A few weeks ago our team came together to talk about coronavirus, the global economy and our path forward.
Coincidentally, our meeting date represented the worst day in the stock market since 2008 – as we all know the slide has continued.
Things will undoubtedly get tougher which will create uncertainty for our team, our partners and our portfolio of tenants. Adaptability will guide.
A year ago we reflected on our 30 years in business. The consistent theme across the market cycles: appreciate the upside, but always prepare for the downside.
Together we have constructed a portfolio and built relationships mindful of the downside – prime geographies, higher quality assets, lower leverage, cash in reserve, etc.
We continue to be proactive in our approach with our partners (e.g., tenants, lenders, government) leaning on relationships to proceed forward thoughtfully and deliberately.
And we are looking to operations and the capital markets for opportunities to improve our portfolio collaborating on a variety of real time strategic initiatives to further strengthen our platform.
We have always prided ourselves on being an entrepreneurial, engaged, positive and adaptable group and this foundation will continue to serve us well.
We are positioned to weather the storm ahead and come out the other side a stronger company, portfolio and partners.
We have seen tough times before and, as in the past, we will navigate our way through this together.
Thank you, as always, for your trust, confidence and partnership.
We are built for this.