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    Jordan Saddler

    Research Analyst at KeyBanc Capital Markets

    Jordan Saddler's questions to Marti Technologies (MRT) leadership

    Jordan Saddler's questions to Marti Technologies (MRT) leadership • Q3 2018

    Question

    Jordan Saddler inquired about the new tenant, Creative Solutions, asking for details on their financial standing, real estate ownership, and the underwriting process that provided comfort in the transition. He also sought clarity on the status of the company's dividend.

    Answer

    Chairman and CEO John McRoberts and Executive VP and CFO Jeff Walraven explained that Creative Solutions has a long, successful history in Texas, primarily leasing its skilled nursing facilities (SNFs) and owning some assisted living facilities. They highlighted the new tenant's scale, experience, and perfect rent payment history as key differentiators from OnPointe. Regarding the dividend, they clarified that the board has delayed a decision on the Q3 dividend until the Texas Ten transition is complete and rent payments commence in early 2019, emphasizing it is a delay, not a formal suspension.

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    Jordan Saddler's questions to Marti Technologies (MRT) leadership • Q3 2017

    Question

    Jordan Saddler of KeyBanc Capital Markets inquired about the GruenePointe portfolio, seeking details on its original underwriting, the relationship between GruenePointe and its manager OnPointe, the terms of the upcoming covenant waiver, and the company's confidence in meeting its $150 million full-year investment guidance.

    Answer

    CEO and Chairman John McRoberts explained that the GruenePointe deal was a change of operator from a family business. The original underwriting identified low-hanging fruit for improvement, though a regional manager's cost-cutting focus initially backfired. He affirmed OnPointe's vested interest through ownership, personal guarantees, and contingent consideration. Regarding the investment guidance, McRoberts and CFO Jeffery Walraven expressed confidence, noting that three specific transactions totaling $65 million were in the final stages.

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