Date Closed

August 9, 2007

Lead Office

Toronto

Value

32.25 Million CAD

On August 9, 2007, Charter Real Estate Investment Trust, a REIT focused on the ownership, acquisition, and development of income-producing commercial retail and mixed-use properties, closed a revolving operating and acquisition facility in an amount of up to $32,250,000 with The Toronto Dominion Bank acting as initial lender and administrative agent. Further, Charter also completed a public offering of 13,375,000 trust units. On September 7, 2007, the underwriters exercised their over-allotment option in respect of an additional 1,370,912 trust units, resulting in total gross proceeds to Charter of $50,873,396. The net proceeds of the offering were used by Charter to purchase Cornwall Square, a shopping mall in Cornwall, Ontario and to reduce outstanding indebtedness.