Annual Report 2011 - Dundee International REIT

More documents

Recommendations

Info

DUNDEE INTERNATIONAL 2011 Annual Report Consolidated statement of comprehensive loss For the period from April 21, 2011, to (in thousands of Canadian dollars) Note December 31, 2011 Investment properties revenue $ 54,274 Investment properties operating expenses 19,774 Net rental income Other income and expenses 34,500 Portfolio management (1,566) General and administrative (3,114) Fair value adjustments to investment properties 7 (23,147) Transaction costs 6 (7,853) Interest expense 17 (13,856) Share of income from equity accounted investments 8 7 Interest and other income 132 Fair value adjustments to financial instruments 18 (14,567) Loss before income taxes (29,464) Recovery of taxes 19 6,263 Net loss (23,201) Foreign currency translation adjustment (18,558) Comprehensive loss $ (41,759) See accompanying notes to the consolidated financial statements PAGE 36
Consolidated statement of changes in equity DUNDEE INTERNATIONAL 2011 Annual Report Attributable to unitholders of the Trust Accumulated Retained other (in thousands of Canadian dollars, Number Unitholders’ earnings comprehensive except number of Units) Note of Units equity (deficit) loss Total Balance at April 21, 2011 — $ — $ — $ — $ — Units issued on formation 16 800,000 400 — — 400 Net loss for the period — — (23,201) — (23,201) Distributions paid 15 — — (11,516) — (11,516) Distributions payable 15 — — (2,925) — (2,925) Public offering of Units 16 43,050,000 430,500 — — 430,500 Distribution reinvestment plan 16 22,316 217 — — 217 Issue costs 16 — (24,108) — — (24,108) Foreign currency translation adjustment — — — (18,558) (18,558) Balance at December 31, 2011 43,872,316 $ 407,009 $ (37,642) $ (18,558) $ 350,809 See accompanying notes to the consolidated financial statements PAGE 37
Page 1 and 2: DUNDEE INTERNATIONAL REIT 2011 Annu
Page 3 and 4: Letter to unitholders I am very ple
Page 5 and 6: Management’s discussion and analy
Page 7 and 8: DUNDEE INTERNATIONAL 2011 Annual Re
Page 13 and 14: SECTION II — EXECUTING THE STRATE
Page 21 and 22: On April 21, 2011, 800,000 Units we
Page 29 and 30: SECTION IV — RISKS AND OUR STRATE
Page 35 and 36: Management’s responsibility for f
Page 37: Consolidated balance sheet DUNDEE I
Page 41 and 42: Notes to the consolidated financial
Page 55 and 56: For the period from April 21, 2011,
Page 67 and 68: Fair value of financial instruments
Page 69 and 70: December 31, 2011 CITY STATE GLA OC
Page 71 and 72: December 31, 2011 CITY STATE GLA OC
Page 73 and 74: Trustees and officers Trustees 1, 2
Page 75 and 76: Concept and Design: THE WORKS DESIG

Annual Report 2011 - Dundee International REIT

Create successful ePaper yourself

Delete template?

Save as template?