Just watched Scott Rechler talk on CNBC...

Just watched Scott Rechler talk on CNBC recently.

http://www.cnbc.com/id/15840232?video=1625466262&play=1

Interesting was his statement that USA REITS are currently valued at 16% premium to NAV. RNY is a discount of about 70%. Some upside potential there!

He also said to expect more M&A activity, including public REITs going private. You have to wonder whether he is hinting about RNY. A major opportunity exists for RXR Realty to buy out the remaining 25% of RNY while it can still be bought for a massive discount.
RXR is cashed up and in the market for aquisitions.
Do we know why RNY are even still listed on the ASX (or why they did in the first place)?

They may be waiting for the current refinancings to be sorted, but whatever the result, I beleive we could expect to see some activity shortly after.

If I was managing RXR Realty, I'd be offering a complete buyout with the condition that the current loans up for renewal are paid out at 75-80 cents in the dollar. From what I understand, the financiers could be very happy with this outcome. It would be a win for RXR giving them instant 40-50% equity (on the entire entity) with strong cashflow, lower risk and overall financing costs.

At a 10 cent share price, this is definitely worth holding on to.