How the Critical Audit Matter Was Addressed in the Audit Our audit procedures related to the assessment of the Company’s intended holding periods included the following, among others: • We held discussions with the Company’s management and evaluated the reasonableness of management’s assertions regarding the intended holding periods of its real estate properties, more specifically by performing the following: Engaged in discussions with senior management, including legal and compliance and asset management, and inspected Management Investment Committee and Board of Director meeting minutes regarding the assumption utilized in determining the intended holding periods. Evaluated audit evidence (e.g., hindsight analyses and disposition forecast) to determine whether it supported or contradicted the conclusions reached by management.
/s/ Deloitte & Touche LLP New York, New York March 21, 2025 We have served as the Company’s auditor since 2017.
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