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
Add AOF (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.31 |
Change
0.010(0.77%) |
Mkt cap ! $214.5M | |||
| Open | High | Low | Value | Volume |
| $1.30 | $1.32 | $1.29 | $136.1K | 105.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 60000 | $1.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.33 | 750 | 1 |
View Market Depth
| Last trade - 15.45pm 05/07/2024 (20 minute delay) ? |
| AOF (ASX) Chart |