S E L L I N G A N D B U Y I N G

In the past two years, Caisse de dépôt et placement du Québec has sold its direct and indirect interest in 21 major regional retail properties spread across 12 U.S. states while picking up direct and indirect stakes in these malls in Europe: ❚ Paunsdorf Center in Leipzig, the largest mall in Germany ❚ Zwickau Arcaden in Zwickau, Germany ❚ Wilmersdorfer Arcaden in Berlin (under development, and due to open in 2007) ❚ Wola Park in Warsaw, Poland