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              [html]<thead><tr><td>As at December 31,</td><td></td><td></td><td></td></tr><tr><td></td><td>Note</td><td>2013</td><td>2012</td></tr></thead><tbody><tr><td>ASSETS</td><td></td><td></td><td></td></tr><tr><td>Non - current assets</td><td></td><td></td><td></td></tr><tr><td>Investment properties</td><td>[ 5 ]</td><td>$ 1.476.116</td><td>$ 1.354.665</td></tr><tr><td>Investments in joint ventures</td><td>[ 6 ]</td><td>11.469</td><td>10.289</td></tr><tr><td>Property and equipment</td><td>[ 7 ]</td><td>4.527</td><td>4.574</td></tr><tr><td>Other non - current assets</td><td></td><td>17</td><td>45</td></tr><tr><td></td><td></td><td>1.492.129</td><td>1.369.573</td></tr><tr><td>Current assets</td><td></td><td></td><td></td></tr><tr><td>Cash</td><td></td><td>27.678</td><td>56.726</td></tr><tr><td>Rent and other receivables</td><td>[ 8 ]</td><td>2.751</td><td>3.767</td></tr><tr><td>Inventory</td><td>[ 9 ]</td><td>570</td><td>762</td></tr><tr><td>Other current assets</td><td>[ 10 ]</td><td>9.303</td><td>12.300</td></tr><tr><td></td><td></td><td>40.302</td><td>73.555</td></tr><tr><td>TOTAL ASSETS</td><td></td><td>$ 1.532.431</td><td>$ 1.443.128</td></tr><tr><td>EQUITY AND LIABILITIES</td><td></td><td></td><td></td></tr><tr><td>Shareholders ’ equity</td><td></td><td></td><td></td></tr><tr><td>$ 590.724</td><td></td><td>$ 575.335</td><td>Non - controlling interest</td></tr><tr><td>13.336</td><td></td><td>13.101</td><td>Total Equity</td></tr><tr><td>604.060</td><td></td><td>588.436</td><td>Non - current liabilities</td></tr><tr><td>Mortgages and loans payable</td><td></td><td></td><td></td></tr><tr><td>[ 12 ]</td><td>545.541</td><td>519.712</td><td>Convertible debentures</td></tr><tr><td>[ 14 ]</td><td>96.419</td><td>94.924</td><td>Other liabilities</td></tr><tr><td>2.171</td><td></td><td>2.427</td><td>Deferred tax</td></tr><tr><td>[ 21 ]</td><td>93.221</td><td>83.871</td><td>737.352</td></tr><tr><td></td><td></td><td>700.934</td><td>Current liabilities</td></tr><tr><td>Mortgages and loans payable</td><td></td><td></td><td></td></tr><tr><td>[ 12 ]</td><td>153.589</td><td>105.369</td><td>Construction loans</td></tr><tr><td>[ 13 ]</td><td>14.775</td><td>14.062</td><td>Subordinated debentures</td></tr><tr><td>[ 15 ]</td><td>-</td><td>9.998</td><td>Accounts payable and other liabilities</td></tr><tr><td>[ 11 ]</td><td>22.655</td><td>24.329</td><td>191.019</td></tr><tr><td></td><td></td><td>153.758</td><td>Total Liabilities</td></tr><tr><td>928.371</td><td></td><td>854.692</td><td>TOTAL EQUITY AND LIABILITIES</td></tr><tr><td>$ 1.532.431</td><td></td><td>$ 1.443.128</td></tr></tbody>
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