Brad Heffern

“You talked about the cap rate around 8% for the pipeline. That's about 40 basis points or so higher than the recently closed deals. I'm just thinking to match where the 10-year and bond yields have gone, that probably needs to be something like 100 to get to the same economics you had and sort of pre-rise in rates.”

“For the 2027 MH rate growth number, the 5.1%, it's the same number that you gave in 3Q last year, of course. But CPI is higher. The COLA adjustment is higher.”

“Just following up on AMC, you know, the yields on the debt have improved a lot. As you said, it was upgraded by S&P. Do you see feeders trade at all right now, and might there be an opportunity to reduce exposure there just given, you know, it seems like the credit profile's improved?”

“Obviously, rates have been bouncing around a lot, but generally going up. But we've also been hearing some of your peers talk about some slight cap rate compression.”

“You added the roughly $75 million to the disposition plan with the Minneapolis properties. I guess, first, can you just sort of talk through that decision? And then can you also talk about the use of those proceeds?”