2020 has been a year like no other. Like many other companies, we have faced several challenges and learned to adapt to change quickly. With these challenges also came growth. Here are the top 10 things to happen at Metonic this year:
#1: 17 Refinances
Our finance team has been extremely busy this year, completing the refinance of 17 commercial and multifamily properties within the Metonic portfolio at a weighted average interest rate of 3.17%. The refinances resulted in a total of $27 million distributed to partners.
#2: Three Acquisitions
We are very excited about the new properties we’ve added to our portfolio this year: Jasper Place, West Briar Commons, and Fairlane at Aksarben.These properties total 337 apartment homes in 3 states: Nebraska, Iowa, and South Dakota.
#3: Two Developments
APOGEE was hard at work this year, developing two new properties, Onyx at Aksarben and Latitude 41. Between the two properties, Metonic added 354 new apartment homes to the multifamily portfolio. Between acquisitions and developments, 691 new apartment homes have been added to Metonic’s multifamily portfolio in 2020!
#4: First Responder & GrubHub Campaigns
The Metonic marketing team ran two very successful campaigns this year: one focusing on residents and one focusing on first responders. The First Responders campaign entailed delivering food to nurses, hospital workers, and firefighters around Omaha. Nearly 300 meals were delivered in the month of April!
The GrubHub Campaign was a great incentive to new and existing residents at our multifamily properties. Upon signing or renewing their lease, tenants received a GrubHub gift card between $100-$500. A total of 1,338 tenants took advantage of this campaign! Thank you to Seldin Company for partnering with us!
#5: Diversity & Inclusivity Committee Formed
This year, the Metonic and APOGEE teams formed a Diversity & Inclusivity Committee. The committee consists of a group of 4 team members tasked with educating the rest of the team in the form of newsletters, lunch and learns, volunteer events, and educational materials. In 2020, the Diversity & Inclusivity Committee sent six newsletters, hosted two informative events, and attended a diversity conference hosted by the Greater Omaha Chamber of Commerce. We look forward to doing more in 2021!
#7: Over 100k Sq Ft Commercial Leases Signed
Metonic’s commercial portfolio consists of 13 commercial properties. Between these properties, 106,000 square feet of leases were signed or renewed in 2020! Thank you to OMNE, CBRE in St. Louis and Indianapolis, Bradford Allen, and Ferguson for your partnership and hard work on our commercial leasing!
#8: $37.6M Investor Distributions
With the hard work of the finance team closing refinances, in addition to the spectacular performance by the asset managers and teams at each property, we were able to provide our investors a total of $37.6MM in distributions!
#9: We moved!
In the midst of craziness, we moved! Our new office resides in Westwood Plaza at 120th and Center! Our new space is 4,973 sq. ft. and consists of two spacious conference rooms, a break room with a kitchenette, in addition to a plethora of private offices and cubicle space!
#10: Gained 5 New Team Members!
In 2020 we gained two new team members to the Metonic Investor Relations Team, Josh White (VP Investor Relations), and Jenna Herrick (Business Development Associate). Nick Jacka (Associate Project Manager) joined the APOGEE team. We also had two future Metonic/APOGEE fans come into the world! Nicole Anderson and her husband, Jon, welcomed a baby boy, Tommy, in September and Zac Leith and his wife, Sarah, welcomed a baby girl, Scout, in June!
Bonus #11: We’re all healthy!
Amidst the craziness, we are happy to report we’re all healthy and doing well. We hope you and yours are safe and healthy. Thank you to all of our partners who supported us in 2020. Wishing you happy holidays and a prosperous 2021!
– Metonic Team