) Tj ET Q q 0 0 0 rg BT 147.70 365.70 Td (CEIV) Tj ET Q q 0 0 0 rg BT 173.21 365.70 Td (ABLE) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 349.20000000000005 m 392.5 349.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 334.20000000000005 m 392.5 334.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 349.20000000000005 m 417.5 349.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 392.5 334.20000000000005 m 417.5 334.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 349.20000000000005 m 472.5 349.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 334.20000000000005 m 472.5 334.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 349.20000000000005 m 497.5 349.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 472.5 334.20000000000005 m 497.5 334.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 349.20000000000005 m 552.5 349.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 497.5 334.20000000000005 m 552.5 334.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 284.20000000000005 m 392.5 284.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 269.20000000000005 m 392.5 269.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 392.5 284.20000000000005 m 417.5 284.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 269.20000000000005 m 417.5 269.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417.5 284.20000000000005 m 472.5 284.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 269.20000000000005 m 472.5 269.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 472.5 284.20000000000005 m 497.5 284.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 269.20000000000005 m 497.5 269.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 497.5 284.20000000000005 m 552.5 284.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 269.20000000000005 m 552.5 269.20000000000005 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 338.70 Td (As at \(thousands of Canadian dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.65 338.70 Td (March 31, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 485.40 338.70 Td (December 31, 2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 324.95 Td (T) Tj ET Q q 0 0 0 rg BT 60.83 324.95 Td (r) Tj ET Q q 0 0 0 rg BT 63.78 324.95 Td (ade r) Tj ET Q q 0 0 0 rg BT 82.35 324.95 Td (eceiv) Tj ET Q q 0 0 0 rg BT 101.11 324.95 Td (ables \(ne) Tj ET Q q 0 0 0 rg BT 134.14 324.95 Td (t of allo) Tj ET Q q 0 0 0 rg BT 161.87 324.95 Td (w) Tj ET Q q 0 0 0 rg BT 168.20 324.95 Td (ances f) Tj ET Q q 0 0 0 rg BT 193.63 324.95 Td (or doub) Tj ET Q q 0 0 0 rg BT 222.45 324.95 Td (tful acc) Tj ET Q q 0 0 0 rg BT 248.88 324.95 Td (oun) Tj ET Q q 0 0 0 rg BT 263.00 324.95 Td (ts of $3.1 million) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 315.95 Td (\(December 31, 2014 $3.1 million\)\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 420.00 324.95 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 444.00 324.95 Td (20,142) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 500.00 324.95 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 524.15 324.95 Td (15,106) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 302.95 Td (Construction and development related chargebacks and receivables) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.45 302.95 Td (490) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 302.95 Td (374) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 288.95 Td (Corporate and other amounts receivable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.45 288.95 Td (344) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.75 288.95 Td (1,100) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 274.95 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 420.00 273.95 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 444.00 273.95 Td (20,976) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 500.00 273.95 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 524.15 273.95 Td (16,580) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 251.70 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 251.70 Td (y de) Tj ET Q q 0 0 0 rg BT 122.03 251.70 Td (t) Tj ET Q q 0 0 0 rg BT 125.27 251.70 Td (ermines its allo) Tj ET Q q 0 0 0 rg BT 186.85 251.70 Td (w) Tj ET Q q 0 0 0 rg BT 193.89 251.70 Td (ance f) Tj ET Q q 0 0 0 rg BT 218.24 251.70 Td (or doub) Tj ET Q q 0 0 0 rg BT 250.25 251.70 Td (tful acc) Tj ET Q q 0 0 0 rg BT 279.63 251.70 Td (oun) Tj ET Q q 0 0 0 rg BT 295.31 251.70 Td (ts on a t) Tj ET Q q 0 0 0 rg BT 327.92 251.70 Td (enan) Tj ET Q q 0 0 0 rg BT 348.10 251.70 Td (t) Tj ET Q q 0 0 0 rg BT 351.14 251.70 Td (-b) Tj ET Q q 0 0 0 rg BT 359.41 251.70 Td (y) Tj ET Q q 0 0 0 rg BT 363.71 251.70 Td (-t) Tj ET Q q 0 0 0 rg BT 370.02 251.70 Td (enan) Tj ET Q q 0 0 0 rg BT 390.20 251.70 Td (t basis c) Tj ET Q q 0 0 0 rg BT 422.37 251.70 Td (onsidering lease t) Tj ET Q q 0 0 0 rg BT 493.79 251.70 Td (erms, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 239.70 Td (indus) Tj ET Q q 0 0 0 rg BT 75.86 239.70 Td (tr) Tj ET Q q 0 0 0 rg BT 82.74 239.70 Td (y c) Tj ET Q q 0 0 0 rg BT 93.67 239.70 Td (onditions, and the s) Tj ET Q q 0 0 0 rg BT 173.79 239.70 Td (t) Tj ET Q q 0 0 0 rg BT 177.01 239.70 Td (a) Tj ET Q q 0 0 0 rg BT 181.71 239.70 Td (tus of the t) Tj ET Q q 0 0 0 rg BT 226.15 239.70 Td (enan) Tj ET Q q 0 0 0 rg BT 246.33 239.70 Td (t) Tj ET Q q 0 0 0 rg BT 250.03 239.70 Td () Tj ET Q q 0 0 0 rg BT 251.92 239.70 Td (s acc) Tj ET Q q 0 0 0 rg BT 271.25 239.70 Td (oun) Tj ET Q q 0 0 0 rg BT 286.94 239.70 Td (t, among other f) Tj ET Q q 0 0 0 rg BT 352.77 239.70 Td (act) Tj ET Q q 0 0 0 rg BT 365.04 239.70 Td (or) Tj ET Q q 0 0 0 rg BT 373.63 239.70 Td (s.) Tj ET Q endstream endobj 139 0 obj <> endobj 140 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (68) Tj ET Q BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 691.50 Td (8) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 61.10 691.50 Td (. O) Tj ET Q q 0 0 0 rg BT 77.16 691.50 Td (THER ASSET) Tj ET Q q 0 0 0 rg BT 146.21 691.50 Td (S) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 675 m 364.5 675 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 660 m 364.5 660 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 675 m 404.5 675 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364.5 660 m 404.5 660 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 675 m 424.5 675 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404.5 660 m 424.5 660 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 675 m 479.5 675 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 424.5 660 m 479.5 660 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 675 m 500.5 675 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479.5 660 m 500.5 660 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 675 m 555.5 675 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 660 m 555.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404.5 562 m 424.5 562 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 424.5 562 m 479.5 562 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479.5 562 m 500.5 562 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 562 m 555.5 562 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 562 m 364.5 562 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 549 m 364.5 549 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364.5 562 m 404.5 562 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364.5 549 m 404.5 549 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404.5 562 m 424.5 562 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404.5 549 m 424.5 549 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 424.5 562 m 479.5 562 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 424.5 549 m 479.5 549 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479.5 562 m 500.5 562 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479.5 549 m 500.5 549 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 562 m 555.5 562 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 549 m 555.5 549 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 471 m 364.5 471 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364.5 471 m 404.5 471 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404.5 471 m 424.5 471 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 424.5 471 m 479.5 471 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479.5 471 m 500.5 471 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 471 m 555.5 471 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 471 m 364.5 471 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 458 m 364.5 458 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364.5 471 m 404.5 471 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364.5 458 m 404.5 458 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404.5 471 m 424.5 471 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404.5 458 m 424.5 458 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 424.5 471 m 479.5 471 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 424.5 458 m 479.5 458 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479.5 471 m 500.5 471 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479.5 458 m 500.5 458 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 471 m 555.5 471 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 458 m 555.5 458 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 445 m 364.5 445 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 445 m 404.5 445 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 445 m 424.5 445 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 445 m 479.5 445 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 445 m 500.5 445 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 445 m 555.5 445 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 664.50 Td (As at \(thousands of Canadian dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.25 664.50 Td (Notes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 424.65 664.50 Td (March 31, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 488.40 664.50 Td (December 31, 2014) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 650.75 Td (Non-current) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 637.75 Td (Fixtures, equipment and computer hardware and software) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 628.75 Td (\(net of accumulated amortization of $5.9 million\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 427.00 637.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.55 637.75 Td (9,807) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 637.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.75 637.75 Td (9,721) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 614.75 Td (Deferred financing costs on credit facilities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 605.75 Td (\(net of accumulated amortization of $2.9 million\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.55 614.75 Td (1,441) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.75 614.75 Td (1,591) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 591.75 Td (Environmental indemnity and insurance proceeds receivable) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 379.40 591.75 Td (13) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.55 591.75 Td (5,399) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.75 591.75 Td (5,418) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 578.75 Td (Deposits and costs on investment properties under option) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.55 578.75 Td (2,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.75 578.75 Td (2,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 565.75 Td (Held-to-maturity investment in bond) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 462.45 565.75 Td (685) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.55 565.75 Td (685) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 552.75 Td (Total non-current) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 427.00 552.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 451.00 552.75 Td (19,332) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 552.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.15 552.75 Td (19,415) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 539.75 Td (Current) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 526.75 Td (Deposits and costs on investment properties under option) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 427.00 526.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.55 526.75 Td (1,870) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 526.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.75 526.75 Td (4,144) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 513.75 Td (Prepaid expenses) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 451.00 513.75 Td (16,244) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.75 513.75 Td (7,388) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 500.75 Td (Other deposits) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.55 500.75 Td (1,787) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.55 500.75 Td (792) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 487.75 Td (Restricted cash) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 462.45 487.75 Td (321) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.15 487.75 Td (13,733) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 474.75 Td (Derivatives at fair value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 379.40 474.75 Td (23) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.00 474.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.55 474.75 Td (281) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 461.75 Td (Total current) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 427.00 461.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 451.00 461.75 Td (20,222) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 461.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.15 461.75 Td (26,338) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 448.75 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 427.00 448.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 451.00 448.75 Td (39,554) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 448.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.15 448.75 Td (45,753) Tj ET Q BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 416.70 Td (9) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 61.10 416.70 Td (. 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The ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 374.70 Td (Compan) Tj ET Q q 0 0 0 rg BT 87.71 374.70 Td (y) Tj ET Q q 0 0 0 rg BT 92.54 374.70 Td () Tj ET Q q 0 0 0 rg BT 94.42 374.70 Td (s c) Tj ET Q q 0 0 0 rg BT 104.74 374.70 Td (apit) Tj ET Q q 0 0 0 rg BT 120.30 374.70 Td (al s) Tj ET Q q 0 0 0 rg BT 133.45 374.70 Td (tructur) Tj ET Q q 0 0 0 rg BT 161.72 374.70 Td (e curr) Tj ET Q q 0 0 0 rg BT 185.28 374.70 Td (en) Tj ET Q q 0 0 0 rg BT 195.42 374.70 Td (tly includes c) Tj ET Q q 0 0 0 rg BT 247.73 374.70 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 299.07 374.70 Td (es, senior unsecur) Tj ET Q q 0 0 0 rg BT 372.40 374.70 Td (ed deben) Tj ET Q q 0 0 0 rg BT 410.51 374.70 Td (tur) Tj ET Q q 0 0 0 rg BT 422.47 374.70 Td (es, mortg) Tj ET Q q 0 0 0 rg BT 460.73 374.70 Td (ag) Tj ET Q q 0 0 0 rg BT 470.15 374.70 Td (es, c) Tj ET Q q 0 0 0 rg BT 487.94 374.70 Td (on) Tj ET Q q 0 0 0 rg BT 498.30 374.70 Td (v) Tj ET Q q 0 0 0 rg BT 502.72 374.70 Td (ertible ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 362.70 Td (deben) Tj ET Q q 0 0 0 rg BT 79.62 362.70 Td (tur) Tj ET Q q 0 0 0 rg BT 91.58 362.70 Td (es and secur) Tj ET Q q 0 0 0 rg BT 142.01 362.70 Td (ed and unsecur) Tj ET Q q 0 0 0 rg BT 204.29 362.70 Td (ed r) Tj ET Q q 0 0 0 rg BT 220.13 362.70 Td (e) Tj ET Q q 0 0 0 rg BT 225.06 362.70 Td (v) Tj ET Q q 0 0 0 rg BT 229.48 362.70 Td (olving cr) Tj ET Q q 0 0 0 rg BT 263.67 362.70 Td (edit f) Tj ET Q q 0 0 0 rg BT 284.66 362.70 Td (acilities, which t) Tj ET Q q 0 0 0 rg BT 349.54 362.70 Td (og) Tj ET Q q 0 0 0 rg BT 359.44 362.70 Td (e) Tj ET Q q 0 0 0 rg BT 364.36 362.70 Td (ther pr) Tj ET Q q 0 0 0 rg BT 392.27 362.70 Td (o) Tj ET Q q 0 0 0 rg BT 397.50 362.70 Td (vide the Compan) Tj ET Q q 0 0 0 rg BT 466.34 362.70 Td (y with the financing ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 350.70 Td (fle) Tj ET Q q 0 0 0 rg BT 64.17 350.70 Td (xibility t) Tj ET Q q 0 0 0 rg BT 96.32 350.70 Td (o mee) Tj ET Q q 0 0 0 rg BT 121.74 350.70 Td (t its c) Tj ET Q q 0 0 0 rg BT 143.32 350.70 Td (apit) Tj ET Q q 0 0 0 rg BT 158.88 350.70 Td (al needs. 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The actual le) Tj ET Q q 0 0 0 rg BT 351.31 338.70 Td (v) Tj ET Q q 0 0 0 rg BT 355.73 338.70 Td (el and type of futur) Tj ET Q q 0 0 0 rg BT 434.04 338.70 Td (e financings t) Tj ET Q q 0 0 0 rg BT 487.83 338.70 Td (o fund these ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 326.70 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 326.70 Td (apit) Tj ET Q q 0 0 0 rg BT 73.71 326.70 Td (al r) Tj ET Q q 0 0 0 rg BT 86.41 326.70 Td (equir) Tj ET Q q 0 0 0 rg BT 107.54 326.70 Td (emen) Tj ET Q q 0 0 0 rg BT 130.65 326.70 Td (ts will be de) Tj ET Q q 0 0 0 rg BT 179.13 326.70 Td (t) Tj ET Q q 0 0 0 rg BT 182.37 326.70 Td (ermined based on pr) Tj ET Q q 0 0 0 rg BT 266.70 326.70 Td (e) Tj ET Q q 0 0 0 rg BT 271.63 326.70 Td (v) Tj ET Q q 0 0 0 rg BT 276.00 326.70 Td (ailing in) Tj ET Q q 0 0 0 rg BT 307.35 326.70 Td (t) Tj ET Q q 0 0 0 rg BT 310.59 326.70 Td (er) Tj ET Q q 0 0 0 rg BT 318.92 326.70 Td (es) Tj ET Q q 0 0 0 rg BT 327.70 326.70 Td (t r) Tj ET Q q 0 0 0 rg BT 336.59 326.70 Td (a) Tj ET Q q 0 0 0 rg BT 341.29 326.70 Td (t) Tj ET Q q 0 0 0 rg BT 344.53 326.70 Td (es, v) Tj ET Q q 0 0 0 rg BT 362.54 326.70 Td (arious c) Tj ET Q q 0 0 0 rg BT 393.96 326.70 Td (os) Tj ET Q q 0 0 0 rg BT 403.03 326.70 Td (ts of deb) Tj ET Q q 0 0 0 rg BT 438.58 326.70 Td (t and/) Tj ET Q q 0 0 0 rg BT 463.17 326.70 Td (or equity c) Tj ET Q q 0 0 0 rg BT 506.26 326.70 Td (apit) Tj ET Q q 0 0 0 rg BT 521.82 326.70 Td (al, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 314.70 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 314.70 Td (apit) Tj ET Q q 0 0 0 rg BT 73.71 314.70 Td (al mark) Tj ET Q q 0 0 0 rg BT 103.55 314.70 Td (e) Tj ET Q q 0 0 0 rg BT 108.47 314.70 Td (t c) Tj ET Q q 0 0 0 rg BT 118.22 314.70 Td (onditions and manag) Tj ET Q q 0 0 0 rg BT 203.65 314.70 Td (emen) Tj ET Q q 0 0 0 rg BT 226.75 314.70 Td (t) Tj ET Q q 0 0 0 rg BT 230.45 314.70 Td () Tj ET Q q 0 0 0 rg BT 232.33 314.70 Td (s g) Tj ET Q q 0 0 0 rg BT 243.13 314.70 Td (ener) Tj ET Q q 0 0 0 rg BT 261.61 314.70 Td (al vie) Tj ET Q q 0 0 0 rg BT 282.70 314.70 Td (w of the r) Tj ET Q q 0 0 0 rg BT 321.89 314.70 Td (equir) Tj ET Q q 0 0 0 rg BT 343.02 314.70 Td (ed le) Tj ET Q q 0 0 0 rg BT 362.73 314.70 Td (v) Tj ET Q q 0 0 0 rg BT 367.15 314.70 Td (er) Tj ET Q q 0 0 0 rg BT 375.41 314.70 Td (ag) Tj ET Q q 0 0 0 rg BT 384.82 314.70 Td (e in the business.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 296.70 Td (The c) Tj ET Q q 0 0 0 rg BT 75.51 296.70 Td (omponen) Tj ET Q q 0 0 0 rg BT 114.69 296.70 Td (ts of the Compan) Tj ET Q q 0 0 0 rg BT 184.34 296.70 Td (y) Tj ET Q q 0 0 0 rg BT 189.17 296.70 Td () Tj ET Q q 0 0 0 rg BT 191.06 296.70 Td (s c) Tj ET Q q 0 0 0 rg BT 201.37 296.70 Td (apit) Tj ET Q q 0 0 0 rg BT 216.94 296.70 Td (al ar) Tj ET Q q 0 0 0 rg BT 234.43 296.70 Td (e se) Tj ET Q q 0 0 0 rg BT 250.50 296.70 Td (t out in the t) Tj ET Q q 0 0 0 rg BT 301.12 296.70 Td (able belo) Tj ET Q q 0 0 0 rg BT 338.46 296.70 Td (w:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 286.20000000000005 m 406.5 286.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 271.20000000000005 m 406.5 271.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 286.20000000000005 m 426.5 286.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 406.5 271.20000000000005 m 426.5 271.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 286.20000000000005 m 481.5 286.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 271.20000000000005 m 481.5 271.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 286.20000000000005 m 501.5 286.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 481.5 271.20000000000005 m 501.5 271.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 286.20000000000005 m 556.5 286.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501.5 271.20000000000005 m 556.5 271.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 179.20000000000005 m 406.5 179.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 164.20000000000005 m 406.5 164.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 406.5 179.20000000000005 m 426.5 179.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 164.20000000000005 m 426.5 164.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 179.20000000000005 m 481.5 179.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 164.20000000000005 m 481.5 164.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 481.5 179.20000000000005 m 501.5 179.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 164.20000000000005 m 501.5 164.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501.5 179.20000000000005 m 556.5 179.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 164.20000000000005 m 556.5 164.20000000000005 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 275.70 Td (As at \(thousands of Canadian dollars, except per share amounts\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 426.65 275.70 Td (March 31, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 489.40 275.70 Td (December 31, 2014) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 261.95 Td (Liabilities \(principal amounts outstanding\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 248.95 Td (Mortgages) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 429.00 248.95 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 441.55 248.95 Td (1,087,445) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 504.00 248.95 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.80 248.95 Td (1,166,251) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 235.95 Td (Mortgage on equity accounted joint venture \(at the Companys interest\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 453.00 235.95 Td (14,189) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.15 235.95 Td (10,425) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 222.95 Td (Senior unsecured debentures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 441.55 222.95 Td (2,250,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.80 222.95 Td (2,160,000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 209.95 Td (Convertible debentures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 448.45 209.95 Td (386,865) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 523.60 209.95 Td (388,174) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 57.00 196.95 Td (Equity Capitalization) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 183.95 Td (Common shares \(based on closing per share price of $19.73; December 31, 2014 $18.66\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 441.55 183.95 Td (4,379,047) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.80 183.95 Td (4,037,543) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 168.95 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 429.00 168.95 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 441.55 168.95 Td (8,117,546) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 504.00 168.95 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.80 168.95 Td (7,762,393) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 141 0 obj <> endobj 142 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 736.70 Td (NO) Tj ET Q q 0 0 0 rg BT 66.82 736.70 Td (TE) Tj ET Q q 0 0 0 rg BT 75.58 736.70 Td (S T) Tj ET Q q 0 0 0 rg BT 86.08 736.70 Td (O THE INTERIM C) Tj ET Q q 0 0 0 rg BT 150.00 736.70 Td (ONSOLID) Tj ET Q q 0 0 0 rg BT 184.02 736.70 Td (A) Tj ET Q q 0 0 0 rg BT 188.77 736.70 Td (TED FINANCIAL S) Tj ET Q q 0 0 0 rg BT 251.79 736.70 Td (T) Tj ET Q q 0 0 0 rg BT 255.54 736.70 Td (A) Tj ET Q q 0 0 0 rg BT 260.29 736.70 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 291.73 736.70 Td (S c) Tj ET Q q 0 0 0 rg BT 308.26 736.70 Td (on) Tj ET Q q 0 0 0 rg BT 317.84 736.70 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (69) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 694.50 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 694.50 Td (y monit) Tj ET Q q 0 0 0 rg BT 135.92 694.50 Td (or) Tj ET Q q 0 0 0 rg BT 144.51 694.50 Td (s a number of financial r) Tj ET Q q 0 0 0 rg BT 242.58 694.50 Td (a) Tj ET Q q 0 0 0 rg BT 247.28 694.50 Td (tios in c) Tj ET Q q 0 0 0 rg BT 278.33 694.50 Td (onjunction with its cr) Tj ET Q q 0 0 0 rg BT 364.12 694.50 Td (edit agr) Tj ET Q q 0 0 0 rg BT 395.11 694.50 Td (eemen) Tj ET Q q 0 0 0 rg BT 423.18 694.50 Td (ts and financial planning. In ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 682.50 Td (acc) Tj ET Q q 0 0 0 rg BT 67.16 682.50 Td (or) Tj ET Q q 0 0 0 rg BT 75.79 682.50 Td (dance with the t) Tj ET Q q 0 0 0 rg BT 141.94 682.50 Td (erms of the Compan) Tj ET Q q 0 0 0 rg BT 224.69 682.50 Td (y's cr) Tj ET Q q 0 0 0 rg BT 245.18 682.50 Td (edit agr) Tj ET Q q 0 0 0 rg BT 276.17 682.50 Td (eemen) Tj ET Q q 0 0 0 rg BT 304.24 682.50 Td (ts, all r) Tj ET Q q 0 0 0 rg BT 331.18 682.50 Td (a) Tj ET Q q 0 0 0 rg BT 335.88 682.50 Td (tios ar) Tj ET Q q 0 0 0 rg BT 361.11 682.50 Td (e c) Tj ET Q q 0 0 0 rg BT 372.50 682.50 Td (alcula) Tj ET Q q 0 0 0 rg BT 396.06 682.50 Td (t) Tj ET Q q 0 0 0 rg BT 399.30 682.50 Td (ed with join) Tj ET Q q 0 0 0 rg BT 447.22 682.50 Td (t v) Tj ET Q q 0 0 0 rg BT 457.25 682.50 Td (en) Tj ET Q q 0 0 0 rg BT 467.38 682.50 Td (tur) Tj ET Q q 0 0 0 rg BT 479.34 682.50 Td (es ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 670.50 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 670.50 Td (oportiona) Tj ET Q q 0 0 0 rg BT 102.74 670.50 Td (t) Tj ET Q q 0 0 0 rg BT 105.98 670.50 Td (ely c) Tj ET Q q 0 0 0 rg BT 124.18 670.50 Td (onsolida) Tj ET Q q 0 0 0 rg BT 158.43 670.50 Td (t) Tj ET Q q 0 0 0 rg BT 161.68 670.50 Td (ed, as se) Tj ET Q q 0 0 0 rg BT 196.46 670.50 Td (t out in the t) Tj ET Q q 0 0 0 rg BT 247.08 670.50 Td (able belo) Tj ET Q q 0 0 0 rg BT 284.42 670.50 Td (w:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 660 m 357.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 639 m 357.5 639 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 660 m 405.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357.5 639 m 405.5 639 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 660 m 425.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 405.5 639 m 425.5 639 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 660 m 480.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 425.5 639 m 480.5 639 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 660 m 501.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 639 m 501.5 639 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 660 m 556.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501.5 639 m 556.5 639 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 518 m 357.5 518 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 518 m 405.5 518 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 518 m 425.5 518 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 518 m 480.5 518 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 518 m 501.5 518 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 518 m 556.5 518 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 365.10 651.50 Td (Measure/) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 365.55 643.50 Td (Covenant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.65 643.50 Td (March 31, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 489.40 643.50 Td (December 31, 2014) Tj ET Q BT /F6 8.00 Tf ET q 0 0 0 rg BT 57.00 629.50 Td (As at) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 615.75 Td (Net debt to total assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.30 615.75 Td (41.8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 473.40 615.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.55 615.75 Td (42.2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.55 615.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 601.75 Td (Unencumber) Tj ET Q q 0 0 0 rg BT 104.66 601.75 Td (ed ag) Tj ET Q q 0 0 0 rg BT 124.53 601.75 Td (gr) Tj ET Q q 0 0 0 rg BT 131.79 601.75 Td (eg) Tj ET Q q 0 0 0 rg BT 140.33 601.75 Td (a) Tj ET Q q 0 0 0 rg BT 144.56 601.75 Td (t) Tj ET Q q 0 0 0 rg BT 147.48 601.75 Td (e asse) Tj ET Q q 0 0 0 rg BT 169.77 601.75 Td (ts t) Tj ET Q q 0 0 0 rg BT 181.27 601.75 Td (o unsecur) Tj ET Q q 0 0 0 rg BT 217.06 601.75 Td (ed deb) Tj ET Q q 0 0 0 rg BT 242.19 601.75 Td (t, using 10 quart) Tj ET Q q 0 0 0 rg BT 301.78 601.75 Td (er a) Tj ET Q q 0 0 0 rg BT 315.60 601.75 Td (v) Tj ET Q q 0 0 0 rg BT 319.57 601.75 Td (er) Tj ET Q q 0 0 0 rg BT 327.00 601.75 Td (ag) Tj ET Q q 0 0 0 rg BT 335.48 601.75 Td (e) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 592.75 Td (c) Tj ET Q q 0 0 0 rg BT 69.73 592.75 Td (apit) Tj ET Q q 0 0 0 rg BT 83.74 592.75 Td (aliz) Tj ET Q q 0 0 0 rg BT 95.59 592.75 Td (a) Tj ET Q q 0 0 0 rg BT 99.82 592.75 Td (tion r) Tj ET Q q 0 0 0 rg BT 119.36 592.75 Td (a) Tj ET Q q 0 0 0 rg BT 123.59 592.75 Td (t) Tj ET Q q 0 0 0 rg BT 126.50 592.75 Td (e ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 133.02 596.56 Td (\(1\)) Tj ET Q /GS0 gs q 15.88 0 0 9.00 373.05 599.50 cm /I6 Do Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 461.85 601.75 Td (2.2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.15 601.75 Td (2.2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 578.75 Td (Shar) Tj ET Q q 0 0 0 rg BT 73.19 578.75 Td (eholder) Tj ET Q q 0 0 0 rg BT 101.40 578.75 Td (s equity) Tj ET Q q 0 0 0 rg BT 131.65 578.75 Td (, using f) Tj ET Q q 0 0 0 rg BT 159.80 578.75 Td (our quart) Tj ET Q q 0 0 0 rg BT 194.27 578.75 Td (er a) Tj ET Q q 0 0 0 rg BT 208.08 578.75 Td (v) Tj ET Q q 0 0 0 rg BT 212.06 578.75 Td (er) Tj ET Q q 0 0 0 rg BT 219.49 578.75 Td (ag) Tj ET Q q 0 0 0 rg BT 227.96 578.75 Td (e \(billions of Canadian dollar) Tj ET Q q 0 0 0 rg BT 331.67 578.75 Td (s\) ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 339.96 583.04 Td (\(1\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 367.30 578.75 Td ( >$1.4B) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 428.00 578.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 461.85 578.75 Td (3.5) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 504.00 578.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.15 578.75 Td (3.4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 564.75 Td (Secur) Tj ET Q q 0 0 0 rg BT 77.17 564.75 Td (ed indeb) Tj ET Q q 0 0 0 rg BT 109.10 564.75 Td (t) Tj ET Q q 0 0 0 rg BT 112.02 564.75 Td (edness t) Tj ET Q q 0 0 0 rg BT 142.43 564.75 Td (o t) Tj ET Q q 0 0 0 rg BT 152.14 564.75 Td (ot) Tj ET Q q 0 0 0 rg BT 159.79 564.75 Td (al asse) Tj ET Q q 0 0 0 rg BT 183.98 564.75 Td (ts ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 192.55 569.04 Td (\(1\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 370.95 564.75 Td (<40%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.30 564.75 Td (13.8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 473.40 564.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.55 564.75 Td (15.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.55 564.75 Td (%) Tj ET Q BT /F6 8.00 Tf ET q 0 0 0 rg BT 57.00 550.50 Td (For the rolling four quarters ended) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 536.75 Td (In) Tj ET Q q 0 0 0 rg BT 63.91 536.75 Td (t) Tj ET Q q 0 0 0 rg BT 66.83 536.75 Td (er) Tj ET Q q 0 0 0 rg BT 74.33 536.75 Td (es) Tj ET Q q 0 0 0 rg BT 82.22 536.75 Td (t c) Tj ET Q q 0 0 0 rg BT 91.00 536.75 Td (o) Tj ET Q q 0 0 0 rg BT 95.71 536.75 Td (v) Tj ET Q q 0 0 0 rg BT 99.69 536.75 Td (er) Tj ET Q q 0 0 0 rg BT 107.12 536.75 Td (ag) Tj ET Q q 0 0 0 rg BT 115.59 536.75 Td (e \(EBITD) Tj ET Q q 0 0 0 rg BT 146.18 536.75 Td (A t) Tj ET Q q 0 0 0 rg BT 156.35 536.75 Td (o in) Tj ET Q q 0 0 0 rg BT 169.84 536.75 Td (t) Tj ET Q q 0 0 0 rg BT 172.76 536.75 Td (er) Tj ET Q q 0 0 0 rg BT 180.26 536.75 Td (es) Tj ET Q q 0 0 0 rg BT 188.15 536.75 Td (t e) Tj ET Q q 0 0 0 rg BT 197.55 536.75 Td (xpense\) ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 228.14 541.04 Td (\(1\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 369.75 536.75 Td ( >1.65) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 465.45 536.75 Td (2.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.60 536.75 Td (2.3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 522.75 Td (Fix) Tj ET Q q 0 0 0 rg BT 66.86 522.75 Td (ed char) Tj ET Q q 0 0 0 rg BT 93.96 522.75 Td (g) Tj ET Q q 0 0 0 rg BT 98.12 522.75 Td (e c) Tj ET Q q 0 0 0 rg BT 108.37 522.75 Td (o) Tj ET Q q 0 0 0 rg BT 113.07 522.75 Td (v) Tj ET Q q 0 0 0 rg BT 117.05 522.75 Td (er) Tj ET Q q 0 0 0 rg BT 124.48 522.75 Td (ag) Tj ET Q q 0 0 0 rg BT 132.96 522.75 Td (e \(EBITD) Tj ET Q q 0 0 0 rg BT 163.55 522.75 Td (A t) Tj ET Q q 0 0 0 rg BT 173.71 522.75 Td (o deb) Tj ET Q q 0 0 0 rg BT 194.39 522.75 Td (t ser) Tj ET Q q 0 0 0 rg BT 210.66 522.75 Td (vice\) ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 229.84 527.04 Td (\(1\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 370.75 522.75 Td (>1.50) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 465.45 522.75 Td (1.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.60 522.75 Td (1.9) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 510.44 Td (\(1\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 507.10 Td (Calcula) Tj ET Q q 0 0 0 rg BT 83.22 507.10 Td (tions r) Tj ET Q q 0 0 0 rg BT 101.21 507.10 Td (equir) Tj ET Q q 0 0 0 rg BT 116.01 507.10 Td (ed under the Compan) Tj ET Q q 0 0 0 rg BT 177.97 507.10 Td (y's cr) Tj ET Q q 0 0 0 rg BT 192.31 507.10 Td (edit f) Tj ET Q q 0 0 0 rg BT 207.01 507.10 Td (acility agr) Tj ET Q q 0 0 0 rg BT 234.23 507.10 Td (eemen) Tj ET Q q 0 0 0 rg BT 253.88 507.10 Td (ts or inden) Tj ET Q q 0 0 0 rg BT 284.32 507.10 Td (tur) Tj ET Q q 0 0 0 rg BT 292.69 507.10 Td (e g) Tj ET Q q 0 0 0 rg BT 301.00 507.10 Td (o) Tj ET Q q 0 0 0 rg BT 304.66 507.10 Td (v) Tj ET Q q 0 0 0 rg BT 307.76 507.10 Td (erning the senior unsecur) Tj ET Q q 0 0 0 rg BT 380.39 507.10 Td (ed deben) Tj ET Q q 0 0 0 rg BT 407.07 507.10 Td (tur) Tj ET Q q 0 0 0 rg BT 415.44 507.10 Td (es.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 489.10 Td (The abo) Tj ET Q q 0 0 0 rg BT 86.64 489.10 Td (v) Tj ET Q q 0 0 0 rg BT 91.06 489.10 Td (e r) Tj ET Q q 0 0 0 rg BT 101.57 489.10 Td (a) Tj ET Q q 0 0 0 rg BT 106.27 489.10 Td (tios include measur) Tj ET Q q 0 0 0 rg BT 185.45 489.10 Td (es not specific) Tj ET Q q 0 0 0 rg BT 242.89 489.10 Td (ally de) Tj ET Q q 0 0 0 rg BT 269.20 489.10 Td (fined in IFR) Tj ET Q q 0 0 0 rg BT 314.51 489.10 Td (S. Cert) Tj ET Q q 0 0 0 rg BT 340.91 489.10 Td (ain c) Tj ET Q q 0 0 0 rg BT 359.66 489.10 Td (alcula) Tj ET Q q 0 0 0 rg BT 383.22 489.10 Td (tions ar) Tj ET Q q 0 0 0 rg BT 413.71 489.10 Td (e r) Tj ET Q q 0 0 0 rg BT 424.30 489.10 Td (equir) Tj ET Q q 0 0 0 rg BT 445.43 489.10 Td (ed pur) Tj ET Q q 0 0 0 rg BT 471.74 489.10 Td (suan) Tj ET Q q 0 0 0 rg BT 490.86 489.10 Td (t t) Tj ET Q q 0 0 0 rg BT 499.72 489.10 Td (o deb) Tj ET Q q 0 0 0 rg BT 522.70 489.10 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 477.10 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 477.10 Td (o) Tj ET Q q 0 0 0 rg BT 63.38 477.10 Td (v) Tj ET Q q 0 0 0 rg BT 67.79 477.10 Td (enan) Tj ET Q q 0 0 0 rg BT 87.97 477.10 Td (ts and f) Tj ET Q q 0 0 0 rg BT 117.90 477.10 Td (or this r) Tj ET Q q 0 0 0 rg BT 149.34 477.10 Td (eason ar) Tj ET Q q 0 0 0 rg BT 183.95 477.10 Td (e meaningful measur) Tj ET Q q 0 0 0 rg BT 269.59 477.10 Td (es. Measur) Tj ET Q q 0 0 0 rg BT 314.09 477.10 Td (es used in these r) Tj ET Q q 0 0 0 rg BT 384.71 477.10 Td (a) Tj ET Q q 0 0 0 rg BT 389.41 477.10 Td (tios ar) Tj ET Q q 0 0 0 rg BT 414.64 477.10 Td (e de) Tj ET Q q 0 0 0 rg BT 432.02 477.10 Td (fined as f) Tj ET Q q 0 0 0 rg BT 468.92 477.10 Td (ollo) Tj ET Q q 0 0 0 rg BT 484.01 477.10 Td (w) Tj ET Q q 0 0 0 rg BT 491.08 477.10 Td (s:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 462.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 462.10 Td (Deb) Tj ET Q q 0 0 0 rg BT 88.34 462.10 Td (t ) Tj ET Q q 0 0 0 rg BT 93.58 462.10 Td (c) Tj ET Q q 0 0 0 rg BT 97.72 462.10 Td (onsis) Tj ET Q q 0 0 0 rg BT 118.26 462.10 Td (ts ) Tj ET Q q 0 0 0 rg BT 127.41 462.10 Td (of ) Tj ET Q q 0 0 0 rg BT 137.62 462.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 174.67 462.10 Td (amoun) Tj ET Q q 0 0 0 rg BT 203.13 462.10 Td (ts ) Tj ET Q q 0 0 0 rg BT 212.29 462.10 Td (outs) Tj ET Q q 0 0 0 rg BT 229.96 462.10 Td (t) Tj ET Q q 0 0 0 rg BT 233.19 462.10 Td (anding ) Tj ET Q q 0 0 0 rg BT 262.63 462.10 Td (on ) Tj ET Q q 0 0 0 rg BT 275.05 462.10 Td (mortg) Tj ET Q q 0 0 0 rg BT 299.67 462.10 Td (ag) Tj ET Q q 0 0 0 rg BT 309.09 462.10 Td (es ) Tj ET Q q 0 0 0 rg BT 319.86 462.10 Td (and ) Tj ET Q q 0 0 0 rg BT 337.05 462.10 Td (cr) Tj ET Q q 0 0 0 rg BT 344.64 462.10 Td (edit ) Tj ET Q q 0 0 0 rg BT 362.40 462.10 Td (f) Tj ET Q q 0 0 0 rg BT 365.26 462.10 Td (acilities ) Tj ET Q q 0 0 0 rg BT 397.58 462.10 Td (and ) Tj ET Q q 0 0 0 rg BT 414.77 462.10 Td (the ) Tj ET Q q 0 0 0 rg BT 430.24 462.10 Td (par ) Tj ET Q q 0 0 0 rg BT 445.66 462.10 Td (v) Tj ET Q q 0 0 0 rg BT 450.03 462.10 Td (alue ) Tj ET Q q 0 0 0 rg BT 469.24 462.10 Td (of ) Tj ET Q q 0 0 0 rg BT 479.46 462.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 506.54 462.10 Td (unsecur) Tj ET Q q 0 0 0 rg BT 538.77 462.10 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 450.10 Td (deben) Tj ET Q q 0 0 0 rg BT 97.62 450.10 Td (tur) Tj ET Q q 0 0 0 rg BT 109.58 450.10 Td (es. ) Tj ET Q q 0 0 0 rg BT 123.34 450.10 Td (Con) Tj ET Q q 0 0 0 rg BT 139.03 450.10 Td (v) Tj ET Q q 0 0 0 rg BT 143.45 450.10 Td (ertible ) Tj ET Q q 0 0 0 rg BT 172.43 450.10 Td (deben) Tj ET Q q 0 0 0 rg BT 198.05 450.10 Td (tur) Tj ET Q q 0 0 0 rg BT 210.01 450.10 Td (es ) Tj ET Q q 0 0 0 rg BT 221.25 450.10 Td (ar) Tj ET Q q 0 0 0 rg BT 229.39 450.10 Td (e ) Tj ET Q q 0 0 0 rg BT 236.72 450.10 Td (e) Tj ET Q q 0 0 0 rg BT 241.54 450.10 Td (x) Tj ET Q q 0 0 0 rg BT 245.65 450.10 Td (cluded ) Tj ET Q q 0 0 0 rg BT 275.26 450.10 Td (as ) Tj ET Q q 0 0 0 rg BT 286.31 450.10 Td (it ) Tj ET Q q 0 0 0 rg BT 294.31 450.10 Td (is ) Tj ET Q q 0 0 0 rg BT 302.86 450.10 Td (the ) Tj ET Q q 0 0 0 rg BT 318.79 450.10 Td (Compan) Tj ET Q q 0 0 0 rg BT 352.50 450.10 Td (y) Tj ET Q q 0 0 0 rg BT 357.33 450.10 Td () Tj ET Q q 0 0 0 rg BT 359.21 450.10 Td (s ) Tj ET Q q 0 0 0 rg BT 365.47 450.10 Td (in) Tj ET Q q 0 0 0 rg BT 372.93 450.10 Td (t) Tj ET Q q 0 0 0 rg BT 376.17 450.10 Td (en) Tj ET Q q 0 0 0 rg BT 386.31 450.10 Td (tion ) Tj ET Q q 0 0 0 rg BT 404.83 450.10 Td (t) Tj ET Q q 0 0 0 rg BT 408.08 450.10 Td (o ) Tj ET Q q 0 0 0 rg BT 415.70 450.10 Td (c) Tj ET Q q 0 0 0 rg BT 419.85 450.10 Td (on) Tj ET Q q 0 0 0 rg BT 430.28 450.10 Td (tinue ) Tj ET Q q 0 0 0 rg BT 453.76 450.10 Td (t) Tj ET Q q 0 0 0 rg BT 457.01 450.10 Td (o ) Tj ET Q q 0 0 0 rg BT 464.64 450.10 Td (sa) Tj ET Q q 0 0 0 rg BT 473.25 450.10 Td (tis) Tj ET Q q 0 0 0 rg BT 482.71 450.10 Td (f) Tj ET Q q 0 0 0 rg BT 485.81 450.10 Td (y ) Tj ET Q q 0 0 0 rg BT 492.69 450.10 Td (its ) Tj ET Q q 0 0 0 rg BT 504.59 450.10 Td (oblig) Tj ET Q q 0 0 0 rg BT 524.23 450.10 Td (a) Tj ET Q q 0 0 0 rg BT 528.93 450.10 Td (tions ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 438.10 Td (of ) Tj ET Q q 0 0 0 rg BT 82.07 438.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 118.97 438.10 Td (and ) Tj ET Q q 0 0 0 rg BT 136.02 438.10 Td (in) Tj ET Q q 0 0 0 rg BT 143.48 438.10 Td (t) Tj ET Q q 0 0 0 rg BT 146.72 438.10 Td (er) Tj ET Q q 0 0 0 rg BT 155.05 438.10 Td (es) Tj ET Q q 0 0 0 rg BT 163.82 438.10 Td (t ) Tj ET Q q 0 0 0 rg BT 168.92 438.10 Td (pa) Tj ET Q q 0 0 0 rg BT 178.78 438.10 Td (ymen) Tj ET Q q 0 0 0 rg BT 201.43 438.10 Td (ts ) Tj ET Q q 0 0 0 rg BT 210.44 438.10 Td (in ) Tj ET Q q 0 0 0 rg BT 219.74 438.10 Td (r) Tj ET Q q 0 0 0 rg BT 223.09 438.10 Td (espect ) Tj ET Q q 0 0 0 rg BT 251.53 438.10 Td (of ) Tj ET Q q 0 0 0 rg BT 261.61 438.10 Td (all ) Tj ET Q q 0 0 0 rg BT 272.74 438.10 Td (of ) Tj ET Q q 0 0 0 rg BT 282.81 438.10 Td (its ) Tj ET Q q 0 0 0 rg BT 294.11 438.10 Td (outs) Tj ET Q q 0 0 0 rg BT 311.79 438.10 Td (t) Tj ET Q q 0 0 0 rg BT 315.02 438.10 Td (anding ) Tj ET Q q 0 0 0 rg BT 344.32 438.10 Td (c) Tj ET Q q 0 0 0 rg BT 348.47 438.10 Td (on) Tj ET Q q 0 0 0 rg BT 358.83 438.10 Td (v) Tj ET Q q 0 0 0 rg BT 363.25 438.10 Td (ertible ) Tj ET Q q 0 0 0 rg BT 391.63 438.10 Td (deben) Tj ET Q q 0 0 0 rg BT 417.25 438.10 Td (tur) Tj ET Q q 0 0 0 rg BT 429.20 438.10 Td (es ) Tj ET Q q 0 0 0 rg BT 439.84 438.10 Td (b) Tj ET Q q 0 0 0 rg BT 445.04 438.10 Td (y ) Tj ET Q q 0 0 0 rg BT 451.32 438.10 Td (the ) Tj ET Q q 0 0 0 rg BT 466.65 438.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 503.01 438.10 Td (of ) Tj ET Q q 0 0 0 rg BT 513.09 438.10 Td (c) Tj ET Q q 0 0 0 rg BT 517.23 438.10 Td (ommon ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 426.10 Td (shar) Tj ET Q q 0 0 0 rg BT 89.31 426.10 Td (es.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 408.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 408.10 Td (Ne) Tj ET Q q 0 0 0 rg BT 83.38 408.10 Td (t ) Tj ET Q q 0 0 0 rg BT 88.99 408.10 Td (deb) Tj ET Q q 0 0 0 rg BT 104.43 408.10 Td (t ) Tj ET Q q 0 0 0 rg BT 110.04 408.10 Td (is ) Tj ET Q q 0 0 0 rg BT 118.50 408.10 Td (c) Tj ET Q q 0 0 0 rg BT 122.65 408.10 Td (alcula) Tj ET Q q 0 0 0 rg BT 146.21 408.10 Td (t) Tj ET Q q 0 0 0 rg BT 149.45 408.10 Td (ed ) Tj ET Q q 0 0 0 rg BT 161.94 408.10 Td (as ) Tj ET Q q 0 0 0 rg BT 172.90 408.10 Td (Deb) Tj ET Q q 0 0 0 rg BT 189.24 408.10 Td (t, ) Tj ET Q q 0 0 0 rg BT 197.35 408.10 Td (as ) Tj ET Q q 0 0 0 rg BT 208.31 408.10 Td (de) Tj ET Q q 0 0 0 rg BT 218.45 408.10 Td (fined ) Tj ET Q q 0 0 0 rg BT 241.54 408.10 Td (abo) Tj ET Q q 0 0 0 rg BT 256.81 408.10 Td (v) Tj ET Q q 0 0 0 rg BT 261.23 408.10 Td (e, ) Tj ET Q q 0 0 0 rg BT 270.96 408.10 Td (r) Tj ET Q q 0 0 0 rg BT 274.32 408.10 Td (educed ) Tj ET Q q 0 0 0 rg BT 306.52 408.10 Td (b) Tj ET Q q 0 0 0 rg BT 311.73 408.10 Td (y ) Tj ET Q q 0 0 0 rg BT 318.51 408.10 Td (c) Tj ET Q q 0 0 0 rg BT 322.66 408.10 Td (ash ) Tj ET Q q 0 0 0 rg BT 338.88 408.10 Td (balances ) Tj ET Q q 0 0 0 rg BT 376.63 408.10 Td (a) Tj ET Q q 0 0 0 rg BT 381.33 408.10 Td (t ) Tj ET Q q 0 0 0 rg BT 386.94 408.10 Td (the ) Tj ET Q q 0 0 0 rg BT 402.78 408.10 Td (end ) Tj ET Q q 0 0 0 rg BT 420.53 408.10 Td (of ) Tj ET Q q 0 0 0 rg BT 431.11 408.10 Td (the ) Tj ET Q q 0 0 0 rg BT 446.95 408.10 Td (period. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 390.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 390.10 Td (Secur) Tj ET Q q 0 0 0 rg BT 94.41 390.10 Td (ed ) Tj ET Q q 0 0 0 rg BT 107.27 390.10 Td (indeb) Tj ET Q q 0 0 0 rg BT 130.26 390.10 Td (t) Tj ET Q q 0 0 0 rg BT 133.50 390.10 Td (edness ) Tj ET Q q 0 0 0 rg BT 164.42 390.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 200.52 390.10 Td (mortg) Tj ET Q q 0 0 0 rg BT 225.14 390.10 Td (ag) Tj ET Q q 0 0 0 rg BT 234.55 390.10 Td (es ) Tj ET Q q 0 0 0 rg BT 246.07 390.10 Td (and ) Tj ET Q q 0 0 0 rg BT 264.00 390.10 Td (an) Tj ET Q q 0 0 0 rg BT 273.86 390.10 Td (y ) Tj ET Q q 0 0 0 rg BT 281.02 390.10 Td (dr) Tj ET Q q 0 0 0 rg BT 289.56 390.10 Td (a) Tj ET Q q 0 0 0 rg BT 294.28 390.10 Td (w) Tj ET Q q 0 0 0 rg BT 301.34 390.10 Td (s ) Tj ET Q q 0 0 0 rg BT 307.88 390.10 Td (under ) Tj ET Q q 0 0 0 rg BT 334.74 390.10 Td (the ) Tj ET Q q 0 0 0 rg BT 350.95 390.10 Td (secur) Tj ET Q q 0 0 0 rg BT 372.68 390.10 Td (ed ) Tj ET Q q 0 0 0 rg BT 385.54 390.10 Td (f) Tj ET Q q 0 0 0 rg BT 388.40 390.10 Td (acilities ) Tj ET Q q 0 0 0 rg BT 421.46 390.10 Td (which ) Tj ET Q q 0 0 0 rg BT 448.28 390.10 Td (ar) Tj ET Q q 0 0 0 rg BT 456.42 390.10 Td (e ) Tj ET Q q 0 0 0 rg BT 464.03 390.10 Td (c) Tj ET Q q 0 0 0 rg BT 468.18 390.10 Td (olla) Tj ET Q q 0 0 0 rg BT 482.74 390.10 Td (t) Tj ET Q q 0 0 0 rg BT 485.98 390.10 Td (er) Tj ET Q q 0 0 0 rg BT 494.24 390.10 Td (aliz) Tj ET Q q 0 0 0 rg BT 507.34 390.10 Td (ed ) Tj ET Q q 0 0 0 rg BT 520.21 390.10 Td (ag) Tj ET Q q 0 0 0 rg BT 529.52 390.10 Td (ains) Tj ET Q q 0 0 0 rg BT 545.66 390.10 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 378.10 Td (in) Tj ET Q q 0 0 0 rg BT 79.38 378.10 Td (v) Tj ET Q q 0 0 0 rg BT 83.80 378.10 Td (es) Tj ET Q q 0 0 0 rg BT 92.58 378.10 Td (tmen) Tj ET Q q 0 0 0 rg BT 114.05 378.10 Td (t ) Tj ET Q q 0 0 0 rg BT 119.66 378.10 Td (pr) Tj ET Q q 0 0 0 rg BT 128.24 378.10 Td (operty) Tj ET Q q 0 0 0 rg BT 154.45 378.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 360.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 360.10 Td (EBITD) Tj ET Q q 0 0 0 rg BT 95.72 360.10 Td (A) Tj ET Q q 0 0 0 rg BT 101.58 360.10 Td (, as adjus) Tj ET Q q 0 0 0 rg BT 138.79 360.10 Td (t) Tj ET Q q 0 0 0 rg BT 142.03 360.10 Td (ed, is c) Tj ET Q q 0 0 0 rg BT 169.63 360.10 Td (alcula) Tj ET Q q 0 0 0 rg BT 193.19 360.10 Td (t) Tj ET Q q 0 0 0 rg BT 196.43 360.10 Td (ed as ne) Tj ET Q q 0 0 0 rg BT 230.06 360.10 Td (t inc) Tj ET Q q 0 0 0 rg BT 247.36 360.10 Td (ome, adding back inc) Tj ET Q q 0 0 0 rg BT 332.94 360.10 Td (ome t) Tj ET Q q 0 0 0 rg BT 356.67 360.10 Td (a) Tj ET Q q 0 0 0 rg BT 361.37 360.10 Td (x e) Tj ET Q q 0 0 0 rg BT 372.78 360.10 Td (xpense, in) Tj ET Q q 0 0 0 rg BT 413.69 360.10 Td (t) Tj ET Q q 0 0 0 rg BT 416.94 360.10 Td (er) Tj ET Q q 0 0 0 rg BT 425.27 360.10 Td (es) Tj ET Q q 0 0 0 rg BT 434.04 360.10 Td (t e) Tj ET Q q 0 0 0 rg BT 444.48 360.10 Td (xpense and amortiz) Tj ET Q q 0 0 0 rg BT 523.96 360.10 Td (a) Tj ET Q q 0 0 0 rg BT 528.66 360.10 Td (tion ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 348.10 Td (and e) Tj ET Q q 0 0 0 rg BT 94.38 348.10 Td (x) Tj ET Q q 0 0 0 rg BT 98.49 348.10 Td (cluding the incr) Tj ET Q q 0 0 0 rg BT 161.01 348.10 Td (ease or decr) Tj ET Q q 0 0 0 rg BT 210.75 348.10 Td (ease in the v) Tj ET Q q 0 0 0 rg BT 261.69 348.10 Td (alue of in) Tj ET Q q 0 0 0 rg BT 299.23 348.10 Td (v) Tj ET Q q 0 0 0 rg BT 303.65 348.10 Td (es) Tj ET Q q 0 0 0 rg BT 312.42 348.10 Td (tmen) Tj ET Q q 0 0 0 rg BT 333.90 348.10 Td (t pr) Tj ET Q q 0 0 0 rg BT 348.09 348.10 Td (operties, other g) Tj ET Q q 0 0 0 rg BT 415.49 348.10 Td (ains \(losses\) and \(e) Tj ET Q q 0 0 0 rg BT 492.01 348.10 Td (xpenses\), and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 336.10 Td (other non-c) Tj ET Q q 0 0 0 rg BT 119.59 336.10 Td (ash or non-r) Tj ET Q q 0 0 0 rg BT 169.02 336.10 Td (ecurring it) Tj ET Q q 0 0 0 rg BT 210.51 336.10 Td (ems. The Compan) Tj ET Q q 0 0 0 rg BT 283.24 336.10 Td (y also adjus) Tj ET Q q 0 0 0 rg BT 330.04 336.10 Td (ts f) Tj ET Q q 0 0 0 rg BT 342.41 336.10 Td (or incr) Tj ET Q q 0 0 0 rg BT 368.56 336.10 Td (emen) Tj ET Q q 0 0 0 rg BT 391.66 336.10 Td (t) Tj ET Q q 0 0 0 rg BT 394.89 336.10 Td (al leasing c) Tj ET Q q 0 0 0 rg BT 438.87 336.10 Td (os) Tj ET Q q 0 0 0 rg BT 447.94 336.10 Td (ts and c) Tj ET Q q 0 0 0 rg BT 479.16 336.10 Td (os) Tj ET Q q 0 0 0 rg BT 488.24 336.10 Td (ts not ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 324.10 Td (c) Tj ET Q q 0 0 0 rg BT 76.15 324.10 Td (apit) Tj ET Q q 0 0 0 rg BT 91.71 324.10 Td (aliz) Tj ET Q q 0 0 0 rg BT 104.82 324.10 Td (ed during the de) Tj ET Q q 0 0 0 rg BT 171.84 324.10 Td (v) Tj ET Q q 0 0 0 rg BT 176.26 324.10 Td (elopmen) Tj ET Q q 0 0 0 rg BT 212.18 324.10 Td (t period, which ar) Tj ET Q q 0 0 0 rg BT 283.67 324.10 Td (e r) Tj ET Q q 0 0 0 rg BT 294.26 324.10 Td (ec) Tj ET Q q 0 0 0 rg BT 303.38 324.10 Td (ogniz) Tj ET Q q 0 0 0 rg BT 324.64 324.10 Td (ed adjus) Tj ET Q q 0 0 0 rg BT 358.62 324.10 Td (tmen) Tj ET Q q 0 0 0 rg BT 380.09 324.10 Td (ts t) Tj ET Q q 0 0 0 rg BT 392.86 324.10 Td (o FF) Tj ET Q q 0 0 0 rg BT 409.50 324.10 Td (O and AFF) Tj ET Q q 0 0 0 rg BT 450.83 324.10 Td (O) Tj ET Q q 0 0 0 rg BT 457.21 324.10 Td (, r) Tj ET Q q 0 0 0 rg BT 465.33 324.10 Td (espectiv) Tj ET Q q 0 0 0 rg BT 498.73 324.10 Td (ely) Tj ET Q q 0 0 0 rg BT 509.87 324.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 306.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 306.10 Td (Fix) Tj ET Q q 0 0 0 rg BT 82.96 306.10 Td (ed char) Tj ET Q q 0 0 0 rg BT 113.07 306.10 Td (g) Tj ET Q q 0 0 0 rg BT 117.69 306.10 Td (es include r) Tj ET Q q 0 0 0 rg BT 164.01 306.10 Td (egular principal and in) Tj ET Q q 0 0 0 rg BT 254.21 306.10 Td (t) Tj ET Q q 0 0 0 rg BT 257.45 306.10 Td (er) Tj ET Q q 0 0 0 rg BT 265.78 306.10 Td (es) Tj ET Q q 0 0 0 rg BT 274.55 306.10 Td (t pa) Tj ET Q q 0 0 0 rg BT 290.02 306.10 Td (ymen) Tj ET Q q 0 0 0 rg BT 312.67 306.10 Td (ts and c) Tj ET Q q 0 0 0 rg BT 343.90 306.10 Td (apit) Tj ET Q q 0 0 0 rg BT 359.47 306.10 Td (aliz) Tj ET Q q 0 0 0 rg BT 372.57 306.10 Td (ed in) Tj ET Q q 0 0 0 rg BT 392.52 306.10 Td (t) Tj ET Q q 0 0 0 rg BT 395.76 306.10 Td (er) Tj ET Q q 0 0 0 rg BT 404.09 306.10 Td (es) Tj ET Q q 0 0 0 rg BT 412.86 306.10 Td (t in the c) Tj ET Q q 0 0 0 rg BT 448.27 306.10 Td (alcula) Tj ET Q q 0 0 0 rg BT 471.83 306.10 Td (tion of in) Tj ET Q q 0 0 0 rg BT 508.30 306.10 Td (t) Tj ET Q q 0 0 0 rg BT 511.55 306.10 Td (er) Tj ET Q q 0 0 0 rg BT 519.88 306.10 Td (es) Tj ET Q q 0 0 0 rg BT 528.65 306.10 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 294.10 Td (e) Tj ET Q q 0 0 0 rg BT 76.82 294.10 Td (xpense and do not include non-c) Tj ET Q q 0 0 0 rg BT 209.08 294.10 Td (ash in) Tj ET Q q 0 0 0 rg BT 232.75 294.10 Td (t) Tj ET Q q 0 0 0 rg BT 235.99 294.10 Td (er) Tj ET Q q 0 0 0 rg BT 244.32 294.10 Td (es) Tj ET Q q 0 0 0 rg BT 253.09 294.10 Td (t on c) Tj ET Q q 0 0 0 rg BT 275.64 294.10 Td (on) Tj ET Q q 0 0 0 rg BT 286.00 294.10 Td (v) Tj ET Q q 0 0 0 rg BT 290.42 294.10 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 344.93 294.10 Td (tur) Tj ET Q q 0 0 0 rg BT 356.89 294.10 Td (es.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 276.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 276.10 Td (Unencumber) Tj ET Q q 0 0 0 rg BT 124.95 276.10 Td (ed asse) Tj ET Q q 0 0 0 rg BT 154.98 276.10 Td (ts include the v) Tj ET Q q 0 0 0 rg BT 216.53 276.10 Td (alue of asse) Tj ET Q q 0 0 0 rg BT 264.22 276.10 Td (ts tha) Tj ET Q q 0 0 0 rg BT 287.04 276.10 Td (t ha) Tj ET Q q 0 0 0 rg BT 302.53 276.10 Td (v) Tj ET Q q 0 0 0 rg BT 306.95 276.10 Td (e not been pledg) Tj ET Q q 0 0 0 rg BT 375.45 276.10 Td (ed as security under an) Tj ET Q q 0 0 0 rg BT 469.53 276.10 Td (y cr) Tj ET Q q 0 0 0 rg BT 483.90 276.10 Td (edit agr) Tj ET Q q 0 0 0 rg BT 514.89 276.10 Td (eemen) Tj ET Q q 0 0 0 rg BT 542.96 276.10 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 264.10 Td (or mortg) Tj ET Q q 0 0 0 rg BT 107.64 264.10 Td (ag) Tj ET Q q 0 0 0 rg BT 117.05 264.10 Td (e. The unencumber) Tj ET Q q 0 0 0 rg BT 195.97 264.10 Td (ed ag) Tj ET Q q 0 0 0 rg BT 218.05 264.10 Td (gr) Tj ET Q q 0 0 0 rg BT 226.11 264.10 Td (eg) Tj ET Q q 0 0 0 rg BT 235.61 264.10 Td (a) Tj ET Q q 0 0 0 rg BT 240.31 264.10 Td (t) Tj ET Q q 0 0 0 rg BT 243.55 264.10 Td (e asse) Tj ET Q q 0 0 0 rg BT 268.32 264.10 Td (ts t) Tj ET Q q 0 0 0 rg BT 281.09 264.10 Td (o unsecur) Tj ET Q q 0 0 0 rg BT 320.86 264.10 Td (ed deb) Tj ET Q q 0 0 0 rg BT 348.79 264.10 Td (t r) Tj ET Q q 0 0 0 rg BT 357.68 264.10 Td (a) Tj ET Q q 0 0 0 rg BT 362.38 264.10 Td (tio is c) Tj ET Q q 0 0 0 rg BT 388.17 264.10 Td (alcula) Tj ET Q q 0 0 0 rg BT 411.73 264.10 Td (t) Tj ET Q q 0 0 0 rg BT 414.97 264.10 Td (ed as unencumber) Tj ET Q q 0 0 0 rg BT 490.21 264.10 Td (ed asse) Tj ET Q q 0 0 0 rg BT 520.24 264.10 Td (ts ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 252.10 Td (divided b) Tj ET Q q 0 0 0 rg BT 109.31 252.10 Td (y the principal amoun) Tj ET Q q 0 0 0 rg BT 197.82 252.10 Td (t of the unsecur) Tj ET Q q 0 0 0 rg BT 262.08 252.10 Td (ed deb) Tj ET Q q 0 0 0 rg BT 290.01 252.10 Td (t, which c) Tj ET Q q 0 0 0 rg BT 328.70 252.10 Td (onsis) Tj ET Q q 0 0 0 rg BT 349.24 252.10 Td (ts of the senior unsecur) Tj ET Q q 0 0 0 rg BT 444.87 252.10 Td (ed deben) Tj ET Q q 0 0 0 rg BT 482.98 252.10 Td (tur) Tj ET Q q 0 0 0 rg BT 494.94 252.10 Td (es and an) Tj ET Q q 0 0 0 rg BT 533.50 252.10 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 240.10 Td (dr) Tj ET Q q 0 0 0 rg BT 80.54 240.10 Td (a) Tj ET Q q 0 0 0 rg BT 85.26 240.10 Td (w) Tj ET Q q 0 0 0 rg BT 92.32 240.10 Td (s under the unsecur) Tj ET Q q 0 0 0 rg BT 173.04 240.10 Td (ed f) Tj ET Q q 0 0 0 rg BT 188.39 240.10 Td (acility) Tj ET Q q 0 0 0 rg BT 211.51 240.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 222.10 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 222.10 Td (y) Tj ET Q q 0 0 0 rg BT 109.90 222.10 Td () Tj ET Q q 0 0 0 rg BT 111.78 222.10 Td (s s) Tj ET Q q 0 0 0 rg BT 121.75 222.10 Td (tr) Tj ET Q q 0 0 0 rg BT 128.38 222.10 Td (a) Tj ET Q q 0 0 0 rg BT 133.08 222.10 Td (t) Tj ET Q q 0 0 0 rg BT 136.32 222.10 Td (egy in) Tj ET Q q 0 0 0 rg BT 160.18 222.10 Td (v) Tj ET Q q 0 0 0 rg BT 164.60 222.10 Td (olv) Tj ET Q q 0 0 0 rg BT 176.59 222.10 Td (es main) Tj ET Q q 0 0 0 rg BT 207.97 222.10 Td (t) Tj ET Q q 0 0 0 rg BT 211.20 222.10 Td (aining its moder) Tj ET Q q 0 0 0 rg BT 276.64 222.10 Td (a) Tj ET Q q 0 0 0 rg BT 281.34 222.10 Td (t) Tj ET Q q 0 0 0 rg BT 284.58 222.10 Td (e le) Tj ET Q q 0 0 0 rg BT 299.04 222.10 Td (v) Tj ET Q q 0 0 0 rg BT 303.46 222.10 Td (er) Tj ET Q q 0 0 0 rg BT 311.71 222.10 Td (ag) Tj ET Q q 0 0 0 rg BT 321.13 222.10 Td (e and c) Tj ET Q q 0 0 0 rg BT 350.07 222.10 Td (on) Tj ET Q q 0 0 0 rg BT 360.50 222.10 Td (tinuing t) Tj ET Q q 0 0 0 rg BT 394.42 222.10 Td (o impr) Tj ET Q q 0 0 0 rg BT 420.82 222.10 Td (o) Tj ET Q q 0 0 0 rg BT 426.05 222.10 Td (v) Tj ET Q q 0 0 0 rg BT 430.47 222.10 Td (e the in) Tj ET Q q 0 0 0 rg BT 461.00 222.10 Td (t) Tj ET Q q 0 0 0 rg BT 464.24 222.10 Td (er) Tj ET Q q 0 0 0 rg BT 472.57 222.10 Td (es) Tj ET Q q 0 0 0 rg BT 481.35 222.10 Td (t c) Tj ET Q q 0 0 0 rg BT 491.10 222.10 Td (o) Tj ET Q q 0 0 0 rg BT 496.33 222.10 Td (v) Tj ET Q q 0 0 0 rg BT 500.75 222.10 Td (er) Tj ET Q q 0 0 0 rg BT 509.01 222.10 Td (ag) Tj ET Q q 0 0 0 rg BT 518.42 222.10 Td (e and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 210.10 Td (fix) Tj ET Q q 0 0 0 rg BT 63.41 210.10 Td (ed char) Tj ET Q q 0 0 0 rg BT 93.53 210.10 Td (g) Tj ET Q q 0 0 0 rg BT 98.15 210.10 Td (es c) Tj ET Q q 0 0 0 rg BT 113.44 210.10 Td (o) Tj ET Q q 0 0 0 rg BT 118.67 210.10 Td (v) Tj ET Q q 0 0 0 rg BT 123.09 210.10 Td (er) Tj ET Q q 0 0 0 rg BT 131.35 210.10 Td (ag) Tj ET Q q 0 0 0 rg BT 140.76 210.10 Td (e r) Tj ET Q q 0 0 0 rg BT 151.28 210.10 Td (a) Tj ET Q q 0 0 0 rg BT 155.98 210.10 Td (tios t) Tj ET Q q 0 0 0 rg BT 176.32 210.10 Td (o allo) Tj ET Q q 0 0 0 rg BT 198.47 210.10 Td (w c) Tj ET Q q 0 0 0 rg BT 212.02 210.10 Td (on) Tj ET Q q 0 0 0 rg BT 222.46 210.10 Td (tinued access t) Tj ET Q q 0 0 0 rg BT 282.66 210.10 Td (o c) Tj ET Q q 0 0 0 rg BT 294.34 210.10 Td (apit) Tj ET Q q 0 0 0 rg BT 309.90 210.10 Td (al a) Tj ET Q q 0 0 0 rg BT 323.95 210.10 Td (t a r) Tj ET Q q 0 0 0 rg BT 339.96 210.10 Td (easonable c) Tj ET Q q 0 0 0 rg BT 387.89 210.10 Td (os) Tj ET Q q 0 0 0 rg BT 396.96 210.10 Td (t. The Compan) Tj ET Q q 0 0 0 rg BT 456.16 210.10 Td (y) Tj ET Q q 0 0 0 rg BT 460.99 210.10 Td () Tj ET Q q 0 0 0 rg BT 462.88 210.10 Td (s senior unsecur) Tj ET Q q 0 0 0 rg BT 528.74 210.10 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 198.10 Td (deben) Tj ET Q q 0 0 0 rg BT 79.62 198.10 Td (tur) Tj ET Q q 0 0 0 rg BT 91.58 198.10 Td (es ar) Tj ET Q q 0 0 0 rg BT 110.87 198.10 Td (e curr) Tj ET Q q 0 0 0 rg BT 134.43 198.10 Td (en) Tj ET Q q 0 0 0 rg BT 144.57 198.10 Td (tly r) Tj ET Q q 0 0 0 rg BT 160.28 198.10 Td (a) Tj ET Q q 0 0 0 rg BT 164.98 198.10 Td (t) Tj ET Q q 0 0 0 rg BT 168.22 198.10 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 180.71 198.10 Td (BBB \(high\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 222.86 198.10 Td ( with a ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 252.48 198.10 Td (s) Tj ET Q q 0 0 0 rg BT 256.28 198.10 Td (t) Tj ET Q q 0 0 0 rg BT 259.51 198.10 Td (able) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 276.82 198.10 Td ( tr) Tj ET Q q 0 0 0 rg BT 285.79 198.10 Td (end b) Tj ET Q q 0 0 0 rg BT 308.74 198.10 Td (y Dominion Bond Ra) Tj ET Q q 0 0 0 rg BT 391.18 198.10 Td (ting Ser) Tj ET Q q 0 0 0 rg BT 422.19 198.10 Td (vice L) Tj ET Q q 0 0 0 rg BT 444.49 198.10 Td (t) Tj ET Q q 0 0 0 rg BT 447.73 198.10 Td (d. and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 475.32 198.10 Td (Baa2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 495.41 198.10 Td ( with a ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 186.10 Td (s) Tj ET Q q 0 0 0 rg BT 57.80 186.10 Td (t) Tj ET Q q 0 0 0 rg BT 61.03 186.10 Td (able) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 78.34 186.10 Td ( outlook b) Tj ET Q q 0 0 0 rg BT 119.33 186.10 Td (y Moody) Tj ET Q q 0 0 0 rg BT 155.30 186.10 Td () Tj ET Q q 0 0 0 rg BT 157.18 186.10 Td (s In) Tj ET Q q 0 0 0 rg BT 170.96 186.10 Td (v) Tj ET Q q 0 0 0 rg BT 175.38 186.10 Td (es) Tj ET Q q 0 0 0 rg BT 184.16 186.10 Td (t) Tj ET Q q 0 0 0 rg BT 187.41 186.10 Td (or) Tj ET Q q 0 0 0 rg BT 196.00 186.10 Td (s Ser) Tj ET Q q 0 0 0 rg BT 215.32 186.10 Td (vice.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 168.10 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 168.10 Td (y) Tj ET Q q 0 0 0 rg BT 109.90 168.10 Td () Tj ET Q q 0 0 0 rg BT 111.78 168.10 Td (s long-t) Tj ET Q q 0 0 0 rg BT 141.79 168.10 Td (erm financing s) Tj ET Q q 0 0 0 rg BT 203.69 168.10 Td (tr) Tj ET Q q 0 0 0 rg BT 210.32 168.10 Td (a) Tj ET Q q 0 0 0 rg BT 215.02 168.10 Td (t) Tj ET Q q 0 0 0 rg BT 218.26 168.10 Td (egy is based on main) Tj ET Q q 0 0 0 rg BT 302.66 168.10 Td (t) Tj ET Q q 0 0 0 rg BT 305.89 168.10 Td (aining fle) Tj ET Q q 0 0 0 rg BT 342.92 168.10 Td (xibility in accessing v) Tj ET Q q 0 0 0 rg BT 426.56 168.10 Td (arious f) Tj ET Q q 0 0 0 rg BT 456.67 168.10 Td (orms of deb) Tj ET Q q 0 0 0 rg BT 505.62 168.10 Td (t and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 156.10 Td (equity c) Tj ET Q q 0 0 0 rg BT 86.06 156.10 Td (apit) Tj ET Q q 0 0 0 rg BT 101.63 156.10 Td (al b) Tj ET Q q 0 0 0 rg BT 116.18 156.10 Td (y main) Tj ET Q q 0 0 0 rg BT 143.20 156.10 Td (t) Tj ET Q q 0 0 0 rg BT 146.43 156.10 Td (aining a pool of unencumber) Tj ET Q q 0 0 0 rg BT 263.07 156.10 Td (ed asse) Tj ET Q q 0 0 0 rg BT 293.09 156.10 Td (ts and in) Tj ET Q q 0 0 0 rg BT 327.55 156.10 Td (v) Tj ET Q q 0 0 0 rg BT 331.97 156.10 Td (es) Tj ET Q q 0 0 0 rg BT 340.75 156.10 Td (tmen) Tj ET Q q 0 0 0 rg BT 362.22 156.10 Td (t gr) Tj ET Q q 0 0 0 rg BT 375.82 156.10 Td (ade cr) Tj ET Q q 0 0 0 rg BT 400.68 156.10 Td (edit r) Tj ET Q q 0 0 0 rg BT 422.10 156.10 Td (a) Tj ET Q q 0 0 0 rg BT 426.80 156.10 Td (tings fr) Tj ET Q q 0 0 0 rg BT 454.95 156.10 Td (om r) Tj ET Q q 0 0 0 rg BT 473.76 156.10 Td (a) Tj ET Q q 0 0 0 rg BT 478.45 156.10 Td (ting ag) Tj ET Q q 0 0 0 rg BT 505.73 156.10 Td (encies. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 144.10 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 144.10 Td (y periodic) Tj ET Q q 0 0 0 rg BT 144.83 144.10 Td (ally r) Tj ET Q q 0 0 0 rg BT 164.36 144.10 Td (e-e) Tj ET Q q 0 0 0 rg BT 177.32 144.10 Td (v) Tj ET Q q 0 0 0 rg BT 181.69 144.10 Td (alua) Tj ET Q q 0 0 0 rg BT 198.73 144.10 Td (t) Tj ET Q q 0 0 0 rg BT 201.97 144.10 Td (es its o) Tj ET Q q 0 0 0 rg BT 230.16 144.10 Td (v) Tj ET Q q 0 0 0 rg BT 234.58 144.10 Td (er) Tj ET Q q 0 0 0 rg BT 242.84 144.10 Td (all financing and c) Tj ET Q q 0 0 0 rg BT 315.57 144.10 Td (apit) Tj ET Q q 0 0 0 rg BT 331.14 144.10 Td (al e) Tj ET Q q 0 0 0 rg BT 345.31 144.10 Td (x) Tj ET Q q 0 0 0 rg BT 349.38 144.10 Td (ecution s) Tj ET Q q 0 0 0 rg BT 386.07 144.10 Td (tr) Tj ET Q q 0 0 0 rg BT 392.70 144.10 Td (a) Tj ET Q q 0 0 0 rg BT 397.39 144.10 Td (t) Tj ET Q q 0 0 0 rg BT 400.64 144.10 Td (egy t) Tj ET Q q 0 0 0 rg BT 420.36 144.10 Td (o ensur) Tj ET Q q 0 0 0 rg BT 450.64 144.10 Td (e the bes) Tj ET Q q 0 0 0 rg BT 487.75 144.10 Td (t access t) Tj ET Q q 0 0 0 rg BT 524.91 144.10 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 132.10 Td (a) Tj ET Q q 0 0 0 rg BT 58.62 132.10 Td (v) Tj ET Q q 0 0 0 rg BT 62.99 132.10 Td (ailable c) Tj ET Q q 0 0 0 rg BT 96.09 132.10 Td (apit) Tj ET Q q 0 0 0 rg BT 111.66 132.10 Td (al a) Tj ET Q q 0 0 0 rg BT 125.70 132.10 Td (t a r) Tj ET Q q 0 0 0 rg BT 141.72 132.10 Td (easonable c) Tj ET Q q 0 0 0 rg BT 189.64 132.10 Td (os) Tj ET Q q 0 0 0 rg BT 198.72 132.10 Td (t.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 114.10 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 114.10 Td (y is subject t) Tj ET Q q 0 0 0 rg BT 155.20 114.10 Td (o financial c) Tj ET Q q 0 0 0 rg BT 203.39 114.10 Td (o) Tj ET Q q 0 0 0 rg BT 208.62 114.10 Td (v) Tj ET Q q 0 0 0 rg BT 213.04 114.10 Td (enan) Tj ET Q q 0 0 0 rg BT 233.22 114.10 Td (ts in agr) Tj ET Q q 0 0 0 rg BT 265.41 114.10 Td (eemen) Tj ET Q q 0 0 0 rg BT 293.48 114.10 Td (ts g) Tj ET Q q 0 0 0 rg BT 307.64 114.10 Td (o) Tj ET Q q 0 0 0 rg BT 312.87 114.10 Td (v) Tj ET Q q 0 0 0 rg BT 317.29 114.10 Td (erning its senior unsecur) Tj ET Q q 0 0 0 rg BT 417.03 114.10 Td (ed deben) Tj ET Q q 0 0 0 rg BT 455.14 114.10 Td (tur) Tj ET Q q 0 0 0 rg BT 467.10 114.10 Td (es, unsecur) Tj ET Q q 0 0 0 rg BT 512.97 114.10 Td (ed and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 102.10 Td (secur) Tj ET Q q 0 0 0 rg BT 75.72 102.10 Td (ed r) Tj ET Q q 0 0 0 rg BT 91.57 102.10 Td (e) Tj ET Q q 0 0 0 rg BT 96.50 102.10 Td (v) Tj ET Q q 0 0 0 rg BT 100.92 102.10 Td (olving cr) Tj ET Q q 0 0 0 rg BT 135.10 102.10 Td (edit f) Tj ET Q q 0 0 0 rg BT 156.09 102.10 Td (acilities. As a) Tj ET Q q 0 0 0 rg BT 207.97 102.10 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 213.58 102.10 Td (Mar) Tj ET Q q 0 0 0 rg BT 230.26 102.10 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 277.17 102.10 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 331.47 102.10 Td (y r) Tj ET Q q 0 0 0 rg BT 341.61 102.10 Td (emains in c) Tj ET Q q 0 0 0 rg BT 387.04 102.10 Td (ompliance with all of its applic) Tj ET Q q 0 0 0 rg BT 510.04 102.10 Td (able ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 90.10 Td (financial c) Tj ET Q q 0 0 0 rg BT 94.66 90.10 Td (o) Tj ET Q q 0 0 0 rg BT 99.89 90.10 Td (v) Tj ET Q q 0 0 0 rg BT 104.31 90.10 Td (enan) Tj ET Q q 0 0 0 rg BT 124.49 90.10 Td (ts.) Tj ET Q endstream endobj 143 0 obj <> endobj 144 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (70) Tj ET Q BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 691.50 Td (10) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 68.19 691.50 Td (. MOR) Tj ET Q q 0 0 0 rg BT 104.54 691.50 Td (T) Tj ET Q q 0 0 0 rg BT 111.09 691.50 Td (GA) Tj ET Q q 0 0 0 rg BT 128.33 691.50 Td (GE) Tj ET Q q 0 0 0 rg BT 143.94 691.50 Td (S AND CREDIT F) Tj ET Q q 0 0 0 rg BT 233.83 691.50 Td (A) Tj ET Q q 0 0 0 rg BT 242.15 691.50 Td (CILITIE) Tj ET Q q 0 0 0 rg BT 280.30 691.50 Td (S) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 675 m 403.5 675 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 660 m 403.5 660 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 675 m 423.5 675 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 660 m 423.5 660 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 675 m 478.5 675 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423.5 660 m 478.5 660 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 675 m 498.5 675 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 660 m 498.5 660 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 675 m 553.5 675 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 660 m 553.5 660 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 634 m 403.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 621 m 403.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 634 m 423.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 621 m 423.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423.5 634 m 478.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 621 m 478.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 634 m 498.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 621 m 498.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 634 m 553.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 621 m 553.5 621 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 595 m 498.5 595 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 595 m 553.5 595 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 595 m 403.5 595 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 580 m 403.5 580 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 595 m 423.5 595 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 580 m 423.5 580 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423.5 595 m 478.5 595 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 580 m 478.5 580 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 595 m 498.5 595 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 580 m 498.5 580 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 595 m 553.5 595 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 580 m 553.5 580 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 664.50 Td (As at \(thousands of Canadian dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.65 664.50 Td (March 31, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 486.40 664.50 Td (December 31, 2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 650.75 Td (Fixed rate mortgages) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 426.00 650.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 438.55 650.75 Td (1,086,023) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 501.00 650.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 513.80 650.75 Td (1,165,625) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 637.75 Td (Secured facility) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 454.55 637.75 Td (7,785) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.75 637.75 Td (7,785) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 426.00 624.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 438.55 624.75 Td (1,093,808) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 501.00 624.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 513.80 624.75 Td (1,173,410) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 611.75 Td (Current) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 426.00 611.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.45 611.75 Td (209,453) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 501.00 611.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 520.60 611.75 Td (253,957) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 598.75 Td (Non-current) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.45 598.75 Td (884,355) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 520.35 598.75 Td (919,453) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 584.75 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 426.00 584.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 438.55 584.75 Td (1,093,808) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 501.00 584.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 513.80 584.75 Td (1,173,410) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 559.50 Td (Mortg) Tj ET Q q 0 0 0 rg BT 79.18 559.50 Td (ag) Tj ET Q q 0 0 0 rg BT 88.59 559.50 Td (es and the secur) Tj ET Q q 0 0 0 rg BT 154.86 559.50 Td (ed f) Tj ET Q q 0 0 0 rg BT 170.21 559.50 Td (acility ar) Tj ET Q q 0 0 0 rg BT 204.40 559.50 Td (e secur) Tj ET Q q 0 0 0 rg BT 233.36 559.50 Td (ed b) Tj ET Q q 0 0 0 rg BT 251.05 559.50 Td (y in) Tj ET Q q 0 0 0 rg BT 265.22 559.50 Td (v) Tj ET Q q 0 0 0 rg BT 269.64 559.50 Td (es) Tj ET Q q 0 0 0 rg BT 278.41 559.50 Td (tmen) Tj ET Q q 0 0 0 rg BT 299.89 559.50 Td (t pr) Tj ET Q q 0 0 0 rg BT 314.08 559.50 Td (operties. Of the f) Tj ET Q q 0 0 0 rg BT 383.01 559.50 Td (air v) Tj ET Q q 0 0 0 rg BT 400.22 559.50 Td (alue of in) Tj ET Q q 0 0 0 rg BT 437.76 559.50 Td (v) Tj ET Q q 0 0 0 rg BT 442.18 559.50 Td (es) Tj ET Q q 0 0 0 rg BT 450.95 559.50 Td (tmen) Tj ET Q q 0 0 0 rg BT 472.43 559.50 Td (t pr) Tj ET Q q 0 0 0 rg BT 486.62 559.50 Td (operties of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 547.50 Td ($7.6 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 98.95 547.50 Td ( as a) Tj ET Q q 0 0 0 rg BT 116.87 547.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 122.48 547.50 Td (Mar) Tj ET Q q 0 0 0 rg BT 139.16 547.50 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 186.07 547.50 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 191.36 547.50 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 270.83 547.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 280.33 547.50 Td ($7.5 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 325.28 547.50 Td (\), appr) Tj ET Q q 0 0 0 rg BT 351.69 547.50 Td (o) Tj ET Q q 0 0 0 rg BT 356.77 547.50 Td (xima) Tj ET Q q 0 0 0 rg BT 376.08 547.50 Td (t) Tj ET Q q 0 0 0 rg BT 379.32 547.50 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 393.38 547.50 Td ($2.6 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 438.33 547.50 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 443.62 547.50 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 523.09 547.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 535.50 Td ($2.7 billion) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 98.95 535.50 Td (\) has been pledg) Tj ET Q q 0 0 0 rg BT 165.58 535.50 Td (ed as security under the mortg) Tj ET Q q 0 0 0 rg BT 290.26 535.50 Td (ag) Tj ET Q q 0 0 0 rg BT 299.68 535.50 Td (es and the secur) Tj ET Q q 0 0 0 rg BT 365.95 535.50 Td (ed f) Tj ET Q q 0 0 0 rg BT 381.29 535.50 Td (acility \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 410.37 535.50 Td (Not) Tj ET Q q 0 0 0 rg BT 425.34 535.50 Td (e 5) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.64 535.50 Td (\(a\)\).) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 517.50 Td (Mortg) Tj ET Q q 0 0 0 rg BT 79.18 517.50 Td (ag) Tj ET Q q 0 0 0 rg BT 88.59 517.50 Td (es bear c) Tj ET Q q 0 0 0 rg BT 124.65 517.50 Td (oupon in) Tj ET Q q 0 0 0 rg BT 160.68 517.50 Td (t) Tj ET Q q 0 0 0 rg BT 163.92 517.50 Td (er) Tj ET Q q 0 0 0 rg BT 172.25 517.50 Td (es) Tj ET Q q 0 0 0 rg BT 181.03 517.50 Td (t a) Tj ET Q q 0 0 0 rg BT 191.33 517.50 Td (t a w) Tj ET Q q 0 0 0 rg BT 211.06 517.50 Td (eigh) Tj ET Q q 0 0 0 rg BT 228.19 517.50 Td (t) Tj ET Q q 0 0 0 rg BT 231.44 517.50 Td (ed a) Tj ET Q q 0 0 0 rg BT 248.55 517.50 Td (v) Tj ET Q q 0 0 0 rg BT 252.97 517.50 Td (er) Tj ET Q q 0 0 0 rg BT 261.23 517.50 Td (ag) Tj ET Q q 0 0 0 rg BT 270.64 517.50 Td (e in) Tj ET Q q 0 0 0 rg BT 285.33 517.50 Td (t) Tj ET Q q 0 0 0 rg BT 288.58 517.50 Td (er) Tj ET Q q 0 0 0 rg BT 296.91 517.50 Td (es) Tj ET Q q 0 0 0 rg BT 305.68 517.50 Td (t r) Tj ET Q q 0 0 0 rg BT 314.57 517.50 Td (a) Tj ET Q q 0 0 0 rg BT 319.27 517.50 Td (t) Tj ET Q q 0 0 0 rg BT 322.51 517.50 Td (e of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 340.33 517.50 Td (5.1%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 360.14 517.50 Td ( per annum as a) Tj ET Q q 0 0 0 rg BT 424.84 517.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 430.45 517.50 Td (Mar) Tj ET Q q 0 0 0 rg BT 447.13 517.50 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 494.04 517.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 505.50 Td (\() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 57.03 505.50 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 136.50 505.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 146.00 505.50 Td (5.0%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 165.81 505.50 Td ( per annum\) and ma) Tj ET Q q 0 0 0 rg BT 248.12 505.50 Td (tur) Tj ET Q q 0 0 0 rg BT 260.08 505.50 Td (e in the y) Tj ET Q q 0 0 0 rg BT 297.37 505.50 Td (ear) Tj ET Q q 0 0 0 rg BT 310.45 505.50 Td (s r) Tj ET Q q 0 0 0 rg BT 319.90 505.50 Td (anging fr) Tj ET Q q 0 0 0 rg BT 355.55 505.50 Td (om ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 371.07 505.50 Td (2015 t) Tj ET Q q 0 0 0 rg BT 396.86 505.50 Td (o 2025) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 424.66 505.50 Td (. The w) Tj ET Q q 0 0 0 rg BT 453.87 505.50 Td (eigh) Tj ET Q q 0 0 0 rg BT 471.01 505.50 Td (t) Tj ET Q q 0 0 0 rg BT 474.25 505.50 Td (ed a) Tj ET Q q 0 0 0 rg BT 491.37 505.50 Td (v) Tj ET Q q 0 0 0 rg BT 495.79 505.50 Td (er) Tj ET Q q 0 0 0 rg BT 504.04 505.50 Td (ag) Tj ET Q q 0 0 0 rg BT 513.46 505.50 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 493.50 Td (e) Tj ET Q q 0 0 0 rg BT 58.89 493.50 Td (f) Tj ET Q q 0 0 0 rg BT 61.84 493.50 Td (f) Tj ET Q q 0 0 0 rg BT 64.64 493.50 Td (ectiv) Tj ET Q q 0 0 0 rg BT 83.91 493.50 Td (e in) Tj ET Q q 0 0 0 rg BT 98.60 493.50 Td (t) Tj ET Q q 0 0 0 rg BT 101.85 493.50 Td (er) Tj ET Q q 0 0 0 rg BT 110.18 493.50 Td (es) Tj ET Q q 0 0 0 rg BT 118.95 493.50 Td (t r) Tj ET Q q 0 0 0 rg BT 127.84 493.50 Td (a) Tj ET Q q 0 0 0 rg BT 132.54 493.50 Td (t) Tj ET Q q 0 0 0 rg BT 135.78 493.50 Td (e on all mortg) Tj ET Q q 0 0 0 rg BT 192.07 493.50 Td (ag) Tj ET Q q 0 0 0 rg BT 201.48 493.50 Td (es as a) Tj ET Q q 0 0 0 rg BT 228.29 493.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 233.90 493.50 Td (Mar) Tj ET Q q 0 0 0 rg BT 250.58 493.50 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 297.49 493.50 Td ( is ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.21 493.50 Td (4.7%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 328.02 493.50 Td ( per annum \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 380.09 493.50 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 459.56 493.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.06 493.50 Td (4.7%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 488.87 493.50 Td ( per annum\).) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 475.50 Td (Principal r) Tj ET Q q 0 0 0 rg BT 94.68 475.50 Td (epa) Tj ET Q q 0 0 0 rg BT 109.51 475.50 Td (ymen) Tj ET Q q 0 0 0 rg BT 132.16 475.50 Td (ts of mortg) Tj ET Q q 0 0 0 rg BT 176.89 475.50 Td (ag) Tj ET Q q 0 0 0 rg BT 186.30 475.50 Td (es and secur) Tj ET Q q 0 0 0 rg BT 236.73 475.50 Td (ed f) Tj ET Q q 0 0 0 rg BT 252.08 475.50 Td (acility outs) Tj ET Q q 0 0 0 rg BT 295.80 475.50 Td (t) Tj ET Q q 0 0 0 rg BT 299.02 475.50 Td (anding as a) Tj ET Q q 0 0 0 rg BT 344.50 475.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 350.11 475.50 Td (Mar) Tj ET Q q 0 0 0 rg BT 366.79 475.50 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 413.70 475.50 Td ( ar) Tj ET Q q 0 0 0 rg BT 424.10 475.50 Td (e as f) Tj ET Q q 0 0 0 rg BT 445.14 475.50 Td (ollo) Tj ET Q q 0 0 0 rg BT 460.24 475.50 Td (w) Tj ET Q q 0 0 0 rg BT 467.30 475.50 Td (s:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 459 m 318.5 459 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 426 m 318.5 426 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 459 m 378.5 459 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 318.5 426 m 378.5 426 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 459 m 438.5 459 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378.5 426 m 438.5 426 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 459 m 498.5 459 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 438.5 426 m 498.5 426 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 459 m 558.5 459 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 426 m 558.5 426 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 318.5 348 m 378.5 348 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378.5 348 m 438.5 348 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 348 m 318.5 348 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 335 m 318.5 335 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 318.5 348 m 378.5 348 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 318.5 335 m 378.5 335 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378.5 348 m 438.5 348 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378.5 335 m 438.5 335 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 438.5 348 m 498.5 348 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 438.5 335 m 498.5 335 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 348 m 558.5 348 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 335 m 558.5 335 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 322 m 318.5 322 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 307 m 318.5 307 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 318.5 322 m 378.5 322 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 307 m 378.5 307 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378.5 322 m 438.5 322 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 307 m 438.5 307 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 438.5 322 m 498.5 322 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 307 m 498.5 307 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 322 m 558.5 322 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 307 m 558.5 307 l s BT /F4 7.50 Tf ET q 0 0 0 rg BT 57.00 430.38 Td (\(thousands of Canadian dollars, except other data\)) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 343.40 437.88 Td (Scheduled) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 335.35 430.38 Td (Amortiz) Tj ET Q q 0 0 0 rg BT 359.32 430.38 Td (a) Tj ET Q q 0 0 0 rg BT 362.85 430.38 Td (tion) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 395.80 437.88 Td (P) Tj ET Q q 0 0 0 rg BT 399.51 437.88 Td (a) Tj ET Q q 0 0 0 rg BT 402.97 437.88 Td (ymen) Tj ET Q q 0 0 0 rg BT 419.96 437.88 Td (ts on) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 408.35 430.38 Td (Ma) Tj ET Q q 0 0 0 rg BT 418.29 430.38 Td (turity) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 480.30 430.38 Td (Total) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 525.60 445.38 Td (Weighted) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 502.85 437.88 Td (Average Effective) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 516.00 430.38 Td (Interest Rate) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 415.75 Td (2015 \(remainder of the year\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 321.00 416.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 350.15 416.75 Td (21,778) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 381.00 416.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 405.60 416.75 Td (142,658) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 441.00 416.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 465.60 416.75 Td (164,436) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 416.75 Td (5.22) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 416.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 402.75 Td (2016) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 349.90 403.75 Td (24,523) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 405.35 403.75 Td (165,318) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 465.35 403.75 Td (189,841) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 403.75 Td (3.84) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 403.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 389.75 Td (2017) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 349.90 390.75 Td (21,686) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 409.90 390.75 Td (82,902) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 465.35 390.75 Td (104,588) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 390.75 Td (4.02) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 390.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 376.75 Td (2018) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 349.90 377.75 Td (17,696) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 405.35 377.75 Td (123,045) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 465.35 377.75 Td (140,741) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 377.75 Td (5.69) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 377.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 363.75 Td (2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 349.90 364.75 Td (14,814) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 405.35 364.75 Td (106,714) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 465.35 364.75 Td (121,528) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 364.75 Td (6.32) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 364.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 350.75 Td (2020 to 2025) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 349.90 351.75 Td (36,830) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 405.35 351.75 Td (329,481) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 465.35 351.75 Td (366,311) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 351.75 Td (4.26) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 351.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 321.00 338.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 345.60 338.75 Td (137,327) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 381.00 338.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 405.60 338.75 Td (950,118) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 441.00 338.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 458.80 338.75 Td (1,087,445) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 338.75 Td (4.72) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.55 338.75 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 324.75 Td (Unamortized deferred financing costs, net) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 474.75 325.75 Td (6,363) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 311.75 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 441.00 312.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 458.80 312.75 Td (1,093,808) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 560.00 307.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 290.10 Td (The f) Tj ET Q q 0 0 0 rg BT 74.21 290.10 Td (ollo) Tj ET Q q 0 0 0 rg BT 89.30 290.10 Td (wing t) Tj ET Q q 0 0 0 rg BT 114.20 290.10 Td (able summariz) Tj ET Q q 0 0 0 rg BT 173.21 290.10 Td (es the de) Tj ET Q q 0 0 0 rg BT 210.37 290.10 Td (t) Tj ET Q q 0 0 0 rg BT 213.60 290.10 Td (ails of the Compan) Tj ET Q q 0 0 0 rg BT 289.28 290.10 Td (y) Tj ET Q q 0 0 0 rg BT 294.11 290.10 Td () Tj ET Q q 0 0 0 rg BT 296.00 290.10 Td (s cr) Tj ET Q q 0 0 0 rg BT 309.75 290.10 Td (edit f) Tj ET Q q 0 0 0 rg BT 330.74 290.10 Td (acilities as a) Tj ET Q q 0 0 0 rg BT 379.10 290.10 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.71 290.10 Td (Mar) Tj ET Q q 0 0 0 rg BT 401.39 290.10 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 448.30 290.10 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 279.6 m 199.5 279.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 252.60000000000002 m 199.5 252.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 199.5 279.6 m 249.5 279.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 199.5 252.60000000000002 m 249.5 252.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 249.5 279.6 m 299.5 279.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 249.5 252.60000000000002 m 299.5 252.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 279.6 m 349.5 279.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 299.5 252.60000000000002 m 349.5 252.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 279.6 m 399.5 279.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 349.5 252.60000000000002 m 399.5 252.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 279.6 m 471.5 279.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399.5 252.60000000000002 m 471.5 252.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 279.6 m 554.5 279.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 471.5 252.60000000000002 m 554.5 252.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 199.5 167.60000000000002 m 249.5 167.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 249.5 167.60000000000002 m 299.5 167.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 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Td (August 30, 2018) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 258.40 588.13 Td (5.25%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 309.90 588.13 Td (5.66%) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 390.60 588.13 Td (50,000) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 460.60 588.13 Td (49,541) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 530.70 588.13 Td (49,498) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 64.25 575.13 Td (K) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 82.00 575.13 Td (November 30, 2018) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 258.40 575.13 Td (4.95%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 309.90 575.13 Td (5.17%) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 386.30 575.13 Td (100,000) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 460.60 575.13 Td (99,273) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 530.70 575.13 Td (99,229) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 64.70 562.13 Td (L) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 82.00 562.13 Td (July 30, 2019) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 258.40 562.13 Td (5.48%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 309.90 562.13 Td (5.61%) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 386.30 562.13 Td (150,000) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 456.30 562.13 Td (149,267) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 526.40 562.13 Td (149,230) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 62.85 549.13 Td (M) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 82.00 549.13 Td (April 30, 2020) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 258.40 549.13 Td (5.60%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 309.90 549.13 Td (5.60%) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 386.30 549.13 Td (175,000) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 456.30 549.13 Td (174,984) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 526.40 549.13 Td (174,984) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 63.75 536.13 Td (N) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 82.00 536.13 Td (March 1, 2021) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 258.40 536.13 Td (4.50%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 309.90 536.13 Td (4.63%) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 386.30 536.13 Td (175,000) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 456.30 536.13 Td (173,875) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 526.40 536.13 Td (173,835) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 63.65 523.13 Td (O) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 82.00 523.13 Td (January 31, 2022) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 258.40 523.13 Td (4.43%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 309.90 523.13 Td (4.59%) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 386.30 523.13 Td (200,000) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 456.30 523.13 Td (198,147) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 526.40 523.13 Td (198,091) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 64.30 510.13 Td (P) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 82.00 510.13 Td (December 5, 2022) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 258.40 510.13 Td (3.95%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 309.90 510.13 Td (4.18%) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 386.30 510.13 Td (250,000) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 456.30 510.13 Td (246,327) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 526.40 510.13 Td (246,227) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 63.60 497.13 Td (Q) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 82.00 497.13 Td (October 30, 2023) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 258.40 497.13 Td (3.90%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 309.90 497.13 Td (3.97%) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 386.30 497.13 Td (300,000) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 456.30 497.13 Td (298,535) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 526.40 497.13 Td (298,499) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 64.15 484.13 Td (R) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 82.00 484.13 Td (August 30, 2024) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 258.40 484.13 Td (4.79%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 309.90 484.13 Td (4.72%) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 386.30 484.13 Td (300,000) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 456.30 484.13 Td (301,588) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 526.40 484.13 Td (301,622) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 64.50 471.13 Td (S) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 82.00 471.13 Td (July 31, 2025) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 258.40 471.13 Td (4.32%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 309.90 471.13 Td (4.24%) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 386.30 471.13 Td (300,000) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 456.30 471.13 Td (302,123) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 526.40 471.13 Td (208,589) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 82.00 458.50 Td (Weighted Average/Total) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 258.40 458.13 Td (4.70%) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 309.90 458.13 Td (4.77%) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 350.00 458.13 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 379.80 458.13 Td (2,250,000) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 420.00 458.13 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 449.80 458.13 Td (2,243,091) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 490.00 458.13 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 520.00 458.13 Td (2,149,174) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 433.50 Td (In) Tj ET Q q 0 0 0 rg BT 61.68 433.50 Td (t) Tj ET Q q 0 0 0 rg BT 64.92 433.50 Td (er) Tj ET Q q 0 0 0 rg BT 73.25 433.50 Td (es) Tj ET Q q 0 0 0 rg BT 82.03 433.50 Td (t on the senior unsecur) Tj ET Q q 0 0 0 rg BT 175.95 433.50 Td (ed deben) Tj ET Q q 0 0 0 rg BT 214.06 433.50 Td (tur) Tj ET Q q 0 0 0 rg BT 226.02 433.50 Td (es is pa) Tj ET Q q 0 0 0 rg BT 255.49 433.50 Td (y) Tj ET Q q 0 0 0 rg BT 259.87 433.50 Td (able semi-annually and principal is pa) Tj ET Q q 0 0 0 rg BT 411.69 433.50 Td (y) Tj ET Q q 0 0 0 rg BT 416.07 433.50 Td (able on ma) Tj ET Q q 0 0 0 rg BT 461.11 433.50 Td (turity) Tj ET Q q 0 0 0 rg BT 482.72 433.50 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 415.50 Td (On ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.14 415.50 Td (Januar) Tj ET Q q 0 0 0 rg BT 94.95 415.50 Td (y 26, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 136.90 415.50 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 191.20 415.50 Td (y c) Tj ET Q q 0 0 0 rg BT 202.13 415.50 Td (omple) Tj ET Q q 0 0 0 rg BT 227.87 415.50 Td (t) Tj ET Q q 0 0 0 rg BT 231.11 415.50 Td (ed the issuance of an additional ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 362.32 415.50 Td ($90.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.07 415.50 Td ( principal amoun) Tj ET Q q 0 0 0 rg BT 483.21 415.50 Td (t of the Series ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 541.75 415.50 Td (S) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.34 415.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 403.50 Td (senior unsecur) Tj ET Q q 0 0 0 rg BT 113.69 403.50 Td (ed deben) Tj ET Q q 0 0 0 rg BT 151.80 403.50 Td (tur) Tj ET Q q 0 0 0 rg BT 163.76 403.50 Td (es, which w) Tj ET Q q 0 0 0 rg BT 210.88 403.50 Td (as a r) Tj ET Q q 0 0 0 rg BT 232.24 403.50 Td (e-opening of this series of deben) Tj ET Q q 0 0 0 rg BT 365.23 403.50 Td (tur) Tj ET Q q 0 0 0 rg BT 377.19 403.50 Td (es. These deben) Tj ET Q q 0 0 0 rg BT 442.73 403.50 Td (tur) Tj ET Q q 0 0 0 rg BT 454.69 403.50 Td (es bear in) Tj ET Q q 0 0 0 rg BT 494.06 403.50 Td (t) Tj ET Q q 0 0 0 rg BT 497.30 403.50 Td (er) Tj ET Q q 0 0 0 rg BT 505.63 403.50 Td (es) Tj ET Q q 0 0 0 rg BT 514.41 403.50 Td (t a) Tj ET Q q 0 0 0 rg BT 524.71 403.50 Td (t a ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 391.50 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 391.50 Td (oupon r) Tj ET Q q 0 0 0 rg BT 90.00 391.50 Td (a) Tj ET Q q 0 0 0 rg BT 94.69 391.50 Td (t) Tj ET Q q 0 0 0 rg BT 97.94 391.50 Td (e of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 115.76 391.50 Td (4.32%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.64 391.50 Td ( per annum, pa) Tj ET Q q 0 0 0 rg BT 202.03 391.50 Td (y) Tj ET Q q 0 0 0 rg BT 206.40 391.50 Td (able semi-annually c) Tj ET Q q 0 0 0 rg BT 289.07 391.50 Td (ommencing July 31, 2015. ) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 362.70 Td (12) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 68.19 362.70 Td (. C) Tj ET Q q 0 0 0 rg BT 82.40 362.70 Td (ONVER) Tj ET Q q 0 0 0 rg BT 123.95 362.70 Td (TIBLE DEBENTURE) Tj ET Q q 0 0 0 rg BT 228.57 362.70 Td (S) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 346.20000000000005 m 83.5 346.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 331.20000000000005 m 83.5 331.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 83.5 346.20000000000005 m 239.5 346.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 83.5 331.20000000000005 m 239.5 331.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 239.5 346.20000000000005 m 281.5 346.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 239.5 331.20000000000005 m 281.5 331.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 346.20000000000005 m 323.5 346.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 281.5 331.20000000000005 m 323.5 331.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 346.20000000000005 m 361.5 346.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 323.5 331.20000000000005 m 361.5 331.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 346.20000000000005 m 399.5 346.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 361.5 331.20000000000005 m 399.5 331.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 346.20000000000005 m 436.5 346.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399.5 331.20000000000005 m 436.5 331.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 346.20000000000005 m 474.5 346.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 436.5 331.20000000000005 m 474.5 331.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 346.20000000000005 m 512.5 346.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 331.20000000000005 m 512.5 331.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 346.20000000000005 m 550.5 346.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 512.5 331.20000000000005 m 550.5 331.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 239.5 319.20000000000005 m 281.5 319.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 281.5 319.20000000000005 m 323.5 319.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 306.20000000000005 m 83.5 306.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 83.5 306.20000000000005 m 239.5 306.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 239.5 306.20000000000005 m 281.5 306.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 281.5 306.20000000000005 m 323.5 306.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 323.5 306.20000000000005 m 361.5 306.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 361.5 306.20000000000005 m 399.5 306.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399.5 306.20000000000005 m 436.5 306.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 436.5 306.20000000000005 m 474.5 306.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 306.20000000000005 m 512.5 306.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 512.5 306.20000000000005 m 550.5 306.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 215.20000000000005 m 83.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 83.5 215.20000000000005 m 239.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 239.5 215.20000000000005 m 281.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 323.5 215.20000000000005 m 361.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 361.5 215.20000000000005 m 399.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399.5 215.20000000000005 m 436.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 436.5 215.20000000000005 m 474.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 215.20000000000005 m 512.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 512.5 215.20000000000005 m 550.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 215.20000000000005 m 83.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 200.20000000000005 m 83.5 200.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 83.5 215.20000000000005 m 239.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 83.5 200.20000000000005 m 239.5 200.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 239.5 215.20000000000005 m 281.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 239.5 200.20000000000005 m 281.5 200.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 281.5 215.20000000000005 m 323.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 200.20000000000005 m 323.5 200.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 323.5 215.20000000000005 m 361.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 200.20000000000005 m 361.5 200.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 361.5 215.20000000000005 m 399.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 200.20000000000005 m 399.5 200.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399.5 215.20000000000005 m 436.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 200.20000000000005 m 436.5 200.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 436.5 215.20000000000005 m 474.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 200.20000000000005 m 474.5 200.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 215.20000000000005 m 512.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 200.20000000000005 m 512.5 200.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 512.5 215.20000000000005 m 550.5 215.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 200.20000000000005 m 550.5 200.20000000000005 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 335.70 Td (As at \(thousands of Canadian dollars, except other data\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.65 335.70 Td (March 31, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 483.40 335.70 Td (December 31, 2014) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 261.50 323.08 Td (Interest Rate) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 57.00 310.58 Td (Series) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 86.00 310.58 Td (Maturity Date) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 248.10 310.58 Td (Coupon) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 289.00 310.58 Td (Effective) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 330.90 310.58 Td (Principal) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 371.55 310.58 Td (Liability) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 413.40 310.58 Td (Equity) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 444.70 310.58 Td (Principal) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 485.50 310.58 Td (Liability) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 527.90 310.58 Td (Equity) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.00 297.70 Td (D) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 86.00 297.70 Td (June 30, 2017) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 250.00 297.70 Td (5.70%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 292.00 297.70 Td (6.88%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 326.00 297.70 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.15 297.70 Td (42,903) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.00 297.70 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.15 297.70 Td (41,860) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.00 297.70 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 421.30 297.70 Td (983) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 439.00 297.70 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 449.25 297.70 Td (42,903) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 477.00 297.70 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.25 297.70 Td (41,756) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 515.00 297.70 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 535.35 297.70 Td (983) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.50 284.70 Td (E) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 86.00 284.70 Td (January 31, 2019) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 250.00 284.70 Td (5.40%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 292.00 284.70 Td (6.90%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.15 284.70 Td (56,458) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.15 284.70 Td (53,636) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.20 284.70 Td (2,152) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 449.25 284.70 Td (56,593) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.25 284.70 Td (53,608) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 529.30 284.70 Td (2,158) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.65 271.70 Td (F) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 86.00 271.70 Td (January 31, 2019) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 250.00 271.70 Td (5.25%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 292.00 271.70 Td (6.07%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.15 271.70 Td (56,481) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.15 271.70 Td (54,926) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 421.30 271.70 Td (384) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 449.25 271.70 Td (56,549) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.25 271.70 Td (54,904) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 535.35 271.70 Td (384) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 65.95 258.70 Td (G) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 86.00 258.70 Td (March 31, 2018) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 250.00 258.70 Td (5.25%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 292.00 258.70 Td (6.66%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.15 258.70 Td (49,813) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.15 258.70 Td (47,929) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.20 258.70 Td (1,151) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 449.25 258.70 Td (49,927) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.25 258.70 Td (47,900) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 529.30 258.70 Td (1,154) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 66.00 245.70 Td (H) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 86.00 245.70 Td (March 31, 2017) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 250.00 245.70 Td (4.95%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 292.00 245.70 Td (6.51%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.15 245.70 Td (72,321) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.15 245.70 Td (70,233) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.20 245.70 Td (1,442) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 449.25 245.70 Td (72,561) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.25 245.70 Td (70,228) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 529.30 245.70 Td (1,446) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 67.45 232.70 Td (I) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 86.00 232.70 Td (July 31, 2019) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 250.00 232.70 Td (4.75%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 292.00 232.70 Td (6.19%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.15 232.70 Td (52,220) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.15 232.70 Td (49,718) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.20 232.70 Td (1,431) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 449.25 232.70 Td (52,500) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.25 232.70 Td (49,841) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 529.30 232.70 Td (1,439) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 67.20 219.70 Td (J) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 86.00 219.70 Td (February 28, 2020) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 250.00 219.70 Td (4.45%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 292.00 219.70 Td (5.34%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.15 219.70 Td (56,669) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.15 219.70 Td (54,681) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 421.30 219.70 Td (397) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 449.25 219.70 Td (57,141) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.25 219.70 Td (55,040) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 535.35 219.70 Td (400) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 86.00 204.70 Td (Weighted Average/Total) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 250.00 204.70 Td (5.08%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 292.00 204.70 Td (6.35%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 326.00 204.70 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.10 204.70 Td (386,865) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.00 204.70 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 370.10 204.70 Td (372,983) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.00 204.70 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.20 204.70 Td (7,940) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 439.00 204.70 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 445.20 204.70 Td (388,174) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 477.00 204.70 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 483.20 204.70 Td (373,277) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 515.00 204.70 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 529.30 204.70 Td (7,964) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 180.35 Td (\(a\) Principal and in) Tj ET Q q 0 0 0 rg BT 146.94 180.35 Td (t) Tj ET Q q 0 0 0 rg BT 150.95 180.35 Td (er) Tj ET Q q 0 0 0 rg BT 161.12 180.35 Td (es) Tj ET Q q 0 0 0 rg BT 171.81 180.35 Td (t) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 165.30 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 165.30 Td (y has the op) Tj ET Q q 0 0 0 rg BT 154.40 165.30 Td (tion of r) Tj ET Q q 0 0 0 rg BT 186.77 165.30 Td (epa) Tj ET Q q 0 0 0 rg BT 201.60 165.30 Td (ying the c) Tj ET Q q 0 0 0 rg BT 240.63 165.30 Td (on) Tj ET Q q 0 0 0 rg BT 250.99 165.30 Td (v) Tj ET Q q 0 0 0 rg BT 255.41 165.30 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 309.92 165.30 Td (tur) Tj ET Q q 0 0 0 rg BT 321.88 165.30 Td (es on ma) Tj ET Q q 0 0 0 rg BT 358.50 165.30 Td (turity thr) Tj ET Q q 0 0 0 rg BT 394.95 165.30 Td (ough the issuance of c) Tj ET Q q 0 0 0 rg BT 485.15 165.30 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 536.50 165.30 Td (es ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 153.30 Td (a) Tj ET Q q 0 0 0 rg BT 58.70 153.30 Td (t 97% of the 20-da) Tj ET Q q 0 0 0 rg BT 133.34 153.30 Td (y v) Tj ET Q q 0 0 0 rg BT 144.55 153.30 Td (olume w) Tj ET Q q 0 0 0 rg BT 179.65 153.30 Td (eigh) Tj ET Q q 0 0 0 rg BT 196.79 153.30 Td (t) Tj ET Q q 0 0 0 rg BT 200.04 153.30 Td (ed a) Tj ET Q q 0 0 0 rg BT 217.15 153.30 Td (v) Tj ET Q q 0 0 0 rg BT 221.57 153.30 Td (er) Tj ET Q q 0 0 0 rg BT 229.83 153.30 Td (ag) Tj ET Q q 0 0 0 rg BT 239.24 153.30 Td (e tr) Tj ET Q q 0 0 0 rg BT 253.11 153.30 Td (ading price of the Compan) Tj ET Q q 0 0 0 rg BT 360.30 153.30 Td (y) Tj ET Q q 0 0 0 rg BT 365.13 153.30 Td () Tj ET Q q 0 0 0 rg BT 367.01 153.30 Td (s c) Tj ET Q q 0 0 0 rg BT 377.33 153.30 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 428.68 153.30 Td (es ending fiv) Tj ET Q q 0 0 0 rg BT 479.59 153.30 Td (e da) Tj ET Q q 0 0 0 rg BT 496.69 153.30 Td (y) Tj ET Q q 0 0 0 rg BT 501.12 153.30 Td (s prior t) Tj ET Q q 0 0 0 rg BT 532.60 153.30 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 141.30 Td (ma) Tj ET Q q 0 0 0 rg BT 66.69 141.30 Td (turity da) Tj ET Q q 0 0 0 rg BT 101.16 141.30 Td (t) Tj ET Q q 0 0 0 rg BT 104.40 141.30 Td (e. The Compan) Tj ET Q q 0 0 0 rg BT 165.23 141.30 Td (y also has the op) Tj ET Q q 0 0 0 rg BT 233.09 141.30 Td (tion of pa) Tj ET Q q 0 0 0 rg BT 271.96 141.30 Td (ying the semi-annual in) Tj ET Q q 0 0 0 rg BT 366.43 141.30 Td (t) Tj ET Q q 0 0 0 rg BT 369.67 141.30 Td (er) Tj ET Q q 0 0 0 rg BT 378.00 141.30 Td (es) Tj ET Q q 0 0 0 rg BT 386.78 141.30 Td (t thr) Tj ET Q q 0 0 0 rg BT 404.32 141.30 Td (ough the issuance of c) Tj ET Q q 0 0 0 rg BT 494.52 141.30 Td (ommon ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 129.30 Td (shar) Tj ET Q q 0 0 0 rg BT 71.31 129.30 Td (es. In addition, the Compan) Tj ET Q q 0 0 0 rg BT 183.08 129.30 Td (y has the op) Tj ET Q q 0 0 0 rg BT 232.41 129.30 Td (tion of r) Tj ET Q q 0 0 0 rg BT 264.78 129.30 Td (epa) Tj ET Q q 0 0 0 rg BT 279.62 129.30 Td (ying the c) Tj ET Q q 0 0 0 rg BT 318.64 129.30 Td (on) Tj ET Q q 0 0 0 rg BT 329.00 129.30 Td (v) Tj ET Q q 0 0 0 rg BT 333.42 129.30 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 387.94 129.30 Td (tur) Tj ET Q q 0 0 0 rg BT 399.89 129.30 Td (es prior t) Tj ET Q q 0 0 0 rg BT 436.35 129.30 Td (o the ma) Tj ET Q q 0 0 0 rg BT 472.41 129.30 Td (turity da) Tj ET Q q 0 0 0 rg BT 506.88 129.30 Td (t) Tj ET Q q 0 0 0 rg BT 510.12 129.30 Td (e under ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 117.30 Td (cert) Tj ET Q q 0 0 0 rg BT 69.92 117.30 Td (ain cir) Tj ET Q q 0 0 0 rg BT 94.38 117.30 Td (cums) Tj ET Q q 0 0 0 rg BT 115.65 117.30 Td (t) Tj ET Q q 0 0 0 rg BT 118.88 117.30 Td (ances, either in c) Tj ET Q q 0 0 0 rg BT 187.34 117.30 Td (ash or in c) Tj ET Q q 0 0 0 rg BT 228.54 117.30 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 279.88 117.30 Td (es. It is the Compan) Tj ET Q q 0 0 0 rg BT 359.70 117.30 Td (y) Tj ET Q q 0 0 0 rg BT 364.53 117.30 Td () Tj ET Q q 0 0 0 rg BT 366.41 117.30 Td (s curr) Tj ET Q q 0 0 0 rg BT 388.91 117.30 Td (en) Tj ET Q q 0 0 0 rg BT 399.04 117.30 Td (t in) Tj ET Q q 0 0 0 rg BT 412.11 117.30 Td (t) Tj ET Q q 0 0 0 rg BT 415.35 117.30 Td (en) Tj ET Q q 0 0 0 rg BT 425.49 117.30 Td (tion t) Tj ET Q q 0 0 0 rg BT 447.17 117.30 Td (o c) Tj ET Q q 0 0 0 rg BT 458.85 117.30 Td (on) Tj ET Q q 0 0 0 rg BT 469.29 117.30 Td (tinue t) Tj ET Q q 0 0 0 rg BT 495.93 117.30 Td (o sa) Tj ET Q q 0 0 0 rg BT 512.07 117.30 Td (tis) Tj ET Q q 0 0 0 rg BT 521.53 117.30 Td (f) Tj ET Q q 0 0 0 rg BT 524.63 117.30 Td (y its ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 105.30 Td (oblig) Tj ET Q q 0 0 0 rg BT 73.64 105.30 Td (a) Tj ET Q q 0 0 0 rg BT 78.34 105.30 Td (tions of principal and in) Tj ET Q q 0 0 0 rg BT 173.69 105.30 Td (t) Tj ET Q q 0 0 0 rg BT 176.93 105.30 Td (er) Tj ET Q q 0 0 0 rg BT 185.26 105.30 Td (es) Tj ET Q q 0 0 0 rg BT 194.04 105.30 Td (t pa) Tj ET Q q 0 0 0 rg BT 209.51 105.30 Td (ymen) Tj ET Q q 0 0 0 rg BT 232.16 105.30 Td (ts in r) Tj ET Q q 0 0 0 rg BT 254.84 105.30 Td (espect of all of its outs) Tj ET Q q 0 0 0 rg BT 346.10 105.30 Td (t) Tj ET Q q 0 0 0 rg BT 349.33 105.30 Td (anding c) Tj ET Q q 0 0 0 rg BT 383.29 105.30 Td (on) Tj ET Q q 0 0 0 rg BT 393.65 105.30 Td (v) Tj ET Q q 0 0 0 rg BT 398.07 105.30 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 452.58 105.30 Td (tur) Tj ET Q q 0 0 0 rg BT 464.54 105.30 Td (es b) Tj ET Q q 0 0 0 rg BT 480.89 105.30 Td (y the issuance of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 93.30 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 93.30 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 109.49 93.30 Td (es. Since issuance, the Compan) Tj ET Q q 0 0 0 rg BT 235.69 93.30 Td (y has made all principal and in) Tj ET Q q 0 0 0 rg BT 358.03 93.30 Td (t) Tj ET Q q 0 0 0 rg BT 361.28 93.30 Td (er) Tj ET Q q 0 0 0 rg BT 369.61 93.30 Td (es) Tj ET Q q 0 0 0 rg BT 378.38 93.30 Td (t pa) Tj ET Q q 0 0 0 rg BT 393.85 93.30 Td (ymen) Tj ET Q q 0 0 0 rg BT 416.50 93.30 Td (ts on its c) Tj ET Q q 0 0 0 rg BT 454.77 93.30 Td (on) Tj ET Q q 0 0 0 rg BT 465.13 93.30 Td (v) Tj ET Q q 0 0 0 rg BT 469.55 93.30 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 524.06 93.30 Td (tur) Tj ET Q q 0 0 0 rg BT 536.02 93.30 Td (es ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 81.30 Td (using c) Tj ET Q q 0 0 0 rg BT 81.83 81.30 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 133.17 81.30 Td (es.) Tj ET Q endstream endobj 147 0 obj <> endobj 148 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (72) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 694.50 Td (During the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.25 694.50 Td (thr) Tj ET Q q 0 0 0 rg BT 111.21 694.50 Td (ee mon) Tj ET Q q 0 0 0 rg BT 141.84 694.50 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 201.27 694.50 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.18 694.50 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 252.94 694.50 Td (0.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 295.55 694.50 Td ( c) Tj ET Q q 0 0 0 rg BT 301.96 694.50 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 353.31 694.50 Td (es \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 367.49 694.50 Td (thr) Tj ET Q q 0 0 0 rg BT 379.44 694.50 Td (ee mon) Tj ET Q q 0 0 0 rg BT 410.08 694.50 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 469.51 694.50 Td (ch 31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 516.42 694.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 682.50 Td (0.6 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 96.62 682.50 Td ( c) Tj ET Q q 0 0 0 rg BT 103.02 682.50 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 154.37 682.50 Td (es\) w) Tj ET Q q 0 0 0 rg BT 175.61 682.50 Td (er) Tj ET Q q 0 0 0 rg BT 183.94 682.50 Td (e issued f) Tj ET Q q 0 0 0 rg BT 221.88 682.50 Td (or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 232.90 682.50 Td ($9.8 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 280.59 682.50 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 285.88 682.50 Td (thr) Tj ET Q q 0 0 0 rg BT 297.84 682.50 Td (ee mon) Tj ET Q q 0 0 0 rg BT 328.47 682.50 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 387.90 682.50 Td (ch 31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.81 682.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 444.31 682.50 Td ($10.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 497.07 682.50 Td (\) t) Tj ET Q q 0 0 0 rg BT 505.61 682.50 Td (o pa) Tj ET Q q 0 0 0 rg BT 523.00 682.50 Td (y ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 670.50 Td (in) Tj ET Q q 0 0 0 rg BT 61.46 670.50 Td (t) Tj ET Q q 0 0 0 rg BT 64.70 670.50 Td (er) Tj ET Q q 0 0 0 rg BT 73.03 670.50 Td (es) Tj ET Q q 0 0 0 rg BT 81.80 670.50 Td (t t) Tj ET Q q 0 0 0 rg BT 90.67 670.50 Td (o holder) Tj ET Q q 0 0 0 rg BT 124.57 670.50 Td (s of the c) Tj ET Q q 0 0 0 rg BT 161.31 670.50 Td (on) Tj ET Q q 0 0 0 rg BT 171.67 670.50 Td (v) Tj ET Q q 0 0 0 rg BT 176.09 670.50 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 230.60 670.50 Td (tur) Tj ET Q q 0 0 0 rg BT 242.56 670.50 Td (es. E) Tj ET Q q 0 0 0 rg BT 260.95 670.50 Td (ach series of the Compan) Tj ET Q q 0 0 0 rg BT 363.43 670.50 Td (y) Tj ET Q q 0 0 0 rg BT 368.26 670.50 Td () Tj ET Q q 0 0 0 rg BT 370.14 670.50 Td (s c) Tj ET Q q 0 0 0 rg BT 380.46 670.50 Td (on) Tj ET Q q 0 0 0 rg BT 390.82 670.50 Td (v) Tj ET Q q 0 0 0 rg BT 395.24 670.50 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 449.75 670.50 Td (tur) Tj ET Q q 0 0 0 rg BT 461.71 670.50 Td (es bear) Tj ET Q q 0 0 0 rg BT 491.19 670.50 Td (s in) Tj ET Q q 0 0 0 rg BT 504.82 670.50 Td (t) Tj ET Q q 0 0 0 rg BT 508.06 670.50 Td (er) Tj ET Q q 0 0 0 rg BT 516.39 670.50 Td (es) Tj ET Q q 0 0 0 rg BT 525.17 670.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 658.50 Td (pa) Tj ET Q q 0 0 0 rg BT 63.86 658.50 Td (y) Tj ET Q q 0 0 0 rg BT 68.23 658.50 Td (able semi-annually and is c) Tj ET Q q 0 0 0 rg BT 176.93 658.50 Td (on) Tj ET Q q 0 0 0 rg BT 187.29 658.50 Td (v) Tj ET Q q 0 0 0 rg BT 191.71 658.50 Td (ertible a) Tj ET Q q 0 0 0 rg BT 225.30 658.50 Td (t the op) Tj ET Q q 0 0 0 rg BT 257.23 658.50 Td (tion of the holder) Tj ET Q q 0 0 0 rg BT 328.46 658.50 Td (s in the c) Tj ET Q q 0 0 0 rg BT 364.42 658.50 Td (on) Tj ET Q q 0 0 0 rg BT 374.79 658.50 Td (v) Tj ET Q q 0 0 0 rg BT 379.21 658.50 Td (er) Tj ET Q q 0 0 0 rg BT 387.50 658.50 Td (sion periods in) Tj ET Q q 0 0 0 rg BT 446.66 658.50 Td (t) Tj ET Q q 0 0 0 rg BT 449.91 658.50 Td (o c) Tj ET Q q 0 0 0 rg BT 461.59 658.50 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 512.94 658.50 Td (es ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 646.50 Td (of the Compan) Tj ET Q q 0 0 0 rg BT 114.13 646.50 Td (y a) Tj ET Q q 0 0 0 rg BT 125.62 646.50 Td (t the c) Tj ET Q q 0 0 0 rg BT 151.21 646.50 Td (on) Tj ET Q q 0 0 0 rg BT 161.57 646.50 Td (v) Tj ET Q q 0 0 0 rg BT 165.99 646.50 Td (er) Tj ET Q q 0 0 0 rg BT 174.28 646.50 Td (sion prices indic) Tj ET Q q 0 0 0 rg BT 238.93 646.50 Td (a) Tj ET Q q 0 0 0 rg BT 243.63 646.50 Td (t) Tj ET Q q 0 0 0 rg BT 246.87 646.50 Td (ed belo) Tj ET Q q 0 0 0 rg BT 277.12 646.50 Td (w) Tj ET Q q 0 0 0 rg BT 283.63 646.50 Td (.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 630 m 119.5 630 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 603 m 119.5 603 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 119.5 630 m 155.5 630 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 119.5 603 m 155.5 603 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 155.5 630 m 201.5 630 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 155.5 603 m 201.5 603 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 201.5 630 m 259.5 630 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 201.5 603 m 259.5 603 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 630 m 366.5 630 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 259.5 603 m 366.5 603 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 630 m 476.5 630 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366.5 603 m 476.5 603 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 630 m 534.5 630 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 476.5 603 m 534.5 603 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 630 m 548.5 630 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 534.5 603 m 548.5 603 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 510 m 119.5 510 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 119.5 510 m 155.5 510 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 155.5 510 m 201.5 510 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 201.5 510 m 259.5 510 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 510 m 366.5 510 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 510 m 476.5 510 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 510 m 534.5 510 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534.5 510 m 548.5 510 l s BT /F3 7.00 Tf ET q 0 0 0 rg BT 57.00 614.25 Td (Ma) Tj ET Q q 0 0 0 rg BT 66.27 614.25 Td (turity) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 57.00 607.25 Td (Da) Tj ET Q q 0 0 0 rg BT 64.59 607.25 Td (t) Tj ET Q q 0 0 0 rg BT 66.86 607.25 Td (e) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 129.85 614.25 Td (Coupon) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 139.15 607.25 Td (Ra) Tj ET Q q 0 0 0 rg BT 146.24 607.25 Td (t) Tj ET Q q 0 0 0 rg BT 148.51 607.25 Td (e) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 172.90 607.25 Td (TSX) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 206.00 621.25 Td (Holder Option to) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 209.65 614.25 Td (Convert at the) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 206.35 607.25 Td (Conversion Price) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 268.65 614.25 Td (Compan) Tj ET Q q 0 0 0 rg BT 292.24 614.25 Td (y Op) Tj ET Q q 0 0 0 rg BT 305.28 614.25 Td (tion t) Tj ET Q q 0 0 0 rg BT 320.46 614.25 Td (o R) Tj ET Q q 0 0 0 rg BT 329.41 614.25 Td (edeem a) Tj ET Q q 0 0 0 rg BT 354.00 614.25 Td (t ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 265.75 607.25 Td (Principal Amoun) Tj ET Q q 0 0 0 rg BT 312.50 607.25 Td (t \(c) Tj ET Q q 0 0 0 rg BT 321.45 607.25 Td (onditional ) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 351.97 610.59 Td (\(1\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 357.03 607.25 Td (\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 380.75 614.25 Td (Compan) Tj ET Q q 0 0 0 rg BT 404.34 614.25 Td (y Op) Tj ET Q q 0 0 0 rg BT 417.38 614.25 Td (tion t) Tj ET Q q 0 0 0 rg BT 432.56 614.25 Td (o R) Tj ET Q q 0 0 0 rg BT 441.51 614.25 Td (edeem ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 389.50 607.25 Td (a) Tj ET Q q 0 0 0 rg BT 392.79 607.25 Td (t Principal Amoun) Tj ET Q q 0 0 0 rg BT 443.47 607.25 Td (t ) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 447.39 610.59 Td (\(2\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 481.35 607.25 Td (Conversion Price) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 59.00 592.88 Td (June 30, 2017) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 133.15 592.88 Td (5.70%) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 167.70 592.88 Td (FCR.DB.D) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 219.10 592.88 Td (2009-2016) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 272.80 592.88 Td (Jun 30, 2013 - Jun 29, 2015) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 385.30 592.88 Td (Jun 30, 2015 - Jun 30, 2017) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 497.55 592.88 Td ($18.75) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 59.00 579.88 Td (January 31, 2019) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 133.15 579.88 Td (5.40%) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 168.15 579.88 Td (FCR.DB.E) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 219.10 579.88 Td (2011-2019) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 273.15 579.88 Td (Jan 31, 2015 - Jan 30, 2017) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 385.65 579.88 Td (Jan 31, 2017 - Jan 31, 2019) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 497.55 579.88 Td ($22.62) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 59.00 566.88 Td (January 31, 2019) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 133.15 566.88 Td (5.25%) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 168.25 566.88 Td (FCR.DB.F) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 219.10 566.88 Td (2011-2019) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 273.15 566.88 Td (Jan 31, 2015 - Jan 30, 2017) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 385.65 566.88 Td (Jan 31, 2017 - Jan 31, 2019) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 497.55 566.88 Td ($23.77) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 59.00 553.88 Td (March 31, 2018) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 133.15 553.88 Td (5.25%) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 167.70 553.88 Td (FCR.DB.G) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 219.10 553.88 Td (2011-2018) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 270.45 553.88 Td (Mar 31, 2015 - Mar 30, 2016) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 382.95 553.88 Td (Mar 31, 2016 - Mar 30, 2018) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 497.55 553.88 Td ($23.25) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 59.00 540.88 Td (March 31, 2017) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 133.15 540.88 Td (4.95%) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 167.65 540.88 Td (FCR.DB.H) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 219.10 540.88 Td (2012-2017) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 270.45 540.88 Td (Mar 31, 2015 - Mar 30, 2016) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 382.95 540.88 Td (Mar 31, 2016 - Mar 31, 2017) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 497.55 540.88 Td ($23.75) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 59.00 527.88 Td (July 31, 2019) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 133.15 527.88 Td (4.75%) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 169.05 527.88 Td (FCR.DB.I) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 219.10 527.88 Td (2012-2019) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 275.00 527.88 Td (Jul 31, 2015 - Jul 30, 2017) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 387.50 527.88 Td (Jul 31, 2017 - Jul 31, 2019) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 482.95 529.38 Td ($26.75-$27.75) Tj ET Q BT /F3 4.87 Tf ET q 0 0 0 rg BT 537.00 533.39 Td (\(3\)) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 59.00 514.88 Td (February 28, 2020) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 133.15 514.88 Td (4.45%) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 168.75 514.88 Td (FCR.DB.J) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 219.10 514.88 Td (2013-2020) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 272.05 514.88 Td (Feb 28, 2016 - Feb 27, 2018) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 384.55 514.88 Td (Feb 28, 2018 - Feb 28, 2020) Tj ET Q BT /F3 7.50 Tf ET q 0 0 0 rg BT 482.95 514.38 Td ($26.75-$27.75) Tj ET Q BT /F3 4.87 Tf ET q 0 0 0 rg BT 537.00 518.39 Td (\(4\)) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 502.44 Td (\(1\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 499.10 Td (P) Tj ET Q q 0 0 0 rg BT 66.48 499.10 Td (eriod of time during which the Compan) Tj ET Q q 0 0 0 rg BT 178.12 499.10 Td (y ma) Tj ET Q q 0 0 0 rg BT 191.69 499.10 Td (y r) Tj ET Q q 0 0 0 rg BT 198.79 499.10 Td (edeem the deben) Tj ET Q q 0 0 0 rg BT 249.11 499.10 Td (tur) Tj ET Q q 0 0 0 rg BT 257.48 499.10 Td (es a) Tj ET Q q 0 0 0 rg BT 268.57 499.10 Td (t their principal amoun) Tj ET Q q 0 0 0 rg BT 333.75 499.10 Td (t plus accrued and unpaid in) Tj ET Q q 0 0 0 rg BT 413.86 499.10 Td (t) Tj ET Q q 0 0 0 rg BT 416.13 499.10 Td (er) Tj ET Q q 0 0 0 rg BT 421.96 499.10 Td (es) Tj ET Q q 0 0 0 rg BT 428.10 499.10 Td (t, pr) Tj ET Q q 0 0 0 rg BT 439.78 499.10 Td (o) Tj ET Q q 0 0 0 rg BT 443.44 499.10 Td (vided tha) Tj ET Q q 0 0 0 rg BT 469.94 499.10 Td (t the v) Tj ET Q q 0 0 0 rg BT 488.05 499.10 Td (olume w) Tj ET Q q 0 0 0 rg BT 512.63 499.10 Td (eigh) Tj ET Q q 0 0 0 rg BT 524.62 499.10 Td (t) Tj ET Q q 0 0 0 rg BT 526.89 499.10 Td (ed ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 490.75 Td (a) Tj ET Q q 0 0 0 rg BT 66.24 490.75 Td (v) Tj ET Q q 0 0 0 rg BT 69.33 490.75 Td (er) Tj ET Q q 0 0 0 rg BT 75.11 490.75 Td (ag) Tj ET Q q 0 0 0 rg BT 81.70 490.75 Td (e tr) Tj ET Q q 0 0 0 rg BT 91.41 490.75 Td (ading price f) Tj ET Q q 0 0 0 rg BT 126.34 490.75 Td (or the 20 c) Tj ET Q q 0 0 0 rg BT 156.72 490.75 Td (onsecutiv) Tj ET Q q 0 0 0 rg BT 183.99 490.75 Td (e tr) Tj ET Q q 0 0 0 rg BT 193.70 490.75 Td (ading da) Tj ET Q q 0 0 0 rg BT 217.79 490.75 Td (y) Tj ET Q q 0 0 0 rg BT 220.90 490.75 Td (s ending fiv) Tj ET Q q 0 0 0 rg BT 253.05 490.75 Td (e da) Tj ET Q q 0 0 0 rg BT 265.02 490.75 Td (y) Tj ET Q q 0 0 0 rg BT 268.12 490.75 Td (s prior t) Tj ET Q q 0 0 0 rg BT 290.16 490.75 Td (o the notice of r) Tj ET Q q 0 0 0 rg BT 335.62 490.75 Td (edemp) Tj ET Q q 0 0 0 rg BT 355.51 490.75 Td (tion is not less than 125% of the Con) Tj ET Q q 0 0 0 rg BT 459.13 490.75 Td (v) Tj ET Q q 0 0 0 rg BT 462.22 490.75 Td (er) Tj ET Q q 0 0 0 rg BT 468.03 490.75 Td (sion Price, b) Tj ET Q q 0 0 0 rg BT 502.40 490.75 Td (y giving ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 482.30 Td (be) Tj ET Q q 0 0 0 rg BT 70.12 482.30 Td (tw) Tj ET Q q 0 0 0 rg BT 77.41 482.30 Td (een 30 and 60 da) Tj ET Q q 0 0 0 rg BT 126.18 482.30 Td (y) Tj ET Q q 0 0 0 rg BT 129.29 482.30 Td (s' writ) Tj ET Q q 0 0 0 rg BT 146.45 482.30 Td (t) Tj ET Q q 0 0 0 rg BT 148.72 482.30 Td (en notice.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 474.24 Td (\(2\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 470.90 Td (P) Tj ET Q q 0 0 0 rg BT 66.48 470.90 Td (eriod of time during which the Compan) Tj ET Q q 0 0 0 rg BT 178.12 470.90 Td (y ma) Tj ET Q q 0 0 0 rg BT 191.69 470.90 Td (y r) Tj ET Q q 0 0 0 rg BT 198.79 470.90 Td (edeem the deben) Tj ET Q q 0 0 0 rg BT 249.11 470.90 Td (tur) Tj ET Q q 0 0 0 rg BT 257.48 470.90 Td (es a) Tj ET Q q 0 0 0 rg BT 268.57 470.90 Td (t their principal amoun) Tj ET Q q 0 0 0 rg BT 333.75 470.90 Td (t plus accrued and unpaid in) Tj ET Q q 0 0 0 rg BT 413.86 470.90 Td (t) Tj ET Q q 0 0 0 rg BT 416.13 470.90 Td (er) Tj ET Q q 0 0 0 rg BT 421.96 470.90 Td (es) Tj ET Q q 0 0 0 rg BT 428.10 470.90 Td (t b) Tj ET Q q 0 0 0 rg BT 435.67 470.90 Td (y giving be) Tj ET Q q 0 0 0 rg BT 465.77 470.90 Td (tw) Tj ET Q q 0 0 0 rg BT 473.06 470.90 Td (een 30 and 60 da) Tj ET Q q 0 0 0 rg BT 521.83 470.90 Td (y) Tj ET Q q 0 0 0 rg BT 524.94 470.90 Td (s' ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 462.50 Td (writ) Tj ET Q q 0 0 0 rg BT 74.30 462.50 Td (t) Tj ET Q q 0 0 0 rg BT 76.57 462.50 Td (en notice.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 454.44 Td (\(3\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 451.10 Td (These deben) Tj ET Q q 0 0 0 rg BT 99.31 451.10 Td (tur) Tj ET Q q 0 0 0 rg BT 107.68 451.10 Td (es ar) Tj ET Q q 0 0 0 rg BT 121.18 451.10 Td (e c) Tj ET Q q 0 0 0 rg BT 129.15 451.10 Td (on) Tj ET Q q 0 0 0 rg BT 136.40 451.10 Td (v) Tj ET Q q 0 0 0 rg BT 139.50 451.10 Td (ertible a) Tj ET Q q 0 0 0 rg BT 163.01 451.10 Td (t the op) Tj ET Q q 0 0 0 rg BT 185.36 451.10 Td (tion of the holder in) Tj ET Q q 0 0 0 rg BT 242.14 451.10 Td (t) Tj ET Q q 0 0 0 rg BT 244.42 451.10 Td (o c) Tj ET Q q 0 0 0 rg BT 252.59 451.10 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 288.54 451.10 Td (es of the Compan) Tj ET Q q 0 0 0 rg BT 338.43 451.10 Td (y a) Tj ET Q q 0 0 0 rg BT 346.47 451.10 Td (t a c) Tj ET Q q 0 0 0 rg BT 358.24 451.10 Td (on) Tj ET Q q 0 0 0 rg BT 365.49 451.10 Td (v) Tj ET Q q 0 0 0 rg BT 368.58 451.10 Td (er) Tj ET Q q 0 0 0 rg BT 374.39 451.10 Td (sion price of $26.75 per c) Tj ET Q q 0 0 0 rg BT 446.02 451.10 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 481.96 451.10 Td (e un) Tj ET Q q 0 0 0 rg BT 494.32 451.10 Td (til July 31, 2017 ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 442.70 Td (and $27.75 per c) Tj ET Q q 0 0 0 rg BT 110.47 442.70 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 146.41 442.70 Td (e ther) Tj ET Q q 0 0 0 rg BT 163.33 442.70 Td (ea) Tj ET Q q 0 0 0 rg BT 170.12 442.70 Td (ft) Tj ET Q q 0 0 0 rg BT 174.53 442.70 Td (er) Tj ET Q q 0 0 0 rg BT 179.75 442.70 Td (.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 434.64 Td (\(4\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 431.30 Td (These deben) Tj ET Q q 0 0 0 rg BT 99.31 431.30 Td (tur) Tj ET Q q 0 0 0 rg BT 107.68 431.30 Td (es ar) Tj ET Q q 0 0 0 rg BT 121.18 431.30 Td (e c) Tj ET Q q 0 0 0 rg BT 129.15 431.30 Td (on) Tj ET Q q 0 0 0 rg BT 136.40 431.30 Td (v) Tj ET Q q 0 0 0 rg BT 139.50 431.30 Td (ertible a) Tj ET Q q 0 0 0 rg BT 163.01 431.30 Td (t the op) Tj ET Q q 0 0 0 rg BT 185.36 431.30 Td (tion of the holder in) Tj ET Q q 0 0 0 rg BT 242.14 431.30 Td (t) Tj ET Q q 0 0 0 rg BT 244.42 431.30 Td (o c) Tj ET Q q 0 0 0 rg BT 252.59 431.30 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 288.54 431.30 Td (es of the Compan) Tj ET Q q 0 0 0 rg BT 338.43 431.30 Td (y a) Tj ET Q q 0 0 0 rg BT 346.47 431.30 Td (t a c) Tj ET Q q 0 0 0 rg BT 358.24 431.30 Td (on) Tj ET Q q 0 0 0 rg BT 365.49 431.30 Td (v) Tj ET Q q 0 0 0 rg BT 368.58 431.30 Td (er) Tj ET Q q 0 0 0 rg BT 374.39 431.30 Td (sion price of $26.75 per c) Tj ET Q q 0 0 0 rg BT 446.02 431.30 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 481.96 431.30 Td (e un) Tj ET Q q 0 0 0 rg BT 494.32 431.30 Td (til ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 422.95 Td (F) Tj ET Q q 0 0 0 rg BT 66.11 422.95 Td (ebruar) Tj ET Q q 0 0 0 rg BT 85.22 422.95 Td (y 28, 2018 and $27.75 per c) Tj ET Q q 0 0 0 rg BT 163.64 422.95 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 199.58 422.95 Td (e ther) Tj ET Q q 0 0 0 rg BT 216.50 422.95 Td (ea) Tj ET Q q 0 0 0 rg BT 223.29 422.95 Td (ft) Tj ET Q q 0 0 0 rg BT 227.70 422.95 Td (er) Tj ET Q q 0 0 0 rg BT 232.92 422.95 Td (.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 402.55 Td (\(b\) Normal c) Tj ET Q q 0 0 0 rg BT 115.56 402.55 Td (our) Tj ET Q q 0 0 0 rg BT 132.57 402.55 Td (se issuer bid) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 387.55 Td (On Augus) Tj ET Q q 0 0 0 rg BT 92.94 387.55 Td (t27, 2014, the Compan) Tj ET Q q 0 0 0 rg BT 188.01 387.55 Td (y r) Tj ET Q q 0 0 0 rg BT 198.16 387.55 Td (ene) Tj ET Q q 0 0 0 rg BT 213.31 387.55 Td (w) Tj ET Q q 0 0 0 rg BT 220.37 387.55 Td (ed its normal c) Tj ET Q q 0 0 0 rg BT 280.17 387.55 Td (our) Tj ET Q q 0 0 0 rg BT 294.01 387.55 Td (se issuer bid \(NCIB\) f) Tj ET Q q 0 0 0 rg BT 385.60 387.55 Td (or all of its then outs) Tj ET Q q 0 0 0 rg BT 469.43 387.55 Td (t) Tj ET Q q 0 0 0 rg BT 472.66 387.55 Td (anding series of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 375.55 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 375.55 Td (on) Tj ET Q q 0 0 0 rg BT 68.51 375.55 Td (v) Tj ET Q q 0 0 0 rg BT 72.93 375.55 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 127.44 375.55 Td (tur) Tj ET Q q 0 0 0 rg BT 139.40 375.55 Td (es. The NCIB will e) Tj ET Q q 0 0 0 rg BT 213.56 375.55 Td (xpir) Tj ET Q q 0 0 0 rg BT 228.79 375.55 Td (e on Augus) Tj ET Q q 0 0 0 rg BT 273.61 375.55 Td (t26, 2015 or such earlier da) Tj ET Q q 0 0 0 rg BT 387.10 375.55 Td (t) Tj ET Q q 0 0 0 rg BT 390.34 375.55 Td (e as the Compan) Tj ET Q q 0 0 0 rg BT 458.08 375.55 Td (y c) Tj ET Q q 0 0 0 rg BT 469.01 375.55 Td (omple) Tj ET Q q 0 0 0 rg BT 494.75 375.55 Td (t) Tj ET Q q 0 0 0 rg BT 497.99 375.55 Td (es its ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 363.55 Td (pur) Tj ET Q q 0 0 0 rg BT 67.85 363.55 Td (chases pur) Tj ET Q q 0 0 0 rg BT 111.00 363.55 Td (suan) Tj ET Q q 0 0 0 rg BT 130.12 363.55 Td (t t) Tj ET Q q 0 0 0 rg BT 138.98 363.55 Td (o the NCIB. All pur) Tj ET Q q 0 0 0 rg BT 213.37 363.55 Td (chases made under the NCIB ar) Tj ET Q q 0 0 0 rg BT 340.45 363.55 Td (e a) Tj ET Q q 0 0 0 rg BT 352.38 363.55 Td (t mark) Tj ET Q q 0 0 0 rg BT 378.48 363.55 Td (e) Tj ET Q q 0 0 0 rg BT 383.40 363.55 Td (t prices pr) Tj ET Q q 0 0 0 rg BT 424.03 363.55 Td (e) Tj ET Q q 0 0 0 rg BT 428.96 363.55 Td (v) Tj ET Q q 0 0 0 rg BT 433.33 363.55 Td (ailing a) Tj ET Q q 0 0 0 rg BT 461.92 363.55 Td (t the time of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 351.55 Td (pur) Tj ET Q q 0 0 0 rg BT 67.85 351.55 Td (chase de) Tj ET Q q 0 0 0 rg BT 103.44 351.55 Td (t) Tj ET Q q 0 0 0 rg BT 106.69 351.55 Td (ermined b) Tj ET Q q 0 0 0 rg BT 148.38 351.55 Td (y or on behalf of the Compan) Tj ET Q q 0 0 0 rg BT 266.99 351.55 Td (y) Tj ET Q q 0 0 0 rg BT 270.86 351.55 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 333.55 Td (F) Tj ET Q q 0 0 0 rg BT 58.46 333.55 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.32 333.55 Td (thr) Tj ET Q q 0 0 0 rg BT 97.28 333.55 Td (ee mon) Tj ET Q q 0 0 0 rg BT 127.91 333.55 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 187.34 333.55 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 234.25 333.55 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 254.07 333.55 Td (2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 274.34 333.55 Td (, principal amoun) Tj ET Q q 0 0 0 rg BT 344.98 333.55 Td (ts of c) Tj ET Q q 0 0 0 rg BT 369.23 333.55 Td (on) Tj ET Q q 0 0 0 rg BT 379.59 333.55 Td (v) Tj ET Q q 0 0 0 rg BT 384.01 333.55 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 438.52 333.55 Td (tur) Tj ET Q q 0 0 0 rg BT 450.48 333.55 Td (es pur) Tj ET Q q 0 0 0 rg BT 475.47 333.55 Td (chased and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 321.55 Td (amoun) Tj ET Q q 0 0 0 rg BT 82.47 321.55 Td (ts paid f) Tj ET Q q 0 0 0 rg BT 114.68 321.55 Td (or the pur) Tj ET Q q 0 0 0 rg BT 155.39 321.55 Td (chases ar) Tj ET Q q 0 0 0 rg BT 192.87 321.55 Td (e r) Tj ET Q q 0 0 0 rg BT 203.46 321.55 Td (epr) Tj ET Q q 0 0 0 rg BT 217.04 321.55 Td (esen) Tj ET Q q 0 0 0 rg BT 236.07 321.55 Td (t) Tj ET Q q 0 0 0 rg BT 239.31 321.55 Td (ed in the t) Tj ET Q q 0 0 0 rg BT 280.67 321.55 Td (able belo) Tj ET Q q 0 0 0 rg BT 318.01 321.55 Td (w:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 311 m 251.5 311 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 251.5 311 m 271.5 311 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 311 m 326.5 311 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 311 m 346.5 311 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 311 m 401.5 311 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 311 m 421.5 311 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421.5 311 m 476.5 311 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 311 m 496.5 311 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 311 m 550.5 311 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 281 m 251.5 281 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 251.5 281 m 271.5 281 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 271.5 281 m 326.5 281 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 326.5 281 m 346.5 281 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 346.5 281 m 401.5 281 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401.5 281 m 421.5 281 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421.5 281 m 476.5 281 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 476.5 281 m 496.5 281 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 281 m 550.5 281 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 250 m 251.5 250 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 235 m 251.5 235 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 251.5 250 m 271.5 250 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 251.5 235 m 271.5 235 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 271.5 250 m 326.5 250 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 235 m 326.5 235 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 326.5 250 m 346.5 250 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 235 m 346.5 235 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 346.5 250 m 401.5 250 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 235 m 401.5 235 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401.5 250 m 421.5 250 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 235 m 421.5 235 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421.5 250 m 476.5 250 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421.5 235 m 476.5 235 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 476.5 250 m 496.5 250 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 235 m 496.5 235 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 250 m 550.5 250 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 235 m 550.5 235 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 300.50 Td (\(thousands of Canadian dollars\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 285.50 Td (Three months ended March 31) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.75 285.50 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 530.75 285.50 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 292.30 270.50 Td ( Principal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 296.05 262.50 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 288.60 254.50 Td (Purchased) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.90 254.50 Td (Amount Paid) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 443.10 270.50 Td ( Principal) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 446.75 262.50 Td (Amount) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 439.25 254.50 Td (Purchased) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 505.10 254.50 Td (Amount Paid) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 59.00 239.75 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 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260.29 736.70 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 291.73 736.70 Td (S c) Tj ET Q q 0 0 0 rg BT 308.26 736.70 Td (on) Tj ET Q q 0 0 0 rg BT 317.84 736.70 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (73) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET q 0 0 0 rg BT 56.00 691.50 Td (13) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 70.19 691.50 Td (. 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98.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 83.79999999999995 m 558.5 83.79999999999995 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 213.30 Td (\(thousands of Canadian dollars and thousands of common) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 205.30 Td (shares\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 57.00 190.30 Td (Three months ended March 31) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 409.75 190.30 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.75 190.30 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 271.35 168.30 Td (Note) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 322.10 176.30 Td (Number of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.05 168.30 Td (Common Shar) Tj ET Q q 0 0 0 rg BT 350.78 168.30 Td (es) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 379.75 168.30 Td (Stated Capital) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 454.80 176.30 Td (Number of) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 437.00 168.30 Td (Common Shar) Tj ET Q q 0 0 0 rg BT 482.89 168.30 Td (es) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 510.00 168.30 Td (Stated Capital) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 154.55 Td (Issued and outstanding at beginning of period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 328.45 154.55 Td (216,374) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 364.00 154.55 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 389.55 154.55 Td (2,600,605) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.60 154.55 Td (208,356) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 496.00 154.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 518.80 154.55 Td (2,457,310) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 141.55 Td (Payment of interest on convertible debentures) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 274.90 141.55 Td (12) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 344.45 141.55 Td (514) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 405.55 141.55 Td (9,835) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 476.55 141.55 Td (582) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 141.55 Td (9,980) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 128.55 Td (Exercise of options) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 344.45 128.55 Td (611) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 401.00 128.55 Td (10,037) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 476.55 128.55 Td (212) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 128.55 Td (3,222) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 115.55 Td (Issuance of common shares) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 337.55 115.55 Td (4,450) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 401.00 115.55 Td (87,753) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.10 115.55 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.10 115.55 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 102.55 Td (Share issue costs and other, net of tax effect) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 350.00 102.55 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 402.75 102.55 Td (\(2,757) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 426.15 102.55 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.10 102.55 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.95 102.55 Td (\(5) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 102.55 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 88.55 Td (Issued and outstanding at end of period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 328.45 88.55 Td (221,949) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 364.00 88.55 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 389.55 88.55 Td (2,705,473) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.60 88.55 Td (209,150) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 496.00 88.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 518.80 88.55 Td (2,470,507) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 151 0 obj <> endobj 152 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL 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480.22 694.50 Td (oss pr) Tj ET Q q 0 0 0 rg BT 504.16 694.50 Td (oceeds of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 682.50 Td ($86.5 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 106.75 682.50 Td (. Issue c) Tj ET Q q 0 0 0 rg BT 138.52 682.50 Td (os) Tj ET Q q 0 0 0 rg BT 147.59 682.50 Td (ts associa) Tj ET Q q 0 0 0 rg BT 186.22 682.50 Td (t) Tj ET Q q 0 0 0 rg BT 189.46 682.50 Td (ed with the of) Tj ET Q q 0 0 0 rg BT 246.32 682.50 Td (f) Tj ET Q q 0 0 0 rg BT 249.13 682.50 Td (ering w) Tj ET Q q 0 0 0 rg BT 279.17 682.50 Td (er) Tj ET Q q 0 0 0 rg BT 287.50 682.50 Td (e appr) Tj ET Q q 0 0 0 rg BT 313.36 682.50 Td (o) Tj ET Q q 0 0 0 rg BT 318.43 682.50 Td (xima) Tj ET Q q 0 0 0 rg BT 337.75 682.50 Td (t) Tj ET Q q 0 0 0 rg BT 340.99 682.50 Td (ely ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 355.04 682.50 Td ($3.7 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 402.73 682.50 Td (. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 652.65 Td (\(b\) Con) Tj ET Q q 0 0 0 rg BT 89.76 652.65 Td (tribut) Tj ET Q q 0 0 0 rg BT 118.03 652.65 Td (ed surplus and other equity it) Tj ET Q q 0 0 0 rg BT 265.01 652.65 Td (ems) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 632.25 Td (Con) Tj 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514.5 441.75 m 554.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 428.75 m 554.5 428.75 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 611.25 Td (\(thousands of Canadian dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 57.00 596.25 Td (Three months ended March 31) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.75 596.25 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 534.75 596.25 Td (2014) Tj ET Q BT /F2 6.00 Tf ET q 0 0 0 rg BT 241.05 557.75 Td (Con) Tj ET Q q 0 0 0 rg BT 250.62 557.75 Td (tribut) Tj ET Q q 0 0 0 rg BT 264.75 557.75 Td (ed) Tj ET Q BT /F2 6.00 Tf ET q 0 0 0 rg BT 252.50 551.75 Td (Surplus) Tj ET Q BT /F2 6.00 Tf ET q 0 0 0 rg BT 282.25 569.75 Td (Con) Tj ET Q q 0 0 0 rg BT 291.79 569.75 Td (v) Tj ET Q q 0 0 0 rg BT 294.57 569.75 Td (ertible) Tj ET Q BT /F2 6.00 Tf ET q 0 0 0 rg BT 282.00 563.75 Td (Deben) Tj ET Q q 0 0 0 rg BT 298.21 563.75 Td (tur) Tj ET Q q 0 0 0 rg BT 305.57 563.75 Td (es) Tj ET Q BT /F2 6.00 Tf ET q 0 0 0 rg BT 295.30 557.75 Td (E) Tj ET Q q 0 0 0 rg BT 298.14 557.75 Td (quity) Tj ET Q BT /F2 6.00 Tf ET q 0 0 0 rg BT 281.75 551.75 Td (Componen) Tj ET Q q 0 0 0 rg BT 308.88 551.75 Td (t) Tj ET Q BT /F2 6.00 Tf ET q 0 0 0 rg BT 331.35 581.75 Td (Op) Tj ET Q q 0 0 0 rg BT 338.60 581.75 Td (tions) Tj ET Q BT /F2 6.00 Tf ET q 0 0 0 rg BT 325.90 575.75 Td (R) Tj ET Q q 0 0 0 rg BT 329.19 575.75 Td (es) Tj ET Q q 0 0 0 rg BT 334.54 575.75 Td (trict) Tj ET Q q 0 0 0 rg BT 344.74 575.75 Td (ed) Tj ET Q BT /F2 6.00 Tf ET q 0 0 0 rg BT 341.55 569.75 Td (and) Tj ET Q BT /F2 6.00 Tf ET q 0 0 0 rg BT 328.95 563.75 Td (De) Tj ET Q q 0 0 0 rg BT 335.71 563.75 Td (f) Tj ET Q q 0 0 0 rg BT 337.50 563.75 Td (err) Tj ET Q q 0 0 0 rg BT 344.72 563.75 Td (ed) Tj ET Q BT /F2 6.00 Tf ET q 0 0 0 rg BT 336.85 557.75 Td (Shar) Tj ET Q q 0 0 0 rg BT 347.93 557.75 Td (e) Tj ET Q BT /F2 6.00 Tf ET q 0 0 0 rg BT 337.90 551.75 Td (Units) Tj ET Q BT /F2 6.00 Tf ET q 0 0 0 rg BT 378.85 551.75 Td (Total) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 401.65 557.75 Td (Contributed) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 412.95 551.75 Td (Surplus) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 442.95 569.75 Td (Con) Tj ET Q q 0 0 0 rg BT 452.37 569.75 Td (v) Tj ET Q q 0 0 0 rg BT 455.02 569.75 Td (ertible) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 442.55 563.75 Td (Deben) Tj ET Q q 0 0 0 rg BT 458.46 563.75 Td (tur) Tj ET Q q 0 0 0 rg BT 465.64 563.75 Td (es) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 455.75 557.75 Td (E) Tj ET Q q 0 0 0 rg BT 458.59 557.75 Td (quity) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 442.25 551.75 Td (Componen) Tj ET Q q 0 0 0 rg BT 468.96 551.75 Td (t) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 491.85 581.75 Td (Op) Tj ET Q q 0 0 0 rg BT 498.95 581.75 Td (tions) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 486.45 575.75 Td (R) Tj ET Q q 0 0 0 rg BT 489.60 575.75 Td (es) Tj ET Q q 0 0 0 rg BT 494.87 575.75 Td (trict) Tj ET Q q 0 0 0 rg BT 504.83 575.75 Td (ed) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 501.80 569.75 Td (and) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 489.45 563.75 Td (De) Tj ET Q q 0 0 0 rg BT 496.07 563.75 Td (f) Tj ET Q q 0 0 0 rg BT 497.76 563.75 Td (err) Tj ET Q q 0 0 0 rg BT 504.85 563.75 Td (ed) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 497.20 557.75 Td (Shar) Tj ET Q q 0 0 0 rg BT 508.00 557.75 Td (e) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 498.25 551.75 Td (Units) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 539.25 551.75 Td (Total) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 283.70 537.00 Td (\(Note 12\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 444.10 537.00 Td (\(Note 12\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 523.50 Td (Balance at beginning of period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 237.00 523.50 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 246.00 523.50 Td (19,292) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 277.00 523.50 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 290.55 523.50 Td (7,964) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 317.00 523.50 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 326.00 523.50 Td (18,182) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 357.00 523.50 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 366.00 523.50 Td (45,438) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 397.00 523.50 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 403.15 523.50 Td (19,278) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 437.00 523.50 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 447.75 523.50 Td (8,058) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 477.00 523.50 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.15 523.50 Td (17,264) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 517.00 523.50 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.15 523.50 Td (44,600) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 510.50 Td (Purchase of convertible debentures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 262.00 510.50 Td (40) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 299.20 510.50 Td (\(24) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 311.15 510.50 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 343.00 510.50 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 382.00 510.50 Td (16) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 423.10 510.50 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 463.10 510.50 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.10 510.50 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.10 510.50 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 497.50 Td (Options vested) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 263.00 497.50 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 303.00 497.50 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 337.45 497.50 Td (157) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 377.45 497.50 Td (157) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 423.10 497.50 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 463.10 497.50 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.55 497.50 Td (230) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.55 497.50 Td (230) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 484.50 Td (Exercise of options) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 263.00 484.50 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 303.00 484.50 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 334.65 484.50 Td (\(434) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 351.15 484.50 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 374.65 484.50 Td (\(434) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 391.15 484.50 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 423.10 484.50 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 463.10 484.50 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 494.80 484.50 Td (\(183) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 511.25 484.50 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.80 484.50 Td (\(183) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 551.25 484.50 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 471.50 Td (Deferred share units vested) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 263.00 471.50 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 303.00 471.50 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 337.45 471.50 Td (382) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 377.45 471.50 Td (382) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 423.10 471.50 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 463.10 471.50 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.55 471.50 Td (261) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.55 471.50 Td (261) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 458.50 Td (Restricted share units vested) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 263.00 458.50 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 303.00 458.50 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 337.45 458.50 Td (435) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 377.45 458.50 Td (435) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 423.10 458.50 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 463.10 458.50 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.55 458.50 Td (436) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.55 458.50 Td (436) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 445.50 Td (Exercise of restricted and deferred share units) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 263.00 445.50 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 303.00 445.50 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 327.75 445.50 Td (\(1,227) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 351.15 445.50 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 367.75 445.50 Td (\(1,227) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 391.15 445.50 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 423.10 445.50 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 463.10 445.50 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.10 445.50 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.10 445.50 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 432.50 Td (Balance at end of period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 237.00 432.50 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 246.00 432.50 Td (19,332) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 277.00 432.50 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 290.55 432.50 Td (7,940) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 317.00 432.50 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 326.00 432.50 Td (17,495) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 357.00 432.50 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 366.00 432.50 Td (44,767) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 397.00 432.50 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 406.15 432.50 Td (19,278) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 437.00 432.50 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 450.75 432.50 Td (8,058) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 477.00 432.50 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 486.15 432.50 Td (18,008) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 517.00 432.50 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.15 432.50 Td (45,344) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 408.85 Td (\(c\) St) Tj ET Q q 0 0 0 rg BT 78.93 408.85 Td (ock op) Tj ET Q q 0 0 0 rg BT 111.71 408.85 Td (tions ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 393.85 Td (As of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 76.54 393.85 Td (Mar) Tj ET Q q 0 0 0 rg BT 93.22 393.85 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.13 393.85 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 144.89 393.85 Td (3.0 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 187.51 393.85 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 192.80 393.85 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 272.26 393.85 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 281.76 393.85 Td (3.3 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 324.38 393.85 Td (\) c) Tj ET Q q 0 0 0 rg BT 333.82 393.85 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 385.17 393.85 Td (e op) Tj ET Q q 0 0 0 rg BT 402.89 393.85 Td (tions ar) Tj ET Q q 0 0 0 rg BT 433.38 393.85 Td (e a) Tj ET Q q 0 0 0 rg BT 445.24 393.85 Td (v) Tj ET Q q 0 0 0 rg BT 449.61 393.85 Td (ailable t) Tj ET Q q 0 0 0 rg BT 481.81 393.85 Td (o be gr) Tj ET Q q 0 0 0 rg BT 509.83 393.85 Td (an) Tj ET Q q 0 0 0 rg BT 519.78 393.85 Td (t) Tj ET Q q 0 0 0 rg BT 523.02 393.85 Td (ed t) Tj ET Q q 0 0 0 rg BT 538.76 393.85 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 381.85 Td (the emplo) Tj ET Q q 0 0 0 rg BT 95.57 381.85 Td (y) Tj ET Q q 0 0 0 rg BT 99.98 381.85 Td (ees, of) Tj ET Q q 0 0 0 rg BT 126.82 381.85 Td (ficer) Tj ET Q q 0 0 0 rg BT 144.69 381.85 Td (s and dir) Tj ET Q q 0 0 0 rg BT 179.32 381.85 Td (ect) Tj ET Q q 0 0 0 rg BT 191.78 381.85 Td (or) Tj ET Q q 0 0 0 rg BT 200.37 381.85 Td (s of the Compan) Tj ET Q q 0 0 0 rg BT 266.67 381.85 Td (y) Tj ET Q q 0 0 0 rg BT 270.54 381.85 Td (. In addition, as a) Tj ET Q q 0 0 0 rg BT 339.54 381.85 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 345.15 381.85 Td (Mar) Tj ET Q q 0 0 0 rg BT 361.83 381.85 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 408.74 381.85 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 413.49 381.85 Td (4.6 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 456.11 381.85 Td ( c) Tj ET Q q 0 0 0 rg BT 462.52 381.85 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 513.86 381.85 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 369.85 Td (op) Tj ET Q q 0 0 0 rg BT 64.48 369.85 Td (tions w) Tj ET Q q 0 0 0 rg BT 93.89 369.85 Td (er) Tj ET Q q 0 0 0 rg BT 102.22 369.85 Td (e outs) Tj ET Q q 0 0 0 rg BT 127.13 369.85 Td (t) Tj ET Q q 0 0 0 rg BT 130.36 369.85 Td (anding. Op) Tj ET Q q 0 0 0 rg BT 174.53 369.85 Td (tions gr) Tj ET Q q 0 0 0 rg BT 204.86 369.85 Td (an) Tj ET Q q 0 0 0 rg BT 214.81 369.85 Td (t) Tj ET Q q 0 0 0 rg BT 218.05 369.85 Td (ed b) Tj ET Q q 0 0 0 rg BT 235.75 369.85 Td (y the Compan) Tj ET Q q 0 0 0 rg BT 292.08 369.85 Td (y g) Tj ET Q q 0 0 0 rg BT 303.49 369.85 Td (ener) Tj ET Q q 0 0 0 rg BT 321.98 369.85 Td (ally e) Tj ET Q q 0 0 0 rg BT 342.97 369.85 Td (xpir) Tj ET Q q 0 0 0 rg BT 358.20 369.85 Td (e 10 y) Tj ET Q q 0 0 0 rg BT 382.24 369.85 Td (ear) Tj ET Q q 0 0 0 rg BT 395.32 369.85 Td (s fr) Tj ET Q q 0 0 0 rg BT 407.87 369.85 Td (om the da) Tj ET Q q 0 0 0 rg BT 449.19 369.85 Td (t) Tj ET Q q 0 0 0 rg BT 452.43 369.85 Td (e of gr) Tj ET Q q 0 0 0 rg BT 478.24 369.85 Td (an) Tj ET Q q 0 0 0 rg BT 488.19 369.85 Td (t and v) Tj ET Q q 0 0 0 rg BT 515.78 369.85 Td (es) Tj ET Q q 0 0 0 rg BT 524.55 369.85 Td (t o) Tj ET Q q 0 0 0 rg BT 535.39 369.85 Td (v) Tj ET Q q 0 0 0 rg BT 539.81 369.85 Td (er ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 357.85 Td (fiv) Tj ET Q q 0 0 0 rg BT 63.77 357.85 Td (e y) Tj ET Q q 0 0 0 rg BT 75.41 357.85 Td (ear) Tj ET Q q 0 0 0 rg BT 88.49 357.85 Td (s. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 339.85 Td (The outs) Tj ET Q q 0 0 0 rg BT 89.04 339.85 Td (t) Tj ET Q q 0 0 0 rg BT 92.27 339.85 Td (anding op) Tj ET Q q 0 0 0 rg BT 132.56 339.85 Td (tions as a) Tj ET Q q 0 0 0 rg BT 170.57 339.85 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 176.18 339.85 Td (Mar) Tj ET Q q 0 0 0 rg BT 192.86 339.85 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 239.77 339.85 Td ( ha) Tj ET Q q 0 0 0 rg BT 251.91 339.85 Td (v) Tj ET Q q 0 0 0 rg BT 256.32 339.85 Td (e e) Tj ET Q q 0 0 0 rg BT 268.38 339.85 Td (x) Tj ET Q q 0 0 0 rg BT 272.45 339.85 Td (er) Tj ET Q q 0 0 0 rg BT 280.77 339.85 Td (cise prices r) Tj ET Q q 0 0 0 rg BT 328.13 339.85 Td (anging fr) Tj ET Q q 0 0 0 rg BT 363.78 339.85 Td (om ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 379.30 339.85 Td ($9.81 $19.96) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 439.46 339.85 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 444.76 339.85 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.22 339.85 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 327.85 Td ($9.81 $19.02) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 114.17 327.85 Td (\).) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 309.85 Td (During the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.25 309.85 Td (thr) Tj ET Q q 0 0 0 rg BT 111.21 309.85 Td (ee mon) Tj ET Q q 0 0 0 rg BT 141.84 309.85 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 201.27 309.85 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.18 309.85 Td (, $) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 258.00 309.85 Td (0.1 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.62 309.85 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 305.91 309.85 Td (thr) Tj ET Q q 0 0 0 rg BT 317.87 309.85 Td (ee mon) Tj ET Q q 0 0 0 rg BT 348.51 309.85 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 407.94 309.85 Td (ch 31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.84 309.85 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 464.35 309.85 Td ($0.2 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 512.03 309.85 Td (\) w) Tj ET Q q 0 0 0 rg BT 524.36 309.85 Td (as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 297.85 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 297.85 Td (ec) Tj ET Q q 0 0 0 rg BT 66.48 297.85 Td (or) Tj ET Q q 0 0 0 rg BT 75.10 297.85 Td (ded as an e) Tj ET Q q 0 0 0 rg BT 120.93 297.85 Td (xpense r) Tj ET Q q 0 0 0 rg BT 155.25 297.85 Td (ela) Tj ET Q q 0 0 0 rg BT 167.22 297.85 Td (t) Tj ET Q q 0 0 0 rg BT 170.46 297.85 Td (ed t) Tj ET Q q 0 0 0 rg BT 186.20 297.85 Td (o s) Tj ET Q q 0 0 0 rg BT 197.54 297.85 Td (t) Tj ET Q q 0 0 0 rg BT 200.79 297.85 Td (ock op) Tj ET Q q 0 0 0 rg BT 227.58 297.85 Td (tions.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 287.35 m 288.5 287.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 287.35 m 346.5 287.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 287.35 m 366.5 287.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 287.35 m 421.5 287.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421.5 287.35 m 480.5 287.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 287.35 m 500.5 287.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 287.35 m 555.5 287.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 288.5 261.35 m 346.5 261.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 346.5 261.35 m 366.5 261.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421.5 261.35 m 480.5 261.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 261.35 m 500.5 261.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 261.35 m 288.5 261.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 229.35000000000002 m 288.5 229.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 288.5 261.35 m 346.5 261.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 288.5 229.35000000000002 m 346.5 229.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 346.5 261.35 m 366.5 261.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 346.5 229.35000000000002 m 366.5 229.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366.5 261.35 m 421.5 261.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366.5 229.35000000000002 m 421.5 229.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421.5 261.35 m 480.5 261.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421.5 229.35000000000002 m 480.5 229.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 261.35 m 500.5 261.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 229.35000000000002 m 500.5 229.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 261.35 m 555.5 261.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 229.35000000000002 m 555.5 229.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 177.35000000000002 m 288.5 177.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 162.35000000000002 m 288.5 162.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 288.5 177.35000000000002 m 346.5 177.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 162.35000000000002 m 346.5 162.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 346.5 177.35000000000002 m 366.5 177.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 162.35000000000002 m 366.5 162.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366.5 177.35000000000002 m 421.5 177.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 162.35000000000002 m 421.5 162.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421.5 177.35000000000002 m 480.5 177.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421.5 162.35000000000002 m 480.5 162.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 177.35000000000002 m 500.5 177.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 162.35000000000002 m 500.5 162.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 177.35000000000002 m 555.5 177.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 162.35000000000002 m 555.5 162.35000000000002 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 278.85 Td (\(In Canadian dollars, except other data\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 57.00 265.85 Td (Three months ended March 31) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.75 265.85 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 535.75 265.85 Td (2014) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 311.60 253.60 Td (Number of) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 295.75 246.60 Td (Common Shar) Tj ET Q q 0 0 0 rg BT 336.64 246.60 Td (es) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 319.30 239.60 Td (Issuable) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 301.30 232.60 Td (\(in thousands\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 390.00 247.60 Td (W) Tj ET Q q 0 0 0 rg BT 396.09 247.60 Td (eigh) Tj ET Q q 0 0 0 rg BT 408.35 247.60 Td (t) Tj ET Q q 0 0 0 rg BT 410.69 247.60 Td (ed ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 394.60 240.60 Td (A) Tj ET Q q 0 0 0 rg BT 398.67 240.60 Td (v) Tj ET Q q 0 0 0 rg BT 401.92 240.60 Td (er) Tj ET Q q 0 0 0 rg BT 407.78 240.60 Td (ag) Tj ET Q q 0 0 0 rg BT 414.48 240.60 Td (e) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 378.65 233.60 Td (Ex) Tj ET Q q 0 0 0 rg BT 385.11 233.60 Td (er) Tj ET Q q 0 0 0 rg BT 391.03 233.60 Td (cise Price) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 446.20 253.60 Td (Number of) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 430.60 246.60 Td (Common Shar) Tj ET Q q 0 0 0 rg BT 470.75 246.60 Td (es) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 453.95 239.60 Td (Issuable) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 436.30 232.60 Td (\(in thousands\)) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 524.60 247.60 Td (W) Tj ET Q q 0 0 0 rg BT 530.57 247.60 Td (eigh) Tj ET Q q 0 0 0 rg BT 542.57 247.60 Td (t) Tj ET Q q 0 0 0 rg BT 544.84 247.60 Td (ed ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 529.10 240.60 Td (A) Tj ET Q q 0 0 0 rg BT 533.02 240.60 Td (v) Tj ET Q q 0 0 0 rg BT 536.11 240.60 Td (er) Tj ET Q q 0 0 0 rg BT 541.89 240.60 Td (ag) Tj ET Q q 0 0 0 rg BT 548.48 240.60 Td (e) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 513.40 233.60 Td (Ex) Tj ET Q q 0 0 0 rg BT 519.67 233.60 Td (er) Tj ET Q q 0 0 0 rg BT 525.49 233.60 Td (cise Price) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 220.10 Td (Outstanding at beginning of period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.55 220.10 Td (4,956) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 369.00 220.10 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 397.50 220.10 Td (16.89) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.75 220.10 Td (5,968) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 220.10 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 220.10 Td (16.37) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 207.10 Td (Granted \(a\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 329.45 207.10 Td (301) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 397.50 207.10 Td (19.96) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 463.55 207.10 Td (494) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 207.10 Td (17.77) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 194.10 Td (Exercised \(b\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 326.65 194.10 Td (\(611) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 343.15 194.10 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 397.50 194.10 Td (15.71) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.80 194.10 Td (\(213) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 477.25 194.10 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 194.10 Td (14.29) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 181.10 Td (Forfeited) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 331.20 181.10 Td (\(42) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 343.15 181.10 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 397.50 181.10 Td (18.26) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 465.35 181.10 Td (\(12) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 477.25 181.10 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 181.10 Td (18.33) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 167.10 Td (Outstanding at end of period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.55 167.10 Td (4,604) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 369.00 167.10 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 397.50 167.10 Td (17.24) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.75 167.10 Td (6,237) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 167.10 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 167.10 Td (16.55) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 144.85 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 72.00 144.85 Td (The f) Tj ET Q q 0 0 0 rg BT 92.22 144.85 Td (air v) Tj ET Q q 0 0 0 rg BT 109.42 144.85 Td (alue associa) Tj ET Q q 0 0 0 rg BT 158.10 144.85 Td (t) Tj ET Q q 0 0 0 rg BT 161.35 144.85 Td (ed with the op) Tj ET Q q 0 0 0 rg BT 220.47 144.85 Td (tions issued w) Tj ET Q q 0 0 0 rg BT 277.71 144.85 Td (as c) Tj ET Q q 0 0 0 rg BT 292.82 144.85 Td (alcula) Tj ET Q q 0 0 0 rg BT 316.38 144.85 Td (t) Tj ET Q q 0 0 0 rg BT 319.62 144.85 Td (ed using the Black) Tj ET Q q 0 0 0 rg BT 392.55 144.85 Td (-Scholes model f) Tj ET Q q 0 0 0 rg BT 459.29 144.85 Td (or op) Tj ET Q q 0 0 0 rg BT 480.80 144.85 Td (tion v) Tj ET Q q 0 0 0 rg BT 503.60 144.85 Td (alua) Tj ET Q q 0 0 0 rg BT 520.64 144.85 Td (tion ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 132.85 Td (based on the f) Tj ET Q q 0 0 0 rg BT 129.92 132.85 Td (ollo) Tj ET Q q 0 0 0 rg BT 145.01 132.85 Td (wing assump) Tj ET Q q 0 0 0 rg BT 197.74 132.85 Td (tions:) Tj ET Q endstream endobj 153 0 obj <> endobj 154 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 736.70 Td (NO) Tj ET Q q 0 0 0 rg BT 66.82 736.70 Td (TE) Tj ET Q q 0 0 0 rg BT 75.58 736.70 Td (S T) Tj ET Q q 0 0 0 rg BT 86.08 736.70 Td (O THE INTERIM C) Tj ET Q q 0 0 0 rg BT 150.00 736.70 Td (ONSOLID) Tj ET Q q 0 0 0 rg BT 184.02 736.70 Td (A) Tj ET Q q 0 0 0 rg BT 188.77 736.70 Td (TED FINANCIAL S) Tj ET Q q 0 0 0 rg BT 251.79 736.70 Td (T) Tj ET Q q 0 0 0 rg BT 255.54 736.70 Td (A) Tj ET Q q 0 0 0 rg BT 260.29 736.70 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 291.73 736.70 Td (S c) Tj ET Q q 0 0 0 rg BT 308.26 736.70 Td (on) Tj ET Q q 0 0 0 rg BT 317.84 736.70 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (75) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 701.5 m 403.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 701.5 m 423.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 701.5 m 478.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 701.5 m 498.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 701.5 m 553.5 701.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 686.5 m 403.5 686.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 671.5 m 403.5 671.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 686.5 m 423.5 686.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 671.5 m 423.5 671.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423.5 686.5 m 478.5 686.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423.5 671.5 m 478.5 671.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 686.5 m 498.5 686.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 671.5 m 498.5 671.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 686.5 m 553.5 686.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 671.5 m 553.5 671.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 563.5 m 403.5 563.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 563.5 m 423.5 563.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 563.5 m 478.5 563.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 563.5 m 498.5 563.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 563.5 m 553.5 563.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 57.00 676.00 Td (Three months ended March 31) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.75 676.00 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 533.75 676.00 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 662.25 Td (Share options granted \(thousands\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.70 662.25 Td (301) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.30 662.25 Td (494) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 649.25 Td (Term to expiry) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 444.00 649.25 Td (10 years) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 519.55 649.25 Td (10 years) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 636.25 Td (Exercise price) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 426.00 636.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 450.75 636.25 Td (19.96) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 501.00 636.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.00 636.25 Td (17.77) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 623.25 Td (Weighted average volatility rate) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.30 623.25 Td (15.0) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.40 623.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.55 623.25 Td (15.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.55 623.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 610.25 Td (Weighted average expected option life) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 448.55 610.25 Td (6 years) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 524.10 610.25 Td (6 years) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 597.25 Td (Weighted average dividend yield) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.30 597.25 Td (4.38) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.40 597.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.55 597.25 Td (4.72) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.55 597.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 583.25 Td (Weighted average risk free interest rate) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.30 583.25 Td (1.13) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.40 583.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.55 583.25 Td (1.87) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.55 583.25 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 568.25 Td (Fair value \(thousands\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 426.00 568.25 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.70 568.25 Td (323) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 501.00 568.25 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.85 568.25 Td (548) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 546.00 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 72.00 546.00 Td (The w) Tj ET Q q 0 0 0 rg BT 96.42 546.00 Td (eigh) Tj ET Q q 0 0 0 rg BT 113.56 546.00 Td (t) Tj ET Q q 0 0 0 rg BT 116.80 546.00 Td (ed a) Tj ET Q q 0 0 0 rg BT 133.92 546.00 Td (v) Tj ET Q q 0 0 0 rg BT 138.34 546.00 Td (er) Tj ET Q q 0 0 0 rg BT 146.59 546.00 Td (ag) Tj ET Q q 0 0 0 rg BT 156.01 546.00 Td (e mark) Tj ET Q q 0 0 0 rg BT 183.73 546.00 Td (e) Tj ET Q q 0 0 0 rg BT 188.66 546.00 Td (t shar) Tj ET Q q 0 0 0 rg BT 211.58 546.00 Td (e price a) Tj ET Q q 0 0 0 rg BT 246.01 546.00 Td (t which op) Tj ET Q q 0 0 0 rg BT 288.54 546.00 Td (tions w) Tj ET Q q 0 0 0 rg BT 317.95 546.00 Td (er) Tj ET Q q 0 0 0 rg BT 326.28 546.00 Td (e e) Tj ET Q q 0 0 0 rg BT 338.34 546.00 Td (x) Tj ET Q q 0 0 0 rg BT 342.41 546.00 Td (er) Tj ET Q q 0 0 0 rg BT 350.72 546.00 Td (cised f) Tj ET Q q 0 0 0 rg BT 376.49 546.00 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 403.35 546.00 Td (thr) Tj ET Q q 0 0 0 rg BT 415.31 546.00 Td (ee mon) Tj ET Q q 0 0 0 rg BT 445.94 546.00 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 505.37 546.00 Td (ch 31, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 534.00 Td (2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 92.27 534.00 Td ( w) Tj ET Q q 0 0 0 rg BT 101.57 534.00 Td (as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 112.53 534.00 Td ($19.59) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.40 534.00 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 145.69 534.00 Td (thr) Tj ET Q q 0 0 0 rg BT 157.65 534.00 Td (ee mon) Tj ET Q q 0 0 0 rg BT 188.28 534.00 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 247.71 534.00 Td (ch 31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 294.62 534.00 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 304.12 534.00 Td ($17.56) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 331.99 534.00 Td (\).) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 513.60 Td (\(d\) Shar) Tj ET Q q 0 0 0 rg BT 92.79 513.60 Td (e unit plans) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 498.60 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 498.60 Td (y) Tj ET Q q 0 0 0 rg BT 109.90 498.60 Td () Tj ET Q q 0 0 0 rg BT 111.78 498.60 Td (s shar) Tj ET Q q 0 0 0 rg BT 135.26 498.60 Td (e unit plans include a Dir) Tj ET Q q 0 0 0 rg BT 235.35 498.60 Td (ect) Tj ET Q q 0 0 0 rg BT 247.80 498.60 Td (or) Tj ET Q q 0 0 0 rg BT 256.39 498.60 Td (s' De) Tj ET Q q 0 0 0 rg BT 275.81 498.60 Td (f) Tj ET Q q 0 0 0 rg BT 278.61 498.60 Td (err) Tj ET Q q 0 0 0 rg BT 290.43 498.60 Td (ed Shar) Tj ET Q q 0 0 0 rg BT 320.91 498.60 Td (e Unit Plan and a R) Tj ET Q q 0 0 0 rg BT 397.35 498.60 Td (es) Tj ET Q q 0 0 0 rg BT 406.13 498.60 Td (trict) Tj ET Q q 0 0 0 rg BT 422.73 498.60 Td (ed Shar) Tj ET Q q 0 0 0 rg BT 453.21 498.60 Td (e Unit Plan. Under ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 486.60 Td (the plans, a participan) Tj ET Q q 0 0 0 rg BT 144.05 486.60 Td (t is en) Tj ET Q q 0 0 0 rg BT 168.27 486.60 Td (titled t) Tj ET Q q 0 0 0 rg BT 195.30 486.60 Td (o r) Tj ET Q q 0 0 0 rg BT 206.19 486.60 Td (eceiv) Tj ET Q q 0 0 0 rg BT 227.08 486.60 Td (e one c) Tj ET Q q 0 0 0 rg BT 256.23 486.60 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 307.57 486.60 Td (e, or equiv) Tj ET Q q 0 0 0 rg BT 350.47 486.60 Td (alen) Tj ET Q q 0 0 0 rg BT 367.70 486.60 Td (t c) Tj ET Q q 0 0 0 rg BT 377.45 486.60 Td (ash v) Tj ET Q q 0 0 0 rg BT 398.04 486.60 Td (alue, a) Tj ET Q q 0 0 0 rg BT 424.81 486.60 Td (t the Compan) Tj ET Q q 0 0 0 rg BT 479.96 486.60 Td (y) Tj ET Q q 0 0 0 rg BT 484.79 486.60 Td () Tj ET Q q 0 0 0 rg BT 486.68 486.60 Td (s op) Tj ET Q q 0 0 0 rg BT 503.33 486.60 Td (tion, \(i\) ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 474.60 Td (in the c) Tj ET Q q 0 0 0 rg BT 83.79 474.60 Td (ase of a De) Tj ET Q q 0 0 0 rg BT 128.41 474.60 Td (f) Tj ET Q q 0 0 0 rg BT 131.21 474.60 Td (err) Tj ET Q q 0 0 0 rg BT 143.03 474.60 Td (ed Shar) Tj ET Q q 0 0 0 rg BT 173.51 474.60 Td (e Unit \(DSU\), upon r) Tj ET Q q 0 0 0 rg BT 263.33 474.60 Td (edemp) Tj ET Q q 0 0 0 rg BT 291.73 474.60 Td (tion b) Tj ET Q q 0 0 0 rg BT 315.37 474.60 Td (y the holder a) Tj ET Q q 0 0 0 rg BT 371.52 474.60 Td (ft) Tj ET Q q 0 0 0 rg BT 377.82 474.60 Td (er the da) Tj ET Q q 0 0 0 rg BT 414.33 474.60 Td (t) Tj ET Q q 0 0 0 rg BT 417.57 474.60 Td (e tha) Tj ET Q q 0 0 0 rg BT 438.11 474.60 Td (t the holder ceases t) Tj ET Q q 0 0 0 rg BT 520.67 474.60 Td (o be ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 462.60 Td (a dir) Tj ET Q q 0 0 0 rg BT 71.95 462.60 Td (ect) Tj ET Q q 0 0 0 rg BT 84.41 462.60 Td (or of the Compan) Tj ET Q q 0 0 0 rg BT 155.56 462.60 Td (y and an) Tj ET Q q 0 0 0 rg BT 189.77 462.60 Td (y of its sub) Tj ET Q q 0 0 0 rg BT 233.33 462.60 Td (sidiaries \(the R) Tj ET Q q 0 0 0 rg BT 297.11 462.60 Td (e) Tj ET Q q 0 0 0 rg BT 302.03 462.60 Td (tir) Tj ET Q q 0 0 0 rg BT 311.03 462.60 Td (emen) Tj ET Q q 0 0 0 rg BT 334.13 462.60 Td (t Da) Tj ET Q q 0 0 0 rg BT 350.59 462.60 Td (t) Tj ET Q q 0 0 0 rg BT 353.83 462.60 Td (e\) but no la) Tj ET Q q 0 0 0 rg BT 404.19 462.60 Td (t) Tj ET Q q 0 0 0 rg BT 407.43 462.60 Td (er than December 15 of the fir) Tj ET Q q 0 0 0 rg BT 530.84 462.60 Td (s) Tj ET Q q 0 0 0 rg BT 534.64 462.60 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 450.60 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 450.60 Td (alendar y) Tj ET Q q 0 0 0 rg BT 95.66 450.60 Td (ear c) Tj ET Q q 0 0 0 rg BT 115.31 450.60 Td (ommencing a) Tj ET Q q 0 0 0 rg BT 170.27 450.60 Td (ft) Tj ET Q q 0 0 0 rg BT 176.56 450.60 Td (er the R) Tj ET Q q 0 0 0 rg BT 208.38 450.60 Td (e) Tj ET Q q 0 0 0 rg BT 213.30 450.60 Td (tir) Tj ET Q q 0 0 0 rg BT 222.30 450.60 Td (emen) Tj ET Q q 0 0 0 rg BT 245.40 450.60 Td (t Da) Tj ET Q q 0 0 0 rg BT 261.86 450.60 Td (t) Tj ET Q q 0 0 0 rg BT 265.10 450.60 Td (e, and \(ii\) in the c) Tj ET Q q 0 0 0 rg BT 335.10 450.60 Td (ase of a R) Tj ET Q q 0 0 0 rg BT 373.93 450.60 Td (es) Tj ET Q q 0 0 0 rg BT 382.71 450.60 Td (trict) Tj ET Q q 0 0 0 rg BT 399.31 450.60 Td (ed Shar) Tj ET Q q 0 0 0 rg BT 429.79 450.60 Td (e Unit \(R) Tj ET Q q 0 0 0 rg BT 469.12 450.60 Td (SU\), on ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 438.60 Td (December 15 of the thir) Tj ET Q q 0 0 0 rg BT 151.37 438.60 Td (d c) Tj ET Q q 0 0 0 rg BT 163.03 438.60 Td (alendar y) Tj ET Q q 0 0 0 rg BT 200.54 438.60 Td (ear f) Tj ET Q q 0 0 0 rg BT 218.89 438.60 Td (ollo) Tj ET Q q 0 0 0 rg BT 233.99 438.60 Td (wing the y) Tj ET Q q 0 0 0 rg BT 275.90 438.60 Td (ear in r) Tj ET Q q 0 0 0 rg BT 304.58 438.60 Td (espect of which the R) Tj ET Q q 0 0 0 rg BT 391.70 438.60 Td (SU is gr) Tj ET Q q 0 0 0 rg BT 421.42 438.60 Td (an) Tj ET Q q 0 0 0 rg BT 431.37 438.60 Td (t) Tj ET Q q 0 0 0 rg BT 434.62 438.60 Td (ed. Holder) Tj ET Q q 0 0 0 rg BT 476.97 438.60 Td (s of R) Tj ET Q q 0 0 0 rg BT 499.03 438.60 Td (SUs and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 426.60 Td (DSUs r) Tj ET Q q 0 0 0 rg BT 80.69 426.60 Td (eceiv) Tj ET Q q 0 0 0 rg BT 101.58 426.60 Td (e dividends in the f) Tj ET Q q 0 0 0 rg BT 178.58 426.60 Td (orm of additional units when the Compan) Tj ET Q q 0 0 0 rg BT 348.05 426.60 Td (y declar) Tj ET Q q 0 0 0 rg BT 379.73 426.60 Td (es dividends on its c) Tj ET Q q 0 0 0 rg BT 460.90 426.60 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 512.25 426.60 Td (es.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 410.1 m 255.5 410.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 410.1 m 275.5 410.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 410.1 m 330.5 410.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 410.1 m 350.5 410.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 410.1 m 404.5 410.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 410.1 m 423.5 410.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 410.1 m 478.5 410.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 410.1 m 498.5 410.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 410.1 m 553.5 410.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 384.1 m 255.5 384.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 255.5 384.1 m 275.5 384.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 275.5 384.1 m 330.5 384.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 384.1 m 350.5 384.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 350.5 384.1 m 404.5 384.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404.5 384.1 m 423.5 384.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423.5 384.1 m 478.5 384.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 384.1 m 498.5 384.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 384.1 m 553.5 384.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 384.1 m 255.5 384.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 363.1 m 255.5 363.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 255.5 384.1 m 275.5 384.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 255.5 363.1 m 275.5 363.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 275.5 384.1 m 330.5 384.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 275.5 363.1 m 330.5 363.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 384.1 m 350.5 384.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 363.1 m 350.5 363.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 350.5 384.1 m 404.5 384.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 350.5 363.1 m 404.5 363.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404.5 384.1 m 423.5 384.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404.5 363.1 m 423.5 363.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423.5 384.1 m 478.5 384.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423.5 363.1 m 478.5 363.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 384.1 m 498.5 384.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 363.1 m 498.5 363.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 384.1 m 553.5 384.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 363.1 m 553.5 363.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 298.1 m 553.5 298.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 298.1 m 255.5 298.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 255.5 298.1 m 275.5 298.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 275.5 298.1 m 330.5 298.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330.5 298.1 m 350.5 298.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 350.5 298.1 m 404.5 298.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404.5 298.1 m 423.5 298.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423.5 298.1 m 478.5 298.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 298.1 m 498.5 298.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 298.1 m 553.5 298.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 283.1 m 255.5 283.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 260.1 m 255.5 260.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 283.1 m 275.5 283.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 260.1 m 275.5 260.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 283.1 m 330.5 283.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 260.1 m 330.5 260.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 283.1 m 350.5 283.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 260.1 m 350.5 260.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 283.1 m 404.5 283.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 260.1 m 404.5 260.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 283.1 m 423.5 283.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 260.1 m 423.5 260.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 283.1 m 478.5 283.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 260.1 m 478.5 260.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 283.1 m 498.5 283.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 260.1 m 498.5 260.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 283.1 m 553.5 283.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 260.1 m 553.5 260.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 238.10000000000002 m 255.5 238.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 238.10000000000002 m 275.5 238.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 238.10000000000002 m 330.5 238.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 238.10000000000002 m 350.5 238.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 238.10000000000002 m 404.5 238.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 238.10000000000002 m 423.5 238.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 238.10000000000002 m 478.5 238.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 238.10000000000002 m 498.5 238.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 238.10000000000002 m 553.5 238.10000000000002 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 401.60 Td (\(in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 57.00 388.60 Td (Three months ended March 31) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 384.75 388.60 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 533.75 388.60 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 297.65 375.60 Td (De) Tj ET Q q 0 0 0 rg BT 306.66 375.60 Td (f) Tj ET Q q 0 0 0 rg BT 309.05 375.60 Td (err) Tj ET Q q 0 0 0 rg BT 318.68 375.60 Td (ed) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 288.90 367.60 Td (Shar) Tj ET Q q 0 0 0 rg BT 303.68 367.60 Td (e Units) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.55 375.60 Td (R) Tj ET Q q 0 0 0 rg BT 371.94 375.60 Td (es) Tj ET Q q 0 0 0 rg BT 379.07 375.60 Td (trict) Tj ET Q q 0 0 0 rg BT 392.67 375.60 Td (ed) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.90 367.60 Td (Shar) Tj ET Q q 0 0 0 rg BT 377.68 367.60 Td (e Units) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 446.25 375.60 Td (De) Tj ET Q q 0 0 0 rg BT 455.08 375.60 Td (f) Tj ET Q q 0 0 0 rg BT 457.32 375.60 Td (err) Tj ET Q q 0 0 0 rg BT 466.78 375.60 Td (ed) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 437.80 367.60 Td (Shar) Tj ET Q q 0 0 0 rg BT 452.19 367.60 Td (e Units) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 517.30 375.60 Td (R) Tj ET Q q 0 0 0 rg BT 521.50 375.60 Td (es) Tj ET Q q 0 0 0 rg BT 528.52 375.60 Td (trict) Tj ET Q q 0 0 0 rg BT 541.80 375.60 Td (ed) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 512.80 367.60 Td (Shar) Tj ET Q q 0 0 0 rg BT 527.19 367.60 Td (e Units) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 353.85 Td (Outstanding at beginning of period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 313.45 353.85 Td (452) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 387.45 353.85 Td (328) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 461.55 353.85 Td (393) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.55 353.85 Td (286) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 340.85 Td (Granted \(a\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.55 340.85 Td (9) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 392.00 340.85 Td (19) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.10 340.85 Td (10) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.55 340.85 Td (101) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 327.85 Td (Dividends declared) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.55 327.85 Td (4) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 396.55 327.85 Td (3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 470.65 327.85 Td (5) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 545.65 327.85 Td (5) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 314.85 Td (Exercised) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 315.20 314.85 Td (\(77) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 327.15 314.85 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 393.75 314.85 Td (\(3) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 401.15 314.85 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 467.10 314.85 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.10 314.85 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 301.85 Td (Forfeited) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 319.00 301.85 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 393.75 301.85 Td (\(3) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 401.15 301.85 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 467.10 301.85 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.10 301.85 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 287.85 Td (Outstanding at end of period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 313.45 287.85 Td (388) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 387.45 287.85 Td (344) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 461.55 287.85 Td (408) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.55 287.85 Td (392) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 273.85 Td (Share units available to be granted based on the) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 264.85 Td (current reserve) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 313.45 264.85 Td (290) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 387.45 264.85 Td (486) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 461.55 264.85 Td (172) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.55 264.85 Td (378) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 250.85 Td (Expense r) Tj ET Q q 0 0 0 rg BT 92.28 250.85 Td (ec) Tj ET Q q 0 0 0 rg BT 100.49 250.85 Td (or) Tj ET Q q 0 0 0 rg BT 108.25 250.85 Td (ded f) Tj ET Q q 0 0 0 rg BT 126.78 250.85 Td (or the period ) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 176.87 250.85 Td (\(thousands of ) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 66.00 242.60 Td (Canadian dollars\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 278.00 242.85 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 313.45 242.85 Td (403) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 353.00 242.85 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 387.45 242.85 Td (342) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 426.00 242.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 461.55 242.85 Td (223) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 501.00 242.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.55 242.85 Td (351) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 220.60 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 72.00 220.60 Td (The f) Tj ET Q q 0 0 0 rg BT 92.22 220.60 Td (air v) Tj ET Q q 0 0 0 rg BT 109.42 220.60 Td (alue of the DSUs gr) Tj ET Q q 0 0 0 rg BT 186.75 220.60 Td (an) Tj ET Q q 0 0 0 rg BT 196.70 220.60 Td (t) Tj ET Q q 0 0 0 rg BT 199.94 220.60 Td (ed during the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 256.78 220.60 Td (thr) Tj ET Q q 0 0 0 rg BT 268.74 220.60 Td (ee mon) Tj ET Q q 0 0 0 rg BT 299.37 220.60 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 358.80 220.60 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 405.71 220.60 Td ( w) Tj ET Q q 0 0 0 rg BT 415.01 220.60 Td (as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 425.97 220.60 Td ($0.2 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 473.66 220.60 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 478.95 220.60 Td (thr) Tj ET Q q 0 0 0 rg BT 490.91 220.60 Td (ee ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 208.60 Td (mon) Tj ET Q q 0 0 0 rg BT 90.42 208.60 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 149.85 208.60 Td (ch 31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 196.76 208.60 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 206.26 208.60 Td ($0.2 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 253.95 208.60 Td (\), measur) Tj ET Q q 0 0 0 rg BT 292.01 208.60 Td (ed based on the Compan) Tj ET Q q 0 0 0 rg BT 393.28 208.60 Td (y) Tj ET Q q 0 0 0 rg BT 398.11 208.60 Td () Tj ET Q q 0 0 0 rg BT 399.99 208.60 Td (s pr) Tj ET Q q 0 0 0 rg BT 414.77 208.60 Td (e) Tj ET Q q 0 0 0 rg BT 419.70 208.60 Td (v) Tj ET Q q 0 0 0 rg BT 424.07 208.60 Td (ailing shar) Tj ET Q q 0 0 0 rg BT 465.28 208.60 Td (e price on the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 196.60 Td (da) Tj ET Q q 0 0 0 rg BT 81.95 196.60 Td (t) Tj ET Q q 0 0 0 rg BT 85.19 196.60 Td (e of gr) Tj ET Q q 0 0 0 rg BT 111.00 196.60 Td (an) Tj ET Q q 0 0 0 rg BT 120.96 196.60 Td (t. The f) Tj ET Q q 0 0 0 rg BT 149.31 196.60 Td (air v) Tj ET Q q 0 0 0 rg BT 166.51 196.60 Td (alue of the R) Tj ET Q q 0 0 0 rg BT 217.81 196.60 Td (SUs gr) Tj ET Q q 0 0 0 rg BT 242.98 196.60 Td (an) Tj ET Q q 0 0 0 rg BT 252.93 196.60 Td (t) Tj ET Q q 0 0 0 rg BT 256.17 196.60 Td (ed during the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 313.02 196.60 Td (thr) Tj ET Q q 0 0 0 rg BT 324.97 196.60 Td (ee mon) Tj ET Q q 0 0 0 rg BT 355.61 196.60 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 415.04 196.60 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 461.95 196.60 Td ( w) Tj ET Q q 0 0 0 rg BT 471.24 196.60 Td (as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 482.21 196.60 Td ($0.4 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 529.89 196.60 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 184.60 Td (\() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 75.03 184.60 Td (thr) Tj ET Q q 0 0 0 rg BT 86.99 184.60 Td (ee mon) Tj ET Q q 0 0 0 rg BT 117.63 184.60 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 177.05 184.60 Td (ch 31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 223.96 184.60 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 233.46 184.60 Td ($1.6 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 281.15 184.60 Td (\), measur) Tj ET Q q 0 0 0 rg BT 319.21 184.60 Td (ed based on the Compan) Tj ET Q q 0 0 0 rg BT 420.48 184.60 Td (y) Tj ET Q q 0 0 0 rg BT 425.31 184.60 Td () Tj ET Q q 0 0 0 rg BT 427.20 184.60 Td (s shar) Tj ET Q q 0 0 0 rg BT 450.68 184.60 Td (e price on the da) Tj ET Q q 0 0 0 rg BT 518.99 184.60 Td (t) Tj ET Q q 0 0 0 rg BT 522.23 184.60 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.00 172.60 Td (of gr) Tj ET Q q 0 0 0 rg BT 90.57 172.60 Td (an) Tj ET Q q 0 0 0 rg BT 100.53 172.60 Td (t.) Tj ET Q endstream endobj 155 0 obj <> endobj 156 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (76) Tj ET Q BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 691.50 Td (15) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 68.19 691.50 Td (. NET OPERA) Tj ET Q q 0 0 0 rg BT 140.26 691.50 Td (TING INC) Tj ET Q q 0 0 0 rg BT 192.50 691.50 Td (OME) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 673.50 Td (Ne) Tj ET Q q 0 0 0 rg BT 65.38 673.50 Td (t oper) Tj ET Q q 0 0 0 rg BT 89.77 673.50 Td (a) Tj ET Q q 0 0 0 rg BT 94.47 673.50 Td (ting inc) Tj ET Q q 0 0 0 rg BT 124.03 673.50 Td (ome is as f) Tj ET Q q 0 0 0 rg BT 166.80 673.50 Td (ollo) Tj ET Q q 0 0 0 rg BT 181.90 673.50 Td (w) Tj ET Q q 0 0 0 rg BT 188.96 673.50 Td (s:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 663 m 204.5 663 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 204.5 663 m 263.5 663 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 663 m 322.5 663 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322.5 663 m 380.5 663 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 663 m 439.5 663 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 663 m 498.5 663 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 663 m 557.5 663 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 637 m 204.5 637 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 204.5 637 m 263.5 637 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 263.5 637 m 322.5 637 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 637 m 380.5 637 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 637 m 439.5 637 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 439.5 637 m 498.5 637 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 637 m 557.5 637 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 609 m 204.5 609 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 594 m 204.5 594 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 204.5 609 m 263.5 609 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 204.5 594 m 263.5 594 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 263.5 609 m 322.5 609 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 594 m 322.5 594 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 609 m 380.5 609 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322.5 594 m 380.5 594 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 609 m 439.5 609 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 594 m 439.5 594 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 439.5 609 m 498.5 609 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 594 m 498.5 594 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 609 m 557.5 609 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 594 m 557.5 594 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 654.50 Td (Three months ended March 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 236.15 649.50 Td (Cen) Tj ET Q q 0 0 0 rg BT 248.63 649.50 Td (tr) Tj ET Q q 0 0 0 rg BT 254.07 649.50 Td (al ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 237.20 641.50 Td (R) Tj ET Q q 0 0 0 rg BT 241.59 641.50 Td (egion) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 294.30 649.50 Td (E) Tj ET Q q 0 0 0 rg BT 298.10 649.50 Td (as) Tj ET Q q 0 0 0 rg BT 305.15 649.50 Td (t) Tj ET Q q 0 0 0 rg BT 307.82 649.50 Td (ern ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 296.20 641.50 Td (R) Tj ET Q q 0 0 0 rg BT 300.59 641.50 Td (egion) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.05 649.50 Td (Western) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.20 641.50 Td (Region) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.05 641.50 Td (Subtotal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.95 641.50 Td (Other ) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 489.11 645.31 Td (\(1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 537.80 641.50 Td (Total) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 641.50 Td (\(thousands of Canadian dollars\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 59.00 627.13 Td (Property rental revenue) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 207.00 628.13 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 236.60 628.13 Td (69,032) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 266.00 628.13 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 295.60 628.13 Td (43,936) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 325.00 628.13 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 353.60 628.13 Td (51,300) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 383.00 628.13 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 408.30 628.13 Td (164,268) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 442.00 628.13 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 479.75 628.13 Td (\(294) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 495.35 628.13 Td (\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 501.00 628.13 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 526.30 628.13 Td (163,974) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 59.00 613.63 Td (Property operating costs) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 236.60 613.63 Td (26,993) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 295.60 613.63 Td (20,009) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 353.60 613.63 Td (17,092) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 412.60 613.63 Td (64,094) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 479.75 613.63 Td (\(213) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 495.35 613.63 Td (\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 530.60 613.63 Td (63,881) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 57.00 598.63 Td (Net operating income) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 207.00 598.63 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 236.60 598.63 Td (42,039) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 266.00 598.63 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 295.60 598.63 Td (23,927) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 325.00 598.63 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 353.60 598.63 Td (34,208) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 383.00 598.63 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 408.30 598.63 Td (100,174) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 442.00 598.63 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 484.05 598.63 Td (\(81) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 495.35 598.63 Td (\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 501.00 598.63 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 526.30 598.63 Td (100,093) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 578 m 204.5 578 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 204.5 578 m 263.5 578 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 578 m 322.5 578 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322.5 578 m 380.5 578 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 578 m 439.5 578 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 578 m 498.5 578 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 578 m 557.5 578 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 552 m 204.5 552 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 204.5 552 m 263.5 552 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 263.5 552 m 322.5 552 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 552 m 380.5 552 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 552 m 439.5 552 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 439.5 552 m 498.5 552 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 552 m 557.5 552 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 524 m 204.5 524 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 509 m 204.5 509 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 204.5 524 m 263.5 524 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 204.5 509 m 263.5 509 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 263.5 524 m 322.5 524 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 509 m 322.5 509 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322.5 524 m 380.5 524 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322.5 509 m 380.5 509 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 524 m 439.5 524 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 509 m 439.5 509 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 439.5 524 m 498.5 524 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 509 m 498.5 509 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498.5 524 m 557.5 524 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 509 m 557.5 509 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 569.50 Td (Three months ended March 31, 2014) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 236.65 564.50 Td (Cen) Tj ET Q q 0 0 0 rg BT 249.03 564.50 Td (tr) Tj ET Q q 0 0 0 rg BT 254.33 564.50 Td (al ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 237.75 556.50 Td (R) Tj ET Q q 0 0 0 rg BT 241.95 556.50 Td (egion) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 294.75 564.50 Td (E) Tj ET Q q 0 0 0 rg BT 298.52 564.50 Td (as) Tj ET Q q 0 0 0 rg BT 305.39 564.50 Td (t) Tj ET Q q 0 0 0 rg BT 307.99 564.50 Td (ern ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.75 556.50 Td (R) Tj ET Q q 0 0 0 rg BT 300.95 556.50 Td (egion) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.55 564.50 Td (Western) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 354.75 556.50 Td (Region) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 408.85 556.50 Td (Subtotal) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 468.45 556.50 Td (Other ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 489.21 560.31 Td (\(1\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.30 556.50 Td (Total) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 556.50 Td (\(thousands of Canadian dollars\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 59.00 542.13 Td (Property rental revenue) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 207.00 543.13 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 236.70 543.13 Td (70,081) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 266.00 543.13 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 295.70 543.13 Td (41,872) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 325.00 543.13 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 353.70 543.13 Td (51,061) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 383.00 543.13 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 408.40 543.13 Td (163,014) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 442.00 543.13 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 479.85 543.13 Td (\(147) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 495.40 543.13 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 501.00 543.13 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 526.40 543.13 Td (162,867) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 59.00 529.13 Td (Property operating costs) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 236.70 528.63 Td (27,776) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 295.70 528.63 Td (18,743) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 353.70 528.63 Td (17,548) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 412.70 528.63 Td (64,067) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 482.45 528.63 Td (216) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 530.70 528.63 Td (64,283) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 59.00 514.13 Td (Net operating income) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 207.00 513.63 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 236.70 513.63 Td (42,305) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 266.00 513.63 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 295.70 513.63 Td (23,129) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 325.00 513.63 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 353.70 513.63 Td (33,513) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 383.00 513.63 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 412.70 513.63 Td (98,947) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 442.00 513.63 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 479.85 513.63 Td (\(363) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 495.40 513.63 Td (\)) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 501.00 513.63 Td ($) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 530.70 513.63 Td (98,584) Tj ET Q BT /F1 10.00 Tf ET BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 500.69 Td (\(1\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 497.35 Td (Other it) Tj ET Q q 0 0 0 rg BT 85.04 497.35 Td (ems principally c) Tj ET Q q 0 0 0 rg BT 132.30 497.35 Td (onsis) Tj ET Q q 0 0 0 rg BT 146.67 497.35 Td (ts of oper) Tj ET Q q 0 0 0 rg BT 173.90 497.35 Td (a) Tj ET Q q 0 0 0 rg BT 177.18 497.35 Td (ting c) Tj ET Q q 0 0 0 rg BT 192.59 497.35 Td (os) Tj ET Q q 0 0 0 rg BT 198.94 497.35 Td (ts and other adjus) Tj ET Q q 0 0 0 rg BT 250.16 497.35 Td (tmen) Tj ET Q q 0 0 0 rg BT 265.19 497.35 Td (ts not a) Tj ET Q q 0 0 0 rg BT 286.44 497.35 Td (t) Tj ET Q q 0 0 0 rg BT 288.69 497.35 Td (tribut) Tj ET Q q 0 0 0 rg BT 304.69 497.35 Td (able t) Tj ET Q q 0 0 0 rg BT 320.67 497.35 Td (o a r) Tj ET Q q 0 0 0 rg BT 333.23 497.35 Td (egion.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 479.35 Td (Pr) Tj ET Q q 0 0 0 rg BT 62.49 479.35 Td (operty oper) Tj ET Q q 0 0 0 rg BT 110.40 479.35 Td (a) Tj ET Q q 0 0 0 rg BT 115.10 479.35 Td (ting c) Tj ET Q q 0 0 0 rg BT 137.11 479.35 Td (os) Tj ET Q q 0 0 0 rg BT 146.18 479.35 Td (ts f) Tj ET Q q 0 0 0 rg BT 158.55 479.35 Td (or the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 185.41 479.35 Td (thr) Tj ET Q q 0 0 0 rg BT 197.36 479.35 Td (ee mon) Tj ET Q q 0 0 0 rg BT 228.00 479.35 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 287.43 479.35 Td (ch 31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 334.34 479.35 Td ( include ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 368.41 479.35 Td ($5.4 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 416.10 479.35 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 421.39 479.35 Td (thr) Tj ET Q q 0 0 0 rg BT 433.35 479.35 Td (ee mon) Tj ET Q q 0 0 0 rg BT 463.99 479.35 Td (ths ended Mar) Tj ET Q q 0 0 0 rg BT 523.41 479.35 Td (ch 31, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 467.35 Td (2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.27 467.35 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 83.78 467.35 Td ($5.9 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 131.46 467.35 Td (\) r) Tj ET Q q 0 0 0 rg BT 140.11 467.35 Td (ela) Tj ET Q q 0 0 0 rg BT 152.08 467.35 Td (t) Tj ET Q q 0 0 0 rg BT 155.32 467.35 Td (ed t) Tj ET Q q 0 0 0 rg BT 171.06 467.35 Td (o emplo) Tj ET Q q 0 0 0 rg BT 204.33 467.35 Td (y) Tj ET Q q 0 0 0 rg BT 208.73 467.35 Td (ee c) Tj ET Q q 0 0 0 rg BT 225.09 467.35 Td (ompensa) Tj ET Q q 0 0 0 rg BT 262.44 467.35 Td (tion.) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 438.55 Td (16) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 68.19 438.55 Td (. 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/GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 396.05 m 483.5 396.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 409.05 m 503.5 409.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 396.05 m 503.5 396.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 409.05 m 558.5 409.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 396.05 m 558.5 396.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 357.05 m 396.5 357.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 343.05 m 396.5 343.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 396.5 357.05 m 428.5 357.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 343.05 m 428.5 343.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 357.05 m 483.5 357.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 343.05 m 483.5 343.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 357.05 m 503.5 357.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 343.05 m 503.5 343.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 357.05 m 558.5 357.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 343.05 m 558.5 343.05 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 454.65 413.55 Td (Three months ended March 31) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 400.55 Td (\(thousands of Canadian dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 403.85 400.55 Td (Note) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.75 400.55 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.75 400.55 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 386.80 Td (Interest, dividend and distribution income from marketable securities and cash investments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 409.70 386.80 Td (6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 386.80 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.45 386.80 Td (650) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 386.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 386.80 Td (859) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 373.80 Td (Interest income from loans and mortgages receivable) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 409.70 373.80 Td (6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 373.80 Td (2,784) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 373.80 Td (1,751) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 360.80 Td (Fees and other income) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.45 360.80 Td (534) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.10 360.80 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 347.80 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 347.80 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 347.80 Td (3,968) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 347.80 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 347.80 Td (2,610) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 157 0 obj <> endobj 158 0 obj <> stream BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.00 736.70 Td (NO) Tj ET Q q 0 0 0 rg BT 66.82 736.70 Td (TE) Tj ET Q q 0 0 0 rg BT 75.58 736.70 Td (S T) Tj ET Q q 0 0 0 rg BT 86.08 736.70 Td (O THE INTERIM C) Tj ET Q q 0 0 0 rg BT 150.00 736.70 Td (ONSOLID) Tj ET Q q 0 0 0 rg BT 184.02 736.70 Td (A) Tj ET Q q 0 0 0 rg BT 188.77 736.70 Td (TED FINANCIAL S) Tj ET Q q 0 0 0 rg BT 251.79 736.70 Td (T) Tj ET Q q 0 0 0 rg BT 255.54 736.70 Td (A) Tj ET Q q 0 0 0 rg BT 260.29 736.70 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 291.73 736.70 Td (S c) Tj ET Q q 0 0 0 rg BT 308.26 736.70 Td (on) Tj ET Q q 0 0 0 rg BT 317.84 736.70 Td (tinued) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 52.5 67 m 77.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77.5 67 m 531.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531.5 67 m 558.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 55.00 57.00 Td (77) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 80.00 57.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 691.50 Td (17) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 68.19 691.50 Td (. INTERE) Tj ET Q q 0 0 0 rg BT 116.38 691.50 Td (S) Tj ET Q q 0 0 0 rg BT 122.87 691.50 Td (T EXPENSE) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 675 m 403.5 675 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 664 m 403.5 664 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 675 m 428.5 675 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 675 m 483.5 675 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 675 m 503.5 675 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 675 m 558.5 675 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 651 m 403.5 651 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 664 m 428.5 664 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 651 m 428.5 651 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 664 m 483.5 664 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 651 m 483.5 651 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 664 m 503.5 664 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 651 m 503.5 651 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 664 m 558.5 664 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 651 m 558.5 651 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 569 m 403.5 569 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 569 m 428.5 569 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 569 m 483.5 569 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 569 m 503.5 569 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 569 m 558.5 569 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 541 m 483.5 541 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 541 m 503.5 541 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 541 m 558.5 541 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 541 m 403.5 541 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 527 m 403.5 527 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 541 m 428.5 541 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 527 m 428.5 527 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 541 m 483.5 541 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 527 m 483.5 527 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 541 m 503.5 541 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 527 m 503.5 527 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 541 m 558.5 541 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 527 m 558.5 527 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 434 m 403.5 434 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 419 m 403.5 419 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 434 m 428.5 434 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 419 m 428.5 419 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 434 m 483.5 434 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 419 m 483.5 419 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 434 m 503.5 434 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 419 m 503.5 419 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 434 m 558.5 434 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 419 m 558.5 419 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 454.65 666.50 Td (Three months ended March 31) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 655.50 Td (\(thousands of Canadian dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.35 655.50 Td (Note) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.75 655.50 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.75 655.50 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 641.75 Td (Mortgages and credit facilities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 641.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 641.75 Td (14,361) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 641.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 641.75 Td (16,516) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 628.75 Td (Senior unsecured debentures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 628.75 Td (26,153) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 628.75 Td (24,940) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 615.75 Td (Convertible debentures) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 601.75 Td (Coupon interest) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 601.75 Td (4,870) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 601.75 Td (4,921) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 587.75 Td (Accretion of discounts) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.45 587.75 Td (400) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 587.75 Td (386) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 573.75 Td (Amortization of deferred issue costs) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.45 573.75 Td (650) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 573.75 Td (534) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 559.75 Td (Total interest expense) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 559.75 Td (46,434) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 559.75 Td (47,297) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 545.75 Td (Interest capitalized to investment properties) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 456.75 545.75 Td (\(4,946) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 545.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 545.75 Td (\(4,940) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 545.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 531.75 Td (Interest expense) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 531.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 531.75 Td (41,488) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 531.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 531.75 Td (42,357) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 517.75 Td (Convertible debenture interest paid in common shares) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 410.90 517.75 Td (12) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 456.75 517.75 Td (\(9,835) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 517.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 517.75 Td (\(9,980) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 517.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 503.75 Td (Change in accrued interest) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 503.75 Td (9,889) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 503.75 Td (\(2,194) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 503.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 489.75 Td (Effective interest rate in excess of coupon rate on senior unsecured and convertible) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 480.75 Td (debentures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 463.65 480.75 Td (\(230) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 480.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.80 480.75 Td (\(351) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 480.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 466.75 Td (Effective interest in excess of coupon interest on assumed mortgages) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.45 466.75 Td (937) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 466.75 Td (1,105) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 452.75 Td (Other non-cash interest expense) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 456.75 452.75 Td (\(1,654) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 452.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 452.75 Td (\(1,366) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 452.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 438.75 Td (Interest capitalized to investment properties and residential development inventory) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 438.75 Td (4,946) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 438.75 Td (4,940) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 423.75 Td (Cash interest paid) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 423.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 423.75 Td (45,541) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 423.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 423.75 Td (34,511) Tj ET Q BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 390.70 Td (18) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 68.19 390.70 Td (. C) Tj ET Q q 0 0 0 rg BT 82.40 390.70 Td (ORPORA) Tj ET Q q 0 0 0 rg BT 131.94 390.70 Td (TE EXPENSE) Tj ET Q q 0 0 0 rg BT 200.22 390.70 Td (S) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 374.20000000000005 m 428.5 374.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 374.20000000000005 m 483.5 374.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 361.20000000000005 m 483.5 361.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 374.20000000000005 m 503.5 374.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 361.20000000000005 m 503.5 361.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 374.20000000000005 m 558.5 374.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 361.20000000000005 m 558.5 361.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 361.20000000000005 m 428.5 361.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 347.20000000000005 m 428.5 347.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 361.20000000000005 m 483.5 361.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 347.20000000000005 m 483.5 347.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 361.20000000000005 m 503.5 361.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 347.20000000000005 m 503.5 347.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 361.20000000000005 m 558.5 361.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 347.20000000000005 m 558.5 347.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 347.20000000000005 m 503.5 347.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 347.20000000000005 m 558.5 347.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 297.20000000000005 m 428.5 297.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 297.20000000000005 m 483.5 297.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 297.20000000000005 m 503.5 297.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 297.20000000000005 m 558.5 297.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 297.20000000000005 m 483.5 297.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 297.20000000000005 m 503.5 297.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 297.20000000000005 m 558.5 297.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 271.20000000000005 m 428.5 271.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 257.20000000000005 m 428.5 257.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 271.20000000000005 m 483.5 271.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 257.20000000000005 m 483.5 257.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 271.20000000000005 m 503.5 271.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 257.20000000000005 m 503.5 257.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 271.20000000000005 m 558.5 271.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 257.20000000000005 m 558.5 257.20000000000005 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 448.65 365.70 Td (Three months ended March 31) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 351.70 Td (\(thousands of Canadian dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.75 351.70 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.75 351.70 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 326.95 Td (Salaries, wages and benefits) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 326.95 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 326.95 Td (7,942) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 326.95 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 326.95 Td (6,242) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 313.95 Td (Non-cash compensation) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.45 313.95 Td (782) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 313.95 Td (648) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 300.95 Td (Other corporate costs) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 300.95 Td (3,107) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 300.95 Td (2,675) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 287.95 Td (Total corporate expenses) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 287.95 Td (11,831) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 287.95 Td (9,565) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 274.95 Td (Amounts capitalized to investment properties under development) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 456.75 274.95 Td (\(2,089) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 274.95 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 274.95 Td (\(1,549) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 274.95 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 261.95 Td (Corporate expenses) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 434.00 261.95 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 261.95 Td (9,742) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 261.95 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 261.95 Td (8,016) Tj ET Q BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 228.95 Td (19) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 68.19 228.95 Td (. 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0 d 0 J 0 j 3 M 428.5 379.79999999999995 m 483.5 379.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 392.79999999999995 m 503.5 392.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 379.79999999999995 m 503.5 379.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 392.79999999999995 m 558.5 392.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 379.79999999999995 m 558.5 379.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 366.79999999999995 m 428.5 366.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 366.79999999999995 m 483.5 366.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 366.79999999999995 m 503.5 366.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 366.79999999999995 m 558.5 366.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 338.79999999999995 m 428.5 338.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 324.79999999999995 m 428.5 324.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 338.79999999999995 m 483.5 338.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 324.79999999999995 m 483.5 324.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 338.79999999999995 m 503.5 338.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 324.79999999999995 m 503.5 324.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 338.79999999999995 m 558.5 338.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 324.79999999999995 m 558.5 324.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 268.79999999999995 m 428.5 268.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 254.79999999999995 m 428.5 254.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 268.79999999999995 m 483.5 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(Three months ended March 31) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 371.30 Td (\(thousands of Canadian dollars, except per share amounts and other data\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.75 371.30 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.75 371.30 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 357.55 Td (Net income attributable to common shareholders) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 357.55 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 357.55 Td (45,901) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 357.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 357.55 Td (35,214) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 343.55 Td (Adjustment for dilutive effect of convertible debentures, net of tax) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.45 343.55 Td (525) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.10 343.55 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 329.55 Td (Income for diluted per share amounts) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 329.55 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 329.55 Td (46,426) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 329.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 329.55 Td (35,214) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 57.00 315.55 Td (\(in thousands\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 301.55 Td (Weighted average number of shares outstanding for basic per share amounts) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 450.45 301.55 Td (220,241) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.60 301.55 Td (209,127) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 287.55 Td (Options) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.45 287.55 Td (620) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 287.55 Td (470) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 273.55 Td (Convertible debentures) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 273.55 Td (2,791) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.10 273.55 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 259.55 Td (Weighted average diluted share amounts) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 450.45 259.55 Td (223,652) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.60 259.55 Td (209,597) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 245.55 Td (Basic net income per share attributable to common shareholders) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 245.55 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 464.05 245.55 Td (0.21) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 245.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 539.25 245.55 Td (0.17) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 231.55 Td (Diluted net income per share attributable to common shareholders) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 231.55 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 464.05 231.55 Td (0.21) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 231.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 539.25 231.55 Td (0.17) Tj ET Q BT /F1 10.00 Tf ET endstream 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63.95 682.50 Td (ti-dilutiv) Tj ET Q q 0 0 0 rg BT 97.82 682.50 Td (e:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 672 m 299.5 672 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 672 m 364.5 672 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 672 m 419.5 672 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 672 m 435.5 672 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 672 m 500.5 672 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 672 m 555.5 672 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 659 m 299.5 659 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 299.5 659 m 364.5 659 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364.5 659 m 419.5 659 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 659 m 435.5 659 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 435.5 659 m 500.5 659 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 500.5 659 m 555.5 659 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 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Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 650.50 Td (\(in Canadian dollars, number of options in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 316.05 650.50 Td (Exercise Price) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.75 650.50 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 452.90 650.50 Td (Exercise Price) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 535.75 650.50 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 635.75 Td (Common share options) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 302.00 636.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 353.00 636.75 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 408.00 636.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.00 636.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 476.70 636.75 Td (17.77) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.55 636.75 Td (494) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 622.75 Td (Common share options) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 302.00 623.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 353.00 623.75 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 408.00 623.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.00 623.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 476.70 623.75 Td (17.90) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.55 623.75 Td (821) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 609.75 Td (Common share options) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 302.00 610.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 353.00 610.75 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 408.00 610.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.00 610.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 476.70 610.75 Td (18.97) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.55 610.75 Td (979) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 596.75 Td (Common share options) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 302.00 597.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 340.50 597.75 Td (19.96) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 402.45 597.75 Td (301) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.00 597.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 489.10 597.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 544.10 597.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 583.75 Td (Convertible debentures - 5.70%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 302.00 584.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 340.50 584.75 Td (18.75) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 395.55 584.75 Td (2,287) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.00 584.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 476.70 584.75 Td (18.75) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.75 584.75 Td (2,357) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 570.75 Td (Convertible debentures - 5.40%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 302.00 571.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 340.50 571.75 Td (22.62) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 395.55 571.75 Td (2,780) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.00 571.75 Td ($) Tj ET Q BT 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ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.75 545.75 Td (2,747) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 531.75 Td (Convertible debentures - 4.95%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 302.00 532.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 340.50 532.75 Td (23.75) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 395.55 532.75 Td (3,562) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.00 532.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 476.70 532.75 Td (23.75) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.75 532.75 Td (4,120) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 518.75 Td (Convertible debentures - 4.75%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 307.80 519.75 Td ($26.75-$27.75) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 395.55 519.75 Td (2,572) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 444.05 519.75 Td ($26.75-$27.75) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.75 519.75 Td (2,884) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 505.75 Td (Convertible debentures - 4.45%) Tj ET Q BT 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Tf ET q 0 0 0 rg BT 458.24 482.50 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.53 482.50 Td (thr) Tj ET Q q 0 0 0 rg BT 475.49 482.50 Td (ee mon) Tj ET Q q 0 0 0 rg BT 506.12 482.50 Td (ths ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 470.50 Td (ended Mar) Tj ET Q q 0 0 0 rg BT 98.65 470.50 Td (ch 31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 145.56 470.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 155.06 470.50 Td ($0.21) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 177.86 470.50 Td (\).) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 441.70 Td (22) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 68.19 441.70 Td (. 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Fr) Tj ET Q q 0 0 0 rg BT 167.17 349.30 Td (om time t) Tj ET Q q 0 0 0 rg BT 206.81 349.30 Td (o time, the Compan) Tj ET Q q 0 0 0 rg BT 287.26 349.30 Td (y ma) Tj ET Q q 0 0 0 rg BT 306.64 349.30 Td (y en) Tj ET Q q 0 0 0 rg BT 323.56 349.30 Td (t) Tj ET Q q 0 0 0 rg BT 326.80 349.30 Td (er in) Tj ET Q q 0 0 0 rg BT 344.98 349.30 Td (t) Tj ET Q q 0 0 0 rg BT 348.23 349.30 Td (o in) Tj ET Q q 0 0 0 rg BT 363.22 349.30 Td (t) Tj ET Q q 0 0 0 rg BT 366.47 349.30 Td (er) Tj ET Q q 0 0 0 rg BT 374.80 349.30 Td (es) Tj ET Q q 0 0 0 rg BT 383.57 349.30 Td (t r) Tj ET Q q 0 0 0 rg BT 392.46 349.30 Td (a) Tj ET Q q 0 0 0 rg BT 397.16 349.30 Td (t) Tj ET Q q 0 0 0 rg BT 400.40 349.30 Td (e s) Tj ET Q q 0 0 0 rg BT 411.50 349.30 Td (w) Tj ET Q q 0 0 0 rg BT 418.54 349.30 Td (ap c) Tj ET Q q 0 0 0 rg BT 434.99 349.30 Td (on) Tj ET Q q 0 0 0 rg BT 445.42 349.30 Td (tr) Tj ET Q q 0 0 0 rg BT 452.05 349.30 Td (acts or other financial ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 337.30 Td (ins) Tj ET Q q 0 0 0 rg BT 65.35 337.30 Td (trumen) Tj ET Q q 0 0 0 rg BT 95.56 337.30 Td (ts t) Tj ET Q q 0 0 0 rg BT 108.34 337.30 Td (o modif) Tj ET Q q 0 0 0 rg BT 139.78 337.30 Td (y the in) Tj ET Q q 0 0 0 rg BT 169.86 337.30 Td (t) Tj ET Q q 0 0 0 rg BT 173.11 337.30 Td (er) Tj ET Q q 0 0 0 rg BT 181.44 337.30 Td (es) Tj ET Q q 0 0 0 rg BT 190.21 337.30 Td (t r) Tj ET Q q 0 0 0 rg BT 199.10 337.30 Td (a) Tj ET Q q 0 0 0 rg BT 203.80 337.30 Td (t) Tj ET Q q 0 0 0 rg BT 207.04 337.30 Td (e pr) Tj ET Q q 0 0 0 rg BT 222.86 337.30 Td (ofile of its outs) Tj ET Q q 0 0 0 rg BT 283.09 337.30 Td (t) Tj ET Q q 0 0 0 rg BT 286.31 337.30 Td (anding deb) Tj ET Q q 0 0 0 rg BT 331.57 337.30 Td (t or highly pr) Tj ET Q q 0 0 0 rg BT 383.37 337.30 Td (obable futur) Tj ET Q q 0 0 0 rg BT 433.74 337.30 Td (e deb) Tj ET Q q 0 0 0 rg BT 456.41 337.30 Td (t issuances without an ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 325.30 Td (e) Tj ET Q q 0 0 0 rg BT 58.82 325.30 Td (x) Tj ET Q q 0 0 0 rg BT 62.93 325.30 Td (chang) Tj ET Q q 0 0 0 rg BT 87.08 325.30 Td (e of the underlying principal amoun) Tj ET Q q 0 0 0 rg BT 232.18 325.30 Td (t. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 301.90 Td (\(b\) Cr) Tj ET Q q 0 0 0 rg BT 81.11 301.90 Td (edit risk) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 286.90 Td (Cr) Tj ET Q q 0 0 0 rg BT 62.69 286.90 Td (edit risk arises fr) Tj ET Q q 0 0 0 rg BT 129.33 286.90 Td (om the possibility tha) Tj ET Q q 0 0 0 rg BT 216.91 286.90 Td (t t) Tj ET Q q 0 0 0 rg BT 225.76 286.90 Td (enan) Tj ET Q q 0 0 0 rg BT 245.94 286.90 Td (ts and/) Tj ET Q q 0 0 0 rg BT 274.45 286.90 Td (or deb) Tj ET Q q 0 0 0 rg BT 300.91 286.90 Td (t) Tj ET Q q 0 0 0 rg BT 304.17 286.90 Td (or) Tj ET Q q 0 0 0 rg BT 312.75 286.90 Td (s ma) Tj ET Q q 0 0 0 rg BT 331.52 286.90 Td (y e) Tj ET Q q 0 0 0 rg BT 343.13 286.90 Td (xperience financial dif) Tj ET Q q 0 0 0 rg BT 432.18 286.90 Td (ficulty and be unable or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 274.95 Td (un) Tj ET Q q 0 0 0 rg BT 64.44 274.95 Td (willing t) Tj ET Q q 0 0 0 rg BT 96.24 274.95 Td (o fulfill their lease c) Tj ET Q q 0 0 0 rg BT 175.55 274.95 Td (ommitmen) Tj ET Q q 0 0 0 rg BT 220.57 274.95 Td (ts or loan oblig) Tj ET Q q 0 0 0 rg BT 280.62 274.95 Td (a) Tj ET Q q 0 0 0 rg BT 285.32 274.95 Td (tions. The Compan) Tj ET Q q 0 0 0 rg BT 361.26 274.95 Td (y mitig) Tj ET Q q 0 0 0 rg BT 388.49 274.95 Td (a) Tj ET Q q 0 0 0 rg BT 393.19 274.95 Td (t) Tj ET Q q 0 0 0 rg BT 396.43 274.95 Td (es the risk of cr) Tj ET Q q 0 0 0 rg BT 458.09 274.95 Td (edit loss b) Tj ET Q q 0 0 0 rg BT 499.08 274.95 Td (y in) Tj ET Q q 0 0 0 rg BT 513.25 274.95 Td (v) Tj ET Q q 0 0 0 rg BT 517.67 274.95 Td (es) Tj ET Q q 0 0 0 rg BT 526.44 274.95 Td (ting ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 262.95 Td (in w) Tj ET Q q 0 0 0 rg BT 70.87 262.95 Td (ell-loc) Tj ET Q q 0 0 0 rg BT 95.21 262.95 Td (a) Tj ET Q q 0 0 0 rg BT 99.91 262.95 Td (t) Tj ET Q q 0 0 0 rg BT 103.15 262.95 Td (ed pr) Tj ET Q q 0 0 0 rg BT 124.22 262.95 Td (operties in urban mark) Tj ET Q q 0 0 0 rg BT 216.60 262.95 Td (e) Tj ET Q q 0 0 0 rg BT 221.52 262.95 Td (ts tha) Tj ET Q q 0 0 0 rg BT 244.34 262.95 Td (t a) Tj ET Q q 0 0 0 rg BT 254.65 262.95 Td (t) Tj ET Q q 0 0 0 rg BT 257.86 262.95 Td (tr) Tj ET Q q 0 0 0 rg BT 264.49 262.95 Td (act high quality t) Tj ET Q q 0 0 0 rg BT 332.15 262.95 Td (enan) Tj ET Q q 0 0 0 rg BT 352.33 262.95 Td (ts, ensuring tha) Tj ET Q q 0 0 0 rg BT 415.05 262.95 Td (t its t) Tj ET Q q 0 0 0 rg BT 435.72 262.95 Td (enan) Tj ET Q q 0 0 0 rg BT 455.90 262.95 Td (t mix is div) Tj ET Q q 0 0 0 rg BT 498.82 262.95 Td (er) Tj ET Q q 0 0 0 rg BT 507.11 262.95 Td (sified, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 250.95 Td (b) Tj ET Q q 0 0 0 rg BT 59.21 250.95 Td (y limiting its e) Tj ET Q q 0 0 0 rg BT 115.37 250.95 Td (xposur) Tj ET Q q 0 0 0 rg BT 142.75 250.95 Td (e t) Tj ET Q q 0 0 0 rg BT 153.24 250.95 Td (o an) Tj ET Q q 0 0 0 rg BT 170.63 250.95 Td (y one t) Tj ET Q q 0 0 0 rg BT 198.42 250.95 Td (enan) Tj ET Q q 0 0 0 rg BT 218.60 250.95 Td (t. As a) Tj ET Q q 0 0 0 rg BT 243.39 250.95 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 249.00 250.95 Td (Mar) Tj ET Q q 0 0 0 rg BT 265.68 250.95 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 312.59 250.95 Td (, Lobla) Tj ET Q q 0 0 0 rg BT 339.10 250.95 Td (w Companies Limit) Tj ET Q q 0 0 0 rg BT 415.87 250.95 Td (ed \(Lobla) Tj ET Q q 0 0 0 rg BT 457.32 250.95 Td (w) Tj ET Q q 0 0 0 rg BT 464.76 250.95 Td (\) acc) Tj ET Q q 0 0 0 rg BT 487.40 250.95 Td (oun) Tj ET Q q 0 0 0 rg BT 503.09 250.95 Td (ts f) Tj ET Q q 0 0 0 rg BT 515.46 250.95 Td (or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 526.48 250.95 Td (9.9%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.29 250.95 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 238.95 Td (of the Compan) Tj ET Q q 0 0 0 rg BT 114.13 238.95 Td (y) Tj ET Q q 0 0 0 rg BT 118.96 238.95 Td () Tj ET Q q 0 0 0 rg BT 120.85 238.95 Td (s annualiz) Tj ET Q q 0 0 0 rg BT 160.67 238.95 Td (ed minimum r) Tj ET Q q 0 0 0 rg BT 217.84 238.95 Td (en) Tj ET Q q 0 0 0 rg BT 227.98 238.95 Td (t and has an in) Tj ET Q q 0 0 0 rg BT 287.05 238.95 Td (v) Tj ET Q q 0 0 0 rg BT 291.47 238.95 Td (es) Tj ET Q q 0 0 0 rg BT 300.25 238.95 Td (tmen) Tj ET Q q 0 0 0 rg BT 321.72 238.95 Td (t gr) Tj ET Q q 0 0 0 rg BT 335.32 238.95 Td (ade cr) Tj ET Q q 0 0 0 rg BT 360.18 238.95 Td (edit r) Tj ET Q q 0 0 0 rg BT 381.60 238.95 Td (a) Tj ET Q q 0 0 0 rg BT 386.29 238.95 Td (ting. 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oblig) Tj ET Q q 0 0 0 rg BT 104.95 551.75 Td (a) Tj ET Q q 0 0 0 rg BT 109.18 551.75 Td (tions ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 129.29 556.04 Td (\(1\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 301.60 551.75 Td (117,555) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 356.60 551.75 Td (280,935) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.60 551.75 Td (217,409) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.60 551.75 Td (280,512) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.60 551.75 Td (896,411) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 538.75 Td (Land leases \(expiring between 2023 and 2061\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.55 538.75 Td (726) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 365.75 538.75 Td (1,962) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.75 538.75 Td (1,989) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 471.15 538.75 Td (17,302) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.15 538.75 Td (21,979) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 525.75 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ET Q q 0 0 0 rg BT 80.38 491.75 Td (on) Tj ET Q q 0 0 0 rg BT 89.77 491.75 Td (tr) Tj ET Q q 0 0 0 rg BT 95.74 491.75 Td (actual oblig) Tj ET Q q 0 0 0 rg BT 137.68 491.75 Td (a) Tj ET Q q 0 0 0 rg BT 141.91 491.75 Td (tions ) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 162.02 496.04 Td (\(2\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 282.00 491.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 301.60 491.75 Td (423,071) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 337.00 491.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 356.60 491.75 Td (890,099) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.00 491.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.60 491.75 Td (785,543) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 447.00 491.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 459.80 491.75 Td (2,364,125) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 502.00 491.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 514.80 491.75 Td (4,462,838) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 556.00 487.50 Td ( ) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 479.44 Td (\(1\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 476.10 Td (In) Tj ET Q q 0 0 0 rg BT 68.38 476.10 Td (t) Tj ET Q q 0 0 0 rg BT 70.65 476.10 Td (er) Tj ET Q q 0 0 0 rg BT 76.48 476.10 Td (es) Tj ET Q q 0 0 0 rg BT 82.62 476.10 Td (t oblig) Tj ET Q q 0 0 0 rg BT 100.29 476.10 Td (a) Tj ET Q q 0 0 0 rg BT 103.58 476.10 Td (tions include e) Tj ET Q q 0 0 0 rg BT 144.87 476.10 Td (xpect) Tj ET Q q 0 0 0 rg BT 160.29 476.10 Td (ed in) Tj ET Q q 0 0 0 rg BT 174.25 476.10 Td (t) Tj ET Q q 0 0 0 rg BT 176.52 476.10 Td (er) Tj ET Q q 0 0 0 rg BT 182.36 476.10 Td (es) Tj ET Q q 0 0 0 rg BT 188.50 476.10 Td (t pa) Tj ET Q q 0 0 0 rg BT 199.33 476.10 Td (ymen) Tj ET Q q 0 0 0 rg BT 215.18 476.10 Td (ts on mortg) Tj ET Q q 0 0 0 rg BT 248.03 476.10 Td (ag) Tj ET Q q 0 0 0 rg BT 254.62 476.10 Td (es and cr) Tj ET Q q 0 0 0 rg BT 280.02 476.10 Td (edit f) Tj ET Q q 0 0 0 rg BT 294.72 476.10 Td (acilities as a) Tj ET Q q 0 0 0 rg BT 328.57 476.10 Td (t ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 332.49 476.10 Td (Mar) Tj ET Q q 0 0 0 rg BT 344.17 476.10 Td (ch31, 2015) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 377.01 476.10 Td ( \(assuming balances r) Tj ET Q q 0 0 0 rg BT 437.75 476.10 Td (emain outs) Tj ET Q q 0 0 0 rg BT 469.42 476.10 Td (t) Tj ET Q q 0 0 0 rg BT 471.68 476.10 Td (anding thr) Tj ET Q q 0 0 0 rg BT 500.90 476.10 Td (ough t) Tj ET Q q 0 0 0 rg BT 519.10 476.10 Td (o ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 467.75 Td (ma) Tj ET Q q 0 0 0 rg BT 71.88 467.75 Td (turity\), and senior unsecur) Tj ET Q q 0 0 0 rg BT 146.99 467.75 Td (ed deben) Tj ET Q q 0 0 0 rg BT 173.66 467.75 Td (tur) Tj ET Q q 0 0 0 rg BT 182.03 467.75 Td (es, as w) Tj ET Q q 0 0 0 rg BT 204.20 467.75 Td (ell as s) Tj ET Q q 0 0 0 rg BT 222.81 467.75 Td (t) Tj ET Q q 0 0 0 rg BT 225.07 467.75 Td (andb) Tj ET Q q 0 0 0 rg BT 239.42 467.75 Td (y cr) Tj ET Q q 0 0 0 rg BT 249.48 467.75 Td (edit f) Tj ET Q q 0 0 0 rg BT 264.17 467.75 Td (acility f) Tj ET Q q 0 0 0 rg BT 284.36 467.75 Td (ees.) Tj ET Q BT /F3 7.00 Tf ET BT /F3 4.55 Tf ET q 0 0 0 rg BT 54.00 459.64 Td (\(2\) ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 456.30 Td (It is the Compan) Tj ET Q q 0 0 0 rg BT 109.30 456.30 Td (y) Tj ET Q q 0 0 0 rg BT 112.68 456.30 Td () Tj ET Q q 0 0 0 rg BT 114.00 456.30 Td (s curr) Tj ET Q q 0 0 0 rg BT 129.75 456.30 Td (en) Tj ET Q q 0 0 0 rg BT 136.84 456.30 Td (t in) Tj ET Q q 0 0 0 rg BT 145.99 456.30 Td (t) Tj ET Q q 0 0 0 rg BT 148.26 456.30 Td (en) Tj ET Q q 0 0 0 rg BT 155.35 456.30 Td (tion t) Tj ET Q q 0 0 0 rg BT 170.53 456.30 Td (o c) Tj ET Q q 0 0 0 rg BT 178.71 456.30 Td (on) Tj ET Q q 0 0 0 rg BT 186.01 456.30 Td (tinue t) Tj ET Q q 0 0 0 rg BT 204.66 456.30 Td (o sa) Tj ET Q q 0 0 0 rg BT 215.96 456.30 Td (tis) Tj ET Q q 0 0 0 rg BT 222.58 456.30 Td (f) Tj ET Q q 0 0 0 rg BT 224.76 456.30 Td (y its oblig) Tj ET Q q 0 0 0 rg BT 251.52 456.30 Td (a) Tj ET Q q 0 0 0 rg BT 254.81 456.30 Td (tions of principal and in) Tj ET Q q 0 0 0 rg BT 321.56 456.30 Td (t) Tj ET Q q 0 0 0 rg BT 323.83 456.30 Td (er) Tj ET Q q 0 0 0 rg BT 329.66 456.30 Td (es) Tj ET Q q 0 0 0 rg BT 335.81 456.30 Td (t pa) Tj ET Q q 0 0 0 rg BT 346.63 456.30 Td (ymen) Tj ET Q q 0 0 0 rg BT 362.49 456.30 Td (ts in r) Tj ET Q q 0 0 0 rg BT 378.37 456.30 Td (espect of all of its outs) Tj ET Q q 0 0 0 rg BT 442.25 456.30 Td (t) Tj ET Q q 0 0 0 rg BT 444.51 456.30 Td (anding c) Tj ET Q q 0 0 0 rg BT 468.28 456.30 Td (on) Tj ET Q q 0 0 0 rg BT 475.54 456.30 Td (v) Tj ET Q q 0 0 0 rg BT 478.63 456.30 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 516.79 456.30 Td (tur) Tj ET Q q 0 0 0 rg BT 525.16 456.30 Td (es b) Tj ET Q q 0 0 0 rg BT 536.60 456.30 Td (y ) Tj ET Q BT /F3 7.00 Tf ET q 0 0 0 rg BT 63.00 447.90 Td (the issuance of c) Tj ET Q q 0 0 0 rg BT 110.22 447.90 Td (ommon shar) Tj ET Q q 0 0 0 rg BT 146.16 447.90 Td (es, and as such c) Tj ET Q q 0 0 0 rg BT 193.21 447.90 Td (on) Tj ET Q q 0 0 0 rg BT 200.46 447.90 Td (v) Tj ET Q q 0 0 0 rg BT 203.56 447.90 Td (ertible deben) Tj ET Q q 0 0 0 rg BT 241.72 447.90 Td (tur) Tj ET Q q 0 0 0 rg BT 250.09 447.90 Td (es ha) Tj ET Q q 0 0 0 rg BT 264.80 447.90 Td (v) Tj ET Q q 0 0 0 rg BT 267.90 447.90 Td (e been e) Tj ET Q q 0 0 0 rg BT 292.24 447.90 Td (x) Tj ET Q q 0 0 0 rg BT 295.12 447.90 Td (cluded fr) Tj ET Q q 0 0 0 rg BT 320.25 447.90 Td (om this t) Tj ET Q q 0 0 0 rg BT 345.32 447.90 Td (able.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 429.90 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 429.90 Td (y) Tj ET Q q 0 0 0 rg BT 109.90 429.90 Td () Tj ET Q q 0 0 0 rg BT 111.78 429.90 Td (s t) Tj ET Q q 0 0 0 rg BT 121.21 429.90 Td (ot) Tj ET Q q 0 0 0 rg BT 129.71 429.90 Td (al es) Tj ET Q q 0 0 0 rg BT 147.83 429.90 Td (tima) Tj ET Q q 0 0 0 rg BT 166.16 429.90 Td (t) Tj ET Q q 0 0 0 rg BT 169.40 429.90 Td (ed c) Tj ET Q q 0 0 0 rg BT 186.04 429.90 Td (os) Tj ET Q q 0 0 0 rg BT 195.11 429.90 Td (ts t) Tj ET Q q 0 0 0 rg BT 207.88 429.90 Td (o c) Tj ET Q q 0 0 0 rg BT 219.56 429.90 Td (omple) Tj ET Q q 0 0 0 rg BT 245.29 429.90 Td (t) Tj ET Q q 0 0 0 rg BT 248.54 429.90 Td (e de) Tj ET Q q 0 0 0 rg BT 265.95 429.90 Td (v) Tj ET Q q 0 0 0 rg BT 270.37 429.90 Td (elopmen) Tj ET Q q 0 0 0 rg BT 306.29 429.90 Td (t pr) Tj ET Q q 0 0 0 rg BT 320.48 429.90 Td (ojects curr) Tj ET Q q 0 0 0 rg BT 363.20 429.90 Td (en) Tj ET Q q 0 0 0 rg BT 373.34 429.90 Td (tly under c) Tj ET Q q 0 0 0 rg BT 416.40 429.90 Td (ons) Tj ET Q q 0 0 0 rg BT 430.72 429.90 Td (truction ar) Tj ET Q q 0 0 0 rg BT 473.62 429.90 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 480.86 429.90 Td ($267.6 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 538.68 429.90 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 417.90 Td (with ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.31 417.90 Td ($102.1 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 132.13 417.90 Td ( c) Tj ET Q q 0 0 0 rg BT 138.54 417.90 Td (on) Tj ET Q q 0 0 0 rg BT 148.97 417.90 Td (tr) Tj ET Q q 0 0 0 rg BT 155.60 417.90 Td (actually c) Tj ET Q q 0 0 0 rg BT 193.54 417.90 Td (ommit) Tj ET Q q 0 0 0 rg BT 220.29 417.90 Td (t) Tj ET Q q 0 0 0 rg BT 223.53 417.90 Td (ed as a) Tj ET Q q 0 0 0 rg BT 251.68 417.90 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 257.29 417.90 Td (Mar) Tj ET Q q 0 0 0 rg BT 273.97 417.90 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 320.88 417.90 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 399.90 Td (The Compan) Tj ET Q q 0 0 0 rg BT 105.07 399.90 Td (y manag) Tj ET Q q 0 0 0 rg BT 139.30 399.90 Td (es its liquidity risk b) Tj ET Q q 0 0 0 rg BT 219.05 399.90 Td (y s) Tj ET Q q 0 0 0 rg BT 229.63 399.90 Td (t) Tj ET Q q 0 0 0 rg BT 232.86 399.90 Td (ag) Tj ET Q q 0 0 0 rg BT 242.45 399.90 Td (g) Tj ET Q q 0 0 0 rg BT 247.08 399.90 Td (ering deb) Tj ET Q q 0 0 0 rg BT 285.49 399.90 Td (t ma) Tj ET Q q 0 0 0 rg BT 303.79 399.90 Td (turities; r) Tj ET Q q 0 0 0 rg BT 341.00 399.90 Td (eneg) Tj ET Q q 0 0 0 rg BT 360.84 399.90 Td (otia) Tj ET Q q 0 0 0 rg BT 376.46 399.90 Td (ting e) Tj ET Q q 0 0 0 rg BT 399.15 399.90 Td (xpiring cr) Tj ET Q q 0 0 0 rg BT 436.61 399.90 Td (edit arr) Tj ET Q q 0 0 0 rg BT 466.30 399.90 Td (ang) Tj ET Q q 0 0 0 rg BT 480.97 399.90 Td (emen) Tj ET Q q 0 0 0 rg BT 504.07 399.90 Td (ts ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 387.90 Td (pr) Tj ET Q q 0 0 0 rg BT 62.58 387.90 Td (oactiv) Tj ET Q q 0 0 0 rg BT 86.93 387.90 Td (ely; using r) Tj ET Q q 0 0 0 rg BT 130.70 387.90 Td (e) Tj ET Q q 0 0 0 rg BT 135.63 387.90 Td (v) Tj ET Q q 0 0 0 rg BT 140.05 387.90 Td (olving cr) Tj ET Q q 0 0 0 rg BT 174.24 387.90 Td (edit f) Tj ET Q q 0 0 0 rg BT 195.23 387.90 Td (acilities; and issuing equity when c) Tj ET Q q 0 0 0 rg BT 335.00 387.90 Td (onsider) Tj ET Q q 0 0 0 rg BT 365.32 387.90 Td (ed appr) Tj ET Q q 0 0 0 rg BT 396.43 387.90 Td (opria) Tj ET Q q 0 0 0 rg BT 417.44 387.90 Td (t) Tj ET Q q 0 0 0 rg BT 420.68 387.90 Td (e. As a) Tj ET Q q 0 0 0 rg BT 447.10 387.90 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 452.71 387.90 Td (Mar) Tj ET Q q 0 0 0 rg BT 469.39 387.90 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 516.29 387.90 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 375.90 Td (ther) Tj ET Q q 0 0 0 rg BT 70.93 375.90 Td (e w) Tj ET Q q 0 0 0 rg BT 85.21 375.90 Td (as ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 96.17 375.90 Td (nil) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 106.01 375.90 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 111.30 375.90 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 190.77 375.90 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 200.27 375.90 Td (nil) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 210.11 375.90 Td (\) of c) Tj ET Q q 0 0 0 rg BT 230.14 375.90 Td (ash adv) Tj ET Q q 0 0 0 rg BT 260.77 375.90 Td (ances dr) Tj ET Q q 0 0 0 rg BT 294.72 375.90 Td (a) Tj ET Q q 0 0 0 rg BT 299.44 375.90 Td (wn ag) Tj ET Q q 0 0 0 rg BT 323.42 375.90 Td (ains) Tj ET Q q 0 0 0 rg BT 339.56 375.90 Td (t the Compan) Tj ET Q q 0 0 0 rg BT 394.71 375.90 Td (y) Tj ET Q q 0 0 0 rg BT 399.54 375.90 Td () Tj ET Q q 0 0 0 rg BT 401.43 375.90 Td (s r) Tj ET Q q 0 0 0 rg BT 410.95 375.90 Td (e) Tj ET Q q 0 0 0 rg BT 415.88 375.90 Td (v) Tj ET Q q 0 0 0 rg BT 420.30 375.90 Td (olving cr) Tj ET Q q 0 0 0 rg BT 454.49 375.90 Td (edit f) Tj ET Q q 0 0 0 rg BT 475.48 375.90 Td (acilities.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 357.90 Td (In addition, as a) Tj ET Q q 0 0 0 rg BT 118.21 357.90 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 123.82 357.90 Td (Mar) Tj ET Q q 0 0 0 rg BT 140.50 357.90 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 187.41 357.90 Td (, the Compan) Tj ET Q q 0 0 0 rg BT 241.71 357.90 Td (y has ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 264.72 357.90 Td ($42.1 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 317.47 357.90 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 322.76 357.90 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 402.23 357.90 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 411.73 357.90 Td ($42.2 million) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 464.48 357.90 Td (\) of outs) Tj ET Q q 0 0 0 rg BT 498.04 357.90 Td (t) Tj ET Q q 0 0 0 rg BT 501.27 357.90 Td (anding ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 345.90 Td (le) Tj ET Q q 0 0 0 rg BT 61.22 345.90 Td (t) Tj ET Q q 0 0 0 rg BT 64.42 345.90 Td (t) Tj ET Q q 0 0 0 rg BT 67.67 345.90 Td (er) Tj ET Q q 0 0 0 rg BT 75.96 345.90 Td (s of cr) Tj ET Q q 0 0 0 rg BT 100.30 345.90 Td (edit issued b) Tj ET Q q 0 0 0 rg BT 151.50 345.90 Td (y financial ins) Tj ET Q q 0 0 0 rg BT 206.15 345.90 Td (titutions primarily t) Tj ET Q q 0 0 0 rg BT 284.67 345.90 Td (o support cert) Tj ET Q q 0 0 0 rg BT 342.16 345.90 Td (ain of the Compan) Tj ET Q q 0 0 0 rg BT 416.90 345.90 Td (y) Tj ET Q q 0 0 0 rg BT 421.72 345.90 Td () Tj ET Q q 0 0 0 rg BT 423.61 345.90 Td (s c) Tj ET Q q 0 0 0 rg BT 433.93 345.90 Td (on) Tj ET Q q 0 0 0 rg BT 444.36 345.90 Td (tr) Tj ET Q q 0 0 0 rg BT 450.99 345.90 Td (actual oblig) Tj ET Q q 0 0 0 rg BT 497.60 345.90 Td (a) Tj ET Q q 0 0 0 rg BT 502.30 345.90 Td (tions.) 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F) Tj ET Q q 0 0 0 rg BT 458.65 384.50 Td (or those in) Tj ET Q q 0 0 0 rg BT 502.15 384.50 Td (t) Tj ET Q q 0 0 0 rg BT 505.39 384.50 Td (er) Tj ET Q q 0 0 0 rg BT 513.72 384.50 Td (es) Tj ET Q q 0 0 0 rg BT 522.50 384.50 Td (t r) Tj ET Q q 0 0 0 rg BT 531.39 384.50 Td (a) Tj ET Q q 0 0 0 rg BT 536.08 384.50 Td (t) Tj ET Q q 0 0 0 rg BT 539.33 384.50 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 372.50 Td (s) Tj ET Q q 0 0 0 rg BT 57.86 372.50 Td (w) Tj ET Q q 0 0 0 rg BT 64.90 372.50 Td (ap) Tj ET Q q 0 0 0 rg BT 74.89 372.50 Td (s t) Tj ET Q q 0 0 0 rg BT 84.32 372.50 Td (o which the Compan) Tj ET Q q 0 0 0 rg BT 167.84 372.50 Td (y does not apply hedg) Tj ET Q q 0 0 0 rg BT 256.92 372.50 Td (e acc) Tj ET Q q 0 0 0 rg BT 277.33 372.50 Td (oun) Tj ET Q q 0 0 0 rg BT 293.01 372.50 Td (ting) Tj ET Q q 0 0 0 rg BT 308.73 372.50 Td (, the chang) Tj ET Q q 0 0 0 rg BT 353.48 372.50 Td (e in f) Tj ET Q q 0 0 0 rg BT 373.38 372.50 Td (air v) Tj ET Q q 0 0 0 rg BT 390.58 372.50 Td (alue is r) Tj ET Q q 0 0 0 rg BT 421.98 372.50 Td (ec) Tj ET Q q 0 0 0 rg BT 431.10 372.50 Td (ogniz) Tj ET Q q 0 0 0 rg BT 452.35 372.50 Td (ed in other g) Tj ET Q q 0 0 0 rg BT 503.78 372.50 Td (ains ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 360.50 Td (\(losses\) and \(e) Tj ET Q q 0 0 0 rg BT 112.02 360.50 Td (xpenses\) \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 152.96 360.50 Td (Not) Tj ET Q q 0 0 0 rg BT 167.93 360.50 Td (e 19) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 185.30 360.50 Td (\). ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 339.50 Td (The f) Tj ET Q q 0 0 0 rg BT 74.22 339.50 Td (air v) Tj ET Q q 0 0 0 rg BT 91.42 339.50 Td (alues of the Compan) Tj ET Q q 0 0 0 rg BT 175.04 339.50 Td (y's asse) Tj ET Q q 0 0 0 rg BT 205.48 339.50 Td (t \(liability\) hedging ins) Tj ET Q q 0 0 0 rg BT 294.86 339.50 Td (trumen) Tj ET Q q 0 0 0 rg BT 325.08 339.50 Td (ts ar) Tj ET Q q 0 0 0 rg BT 342.75 339.50 Td (e as f) Tj ET Q q 0 0 0 rg BT 363.79 339.50 Td (ollo) Tj ET Q q 0 0 0 rg BT 378.88 339.50 Td (w) Tj ET Q q 0 0 0 rg BT 385.94 339.50 Td (s:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 329 m 221.5 329 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 301 m 221.5 301 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 329 m 283.5 329 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 221.5 301 m 283.5 301 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 329 m 378.5 329 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 283.5 301 m 378.5 301 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 329 m 398.5 329 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378.5 301 m 398.5 301 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 329 m 456.5 329 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 398.5 301 m 456.5 301 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 329 m 476.5 329 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 456.5 301 m 476.5 301 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 329 m 532.5 329 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 476.5 301 m 532.5 301 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 275 m 221.5 275 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 259 m 221.5 259 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 221.5 275 m 283.5 275 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 259 m 283.5 259 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 283.5 275 m 378.5 275 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 259 m 378.5 259 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378.5 275 m 398.5 275 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 259 m 398.5 259 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 398.5 275 m 456.5 275 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 259 m 456.5 259 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 456.5 275 m 476.5 275 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 259 m 476.5 259 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 476.5 275 m 532.5 275 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 259 m 532.5 259 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 305.50 Td (As at \(thousands of Canadian dollars\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 229.40 320.50 Td (Designated as) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 238.60 312.50 Td (Hedging) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 233.90 304.50 Td (Instrument) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 316.25 305.50 Td (Maturity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.65 305.50 Td (March 31, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 465.40 305.50 Td (December 31, 2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 291.75 Td (Bond forward contracts) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 246.10 291.75 Td (Yes) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 286.00 291.75 Td (April 2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 401.00 291.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 429.75 291.75 Td (\(4,953) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 453.15 291.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 479.00 291.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 515.55 291.75 Td (281) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 278.75 Td (Interest rate swaps) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 246.10 278.75 Td (Yes) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 286.00 278.75 Td (March 2022 - July 2024) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 429.75 278.75 Td (\(6,326) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 453.15 278.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 278.75 Td (\(2,370) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.25 278.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 265.75 Td (Net) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 401.00 263.75 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 425.20 263.75 Td (\(11,279) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 453.15 263.75 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 479.00 263.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 263.75 Td (\(2,089) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.25 263.75 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 36.00 241.50 Td ( ) Tj ET Q q 0 0 0 rg BT 54.00 241.50 Td (The f) Tj ET Q q 0 0 0 rg BT 74.22 241.50 Td (air v) Tj ET Q q 0 0 0 rg BT 91.42 241.50 Td (alue of deriv) Tj ET Q q 0 0 0 rg BT 141.96 241.50 Td (a) Tj ET Q q 0 0 0 rg BT 146.66 241.50 Td (tiv) Tj ET Q q 0 0 0 rg BT 156.72 241.50 Td (e ins) Tj ET Q q 0 0 0 rg BT 175.31 241.50 Td (trumen) Tj ET Q q 0 0 0 rg BT 205.52 241.50 Td (ts ar) Tj ET Q q 0 0 0 rg BT 223.19 241.50 Td (e de) Tj ET Q q 0 0 0 rg BT 240.60 241.50 Td (t) Tj ET Q q 0 0 0 rg BT 243.84 241.50 Td (ermined using pr) Tj ET Q q 0 0 0 rg BT 312.62 241.50 Td (esen) Tj ET Q q 0 0 0 rg BT 331.65 241.50 Td (t v) Tj ET Q q 0 0 0 rg BT 341.63 241.50 Td (alue f) Tj ET Q q 0 0 0 rg BT 364.04 241.50 Td (or) Tj ET Q q 0 0 0 rg BT 372.86 241.50 Td (w) Tj ET Q q 0 0 0 rg BT 379.89 241.50 Td (ar) Tj ET Q q 0 0 0 rg BT 388.03 241.50 Td (d pricing and s) Tj ET Q q 0 0 0 rg BT 446.75 241.50 Td (w) Tj ET Q q 0 0 0 rg BT 453.78 241.50 Td (ap c) Tj ET Q q 0 0 0 rg BT 470.23 241.50 Td (alcula) Tj ET Q q 0 0 0 rg BT 493.79 241.50 Td (tions a) Tj ET Q q 0 0 0 rg BT 520.84 241.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 229.50 Td (in) Tj ET Q q 0 0 0 rg BT 61.46 229.50 Td (t) Tj ET Q q 0 0 0 rg BT 64.70 229.50 Td (er) Tj ET Q q 0 0 0 rg BT 73.03 229.50 Td (es) Tj ET Q q 0 0 0 rg BT 81.80 229.50 Td (t r) Tj ET Q q 0 0 0 rg BT 90.69 229.50 Td (a) Tj ET Q q 0 0 0 rg BT 95.39 229.50 Td (t) Tj ET Q q 0 0 0 rg BT 98.63 229.50 Td (es tha) Tj ET Q q 0 0 0 rg BT 123.08 229.50 Td (t r) Tj ET Q q 0 0 0 rg BT 132.05 229.50 Td (e) Tj ET Q q 0 0 0 rg BT 136.93 229.50 Td (flect curr) Tj ET Q q 0 0 0 rg BT 173.42 229.50 Td (en) Tj ET Q q 0 0 0 rg BT 183.56 229.50 Td (t mark) Tj ET Q q 0 0 0 rg BT 209.65 229.50 Td (e) Tj ET Q q 0 0 0 rg BT 214.58 229.50 Td (t c) Tj ET Q q 0 0 0 rg BT 224.33 229.50 Td (onditions. The models also t) Tj ET Q q 0 0 0 rg BT 338.36 229.50 Td (ak) Tj ET Q q 0 0 0 rg BT 347.37 229.50 Td (e in) Tj ET Q q 0 0 0 rg BT 362.06 229.50 Td (t) Tj ET Q q 0 0 0 rg BT 365.31 229.50 Td (o c) Tj ET Q q 0 0 0 rg BT 376.99 229.50 Td (onsider) Tj ET Q q 0 0 0 rg BT 407.24 229.50 Td (a) Tj ET Q q 0 0 0 rg BT 411.93 229.50 Td (tion the cr) Tj ET Q q 0 0 0 rg BT 453.79 229.50 Td (edit quality of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 217.50 Td (c) Tj ET Q q 0 0 0 rg BT 58.15 217.50 Td (oun) Tj ET Q q 0 0 0 rg BT 73.83 217.50 Td (t) Tj ET Q q 0 0 0 rg BT 77.08 217.50 Td (erparties, in) Tj ET Q q 0 0 0 rg BT 125.81 217.50 Td (t) Tj ET Q q 0 0 0 rg BT 129.05 217.50 Td (er) Tj ET Q q 0 0 0 rg BT 137.38 217.50 Td (es) Tj ET Q q 0 0 0 rg BT 146.16 217.50 Td (t r) Tj ET Q q 0 0 0 rg BT 155.05 217.50 Td (a) Tj ET Q q 0 0 0 rg BT 159.75 217.50 Td (t) Tj ET Q q 0 0 0 rg BT 162.99 217.50 Td (e cur) Tj ET Q q 0 0 0 rg BT 183.29 217.50 Td (v) Tj ET Q q 0 0 0 rg BT 187.71 217.50 Td (es and f) Tj ET Q q 0 0 0 rg BT 219.25 217.50 Td (or) Tj ET Q q 0 0 0 rg BT 228.07 217.50 Td (w) Tj ET Q q 0 0 0 rg BT 235.10 217.50 Td (ar) Tj ET Q q 0 0 0 rg BT 243.24 217.50 Td (d r) Tj ET Q q 0 0 0 rg BT 254.04 217.50 Td (a) Tj ET Q q 0 0 0 rg BT 258.74 217.50 Td (t) Tj ET Q q 0 0 0 rg BT 261.98 217.50 Td (e cur) Tj ET Q q 0 0 0 rg BT 282.28 217.50 Td (v) Tj ET Q q 0 0 0 rg BT 286.70 217.50 Td (es. As a) Tj ET Q q 0 0 0 rg BT 317.02 217.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 322.63 217.50 Td (Mar) Tj ET Q q 0 0 0 rg BT 339.31 217.50 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 386.22 217.50 Td (, the in) Tj ET Q q 0 0 0 rg BT 414.27 217.50 Td (t) Tj ET Q q 0 0 0 rg BT 417.52 217.50 Td (er) Tj ET Q q 0 0 0 rg BT 425.85 217.50 Td (es) Tj ET Q q 0 0 0 rg BT 434.62 217.50 Td (t r) Tj ET Q q 0 0 0 rg BT 443.51 217.50 Td (a) Tj ET Q q 0 0 0 rg BT 448.21 217.50 Td (t) Tj ET Q q 0 0 0 rg BT 451.45 217.50 Td (es r) Tj ET Q q 0 0 0 rg BT 465.88 217.50 Td (ang) Tj ET Q q 0 0 0 rg BT 480.55 217.50 Td (ed fr) Tj ET Q q 0 0 0 rg BT 499.42 217.50 Td (om ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.94 217.50 Td (1.42%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 539.82 217.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 205.50 Td (t) Tj ET Q q 0 0 0 rg BT 57.25 205.50 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 64.79 205.50 Td (3.26%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 89.66 205.50 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 94.96 205.50 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 174.42 205.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 183.92 205.50 Td (1.88%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 208.80 205.50 Td ( t) Tj ET Q q 0 0 0 rg BT 214.31 205.50 Td (o ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 221.85 205.50 Td (3.71%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 246.72 205.50 Td (\).) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 187.50 Td (The f) Tj ET Q q 0 0 0 rg BT 74.22 187.50 Td (air v) Tj ET Q q 0 0 0 rg BT 91.42 187.50 Td (alues of the Compan) Tj ET Q q 0 0 0 rg BT 175.04 187.50 Td (y) Tj ET Q q 0 0 0 rg BT 179.87 187.50 Td () Tj ET Q q 0 0 0 rg BT 181.75 187.50 Td (s c) Tj ET Q q 0 0 0 rg BT 192.07 187.50 Td (ash and c) Tj ET Q q 0 0 0 rg BT 229.99 187.50 Td (ash equiv) Tj ET Q q 0 0 0 rg BT 268.36 187.50 Td (alen) Tj ET Q q 0 0 0 rg BT 285.58 187.50 Td (ts, amoun) Tj ET Q q 0 0 0 rg BT 326.06 187.50 Td (ts r) Tj ET Q q 0 0 0 rg BT 338.94 187.50 Td (eceiv) Tj ET Q q 0 0 0 rg BT 359.78 187.50 Td (able, deposits, loans r) Tj ET Q q 0 0 0 rg BT 447.97 187.50 Td (eceiv) Tj ET Q q 0 0 0 rg BT 468.81 187.50 Td (able fr) Tj ET Q q 0 0 0 rg BT 494.77 187.50 Td (om sales of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 175.50 Td (r) Tj ET Q q 0 0 0 rg BT 57.35 175.50 Td (esiden) Tj ET Q q 0 0 0 rg BT 83.93 175.50 Td (tial in) Tj ET Q q 0 0 0 rg BT 106.30 175.50 Td (v) Tj ET Q q 0 0 0 rg BT 110.72 175.50 Td (en) Tj ET Q q 0 0 0 rg BT 120.86 175.50 Td (t) Tj ET Q q 0 0 0 rg BT 124.11 175.50 Td (or) Tj ET Q q 0 0 0 rg BT 132.92 175.50 Td (y) Tj ET Q q 0 0 0 rg BT 136.73 175.50 Td (, r) Tj ET Q q 0 0 0 rg BT 144.84 175.50 Td (es) Tj ET Q q 0 0 0 rg BT 153.61 175.50 Td (trict) Tj ET Q q 0 0 0 rg BT 170.22 175.50 Td (ed c) Tj ET Q q 0 0 0 rg BT 186.85 175.50 Td (ash and acc) Tj ET Q q 0 0 0 rg BT 233.79 175.50 Td (oun) Tj ET Q q 0 0 0 rg BT 249.48 175.50 Td (ts pa) Tj ET Q q 0 0 0 rg BT 268.86 175.50 Td (y) Tj ET Q q 0 0 0 rg BT 273.23 175.50 Td (able and other liabilities appr) Tj ET Q q 0 0 0 rg BT 391.90 175.50 Td (o) Tj ET Q q 0 0 0 rg BT 396.98 175.50 Td (xima) Tj ET Q q 0 0 0 rg BT 416.29 175.50 Td (t) Tj ET Q q 0 0 0 rg BT 419.53 175.50 Td (e their c) Tj ET Q q 0 0 0 rg BT 452.54 175.50 Td (arr) Tj ET Q q 0 0 0 rg BT 464.35 175.50 Td (ying v) Tj ET Q q 0 0 0 rg BT 487.76 175.50 Td (alues as a) Tj ET Q q 0 0 0 rg BT 526.91 175.50 Td (t ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 163.50 Td (Mar) Tj ET Q q 0 0 0 rg BT 70.68 163.50 Td (ch31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 117.59 163.50 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 137.41 163.50 Td (December31, 2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 216.87 163.50 Td ( due t) Tj ET Q q 0 0 0 rg BT 240.13 163.50 Td (o their short) Tj ET Q q 0 0 0 rg BT 290.25 163.50 Td (-t) Tj ET Q q 0 0 0 rg BT 296.55 163.50 Td (erm na) Tj ET Q q 0 0 0 rg BT 325.22 163.50 Td (tur) Tj ET Q q 0 0 0 rg BT 337.17 163.50 Td (e. ) Tj ET Q endstream endobj 167 0 obj <> endobj 168 0 obj <> stream 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50.5 67 m 75.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 75.5 67 m 529.5 67 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 529.5 67 m 556.5 67 l s BT /F3 6.00 Tf ET q 0 0 0 rg BT 399.30 56.00 Td (FIRST CAPITAL REALTY FIRST QUARTER REPORT 2015) Tj ET Q BT /F3 6.00 Tf ET q 0 0 0 rg BT 546.90 56.00 Td (82) Tj ET Q BT /F1 10.00 Tf ET BT /F2 14.00 Tf ET q 0 0 0 rg BT 54.00 691.50 Td (24) Tj ET Q BT /F2 14.00 Tf ET q 0 0 0 rg BT 68.19 691.50 Td (. SUPPLEMENT) Tj ET Q q 0 0 0 rg BT 152.62 691.50 Td (AL CASH FL) Tj ET Q q 0 0 0 rg BT 216.80 691.50 Td (O) Tj ET Q q 0 0 0 rg BT 226.09 691.50 Td (W INF) Tj ET Q q 0 0 0 rg BT 261.22 691.50 Td (ORMA) Tj ET Q q 0 0 0 rg BT 298.20 691.50 Td (TION) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 668.10 Td (\(a\) It) Tj ET Q q 0 0 0 rg BT 77.33 668.10 Td (ems not a) Tj ET Q q 0 0 0 rg BT 126.25 668.10 Td (ff) Tj ET Q q 0 0 0 rg BT 133.63 668.10 Td (ecting c) Tj ET Q q 0 0 0 rg BT 171.60 668.10 Td (ash and other it) Tj ET Q q 0 0 0 rg BT 250.01 668.10 Td (ems ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 657.6 m 382.5 657.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 657.6 m 408.5 657.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 657.6 m 428.5 657.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 657.6 m 483.5 657.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 657.6 m 503.5 657.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 657.6 m 558.5 657.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 642.6 m 382.5 642.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 627.6 m 382.5 627.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382.5 642.6 m 408.5 642.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382.5 627.6 m 408.5 627.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 642.6 m 428.5 642.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 627.6 m 428.5 627.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 642.6 m 483.5 642.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 627.6 m 483.5 627.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 642.6 m 503.5 642.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 627.6 m 503.5 627.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 642.6 m 558.5 642.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 627.6 m 558.5 627.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 487.6 m 382.5 487.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 472.6 m 382.5 472.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382.5 487.6 m 408.5 487.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 472.6 m 408.5 472.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 487.6 m 428.5 487.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 472.6 m 428.5 472.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 487.6 m 483.5 487.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 472.6 m 483.5 472.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 487.6 m 503.5 487.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 472.6 m 503.5 472.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 487.6 m 558.5 487.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 472.6 m 558.5 472.6 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 454.65 647.10 Td (Three months ended March 31) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 632.10 Td (\(thousands of Canadian dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.25 632.10 Td (Notes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.75 632.10 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.75 632.10 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 618.35 Td (Rental revenue recognized on a straight-line basis) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 618.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 456.75 618.35 Td (\(1,251) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 618.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 618.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 618.35 Td (\(1,775) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 618.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 605.35 Td (Investment properties selling costs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 390.40 605.35 Td (19) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.45 605.35 Td (384) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 605.35 Td (142) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 592.35 Td (Realized gains on sale of marketable securities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 390.40 592.35 Td (19) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 463.65 592.35 Td (\(865) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 592.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.80 592.35 Td (\(481) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 592.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 579.35 Td (Chang) Tj ET Q q 0 0 0 rg BT 79.73 579.35 Td (e in cumula) Tj ET Q q 0 0 0 rg BT 121.81 579.35 Td (tiv) Tj ET Q q 0 0 0 rg BT 130.87 579.35 Td (e unr) Tj ET Q q 0 0 0 rg BT 149.86 579.35 Td (ealiz) Tj ET Q q 0 0 0 rg BT 166.13 579.35 Td (ed losses \() Tj ET Q q 0 0 0 rg BT 204.03 579.35 Td (g) Tj ET Q q 0 0 0 rg BT 208.10 579.35 Td (ains\) on mark) Tj ET Q q 0 0 0 rg BT 257.44 579.35 Td (e) Tj ET Q q 0 0 0 rg BT 261.87 579.35 Td (t) Tj ET Q q 0 0 0 rg BT 264.77 579.35 Td (able ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 66.00 570.35 Td (securities classified as FVTPL) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 390.40 579.35 Td (19) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.45 579.35 Td (395) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 579.35 Td (\(1,285) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 579.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 556.35 Td (Losses on prepayments of debt) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 390.40 556.35 Td (19) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.00 556.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 556.35 Td (262) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 543.35 Td (Non-cash compensation expense) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.45 543.35 Td (824) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 543.35 Td (696) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 530.35 Td (Settlement of restricted share units) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.20 530.35 Td (\(48) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 530.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.10 530.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 517.35 Td (Deferred income taxes) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 390.40 517.35 Td (20) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 517.35 Td (11,651) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.15 517.35 Td (10,484) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 504.35 Td (Unrealized \(gains\) losses on hedges) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 390.40 504.35 Td (19) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.00 504.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.10 504.35 Td (99) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 491.35 Td (Other non-cash items) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.00 491.35 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.95 491.35 Td (\(2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 491.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 477.35 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 477.35 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 477.35 Td (11,090) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 477.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 477.35 Td (8,140) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 449.75 Td (\(b\) Ne) Tj ET Q q 0 0 0 rg BT 84.49 449.75 Td (t chang) Tj ET Q q 0 0 0 rg BT 120.75 449.75 Td (e in non-c) Tj ET Q q 0 0 0 rg BT 169.56 449.75 Td (ash oper) Tj ET Q q 0 0 0 rg BT 212.36 449.75 Td (a) Tj ET Q q 0 0 0 rg BT 218.17 449.75 Td (ting it) Tj ET Q q 0 0 0 rg BT 247.08 449.75 Td (ems ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.00 431.70 Td (The ne) Tj ET Q q 0 0 0 rg BT 81.54 431.70 Td (t chang) Tj ET Q q 0 0 0 rg BT 111.30 431.70 Td (e in non-c) Tj ET Q q 0 0 0 rg BT 151.33 431.70 Td (ash oper) Tj ET Q q 0 0 0 rg BT 186.33 431.70 Td (a) Tj ET Q q 0 0 0 rg BT 191.03 431.70 Td (ting asse) Tj ET Q q 0 0 0 rg BT 226.43 431.70 Td (ts and liabilities c) Tj ET Q q 0 0 0 rg BT 295.97 431.70 Td (onsis) Tj ET Q q 0 0 0 rg BT 316.50 431.70 Td (ts of the f) Tj ET Q q 0 0 0 rg BT 355.29 431.70 Td (ollo) Tj ET Q q 0 0 0 rg BT 370.39 431.70 Td (wing: ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 421.2 m 407.5 421.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 421.2 m 427.5 421.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 421.2 m 482.5 421.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 421.2 m 502.5 421.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 421.2 m 557.5 421.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 406.2 m 407.5 406.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 391.2 m 407.5 391.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 407.5 406.2 m 427.5 406.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 407.5 391.2 m 427.5 391.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427.5 406.2 m 482.5 406.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427.5 391.2 m 482.5 391.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 482.5 406.2 m 502.5 406.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 482.5 391.2 m 502.5 391.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 502.5 406.2 m 557.5 406.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 502.5 391.2 m 557.5 391.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 326.2 m 407.5 326.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 311.2 m 407.5 311.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 407.5 326.2 m 427.5 326.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 311.2 m 427.5 311.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427.5 326.2 m 482.5 326.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 311.2 m 482.5 311.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 482.5 326.2 m 502.5 326.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 311.2 m 502.5 311.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 502.5 326.2 m 557.5 326.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 311.2 m 557.5 311.2 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 453.65 410.70 Td (Three months ended March 31) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 395.70 Td (\(thousands of Canadian dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.75 395.70 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 537.75 395.70 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 381.95 Td (Amounts receivable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.00 381.95 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.75 381.95 Td (\(4,377) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 479.15 381.95 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 505.00 381.95 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.00 381.95 Td (\(7,262) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 554.25 381.95 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 368.95 Td (Prepaid expenses) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.75 368.95 Td (\(8,894) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 479.15 368.95 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.00 368.95 Td (\(7,635) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 554.25 368.95 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 355.95 Td (Trade payables and accruals) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 465.45 355.95 Td (512) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 540.55 355.95 Td (373) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 342.95 Td (Tenant security and other deposits) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.75 342.95 Td (\(2,202) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 479.15 342.95 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.00 342.95 Td (\(1,723) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 554.25 342.95 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 329.95 Td (Other working capital changes) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.75 329.95 Td (\(1,141) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 479.15 329.95 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.80 329.95 Td (\(651) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 554.25 329.95 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 315.95 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.00 315.95 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 451.20 315.95 Td (\(16,102) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 479.15 315.95 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 505.00 315.95 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.45 315.95 Td (\(16,898) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 554.25 315.95 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 288.30 Td (\(c\) Chang) Tj ET Q q 0 0 0 rg BT 99.93 288.30 Td (es in loans, mortg) Tj ET Q q 0 0 0 rg BT 188.04 288.30 Td (ag) Tj ET Q q 0 0 0 rg BT 199.53 288.30 Td (es and other r) Tj ET Q q 0 0 0 rg BT 268.79 288.30 Td (eal es) Tj ET Q q 0 0 0 rg BT 297.11 288.30 Td (t) Tj ET Q q 0 0 0 rg BT 301.15 288.30 Td (a) Tj ET Q q 0 0 0 rg BT 306.96 288.30 Td (t) Tj ET Q q 0 0 0 rg BT 310.97 288.30 Td (e asse) Tj ET Q q 0 0 0 rg BT 341.19 288.30 Td (ts ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 277.79999999999995 m 408.5 277.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 277.79999999999995 m 428.5 277.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 277.79999999999995 m 483.5 277.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 277.79999999999995 m 503.5 277.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 277.79999999999995 m 558.5 277.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 264.79999999999995 m 408.5 264.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 251.79999999999995 m 408.5 251.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 264.79999999999995 m 428.5 264.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 251.79999999999995 m 428.5 251.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 264.79999999999995 m 483.5 264.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 251.79999999999995 m 483.5 251.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 264.79999999999995 m 503.5 264.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 251.79999999999995 m 503.5 251.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 264.79999999999995 m 558.5 264.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 251.79999999999995 m 558.5 251.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 54.5 199.79999999999995 m 408.5 199.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 184.79999999999995 m 408.5 184.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408.5 199.79999999999995 m 428.5 199.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 184.79999999999995 m 428.5 184.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428.5 199.79999999999995 m 483.5 199.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 184.79999999999995 m 483.5 184.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 199.79999999999995 m 503.5 199.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 184.79999999999995 m 503.5 184.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503.5 199.79999999999995 m 558.5 199.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 184.79999999999995 m 558.5 184.79999999999995 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 454.65 269.30 Td (Three months ended March 31) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 57.00 256.30 Td (\(thousands of Canadian dollars\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.75 256.30 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.75 256.30 Td (2014) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 242.55 Td (Advances of loans and mortgages receivable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 242.55 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.20 242.55 Td (\(20,741) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 242.55 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 242.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 242.55 Td (\(9,166) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 242.55 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 229.55 Td (Receipts of loans and mortgages receivable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.00 229.55 Td (49) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.55 229.55 Td (263) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 216.55 Td (Investment in marketable securities, net) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 456.75 216.55 Td (\(2,403) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 480.15 216.55 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.00 216.55 Td (\(9,188) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 216.55 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 203.55 Td (Proceeds from disposition of marketable securities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 203.55 Td (24,401) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.75 203.55 Td (7,251) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 57.00 189.55 Td (Net) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 431.00 189.55 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.55 189.55 Td (1,306) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 189.55 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.45 189.55 Td (\(10,840) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 555.25 189.55 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.00 161.90 Td (\(d\) Cash and c) Tj ET Q q 0 0 0 rg BT 123.31 161.90 Td (ash equiv) Tj ET Q q 0 0 0 rg BT 170.54 161.90 Td (alen) Tj ET Q q 0 0 0 rg BT 191.78 161.90 Td (ts) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 151.39999999999998 m 374.5 151.39999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i 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