Great post! There is plenty of unrealised value in this vehicle now and since the crash of the shares.
In extractying value for any or all asset sales I ask management to screw every last cent out of buyers. The time in the property asset cycle that this sale comes up is in my view extremely poor.
Robert Tsenin is incentivized to make a deal happen. He should be incentivized with negotiating hard with the banks to roll over debt and do deals on some properties.
CER is in a NTA positive position. Not a great one due to Super LLC write down.
I believe the best outcome is to window dress with some property sales for the necessity of our banking stakeholders and then gather more write-ups of property values which are coming.
CER Price at posting:
21.0¢ Sentiment: Hold Disclosure: Held
