Nick Yulico: Okay. So I guess I am just — I want to make sure I am understanding this. So then in the fourth quarter, you had this $36 million of acquisition merger transition related costs that ran through expenses that you add back then. Is that fee that net — looks like it’s like a net $10 million fee that you guys paid to LaVie, is that then just — you guys just totally added that back and it’s not coming out of AFFO or FAD?
Bob Stephenson: That’s correct.
Nick Yulico: Okay. I guess I am just wondering why that’s, like, how that makes sense. If you book the rent, the $25 million of rent, but effectively you paid $10 million to LaVie, why wouldn’t it be a net $15 million of rent cash from LaVie?
Bob Stephenson: I am not following exactly what you are saying, Nick. But we take $10 million in cash, that piece is what you see in the FAD add-back as. I am sorry.
Nick Yulico: I was just wondering like if you — I mean if you guys are paying LaVie $10 million of cash as a fee, but then you are booking $25 million of revenue from them — cash revenue, I mean, isn’t that shouldn’t really be $15 million, because you paid them $10 million?
Bob Stephenson: But there was no tax revenue on that piece.
Nick Yulico: There’s no cash revenue. Sorry, I thought you guys booked $25 million of cash revenue in the fourth quarter?
Bob Stephenson: No. Not on that — not that component of it.
Nick Yulico: Okay. I get so.
Bob Stephenson: Yeah. I will call you and walk you through it. So you are confusing the rental payment and the transition pick on those $225 .
Nick Yulico: Okay. Because the rent, the $24.8 million of received for rent in the quarter, that was — I thought that was a cash rent number.
Bob Stephenson: That is correct. That’s what we were paid.
Nick Yulico: Okay. All right. Thank you.
Operator: The next question is a follow-up from Tayo Okusanya with Credit Suisse. Please go ahead.
Tayo Okusanya: Hi. Thank you for taking my follow-up. Maplewood, the expansion of the loan commitment there to $320 million, could you talk a little bit about what the reason for that was?
Dan Booth: Tayo, can you repeat that? I did not hear.
Tayo Okusanya: Yeah. Maplewood, so the expansion of the loan commitments to Maplewood, I think, the commitment was expanded to about $320 million, which is an increase of about $70 million versus where it was before. Could you just talk a little bit about that kind of additional commitment you have made to them and what that’s about?
Dan Booth: So $13 million of it, as I indicated, was the increase in the line itself and the other delta of $53-odd million is the pick.
Tayo Okusanya: Okay. So the $53 million is the pick. Okay. Understood. Thank you.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Taylor Pickett for any closing remarks.
Taylor Pickett: Thank you. Thanks everyone for joining our call today. As always feel free to reach out to Matthew and Bob with follow-up questions. Have a great day.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
