Financial Services >> CEO Interviews >> August 9, 2004

PHILIP REICHMANN – O&Y REAL ESTATE INVESTMENT TRUST (OYR_UN:TSX)

PHILIP REICHMANN is Chief Executive Officer at O&Y Real Estate Investment Trust and a Director of O&Y Properties Corporation and Chief Executive Officer and a trustee of O&Y REIT. He began his formal career as a commercial leasing representative at Olympia & York Developments Limited, in 1978. In subsequent years, he was also involved in the development of the World Financial Center in New York and Canary Wharf in London, England. In 1993, together with his partner, Frank Hauer, Mr. Reichmann formed O&Y Properties Inc. to manage and lease a portfolio of 10 office properties consisting of 9 million square feet. In July 1997, he acquired controlling interest in Camdev Corporation and amalgamated O&Y Properties Inc. and Camdev Properties Inc. to form O&Y Properties Corporation, a national property ownership and management company with approximately 25 million square feet under management and an owned property portfolio of 2.5 million square feet. Subsequent property acquisitions in Toronto, Calgary, Winnipeg and Halifax increased the portfolio to 5.6 million square feet. In May 1998, he purchased Enterprise Property Group, a privately owned manager of third party commercial properties, now known as O&Y Enterprise. In September 1999, he acquired a 100% interest in First Canadian Place, a 2.7 million square foot office and retail complex in downtown Toronto. And in June 2001, created O&Y Real Estate Investment Trust, a real estate investment trust focused on the ownership of commercial office buildings across Canada. Profile
TWST: Would you describe O&Y REIT today and give us some idea of its

history?

Mr. Reichmann: O&Y REIT is a real estate investment trust focused on

office properties across Canada.