Explanation:

• Option A (Core-plus): Incorrect. Core-plus strategies involve slightly higher risks, often in non-core markets or sectors, such as hotels, nursing homes, or niche properties like student housing and data centers. These are not typically focused on modest redevelopment or leasing vacant space.

• Option B (Value-add): Correct. Value-add investments are characterized by modest redevelopment, upgrades, leasing of vacant space, or repositioning properties to generate higher returns compared to core properties.

• Option C (Opportunistic): Incorrect. Opportunistic investing involves significantly higher risks, such as development, major redevelopment, repurposing assets, or speculating on market conditions, which are beyond the scope of modest redevelopment or leasing.