The rescue capital can create win-win-win for everyone involved in the deal, right? What does that win look like for each party, the borrower, the existing lender, the rescue capital provider, and where do their interests typically diverge during negotiations?

Well, as I mentioned, you know, everyone wins when each stakeholder group does better when they do a transaction than had they transacted at the distress.

So for the borrower, instead of having all of their equity wiped out, you know, via a foreclosure, you know, they could stay in the deal and presumably they continue to earn fees as the manager of the property.

They preserve at least some of the equity, perhaps, maybe not all of it, but at least some of it.

And they may salvage a new promote into the future if they execute on the business plan successfully.

And importantly, foreclosure has negative tax ramifications for borrowers, so they may defer a bad tax consequence.

From the lender's perspective, as I mentioned, they can right-size a loan, they can get a partial repayment.

How do you price the risk, Ingrid? What kind of return, control rights, preferred position, or data protection does an investor typically need before stepping into a distressed capital stack?