The Next Phase of the Business

In the space of two years, we went from 25 or maybe $30 million of assets under management at cost. So like 30 times that or 20 times that. We were buying from distressed sellers, typically lenders who were foreclosing. The largest project that was spawned out of that period was a project called Presidential City. And we bought it in the end of 2012 and put around $200 million into it. Then we got a construction loan after the fact and redeveloped this thousand unit property.