We acquired Banister Place (“BP”) Apartments (Class C apartment community located in Austin’s South Central submarket) partly because of the Property’s location situate squarely in Austin’s dynamic growth path. BP’s acquisition was consistent with our strategy of investing in strategic submarkets poised for growth. BP enjoys unique visibility and frontage on Ben White Boulevard, which is one of the City’s main east-west thoroughfares. At the time of acquisition, there were 26 Class C apartment projects within 1.5 miles of Banister Place Apartments with an average occupancy of 96.8% and an average monthly rent of $818, indicating a potential 14.5% increase in rents for the Property. We executed on our renovation and repositioning program in support of both the BP’s location and our forecast appreciation potential for the “funky” South Austin neighborhood famously known by its zip code, 78704. We felt that BP would be the beneficiary of strong demand from tenants desiring to work and live in this highly desirable area of Austin. We also saw the site as a prime redevelopment opportunity, which afforded us exit optionality. Another unique aspect of BP is its unit configuration that in addition to 20 apartment units, also included 12 commercial units, which we believed would be in strong demand given BP’s proximity to downtown and burgeoning South Austin. After executing a refinancing in Q116 that repatriated 24% of investor capital, and increasing overall rents by nearly 20% since inception, the Company realized upon its investment during Q217.