In February of last year, I ran my first 100-mile ultra-marathon. At mile 76, after 14 hours of running, I was making such great progress and feeling fabulous and the only thought going through my head was how I was going to convince the airline to let me on the earlier flight back home. But then mile 77 came along, and it was only then that I realized what being an endurance athlete is all about. For the next 13 hours, I very slowly and steadily walked and sometimes crawled toward the finish line. Ultimately, I did finish!
I feel that 2012 and the past few years are like my ultra-marathon. In the beginning of this recession it was difficult going, but, like any runner doing a marathon, we trudged on. These past 12 months have been more like the last 24 miles of my 100-miler. We were tired and hungry for deals and growth which haven’t come back in a big way yet. We were expecting to be on the plane ride home by now, but instead are persistently pushing forward slowly and surely.
I often tell people that the reason I run ultra-marathons is because it makes me a better businessman. I believe that the same persistent, never accept no mentality that gets me to the finish line of a multi-day run will get Signature and our team to the next level.
One of the most memorable moments of my 100-miler happened about 22 hours into the race at 5 a.m. It was dark and cold, and I was hallucinating. One of the volunteers walked with me for just a few hundred yards. This small act of support at that most challenging time made the difference between success and failure for me. That is exactly how I feel about the support that our team members, investors, lenders and partners have provided to us over the past few years. You have given us the vital support we need to succeed in the long-run. I look forward to seeing everyone on the finish line, which always becomes the start of our next challenge.
I feel that 2012 and the past few years are like my ultra-marathon. In the beginning of this recession it was difficult going, but, like any runner doing a marathon, we trudged on. These past 12 months have been more like the last 24 miles of my 100-miler. We were tired and hungry for deals and growth which haven’t come back in a big way yet. We were expecting to be on the plane ride home by now, but instead are persistently pushing forward slowly and surely.
I often tell people that the reason I run ultra-marathons is because it makes me a better businessman. I believe that the same persistent, never accept no mentality that gets me to the finish line of a multi-day run will get Signature and our team to the next level.
One of the most memorable moments of my 100-miler happened about 22 hours into the race at 5 a.m. It was dark and cold, and I was hallucinating. One of the volunteers walked with me for just a few hundred yards. This small act of support at that most challenging time made the difference between success and failure for me. That is exactly how I feel about the support that our team members, investors, lenders and partners have provided to us over the past few years. You have given us the vital support we need to succeed in the long-run. I look forward to seeing everyone on the finish line, which always becomes the start of our next challenge.
I am thrilled to welcome in 2013 with a newly formed company, Signature Group Investments, a specialized acquisitions group focusing on real estate, as well as related equity, debt and hybrid investments. Signature Community Investment Group will continue to specialize in the acquisition of multifamily properties with a resident-focused model of property management.
You have been invaluable in strengthening the Signature brand throughout our growth and expansion. Thank you for your support in 2012 and beyond. I leave you with my “Best of 2012” below.
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