In addition to their traditional model of buying legacy-owned properties, they are now acquiring properties with broken balance sheets. Pricing on multi-family is down significantly as rates have more than doubled for multi-family operators. Many operators are forced to sell as they cannot absorb the rate hit. Our sponsor has NO floating debt, which insulates them from the dramatic interest rate shift. And now they are perfectly positioned with cash and government-backed debt options to capitalize on the current market conditions.