Cap rates with new Interest rates

[Allen Berrebbi]

How has your strategy changed regarding cap rates with much higher interest rates, if it has?

[Chris Seveney]

Quote from @Allen Berrebbi:

How has your strategy changed regarding cap rates with much higher interest rates, if it has?

 It has changed as higher interest rates now have negative impact. When you could borrower at 4% and buy at a 6% cap thats great, when you now buy at a 6% cap but leverage is 8% thats bad

So right now we are patiently waiting as there is a lot of debt coming due and current owners are either going to need to sell or need rescue funding. We are set up to assist in either. Patience is the key.