DONAHUE-SCHRIBER FINAL TRANSCRIPT
INTRO WITH MUSIC AND B-ROLL
LAWRENCE P CASEY
Donahue-Schriber is a pension owned real estate investment trust. Our focus is solely retail real estate on the west coast.
KEVIN JENNINGS
Specifically they specialize in neighborhood shopping centers.
LAWRENCE P CASEY
Bank of America has been a lender to the company since its inception. They’ve also provided us one off loans on properties as well as working capital lines of credit. They also provide treasury services to us. As the great recession came upon us in late 2008, in the beginning of 2009, we continued to see tenants having difficulty making their rent payments. I can remember the days that I would call Kevin and it was, “alright, well give us a couple of days to think about that and we’ll see what we can do.”
KEVIN JENNINGS
We’ve taken the lead in structuring their credit facility to help them weather the economic environment that we’ve been through in the last four years and they’ve positioned themselves in a very strong way to grow into the future. We’ve recently provided them with a loan to demolish about 80,000 square feet of a center to rebuild it and transform it into a more vibrant center.
LAWRENCE P CASEY
They saw what we were trying to do, they understand our business, they understood that it was going to improve the property. Kevin and his bank have a genuine interest in seeing the company succeed. That’s pretty indicative of the way Bank of America provides services to us.
KEVIN JENNINGS
We’re very focused on being advisors, not just providers of services, not just providers of capital.
LAWRENCE P CASEY
They stay close to us and probably can even sense that we’ll need something before we even voice that we need it.
END WITH BANK OF AMERIC MERRILL LYNCH VANITY PLATE