Flexibility: In a fund, assets are acquired over time, which allows investors to "asset cost average". Similar to the "dollar cost averaging" strategy equity investors take to acquire shares over time. This allows the fund to potentially acquire assets throughout different economic cycles in order to capitalize on different market conditions. In addition, because QC Fund II is structured as a 10 year fund, assets have a longer time horizon that allows for multiple exit strategies for the highest price. If capitalization rates haven't compressed from monetary easing, a refinance could be a strategic move that allows a partial or total liquidity event of investors' original investment while protecting the funds target returns on exit.