Now is a great time to be invested in multifamily real estate.  US Market rent growth has been very strong and is at a pace of 3x the historical average.  Market rent growth is a very positive indicator for higher cash on cash returns and higher valuations over the next 12 months.

We continue to remain disciplined as a company to maximize upside when available, continue to improve the resident experience, and target investment opportunities in locations which will see strong rent growth in the future.