Thursday, August 19, 2010

Dear Member-Partners and Friends,

As I look back at our achievements over the past few months, I can see that there is much to be proud of, with much more to look forward to as well.

First and foremost, we reached the 2000 Member-Partner milestone in July. When I joined LEAGUE last summer, we were just over 1700 Member-Partners strong, with assets under management of some $300 million. Now, along with those extra 300 Member-Partners, our assets under management now stand at $530 million.

Second, I would like to acknowledge the efforts of our leasing and development teams, in particular at our premier development Limited Partnership, Eagle Landing Retail LP in Chilliwack, BC. The tenant list now includes such prominent anchor tenants as Walmart, Cineplex Odeon, The Home Depot and Dollar Giant, along with many smaller but still important retailers, including Booster Juice and Kuro Restaurant, with more to follow. I also am pleased to report that construction is well underway on the site. In fact, you can watch a short video tour of the site here narrated by LEAGUE's co-founder Adam Gant.

The reason I am signalling out the work of our leasing and development people is that we base the property values they generate in great part to their efforts, to set the new prices for the Class A, AA, and AAA Common IGW REIT Units. This shows how crucial their work is for all of us.

So it is no small coincidence that I also am writing to remind you about the forthcoming revaluation of the units of the IGW REIT in two weeks. Although time is limited before the Unit Price changes for the traditional (Class AAA) IGW REIT units, you still can act.

As I said, looking back over the previous few months, I honestly can say there is much to be proud of these days with LEAGUE. And as we go forward together, we will find reason to become prouder still.

Warmest regards,

Emanuel Arruda
Co-Founder & Co-Chair
The LEAGUE Group of Companies