Ms Marie Hunt:

It is radically different in that it is not debt-funded. It is primarily equity and it is coming from lots of different jurisdictions. Invariably it is coming from types of investors who have not historically invested in real estate. What is particularly attractive about real estate at the moment is the unique interest rate environment we are in. Ten-year bond rates have sub-1% rates and real estate is throwing off 5% or 6%. Comparatively, real estate looks attractive. There is then the ability to leverage on it. Real estate right across Europe is booming at the moment. We are at a unique juncture because of the low interest rate environment.