Streitwise just distributed Q4 2019 dividends of $0.25 per share, which equates to 10% annualized, net of fees*.
When we purchased the Allied Solutions building, we were excited that the growth of Midtown Carmel would support our leasing velocity, and that has come to fruition with new 10-year ground-floor retail leases signed with local favorites Penn & Beech Candle Company and Java Coffee House Bar.
We are also continuing to actively pursue additional acquisitions and are optimistic about new acquisitions in 2020.
In 2020, we are targeting an 8-9% dividend yield. We will begin using cash to amortize the Streitwise Plaza loan, as well as to fund capital expenditures. Amortizing the loan means we are building equity. This will lead to a healthier, more conservative balance sheet, and unlock shareholder value.
Elevated pricing for new acquisitions continues to be a challenge, but we will keep our discipline. We will not pay unreasonable prices to acquire “hot” properties. At the same time, we will not sacrifice quality or location to “chase yield”. Although investing can sometimes be a high-wire act, we look forward to toeing it with you.
Mr. Wills is the Marketing Director and Head of Product for Streitwise.
Prior to joining Streitwise, Mr. Wills was Head of Paid Media at Bitcoin IRA and Fortress Gold Group. Previously, Mr. Wills was the Director of Lead Generation at GTMA, a real estate marketing agency, where he founded the paid media department that oversaw a large nationwide portfolio of multifamily properties. Mr. Wills holds a Bachelor of Science degree in Marketing from the University of Florida.