Six Peak Capital - Weekly L10
alc@sixpeakcapital.com, Bob Kennedy, Chris Aiello, Chris Andresen, Derek Sanders, grady lakamp, Robert Carrega, Schuyler Dietz, Tom Taggart
Summary
What happened
- The meeting reviewed operational progress, project integrations, and outstanding transactional and entity-formation work.
- The team demonstrated a new L10 weekly portal that will ingest Read AI notes to auto-create action items and track rocks; Chris explained it was built on Quad code and may require fixes after initial runs.
- The group confirmed outstanding action items and assigned entity formation and an operating agreement draft to Chris Andresen based on an updated org chart sent to Jane.
- Project decisions included adopting OpenSpace for Ramsgate with a 30-day trial and Derek obtaining a proposal, and integrating OpenSpace into Francis later.
- The electronic submetering issue appears functionally resolved pending confirmation that all 33 unit readouts are live, with Tom following up with Debbie.
- Bob outlined a new rocks cadence requiring quarterly rocks submitted four weeks before quarter end and an annual in-person planning meeting.
- Administrative and transaction matters covered 401(k) processing, Chase account updates, recirculation of the operating agreement for the 16th Promote Entity for signatures, and a likely funding of the Third Street closing shortfall (~$140K) if contributions do not arrive.
- Construction will be globally re-quoted due to scope changes with repricing expected in one to two weeks, while legal negotiations with MRK continue in parallel with conditional language proposals under review.
Action Items
Follow-ups
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Chris Aiello Chris Aiello will fix any issues if the new L10 portal breaks after the first run
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Chris Andresen Chris Andresen will recirculate the 16th Promote Entity operating agreement for Steve and Bob to sign
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Chris Andresen Chris Andresen will locate or provide the approximately $140K needed to fund the Third Street closing if Stain and MRK do not wire funds
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Chris Aiello Chris Aiello will request escrow wiring instructions and ask that the correct instructions be sent today
Files Referenced
Referenced documents
None.