Risk Factors Update Summary
- Insurance costs are expected to continue increasing due to the implementation of a master insurance program.
- Revenues from wholly-owned properties in the Southeast increased to 75% and 10% in 2023.
- Property managers now manage fewer properties, with one managing eight and another managing four.
- Balloon payments on mortgage debt increased from $118 million to $138 million in 2023.
- Funds available for refinancing debt increased from $118 million to $138 million in 2023.
- The interest rate on mortgage debt increased from 4.30% to 4.85%, impacting operating cash flow.
- Gould Investors now own approximately 19% of outstanding shares, up from 17% in 2022.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=14846&owner=exclude
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