CF CAPITAL | ELEVATING COMMUNITIES TOGETHER
Hello Friends and Investors,
We hope you had a happy and enjoyable 4th of July! As we move into the second half of the year, we are excited to share updates on our progress, team developments, and market outlook.
We are thrilled to welcome Leslie Andren as our new Managing Director of Asset Management. Leslie brings a wealth of experience in real estate asset management and will be instrumental in enhancing our portfolio's performance.
Bio: Leslie Andren has over 30 years of experience in commercial real estate across various roles and institutions. Starting in commercial real estate banking, she handled distressed debt and originated loans for major U.S. developers. Her career spans both distressed commercial real estate debt and multifamily investments. Leslie's employers include Continental Illinois National Bank & Trust, GE Capital Corporation, Bank of America, Prudential Insurance, Equity Residential, Moran & Company, Cushman & Wakefield, Alliance Holdings, Atlas Apartment Homes, VennPoint Real Estate, and Strategic Properties of North America. At Equity Residential, she acquired a $380 million portfolio in her first year and managed a 15,000-unit West Coast portfolio. Leslie co-founded Atlas Apartment Homes, establishing key departments and acquiring hundreds of millions in assets. She holds an AB in History from Kenyon College and an MBA in Finance and Real Estate from the University of Wisconsin, Madison, and has been a member of NMHC, ULI, and CREW Chicago.
Our very own Tyler had the honor of delivering the keynote address at the Strategic Capital Raise Summit. His insights on "The Power of Mindset in Shaping Success" and ensuing effective capital raising strategies were well-received and sparked engaging discussions among industry leaders.
The summer has been a blast for our collective families! Our kids are enjoying swimming, basketball camps, and various summer camps and activities, making the most of the sunny days.
This month, we celebrate the birthdays of Dan Michael and Leslie Andren, two of our phenomenal team members. Please join us in wishing them a fantastic year ahead!
As we begin a new quarter, we are focused on achieving our goals for the second half of the year. One of our current initiatives being to close on our active acquisition in Indianapolis, Island Club—Invest Now, which is expected to be no later than mid-Q3. We remain hyper-focused on optimizing operations within our existing portfolio and successfully navigating upcoming capital events to protect and secure investor equity. Our recent quarterly offsite was a great success, providing us with the opportunity to align our strategies and set ambitious targets. Our company runs on "Traction," and we relish in the opportunity to step out of the day-to-day to work on the business on an annual, quarterly and weekly basis. This edition of the quarterly offsite yielded exciting clarity on some existing initiatives and strategies to employ for us to get closer to our Vivid Vision.
We remain optimistic about the multifamily real estate market, while fully sentient on the current market challenges. The capital markets remain volatile, and we anticipate that volatility to remain throughout Q3 and into Q4 as this election cycle kicks into high gear. On the ground in our target markets of the major MSAs in Kentucky, Indiana, Ohio and Tennessee, fundamentals and trends indicate a stable demand for quality housing (with mostly stable new product deliveries and absorption), and we are well positioned to capitalize on the most attractive opportunities. Our team is diligently interacting with and monitoring market conditions to make informed decisions that will drive growth and deliver value to our investors. We're continuing to underwrite a robust pipeline of potential acquisitions on a daily basis and expect the next opportunity for your consideration to be coming soon. We still believe we're in a window of opportunity to acquire assets at very attractive discounts that will not last when rate cuts come back into the picture.
Thank you for your continued support and partnership. We look forward to sharing more updates and successes with you in the coming months.
Best regards,
Tyler & Bryan
PS. There's no higher compliment than you referring us to your friends, family, and colleagues. We'd be honored by the opportunity to become a part of their trusted networks. Share your experience investing with CF Capital & invite others to become an investor here.
