Merger Details:

Effective May 4, 2018, Choice Properties Real Estate Investment Trust (Choice) acquired Canadian Real Estate Investment Trust (CREIT). CREIT holders could elect to receive either units of Choice or cash. 1) Holders who elected to receive Choice units, received 4.2835 units of Choice for each unit of CREIT held. This was a tax-deferred rollover. Holders who received only Choice units may use ACB Tracking to calculate an accurate adjusted cost base upon their ultimate disposition. Perform your calculation under Choice and follow the prompts. 2) CREIT holders who elected to receive cash, received $53.75 per CREIT unit for 51% of their units, and 4.2835 Choice units in exchange for 49% of CREIT units previously held. The exchange of 51% of the position held for cash was a taxable event. The unit exchange portion was a tax-deferred event. Calculating the gain or loss upon the ultimate disposition of the Choice units received upon this exchange, requires two steps. Firstly, calculate the adjusted cost base of the CREIT units previously held to May 4, 2018 (input a zero sale on that date) using the data base in ACB Tracking for CREIT. Secondly, using Choice, enter the resulting total dollar adjusted cost base for CREIT multiplied by 49% as the purchase price of the Choice units received.