From the surface, it is a great buy. The long-term debt is only about $220m (07 report) But a couple of issues need further investigation:
1. It still return positively over 3 (might not after today) and 5 years period, means its assets inflation is still not let out yet;
2. The see-through borrowing. Could be a killer. $200m might not enough to keep it afloat for long without more capital.
kimco realty to buy shares in valad, page-24
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