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How Much Leverage Is Used in Commercial Real Estate?
I'm also curious the range of your deal sizes, is there some sort of tight range that your deals typically tend to be? Or is it really varied in terms from being a million bucks to tens of millions? Or what's that sort of look like? We generally operate in what we call the middle market. So deals between 10 million and about 50 million in total value. Most funds don't want to write checks below $20 million. But as a general matter, we just think that there's more value in that slice of the market than up in the larger deal sizes.