The Madrid is a 201-unit property, built in 1984, located in North Arlington, Texas. We closed on this purchase in June of 2022, and we have begun our value-add improvement program. This community features apartment homes and amenities that compete against newer vintage properties in the area. This area of Fort Worth has attractive single family homes, proximity to jobs downtown, affordable rent levels, and represents a low-cost housing option. We have begun a number of operational changes to improve the resident experience, which have been successful at our 13 surrounding Dallas – Fort Worth communities.