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Quarterly investor report — Q2 2026
AI first draft from changes since the prior report
Portfolio. The portfolio comprises 5 assets totaling 1,237,000 SF and $235.8M of gross value, producing $9.1M of in-place NOI. Operating occupancy stands at 73.9%.
Transactions. Sabal Point Industrial advanced to due diligence at a projected 18.4% IRR. Harborview Logistics is under LOI at a 5.5% cap; closing awaits resolution of prior-lender UCC releases. The Regency refinance is in the financing stage, targeting ~$4M of supplemental proceeds.
Debt. Three loans mature within twelve months. Commerce Park (Seacoast, $17.5M) is the priority given a DSCR of 1.18 against a 1.20 covenant and a rate cap expiring in October.
Construction. Ovation Orlando is 41% complete; the forecast at completion rose $1.4M this quarter pending change-order review on Draw #7.