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Do You Have Multiple Investors in Your Programmatic Investments to Make the Deal Work?
In the transaction that we did in 2017, which was nearly $2 billion. The equity was around $500 million. We actually did not have a single institutional investor in that transaction. However, we had some very large family offices that we have programmatic relationships with. And these, I'm talking about super high net worth Forbes 400 type family offices can write checks just as big as a lot of the institutions that can write. That again, that's worked out well for us and you would think it might take longer to get transactions closed because of that. But it's the opposite. We're able to move quicker than most that have to depend on those institutions.