John Moragne: There’s a host of things related to that particular asset both the market itself and as well as sort of structural problems that you would see if you’re looking at that type of hospital throughout the country. We’re lucky to have a member of our Board of Directors serve as one of the regional CEOs for one of the largest hospital systems in the country. And speaking with her about the difficulties that sort of regional community hospitals like Green Valley are experiencing throughout the country and the number of ones that have shutdown even in the last 12 months has been very helpful for us understanding the sort of risk profile of this asset and sort of helping confirm our view of where we need to take it.
Mitch Germain: Thanks so much. Thanks guys. I appreciate it.
Operator: Our next question is from Eric Borden with BMO Capital Markets. Your line is now open.
Eric Borden: Hey guys. Good morning out there, maybe just starting with Green Valley. What was — just given the fact that they didn’t pay rent in October, what is the expected drag on AFFO in 4Q? And then, maybe could you just talk about some of the different options that you’re currently evaluating as it relates to the asset?
John Moragne: Sure. Thanks for joining, Eric. No impact on AFFO. They — we had already built into our guide that they weren’t going to be paying rent. And they are covering all the carrying costs as well as maintaining the property so there’s no leakage for us with respect to the asset right now so there’s no impact on AFFO. And from a sort of opportunity standpoint, they still are working hard to try to get up and running. And so there’s a good chance that that’s what happens, but in our focus on trying to minimize the distraction caused by the asset we have worked to engage local brokers to help us evaluate possible re-tenanting options as well as to sell the asset. So we’re looking at all possible options here.
Eric Borden: Okay that’s very helpful. And then one on Carvana, I know we’ve talked in the past and you mentioned in your prepared remarks, how it’s crucial to their operations. They recently received a rerating. And the stock is up 500% year-to-date, but on the other hand car loan defaults are on the rise. Just given the weakening consumer, how are you thinking about your exposure to the auto industry at this time?
John Moragne: Yeah. I mean, it’s great to see Carvana have the improvement that they’ve had this year. It makes us feel better about it, but we keep coming back to that is a real estate play at heart. It’s 140 acres of graded industrial land and a great industrial submarket outside of Indianapolis that has a lot of potential uses to it. So the residual value there was key to how we thought about making that investment. And it’s key to how we think about if there ever were to be something that happens with Carvana where either they go through a restructuring and they go through a liquidation, we feel comfortable that we’ll be in a pretty solid position to maintain the value.
Eric Borden: Okay. That’s helpful. And then one last one, maybe just on the acquisitions under control. What’s the breakout there the $76.1 million, is there any developments in that pool? And what is the expected pricing on those assets?
Ryan Albano: Sure. The breakdown there is primarily leaning towards industrial, I’d say there and upward. If you look further up the pipeline not under control there are certainly development opportunities that we’re looking at, but it’s a predominantly industrial weighted with a little bit of retail mix in there as well. And then in terms of economics we’re looking at things certainly north of 7%.
