100% July rent collections
We recently provided an update on last quarter’s performance as well as the temporary lease accommodations we made to certain tenants, and are now pleased to report that we have collected 100% of contractual rent obligations due in July based on the revised budget.
This follows a strong quarterly performance. An overview of the portfolio can be found here.
Our focus today is on generating an acquisition pipeline that targets properties which may be forced into a sale at more attractive pricing than we have seen in the recent past. It will likely take time for these opportunities to emerge, so patience is required as the commercial real estate market begins to thaw from its recent freeze.
Eliot Bencuya is the co-founder and CEO of Streitwise. Eliot has extensive experience identifying, underwriting, and executing value-add real estate investments.
Prior to forming Streitwise, he was a Vice President of Acquisitions for Canyon Capital Realty Advisors and the Canyon-Johnson Urban Funds, where he was responsible for originating, underwriting, structuring and executing transactions in the Pacific Northwest, Northern California and Midwest regions. Mr. Bencuya also held positions at Sovereign Investment Company (a subsidiary of the Marcus and Millichap Company) and the investment banking division of Merrill Lynch & Co. He holds a Bachelor of Arts degree in Economics and International Studies from Yale University, and a Masters of Business Administration degree from the Haas School of Business at the University of California, Berkeley. Mr. Bencuya is a member of ULI.
