Thanks for the detailed article about the ATC / Unison agreement. However, I found your statement, "ATC paid $277,000 per site for the lease interests. At a 10X multiple of annual rent, the average monthly rent would have been $2,300," to be somewhat confusing. The $2,300 per month is what could be expected in a high demand urban environment and I'm sure that all of the Unison sites didn't meet that criteria. You said that was also based upon a 10x cash price. I can assure you that Unison or any of the other buyout firms are not coming close to those multiples. It's probably more towards 8X and the average monthly rent would be closer to $1,500. So the average buyout price for a ground lease would be more in line with $145,000 - or that's what Unison might have paid. The $277,000 per site shows approximately a 90% premium paid by ATC. Am I wrong? If there isn't an underlying agreement that the companies are not publicizing, it would make sense in the future if you were a landowner to go directly to ATC if you're thinking of cashing in.