CORE The Fund’s valuation process marks-to-market assets to reflect current market conditions, however with the benefit of positive income offsets, the portfolio has been able to limit the downside to just -67bps (total return) year to date. [...] 21.7% been awarded IBCon’s “Most Intelligent Office The Fund navigated a challenging investment Building” award this quarter; highlighting the climate in completing the sale of 7070 buildings unique IT infrastructure and its ability Mississauga Rd, a suburban single tenant # of Properties to monitor sustainability performance in real- office building located in Mississauga, ON. [...] Three Greater Toronto Area office buildings The transaction concluded at a premium to were recognized in Q2, receiving Certificates appraised value, highlighting the strength of the of Excellence from BOMA, with 155 University Fund’s valuation process which aims to ensure Avenue also winning an Outstanding Building that asset values are aligned with current and Commercial Sq Ft of the Year (TOBY). [...] To read it, and for more about the Fund, please visit the following # of Residential Units Developments & Transactions: link: www.gwlrealtyadvisors.com/invest-with-us/ Development forms a critical path to growth 5,937 for the Fund and multiple projects continue to make meaningful progress. [...] YTD FUND GROWTH ($ Millions) 2018 2019 2020 2021 2022 30-Jun Real estate $ 5,288 $ 5,966 $ 5,639 $ 6,141 $ 6,502 $ 6,448 Cash $ 457 $ 443 $ 831 $ 449 $ 415 $ 307 Short term assets & liabilities $ (79) $ (172) $ (150) $ (134) $ (166) $ (168) Gross fund value $ 5,666 $ 6,238 $ 6,320 $ 6,456 $ 6,751 $ 6,587 Net fund value $ 4,747 $ 5,163 $ 5,196 $ 5,316 $ 5,386 $ 5,155 Debt/gross fund value 16.2% 17..
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