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    Steve Chick

    Research Analyst at Sebis Garden Capital LLP

    Steve Chick is an analyst at Sebis Garden Capital LLP specializing in equity analysis and investment research, with direct coverage of Modiv Industrial Inc. He has engaged with company earnings calls, leveraging in-depth sector knowledge to inform investment decisions, though comprehensive published performance metrics such as success rate or ranking on major platforms are not available. Chick’s professional background at Sebis Garden Capital LLP is current, but detailed history of previous firms, year of entry, and career progression remains undisclosed publicly. Information on his securities licenses, FINRA registration, and distinctive achievements is not documented in accessible sources.

    Steve Chick's questions to MODIV INDUSTRIAL (MDV) leadership

    Steve Chick's questions to MODIV INDUSTRIAL (MDV) leadership • Q3 2024

    Question

    Steve Chick asked for more detail on the tabled JV transaction, questioning why the counterparty would walk away from a deal that appeared to be materially accretive and beneficial for both sides.

    Answer

    CEO Aaron Halfacre clarified that the obstacle was a lack of certainty regarding the acquisition terms for the second half of the JV portfolio. While the initial tranche was accretive, he was unwilling to risk being forced into unfavorable terms on the remainder, especially in a volatile rate environment. He explained the counterparty, an institutional fund, desired a rapid closing that would have forced Modiv to sell core assets at a potentially inopportune time. Mr. Halfacre stressed that he chose to prioritize long-term value preservation and avoid 'existential risk' over closing a deal simply to gain size.

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