Six Peak Capital - Weekly L10

• The meeting reviewed project construction, utilities, financing, legal, and accounting status across multiple assets and transactions.
• Participants covered outstanding installations, pricing and GMP work, buyer outreach for a sale, and deficiencies in finance deliverables.
• On construction and utilities, installations are complete except one panel that Derek will deliver for Thursday installation; Tom will confirm tenant billing on the 10:00 a.m. call.
• Ramsgate requires a prevailing‑wage contractor with auditable payroll; Derek is securing a revised proposal and targeting three prevailing‑wage bids to support bank pricing.
• Construction repricing and a full GMP remain incomplete; Derek has submitted partial items but a full GMP pass is not yet available.
• Hillman requested substantial plan changes and signings to the construction agreement, creating friction and outstanding review.
• On financing, sales, and closings, Wilton’s marketing via Walker & Dunlop produced a best offer of about $15.5 million from Daniel Porvaba, but his response is slow and the sale outcome is uncertain.
• The team agreed to re‑approach prior buyer leads, co‑living operators, Ed Medivosian, and LACCD.
• Reseda has been awarded and the team is awaiting Adam’s decision; Reseda and Francis/Boldfin are current priorities ahead of Third Street.
• Several closings remain on hold pending completion of a French closing, three HVN closings, bond requirements, and lender approvals; these delays could push final closings, including Francis, toward Labor Day.
• On legal and JV items, additional finance documents from Stain went to Anna; Irene will review the JVA and financing/equity agreements for the partnership while Jane Hinton’s review is limited to guarantor provisions and permitted transfers.
• Uplifters Foundation received TEFRA approval; a council resolution and the mayor’s written approval are required before fundraising can begin.
• On accounting and tax, Chris Andresen reported Stain’s finance deliverables are disorganized, LP portfolio work is delayed, and Markham output will be reworked; most remaining items are expected to complete in August–September.
• Chris Aiello requested a concise email summarizing Markham/accounting problems for escalation to Anthony and Steve.
• Insurance broker changes have introduced additional coverage risk.
• Administrative items noted: Bob will draft a Google calendar for meeting cadence for Chris’s sign‑off; Joan continues work on an invoice‑coding AI workflow; an engineers call is scheduled later with Derek and Bob.
• Attendance and travel plans include Bob’s Los Angeles trip the week of June 8 and attendance at the Ramsgate topping‑off ceremony on June 12.

• ✓
  Bob Kennedy Bob Kennedy will draft a meeting cadence calendar in Google Docs and send it to Chris for sign‑off before issuing invites to the rest of the group.
  → To-Dos
• ✓
  Derek Sanders and Bob Kennedy Derek Sanders and Bob Kennedy will join the engineers call later today to advance the invoice‑coding AI workflow.
  → To-Dos
• ✓
  Chris Andresen Chris Andresen will rework Markham’s tax/accounting deliverables and send a summary email to Chris Aiello and Bob Kennedy describing the outstanding accounting issues.
  → To-Dos
• ✓
  Bob Kennedy Bob Kennedy will travel to Los Angeles the week of June 8 and attend the Ramsgate topping‑off ceremony on Friday the 12th
  → To-Dos
• ✓
  Derek Sanders Derek Sanders will read the Hillman materials and provide a response
  → To-Dos

None.