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    Sumit Sharma

    Business Advisor at Scotiabank

    Sumit Sharma is a Business Advisor at Scotiabank specializing in strategic advisory services for corporate clients. He has developed a track record of success, evidenced by a 66.67% investment recommendation success rate and an average return of 17.87% on covered stocks. Sharma serves clients in the Toronto region and has earned recognition for his effective advisory approach, contributing to positive client outcomes. While specific professional credentials and prior career details are not widely published, his performance metrics reflect a strong proficiency in business and investment advisory within the banking sector.

    Sumit Sharma's questions to APARTMENT INVESTMENT & MANAGEMENT (AIV) leadership

    Sumit Sharma's questions to APARTMENT INVESTMENT & MANAGEMENT (AIV) leadership • Q4 2020

    Question

    Sumit Sharma asked about the drivers behind the high sequential expense growth in Los Angeles and questioned the strategy in the Bay Area, where AIR maintained higher average rents and saw lower declines than peers despite having lower occupancy.

    Answer

    CFO Paul Beldin attributed the L.A. expense increase to higher bad debt and costs associated with a long-standing property tax appeal. Keith Kimmel, President of Property Operations, explained the Bay Area strategy involves segmenting the portfolio, with San Jose and Marin County remaining stable. In the more stressed Peninsula market, the focus has been on resident retention, as renewals provide a significant premium over new leases. He affirmed that the company solves for total revenue, not just occupancy, balancing rates and resident retention.

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