Well said.
To sell an asset above book value, hats off. The Fund Manager is clearly doing a good job.
If they sub lease 10 Valentine as its now A Grade given the 20m CAPEX then they could back towards a $120m valuation. At lower cap rates it was valued at $147m. Today it is only $95m. Don't forget it has optionality with BTR
NTA could actually lift then towards $1.90.
It is rare to find asymmetric opportunities and this is one for the patient.
Only 3 assets now left to be sold.
+51% upside to $1.90 if lease 10 Valentine, otherwise sell all assets now and get $1.75 +39% return.
Selling here one is mad.
Ann: Sale of 150 Charlotte Street Brisbane, page-3
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Last
$1.22 |
Change
0.015(1.24%) |
Mkt cap ! $200.5M | |||
| Open | High | Low | Value | Volume |
| $1.21 | $1.23 | $1.21 | $88.71K | 72.99K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 13519 | $1.22 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.23 | 10595 | 1 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| AOF (ASX) Chart |