RE:RE:WORTHLESSGiven that 8 - 9% annual returns on student housing portfolios is considered the industry average,
where are the thousands of beds "owned" by GEC?
GEC has been in business for at least 30 yrs. and has a thin operating margin on its non-real estate assets. Small time stuff. Bush league.
GEC has promised grandiose projects for years which have NOT materialized.
Now we are to believe GEC is a student housing rental titan. Just like that. Out of nowhere. Poof the magic dragon.
Cobbled up thousands of units in a markedly inflated housing market.
Using what? Credit lines? LLPs?
Come on, MAN! Get serious.