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JV to "create a substantial portfolio of modern Roadside Real Estate assets to be funded by up to £100 million of equity" just announced. They are going for it....
Good luck, Brighty
With leverage this is a lot bigger. >£200m and they own 51% of the asset manager. Great time to be building a portfolio.
Significant developments today at BARK:
* Formation of Roadside Real Estate Joint Venture with Meadow Partners LLP
* The JV is targeting a double-digit portfolio internal rate of return over the 30 month initial investment period
* Working with Meadow to implement a fully funded strategy
* JV has the opportunity to create a portfolio worth £250 million over time
"Having successfully developed a small number of roadside sites which have proven our concept, we will seek to rapidly convert our acquisition pipeline to create value for shareholders and our joint venture partner, whilst delivering valuable community amenities - not least increased access to electric vehicle charging." - Chairman, Charles Dickson
* Meadow is a real estate private equity manager based in New York and London with US$6.2 billion gross AUM. Its partners have been responsible for the acquisition and ongoing asset management of over US$30 billion of real estate assets located in the United States, Europe and Asia
* Company intends to change its listing identifier from 'BARK' to 'ROAD.' as the company is to change its name to 'Roadside Real Estate plc'
Also, in the RNS today: "CSS is in advanced negotiations with a leading global hotel group, a sports watch designer and a leading home entertainment equipment manufacturer".
Good luck, Brighty
I thought that looked a good RNS. They have found a massive partner who will get things moving fast. Barkby Group might only own 3% initially but that can go up to 10% and at least it will be a percentage of something that is happening.
But all I can see no trades, only a few posts and very little interest. How odd.
Get CCS sold and they might want to renegotiate for a bigger percentage.
"On Sunday, Sky News reported that Barkby had decided to sell CSS to focus on its roadside real estate assets portfolio, with a potential value of GBP50 million for the Barkby subsidiary."
Just picked up the RNS.....WOW
Sorry CSS.....
That cash is what they need to take a big holding
Agreed Cawdor and Art123. The JV is a really significant step in the right direction for BARK plus the sale of CSS will help significantly. The SKY News story that you alluded to quoted up to £50 Million for CSS. Even £5 million would be a game changer for this small company, never mind £50 million ! Bring it on.
The main issue here is that BARK is so under the radar that it's going to need some tv, radio, press and online exposure about the £100 Million JV with Meadow Partners to kick things off. However, once this starts to move it will soar. Today's news was excellent....
Good luck, Brighty
Brighty,
They have the connections to put this business in the media. The CSS announcement demonstrated this as did the Mail Midas article in 2020.
The pandemic derailed their plans. Watch it go over the short term
I've made good money out of this share in the past and I still see it as a poss unicorn.
GLA
Can we get a flurry to the finish....CDL and RTOP is looking primed to breakout today