As part of that lease-up effort, we intend to invest approximately $3 million in improvements, including to adapt the property to multi-tenant usage and upgraded amenities, such as a fitness center, conference center, and cafeteria. While undeniably expensive, These building upgrades will materially improve the long-term competitiveness of this Class A asset in a strong real estate location and are the reason we have kept leverage low so we can fund exactly these types of expenditures at the right time.

Aug 9, 2024 / CEO / receipt, needs a key / Paul McDowell, CEO | earnings call 2024-08-09 | transcript a04070b1-bf43-4d3a-8f0f-777cb20c90ec | chars 4085-4593 | segment 4