Hey GR,first penn sells pitt st and leases it back.Now penn sells a data centre and leases it back and is responsible for various future expenses. Total proceeds from both sales 700m plus. This will obviously increase total costs,but i thought some time back penn made it clear he would sell $2b of non productive assets. As posted when u lease them back they r not non productive assets. This is y i have lost so much confidence in tls management and sold out. I want tls in my portfolio but with announcements like this i'm glad its not. Does penn need the money?money is going to b cheap for a long time.How much rent is he paying for both data centres and pitt st ,i guess it would b more than interest rates. As posted imo only penns announcements make no sense.
TLS Price at posting:
$3.48 Sentiment: None Disclosure: Not Held
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