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              [html]<thead><tr><td>For the Years Ended December 31,</td><td></td><td></td><td></td></tr></thead><tbody><tr><td></td><td>Note</td><td>2013</td><td>2012</td></tr><tr><td>Property revenue</td><td></td><td>$ 141.112</td><td>$ 133.641</td></tr><tr><td>Property operating expenses</td><td></td><td>( 58.072 )</td><td>( 53.197 )</td></tr><tr><td>Net operating income</td><td></td><td>83.040</td><td>80.444</td></tr><tr><td>Other income</td><td></td><td></td><td></td></tr><tr><td>Equity income</td><td>[ 6 ]</td><td>1.296</td><td>758</td></tr><tr><td>Home sales</td><td>[ 18 ]</td><td>323</td><td>469</td></tr><tr><td>Corporate income</td><td>[ 19 ]</td><td>746</td><td>962</td></tr><tr><td></td><td></td><td>2.365</td><td>2.189</td></tr><tr><td>Other expenses</td><td></td><td></td><td></td></tr><tr><td>Financing costs</td><td>[ 20 ]</td><td>( 35.231 )</td><td>( 34.633 )</td></tr><tr><td>Depreciation</td><td></td><td>( 589 )</td><td>( 540 )</td></tr><tr><td>Amortization of deferred financing costs</td><td></td><td>( 1.643 )</td><td>( 1.605 )</td></tr><tr><td>Administration</td><td></td><td>( 7.878 )</td><td>( 8.832 )</td></tr><tr><td></td><td></td><td>( 45.341 )</td><td>( 45.610 )</td></tr><tr><td>Income before fair value gains, loss on disposition and income taxes</td><td></td><td>40.064</td><td>37.023</td></tr><tr><td>Fair value gains</td><td>[ 5 ]</td><td>13.070</td><td>37.726</td></tr><tr><td>Loss on disposition</td><td></td><td>( 1.401 )</td><td>( 1.286 )</td></tr><tr><td>Income before income taxes</td><td></td><td>51.733</td><td>73.463</td></tr><tr><td>Current tax expense</td><td>[ 21 ]</td><td>( 1.451 )</td><td>-</td></tr><tr><td>Deferred tax expense</td><td>[ 21 ]</td><td>( 9.350 )</td><td>( 19.234 )</td></tr><tr><td>Net income and comprehensive income</td><td></td><td>$ 40.932</td><td>$ 54.229</td></tr><tr><td>Net income and comprehensive income attributable to :</td><td></td><td></td><td></td></tr><tr><td>Common shareholders</td><td></td><td>39.779</td><td>51.727</td></tr><tr><td>Non - controlling interest</td><td></td><td>1.153</td><td>2.502</td></tr><tr><td></td><td></td><td>$ 40.932</td><td>$ 54.229</td></tr><tr><td>Net income per share attributable to common shareholders :- basic - diluted</td><td>[ 22 ]</td><td></td><td></td></tr><tr><td>$ 0.74 $ 0.69</td><td></td><td>$ 1.03 $ 0.97</td><td>See accompanying notes to consolidated financial statements.</td></tr><tr><td></td></tr></tbody>
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