RioCan and its 50% co-owner, Groupe Harden, sold a 100% interest in the property to a local investment and development company for $70.0 million, or $35.0 million at RioCan's interest. Based on in-place NOI, the sale price represents a capitalization rate of 2.09%. The sale price also reflects the redevelopment potential that RioCan and Harden were able to surface. This transaction was completed in the third quarter of 2021. Impact Plaza Acquired in 2006, Impact Plaza is an approximately 135,000 square foot grocery anchored open air centre located in Surrey, British Columbia. RioCan sold the property in the third quarter of 2021 to a local private developer for $73.0 million, representing a capitalization rate of 4.50% based on in-place NOI.