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

We are pleased to provide you with an update on the 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. One of the challenges we have faced with City Gate is a restrictive covenant on title in favor of Safeway, which prevents us from leasing to retailers that offer food products, among other restrictions. This has made it more difficult to fill the vacant space. However, recent government legislation aimed at preventing grocery retailer monopolies and reducing grocery costs has created new opportunities. This regulatory change allows us to lease the space to a broader range of retail tenants. We are actively engaging in discussions with several prospective tenants and reaching out to additional candidates to capitalize on this opportunity.

In reflecting on our successes in 2024, we are pleased to remind you of several significant developments. We added two new tenants to the property, NT Nail Salon and, most recently, Dentalcorp Health Services ("Dentalcorp"). Dentalcorp, a large public company, has completed the build-out of their unit and is scheduled to be fully operational by the end of January 2025. Dosa Club, a highly rated, fine-dining Indian restaurant, took over our restaurant space. They are also operational and enhance the dining options available in the downtown Chilliwack area. Lastly, we successfully negotiated a new lease with Angry Otter Liquor Store, resulting in an average increase of 128% in the store's net rent over a five-year period.

As we head into 2025, our primary focus remains securing a tenant for the final vacant unit at the property. While leasing remains a top priority, it is important to emphasize that Sunstone's overarching objective is to sell City Gate at the best possible value for our investors. 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 Q4-2024 Quarterly Update letter please click here.