Our Core Real Estate Income strategy invests with multiple real estate teams that focus on core and core-plus properties that are stabilized and highly occupied. Our open-ended strategy attempts to provide a stable return profile with approximately half of the return coming from income. We invest both with large, long-tenured real estate teams and with smaller, more niche-oriented teams that target specific alternative core real estate assets like medical office and senior housing. We target real estate teams that in our judgment have strong sourcing networks, experienced deal structuring teams, and senior professionals with decades of relevant experience in the real estate space. We also look to allocate to teams that are investing in sectors that have favorable macro and micro economic tailwinds, and we attempt to minimize exposures to sectors that have significant market headwinds. The goal of this real estate strategy is to first generate tax-efficient income and then grow capital via underlying property appreciation over time.