We are beginning to see some repricing of multifamily assets in the Texas markets that we follow. Over the past two weeks we’ve seen two assets selling for the loan balance which means the seller is really taking a hit to equity. The two assets were both on short-term bridge loans and just ran out of time. Maybe you would not consider these classically “distressed” deals but the sellers had other problems in their portfolio and had to move on the properties. In the Texas markets, we are seeing over $15 billion or 800 properties (of 50+ units) with loan maturities prior to the end of 2024. Of these 800, 36% were originated in the 2020/2021 time period during a period of rapid price appreciation. We expect to see more stories of Sellers leaving equity on the table to exit assets. We think that focusing on deals with near-term maturities, especially if originated at peak pricing, will be the place to find relative bargains.