100 Day Update.
100 days ago I put the following challenges out to our teams.
Occupancy - 97%
$50M in new acquisitions.
$45M in financing.
Close Wilshire
Stabilize all 07-08 deals.
And on top of that deal with all our daily icebergs.
So the update -
Occupancy - 93.25%. Great job in this economy. Let's keep pushing to hit 97%. We can do it.
Acquisitions - none - we have a lot in the pipeline but are still waiting for the sellers (lenders) to get realistic on price. We will wait to get the right deals.
Financing - zero - ties into above.
Close Wilshire - still negotiating for the right price and terms.
Stabilize all 07-08 deals - Waldo and Schuyler are holding us up on this goal.
Its been a tough 100 days for us as well as the rest of the world.
We obviously missed our goals but we have made great progress in what seems like a 100 mph head wind.
What we do have after 100 days is direction. We have goals and people are working towards them on a daily basis. Second, we have an understanding that our Icebergs, while solvable, have taken time to turn around. I look forward to removing the Icebergs from our list.
Let's Make It Happen!
Nick
No comments:
Post a Comment