Real Estate

OPTrust’s real estate portfolio includes Canadian office, retail, industrial and multi-residential properties owned directly by the Plan as well as investments in Canadian and foreign real estate funds. At December 31, 2011, the net value of our real estate portfolio was $1.8 billion.

Direct real estate investments with a net asset value of $25 million or greater include the following:

						Location	% Ownership
Retail Properties
	4900 27th Street					Vernon, BC	100%
Office Properties
	607 8th Ave SW					Calgary, AB	100%
	801 7th Avenue SW					Calgary, AB	50%
	175 Bloor Street East					Toronto, ON	50%
	777 Bay Street					Toronto, ON	50%
	101 McNabb Street					Markham, ON	100%
	999 de Maisonneuve West					Montreal, QC	100%
Industrial Properties
	1001 Thornton Road South					Oshawa, ON	100%

At December 31, 2011, OPTrust held no real estate investments with a cost or fair market value exceeding 1% of the Total Fund.

Private Markets

OPTrust’s private market investments include private equity and infrastructure portfolios.

At December 31, 2011, OPTrust’s private market holdings included 20 private equity investments and 10 infrastructure investments, invested globally. These investments include both fund vehicles and direct ownership interests. The net asset value of these investments was $1,516 million at year-end.

Private market investments with a cost or fair value exceeding one percent of the total fund at December 31, 2011, included three direct infrastructure investments in: Kemble Water Holdings Limited, Porterbrook Leasing Company and Oceanex Inc.