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