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Financial Highlights

The information listed below reflects the company's financial performance and overall position as at December 31, 2008 and for the year ended December 31, 2008*, expressed in US dollars, unless otherwise noted.

Income-Producing Property Portfolio

  • 105 properties located in 9 countries: Canada, the United States, Austria, Germany, Mexico, the United Kingdom, the Czech Republic, Spain and Poland

  • 27.3 million square feet of leaseable area

  • Portfolio net book value of $1.4 billion

  • Rental revenue of $179 million, an increase of 7% over 2007

  • Rental properties generally occupied under long-term, triple-net leases

  • Majority of properties leased to Magna International Inc. and its subsidiaries

  • Actively seeking new tenants

MID Financial Highlights - Graph of Rental Revenues from 2002 to 2008

Annualized Lease Payments

  • $167.7 million of annualized lease payments from geographically diversified properties

  • Represents a return of 10.9% on the gross carrying value (before depreciation) of our income-producing property portfolio

MI Developments - Annualized Lease Payments - Pie Chart of Breakdown of December 2008 Annualized Lease Payments by Country

Funds from Operations

  • FFO of $178 million, an increase of 25% over 2007

  • FFO per share of $3.82, up from $2.96 in 2007

MI Developments - Funds From Operations from 2002 to 2008

MI Developments - Funds From Operations Per Share from 2002 to 2008

* Effective January 1, 2009, MID has elected to report its financial result using United States generally accepted accounting principles. The effect of such change is not reflected in the information presented here.