About

• Create positive and lasting impacts for our stakeholders through our three impact verticals: environmental sustainability and resilience, attainable and affordable housing, and inclusive communities;
• Balance growth and stability of the portfolio, increasing cash flow, unitholders’ equity and net asset value (“NAV”)⁽¹⁾ over time;
• Leverage our access to an experienced management team and strong partnerships in order to generate attractive returns for investors;
• Provide investors with a portfolio of high-quality real estate assets, concentrated in core geographic markets; and
• Provide predictable distributions to unitholders on a tax-efficient basis.
  
  ⁽¹⁾Represents a non-GAAP measure. For the Trust’s definition of the following non-GAAP measure: NAV, please refer to the Specified Financial Measures and Other Disclosure section of the MD&A. NAV is not a standardized measure under IFRS and might not be comparable to similar measures disclosed by other issuers.

The Trust’s operating segments currently consist of the following:

• Recurring income — comprised of a portfolio of stabilized office and commercial real estate income properties and multi-family rental assets in the Greater Toronto Area (“GTA”) and Ottawa/Gatineau, a utility asset⁽¹⁾, interest-paying corporate loans; and
• Development and investment holdings — comprised of direct and indirect investments in residential and mixed-use developments, a hospitality asset, and participating mortgage receivables.
  
  ⁽¹⁾ Relates to Zibi Community Utility. For further details, refer to Summary of Impact Investments of the MD&A.