Fifty Mission Capital continues to pursue properties in Texas, especially in Dallas, Austin and San Antonio. There is significant economic, job and population growth across these regions. There are big industries moving into these areas including technology, health care, finance and insurance.
Fifty Mission Capital closed on two properties in Midtown Phoenix in the last half of 2019. We continue to pursue properties in the metropolitan Phoenix area due to many factions including economic, job and population growth. There is over $1 billion of investment in the midtown Phoenix area and there are over 250 people moving to Arizona on a daily basis. We have seen increase in rent growth and demand for multifamily housing.