April, 2020 - Meckelborg Financial Group

Alignvest Student Housing – Flash Report

by Meckelborg Financial Group on April 21, 2020 with No Comments

Please find below the most recent update on Alignvest Student Housing. Management wanted to share the latest numbers regarding the lease up for the 2020/2021 school year and the collection of April rents. In summary, we are ahead of where we were last year with respect to leasing for the upcoming school year. Our properties are proving to be highly desirable and some of the feedback received has been that higher quality properties are even more in favour during these times of uncertainty. With respect to April rents, we are tracking to get over 97% of rent cheques. Although lower than usual, it is still far above any amount that would have management concerned about cash flow.

COVID-19 Flash Report

Adventus Realty Trust: Covid-19 Update

by Meckelborg Financial Group on April 15, 2020 with No Comments

Dear Adventus Investors,

Please see the below update from Adventus’ management team. As you will see, they are taking a prudent and conservative approach throughout these unprecedented times and we commend them for doing so. We will continue to engage with management to better understand the challenges they are facing as the COVID-19 situation continues to unfold. We will keep you informed as additional information is provided.

Please see below:

2020.04.09 – Adventus Realty Trust Provides COVID-19 Update, Temporary Suspension of Distributions and Termination of New Dallas Property Acquisition

COVID-19 Update and 2019 Annual Management Report

by Meckelborg Financial Group on April 1, 2020 with No Comments

Please see the annual report from Management that includes audited 2019 financial statements. The section in the report entitled “2019 Year In Review” does a good job highlighting the success we have had during the year.

COVID-19 is obviously top of mind for everyone these days including students, universities and property owners. Management has done a good job highlighting our efforts thus far in planning for COVID-19. Our staff and students are our number one priority. This is outlined in the two sections, “Our Response to COVID-19” and “FAQ on COVID-19”. We want to ensure investors that the REIT is well positioned to withstand a prolonged disruption if necessary. We currently have 4 years of expenses in cash on our balance sheet. This $50+ million of cash provides us tremendous stability and we are taking measures to tighten up our operations to ensure we continue to be financially prudent. We are working closely with the universities to better understand their perspectives and strategies for the 2020/2021 school year.

We are the largest player in the Canadian student housing space and our balance sheet will ensure we exit the COVID-19 pandemic in a favourable position.