Ki Bin Kim: And for that 30%, are there are leasing restrictions from the anchors in those portions of the retail center that you don’t know.
Conor Fennerty: And that’s exactly my point. The important things we look through. So there were parcels and pads and effectively properties we really liked. But if they had those issues or restrictions over reliant on the adjacent retail, they’re not part of curve. I mean the whole thesis of curve is that, what drives the visibility or excuse me what drives the traffic and the sales to that site is that site plan and visibility and access. And so if there’s anything that effectively impaired the value or quality of that site, it was not included in curb. So as a result, there’s some great real estate that we wanted or has pieces that are consistent with the current thesis. But if I didn’t check every box, we kept it we didn’t carve it out.
Ki Bin Kim: And on G&A, you mentioned $12 million per quarter, but after the spin-off, do you have a sense of what that G&A could look like?
Conor Fennerty: Yeah. So I would put that given in a bucket of some of the board comments managing questions a piece that, as we transition from a sum-of-the-parts story to an earnings story over the course of the summer. That’s likely a piece that we provide for curve. It’s fair to assume I think consistent with our comments in prior quarters though, we believe based off I would tell you exempt extensive analysis over the last couple of quarters and months that we can operate curve as efficiently if not more efficiently than site. It’s a huge focus of ours. Obviously, if you think about all of our comments around CapEx, free cash flow efficiency, making sure we’ve got the right-sized G&A load for curve is really important to us. And so we’ll provide more ingredients on that over the course of the year. But again, I would just point you to our prior comments that we think we can operate curve as efficiently if not more efficiently than site today.
Ki Bin Kim: Okay. Thank you.
Conor Fennerty: You are welcome.
Operator: Thank you. And then next question comes from Michael Gorman of BTIG.
Michael Gorman: Yes, thanks. Good morning. David, I just wanted to go back to your comment about some of the dispositions and holding some of the space offline to maximize value. Can you just provide a little bit more color there? Is that a function of potential alternate use at these sites? Or is it a function of kind of TI and CapEx packages in this market, not being fully kind of recouped in the sale process if you did go ahead with re-leasing the space?
David Lukes: Sure Michael, happy to. It’s pretty common in the length of time. It takes to sell a large property on there. You end up in a conversation with the buyers to what they desire and what they’re willing to pay for. And in some markets, particularly when you have levered buyers out, there looking for stability and a very high occupancy. In other markets like we have today, there are some buyers that would prefer to choose their own adventure on the last space that’s available. And we do have a number of properties that have a recent vacancy such as a Bed Bath space and there’s choices to make, because there’s competing on tenants that want that space. I wouldn’t say it’s alternative use. I’d say all those all those competitive forces are still in retail, but a buyer may want to go with less credit and more TI and a higher rent or they might want to go with more credit less TI and a lower rent.
But the proceeds that we can achieve from selling one of those assets is sometimes dependent on which adventure that that buyers selecting. And therefore we sometimes will show them current activity with tenants, but we won’t execute those leases. We will simply hand over the contract and let them select which path they want to go down. That’s been a way that we’ve been able to drive I think pretty good cap rates and pretty high value by allowing some flexibility to the buyers.
Michael Gorman: Okay, great. Thank you very much.
David Lukes: Thanks Mike.
Operator: Thank you. And this does conclude the question-and-answer session. I would like to return the floor to management for any closing comments.
David Lukes: Thank you for joining our call and we look forward to speaking with you next quarter.
Operator: Thank you. Thank you for attending today’s presentation. You may now disconnect your phone lines.
