Its interesting that during the last cycle CLI was the most under-rated and undervalued because of its portfolio concentration and unwillingness to be acquisitive. Well they would have been in a mess if they had done the deal that Brandywine ultimately did and they kept their leverage down.

CLI is best of breed and HRP is a unique second best of breed because it too kept its leverage down and did not get caught up in the overhyped and overbought office markets that have done in most of the other major office reits.