Gulf & Pacific Equities Corp. was incorporated under the laws of the Province of Alberta on April 8, 1998 and thereafter completed a public offering of common shares by prospectus dated June 26, 1998.

The company acquires, manages and develops anchored shopping malls in rural centres in Alberta and British Columbia. The Company targets smaller, but rapidly growing hub communities that have hospital, high school, police station and retail/service infrastructure. Management has consistently reinvested cash flow to improve and grow its portfolio of income properties.

The company owns three cash flowing, well-located shopping centre assets. These properties were acquired at an average of $85 per square foot. The two largest properties account for approximately 90{bfa9bec7efcff25713dc14d0ec93c3fbbf05ce1371efe2767cacfb1a974464f7} of the company’s property portfolio. Management estimates the replacement costs of these properties approximate more than $200 per square foot.

In 2006, management entered into an agreement to purchase Tri-City Mall located in Cold Lake, Alberta for $13.3 million subject to a number of conditions. At the time, the acquisition nearly doubles the size of G&P, one result of which is that administrative costs are expected to significantly decline as a percentage of revenue thereby offering investors strong cash flow leverage.

Looking forward, the company has identified other anchored shopping centre acquisition candidates. It has stated its intention to undertake other acquisitions with the objective to attain a critical mass of 1.0 million square feet of properties.