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The Power and Profitability of Workforce Housing

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By William Moore, AIA
President, Portmanteau Partners, LLC

Workforce is a powerful word and something that companies and entire industries depend upon for their success and survival. Without a happy and highly functioning workforce, businesses would fail, and entire communities would collapse.

Because housing has become exponentially expensive, with no relief on the horizon, employers are increasingly searching for ways to leverage the power of their businesses to create housing at a rate that is attainable to their respective workforces. Increasingly, it’s critical for competitive companies and industry leaders to do all they can to provide their workforces with outstanding working conditions, including, a comfortable and affordable way of life.

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Nothing speaks more to a person’s contentment than having a place to call home. A relaxing and secure place to live is the foundation of anyone’s wellbeing. Companies that are attentive to this need and able and willing to provide conveniently located housing to their workers, will undoubtedly build a more efficient workforce leading to business stability, greater profits and a competitive edge.

Here are some of the important and sometimes mandatory considerations when it comes to designing and building quality workforce housing:

Design

It’s important to have an idea about what specific ‘work force’ the project will be serving. In the case of a corporate client, there is usually very specific information detailing the type of personnel they need to serve, as well as their income levels, familial status, lifestyles and personal needs.

For example, a multi-family project serving ski resort workers may be designed for a predominately 20–40-year-old, single-household demographic, whereas an agricultural or manufacturing facility may have more families with children. This demographic also determines the optimal site selection as it relates to recreation, religious centers, day-care, schools and other personal needs and conveniences.

Additionally, the target demographic would determine the unit mix of the project. For example, the family group would require more two and three-bedroom units whereas younger singles would be content with studios and one-bedroom units. The developer and partners also generally plan to hold the project for a longer period of time with operating expenses that may or may not be shouldered by the residents. This sets up a design challenge that is often different that traditional multi-family apartments projects where materials, equipment and energy-use decisions take on a heightened meaning.

Sensitivity and thoughtfulness around the community design is essential for the success of the project, as well. The recommendation is that the communities live on their own, with onsite or nearby amenities, design variation and aesthetic appeal. Commercial identity and branding associated with the company sponsor is eliminated, to avoid any feel of the historical, ‘company town’. The community as an autonomous, desirable ‘place’ supports the real estate value, and longevity of the project.

Municipal and Commercial Participation

The Developer has a different primary stakeholder in this equation compared to traditional multi-family projects, providing a unique and incredible financial opportunity. Whether a municipal or industrial ‘partner’, the values of this new stakeholder are complementary to the Developer and are a welcome addition to the project equation. This new stakeholder also has a longer view of the outcome, desiring utility and service for decades, post-completion. A typical speculative project, in contrast, is required to meet a one-dimensional pro-forma with the singular goal of serving the highest-paying resident and doing so as efficiently as possible (i.e.; as low as possible up-front cost). Both the developer and the equity investor of the typical spec’ multi-family project are often seeking to retire their position as quickly as possible.

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With the workforce project, often the industrial partner desires to control the project for as long as possible, gaining confidence in the knowledge of the quantity and status of housing it will have available, as the business needs grow.

What is compelling is that the demand side of the equation is also a participant in the financing component. The end user and their long-term goals are part of the industrial partner’s business model. Numerous avenues exist for these municipal and industrial partners to participate, and earn a favorable return on their investment, including:

1. Providing equity or lower-interest mezzanine loans,
2. Bringing some or all of the demand via various avenues such as

a. Providing a rent credit to the employee for the subject property.
b. Directing employees to the project leasing agent.
c. Providing a rent guaranty to the Developer to assist in achieving favorable financing terms, in turn, lowering costs.

By supporting the financing of the project, employers generate a monetary (cash-on-cash) as well as a long-term growth return on their investment. Industrial and municipal investors gain the following:

1. Control of available housing for their employees.
2. Certainty of the quantity and types (for sale, for-rent) and program ie;2 bedroom, 3 bedroom units, etc.
3. Certainty of the cost of housing at present and into the future.
4. Monetary return on the investment through cash-flows and/or at disposition.

Many decisions about workforce housing will depend on site selection, unit mix, rental and sales rates.

As an Investment

The investor who would realize the highest value in workforce housing is a company or municipality that will derive an economic benefit from a happy, stable and secure workforce. The investment will boost the company or municipality value, while simultaneously creating a measurable economic return on the monetary investment over time.

As suggested above, workforce housing is a longer-term investment and generally not designed for an immediate exit, although in certain environments (physical and monetary), it could be possible to sell the asset or position after stabilization.

Additional Considerations

It should be noted that large employers have some leverage with municipalities and can assist in securing things such as development impact fee reductions or offsets, utility connection cost reductions and assistance with infrastructure engineering and costs

Developers can operate a single, or multiple employers’ projects in a fund across several markets they may be operating in, creating a larger entity to create even further cost reductions in financing, administration, and execution costs. This format also renders the asset pool to be more stable and flexible as market performance fluctuates over time.

A content workforce is good for any company’s bottom line and few things contribute to this more than providing a happy place to call home.

William Moore, AIA, is President of Portmanteau Partners (www.portmanteaupartners.com), a firm specializing in the design and development of workforce housing. The firm is currently working on the $40 million workforce housing project for meatpacking giant Cargill, Inc. in Fort Morgan, Colorado. He can be reached at [email protected] or (720) 436-5713

Downtown San Antonio’s Tallest Residential High Rise, 300 Main, Welcomes First Residents and is Now Open for Walk-in Tours

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Weston Urban’s 300 Main is one of several projects bringing new energy to the Center City

Submitted by Paul Suter

Downtown San Antonio is achieving new heights with the opening of the city’s tallest residential tower, 300 Main ( https://live300main.com/). At 32-stories, the high-rise was developed by Weston Urban and is a dramatic new addition to the San Antonio skyline with sweeping views of the metro area. The opening of the tower is being celebrated by its first residents who began moving in at the end of August. The property is now also available for tours to people who are interested in seeing the building and learning more about leasing options.

Located at the corner of North Main Avenue and East Travis Street, 300 Main was intentionally designed to reflect the rich history and culture of San Antonio, with a strong focus on local artwork and thoughtfully curated interiors. Some of the outstanding features include a Sky Lounge on the 25th-floor with unobstructed views of San Antonio, custom artistic creations by local artists including Oscar Alvarado and Lionel Sosa, a 7th floor indoor and outdoor amenity space with media and game lounges, a guest suite, and an entertainment kitchen.

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Beyond the outstanding architecture, construction and design, 300 Main will also provide residents with exceptional amenities and services. For example, residents of 300 Main will enjoy 40,000 square feet of amenity spaces that will include coworking lounges with private study pods and conference rooms, where they can work comfortably and remotely in a professional setting. The fitness center, both indoors and outdoors, is fully equipped with Pelotons, Stairmasters, a dedicated yoga room, a BeaverFit Shred Shed, and more.

When they’re not busy at work or focusing on their physical fitness, a 7th floor pool deck with lounging areas, private cabanas, lawn games, and an entertainment kitchen, will provide residents with a great place to relax and socialize.

300 Main is the latest Weston Urban project to contribute to the density and diversity of downtown. The development, leasing and lending real estate firm has helped to create and define the San Antonio skyline through both thoughtful historic redevelopment and strategic ground-up construction. Some of the company’s other downtown projects include Frost Tower, Legacy Park, and the Rand and Milam buildings

“Our mission has always been to help build the city our kids want to call home and 300 Main and the other projects we’re celebrating today are important steps in that effort,” said Randy Smith, co- founder and CEO of Weston Urban. “It’s very exciting to welcome our first residents to 300 Main. Downtown is alive with activity and rich history, but a high-rise living experience in our city’s beautiful core is something our community has waited 300 years for. Now there is an option to live in a beautiful home and be able to walk to work, groceries, great restaurants, wonderful parks, and enjoy a truly vibrant urban lifestyle.”

The general contractor for 300 Main is Rogers-O’Brien Construction with the design provided by Page. Bridge Investment Group and Bank OZK provided financing for the project.

ABOUT WESTON URBAN

Weston Urban began as an effort to attract and retain San Antonio’s new generation of talent. Since its founding in 2012, it has broadened its mission to encompass reviving the city’s center. By collaborating with partners and strategically leveraging resources, Weston Urban works to create downtown spaces where serendipity is possible. Weston Urban focuses on three primary services: Development, Leasing, and Lending. To learn more, visit https://westonurban.com/.

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Project Details
300 Main
• Developer: Weston Urban
• Address: 300 North Main Ave., San Antonio, TX 78205
• 32-story residential tower
• 354-unit Class AA multifamily development
• 327,194 square feet net residential rental area
• Average unit is 924 square feet
• Six-level parking garage with approximately 457 spaces
• 6,275 square feet of retail space
• Contractor: Rogers-O’Brien Construction
• Design: Page
• Financing: Bridge Investment Group and Bank OZK

The Broadleaf Mixed-Use Residential Development Now Open at Fitzsimons Village

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Submitted by Paul Suter

Located across Colfax from the Anschutz Medical Campus, the new development will include 370 residential apartments and ground-floor retail anchored by Queen City Collective Coffee

Aurora, CO (September 2024) – The development team of Uplands Real Estate Partners, The Max Collaborative, and Wynne Yasmer Real Estate (the same group behind the development of One River North) is pleased to announce the opening of The Broadleaf, a mixed-use residential development located within Fitzsimons Village, across from the Anschutz Medical Campus. The development includes 370 apartments and more than 9,000 square feet of ground-floor retail space lining the boulevard within the master-planned Village. Queen City Collective Coffee has signed on to operate a café space integrated within the residential lobby. Davis Partnership Architects is the architect for the project and JE Dunn is the general contractor. Kairoi Residential has been chosen to be the property manager.

The Broadleaf marks the second project opening this year for the development team in the greater Denver market. The partnership recently opened the iconic One River North project, a residential high rise in Denver’s River North Arts District (RiNo), which has garnered national attention for its unique architecture with a “canyon” traveling through its facade. Uplands Real Estate Partners and The Max Collaborative were both founded by members of the Ratner family, the founding family of Forest City Realty Trust, which led the transformative redevelopment of Denver’s old Stapleton International Airport. Wynne Yasmer Real Estate is a Denver-based developer whose principals, Brian Wynne and K.C. Yasmer, are both former Forest City executives.

“We’re thrilled to bring a boutique residential building with top-of-market amenities to the professionals who work and study at the Anschutz Medical Campus,” said Josh Hoffman, a principal with Uplands. “The medical campus is home to approximately 25,000 employees and more than 4,000 students, with a total of 55,000 people expected to be working or studying at the campus at full buildout. The Broadleaf will provide residents with a level of quality, design, and amenities not yet offered in proximity to the campus.”

The Broadleaf is located four blocks from the Colfax Light Rail Station, providing future residents with direct access to downtown Denver, Denver International Airport, and the southeast business corridor. The development features a robust amenity package including the only rooftop pool in the area with dramatic views of the mountain range, a state-of-the-art indoor / outdoor fitness center, coworking spaces, a pet spa, bike storage with workshop, a boutique coffee shop, and secure garage parking. A half-acre outdoor courtyard will provide an urban oasis with grills, picnic tables, lounge seating, lush landscaping, and outdoor lawns for yoga and exercise.

At seven stories, The Broadleaf is the tallest residential building in the submarket. It is the only residential building in the submarket constructed from light-gauge steel, providing superior acoustics and less sound between residences. The meticulously designed residences feature best-in-class finishes and offer one-, two- and three-bedroom apartments ranging in size from 500 square feet to 1,600 square feet.

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The Broadleaf will offer second to none lifestyle amenities through vendor partnerships and the Kairoi Art of Neighboring. The community is also focused on a wellness theme.

Colorado Christian University Nearing Culmination of $170 million of New Facility Construction, with Another $45 million on the Horizon

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The Christ-centered University is a leader in higher education, ranked in the top two percent of colleges nationally for its core curriculum

Yetter Hall

Colorado Christian University (CCU) – ranked in the top two percent of colleges nationwide for its core curriculum and named one of the fastest-growing universities in the United States – is continuing to meet and exceed the needs of its student body with the culmination of $170 million worth of new facility construction nearing completion. The five facilities include Leprino Hall (an academic building named for Terry Leprino), Yetter and Rockmont Halls (apartment-style residence halls named for former University President Archie Yetter and a heritage institution), the Anschutz Student Center (named for Philip Anschutz), and the soon-to-be-completed Armstrong Center (named for former Colorado State Senator and past CCU President Bill Armstrong).

Leprino Hall
Rockmont Hall 1
Anschutz Student Center

The newest addition to the campus, the Armstrong Center, continues to highlight CCU as a world-class training ground for future business, church, and world leaders. The 60,000 square-foot, state-of-the-art facility will allow the school of music to return to CCU’s main campus, house an expanded library, feature a 500-seat performance theater, and will be home to the University’s first dedicated chapel.

Armstrong Exterior Rendering Front Entrance
Armstrong Exterior Chapel Rendering

In addition to the new additions to the Rocky Mountain Region’s flagship Christian university, another $45 million worth of new construction is anticipated in the coming years. The projects will include a new science and engineering building and new athletic facilities.

“Colorado Christian University is providing an alternative to ‘elite’ colleges and universities, especially as we continue to attract students and families who want to become part of a university that stresses leadership and innovation ahead of social agendas and ‘groupthink,’” said CCU President Eric Hogue. “Our new facilities provide our student body and staff with a campus that not only helps them to achieve their personal and professional goals, but equips them to impact the world with grace, truth and moral clarity. A majority of Americans say that higher education is failing students, not developing them. CCU is the alternative to that opinion.”

Founded in 1914, Colorado Christian University is the flagship Christian university in the Rocky Mountain region.

More information about Colorado Christian University is available at www.ccu.edu.

Media contact: Paul Suter, Suter Media Relations

720-771-9093 or [email protected]

The Broadleaf mixed-use residential development opening at Fitzsimons Village

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Located across Colfax from the Anschutz Medical Campus, the new development will include 370 residential apartments and ground-floor retail anchored by Queen City Collective Coffee

Aurora, CO (June 2024) – The development team of Uplands Real Estate Partners, The Max Collaborative, and Wynne Yasmer Real Estate (the same group behind the development of One River North) is pleased to announce the opening of The Broadleaf, a mixed-use residential development located within Fitzsimons Village, across from the Anschutz Medical Campus. The development includes 370 apartments and more than 9,000 square feet of ground-floor retail space lining the boulevard within the master-planned Village. Queen City Collective Coffee has signed on to operate a café space integrated within the residential lobby. Davis Partnership Architects is the architect for the project and JE Dunn is the general contractor. Kairoi Residential has been chosen to be the property manager.

article continues after advertisement

The Broadleaf marks the second project opening this year for the development team in the greater Denver market. The partnership recently opened the iconic One River North project, a residential high rise in Denver’s River North Arts District (RiNo), which has garnered national attention for its unique architecture with a “canyon” traveling through its facade. Uplands Real Estate Partners and The Max Collaborative were both founded by members of the Ratner family, the founding family of Forest City Realty Trust, which led the transformative redevelopment of Denver’s old Stapleton International Airport. Wynne Yasmer Real Estate is a Denver-based developer whose principals, Brian Wynne and K.C. Yasmer, are both former Forest City executives.

“We’re thrilled to bring a boutique residential building with top-of-market amenities to the professionals who work and study at the Anschutz Medical Campus,” said Josh Hoffman, a principal with Uplands. “The medical campus is home to approximately 25,000 employees and more than 4,000 students, with a total of 55,000 people expected to be working or studying at the campus at full buildout. The Broadleaf will provide residents with a level of quality, design, and amenities not yet offered in proximity to the campus.”

The Broadleaf is located four blocks from the Colfax Light Rail Station, providing future residents with direct access to downtown Denver, Denver International Airport, and the southeast business corridor. The development features a robust amenity package including the only rooftop pool in the area with dramatic views of the mountain range, a state-of-the-art indoor / outdoor fitness center, coworking spaces, a pet spa, bike storage with workshop, a boutique coffee shop, and secure garage parking. A half-acre outdoor courtyard will provide an urban oasis with grills, picnic tables, lounge seating, lush landscaping, and outdoor lawns for yoga and exercise.

article continues after advertisement

At seven stories, The Broadleaf is the tallest residential building in the submarket. It is the only residential building in the submarket constructed from light-gauge steel, providing superior acoustics and less sound between residences. The meticulously designed residences feature best-in-class finishes and offer one-, two- and three-bedroom apartments ranging in size from 500 square feet to 1,600 square feet.

Media Contact: Paul Suter, Suter Media Relations

720-771-9093 or [email protected]

New Office Building in Cherry Creek Breaks Ground

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“Hospitality-infused” office building at 2nd & Adams in Cherry Creek predicted to be 70 percent leased at the start of construction

Cherry Creek North, CO (May 2024) – Magnetic Capital is proud to announce the groundbreaking ceremony (please see invitation in email for details) for Cherry Creek’s newest office building, located at 2nd & Adams. The 100,000 square foot, “hospitality-infused” building is expected to be 70 percent leased at the start of construction, including a 30,000 square foot lease to Bow River Capital.

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“We’re very excited to announce the start of construction for 2nd & Adams, and provide our tenants with an office building that is designed and configured with the ultimate in hospitality in mind,” said Chris Carroll of Magnetic Capital. “Cherry Creek represents a ‘flight to quality’ among businesses that want a safe, friendly and first-class location where their employees can live, work and play. While downtown Denver continues to struggle with office vacancies, Cherry Creek has experienced 65 percent rent growth since Covid and a steady influx of new office and retail tenants, as well as residents filling existing and new multifamily communities.”

Bow River Capital, a Denver-based private alternative asset manager, will locate the company’s new headquarters at 2nd & Adams and become the building’s anchor tenant.

“We’re thrilled to be moving Bow River’s headquarters to 2nd & Adams and to be the first of many companies that will enjoy the building’s forward-thinking design,” said Bow River Capital Chief Operating Officer Jane Ingalls. “We were drawn to the focus on hospitality and elevated common areas that 2nd & Adams will provide to our team and guests.”

Construction of the mixed-use office development is scheduled for completion in the third quarter of 2025. The project will include approximately 80,000 square feet of office space and 20,000 square feet of retail. The development team is focused on what it calls a “hospitality-infused office operating model” with a heavy emphasis on food and beverage and the broader activation of common areas. The project will have multiple food and beverage and retail concepts across the ground floor and the rooftop will feature a 5,600 square foot bar and restaurant, anchored by best-in-class national operators.

OZ Architecture is the architect for the project and Mortenson Construction is the general contractor. OZ Architecture recently released an article on the project here. Blake Holcomb at CBRE is handling office leasing and can be reached here.

More information about 2nd & Adams is available at https://secondandadams.cbre-properties.com/

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Cherry Creek North Dynamics: Cherry Creek North’s unique concentration of high-end retail, executive housing, luxury multifamily, and premium hotels, all within a 16-block radius, positions it among the top office markets in the US today. With a vacancy rate of sub-2% and physical occupancy at ~95%, Cherry Creek contains fundamentals comparable to Sand Hill Road, Beverly Hills, and Century City. More information regarding Cherry Creek North is available at www.cherrycreeknorth.com.

About Magnetic Capital
Magnetic Capital, led by Dan Huml and Chris Carroll, is a privately held real estate investment and development company focused on developing and operating real estate assets often overlooked or undervalued by traditional investment firms. Headquartered in Denver, Colorado, Magnetic Capital is focused on development and multifamily acquisitions opportunities along the Front Range.

For more information on Magnetic Capital, please visit https://magneticcap.com/.

About Bow River Capital
Bow River Capital is a private alternative asset manager based in Denver, Colorado, focused on investing in the lower and middle market in four asset classes: private credit, private equity, real estate, and software growth equity. Through its subsidiary Bow River Advisers, LLC, Bow River Capital also offers a registered, closed-end mutual fund – Bow River Capital Evergreen Fund (EVERX) – designed to provide institutional-quality private market access to a broader set of investors. Collectively, the Bow River Capital team has deployed capital into diverse industries, asset classes and across the capital structure.

Bow River Capital Evergreen Fund is distributed by Foreside Financial Services, LLC, which is not affiliated with Bow River Capital or its affiliates.

For more information on Bow River Capital, please visit www.BowRiverCapital.com.

Media Contact: Paul Suter, Suter Media Relations

720-771-9093 or [email protected]

Magnetic Capital Announces Bow River Capital Lease Signing at 2nd & Adams in Cherry Creek

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Bow River Capital signs 30,000 square foot lease in new office building
featuring a “hospitality-infused” operating model

Cherry Creek North, CO (January 18, 2024) – Magnetic Capital has announced the first office lease signing for the new 2nd & Adams office building in Cherry Creek. Bow River Capital, a Denver-based private alternative asset manager, signed a lease for 30,000 square feet, which will serve as the company’s new headquarters.

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“We are excited and honored to have Bow River Capital as an anchor office tenant at 2nd & Adams,” said Magnetic Capital Managing Partner, Chris Carroll. “They are a highly regarded investment firm with a talented team, and we look forward to welcoming them to the building.”

“We’re thrilled to be moving Bow River’s headquarters to 2nd & Adams and to be the first of many companies that will enjoy the building’s forward-thinking design,” said Bow River Capital Chief Operating Officer Jane Ingalls. “We were drawn to the focus on hospitality and elevated common areas that 2nd & Adams will provide to our team and guests.”

Construction of the 100,000 square foot mixed-use office development will begin in April 2024 with delivery scheduled for the third quarter of 2025. The project will include approximately 80,000 square feet of office space and 20,000 square feet of retail. The development team is focused on what it calls a “hospitality-infused office operating model”, with a heavy emphasis on food and beverage and the broader activation of common areas. The project will have multiple food and beverage and retail concepts across the ground floor, and the rooftop will feature a 5,600 square foot bar and restaurant, anchored by best-in-class national operators. More information about 2nd & Adams is available at https://secondandadams.cbre-properties.com/

OZ Architecture is the architect for the project, and Mortenson Construction is the general contractor. OZ Architecture recently released an article on the project here. Blake Holcomb at CBRE is handling office leasing and can be reached here.

article continues after advertisement

Cherry Creek North Dynamics: Cherry Creek North’s unique concentration of high-end retail, executive housing, luxury multifamily, and premium hotels, all within a 16-block radius, positions it among the top office markets in the U.S. today. With a vacancy rate of sub-2% and physical occupancy at ~95%, Cherry Creek contains fundamentals comparable to Sand Hill Road, Beverly Hills, and Century City. More information regarding Cherry Creek North is available at www.cherrycreeknorth.com.

About Magnetic Capital

Magnetic Capital, led by Dan Huml and Chris Carroll, is a privately held real estate investment and development company focused on developing and operating real estate assets often overlooked or undervalued by traditional investment firms. Headquartered in Denver, Colorado, Magnetic Capital is focused on development and multifamily acquisitions opportunities along the Front Range.

For more information on Magnetic Capital, please visit https://magneticcap.com/.

About Bow River Capital

Bow River Capital is a private alternative asset manager based in Denver, Colorado, focused on investing in the lower and middle market in four asset classes: private credit, private equity, real estate, and software growth equity. Through its subsidiary Bow River Advisers, LLC, Bow River Capital also offers a registered, closed-end mutual fund – Bow River Capital Evergreen Fund (EVERX) – designed to provide institutional-quality private market access to a broader set of investors. Collectively, the Bow River Capital team has deployed capital into diverse industries, asset classes and across the capital structure.

Bow River Capital Evergreen Fund is distributed by Foreside Financial Services, LLC, which is not affiliated with Bow River Capital or its affiliates.

For more information on Bow River Capital, please visit www.BowRiverCapital.com.

Media Contact: Paul Suter, Suter Media Relations
720-771-9093 or [email protected]

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Evermore Partners Acquires Second Flex/Office Property in Boulder

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Boulder, CO (October 11, 2022) – Evermore Partners (Evermore), a real estate investment company focusing on high-impact, value creation activities, has announced the company’s purchase of 6707 Winchester Circle, a 33,296 SF office/flex building proximate to its acquisition of another property in Boulder earlier in 2022.

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“The acquisition of this property is another great step for our company and its acquisition goals,” said Founder and CEO Seth Wolkov. As long-term believers in the Boulder area, we’re confident that this type of product will have enduring demand and relevancy. The combination of modern office layout, recently built out life-science lab space, and dock-door equipped distribution space will appeal to many types of tenants over time and provide good downside protection.”

The Evermore team has acquired over $1 billion worth of assets through multiple economic cycles, in all product types, and has specific experience with value-add and distressed and opportunistic investing. Evermore’s goal of acquiring a $250 million real estate portfolio in the Rocky Mountain Region within five years will be accomplished with assets sized between $5 million and $50 million across five key product types located within urban, college and core mountain communities.

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Evermore focuses on markets located at the intersection of “Eds, Meds and Technology” that continue to experience above average net migration, wage and employment growth, helping to drive investment returns. The company seeks double-digit total returns generated from a combination of current cash yield and capital appreciation.

More information regarding Evermore Partners is available at https://evermore-partners.com/

Media contact:  Paul Suter, Suter Media Relations,

720-771-9093 or [email protected]