To focus on growth markets recovering from a period of overbuilding and where new construction is minimal or non-existent. These markets provide opportunities to acquire properties at substantially less than replacement cost. Re-establishment of the supply-demand balance and economic rejuvenation, as evidenced by population and employment growth, are the stimuli for increasing occupancy levels and rental rates. This translates into investment situations which, with effective management, produce high yields and capital appreciation for our investments through continuing gains in Net Operating Income.