$2.95 - tell them they're dreaming.Centuria recently sold its...

$2.95 - tell them they're dreaming.

Centuria recently sold its Zenith office building in Chatswood to Starwood for a very good price. Starwood were idiots to let the AOF deal at $2.95 fall through last year for the sake of a distribution or two worth 1-2%. Now they have had to buy an asset on the open market and realise first hand how undervalued AOF was.

If AOF sold off all their assets in well marketed campaigns and returned the money to shareholders I reckon we'd get over $2.95. Valuations 6 months ago are well below market rate given interest rate falls since. If AOF take the cash and use it to buy other assets good luck trying to replace these assets with that amount of cash.

I'm refusing this offer and I hope our directors do as well.