Six Peak Capital - Weekly L10

• The meeting reviewed refinancing, property operations, disposition activity, and a few development and capital topics.
• Participants focused on outstanding deliverables required to finalize financing models and multiple operational items needing confirmation.
• Financing and adaptive management: Tom is reviewing the Adaptive refinance pro forma and expects an updated rent roll showing market rents before finalizing the model for Zach’s team.
• The group agreed to finalize the term sheet this week.
• Chris asked Chris Andresen to maintain monthly model actuals added to projections.
• Operations and vendor issues: The team continued to monitor an outstanding electric billing discrepancy; the provider believes issues are resolved but wants another billing cycle and will confirm a date on a 10:00 call.
• Tom reported a meter and an electrical panel were scheduled/received and said he will confirm whether the Thursday installations occurred.
• Derek is awaiting one remaining prevailing wage bid for the Ramsky utility plan and will update that memo when bids arrive; he recommended lender engagement once bids are in.
• Bob is drafting pushback on proposed changes to board resolutions, specifically a financial support letter he views as unfavorable to Six Peak, and will consult Ed about LACCD outreach.
• Disposition and asset sale matters: Grandview has a $12.5M offer on Wilton and is deciding whether to accept or counter; Chris and Bob planned to speak with Grandview and encourage negotiation with Daniel so Six Peak can exit Wilton.
• The Melrose lender intends to run a sales process and proposed hiring Walker & Dunlop despite Wilton complications; the team noted market rent pressure and assessed that reverting Melrose to co-living is unlikely under current conditions.
• Development and capital markets: Schuyler reported Uplifters is moving toward TEFRA billing and engagement with Congresswoman Bass’s office.
• He also described exploratory JV interest on a 20-acre Palisades mobile home park and potential modular construction economics.
• Jeffries could not clear an investment committee for that deal, so private placement efforts will shift to ICG Advisors’ high-net-worth channels.
• The team discussed a Palantir engineers’ AI services proposal; Chris expressed concern about high monthly cost and recommended vendor arrangements that favor upside participation rather than large fixed fees.
• Contract and document coordination: Derek noted the Hillman/Francis package was returned to Anna for comment revisions and that he needs to coordinate with Grady and Greg to finalize contract exhibits; Chris will request a call with Anna.
• The meeting closed with no additional substantive items.

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