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.
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Hey GR,first penn sells pitt st and leases it back.Now penn...
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