TSX:BPO.P.A - Post by User
Comment by
chuck84on Apr 06, 2023 7:16am
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Post# 35382559
RE:RE:RE:Mean reversion
RE:RE:RE:Mean reversioni messed up on BPO corp maturities. there is one this july but there is little chance BPO defaults on its senior unsecured at this time
way i would look at it is there are countless properties in portfolio. some with zero equity, some with plenty of equity.
dtla may not be last of the properties they put to mortgage holders but there is still a mountain of equity in the "good" properties that should well more than cover corp debt + prefs + leave lots of equity left over
bpo will likely need to shrink in size but BN will try hardest to renegotiate terms to keep as much as possible as they do earn 1% aum