Streitwise has declared a $0.21/share dividend for 3Q20, which equates to 8.4% annualized based on the original $10.00/share offering price, or 8.3% based on the updated NAV of $10.07/share. Dividends will be distributed on October 9th pursuant to the payment option selected in the Investor Center.
We have been consistent since announcing in 2019 that our dividend yield going forward would likely be 8-9% as we amortize debt and continue to re-invest in our properties. Despite the significant volatility in the public markets and the pandemic’s severe impact on the real economy, we believe we are still on track to achieve our original 8-9% dividend guidance for 2020.
The investment sales market, particularly for office properties, remains largely quiet as sellers are not yet willing or forced to part with assets at current clearing prices. We believe patience will be rewarded as we consider new acquisition opportunities.
Mr. Karsh is CEO and Co-Founder of Streitwise and Tryperion Holdings.
Prior to forming Streitwise, Mr. Karsh was an Acquisitions Analyst for Canyon Capital Realty Advisors and the Canyon-Johnson Urban Funds, where he was responsible for underwriting, structuring and executing value-add and opportunistic transactions. He holds a Bachelor of Arts degree in Political Science from the University of Pennsylvania. Mr. Karsh is a member of ULI and is also a Real Estate & Construction member of the Jewish Federation of Greater Los Angeles.