We are pleased to announce two new leases at Streitwise Plaza: a 5-year new lease to Segue Partners, and a 5-year extension with Mutual of Omaha.
St. Louis-based Segue Partners provides integrated, comprehensive financial consulting and accounting solutions for private funds. And Mutual of Omaha is a life insurance company that has been successfully operating for more than a century.. These leases bring the Streitwise Plaza occupancy to 98%.
Executing leases in the current environment speaks to the positive fundamentals in the St. Louis office market in general and Streitwise Plaza’s attractiveness in particular.
Many have asked about the effects of COVID-19 on our portfolio. What if tenants at our properties default on their rent?
Given the REIT’s financial position and our modest property-level leverage, we have the ability to withstand short-term revenue declines and we believe that many of our tenants are similarly positioned. It is times like these when we appreciate the stabilizing influence of a creditworthy rent roll. That said, we will evaluate each request for rent relief on a case-by-case basis. In the long run, we believe the quality and location of our properties will allow us to weather economic storms better than most, and back-fill spaces that may ultimately become available.
More info about this offering can be found here. If you have any questions please let us know.
Mr. Karsh is a Partner and Co-Founder of Streitwise. His primary responsibilities include sourcing and executing new investments, managing corporate operations, and overseeing investor relations and reporting.
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.