I'm just curious, what does that mean practically? And then we can talk about some of these drivers of uncertainty and kind of, you know, what's the outlook? Is this a real problem? You know, are we in a real storm or is this a storm before quiet or this is a storm before a bigger storm?

Yeah.

So I think for the investor side, I'd say going small comes through in a couple different ways.

I think investors right now that I speak to that are still really actively looking at deals and looking at investments, they'd really prefer individual investments over funds where it might still be open-ended.

Maybe some of the assets in a fund are identified from the start.

But then you don't know what really everything you're going to be investing in through the course of that fund.

I remember having raised for prior funds before when it was always known that all the assets that were going to make up that fund and the fund kind of had a closing period.

But is this really the right type of investment? Is this better to invest in a data center or is this better to invest in like a medical office portfolio or an industrial property? What do you think?