P3 Investments Inc.

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Tom Toni

Dealing Representative

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Private Pension Partners Investments Inc. ("P3I") is a firm incorporated under the Canada Business Corporations Act, with its head office in Winnipeg, Manitoba. P3I is registered under the category of "exempt market dealer" (EMD) in the provinces of Manitoba, British Columbia, Alberta, Saskatchewan and Ontario. P3I was formed primarily for the purpose of raising capital on behalf of Apartment Plus REIT and the P3 Feeder LPs (real estate entities that are managed or controlled by affiliates of P3I) to institutional investors and other persons who qualify as accredited investors and reside in Manitoba, British Columbia, Alberta, Saskatchewan, or Ontario.P3I is also responsible for business development among investment advisors, financial planners, investment counsellors and family offices.

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