Those centres might not be A grade but they are profitable and making $1.56m EBIT and they sold it for $6.4m.
Would you buy an investment which is returning close to 25% yoy?
I would jump on that opportunity right away and I'll be thinking the seller must be a dumb a** for selling it at that price. That seller is our management team.
And the rational behind the sale was to improve the portfolio's overall occupancy and "optimising" performance of WA.
As a business owner, the bottom line is our profit has decreased by $1.56m in exchange for $6.4m.
GEM Price at posting:
$2.09 Sentiment: Hold Disclosure: Held
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