Mark Peterson: When you look at run rate for us, it’s a bit difficult because if you pick say, fourth quarter quote run rate, we’ve got built-to-suit going in service throughout the period. We have of course, the Regal percentage rent and operating profit that really doesn’t kick in until next year. So run rate picking a quarter or even a kind of run rate for the year. I think 471 sort of base run rates probably a little bit high, but we have that embedded growth that I talked about in terms of Regal, in terms of built-to-suit coming online and so forth. But what I think you should focus on if you remove the deferrals, which is important to Josh’s previous comment, if you remove the deferrals, we think we can grow that base amount, that 467 that we showed in that slide by about 4% next year. And then another, roughly 4%. We’ll crystallize that number when we give guidance in February for the year, but that’s how we look at it.
Eric Wolfe: Got it, makes sense. And then your cash balance grew by I think, $73 million quarter-over-quarter. Just trying to understand sort of what drove that because it seemed like, you actually had some net investment activity in the quarter. And as you mentioned, your pre cash flow is about a little over $100 million a year. So let’s call it $25 million per quarter. So just wondering why it grew so much during the quarter.
Mark Peterson: Yes, we did collect the 19.3 million of deferrals that were shown on that schedule. So that’s a huge number. Also, the timing of bond payments matters and they’re heavier in Q2 and Q4. So there’s some reversal of that coming in Q4, just the timing of the way our bond payments work. But yes, it was a heavy high cash flow quarter given the low bond payments, the extra deferrals, and then just the growth in our operating business.
Eric Wolfe: Got it, that’s helpful. Thank you.
Operator: One moment for our next question. And our next question will come from Rob Stevenson from Janney Montgomery Scott. Your line is open.
Robert Stevenson: Good morning, guys. Greg, obviously you have expansion commitments made to partners that you’re still working on. But beyond that, are any new investments really penciling today given where the bid-ask spread is and your cost of capital in this interest rate world?
Gregory Silvers: I would say, Rob, the answer is yes. I think things are taking time because of that bid-ask spread and getting people comfortable with that. But again, as Mark pointed out, given that we’re spending cash as opposed to issuing new equity, we think on a risk-reward standpoint, things are, and as he implied in our future growth, we’ll continue to do that. It has taken more and longer to achieve that kind of price awareness that the market has moved substantially for everyone. But I think Greg, and I’ll ask Greg to comment, we’re still seeing things that, again, we like the assets, we like the performance of these assets, but making them pencil to where we think is where value is has taken a little longer, but we’re seeing some movement in that area.
Gregory Zimmerman: Yes, Greg, I think that’s absolutely right. And the other thing, Rob, I would add is that we’re seeing these opportunities in most of our verticals. We’re seeing the meat and play attractions, experiential lodging. So we still have what we feel is a pretty good pipeline. But I echo what Greg’s comments are, it’s just taking a little longer given the current environment.
Robert Stevenson: Okay. And then, Mark, how should we be thinking about how the NOI from the $200-and-some million of expansion commitments sort of comes in over the next couple of years, right? I mean, just round numbers, if I think about it as, call it, $300 million at a 7% cap. I mean how does that sort of proratably sort of hit in 2024, 2025, 2026, what’s the sort of end sort of period is when all of that stuff is income producing at full sort of speed?
