ORC Awards Property and Land Management Contract to CB Richard Ellis

ORC and CB Richard Ellis partner to raise service quality for the Ontario government’s real estate portfolio

June 11, 2009

NEWS

TORONTO — Ontario Realty Corporation (ORC) has selected CB Richard Ellis (CBRE), the world’s largest commercial real estate services firm, to provide property and land management services for the Ontario provincial government’s real estate assets. This partnership will allow ORC to provide more consistent and better quality services across the entire real estate portfolio through a single service provider and leverage CBRE’s unparalleled platform, technologies and market expertise.

CBRE will engage thousands of Ontario workers and hundreds of Ontario businesses to provide property and land management services to the government’s portfolio of approximately 2,000 buildings and 50,000 acres of land across the province. CBRE brings over 100 years of expertise in commercial real estate and has a strong Canadian presence. The firm currently manages over 2.2 billion square feet of space around the globe and has provided similar service to a number of major Canadian companies. CBRE has received several top industry awards including “best-in-class” company by BusinessWeek, three years in a row.

CBRE was the successful bidder appointed by the ORC Board of Directors after an extensive public procurement process. The procurement of CBRE is an integral part of ORC’s new service delivery model. The new service delivery model will enhance service offerings to ORC clients and improve the value of the province’s real estate assets. ORC will utilize a comprehensive monitoring process, including the use of Key Performance Indicators (KPIs), to measure CBRE’s performance in delivering services. This new model will strengthen ORC’s focus on asset integrity and strategic asset management.

In conjunction with ORC, CBRE will continue to implement ORC’s sustainability programs such as energy efficiency, green cleaning, recycling, waste reduction, energy management training and LEED certification.

Transition to the new service delivery model will begin in summer 2009 with a transfer date for CBRE in October 2009 in ORC’s Central and Southwest regions and April 2010 in ORC’s North and East regions.

QUOTES

“We are enhancing the way we do business to provide leading industry practices to the Ontario government’s real estate portfolio,” said Greg Dadd, Chief Operating Officer, Ontario Realty Corporation. “Partnering with one of the top companies in the industry, who has the expertise and a strong track record of delivering value to organizations around the globe, will allow us to take our property and land management to the next level of service performance that is on par with the best in the business.”

“We are grateful for the confidence and trust that has been conferred upon us by ORC,” said Stefan Ciotlos, President of CB Richard Ellis Canada. “We look forward to servicing ORC, their ministry clientele and the people of Ontario. We are dedicated to leveraging our platform and our people to deliver quality service and value to our client.”

QUICK FACTS

· ORC provides customer-focused real estate services to the Ontario government, including strategic portfolio management, asset management, property and land management and capital projects.

· The property and land management contract includes services to approximately 40 million square feet of space in approximately 2,000 buildings and 50 thousand acres of land across Ontario.

· CB Richard Ellis is the world’s largest commercial real estate services firm with over 100 years of service to property owners, investors and occupiers. CBRE manages over 2.2 billion square feet of global space and has operations in Ontario and all across the world.

LEARN MORE

To learn more about ORC’s property and land management services, please visit ORC’s website at www.ontariorealty.ca.

To learn more about CBRE, please visit CBRE’s website at www.cbre.ca.

Contact:

Bill Moore
Ontario Realty Corporation
416-314-8801

Stefan Ciotlos
CB Richard Ellis Limited
416-847-3247