I n c l u d e s Data on Benefits & Board of Directors

REALpac 2012

Canadian Real Estate CompensationSurvey

• Responses from 41 publicly traded and private real estate companies

• Detailed compensation information for 155 positions

• Segment comparisons available for all positions (asset classification, geographic location, number of employees)

For more information, please contact Carolyn Lane at clane@realpac.ca, 416.642.2700 x223

Position categories include:

• Executive Management• Senior Management• Corporate Services• Architecture, Engineering

& Environment• Asset Management

• Building Operations/Facilities Management

• Development• Investments• Leasing & Administration• Portfolio Management

• Project Management• Promotions• Property Accounting• Property Tax• Security• Tenant Services• Transactions

REALpac 2012 Canadian Real Estate Compensation Survey

REALpac is pleased to present the 2012 Canadian Real Estate Compensation Survey. Sponsored by REALpac and conducted by FPL Associates L.P., this survey is designed to provide real estate companies, including real estate investment trusts, publicly traded and large private companies, banks, brokerages, crown corporations, investment dealers, life companies, lenders, and pension funds, with competitive compensation levels and current information regarding the design, features, and administration of compensation programs. In addition, this year’s survey requested information on benefits and Board of Directors compensation.

In particular, this survey provides information for three major facets of compensation for 155 positions commonly found in real estate organizations: •Basesalary(2012) •Annualincentiveawardvalue(forcalendar/fiscalyear2011) •Long-termincentiveawardvalue(forcalendar/fiscalyear2011)

This survey includes an extensive discussion on compensation trends within the real estate industry and the broader marketplace, including corporate governance. This survey also provides data on anticipated changes in compensation program design going forward. We are pleased that this year’s survey included 41 participating organizations, reflecting a record high participation rate.

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REALpac 2012

Canadian Real Estate Compensation Survey

Survey Participants

Allied Properties REIT

Artis REIT

Aspen Properties Ltd.

Baybridge Seniors Housing Inc.

Bentall Kennedy Group

Boardwalk Rental Communities

Brookfield Canada Office Properties

Cadillac Fairview Corporation Ltd., The

Calloway REIT

Canderel

CB Richard Ellis Limited

Colliers International Inc.

CREIT Management L.P.

Crombie REIT

Dundee Realty Management Corporation

EPIC Realty Partners, Inc.

Fengate Capital Management Ltd.

First Capital Realty, Inc.

Grosvenor Canada Limited

GWL Realty Advisors

H&R REIT

IGRI Advisors, Inc.

Investors Group Inc.

Ivanhoe Cambridge

KEYreit

Manulife Financial

MCAP Commercial LP

Melcor Developments

Menkes Development Ltd

Minto Group, The

Morguard Corporation

Northern Property REIT

OPTrust

Oxford Properties Group Inc.

Pure Industrial Real Estate Trust

RBC Capital Markets Real Estate Group

Redcliff Realty Advisors Inc.

RioCan REIT

Scotiabank

Seasons Communities

Timbercreek Asset Management, Inc.

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Below are the 41 companies that participated in the survey:

REALpac 2012 Canadian Real Estate Compensation Survey

Segmented compensation data tablesAvailable for the following 155 positions:

Executive ManagementChief ExecutiveOfficer/PresidentChief Operating OfficerChief Financial OfficerChief Accounting OfficerGeneral CounselChief Information OfficerChief Investment Officer

Senior ManagementExecutive/SeniorVice-PresidentDivision or Subsidiary PresidentRegional/BusinessUnitManagerHead of Internal AuditHead of Human ResourcesCorporate ControllerCorporate TreasurerHeadof NewBusiness/Development

Corporate Services – AccountingDivision ControllerAssistant ControllerAccounting ManagerSenior AccountantStaff AccountantAccounting ClerkAccountsReceivable/AccountsPayableSupervisorAccountsReceivable/AccountsPayableProfessionalJuniorAccountsReceivable/Accounts Payable Professional

Corporate Services – AdministrationOffice ManagerExecutiveAssistantI(C-Suite)ExecutiveAssistantII(Non-C-Suite)Administrative AssistantReceptionist

Corporate Services – Audit and TaxInternal AuditorSenior Corporate Tax ExecutiveTax ProfessionalDirector of Financial Reporting

Corporate Services – CommunicationsHeadof Investor/PublicRelationsCommunications Professional

Corporate Services – Customer ServiceCustomer Service SupervisorCustomer Service Representative

Corporate Services – FinanceVP,FinanceMid-LevelFinanceProfessionalFinancial Analyst

Corporate Services – LegalSenior Legal CounselStaff LawyerSenior ParalegalParalegal

Corporate Services – Human ResourcesHuman Resources DirectorHuman Resources ManagerHuman Resources GeneralistHuman Resources CoordinatorTraining & Development ProfessionalRecruitment ProfessionalCompensation & Benefits ProfessionalJunior Compensation & Benefits Professional

Corporate Services – MarketingHead of MarketingSenior-LevelMarketingProfessionalMid-LevelMarketingProfessionalJunior-LevelMarketingProfessionalSocial Media Professional

Corporate Services – Payroll Payroll ManagerPayroll SupervisorPayroll AdministratorPayroll Specialist

Corporate Services – PurchasingPurchaser/Buyer

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REALpac 2012 Canadian Real Estate Compensation Survey

Segmented compensation data tablesAvailable for the following 155 positions:

Continued...

Corporate Services – Marketing Head of MarketingSenior-LevelMarketingProfessionalMid-LevelMarketingProfessionalJunior-LevelMarketingProfessionalSocial Media Professional

Corporate Services – Payroll Payroll ManagerPayroll SupervisorPayroll AdministratorPayroll Specialist

Corporate Services – Purchasing Purchaser/Buyer

Corporate Services – Risk Management Head of Risk ManagementSenior-LevelRiskManagementMid-LevelRiskManagementJunior-LevelRiskManagementClaims Analyst

Corporate Services – Technology Information Technology DirectorSystems DirectorSystems Manager Systems Administrator Technical Support ManagerTechnical Support SpecialistHelp Desk Professional

Real Estate – Architecture, Engineering & EnvironmentChief Architect/DesignerChief EngineerBuilding EngineerArchitecturalTechnician/DesignerEnvironmental SpecialistCorporate & Social Responsibility LeaderCorporate & Social Responsibility Professional

Real Estate – Asset Management Head of Asset ManagementSenior-LevelAssetManagementProfessionalMid-LevelAssetManagementProfessionalAssociate-AssetManagementAnalyst – Asset Management

Real Estate – Building Ops/Facilities Mgmt Top Facilities Management ProfessionalHeadof BuildingOps./FacilitiesMgmt.Senior-LevelBuildingOps./FacilitiesMgmt.ProfessionalMid-LevelBuildingOps./FacilitiesMgmt.ProfessionalBuilding Operations SupervisorBuilding/MaintenanceOperatorIBuilding/MaintenanceOperatorIIBuilding SuperintendentGeneralFacilities/MaintenanceEmployeeIGeneralFacilities/MaintenanceEmployeeIIGeneralFacilities/CustodialEmployee

Real Estate – Development Head of DevelopmentSenior-LevelDevelopmentProfessionalMid-LevelDevelopmentProfessionalJunior-LevelDevelopmentProfessional

Real Estate – Investments Senior-LevelInvestmentProfessionalMid-LevelInvestmentProfessionalJunior-LevelInvestmentProfessional

Real Estate – Leasing and Administration Head of LeasingSenior-LevelLeasingProfessionalMid-LevelLeasingProfessionalJunior-LevelLeasingProfessionalManager of Lease AdministrationSpecialty LeasingLease Administrator

Real Estate – Portfolio Management Head of Portfolio ManagementSenior-LevelPortfolioManagementProfessionalMid-LevelPortfolioManagementProfessionalJunior-LevelPortfolioManagementProfessional

Real Estate – Project Management Head of ConstructionSenior-LevelConstruction/ProjectManagerMid-LevelConstruction/ProjectManagerProjectCoordinatorTenantProjectManagerConstruction Estimator

Real Estate – Promotions Marketing/PromotionsDirectorMarketing/PromotionsManager

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REALpac 2012 Canadian Real Estate Compensation Survey

Segmented compensation data tablesAvailable for the following 155 positions:

Continued...

Real Estate – Property Accounting Property ControllerProperty Accounting ManagerSenior-LevelPropertyAccountantProperty AccountantJunior-LevelPropertyAccountantRevenue Coordinator

Revenue Coordinator Real Estate – Property Management Head of Property ManagementSenior-LevelPropertyManagementProfessional(Sq.Ft.Over1.5M)Mid-LevelPropertyManagementProfessional(Sq.Ft.1-1.5M)SeniorPropertyManager(Sq.Ft.500,000-1M)PropertyManager(Sq.Ft.Upto500,000)Assistant Property ManagerProperty Administrator

Real Estate – Property Tax Head of Property TaxManager of Tax AdministrationProperty Tax ProfessionalProperty Tax Coordinator

Real Estate – Security Security DirectorSecurity&Life/SafetyManagerSecurity&Life/SafetySupervisorSecurity&Life/SafetyCoordinatorSecurity&Life/SafetyOfficerLocksmith

Real Estate Positions – Tenant Services Head of Tenant Client ServicesTenant Client Services ManagerTenant Client Services CoordinatorConciergeClient Services Professional

Real Estate – Transactions Head of TransactionsSenior-LevelTransactionsProfessionalMid-LevelTransactionsProfessionalJunior-LevelTransactionsProfessional

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REALpac 2012 Canadian Real Estate Compensation Survey

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Participant DemographicsParticipants represent a complete cross-section of the Canadian commercial real estate industry. You will be able to find comparative data that will help you to benchmark your organization’s compensation plans.

Chart 1 Total Revenues

Chart 2 Number of Full-Time Employees

Chart 3 Primary Property Focus

REALpac 2012 Canadian Real Estate Compensation Survey

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Sample Pages

The REALpac 2012 Canadian Real Estate Compensation Survey has been the leading source on total compensation and benefits since 2006. The visibility and insight delivered by this survey is unparalleled in Canada. You will receive data from the survey representing many types and sizes of companies, enabling you to compare and contrast your programs with those of your peers.

The 2012 Canadian Real Estate Compensation Survey includes approximately 300 tables on compensation within the real estate investment industry. No other source provides this depth and breadth of research.

REALpac 2012 Canadian Real Estate Compensation Survey

Sample

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