bell potter research, page-2

Interesting.

I am looking at these at the moment and although very risky returns look potentially great. Mezzaine loans 30% discount to me sounds extremely negative. Although high LVR's are still under 90% , so potentially to lose out to this extent would require big asset price declines.

The real downside is if the banks come knocking and get aggressive in selling - is possible but how likely?

The upside is there too ,$30m cashflow generative this year (thats almost SP at the moment) , the companys Income (rent + CRE Income) is greater than expenses (Interest + opex)

The NTA is still >$1 atm. Or to lay out the numbers in whole - Assets $2,047m liabs $1,637m, nta $408m

the leases are long term to good tenants

the market is so bearish at the moment , most stocks are really cheap, why would anyone want to put their money here atm? People are too scared thats why, but at 12c even a realisation of 44c is 266% return. Downside is obviously 100% , but surely at current prices its a good risk/reward equation?