Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Sloan Bohlen - Goldman Sachs.
Sloan Bohlen - Goldman Sachs
Quick question for Denny and Christine as well, we’ve heard from a couple of your peers that the pool for life insurance that this year or new originations may dry up a little bit sooner than have in previous years. I wonder if you can comment on that given that you’re currently in negotiations on $200 million and what that changes your expectations for the rest of the year?
Christie Kelly
First let me say, we signed a term sheet with one LifeCo for $280 million and we are expecting that we will have our commitment executed on that sometime during mid May. Diligence and visits to the property have been completed. So right now, we are just working on some of the remaining particulars, if you will, leading us to that commitment.
For the remainder of the $200 million, we are close to executing on about a 125 of that. We should be close to a term sheet here in the next week or so and the remaining portion of the portfolio we’ve had reverse inquiries on and are working with E-sales to market that and its have had a lot of interest. So, we view that by this summer. We are going to be all tied up and we’re well in our way.
Denny Oklak
I would just add to what Christy said that based on what she just said were not really seems a lot of dry up in the market for us so far. We’ve been able to do or have commitments for what we really had planned to do for this year.
Sloan Bohlen - Goldman Sachs
Then with regard to asset sales strategy going forward, what are you guys seeing in terms of what you have on the market right now, can you give us a characterization of the bidders that are showing up? I guess kind of the range in which you are seeing cap rates if you are willing to share that?
Bob Chapman
We don’t have that much on the market as we sit here today. We have a capital plan, where we are going to be out there executing, but those that we do have on the market we are seeing cap rates in the 8 to 10% range with I’d say descent activity, more on the industrial side than on the office.
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