As anticipated in 1Q16, the property manager has begun marketing this property for sale and has hired an investment manager to broker the sale. The property manager remains optimistic that the property's strong rent roll, low property taxes and attractive location will generate solid interest. Tours of the property are expected to begin at the end of July 2016. Please see the Offering Memorandum prepared by the broker for detailed information on the property's offering.
We are receiving higher distributions that are approximately 8% on an annualized basis due to the additional rent being received. We will consolidate this income along with amounts received from other investments and distribute those to investors.
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