NJ_TOAD
$SWRD part 2 since they wouldnt let me express my feelings all at onece lol
The part i’mwatching closely is the potential upside from the Envy acquisition the property currently generates approximately $1.7M in NOI)
Stewards plans to increase occupancy to around 95%, improve operations, and better utilize the marina and retail space so this isnhuge
Management believes those improvements could push stabilized NOI to more than $4.2M
So they didn’t just add a $90M property to the portfolio. They acquired an operating asset that they believe has significant room to increase income
Now let’s execute! GL all!
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