Investor Information

Investment Highlights

Opportunity to invest in one of the fastest growing economies in Canada with the dominant player in the northern Canadian real estate market.

Unique REIT opportunity

• Strong economic environment in northern Canada

• Economy driven by oil and gas exploration and production, diamond and gold mining, government administration and tourism.

• Substantial GDP growth and high per capita income.

• NWT has the highest per capita GDP in Canada, GDP grew by 8.8% in 2000 and 20% in 2001.

• Nunavut’s per capita GDP exceeds the Canadian average.

• NPR REIT is the dominant player in northern Canada and there are significant structural impediments to new competition.

Strong real estate fundamentals

• Shortage of rental housing in NPR’s primary markets of Yellowknife, NWT and Iqaluit, Nunavut and significant barriers to entry have resulted in strong and growing rental rates.

• Cashflows supported by credit worthy tenants such as government and large corporations - 58% of revenues from leases to Federal and Territorial governments and large corporations.

• Higher capitalization rates, in combination with CMHC guaranteed financing, offers significant positive spread investing opportunities.

Stable and growing cashflows

• Normalized adjusted funds from operations exceed cash distributions at 90% payout ratio.

• Occupancy rates close to 100% for the last 10 years.

• Stable income from high quality tenants and predictable operating costs.

• Low capital investment requirements – properties well maintained and relatively new.

Opportunities for growth

• Unique opportunity to consolidate a fragmented industry, create value through leveraging management’s expertise and gaining economies of scale.

• Strategic alliance with one of northern Canada’s leading developers, provides a pipeline of further acquisition opportunities.

Management team

• Internal asset and property management.

• Management and Trustees to hold a significant stake in the REIT of approximately 14%.