04-11-2015, 01:44 PM
(04-11-2015, 01:38 PM)corydorus Wrote:(04-11-2015, 11:40 AM)piggo Wrote: Actually 3.4% above NAV isn't much of a premium. Apart from the fire sales back during the financial crisis, Saizen's property sales have always been >10% above valuation... That being said, considering the mindset of shareholders and the prospect of unlocking "value", odds of it going through should be quite high.
Should be an easy minimum 10% profit for Lone Star fund just from taking the portfolio apart and selling it off one by one.
If that is the case, why don't saizen mgmt tear their own reit apart ? Doesn't make sense to sell them and lose 10% profit to be gain right ?
They've divested 6 properties since 2012, potentially more if this doesn't go through... this route is just a short cut at a potential cost of 10 - 25%.