Presidio is an internally managed, diversified REIT. the company has interests in approximately 120 model home properties in six states, with the majority located in Texas and Florida, which are leased back to homebuilders on a triple-net basis. Its commercial real estate portfolio consists of approximately 1.1 million square feet comprised of 15 properties: ten office properties, one industrial property and four retail properties. Its commercial portfolio is located in Southern California, Colorado, and North Dakota, and the company is currently considering new commercial property acquisitions in a variety of additional markets across the United States. Its commercial property tenant base is diversified, which helps limit its exposure to any single industry in which its tenants operate. This geographical clustering of its real estate portfolio enables us to minimize operating costs and leverage efficiencies by managing a number of properties utilizing minimal overhead and staff.