Six Peak Capital - Weekly L10

• The meeting covered Las Vegas staffing needs, upcoming cash flows, payment processing issues, quarter-rock statuses, and select deal-specific updates.
• Attendees reviewed recent LV departures, restarted interviews for two superintendent roles, and debated adding an LV controller or other support if Robert's capacity is exceeded as three new jobs begin and several require compressed payout turnarounds.
• Finance operations focused on a Yardi Bill Pay failure mode: an increase to single-payment limits triggered Yardi's review process and left payments held for days until a support ticket cleared approvals.
• The team agreed to run upcoming payments as scheduled, stagger batches by job (Khalifa and Whipple separately), pre-seed Yardi with tickets at processing to avoid holds, and monitor results; abandoning Yardi Bill Pay remains an option if problems persist.
• Robert said timely invoice preparation is critical and will reassess capacity with Chris Andreessen and others.
• Quarterly rock updates showed most items near-complete but a few off-track: BD engine pending a consulting agreement with Tom; Chris's board portal/reporting standard awaiting Steve's feedback; Tom's third-party platform nearly done with a contact-list addendum; Derek awaiting external review on Ramsegate prevailing-wage language; Schuyler progressing on third-party reporting and a foundation contract awaiting a city council vote.
• Bob emphasized the 8/31 deadline to close or clean up rocks for the 9/1 session.
• The AI/attachment use case was discussed; Bob will research methods to expose email attachments to Claude.
• Deal-specific items: Francis is likely to close this week (rate lock expires ~Aug 16; extension cost ~ $90K); Sterling Bank's Credit Committee must remove Stained Capital LP as guarantor and Goldberg is seeking a buyout of economics before closing.
• Reading refinance closed but the asset hasn't reached the 90% occupancy threshold for an AM fee; team discussed resident turnover and exit interviews.
• Pitch appears unlikely to refinance; the team will press Pitch for a funding decision and paused U-permit work until funding mechanics are clarified.
• Reseda's Nov 30 deadline is unattainable and will likely require an extension.
• Parking easement HOA dispute is an underwriting negotiation risk but not an absolute bar.
• Contingency if Sterling declines: Stain Capital LP guaranty under prior terms or replace Sterling as bridge lender; described bridge loan backup terms are ~$3.75M with ~1.5% commitment fee and ~9% interest, drawn near project completion (Feb 2029) and repaid at rental achievement (~Jan 2030).
• The meeting closed with routine wrap-up and reminders to refresh dashboards and finish assigned to-dos.

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