I just got off a national real investment call where several interesting properties were being pitched. We also analyzed our 30 most recent sales. Initial rates of return varied by property and region but I did notice three interesting trends: 1) Properties in secondary markets with some credit tenants are returning 7.5% the first year. 2) Properties in stronger markets with less availabilities are averaging about 6.5%. 3) Foreign capital is definitely becoming an important buyer in the west coast markets and specifically for multi-family assets.