I also own this (regrettably). The share price discount to NAV plus the ability to sell properties above-NAV makes me hang on. But I suspect that waiting until 2027-2028 for any serious return of capital makes the IRR here underwhelming.
Thanks - excellent analysis. I own this but have been wondering what to do with it. I not convinced it’s worth owning. All decisions seem to be so slow and I suspect managers are just milking this as long as possible. Will probably sell
I also own this (regrettably). The share price discount to NAV plus the ability to sell properties above-NAV makes me hang on. But I suspect that waiting until 2027-2028 for any serious return of capital makes the IRR here underwhelming.
Thanks - excellent analysis. I own this but have been wondering what to do with it. I not convinced it’s worth owning. All decisions seem to be so slow and I suspect managers are just milking this as long as possible. Will probably sell
Very interesting article, Oak. I have been tempted by this one but it sounds like it may not be a slam dunk.