About Canadian Urban

Over the past 35 years, Canadian Urban Limited (CU) has evolved from a property management company to one of Canada's foremost real estate investment managers. Known for its entrepreneurial operating style, supported by in-house research and disciplined risk management, the company has a track record of generating superior returns on its real estate investments.

With offices in Toronto and Edmonton, CU manages a portfolio of real estate investments for more than 30 major Canadian pension funds. Today, we have a reputation in the pension fund industry as an investment manager that can balance client needs with consistently strong performance.

Performance

Canadian Urban is consistently ranked among the top performers in Canadian real estate investment management. Our portfolio is measured by the Investment Property Databank (IPD) (www.ipdglobal.com). On a five year annualized basis we deliver first quartile performance and are ranked 2nd out of 27 participants.

Full Range of Investment Products

Our reputation reflects our commitment to provide clients with real estate investments tailored to their specific risk/return objectives. We are one of the few companies in Canada that offers clients a full range of real estate investment vehicles. Through discretionary closed-end investment pools, syndications and direct placements, we provide pension fund clients with opportunities to participate in residential, industrial, office and retail property investments.

Today we manage a portfolio of investments of over 50 properties in Canada's major real estate markets: Toronto, Ottawa, Vancouver, Calgary, Edmonton and Winnipeg. Because of our property management roots, we have been able to maintain internal processes necessary for the acquisition, management and disposition of properties.

Research and Analysis

Market research is performed both in-house and with the assistance of external research resources. Market analysis includes, but is not limited to, the following:

Survey of general economic conditions at a national, provincial and local level;
Analysis of real estate sector performance by major metropolitan area; and
Analysis of the economic and market factors that influence a particular investment at the neighborhood and regional level.

In the event that internal market research is inconclusive, external research is obtained.

CU performs a detailed financial analysis and review for every investment. This includes financial modeling of all factors that influence the return on an investment to obtain the most accurate forecast possible given current market information. Sensitivity analysis is also performed to gain a better understanding of the risk associated with the investment.

Seasoned Real Estate Professionals

Canadian Urban is managed by a dynamic group of seasoned real estate professionals. The diversity of our management background, combined with an active presence in real estate markets throughout the country, provides us with the management depth necessary to identify attractive investment opportunities at an early stage.

Corporate Governance

Confidence in standards of behavior is paramount for institutional investors. CU fully embraces good governance as an integral part of its business style and has, during the last several years, undertaken a number of initiatives to further strengthen governance, including:

The addition of three independent Directors to the Board of Directors;
The creation of two important Board Committees:
Audit Committee - chaired by an independent Director;
Investment Committee - contains at least one independent Director;
The formalization of a multi-tier approval process which includes, where appropriate, the review and approval of a Board Committee;
Utilization of expanded research capability to assist in performance, strategy, and risk assessment.
Disciplined Risk Management
CU's team of investment professionals is focused first and foremost on matching client needs with the right investment. This requires achieving the right balance of risk and return, which is why every investment opportunity is approached with the same rigorous and thorough analysis. By combining entrepreneurial instincts with internal research capability, CU is able to identify and act on value-enhancing opportunities without compromising our clients' threshold for risk.

For every property acquired, the company develops a comprehensive plan for maximizing its future value, including an exit strategy for locking in future gains. While some properties may require minor improvements and upgrades, others may represent opportunities to execute elaborate turnaround strategies. In every case, the strategy undertaken is driven by our client's objectives.