|MI Developments Inc. (MID) is a Canadian-based real estate company engaged primarily in the acquisition, development, construction, leasing, management and ownership of a industrial rental portfolio of properties in North America and Europe leased primarily to the automotive operating subsidiaries of Magna International Inc. (Magna). During the year ended December 31, 2011, Magna and its operating subsidiaries contributed approximately 97% of the rental revenues of its business. The Company's income-producing properties consist of heavy industrial manufacturing facilities, light industrial properties, corporate offices, product development and engineering centers and test facilities. Until June 30, 2011, MID also owned a racing and gaming operation. Upon the completion of the Arrangement, following the close of business on June 30, 2011, the Racing and Gaming Business and all of its lands held for development were transferred to the Stronach Shareholder.