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COMPANY POST-CLOSING SUMMIT
In October, leaders in Portfolio Management met with key personnel from across the company for our inaugural Post-Closing Summit to address critical issues and develop solutions. Over three days, we identified five discussion areas and held targeted meetings focused on enhancing post-closing communication and processes. The first day of the summit focused mainly on the interaction between asset management and fund management. One meeting focused on audits and tax returns and the other on funding of equity installments and investor capital calls. Solutions identified were centered on additional training to foster understanding of broader processes and reinforce concepts
around procedures. Leaders collaborated and engaged in meaningful discussion, leaving us encouraged for the next round of summits. We celebrated a successful summit start with a little competition and some fun by swinging golf clubs at Back Nine. On the second day, discussions focused on improving communication and engagement across departments, ensuring smooth transaction transitions from Acquisitions to post-closing teams like Asset Management, Fund Management, and Construction. Enhanced policies will address challenges before and after closing, with follow-up meetings to explore specific topics like construction loan conversion timelines and
involving asset managers earlier. We wrapped up the afternoon with a dive into the consent process, examining recent process improvements, opportunities to streamline communication and ideas on how to reduce unnecessary consents due to lack of clarity within lower tier documents. Finally, Asset Management and CREA IT collaborated to improve tools and create efficiencies. Several IT projects were identified to reduce non-value-add tasks for asset managers. Overall, the summit was a success, with productive discussions leading to action items aimed at improving post-closing communication, effectiveness, and efficiency.
ASSET MANAGEMENT SUMMER SITE VISITS One perk of summer site visits? Getting to blend business with a little adventure! Our Asset Management team made the most of it this season, from Priscilla Lamour’s Kansas City BBQ and Maine lobster adventures, to Andrew Kemen’s 5-hour scenic drive from Anchorage to Homer, Alaska. Amanda Dennison took her work trip to new heights with crab legs and karaoke at a Carolina beach boardwalk, plus a surprise visit to the stunning Toccoa Falls in Georgia. Check out the photos that capture these fun and scenic moments from a summer of unforgettable site visits!
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