content_image/214003.jpg content_image/214004.jpg
## 3. Income properties (continued): 

## Acquisitions: 

During the year ended December 31, 2010, the REIT acquired 16 income properties. These acquisitions have been recorded by the purchase method with the results of operations included in these combined financial statements from the date of acquisition. There were no acquisitions during the year ended December 31, 2009. The following table summarizes the acquired net assets at fair value on their respective dates of acquisition: 

<img src='content_image/214003.jpg'>

## 4. Properties under development: 

<img src='content_image/214004.jpg'>

