Big headline: Brookfield is reportedly in advanced talks to buy Yes! Communities from GIC for over $10 billion. If finalized, this would make Brookfield one of the largest—if not the largest—owners of mobile home parks in the U.S. Here’s why this matters for us: I used to work for Brookfield. Back then, I was in portfolio management for our Mobile Home Park Portfolio, so I had a front-row seat to how they think about scale, capital allocation, and risk. To now see them moving to take down Yes! is surreal—it’s a full-circle moment for me. For small and mid-size operators, the lesson is clear: Institutions aren’t slowing down. They’re chasing massive portfolios and are willing to pay premiums for scale. Our edge is agility. While Brookfield’s strategy is financial engineering on a global scale, we can still pick off the fragmented deals, add operational value, and generate returns that compete pound-for-pound. Market signal: When a firm like Brookfield puts $10B into MHPs, it’s confirmation this asset class is here to stay. The largest capital allocators in the world see the same thing we do: manufactured housing is the backbone of affordable housing. Takeaway: This isn’t a sign that “all the good deals are gone.” It’s a sign the big boys are playing in a different arena. Their game is scale. Ours is speed, creativity, and boots-on-the-ground execution.