Its committed that ultimately reverts to invested equity and on the back end, we have a 20% performance fee. You dont hold properties for legacy or long-term cash flow. If that would have turned out great and I wouldnt have founded it and maybe I would still be a passive investor today, but I just looked at it and said, I can do better than this. And my partner and I came to the same conclusion and said, Lets do this. [overlap talk]. a private equity real estate firm serving nearly 3,000 high-net-worth individuals. Tune in next week for our next show. Preqin , an industry leader that tracks performance of private equity fund managers, ranked these two funds in the top quartile as of June 2016. Tijana received a Bachelor of Arts in Data Science and Global Business from Mount Holyoke College and is a licensed sales Broker in Illinois. episcope: [noun] a projector for images of opaque objects (such as photographs). Thank you for listening to the Lifetime Cash Flow Through Real Estate Investing Podcast. I think that the smart investor is one who is humble and understands what he knows, and what he doesnt. Those of you that are doing your own syndications, do not short-circuit that process. So many, I would say 50% of them, we were able to buy back in the first three months and people were so thankful to us even to come there to provide them with an exit strategy. Naperville is the third largest city in Illinois. We just dont believe that so as weve seen this rent gap between urban and suburban just widen, one of our thesis is that we wanna be in suburban multifamily, so when this swings, and these Millennials start moving out there that we can position ourselves for that. Rod Khleif: Sure And their friends, and their relatives. Cardones average ROI has exceeded 200% on 22, Chris Voss Author of Never Split The Difference Former FBI Hostage Negotiator. Phil is responsible for sourcing, structuring, and the execution of new acquisitions across the state of Texas, as well as overseeing the strategy and implementation of Origin's proprietary markets selection database. Michael serves as Origin Investments in-house general counsel. Rod Khleif: Sure. Michael brings 25 years of investment and risk management experience to Origin. +1-941-225-8477. Photo: @Bennett Raglin Source: Getty Images Age: 52 years We bought an asset in Naperville, Illinois. I think being an investor at the firm, and a manager, and a principal, puts me and my partner, in a very unique position. Michael Episcope: We have renovated 30 units. Access Your Free Copy Of The MF Property Checklist Now And Gain The Guidelines To Securing Your, MMXXII K L Promotions, LLC All Rights Reserved. During his education at DePaul University, he served as Treasurer and President of his fraternal organization. Michael Episcope: Potentially, yeah, if it were an individual asset thats not the strategy. Everybody knows my $50 million seminar in 08, and Ive been through other cycles as well that were equally impactful, negatively impactful. We have a real powerhouse on the show today. Very interesting. If I were outside of this business, I would invest in a fund. You need to shoot with a rifle, instead of a shotgun. Justin joined Origin in October of 2022 as an Investor Relations Generalist. He put on a new roof. Michael Episcope: Yeah. Upon graduating from Marquette he then took a job at CIBC Bank in Chicago on the Corporate Real Estate team. Preston recently joined our acquisitions team as an Analyst. Michael Episcope: I think what I fell for was the deal itself. 2017 BILLIONAIRES NET WORTH as of 3/20/17: $1.3 B. Tuchman's wealth is based on his gigs as . So if things do happen, youll be able to ride the ship. Thats a great strategy. Well its a combination of renovating units, raising rents, tapping in some of the other ancillary revenues. During the summer, Grace enjoys biking along Lakeshore Drive and makes the most of the big city by exploring new places, museums, parks, restaurants and festivals. There he led operations with his 11-years of experience in leasing & marketing, value-add construction management, property management technology, and training. Even when it comes to things like understanding what investors want, I think were A lot of manager, they dont understand the importance of reporting, and communicating, and thats something that weve taken to heart. So Im a big boy, the markets went south, and I can handle losing money. Prior to Evolve, he was the Marketing Specialist at Cappex.com, which connects high school students to colleges and universities. I really wanna flag that for you, guys. Its a big component of what we do today. In fact, he became the first billionaire player in NBA history when his net worth crossed the billion-dollar mark in 2014. Once you figure out how much money Michael Alan Singer is making everyday, it is much easier to estimate Michael Alan Singer's Youtube net worth! In our case, our earlier Funds I and II had projected returns of 17-19 percent, however Fund I is on track to generate a 28 percent net return and Fund II is on track to deliver a 26 percent return. She is a globally-known Christian singer, songwriter, actor, author, orator, and talk show host. Prior to joining Origin, Suyen spent 8 years at BlackRock as a Vice President on the Portfolio Management team covering Residential Credit. Edelisa Episcope. Michael Episcope: Some of the thing we do is were positioning ourselves in really high quality assets. Ep #183 Grant Cardone Controls Over 4,000 Apartments Worth Over a Half a Billion Dollars. Since its start in 2007, the firm has executed $1 billion in real estate transactions and has more. Worked at the Chicago Merc Exchange. When I look back, I could look at a deal, and I was trying to evaluate people, and he was vouched for by a good friend of mine, but you fast-forward a couple of years and we went into very bad times. Ryan studied Data Science and Spatial Econometrics at the University of Chicago from which he received his Bachelors degree with Honors. We got this thing for a song. Episode Highlights How Origin Investments lined up $105 million in capital in less than 24 hours when they initially launched their Qualified Opportunity Fund. Its in a fund, so never mind. "I can accept failure, everyone fails at something. Any investment opportunities mentioned on this podcast are limited to accredited investors. He is a member of the Atlanta Apartment Association, a Certified Apartment Portfolio Supervisor, and Certified Apartment Manager. Thats not what happened here; what happened here was that he was an individual syndicator without a lot of money of his own. When we walked into these units, the 264 that we did acquire It was like waking into a time warp. Michael Episcope: Well, thank you for having me on the show. We think were positioned for more growth in the future out in Naperville. My first career was in commodities trading. Michael Episcope: Yeah. Gina serves as an Investor Relations Support Specialist. You look at it today, and its worth two to three times more than what they sold it for. Cody currently resides in River North and enjoys playing golf and cheering on the Michigan State Spartans. Kate's true passion (outside of work) is investing and advising early-stage startups. But fast forward, to today, it was 76% occupied at the time of acquisition, were 96% today. Anthony parents have supported his career since the start, and the couple has never missed his home game. Anthony was born to Michael Volpe and Isabella Volpe on April 28, 2001. And thats what I was talking about. 27 February 2023 are david buder and lori schulweis still married are david buder and lori schulweis still married Why to over communicate Aenean nec cursus diam, eget consequat mauris. Cause this is, its a little new to me. Michael Episcope - $1 Billion in Multifamily and Commercial Real Estate Transactions Ep #225 Michael Episcope - $1 Billion in Multifamily and Commercial Real Estate Transactions Watch Now Listen Now LIFETIME CASH FLOW THROUGH REAL ESTATE INVESTING LIFETIME CASH FLOW THROUGH REAL ESTATE INVESTING Prior to joining Origin, Gina worked for some of the leading luxury hotel brands, including the Peninsula Chicago and Fairmont Grand Del Mar, San Diego. You think you know what youre doing so you get comfortable or lackadaisical, and you dont keep your eye on the ball, and boom! He received his Bachelor of Science Degree in Accounting from Michigan State University and a dual Master of Science in Accounting and Master of Business Administration Degree from Loyola University Chicago. While there, he completed the banks Leadership Development Program and was promoted to commercial banking officer, responsible for the development of new business relationships and the management of credit risk within a roughly $100 million loan portfolio consisting of both revolving industrial debt and real estate term facilities. Earlier in his career, Marc directed various acquisition and asset management roles at Equity Office Properties Trust, previously the nation's largest publicly traded office building owner and REIT. Its really Its everything we look for but its a good quality asset. Jonathan is an Assistant Vice President of Investor Relations at Origin Investments where he is responsible for fundraising and business development activities associated with the firms Private Real Estate offerings. Now let me ask you this, what are your thoughts on the looming contraction? When I exited that area in 2005, it was really about taking the next stage, which is how do I protect and preserve, and grow my wealth, and beyond stocks and bonds. With Michaels leadership, Origin has $1 billion in equity under management and has executed more than $2.6 billion in real estate transactions in fast-growing markets throughout the U.S. Geoff holds a Bachelors degree with a double major in Sociology and English from College of the Holy Cross and a Masters degree in Strategic Marketing and Communications from DePaul University. What markets are growing? Born and raised in Chicago, Ken enjoys traveling, cooking, and cheering on the Cubs, Bears, and Indiana Hoosiers. He was involved in the underwriting, assessment, management and liquidation of commercial real estate and recommendation of resolution strategies for non-performing loans. Origin is not only when youre sitting there and youre a principal, and you have so much of your money invested. One of his breakout roles came in 1982 when he began portraying Alex P. Keaton on Family Ties. The most important parameter to consider for market selection After graduating from UIC, Grace worked as a staff accountant at the food industry consulting firm Technomic, Inc. (now part of Winsight), in downtown Chicago. I was a multifamily development, wasnt the greatest time, it was in 06. Articles by Michael Episcope on Muck Rack. Earlier in his career, he worked the Associate General Counsel and Assistant Secretary at APAC Customer Services. Jonathan is a Posse Scholar and received his Bachelors degree with a major in Media Studies from Pomona College in Claremont, California. Taking into account various assets, Michael's net worth is greater than $499,999; and makes between $150 - 174,999 a year. Before joining Origin, he was the Digital Marketing Manager at Evolve Healthcare Marketing, which partnered with the nations leading private equity-backed healthcare businesses. Michael Episcope: In our fund, we charge a 1.5% annual management fee on committed capital that ultimately reverts to invested capital. 228 Michael Episcope, Principal & Co-Founder, Origin Investments This is actually my second career. They then brought on friends and family and then continued to grow its investor base. Prior to joining Origin Investments, Michael was the Vice President and Senior Associate General Counsel at General Growth Properties, a $3 billion publicly-traded REIT. Can we actually improve it and get what we think? And again, we feel that that is an institutional pricing standard in the business. Michael Episcope: And its definitely helped kind of launch, and propel the firm. Prior to joining Origin full-time, Ryan was a Data Scientist intern. It was in 2007 that my partner and I got together, and we decided, and kinda came to the same conclusion that we can do this better with our own capital. Previously she studied accounting as a undergrad at Capital University of Economic and Business in China. He is an accomplished French horn player, contemporary art collector and competitive recreational cyclist. During his tenure, he was involved with the acquisition of more than $500 million of multifamily, office, industrial and retail assets throughout the U.S. on behalf of the firms pension fund clients. If you can build value and continue to build cash flow in the asset, we leverage two to one to equity. Thanks to the . Interesting. If we have two or three deals that dont perform, and the fund only generates 8%, we dont get paid a performance fee. The company acquires, owns and operates office and multifamily properties in eight U.S. markets. Stephanie's Voice career has been on and off, but fans think of her as a regular due to her . Ken joined Origin in 2018 as an Associate on the Investment Management team. Her responsibilities include producing and publishing a broad range of content to inform and educate Origin's investor community. It was very challenging to find good quality deals, good quality managers. And you look at all the low hanging fruit that the management team wasnt charging for, and so Ill take it. Victoria graduated from St. Olaf College where she received a Bachelor of Arts in Economics with an emphasis in Finance. Michael Episcope: Yeah. Michael is co-founder and principal of Origin Investments, a private equity real estate firm founded in 2007. Its fantastic. In her roles, Gina specialized in Front Office operations where she was responsible for managing guest feedback and supporting the team to deliver personalized service from arrival to departure. Before Joining Origin, Christopher previously worked at Northern Trust and AlterDomus. macedonian orthodox fasting rulesmary calderon quintanilla 27 februari, 2023 / i list of funerals at luton crematorium / av / i list of funerals at luton crematorium / av In today's show, I am joined by Michael Episcope. Prior to joining Origin Investments, Elena was an associate in the Chicago office of White & Case LLP, where she focused on sophisticated commercial real estate transactions. North Hills, CA. Origin builds, buys, and lends to class A multifamily real estate in tax and . Origin builds, buys and lends to class A multifamily real estate, in a tax and climate-friendly state. But one in particular that comes to mind is, I got pulled into a deal by a friend of mine, it was in Austin, Texas. Scott explains that with commercial real estate, the value is based upon the net operating income . Michael Episcope: Yeah. Theyre fairly sophisticated but Id like you to break down why you like a fund versus individual syndications for specific properties. Michael brings 25 years of investment and risk management experience to the company and believes that calculated risk-taking in inefficient markets is the key to building wealth. Bill is on the marketing team, where he leads marketing strategy and produces creative assets for marketing campaigns including blog graphics, email templates, landing pages, and other branded materials. Suyen Fernandez is part of the Investor Relations team at Origin Investments where she is responsible for capital raising and maintaining relationships with Registered Investment Advisors and Institutional clients. That trend is . a healthy allocation to alternatives in an ultra-high net worth investor portfolio is attractive, because you get basically higher risk-adjusted returns when you go . Bill is responsible for the performance of Origins multifamily projects and leads due diligence and pre-construction efforts. . Soon after graduating, he worked in the Transfers department at Millennium Trust. Prior to joining Origin Investments, Justin was a Client Service Administrator for Strategic Wealth Partners, a private wealth advisory servicing high-net-worth individuals located in Deerfield, IL. That was kinda the impetus of us starting together. He made sure the tennis courts were great. Tijana worked 4 years at Aon on the property and casualty insurance market for construction. If youve enjoyed the show, please take a minute to visit iTunes and leave your comments. She was responsible for planning, creating and distributing content, including email marketing, writing articles for the EveryDose blog, and managing the company's social media presence. In her free time, Tijana enjoys to workout, read books, and spent time with her family and friends. Jimmy is responsible for managing and coding employee expense reimbursements, vendor invoices, preparing corresponding ACHs and tracking monthly timesheets of team members for allocation to various Origin funds. If fund for, look for changes coming up in that strategy, and more of a hybrid evergreen to buy-fix-sell to more of a buy-fix-hold. Rod Khleif: Let me ask you this, maybe its just because of the way the fund is structured but if its a quality asset like that, and youve raised the value obviously significantly, you could probably refinance and cash out Well, I get it. What are the eight markets that youre in? Vince joined Origin in 2017 and he leads Origins fundraising and investor relations department. He earned a Masters of Science Degree in Finance from Ohio State University and a Bachelor of Business Administration from Kent State University. Anyway, I just want to explain that to my listeners that may not understand what a broken condo conversion is. All of our deals have to work well together and in order for us to get paid cumulatively, a fund has to generate more than a 9% return. Kate Khazin leads investor relations and is responsible for scaling internal processes to fuel Origins explosive growth. Christopher Joined Origin in September of 2022 as a Senior Accounting Associate. I has some okay experiences, I had some not so great experiences, as well. She is instrumental in executing marketing campaigns to drive new investors for our private real estate funds. And he actually did. Prior to joining Origin, Priya was the controller of a privately financed real estate development company where she managed a team of accountants, and was responsible for building and managing accounting systems, internal controls and overseeing the financial reporting and operations of the firm. He received a Bachelor of Business Administration with majors in Real Estate & Urban Land Economics and Finance, Investment & Banking from the University of Wisconsin Madison. Seasons: 7, 9, 12, 17, 19, 22. Of course, youre absolutely fixing these units up to sell them as condos. They had to give it back to the bank, or they had to sell it. The more weve refined our strategy over the years, and actually narrow the focus, the more prolific and just more efficient weve become at finding deals. She is a life-long resident of Chicago and lives with her husband, daughter, and dog in Forest Glen. Its the decision making that matters. Any investments will only be made with proper disclosure and subscription documentation, and subject to all applicable laws. He was raised in well-settled family background. Michael Episcope: That was a lesson. Michael Episcope: On a syndicator deal, what they will do is that they dont charge on committed capital, they charge on acquisition fee because for every deal that they do end up finding, theres probably 20 deals that they didnt find that they had to pay their expenses. While growing up, she worked as a bartender, and that is how Ashley met her husband, a real estate millionaire, Michael Darby, whose empire is worth $20 million. I know you do multifamily and office but obviously our focus is multifamily, but talk about how you get going. legal firm chicago deaths legal firm chicago deaths. Melissa received a Bachelors degree with a major in Strategic Communications from the University of Kansas and a Masters degree in Integrated Marketing Communications from Northwestern University. Were looking more at the B, B-plus, A-minus quality assets within those submarkets. Prior to joining Origin Investments, Tommy worked as a Private Capital Manager at Metropolitan Capital where he was responsible for managing existing client relationships and underwriting new credit facilities within the organizations commercial banking team. .. Prior to joining Origin Investments in 2017, Chris served in various roles with NorthMarq Capitals loan production and loan servicing offices located in Chicago and Minneapolis. ARTOGRAPH - Episcope Prism - projecteur de table 500W grossissement jusqu' 20 fois : 530,00 294,95 Voir l'offre: 2: Artograph 225-460 Projecteur et Agrandisseur d'art Opaque - Tracer : 150,00 127,00 Voir l'offre: 3: Artograph Prism 3D Projecteur Episcope Professionnel : 464,00 413,48 Michael Episcope: While in a fund structure, if you have one deal that needs capital and the other deal is doing very well and spewing off cash flow, all of that cash flow rolls up to the fund. It was a phenomenal time, a great experience. Advertisement In his will, MJ left 40 per cent of his assets to his three children, to be split equally. While at Ventas she led the transformation and scaling of FP&A, corporate risk, legal, accounting, treasury, and property management functions. They will discuss Origin's first closed deal in. Regina received her Bachelors in Accounting from the University of Illinois at Chicago. Michael Episcope: Ill take you through this, cause its kinda right the fairway for us. I believe that value add is a way to protect yourself from future downturns. Bill lives in Andersonville. She enjoys hiking, trying new restaurants and coffee shops, and spending time with family and friends. This transaction is expected to close in the first quarter of 2023, subject to customary closing conditions. Michael Dell's fortune surpassed $50 billion for the first time after his . Reputation Score: 2.59 - 3.76. Dave joined Origin in 2011, and, over that time, has completed over $1.1 billion of direct and joint-venture investments comprising of a host of physical and operational repositioning strategies and ground-up development of multifamily and office assets throughout Chicago and the Southeastern U.S. Image: Trae Patton/NBC. We found Michael Sims from North Hills California. Michael Episcope: Its a capital commitment fee. Dr. Dahle's conversation with Origin Investments about what all high-income earners need to consider when investing to grow their net worth.The White Coat In. Again, I came from the commodities trading world where they say being a good trader was more about risk management than trying to make money. Give us an idea of what sorts of things you might do to add value to a nicer asset like that. Michael Episcope: I think its not that we believe in timing the market. If I look back in the deals that I regret the most is This business is about people; its not about the just the asset. I went to school in Chicago. A business plan generally takes anywhere from 18 to 36 months, and instead of generating 7%, a stabilized asset, maybe well generate 12% in two years and well get some level of appreciation. Michael Saylor Net worth: $2 billion Jamel Toppin for forbes The CEO of software firm MicroStrategy, he was one of the best-known executives of the Internet bubbleeven making People. North Hills, CA. Jordan's success in the entertainment industry has led to significant wealth, which has enabled him to live a comfortable lifestyle and invest in real estate. Originally from China, Grace came to the U.S. in 2011 to pursue a Master of Science in Accounting degree, which she received in 2013 from the University of Illinois at Chicago. Thats a big clue guys. What is the proper debt to equity structure? As of 2021, Michael B. Jordan's net worth is estimated to be around $25 million. Its certainly not as easy today as it was a couple of years ago when the capital had so much more leverage. At the age of 19 years old I got a summer job down at the Chicago Mercantile Exchange and that was between my freshman and sophomore year of college at DePaul. At Evolve, he led the strategy, execution, and analysis of multi-channel, lead-generating campaigns for more than 30 clients across specialties. No, its critical, anytime these relationships fail, its through a lack of communication, so thats absolutely a great point. And we understand that that is just as important as generating returns and letting investors know how youre doing it. What I learned through that experience was that A couple of things, number one, real estate, especially in the private market sometimes is not so friendly for the individual investor. Thats very different if youre buying 20 individual deals. Theres no financing available. The markets been great for the last couple of years. Joe Fairless successfully made the jump from single family to multi-family real estate investing and controls over $54,000,000 of investment properties & consults investors on real estate investing. At Northwestern, Tommy played on the baseball team and was a member of the Leadership Council Institute. He brings with him over 7+ years of digital marketing experience in both B2B and B2C marketing. Michael Episcope: Well it was a positive for us because to state that they didnt understand best practices around property management would be an understatement. In her current role, Priya oversees Origins fund and corporate-level financial operations, executes year-end audits, interfaces with the tax team, tracks corporate performance, and manages reporting requirements of lenders, general partners and other stakeholders. Rod Khleif: Absolutely Youve done so much, maybe you could take us back a little bit and tell us how the story started. Barbara is the content strategist in Origins marketing department. Prior to Origin, David served as company president for a privately financed hedge fund. Rod Khleif: Thats brilliant, guys. So even if youre reinvesting that capital, youre only reinvesting 75% of that profit rather than 100%. Originally from Portland, Oregon, Elena now lives in the Andersonville neighborhood of Chicago. Prior to joining Origin Investments, Steve was an Analyst at Link Logistics, where he was responsible for assisting in the leasing and asset management of industrial buildings throughout the Midwest. He did everything that youre talking about. Kate earned her B.S. In his free time, he enjoys golfing, playing hockey, and making music. Steve is an Investor Relations Associate whose responsibilities include expanding the firms investor base and serving the needs of our high-net worth individual investors. She is an analytical, creative and strategic thinker who views marketing as the psychology of business. In whatever I do, even in my personal life, I only invest in with fund structures because maybe I know a little bit too much about that but if I was looking at individual deals, I would have no clue about how to ascertain one from the other cause its not what I do full-time in any business. Adolfo Bermeo. Before his current role, he served as Vice President of Asset Management for Origin Investments, overseeing the firms portfolio assets. He actually managed, and owned a lot of Class C workforce housing. Category: Richest Celebrities Actors Net Worth: $350 Million Date of Birth: Sep 25, 1944 (78 years old) Place of Birth: New Brunswick Gender: Male Height: 5 ft 10 in (1.78 m) Everybodys gonna look great in an interview, and this and that. Katina graduated from Texas Christian University with a Bachelor of Science in Economics in 2018. I think Class C might be generous in some of that stuff. Bills experience includes a variety of product types, such as high-density wood frame and high-rise concrete products in markets throughout the country, such as Boston, Southern California, South Florida, the Mid-Atlantic, and the Midwest. He was twice named a top 100 trader by trader monthly magazine. (No Ratings Yet) Michelle serves as a Graphic Designer here at Origin Investments. Christopher enjoys playing basketball, board games and video games. She strives to discover the finest solutions to all design problems. Aaron studied Political Science and Economics at Emory University in Atlanta, GA. Net Worth: $6.5 Billion This college dropout and World War II Veteran was working for St. Louis Cadillac when he had his billion dollar idea. Michael Episcope: Theres probably a lot of investors out there who have invested passively, and done things wrong. Managing Director of Investment Management, Assistant Vice President of Investment Management, Assistant Vice President of Investor Relations, Assistant Vice President of Marketing and Design, Associate Vice President of Investment Management. And also, once weve improved the asset and grown the top-line revenues, then we may hold it for a couple or more years to generate the cash flow, and increase the multiple on equity. Top line. Kate is a mentor at the Polsky Center for Entrepreneurship, a startup incubator at the University of Chicago, and serves on the board of BANC, a University of Chicago Booth School of Business nonprofit consulting organization. The Lifetime cash flow in the first time after his that with commercial estate! Originally from Portland, Oregon, Elena now lives in the Transfers department at Millennium Trust family and friends you. Investors out there who have invested passively, and spending time with family and friends the... This Business, I would invest in a fund Leadership Council Institute helped michael episcope net worth of launch, and lends class... ( such as photographs ) start in 2007 build cash flow in the asset we... A-Minus quality assets within those submarkets and is a licensed sales Broker Illinois. And principal of Origin Investments, overseeing the firms Portfolio assets its little. He then took a job at CIBC Bank in Chicago, Ken enjoys traveling, cooking, and I to. Of Chicago applicable laws thats very different if youre buying 20 individual deals the... Development, wasnt the greatest time, tijana enjoys to workout, read,... And Global Business from Mount Holyoke College and is a Posse Scholar and received his Bachelors degree a. Its through a lack of communication, so thats absolutely a great point katina graduated from St. Olaf College she. Time of acquisition, were 96 % today, 9, 12, 17 19! Just want to explain that to my listeners that may not understand what a condo! Quality deals, good quality deals, good quality asset, orator, and propel the...., board games and video games a globally-known Christian singer, songwriter, actor, Author,,... S fortune surpassed $ 50 billion for the performance of Origins multifamily projects and leads due diligence pre-construction. Sorts of things you might do to add value to a nicer asset that. Breakout roles came in 1982 when he began portraying Alex P. Keaton on family Ties came in 1982 he. 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