Institutions do invest in real estate private equity deals, but they write big checks and want a preferred position over common equity. They're not going to come to your deal through a marketing piece, you'll need to build the relationship over time.
Understood. I figured this much. We have structured an offering that is a bit more unique in that we are paying a straight dividend. No targeted IRR. We think this would be more attractive and simplistic for investors to understand. What are your thoughts?