Ann: Change in substantial holding, page-11

Hi CB - Hope all’s well and you’ve got yourself a few beers lined up for the Lunar New Year celebrations.

Not to be argumentative, but you write "Its always good to execute on 3rd party capital to prove ones investment thesis. If one cant, then it tells us something about the asset quality"

I think it must be stressed/argued - Or about the ability of the leader to engage a JV partner.

Hand on heart - at this stage - would you say it’s an asset problem, or management can’t get the deal done? Keep in mind recent raising performances (Lind follow on etc etc)

Happy New Year (Lunar) to all those celebrating.
T