Status Update on TA-Brookfield Condo Conversion Plan

Many tenants eager to see the TA-Brookfield condo conversion plan underway have inquired as to the status of our efforts.

We are continuing to work diligently with Brookfield to develop a plan to successfully acquire the property and execute a non-eviction condo conversion plan. Though many factors impacting timing and process are beyond our control, our partnership has been actively working on multiple fronts to ensure that we are in the strongest position possible to successfully reach a deal with CW Capital and implement our conversion plan. ST-PCV is a unique property in a unique situation; the process moving forward must take multiple factors and parties into account and has a high degree of complexity to it.

Our partnership needs to preserve the ability to be strategic, thoughtful and flexible in order to be successful. We are focused on working toward a more serious engagement with CW Capital and plan to provide a specific update on the status of those efforts over the next few months. In the meantime, we plan to continue to keep an open dialogue, continue gathering your feedback and input, and share as much information as possible with the community about our progress.

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