I am pleased to report that Oksenholt Capital (together with its affiliates) experienced its first significant and intentional portfolio reduction. After experiencing difficulty locating good risk adjusted investment opportunities and forecasting increasing uncertainty, I sold or entered into contracts to sell numerous properties including 700+ multifamily units. In addition we initiated or completed the refinancing of a majority of our commercial properties on favorable terms. In a nutshell, I felt it was time to take some profits and decrease risk. Among additional highlights of Oksenholt Capital and its affiliated companies: We completed development of our first branded boutique apartments, expanded our hospitality offerings and increased our liquidity. Additionally, our development team has been busy gaining entitlements to several mixed use projects on land owned outright by our affiliates. We also significantly added to our pool of human talent. I am certain that none of these achievements would have been possible without the focused efforts of an amazing collection of people employed by our subisidiaries and affiliates.
We remain focused on developing, purchasing and improving well-located, efficient, and state-of-the-art properties and real estate related businesses. In 2020 we will remain patient for the right opportunities and focused on achieving superior risk adjusted returns.
Love, Loyalty & Cashflow,
Jon Oksenholt, CEO