since this thread started a few months ago, share price is down...

since this thread started a few months ago, share price is down another 20%.

reality is they are not offloading properties fast enough.
a couple of millions of dollars a month of sales is too slow to make a real dent in their debt.

URF notes II & III has combined debt of about $250m

with their interest rate at +8% interest
reality is URF will still be bleeding interest costs.

I suspect they can't offload property faster because they are cherry picking only those properties that can be offloaded at a market price above book value.

and then to top it off New York and related property prices are now dropping. google New York residential prices