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Request foR PRoPosalJoint VentuRe oR foR sale

The Sheridan Lands - 1430 Trafalgar RdOakville, Ontario, Canada

OpportunityOn behalf of Sheridan College Institute of Technology and Advanced Learning (“Sheridan”), Avison Young Commercial Real Estate (Ontario) Inc., Brokerage, is pleased to offer the property described herein through a joint venture or for sale (through a Request for Proposal Process); The Sheridan Lands, Oakville, Ontario. This 17.46 acre development site is located north of the QEW, at the northwest corner of Trafalgar Road and Sheridan College (Ceremonial Road).

Table of Contents

Confidential Investment MemorandumOakville, Ontario

Confidential Information & Disclaimer 3Executive Summary Introduction 4

Investment Highlights 5Contacts 6

Property Overview Investment Highlights 8Site Plan 10Fact Sheet 11Land Use 12Zoning 13

Location Overview Site Location Map 15Location Overview 16Location Attributes 17

Market & Economy Market & Economic Fundamentals 19Developments 21Development Radius Map 22

Additional Information Offering Guidelines 24

Confidentiality & Disclaimer


Confidential Information & Disclaimer This is a Confidential Investment Memorandum (“CIM”) intended solely for your own use in considering whether to pursue negotiations for the subject address, 1430 Trafalgar Road, Oakville, Ontario (the “Property”). It contains selected information and has been prepared by Avison Young Commercial Real Estate (Ontario) Inc., Brokerage (“Avison”) primarily from information obtained from Sheridan records with respect to the Property and from reports prepared by third parties.

This CIM does not purport to be all-inclusive or to contain all of the information that a prospective proponent may desire. Neither the Vendor nor Avison, nor any of their officers, employees or agents make any representation or warranty, expressed or implied, as to the accuracy or completeness of this CIM or any of its contents or as to any aspect of the Property and no legal liability is assumed or is to be implied with respect thereto. All numerical information in this CIM is approximate only. Each prospective proponent must rely on its own inspection and investigation in order to satisfy itself on any matter with respect to the Property. Nothing herein shall form part of any proposal submitted.

By accepting a copy of this CIM, you agree that the CIM and its contents are confidential, that you will hold and treat it in strict of confidence and that you will not use any of the information herein for any purpose except to determine whether you wish to make a proposal for the Property.

Sheridan and Avison expressly reserves the right at their sole discretion to cease offering the Property, to reject any and all proposals, expressions of interest or proposals to purchase and to terminate discussions with any party at any time, with or without notice.

This CIM shall not be deemed a representation of the state of affairs of the Property or constitute an indication that there has been no change in the business or affairs of the Property since the date of preparation of this CIM.

Conditions The Property and all fixtures, chattels and equipment, if any, included therein, are to be considered on an “as is, where is” basis and there is no representation or warranty, express or implied, as to title, description, condition, cost, size, merchantability, fitness for purpose, quantity or quality thereof.

Any information related to the Property which has been, or will be, obtained from Sheridan or Avison or any other person by a prospective proponent, is prepared and provided solely for the convenience of the prospective proponent and will not be warranted to be accurate or complete and will not form part of the terms of a proposal or an agreement of purchase and sale. Further information can be obtained by contacting the listing agents.

Executive Summary


Executive SummaryIntroductionAvison has been engaged by Sheridan to market the Property otherwise described as the Sheridan Lands.

Background for Future DevelopmentSheridan’s mission is to deliver a premier, purposeful educational experience in an environment renowned for creativity and innovation. As such, in 2010, Sheridan outlined a framework for an institution-wide sustainability and energy initiative whose ambitious mandate would re-envision its energy future, set breakthrough performance targets, and begin developing highly integrated energy and climate curriculum for the College. Sheridan’s commitment and forward looking approach to sustainability was evident in 2012 as it became the first Ontario College to have undertaken the Association for the Advancement of Sustainability in Higher Education (AASHE) substantial rating process.

Given this mission and commitment to becoming a role model for sustainability, energy efficiency and climate mitigation in Ontario and Canada, Sheridan has developed a fully Integrated Energy Master Plan (IEMP), spanning all of its campuses, including the Trafalgar Campus, and is supported by the following world class framing goals:

• Energy Efficiency Gain (at least 50% by 2030 below 2005 baseline)

• Greenhouse gas emissions reduction (at least 60% by 2030)

• Strong Internal Rate of Return on recommended investments

• Create a campus-wide energy culture

• Ensure energy supply reliability

• Become a platform for flexible new energy technologies

• Create a ‘living laboratory’ for the development of competitive energy and climate curricula

• Become a national and community Role Model

Guidelines for Future DevelopmentIt is Sheridan’s belief that new construction and development partners will benefit from being a part of Sheridan’s overall sustainability and energy philosophy and world-class energy performance. Lower energy costs will mean better value for tenants and lower overhead for property managers. Owners who embrace Sheridan’s philosophy will see this new

partnership as a significant competitive advantage which will build property value.

New construction on Sheridan property will be LEED Gold or better and will be supported by a strong network of energy professionals to help integrate world- class energy and climate design targets and operations. This approach has already been integrated in the design of Sheridan’s Hazel McCallion North Campus in Mississauga, Ontario. It is Sheridan’s intention to extend heating and cooling services to developable sites and has factored in campus energy and investment planning, opening up many investment benefits for potential investors, including the freeing up of usable space, competitive energy costs and significantly reducing environmental impacts of on-campus buildings.

Sheridan’s RequirementsAs part of this RFP, Sheridan, when evaluating responses, is looking for a creative solution to have up to 250,000 sf constructed for its own use on the site. They can be used as part of the revenue model for the College to enable Sheridan to create long-term income. Please present any financial model that might accommodate this when responding.

Sheridan requires a 600 - 800 seat Theatre/Auditorium to accommodate the growing needs of the Bachelor of Applied Arts Music Theatre Performance. This theatre facility will also include the following ancillary spaces:

• A multi-use rehearsal hall/studio space

• A fly tower for the main-stage

• Paint shop, carpentry shop, costume shop and prop shop

• Orchestra pit

• Dressing rooms

• Stage management office

• Administration office for production manager

• Green Room / Actor’s lounge

• Box office

• Loading dock

The theatre will also accommodate students for graduation purposes and act as a revenue generator as it could be leased out by the College when not in use during the year.

There is a further need to build an Art Gallery with adjacent art and display storage spaces.

As outlined on the master plan, Sheridan is interested in creating additional onsite buildings to accommodate the expanding student population in Oakville.

Executive Summary


Investment HighlightsHigh-traffic location; great public transit corridor

Trafalgar Road is a high volume thoroughfare in the Town of Oakville, and offers exceptional street exposure and traffic flow. The area is well-served with a GO Transit station located within minutes fromthe subject property, which connects to Downtown Toronto.

Trafalgar Road is currently served today with a high level of bus transit, and in the future will be considered for a Bus Rapid Transit (BRT) line, running on dedicated lanes. The BRT is planned to serve Oakville and Milton, connecting the two communities, and will eventually link Oakville to Pickering, resulting in a 100 km BRT system. The BRT is predicted to reduce traffic along this major street, eliminating an inefficient overlap of current bus services. (Further information on transportation can be found on page 17).

Exceptional amenities and clientele base

The immediate area contains a regional shopping mall; Oakville Place, which consists of several clothing stores, book stores, furniture stores, restaurants and more. GoodLife Fitness, Walmart Supercentre and the New Oakville Hospital are also located within minutes north of the subject property near the Dundas Street East and Trafalgar Road intersection.

Property Highlights

Total Acreage: 17.46, as seen on page 9 - 760,000 sf of developable land.

Current CampusDevelopment: Home to over 9,000 students,

offering programs in Animation, Arts and Design, Business, Community and Liberal Studies and Applied Computing, and Engineering Studies. Sheridan Campus also includes an athletic facility, a Student Centre, library, cafeteria and other food outlets

Year Established: 1967

Asking Price: Unpriced

Submission Date: January 17th, 2013

Contact Us


Peter DeGuerre*[email protected]

Listing Agents

* Sales Representative**Mortgage Broker

Norman Arychuk**[email protected] No. 10637

David Scott**[email protected] No. 10637

Debt Capital Markets

For more information please contact the Avison Young Listing Team:

Christopher Brown*[email protected]

Property Overview

The Property


Property Details Description• The subject property is located north of the QEW on the west

side of Trafalgar Road, south of Upper Middle Road East.

• Well positioned in relation to area amenities including major commuter routes (such as QEW/403/407)

• Within close proximity to Oakville Place Shopping Centre, Oakville Golf Club

• The Town of Oakville has a population of approximately 182,520 people

• Oakville is accessible via train, air, or public transit (for further detailed information see page 17)

Site DescriptionSize: 17.46 acres

Zoning: Agricultural (A)

Realty Taxes

Sheridan College currently does not pay taxes, however, based on whatthe entity is that enters into a joint venture with Sheridan College, taxesmay apply.

Property HighlightsMASSING POTENTIAL

CommerCial:8 Storeys

1,080,000 SF

institutional:3.5 Storeys

500,000 SF

retail/other:At grade 2nd FL

100,000 SF

CAMPUSCommerCial:

7 Storeys

360,000 SF

institutional:3 Storeys

660,000 SF

retail/other:2 Storeys, Street access

170,000 SF

Artist Rendering - Trafalgar Road

The Property


The Property


Site Plan

The Property


Fact Sheet

Owner: THE SHERIDAN COLLEGE INSTITUTE OF TECHNOLOGY AND ADVANCED LEARNING;

Municipal Address: 1430 Trafalgar Road, Oakville Ontario

Size: 17.46 acres (760,000 SF)

Legal Description: PT LT 13, CON 2 SDS, PTS 2 & 3 HR105 S&E PTS 1 TO 4 20R16680; PT LT 14, CON 2 TRAF SDS PTS 1 & 4, HR105; OAKVILLE. S/T 257911, H10050 & H10051. S/T EASE H803225 OVER PTS 2 & 3, 20R13239. S/T EASE HR59007 OVER PTS 3, 4 & 7, 20R13399.

PIN: 248770416

Asking Price: Unpriced

> 760,000 SFFOOTPRINT

The Property


Land Use DesignationOfficial PlanThe property has a current Land use designation of Institutional.

The permitted uses for Institutional are as follows:

Uses permitted within the Institutional designation may include educational facilities with residential accommodations, colleges and universities, health care facilities and hospitals with ancillary uses, places of worship on sites greater than 2.5 hectares, government and cultural facilities, and residential accommodations associated with institutional uses (Section 15.1.1).

Additionally, section 15.1.3 states: Institutional uses in residential areas shall be designed to ensure that they are compatible with adjacent land uses and are of high quality design and conform to the urban design policies.

The Property


ZoningThere is currently an In-Zone Project underway (Oakville’s development of a new comprehensive Zoning By-Law). The target adoption date is September 2013. Until the new Zoning By-Law is approved by Oakville’s Council, Zoning By-Law 1984-063, Oakville’s main comprehensive Zoning By-Law, remains in effect and applies to the subject property.

The subject property is currently zoned “A” - Agricultural.

Permitted uses for the Agricultural designation are as follows:

• An Agricultural Use

• One detached dwelling

• The office of a physician used for consulting and emergency treatment only in the detached dwelling used by him as his private residence

• The office of a veterinary surgeon, and premises for the treatment or boarding of animals

• Parks, playgrounds, recreational areas and community centres

• Churches and other places of worship, with or without church halls used for functions conducted by church organizations only

• Public and private schools

• A public hospital or private hospital or clinic licensed or approved under a Statue of Ontario

• Provision of private-home day care

• The conduct of a trade or business, provided not more than 25% of the floor area is used for the purpose, no sign is displayed, no person outside members of the family residing on the premises is employed, no goods are stored on the premises and no shipping is done from them, and there is no public office or visiting of the premises by customers, clients or salesmen on business

Location Overview

The Location


The Location


Location Overview

The Location


The Town of Oakville

At a Glance Distance from 1430 Trafalgar | Town of Oakville1 km 3 km 5 km Total

Total Population (approximate 2011) 9,464 62,863 125,528 189,854

Median age of population 40.5 39.0 39.4 39.2

Employed Persons 5,780 36,058 70,996 106,668

Number of Households 3,577 21,573 43,180 65,973

Average Household Income $110,260 $132,218 $149,532 $143,449

Dominant Building Type Single-Detached House

Single-Detached House



Approximate Travel Time* to: Ground Air

Montreal 6 hours 1.10 hours

Ottawa 5 hours 0.45 hours

Kingston 3 hours N/A

New York City 8 hours 1.25 hours

Source: Statistics Canada*Travel times are approximate

The Property is located on the west side of Trafalgar Road, just south of Upper Middle Road, in the uptown core of Oakville. This area is a growth area in Oakville with mixed use developments.

The Town of Oakville is located within the Halton Region and is part of the Greater Toronto Area. The current Oakville population is 182,520 people (which represents a 10.2% increase since the 2006 Census). Oakville is becoming increasingly diverse and is host to several annual festivals such as the Jazz Festival which occurs every summer and includes performances at a number of stages along Lakeshore Road East, Waterfront Festival, For the Love of the Arts Festival, Midnight Madness that provides local stores the opportunity to showcase new products and sales, and much more.

There are several elementary and high schools in Oakville and are a mix of both private and public, with Oakville offering one of the highest ratios of private schools to student population in the country.

TransportationLocal Being several minutes away from a variety of public transit systems, the subject property is easily accessible by

bus, car or train.

Rail/Bus Oakville GO Transit is located at 214 Cross Avenue, which is located approximately 2.7 km southeast from the subject property. This station connects to Toronto’s downtown core at Union Station and the City of Hamilton to the west.

Air Toronto Pearson International Airport is approximately 36 km from the subject property.

Highway Highways close to the property and which serve the area include Highway 407, commonly referred to as the Express Toll Route (ETR). This highway is a privately operated 400-series highway and a toll way in Ontario. Another highway within the immediate proximity to the subject property is the QEW which connects to Highway403 and 401 and other 400 series highways.

Market & Economy

The Market & Economy


Market & Economic Fundamentals

Mid-Year 2012

Partnership. Performance.

Capitalization Rates

Spread to 10-year Canada Bond Rate

Product Type Q2-11 Q1-12 Q2-12 Q2-11 (bps) Q1-12 (bps) Q2-12 (bps)

Downtown AA Office 5.9% 5.5% 5.5% 281 338 378

Single Tenant Industrial 6.5% 6.3% 6.2% 341 418 448

Multi Tenant Industrial 6.7% 6.6% 6.4% 361 448 468

Tier I Regional Mall 5.6% 5.2% 5.2% 251 308 348

Multi Residential(Suburbs) 5.9% 5.4% 5.1% 281 328 338

5.0%

5.5%

6.0%

6.5%

7.0%

7.5%

8.0%

8.5%

9.0%

9.5%

10.0%

'00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 Q1-11

Q2-11

Q3-11

Q4-11

Q1-12

Q2-12

Avg.

Cap

Rat

e

Capitalization Rates

Downtown AA Office Single Tenant Industrial Multi Tenant Industrial Tier I Regional Mall Multi Residential

$935 $882

$1,737

$567 $366

$4,487

$2,672

$877 $671 $790 $656

$5,666

$0

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

Office Industrial Retail Multi Res Land Total

$ Vo

lum

e (M

illio

ns)

Investment Volume

1H 2011 1H 2012

Investment Monitor

Toronto

Mid-Year 2012


$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

Q108 Q208 Q308 Q408 Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111 Q211 Q311 Q411 Q112 Q2 12

Millio

ns

Office Retail Industrial Multi-Res ICI Land

$7.1 Billion

$4.1 Billion

$7.4 Billion

$9.5 Billion $5.7 Billion

Investment Monitor

Toronto – Investment Volume

Investment MonitorGreater Toronto Area

Investment MonitorGreater Toronto Area - Investment Volume



Mid-Year 2012


Investment Monitor

Toronto – Investment Volume by Sector

Industrial, $877, 15%

Office, $2,672 ,

47%

Land, $656, 12%

Retail, $671, 12%

Multi-Res, $790 , 14%

1H 2012

Total $Volume: $5,666 (million)

Industrial, $882, 20%

Office, $935, 21%

Land, $366,

8%

Retail, $1,737

39%

Multi-Res $567 12%

1H 2011

Total $Volume: $4,487 (million)

Investment MonitorGreater Toronto Area - Investment Volume by Sector



Developments

OFFICERecently Completed

• 3450 Superior Court, Oakville (Great Lakes Business Park Phase II) – 48,339 sf

• 3470 Superior Court, Oakville (Great Lakes Business Park Phase II) – 43,249 sf

• 1405 North Service Road East, Oakville (Joshua Creek Corporate Building C) – 31,606 sf

• 1425 North Service Road East, Oakville (Joshua Creek Corporate Building B) – 61,430 sf

• 1465 North Service Road East, Oakville (Joshua Creek Corporate Building A) – 28,059 sf

• 1320 Cornwall Road, Oakville – 29,776 sf

• 1 Gateway Boulevard, Brampton – 50,631 sf

• 60 Gillingham Drive, Brampton – 63,400 sf

• 7125 Mississauga Road, Meadowvale – 126,000 sf

Confirmed New Construction

• 5035 Spectrum Way, Airport Corporate Centre (Spectrum Square – Building 1) – 128,788 sf

• 175 Galaxy Boulevard, Airport East (Galaxy Airport Centre) – 80,950 sf

• 4900 Palladium Way, Burlington (Emery/Alton Corporate Centre) - 30,000 sf

• 4903 Thomas Alton Boulevard (Emery/Alton Corporate Centre) - 30,000 sf

• Longside Drive, Heartland (Longside Drive @ Derry/Hurontario) - 65,980 sf

• 7685 Hurontario Street, Heartland - 73,600 sf

• 6925 Century Avenue, Meadowvale (First Meadowvale Centre - Phase II) - 250,000 sf

• 1919 Minnesota Court, Meadowvale – 125,000 sf

• 7100 West Credit Avenue, Meadowvale - 95,868 sf

• 4080 Confederation Parkway, Mississauga City Centre (Parkside Village) - 60,000 sf

• 1565 North Service Road, Oakville (Siemens Canada Building) - 110,000 sf

• 354-364 Davis Road, Oakville - 175,000 sf

Future Development Site (currently under preleasing)

• 5400 Explorer Drive, Airport Corporate Centre – 330,000 sf

• 5135 Creekbank Road, Dixie and Eglinton – 250,000 sf

• 2380 Meadowvale Boulevard, Meadowvale (First Meadowvale Centre - Phase IV) – 250,000 sf

• 2727 Meadowpine Boulevard, Meadowvale (Gateway Meadowvale I) - 200,000 sf

• 2777 Meadowpine Boulevard, Meadowvale (Gateway Meadowvale II) - 200,000 sf

• Spectrum Way, Airport Corporate Centre (Spectrum Square – Building 2) – 188,000 sf

• Spectrum Way, Airport Corporate Centre (Spectrum Square – Building 3) - 188,000 sf

• 1395 North Service Road West, Oakville – 171,250 sf

• 1405 North Service Road West, Oakville - 171,250 sf



Developments Radius Map

Additional Information

Offering Guidelines


Offering Guidelines

Offering Process• Proponents are advised that this property is available on an “as is/where is” basis.

• Deposits can be staged, although the initial deposit should be no less than $250,000.00 and the total deposit upon firming should be no less than $500,000.00.

• Proposals / Offers should indicate the names of the ultimate beneficial purchasers and their respective interests.

• Proposals / Offers should also include terms and conditions of the due diligence period and the closing date.

• All development is subject to approval by the Board of Governors of Sheridan.

• The proponent shall be responsible for the payment of all brokerage fees upon successful completion.

• Interested parties should submit offers to:

Peter DeGuerre*Vice President T: 416.673.4004E: [email protected]

18 York Street, Suite 400 Toronto, Ontario M5J 2T8 T: 416.955.0000 F: 416.955.0724

Christopher BrownT: 416.673.4008E: [email protected]*Sales Representative

Submission DateJanuary 17th, 2013

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