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Industrial properties. Less affected by Alberta markets as it is more Ontario and Québec, but the 22% decline was crazy. You’re getting exposure to a US recovery, you’re getting a Canadian recovery, and you still have 30% Alberta exposure. Seeing great movements in rents with a little bit of increase coming through. 8.43% yield.

A fantastic company. Specializing in urban development. They are able to go into areas, take a broken piece of real estate and maximize its true potential and develop the neighbourhood as they do it. Great balance sheet and redevelopment potential in its core urban portfolio. This has pulled back 7% so you are getting it at a discount to NAV of about 5%. Dividend yield of 4.91%.

Apartments, mostly in the Maritimes but also in Ontario. Stock has been beaten up, but there was no need as the Maritime economy is booming. Shipbuilding contracts are creating a lot more jobs with a long track record going forward. Have also been doing some excellent development projects. Solid balance sheet. Yield of 5.32%.

REITs. Prices have been quite weak since the announcement of the tapering news, however real estate fundamentals have been excellent. While the REITs aren’t bidding for properties, there are lots of pension funds that are there supporting the works. Maybe not as many, but there is still good flow on real estate transactions. You have to be selective, but the falloff was overdone for many names. Many are showing good solid growth and trading at very large discounts to NAV. This gives you opportunities to pick up extra names and, as well, you are gaining extra yield. He is currently slightly overweight in the US due to the opportunities that are there.

Trading at a very slight premium to NAV. It usually deserves a much higher premium because they have incredible urban developments. This is high beta so if you get a recovery in the REIT markets this is a good stock to own at these levels. 5.76% yield.

Dropped 20% in mid-August. The stock actually held in while the rest of the market was collapsing, which gave it tremendous outperformance. However, earnings have surprised to the negative. Have 6 retirement homes and the rest are long-term care, government contract. At this level, it offers a very attractive yield. 8.7% yield.

This is part of a group of REITs that came out at the end of the cycle. Cross-border REIT so its assets are in the US. Externally managed which is a disadvantage. However, advantages you are getting are access to US assets. Apartment buildings, mostly in Texas with lower income levels. Looking really cheap at these levels. Have shown very impressive cash flow growth in the 8% range and he thinks this will pull back to the mid-5% range. 6.87% yield.

This one was unfairly punished. Fantastic balance sheet. Where investors have struggled is how to value properties in Iqaluit. He has found that the stability of the cash flow is excellent. Debt is low and has a good yield. Undervalued. 5.57% yield.

Recently has moved into the US and likes their payout ratio on the US side. For example, they have moved into Arizona and Denver, which are very fine moves. He is a little more concerned about the Canadian side as it has a lot of tenant exposure. The move into the US will provide limited risks as well as new income sources going forward. 7.51% yield.

A good, long-term hold. Nature of their leases is to have them longer than most, so some of their office buildings have 20 year leases. Payout ratio is quite low so that they can still do certain kinds of development or add-on projects. This is why the yield is low. Recently took over Primarus and he is a little more concerned on stocks that are in transition. 6.36% yield

They own senior care homes, but on a triple net lease structure. They don’t have the risk of operating the buildings. They just own the building and lease it to someone else who manages the operation. Mostly in the US, in the Chicago, Illinois area. Feels it is trading a little bit above NAV, but it gives you a very good yield. The 8.25% yield is very safe.

(A Top Pick July 31/13. Down 1.74%.) An industrial company in the US. They buy in the 6 key core markets, the main port cities. They recognize that there is a strong economic up tide going on in those markets. Industrial markets give you one of the greatest exposures to the economy. Still likes.

(A Top Pick July 31/13. Down 8.85%.) Great US apartment company that is diversified and increasing the in-development work, especially in the Texas area. Has been a little bit weak in the last while. Yield of around 3%-4% and growth at around 5% plus they are doing development that has a good return as well.

(A Top Pick July 31/13. Down 4.7%.) Good diverse company, based in Québec. Stock has been under pressure, which he thinks is partly because of concerns about Québec. Has liked this for a long time, but it has been disappointing. Last earnings were a little bit disappointing on their operation side. About 7% yield but not a lot of growth.

A big fan of this one. Great company and in a great sector. Gives exposure to the Canadian economy but also tends to do well when the US is doing well. Solid 7.3% yield. Good growth with possibilities of 2%-3% NOI.