The company has fi ve reportable segments: (a) property operations, which are principally commercial offi ce properties, residential development and home building operations, located primarily in major North American and Brazilian cities; (b) power generation operations, which are predominantly hydroelectric power generating facilities on river systems in North America and Brazil; (c) timberlands which are predominantly high quality private timberlands in North America and in Brazil; (d) infrastructure operations, which are predominantly electrical transmission and distribution systems located in northern Ontario and Chile; and (e) specialty funds, which include the company’s bridge lending, real estate fi nance and restructuring funds along with the company’s public securities operations and are managed for the company and for institutional partners.