As of October 1, 2008, the portfolio of LREIT consists of 35 multi-family residential projects, four commercial properties and three senior housing complexes.

Twelve of the 34 multi-family residential projects, representing 1007 units, are located in Fort McMurray, Alberta. LREIT has agreed to acquire an additional property in Fort McMurray, which is comprised of 160 units. The concentration of multi-family residential projects in Fort McMurray capitalizes on the demand for local housing which is resulting from the ongoing expansion of the oil sands industry.

Canada's oil boomtown

The first property acquired by LREIT was the Kenaston property. The Kenaston Property is comprised of two buildings – Kenaston Place and Kenaston Village Mall. Kenaston Place is a three-storey office building, comprising 42,917 square feet of rentable area, while Kenaston Village Mall is a single storey retail/service centre, comprising 58,672 square feet. The property is prominently located at the northeast corner of Kenaston Boulevard (Metro Route 90) and Grant Avenue in the southwest quadrant of the City of Winnipeg and borders on the high-income demographic communities of Tuxedo and River Heights. The site area comprises a total of 6.2 acres. Parking is provided for a total of 384 cars.