Marc Holliday: Well, let me — I mean, generally, we, as a team, are meeting, I would say, almost like daily or the operational and construction members of the team are meeting daily, scrubbing through property level, operational expense budgets for next year, where appropriate, looking for areas of savings trying to keep our expenses as close to like net zero increase in an otherwise inflationary environment, but making sure that we’re still delivering best-of-class service. So we’re never going to do anything to jeopardize the reputation and excellence that we are delivering through that program now but we’re hyper-focused on that. And looking at our capital programs, we benefited by investing so much in the buildings over the years that we can go a little capital light in ’24, maybe ’24 and ’25, not to the detriment of any building simply because most of the buildings have been completely repositioned to amenitize new lobbies security system, local or 11 work and group replacements out of the way.
And that’s not to say this 30 million feet there’s only something more to do. But I feel like we’ll be able to really enter the market in ’24 with a strong hand in terms of operating expense control and capital cost control. As it relates to G&A, if that was specific question or item. I’d say we are one of the leaders in our peer group, if you will, in terms of not only controlling G&A or maintaining it, but reducing it. We had G&A, I wouldn’t say at its peak of $100 million or so.
Andrew Mathias: $110.
Marc Holliday: $110 million. So and this year, it will bring in at around $90 million and I would expect next year through all sorts of smart planning, austerity measures, et cetera, to come in below that. We haven’t done — we’ll know in December but I’d say it’s safe to say below 90. So that’s a trend that I think is unusual or unequal in our industry and sector. And yet, we’re able to do more with less and the building performance and I think level of services is high it’s ever been. So I don’t know if that answers the question, but that’s what we’re working on between now and December. And maybe in December, I can elaborate further on that. But yes, operating expense conservation, capital cost, efficiency and reduction in G&A are all things we’re going to be focused on going into next year.
Camille Bonnel: That’s helpful. And final question for Matt on the balance sheet. I know you’ve managed to swap your exposure to your swap expiries to its respective debt maturities, but how are you thinking about cap maturities? For instance, 10 East 53rd Street and 220 East 42nd Street have final debt maturities in 2025 for the caps are maturing next year?
Matthew DiLiberto: Sure. Happy to answer it. And I’ll save the operator the trouble is reminding people two questions only, please. But Camil I’ll give you a free one. We do hedge when we swap as far out as the debt to which those swaps are associated goes. As it relates to caps, caps are often a requirement of the underlying financing. And specific to the two instances you referenced, we have JV partners. So we are not able to make a unilateral decision to put a cap in place without the sign-off of our partner. We agree with our partners on the terms with regard to those two, we agreed a time to a one-year cap, and those caps need to be put back as is required by the financing.
Operator: Thank you. One moment for our next question. Our next question comes from the line of Blaine Heck from Wells Fargo.
Blaine Heck: Great, thanks. Can you just talk about the lending environment and maybe touch on where interest rates stand for high-quality office buildings now, how the pool of lenders that are actively lending to office may have changed and what they’re looking for with respect to loan-to-value and debt service coverage ratios?
