Blair and Co. worked with the ICM Asset Management team to develop the full report structure, covering the fund platform overview, the message from the ICM team, the property portfolio with individual building profiles across all eight properties in five states, the management discussion and analysis, the financial data review, and the complete audited financial statements with notes. The property portfolio section was developed to give unitholders a clear and tangible picture of the assets their capital was deployed into, with each property profiled by type, location, year built, square footage, occupancy rate, and key tenants. Charts covering the portfolio by state, by asset category, by tenant industry, and by lease expiry schedule gave investors a structured view of diversification, concentration risk, and the leasing pipeline. The management letter from Managing Director John Courtliff addressed the ICM firm’s evolution, its registration achievements, its geographic expansion into Mexico, the launch of its private equity strategy, and the specific performance of the ICM VII Trust including renovation completions, above-underwrite lease rates, and the planned disposition of two Florida properties. The audited financial statements were produced and formatted to the standard required for a registered investment fund under IFRS, with independent audit sign-off from a Calgary-based chartered professional accounting firm.
