Homburg Invest Inc. History

Homburg Invest grows value by managing, acquiring and developing high quality assets that return consistent increases in property and development revenues over the medium to long term. That growth philosophy is underpinned by a culture of risk mitigation that is reflected in all aspects of our business.

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Incorporation

The origins of Homburg Invest (“Homburg” or the “Company”) go back to the year 2000 following the successful sale of the European assets of Uni-invest to a major American investment bank.

Homburg Invest Inc. became a publicly listed company in 2000 as a result of a reverse take-over of Basic Realty. Basic Realty was the public company that resulted from the amalgamation of Northern Glacier Resources Inc. and 844717 Alberta Ltd. on October 21, 1999. On December 10, 1999, it became listed on the Canadian Venture Exchange (now the TSX Venture Exchange). On September 19, 2000, Basic Realty agreed to acquire 100% of the issued and outstanding shares of Uni-Invest Canada Ltd., a private real estate investment company, in a share exchange transaction. This share exchange transaction closed on October 23, 2000, at which time Basic Realty changed its name to Uni-Invest Ltd. On January 10, 2001, Uni-Invest Ltd. changed its name to Homburg Invest Inc. and the shares of the Company were delisted from the Canadian Venture Exchange and listed on the Toronto Stock Exchange (TSX).

The Class A Shares and the Class B Shares of Homburg are listed and posted for trading on the TSX under the symbols HII.A and HII.B, respectively. The Class A Shares are also listed and posted for trading on Eurolist under the symbol HII.

Growth History

In October 2000, the Company had approximately $89 million in real estate assets.

In 2003, Homburg made significant acquisitions, including the acquisition of 16 properties in the United States from Homburg Uni-Corp Inc., a company controlled by Richard Homburg. In that year, the Company also acquired seven standalone Zellers locations across Canada, which added approximately 700,000 square feet to its portfolio. By December 31, 2003, the Company’s real estate assets had grown to approximately $248 million.

In 2004, the Company continued to acquire Canadian real estate, including 10 Pizza Hut locations in the Province of Québec, the initial acquisition of land for development in Calgary, Alberta and the construction of the Vintage Towers II office complex in Calgary, Alberta to reach approximately $282 million of real estate assets at the end of December 2004. The Board of Directors approved a strategic growth plan which included development of significant properties in Alberta, with the objective of diversifying its property portfolio across Canada, Europe and the United States.

In early 2005, further acquisitions were completed, including the acquisition of additional development properties in Calgary, Edmonton, and Grande Prairie, Alberta, which included the Citadel West and Castello Tower properties, the Inverness Estates condominium development, the Churchill Estates condominium tower, and the Homburg Harris Centre. The Homburg Harris Centre was developed into a 633,000 square foot commercial office tower in downtown Calgary.

In June 2005, Homburg acquired 11 commercial properties in prominent locations in Germany and the Netherlands. The portfolio was comprised of office buildings, shopping centres, logistics centres, production, and warehousing and distribution facilities. These included the Quelle complex in Nurnburg, Germany and the Deutsche Annington office complex in Bochum, Germany, which marked the Company’s first acquisitions in Europe.

In December 2005, two other office/warehouse complexes located in Amersfoort and ‘t Harde in the Netherlands were acquired for total consideration of approximately $25 million. As at December 31, 2005, the Company’s real estate assets totalled approximately $817 million.

Growth continued in 2006, with the acquisition in February of that year of an additional eight Pizza Hut locations and one Swiss Chalet and Harvey’s location in Québec and Ontario on a sale-leaseback basis for total consideration of $9 million in cash.

In March 2006, the Company acquired a 17-tenant retail shopping centre in Wittenburg, Germany for total consideration of approximately $42 million.

In May 2006, the Company announced that Homburg BPF Canada, a joint venture with SNS Property Finance (formerly Bouwfonds Property Finance), a major Dutch financial institution, and an affiliate of Télémedia Ventures Inc. (Montréal, Québec,) acquired the historical Château Viger in downtown Montreal.

In May 2006, the Company also acquired the headquarters and research centre of Infineon Technologies AG, a New York and Frankfurt stock exchange listed company based in Munich, Germany. This facility consists of 12 buildings totalling approximately 1.6 million square feet.

In June 2006, the Company completed the acquisition of four large office properties in Groningen, Eindhoven and Rotterdam in the Netherlands for total consideration of approximately $200 million. These properties total approximately 970,000 square feet and are occupied by world class public companies under long-term leases.

In December 2006, the Company acquired four office complexes located in Eindhoven, Sittard, Rotterdam and Tilburg in the Netherlands for approximately $61 million.

The Company’s success in executing these transactions, managing the resulting growth and accessing capital has allowed Homburg to grow its total real estate assets, on a pro forma basis, to approximately $2.4 billion as at December 31, 2006.

In February 2007 Homburg Invest Inc. has completed the purchase of five office buildings in The Netherlands. The properties are located in Venlo, Eindhoven, Gouda and Roermond (2 locations) and are leased by various good quality tenants with an average lease term of five years. The aggregate cost to Homburg Invest to these properties amounted to approximately EUR 24 million and was financed by newly arranged long term financing of EUR 19 million, cash and shares of Homburg Invest totalling EUR 4,5 million. This resulted in the issue of 1,000,000 shares at € 4.50 per share

In April 2007, the Company acquired approximately 70% of the issued and outstanding units of Alexis Nihon, subsequently owning a total of approximately 87% of the units. In June 2007, Homburg sold substantially all of the industrial and office properties of Alexis Nihon (excluding the office component of Place Alexis Nihon) to Cominar. As a result, Homburg acquired almost 1.5 million square feet of prime retail properties in Montreal. In December 2007, Homburg acquired a portfolio of 63 properties located in Estonia, Latvia and Lithuania from SEB Group. The acquired portfolio consists of 47 properties occupied by SEB Group under long term leases and 16 properties which are primarily leased to other tenants. Following the transaction, Homburg sold the industrial and certain office properties from the Alexis Nihon transaction to Cominar.

In May and June 2007, Homburg finalized the acquisition of several properties in The Netherlands, including an industrial building with office space in Beuningen consisting of four constructed and separated industrial buildings and an office building and three connected office buildings in the Kronenburg Business Park in Amstelveen.

In September 2007, Homburg added a key Canadian asset to its growth portfolio when it reached an agreement with CN for the sale of the Central Station Complex in Montreal at a price of $355 million, on a sale-and-leaseback basis.

In November 2007, Homburg Invest entered into a joint venture with DEGI Deutsche Gesellschaft für Immobilienfonds mbH, a German pension fund, for the sale to DEGI of the Homburg-Harris Centre in Calgary for $376 million. Under the joint venture agreement, Homburg Invest Inc. acquired a 10 % holding in the property holding company while Homburg Canada Inc. handles local management of the property.

In December 2007, Homburg Invest, through its wholly owned U.S. subsidiary, closed a joint venture arrangement with Cedar Shopping Centers Inc. (NYSE: CDR) to own shopping centers in Pennsylvania and Massachusetts. Cedar Shopping Centers Inc. is a self-managed real estate investment trust focused on supermarket-anchored shopping centers and drug store-anchored convenience centers. Homburg acquired an 80% interest in the joint venture. The properties, valued at approximately US $170 million, involve eight shopping centers.

In September 2008, Homburg Invest was added to the S&P/TSX SMALLCAP INDEX. This event was a positive acknowledgement of Homburg’s growth and development over 2008.

In November 2008, Homburg Invest undertook a three staged redevelopment of Charlottetown’s Confederation Court Mall which will significantly improve services and commercial spaces of the historic downtown of Charlottetown, Prince Edward Island. All phases are scheduled to be completed by end of 2010 or early 2011.

As at year-end, December 31, 2008, the Company’s real estate assets were valued at $3.97 Billion (Cdn) under International Financial Reporting Standards.

In March 2009, Homburg Invest was added to the NYSE Euronext Global Index – AscX Index (Small Cap). This milestone in Homburg’s history reflects the growing acceptance of its securities as benchmark listings.

In June 2009, Homburg Invest announced its new strategic direction, aiming to focus the Company’s activities exclusively on income producing properties and including a plan for the reorganization of Homburg’s equity structure through the creation of a single class of common shares.