HT
#We are always looking at opportunities really all across the country.
And we do spend a lot of time on some of the other higher-growth MSAs in the country, like we've looked at a lot of opportunities in Seattle, for example, or a handful of other markets around the country.
But to date, we're finding enough runway in our core six markets.
And in those core six markets, we have significant portfolios already, which give us unique market insight, give us truly more operating leverage to bring to bear on these assets, and so real advantage on the buy side as well as on the execution site.
And so we have tended to focus on these markets where we can underwrite more clearly, and we have real conviction about various submarkets in these markets.
Now, you don't want to ---+ it's hard to fight a declining market, and so you've seen us put most of our investment dollars across the last few years in markets that we expect to have above-average market growth in the coming years ---+ California, Washington and Boston ---+ while we have been less acquisitive in Miami or New York.
But that said, we want to be careful not to be chasing lagging indicators.
And there are opportunities to create value in even challenging markets.
Assets often get mispriced when investor sentiment is the lowest.
And so you do have to take your steps before the turn, like we did in Washington, DC.
And so we're focused on our six markets.
We're open-minded to other MSAs.
But to date, we've found enough strong opportunities for the amount that we're acquiring, which is really ---+ it sounds like a lot, but there are a handful of assets in markets we know very, very well.
And we're comfortable with that approach for now.
Thank you.
No more closing remarks.
But we well ---+ <UNK>, Ash and I will all be here in the office the rest of the day and look forward to any further follow-ups.
Thank you all for your time.
