Bulletin from The Niki Group 

Financial Statement Annual Letter - 2017

We have had another year of growth and profit.

In 2017, we acquired 43 properties, while continuing to maintain a conservative debt-to-equity ratio of 53%.

During 2017, we generated $24 million of earnings before taxes, depreciation and amortization. $17.7 million was from gain on the sale of 20 Net Lease Investments and five Joint Venture Investments ($11.9 million and $5.8 million respectively.) 

Reliable rental revenue is the core of our business. During 2017, we grew our Net Lease Investment revenue, with over 75% of this amount coming from national or regional branded tenants. 

In 2018, our primary objective is to further strengthen and grow our reliable rental income through quality acquisitions and proactive asset management. This year, we expect to dispose of fewer assets as we believe that our current portfolio consists of high-quality properties that will increase in value over time.

We continue to invest in our infrastructure so that we can provide optimal management and responsible growth.  Thank you to our team for their continued dedication and our loyal and committed investors, without whom none of this would be possible.

 

David J. Trakman

Chief Executive Officer

Financial Statement Annual Letter - 2016

Policy and Future Outlook

2016 marked the first full calendar year since The Niki Group’s reconstitution and we are pleased with the group’s overall progress. We achieved a number of our stated objectives including the continued acquisition of quality core properties and the growth of our team of qualified professionals and partners.

Our acquisitions for the year exceeded $90 million and included over 35 leased projects and multiple joint ventures spanning 16 states. Our balance sheet grew both in terms of assets ($81.3 million increase) and equity ($39.1 million increase). Our acquisition highlights for the year included:

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Year End Bulletin - 2016

I write this year end message from the slopes of Telluride, Colorado.  The election of Mr. Donald Trump was a surprise to me and most of my associates.  Nonetheless, Mr. Trump is our President elect and must be supported.  It remains to be seen how many of his campaign promises are put into effect; what seems apparent, however, is that for the short term, our economy is likely to do well and he is considering practical businessmen and women, such as Mr. Andy Puzder of CKE Restaurants, to be the Secretary of Labor.

This year we acquired 40 leased projects and invested in multiple joint ventures.  Our acquisitions for the portfolio exceeded $100million with properties located in 16 states and a focus on the retail, automotive, pharmaceutical and medical sectors. We also established two new significant lender relationships. We took some risk on the Rite Aid and Walgreens merger which seems almost complete, and in hindsight, we should have acquired more units than we did. Matt Blanchard and Michael Azakie are recognized here as without the two of you we could not have kept our growth going. I am excited about the projects we have acquired and look forward to re-developing some of these sites adding value through both cash flow and imputed profit and ultimately strengthening our portfolio.

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ICSC REcon

icsc recon 500From left to right David Trakman, Ben BernankeICSC was as busy as ever with an attendance of approximately 36,000 people this year.  With my first anniversary of joining The Niki Group approaching, I was happy to finally meet so many of the people I work with on a regular basis.

Some highlights of the show for me were meeting with: Mark Senn and his team from SEDA, Lior Regenstreif of Marcus and Millichap, Roberto Buenaver of Garrett Development Corporation, Jereme Snyder and his team from Colliers, Jeff Manelis of The Pederson Group, Jon Wheeler and his team from Wheeler REIT, Dan Hoogesteger of SIG, Jeff Wagner of NASB, Ryan Forsyth of Cushman & Wakefield and many others in the industry.

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1st Quarter 2016

We set out with big goals to complete consolidated financials by the end of the first quarter. We succeeded. Thank you to all staff for their hard work. Lenders and investment partners will be sent their copies.

Other than development deals, we are at almost 100% rent collection with 2 vacancies in the portfolio. We acquired 3 properties and disposed of 4. The market continues to be a seller’s market. Interest rates as expected stay low and refinancings are a significant focus for Q2. We expect to dispose of 6 properties this quarter and acquire approximately 6.  The highlight for us in Q1 was meeting our financial reporting requirements well in advance and seeing the rewards of holding firm on our disposition pricing. We opened our first Carl's Jr. with SGD and look forward to many more stores with them. In Q2 we eagerly anticipate the opening of Sprouts in Chandler, AZ where we have invested with Common Bond and the opening of another 99 Cents Only store in Los Banos, CA.

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