The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Connor Serge Siversky - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Going to dig a little deeper for some of these questions here, but maybe just to start on the development pipeline with the about $24 million
remaining for the projects in motion. Is it reasonable to assume that the cost per square foot is essentially even across those projects for modeling
purposes?
Question: Connor Serge Siversky - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Right.
Question: Connor Serge Siversky - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Okay. So Boston will probably see the highest hit in terms of price per square foot?
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AUGUST 03, 2022 / 1:00PM, PLYM.N - Q2 2022 Plymouth Industrial REIT Inc Earnings Call
Question: Connor Serge Siversky - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: And then in terms of the -- in terms of the NOI yields within the range of 7% and 9%, does the same thing apply? I mean is Boston getting the 9%
versus Atlanta, Cincinnati down near the 7s or other way around?
Question: Connor Serge Siversky - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Okay. And then just jumping back to early 2023 with the option to redeem those preferreds. I mean, in slowing down the acquisition pipeline and
being somewhat conservative with development prospects, is there an element of this where you're freeing up capital such that you won't have
to use the revolver to take down that preferred, it just gives you another option to get rid of that overhang?
Question: Connor Serge Siversky - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Okay. And is the goal to take out the entire instrument.
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