Appreciate that you are always keen to seize an opportunity to have a pop Certainly the situation in Hong Kong raises the prospect of LINK reappearing as a white knight
My own feeling is that they could just as easily pick off the 4 centres from Moelis for the bondholders without all the hassle of sorting out company debts What I am very sure of is that I wont be risking a penny piece on any outcome here
No change of story Wig Not my money just making a comment Its a rollercoaster-all coming to a head in June
The Hong Kong situation is getting out of hand and the market is expecting an influx of money
However they need to act fast if they are going to head off the bondholder
Having endured many years of being answerable to a set of BODS overseeing a complete destruction of shareholder value It's hardly surprising that some of the more entrereorenurial agents decide enough is enough cut loose and and take valuable clients and instructions with them
These 2 ladies time served at Hamptons
Unfortunately for INTU it makes a lot of sense. The bondholders are owed £1.3bn and have already engaged a Magic Circle lawyer and a top investment house to look after their interests.Luckily they are able take advantage of the ring fencing they enjoy on the 4 assets at a time when the loan covenants will breach at next reval. This will allow them to take control of the rental income and potential sale away from INTU and ensure the income is safe . If they don't very real risk they might go down with the ship
Bond holders will be grabbing this opportunity with both feet and hands where they should get the vast majority of their stake back as and when 4 centres find homes
Well things are likely to develop quickly over the next few weeks especially if INTU wish to avoid the 4 shopping centres being snatched by the bondholders.
Maybe help from the Far East beckons . As rioting heightens in Hong Kong rallying against the imposition of the Chinese National Anthem being opposed money will be desperately looking to find a safe haven
Maybe LINK rermerging somewhere in all this ?
For reasons best known to yourself , you are choosing to ignore what is happening in the property market .More importantly that shareholders investment here is suffering because of the types of property which are loaded up in the portfolio
This is just the way it is
British Land reported today where they have flagged up a loss in value of 26.1 % on their retail portfolio . If you think RLE's portfolio is somehow immune from all this-think again despite the fact the company states it has little exposure
Bassi is a seasoned and smart operater so he will no doubt handle a difficult situation well
Whether all this works out well for the small investor is a different matter. What I do know is that valuers will be taking a haircut to the next property revaluation
As ever DYOR
Tebest of luck
Sounds like a name change to Asian Land after that . A huge ripple of panic sweeping through the property lending industry with those drop off in values as valuers wield the sword .Equity disappearing down the drain on their loan books
British Land .Not the news wanted at INTU HQ - Almost impossible task now to see Rothschilds being to keep everyone singing from the same hymn sheet after that category killer
Hope has just disappeared over the horizon with its backside on fire
British Land reporting today for YE March with a rivet popping 26.1% fall in retail value .
Looks like a roller coaster ahead .I think it was the 1st week of June Axel took Bruce out Bound to be some street hustlers up for the game but yes this does look interesting .Instructions are arriving in greater numbers which all things considered are respectable
If only they could improve their act as well -so easily done!
As retail doors open now presents opportunities for lenders to undertakes some debt recovery Busy time ahead with market values resetting
Receivers brought in on 4 malls
The picture in the Tweet is the Birchwood Centre at Warrington
Waving distance from the Trafford Centre!
Beware of rampers who are happy to make a loss!
In fact if you had bought the shares in Dec 2015 when the SP was 68/70p you have received under 16p worth of dividends
So at today's SP you would have been a country mile ahead of the game keeping your money under the bed!
It does seem a share which has attracted very little from the wider market with very light volumes .Maybe that wlll all change
", I only invest to make money... dividends in fact."
Sure, I understand that but don't forget the current share price is down 40% in 12 months and shareholders who have held a bit longer at over 60p even factoring in dividends received it hasn't actually set the Thames alight
Well the fundamental difference between CWD and PURP is that PURP are carrying no debt and have already hit the ground running easing out of lockdown . Both enjoy plenty of potential but both handicapped by a very unispiring set of BODS
Well only a short time before Axel can determine a current "market value"should they wish to up their stake and exercise control as handcuffs will be off after their last buying spree at a £1
Surprised that apart from Seneca that other shakers and movers haven't chanced their arm recently to make life more interesting
Yes great news where the vast majority of the June QD rent looks as if it should come through the door . Certainly encourage the bondholders to take advantage of the opportunity to seize the assets knowing that they will be a little easier to shift and get their money back
Not expectingo you be respectful but recognise that many potential investors like to familairise themselves with the company's assets , others content to place their faith in the individuals that run the companies
Very welcome news yesterday on the retail front which should relieve the pressure off many of the tenants and a positive effect on the portfolio .
I retain a watching brief .
Don't shoot the messenger Dont blame me for Sainsburys breaking their lease HP failing to renew their lease or BHS leaving RLE with a headache Bathstore going west or Travelodge holding RLE and others to ransom
You are labouring under a grave misunderstanding that a share chat poster who has an interest in the portfolio making some comments ,posting up some salient facts on various properties ,occupational changes which have come to light , the state of the market has any effect whatsoever on the value of the portfolio or the share price .
Forewarned is forearmed
It sounds very much to me you have very little interest in the individual properties and their journeys whereas clearly I do .
I was invested in Mucklows another W Midlands property orientated company (who recently sold out) who placed a higher focus on industrial and warehouse property which for some reason best known to RLE are largely absent
form their portfolio .
This a property asset which underpins the whole of the W Midlands property market yet it is strangely absent from RLE's portfolio
Been looking for another home for that investment with a W. Midlands bent hence my interest in RLE amongst others I make it my business to explore the properties ,the best I can ,Don't knock me for it and post what I find .positive or negative
What does annoy me though is when bad news is buried
It's not RLE's fault that the market is challenging ,rents received have taken a hit. Believe me certainly don't want to see any wreckage in the W Midlands property market but also fully aware that the value of the property portfolio has taken a hit Those properties with short leases are at higher risk of not being renewed in a challenging market
Again RLE have no control over that except make the terms attractive if necessary to secure a fresh letting .They have a competent team and I am sure they are working very hard with that aim
The portfolio interests me greatly as I am familiar with the area and stock having plenty of skin in the business and cognisant of the risks attaching to a high yielding portfolio