本文对加拿大的reits做了详细的研究，具体目录如下，希望对想到加拿大设立reits的朋友和运作、管理的专业投资者和投行朋友有所帮助。






                                                                                   Contents
EXECUTIVE SUMMARY ......................................................................................................................................... 4
A RETROSPECT: NOW AND THEN ....................................................................................................................... 5
OUR TAKE ON WHAT THE FUTURE COULD BEHOLD ..................................................................................... 11
OUR TOP TRADING IDEAS FOR 2009 ................................................................................................................. 14
A BALANCE SHEET PERSPECTIVE .................................................................................................................... 15
VALUATION .......................................................................................................................................................... 19
MULTI-RESIDENTIAL PEER GROUP COMPARISON
Valuation Analysis ......................................................................................................................................................... 21
Operating Analysis ........................................................................................................................................................ 22
Leverage Analysis ......................................................................................................................................................... 23
THE CANADIAN MULTI-RESIDENTIAL RENTAL MARKET ................................................................................. 24
THE INVESTOR-OWNED RENTAL CONDO MARKET........................................................................................ 27

British Columbia ........................................................................................................................................................... 28
Alberta .......................................................................................................................................................................... 29
Saskatchewan .............................................................................................................................................................. 30
Manitoba ....................................................................................................................................................................... 31
Ontario ......................................................................................................................................................................... 32
Quebec ........................................................................................................................................................................ 33
Atlantic Canada ............................................................................................................................................................ 34
Northern Canada .......................................................................................................................................................... 35
THE CANADIAN COMMERCIAL REAL ESTATE MARKET .................................................................................. 36
COMPANY OVERVIEW & RECOMMENDATIONS
Pure Industrial Real Estate Trust (AAR.UN-V) ................................................................................................................ 39
Boardwalk REIT (BEI.UN-T) ......................................................................................................................................... 40
Canadian Apartment Properties REIT (CAR.UN-T) ........................................................................................................ 41
Calloway REIT (CWT.UN-T) ......................................................................................................................................... 42
InStorage REIT (IS.UN-T).............................................................................................................................................. 43
InterRent REIT (IIP.UN.T) .............................................................................................................................................. 44
Killam Properties Inc. (KMP-T) ..................................................................................................................................... 45
Lanesborough REIT (LRT.UN-T) ................................................................................................................................... 46
Mainstreet Equity Corporation (MEQ-T) ......................................................................................................................... 47
Northern Property REIT (NPR.UN-T) ............................................................................................................................. 48
Whiterock REIT (WRL-UN.T) ....................................................................................................................................... 49
APPENDICES ...................................................................................................................................................... 50