Alternative Inc Share Price (AIRE)

This was written in the AEW annual report:

It is of regret to the AEW UK REIT Board that this opportunity did not proceed to an agreed position. AIRE's portfolio was believed to be consistent with the assets and management style applied within AEWU. In particular, AIRE's assets' inflation-linked income stream was felt to be complementary to the strong rental growth prospects offered by the portfolio of AEWU. The Board will continue to monitor the AIRE situation and other corporate opportunities.

https://www.lse.co.uk/rns/AEWU/annual-financial-report-2om00hins1kvrmq.html

I wouldn't read too much in to why that deal didn't go ahead. Deals fall through all the time for all sorts of reasons.

Regarding the announcement yesterday regarding the 3 properties let to Meridian:

Immediate financial impact: basically none. The headline sounds scary, but then you read the details. Rent for the June quarter has already been paid.

Parent company guarantee from Duferco a multi-billion dollar steel trading group with substantial cash. AIRE expects minimal impact during FY2027.

Importantly - Property valuation already assumed lease expiry. Properties are currently let below market rents. This development actually shows why the portfolio isn't something that must be sold tomorrow. Instead there is scope for management to increase value.

lease renewals, rent reviews, releasing upside...

Does yesterday's property update explain why AEWU pulled out or was that info already out there? It's a significant chunk of their portfolio and is there a question mark over the ability to find new tenants after 2027, or costs associated with repurposing the site??? Useful informed comments anyone?

I'm keen to hold as it suits my income needs for now and could even cope with a 10% reduction in yield if that is the consequence.

Why did AIRE reject AEWU offer,but not this one?NAV 84.4p how can they even think of not rejecting this offer?

I have been watching pretty closely. When I saw Glenstone buying in the market at 70p, it told me that they must have doubted the take up of the first offer.

I was also pleased that AIRE commissioned an independent valuation, and the confirmed the NAV is broadly the same at 84p (from memory). I think AIRE will respond in due coarse to Glenstone who are frankly gaslighting shareholders by trying to claim that their offer is fair.

One thing that could happen (or rather here's what I would do): Board of AIRE promise shareholders a continuation vote, if GS voted down, with an exit much closer to NAV. Personally I would vote for continuation, as I am not looking for an exit. However, if the vote was not to continue, well there is already 2 keen buyers - Glenstone and AEW. With REIT consolidation on going, I really think they could sell the pf.

When is an increased offer not an increased offer? When it's in place of a dividend payment. Tell them to stick it, I'd rather endure another managed wind-down than give my shares to these *****.