If someone entrusted you w $5MM, common decency would require you to keep accurate records of where the $$ went.

Yet there is a whole world of sub-institutional prop mgmt co's to whom $5MM buildings are regularly entrusted, which are not able to timely produce such records.

🇮🇱

A+

Were you there when Jay Schuminsky blew Nick Huber's mind with his ~$1bn storage exit and 1031 at Reconvene '22?

AMERICA HAS AN ELECTRICAL COMPONENTS CRISIS

Tracy Alloway and I talked to Chris Hatch / NNN Income about the ongoing scarcity of switchgears and transformers, and how you have virtually complete buildings going empty because they can't get one critical missing part.

bloomberg.com/news/articles/…

Given the rate environment, am assuming this is bits, not sticks

More on this, from Liam Dillon:

latimes.com/homeless-housi…