Their credit track record is spotless, but this one comes soon after IQHQ RaDD San Diego - in addition, they are modifying and extending many loans. How do you monitor their credit quality to avoid Taleb's Turkey?
How would you rate the rest of the management team? (CFO, CLO, etc.) At first glance, they don't seem to have the same tenure and seniority as Gleason.
Thanks! It is a good question. I did get some references on Brannon Hamblen, the President and George's right hand. He refers well. I did not specifically vet other members of the mgmt. team, but former employees all point out that there is a strong performance culture and George invests a lot of energy in trying to hire outstanding individuals. That being said, Key Man is one of the core risks in this investment, as you rightly point out. I got a lot of comfort that George intends to stay around for a very long time, but of course health issues could change that...
Hi,
Loved the article back in Jul'24 :) So far, it has been a bumpy ride. I was wondering what your take was on this one?
https://therealdeal.com/chicago/2025/03/29/bank-ozk-to-seize-chunk-of-sterling-bays-lincoln-yards/
Their credit track record is spotless, but this one comes soon after IQHQ RaDD San Diego - in addition, they are modifying and extending many loans. How do you monitor their credit quality to avoid Taleb's Turkey?
Great article, thanks!
How would you rate the rest of the management team? (CFO, CLO, etc.) At first glance, they don't seem to have the same tenure and seniority as Gleason.
Thanks! It is a good question. I did get some references on Brannon Hamblen, the President and George's right hand. He refers well. I did not specifically vet other members of the mgmt. team, but former employees all point out that there is a strong performance culture and George invests a lot of energy in trying to hire outstanding individuals. That being said, Key Man is one of the core risks in this investment, as you rightly point out. I got a lot of comfort that George intends to stay around for a very long time, but of course health issues could change that...