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Business Wire
3 days ago
- Business
- Business Wire
Kay Properties Presents the Importance of Diversification to Over 150 Investors During Annual Kay Investor Day
LOS ANGELES--(BUSINESS WIRE)--Dwight Kay, Founder and CEO of Kay Properties & Investments, recently addressed over 150 accredited investors, emphasizing the critical importance of having access to a broad range of Delaware Statutory Trust (DST) and 721 UPREIT offerings. Kay outlined the value of diversification and the need for investors to explore multiple exchange opportunities to make informed decisions during this year's Kay Investor Day investor conference. 'We believe it is essential for investors to have access to a variety of options and our proprietary DST and 721 UPREIT due diligence when considering any 1031 exchange DST or 721 UPREIT offering,' said Dwight Kay. 'Being able to compare different sponsors, evaluate track records, and review the potential benefits and risks of various offerings is key to making sound investment choices.' This belief led to the creation of the Kay Properties online marketplace, a platform designed to connect accredited investors with more than 40 DST and 721 UPREIT real estate investment opportunities from more than 25 DST and REIT sponsor companies. This industry leading platform allows investors to evaluate options in one centralized location while also providing investors access to proprietary due diligence materials, including Private Placement Memorandums (PPMs), appraisals, environmental reports, sponsor track records, model stress tests, and more. 'The success of our platform is due to the transparency it offers,' noted Dwight Kay. 'Investors can access detailed reports and make comparisons across a variety of offerings to help them make the right decisions.' The Kay Properties marketplace has been incredibly successful at helping investors complete more than 9,000 individual DST and 721 UPREIT transactions. A big part of the online marketplace's success stems from the platform's ease of use and effectiveness at helping investors from across the nation gain easy access to a wide range of real estate investments. The platform allows users to review business plans, debt structures, and sponsor company histories, offering a comprehensive view of the market. As one of the Delaware Statutory Trust national experts, Kay's presentation drew wide investor engagement, with attendees traveling from across the country to actively participate in the day's events and presentations. Kay shared insights from his nearly two-decade career in the DST and UPREIT space, recalling his early days as an analyst where he recognized a gap in the market. Many investors were relying on financial advisors with limited real estate experience to guide them through 1031 exchanges, often with only one option being presented. 'We wanted to change that,' continued Kay. 'Investors need to have access to a wide range of choices, and our platform allows them to see what's available, both on and off-market, and evaluate options that potentially match their investment goals and risk tolerance.' Kay further discussed the ongoing efforts of his internal due diligence team, which reviews and evaluates DST and 721 UPREIT offerings before they are presented to investors via the Kay Properties online marketplace. This detailed due diligence process helps investors understand the potential benefits as well as the potential risks of DST and 721 UPREITs, enhancing their ability to make informed decisions. 'We've built a process that focuses on the potential benefits but also on educating investors about the risks involved. Transparency and education are essential for helping investors navigate this complex space,' said Kay. The discussion concluded with a reminder to attendees that all real estate investments, including DST and 721 UPREIT offerings, come with inherent risks. He encouraged investors to thoroughly read the PPMs, to consider the risks before committing to any investment, as well as to have their CPA and attorneys provide them with guidance regarding all tax, legal, and investment decisions. Kay Properties helps investors choose 1031 exchange investments that help them focus on what they truly love in life, whether that be their children, grandkids, other businesses, travel and hobbies (NO MORE 3 T's! Tenants, Toilets and Trash). We have helped 1031 exchange investors for nearly two decades exchange into over 9,100 - 1031 exchange investments. Please visit for access to our team's experience, educational library and our full 1031 exchange investment menu. Due diligence is an essential part of evaluating any investment, but it does not guarantee success or prevent losses. All investments carry inherent risks, and past performance cannot predict future results. This material is not tax or legal advice. Please consult your CPA/attorney for guidance. Past performance does not guarantee or indicate the likelihood of future results. Diversification does not guarantee returns and does not protect against loss. Potential cash flow, potential returns and potential appreciation are not guaranteed. There is a risk of loss of the entire investment principal. Please read the Private Placement Memorandum (PPM) for the offerings business plan and risk factors before investing. Securities are offered through FNEX Capital LLC, member FINRA, SIPC. For more information, please visit the Kay Properties and Investments website
STV News
28-05-2025
- Business
- STV News
Thousands to receive compensation over force-fitting of prepaid energy meters
Thousands of energy customers who had prepayment energy meters (PPMs) force-fitted are to receive compensation or have their debts written off, Ofgem has said. The regulator announced that eight companies will hand out compensation and support after a review into consumers struggling with energy bills who were forced to have pay-as-you-go meters installed. Scottish Power, EDF, Utility Warehouse, Good Energy, TruEnergy, and Ecotricity have all agreed to the scheme. Ofgem said suppliers have committed to pay both additional compensation where it is due, and in some cases write off some energy debt of customers who had an involuntary PPM installed during the assessment period of January 1, 2022, to January 31, 2023. Suppliers will pay £5.6m in compensation, using the guidelines set out by Ofgem, to 40,000 customers who had an involuntary PPM installed during the assessment period. Suppliers will also write off a further £13m of debt from customers who had an involuntary PPM during the assessment period. This comes on top of £55m of financial support provided directly to affected consumers by suppliers prior to the completion of the review in the form of hardship payments and debt write-off, the regulator said. Customers identified as having had a PPM wrongly installed or where processes were not followed adequately between January 1, 2022, and January 31, 2023, will be contacted by their suppliers, and do not need to take action. OVO has also confirmed it will pay compensation to customers in line with the guidelines developed by Ofgem. Tim Jarvis, director-general of markets for Ofgem, said: 'This has been one of the most detailed reviews of supplier practices in Ofgem's history, looking at tens of thousands of cases. It has taken time, but our priority has been to put things right for those who weren't treated properly, and ensure we don't see bad practice repeated. 'While the number of cases where a prepayment meter was wrongfully installed is relatively low compared to the total number of PPM customers, one case is one too many. 'Our review also found wider issues with the processes suppliers had in place, which is why we've put in place clearer, tougher rules to protect customers in vulnerable situations, and I'm pleased that from today suppliers will be applying our compensation framework for those customers affected and have also committed to further support such as debt write-off. 'We have made our expectations clear to suppliers on how those customers who were treated poorly should be compensated. They have, and continue to, work closely and collaboratively with us to make sure their processes are robust and that their customers are properly supported. 'We know that PPMs can be an effective tool in helping customers manage their costs and debt. However, customers must always be treated fairly and compassionately, and we are confident that the changes we have made are a significant step to ensure that happens.' Dhara Vyas, chief executive of Energy UK, which represents energy firms, said: 'Suppliers have worked hard to co-operate with this comprehensive review and taken further action to put things right in the cases where a prepayment meter (PPM) shouldn't have been installed – or where there was insufficient support for the customers concerned. 'Suppliers have been working closely with Ofgem to meet the requirements of its review and have signed up to the Code of Practice before they have been able to restart involuntary installations of PPMs and have carried out thorough testing of the new processes. 'Involuntary installations have been a last – but necessary – resort for cases where repeated attempts to address debt with the customer through other means have been unsuccessful. It's bad for customers to fall further and further into arrears, and bad debt ultimately drives up the prices that are paid by all customers. 'Since the pause on installations, customer debt has risen to a record £4 billion, and the industry remains keen to work with Ofgem on the proposed relief scheme to tackle this problem.' Energy secretary Ed Miliband said: 'Justice is finally being delivered to many of the families, lots of them vulnerable, who were affected by the scandal of energy suppliers wrongly forcibly installing prepayment meters. 'The Government has campaigned tirelessly on this issue and are pleased to see the level of compensation increase to £18.6m, up from £420,000 under the previous government. 'Consumers must come first, which is why we are reforming the energy market to stamp out bad practice and make it easier to access proper redress when things go wrong, through our comprehensive review of Ofgem. This increased compensation package is a good start, and we will be announcing further reforms in the weeks ahead as we deliver our Plan for Change.' The scandal first made headlines two years ago, at the peak of the cost-of-living crisis, when it came to light that energy companies were switching people on to prepayment methods. This was done by entering properties to install a smart meter or remotely changing a smart meter to prepayment mode. The energy regulator subsequently suspended all forced installations and launched a review of the process. It comes weeks after Good Energy was made to pay £150,000 in compensation and redress after it failed to give final bills and refund credit to more than 2,000 prepayment meter customers. Ofgem said 2,284 customers on prepayment meters were affected by an error with Good Energy's billing system between 2014 and October 2023. It meant that prepayment customers who switched to another supplier or ended their contract with Good Energy did not get a final bill within six weeks, as required by the watchdog. Good Energy paid out £150,067 as a result, with the average sum per customer standing at £66. Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
