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## 10. INVESTMENT PROPERTIES 

The following table presents the change in the fair value of investment properties, all of which are considered level 3 within the fair value hierarchy: 

<img src='content_image/255216.jpg'>

Investment properties include the company’s commercial, retail, multifamily and industrial properties as well as higher-and- better use land within the company’s sustainable resource operations. 

Significant unobservable inputs (level 3) are utilized when determining the fair value of investment properties. The significant level 3 inputs include: 

<img src='content_image/255217.jpg'>

Key valuation metrics of the company’s investment properties are presented in the following table on a weighted-average basis: 

<img src='content_image/255218.jpg'>

## 11. PROPERTY, PLANT AND EQUIPMENT 

<img src='content_image/255219.jpg'>

Accumulated fair value changes include revaluations of property, plant and equipment using the revaluation method, which are recorded in revaluation surplus, as well as unrealized impairment losses recorded in net income. 

