c a n d i r e l s t v m f u o 1 2005 annual report market value of real estate increased to 963 5 million an increase 293 6 or 17 year over this material was made up unrealized capital appre ciation 93 7 and net acquisitions dispositions spending amortization 199 9 since 2000 the fund has 62 2 average about 12 4 per annum main contributors total appreciation in were calgary office 36 ontario industrial multi residential 11 3 gain on ottawa building developed by returns stellar return 14 comprised 0 income five annualized ten 10 are excellent evidence providing strong low
