PPAF is investing $2,540,000 as lead JV Partner in a targeted pursuit capital fund that will entitle land for sale to development projects with our partners.  We expect to receive outsized returns with a minimum 50% uplift regardless of duration that is backstopped by the parent company of our JV. This venture will be spread across multiple entitlement projects including residential, industrial and self-storage land uses. The total venture JV equity is $3,000,000 and PPAF is an 80% lead member.  The beginning duration is 3.0 years.