“So you will see that come back on and then some in the fourth quarter, it's just simply timing.”

In context

“ily's pretty smart. They said, Simon Property Group stock’s undervalued, and I like the dividend, and why not? So I think, I don't know what will happen next year. It could be the same thing, but at this point they have 16% left in TRG. We're happy to own 100% of TRG. I think they're happy, to do what they're doing and we'll deal with it as time goes on. But nothing can happen the rest of this year and it's sometime next year that this all recycles. So with that said, I hope that answers that, but I'll --Brian, if you want to add anything to that, please. Brian McDade: Nothing on that, but, Floris, on your question about their occupancy, it is back 110 basis points. There were really two major spaces that they had to take out of commission that they come back online in the fourth quarter. So you will see that come back on and then some in the fourth quarter, it's just simply timing. Floris van Dijkum: Got it. And if I may -- if you don't mind, the -- if I recall correctly after you look at my notes but the cap rate at the time that you did the deal was, it had a six handle on it. Is that the right way to think about the appraised value for TRG? David Simon: Well, again, this was a negotiated deal. Their view of appraised value started much higher than that with all due respect for us, which you might imagine. But we settled on a deal that today, if you go back in time to -- Taubman pre-COVID would have attributed Taubman's per share number in the $51 range. So somewhere in that range, we ended up, if you remember, doing COVID at $43 a share. I will tell you that their NOI today is higher than it was in ‘19. Portfolios change here and there, so it's really hard to do”