Financed by securing debt on a different asset in our portfolio where we could get the best terms given the rising rate environment.

This isn't inclusive but should give you a good start.

Most of these guys have never seen a high interest rate environment.  

In todays environment with higher interest rates there are less buyers in the market than a few years ago so waiting several years until rates drop to a more palatable range could lead to much higher returns.

This is all indicative of a low interest rate environment. 

The business environment remains healthy. 

1031 exchange sounds good in theory, but you need to do it in an area and at a time where there is inventory to choose from because once you identify the three properties, you have to close on one of them which is very difficult in a competitive environment.

It also sets a positive tone and builds trust with new tenants, showing them that their living environment is taken seriously and maintained with care.

It helps me think through the macro environment and set realistic goals.  

From there likely a short spike due to the market being more reserved as the policy starts to take hold and lenders opting to raise rates a bit to be on the safe side while the policy settles itself in the new economic environment.