As shown in the table, for each $12,500 originally invested, you have now received $13,949.52.

We are pleased to share an update on key developments since our last communication regarding City Gate property in Chilliwack, BC. The Fund continues to hold this property, and our executive team remains focused on leasing the vacant units to maximize occupancy and generate rental income. Achieving these objectives will enhance the property's value and optimize returns for our investors.

Following the merger of Royal Bank of Canada (RBC) and HSBC, RBC made the decision to close its branch at City Gate. While the early termination of a major tenant is not ideal, we recognized an opportunity to enhance the long-term value and flexibility of the space. Our executive team successfully negotiated a lease buyout agreement with RBC. These funds will be reinvested into demising the existing unit into smaller retail spaces, which aligns better with current market demand. We are encouraged by strong interest from multiple prospective tenants and are optimistic about securing high-quality replacements in the near future.

As previously disclosed, the federal Competition Bureau is reviewing property controls within Canada's grocery sector, particularly the use of restrictive covenants that limit competition. These potential regulatory changes aim to increase market access and reduce food prices across the country. We are actively monitoring this situation, given its potential to positively impact City Gate by expanding our pool of viable retail tenants. We will continue to keep unitholders informed as further information becomes available.

We thank you for your continued patience and support as we navigate these challenges and work towards delivering strong results.

For your reference, you may find all our public documents at www.sedar.com. You may also refer to our website at www.sunstoneadvisors.com. Should you have any questions, please do not hesitate to contact our office or your financial advisor.

For the Q2-2025 Quarterly Update letter please click here.