Working on the acquisitions side of our business is weird.
Well, we’re in a deal drought of approx. 3 months right now. That’s causing me to tear my hair out.
On the other hand, we have offers out on something like $6MM in projects which, if we get them, would almost certainly be “go” deals.
Now, at this point in our development, $6MM in projects is pretty small… we’re capable of putting out capital at a $30-50MM / year pace when the market cooperates.
But it’s always worth remembering that, as recently as 2012, we were thrilled when we attracted ~$3.5MM, total, to Adaptive Realty Fund 1.
So, while I can’t tell you how frustrating it is to sit on my hands for months at a time, I’m also thankful we’ve come so far so quickly. And I’m staying calm and trusting that more deals will come down the pike soon enough.