• In accordance with our strategy to replace smaller properties with one larger, easier to manage property, this property is listed for sale, and we will consider legitimate offers.

• The centre is 96% leased. Leasing activity to fill the remaining space continues.
  
• In accordance with our strategy to replace smaller properties with a single, larger, easier to manage property, this property currently has an Offer to Purchase.

• While plans and permits remain in place for the construction of an additional 10,000-sq-ft of commercial/retail space, we are also considering severing off and selling the freestanding pad site.

• Leasing activities continue.

• Leasing activities continue.

• We have begun planning for the construction of an additional 6,000-sq-ft pad for new retail space. Construction scheduling will begin once we have sufficient pre-leasing in place.
  
• Leasing activities continue.

• We are negotiating a lease amendment with Bargain Shop’s space to construct a new storefront that will make it more attractive to customers by the creation of new front-facing storefronts. The plan has been approved by the City and a development permit granted. Our preference is to sell the property at an appropriate price, it is currently listed for sale.

• Property was sold on April 1, 2011.

Fort Saskatchewan Industrial Park - Fort Saskatchewan, AB

• We are awaiting completion of a sewer line extension by the City, before making further improvements to this property.

• Re-merchandising and renovations are complete and the centre is now 100% leased.

• Suites continue to be upgraded as per our original plan.
• In accordance with our strategy to replace smaller properties with a single larger, easier to manage one, this property is listed for sale, and we will consider offers that meet our targets.

• The mall's remaining vacant space is being marketed for lease.
  
• In accordance with our strategy to replace smaller properties with one larger, easier to manage property, this property is listed for sale, and we will consider offers that meet our targets.

• In accordance with our strategy to replace smaller properties with one larger, easier to manage property, this property is listed for sale, and we will consider offers that meet our targets.
• Mr. Lube recently signed a lease, will be moving in June 1/2011 for 3,350 Sq. Ft.

• Revenue up 9.4% from previous year.

• Reviewing opportunity to add new pad commercial units to replace existing gas bar with more profitable tenants.
  
• 3,000-sq-ft vacancy is being actively marketed for lease.
  
• Rexall Drugs has recently purchased the existing pharmacy and extending the lease term and providing the property with a stronger covenant for the long term.

• The centre is 100% leased.
• We have begun to pre-lease space for our planned 14,000-sq-ft expansion.

• Leasing activities continue on ln-line vacanies and Loblaws store replacement tenants.

• IGW REIT, through a subsidiary, owns 41.5% of Partners REIT.
• For more information on Partners REIT, visit: www.partnersreit.com

• Cygnet is 100% occupied.

Colwood City Centre LP – Colwood, BC

• We have successfully refinanced for this Limited Partnership, reducing our interest charges
• Pre-sales of residential condominium suites has begun with initial offering to Member-Partners in January.
  
• Feasibility studies have been completed and we can now sign leases with commercial occupants. Lease marketing activities continue.
  
• Proposals have been made to the new anchor tenants and a construction phasing plan will allow site development work to begin.
  
• Tenants are being relocated prior to construction set to begin later in 2011.

• We have secured refinancing for this Limited Partnership, reducing our interest charges.
  
• Lease negotiations for the smaller spaces are in the final stages.
  
• Negotiations continue to renew our land lease for an extended term.

• BOMA (http://www.boma.org/) has approved this building's "Go Green" environmental certification.
  
• Leasing negotiations with Federal Government continue.

• We are effectively bringing in new tenants while receiving income from existing ones.
  
• Three new tenants have moved in and begun operations.

• We have received a positive judgement and an order nisi. We have made a new offer to the property owner to structure the deal to avoid foreclosure and are awaiting response.

• The site was successfully rezoned to allow large-format retail shopping complexes.
  
• We have leased space to three new retail tenants. Although the tenancies are necessarily short term, to provide us flexibility with our redevelopment plans, they are retail tenants, continuing the properties transition from industrial to retail use.

• Home Depot and Dollar Giant have joined Walmart, Cineplex Odeon and A&W and are thriving in their new locations.
  
• Negotiations underway with numerous tenants.
  
• Many offers to lease in the works, such as Subway, East Side Mario’s, Pier 1 Imports, Tim Hortons, etc.

Miracle Mile Shopping Center - Munroeville, PA

• We have rescinded our offer to purchase this property. All unitholders are either redirecting their capital to our other projects or having their funds returned.

• Anderson Crossing’s leasing activities continue.
• Red Robin restaurant has opened.

• We have successfully acquired the development property, paving the way for construction to commence.
  
• A development permit has been granted by the City.
  
• The City has signed 40-year prepaid lease.

• In accordance with our strategy to replace smaller properties with one larger, easier to manage property, this property is listed for sale, and we will consider offers that meet our targets.
  
• Leasing activities continue.
  
• Strata Plan slated to be incorporated in within the next 60 days.
  
• Member-partners interested in purchasing investment condos with rental pool option, can call their MSM to request information.

• Improvements to the common areas continue, and there is a plan for a 
vertical garden.
• Pre-sales of condominium suites are underway.

• Actively being leased for rent to new tenants.

• In accordance with our strategy to replace smaller properties with one larger, easier to manage property, this property is listed for sale, and we will consider offers that meet our targets.
  
• Work is proceeding on releasing vacant spaces.
  
• New leases completed recently include: a produce store, "Cupcakes," and two new office tenants.
• Future residential redevelopment site.
• Leasing activities continue

• 23.95% annualized return; approx. 39.5% payout of original principal in March with 21.5% treated as a return of capital.

• 44.55% annualized return; approx. 132.75% payout of original principal in March and May with 72.5% treated as a return of capital.