Related party transactions must be arms length with valuation, disclosure and unit holder approval safeguards. Related party transactions must be conducted on an arms-length basis, align with unit holders' interests and REIT strategy, be disclosed to the stock exchange and unit holders, and follow prescribed valuation, documentation and approval procedures, including two independent valuations for post-offer property purchases or sales, unit holder approval when material thresholds are exceeded, fairness opinions for significant leases to related parties, and disclosure of related party identity, transaction terms, valuations, fees and competing business interests.