Post by
undervalue on Aug 25, 2022 9:59am
Smart allocation
When does paying 500 a buildable foot make sense when the market is less.
Let Madison take you through the process. The new buy at 323 W 6th.
12,000 ft for $18 million. At 3 times coverage that is $500 a foot.
The building rounds out a land assembly that has taken years. Madison now owns the block and can build a campus. With an entire block, 48,000 plus feet, the mass of a redevelopment will likely be 300,000 ft.
Plug a market price of $300 in per buildable. The entire block is now worth 90 million.
A buck and a half pre tax.
Madison continues to increase value for the shareholders.
Comment by
Malpeque2 on Aug 25, 2022 1:32pm
So have them sell the Block for the $90M and send us all EQUALLY the after tax sales proceeds! I still have my measly share for sale at $6.91 now because someone keeps matching me on the ask with 10,000 shares. Nobody wants the 10,000? I think they might be still there at 6.92 or 6.93.
Comment by
undervalue on Aug 25, 2022 2:24pm
I am the bid for both. If you want to exit.