Nicholas Thillman : That’s helpful. Then maybe for Bobby on just the maturities for 2025. Last year you were pretty proactive of getting that bond offering done earlier in the year, even though it was like pricing wasn’t as favorable as it is today. Do you expect to be a little bit more patient on that upcoming maturity and seeing, like testing the disposition market before deciding to do another deal? What are kind of your thoughts around that?
Bobby Bowers: Your answer is, yes, be patient. We have $275 million bank term debt maturing in 2025 and none in 2026. And although it’s not modeled in, as Brent alluded to, we hope to achieve around $100 million dispositions in 2024 that we hope that we can pay down or reduce our debt with. That would maintain our ratio between 30% and 40% leveraged. That said, the pay down and refi strategy is going to become more clear I think in the middle of the year. We do have available capacity with our key bank partnerships and we’ve demonstrated our ability to access the public debt markets to refinance debt, which is a very strong long-term preference for us.
Nicholas Thillman : That’s helpful. And then the last one, on commenced occupancy or lease percentage, we’re kind of assuming the bottom is going to be 2Q even, if we’re just looking at the projection for 2024?
Brent Smith : I would say it’s probably more likely 2Q to 3Q would be the trough. It’s tough to pinpoint that. They just give move-outs and commencements. And as we continue to see construction taking a little bit longer than we have historically seen, I don’t know exactly if that’s just lack of availability of materials, increased demand on other asset classes, etcetera, but just taking a little bit longer than historically to build out some of the space. But overall I would say, yeah, your trend is correct, sometime in the middle to second half of this year.
Nicholas Thillman : Thanks, guys.
Operator: Thank you. That concludes our Q&A session. I will now hand the conference back to CEO, Brent Smith for closing remarks. Please go ahead.
Brent Smith : I appreciate everybody taking the time to join us here today. I do want to reiterate one statistic that was misreported in the analyst report. It had our same-store NOI growth at negative 2.2 for fiscal year ‘23. I just want to reiterate the company achieved positive 2.2 same-store cash NOI growth for fiscal year ‘23. Overall, we’re very excited and pleased with 2023’s performance and what lays ahead for 2024. We’d love to have a chance to talk to investors further fixed income or equity at the Citi Conference that will be held on March 4th to 6th in South Florida. Please reach out to Bobby or Jennifer if you’d like to sit down with management. And again, thanks everyone for joining today. Have a good day.
Operator: Thank you, everyone. This concludes today’s event. You may disconnect at this time and have a wonderful day. Thank you for your participation.
