CEO UPDATE: JULY 2020
HOW WE WILL PLAY IN THE NEW NORMAL?
As we move past the mid-way point of 2020, we acknowledge that this year has decimated the wealth of many people around the world. Routines, lives, families and businesses have been turned upside down.
Today is the 18th July, which is Mandela Day and as I write this update, New York basks in warm sunshine. Despite surging COVID numbers and the recent riots that have dominated news media, the mood across the US is becoming more optimistic as each day passes. Mandela Day is a global call to action that celebrates the idea that each individual has the power to transform the world and has the ability to make an impact.
Our very existence at OrbVest is to impact the lives of our investors globally. We spend our energy seeking out the best stable medical real estate investments we can find in the USA so that you can grow your wealth, become global citizens, and enjoy peace of mind for yourself and your family. Whilst this pandemic continues to ravage aspects of society, there are always winners and losers in every global event.
We are glad that you have landed on the winning side with your medical investments. Over the past quarter we have managed to collect around 95% of normalized rentals, which is simply amazing and underpins the resilience of our healthcare strategy. This performance and the acknowledgement throughout the real estate industry that Healthcare has become the shining star, is creating a silver lining for OrbVest.
So, how will we play in the new normal? Over the past month we have received new enquiries from family offices, investment brokers and financial advisers from around the world who are interested in our healthcare deals, and we are excited about the new momentum that will diversify our investor base across new countries. We also enter the next quarter with a strong pipeline of great investment opportunities, that are perfectly aligned to our investment strategy. The new normal dictates an even greater level of scrutiny and conservatism, and we will always have the courage to withdraw from any deal if we have doubt that it will not achieve the returns that we project. We buy buildings that will be worth significantly more 10 years from now, which is the reason why we are so obsessed with medical real estate.
This week we launched our newest opportunity in New Jersey, namely Princeton 300A, nearby Princeton university and a mere 1 hours’ drive from Manhattan. This deal truly embodies our typical sweet spot deal and is beautifully simple.
We acknowledge the enormous pain that covid-19 is having on the world but are humbled to be in a business focused on an asset class that is truly having a positive impact on those around us, now and into the future.
Martin Freeman
OrbVest CEO
