RE:RE:Firm Capital Challenges Melcor ( They need some challengingThanks for your view!
I anticipate that the REIT will try and sell off some assets but may or may not be successful.
I suspect that Melcor will privatize the REIT. There will be some form of cash and shares in Melcor Development exchanged but not at a premium. I would not anticipate any premium to the market price of the REIT shares (but could be wrong). The REIT is probably worth $4's a share in the current market.
As for Melcor, you don't get to be a 100 year old company (especially in Alberta) unless you can manage your business through the volatility. I trust that Melcor won't stick its neck out too far on this.
On a side note, I am interested to hear how the Harmony lots sales are lining up for 2024. Denver has been a very strong market and the demand still seems to be there. I would like to see the lot sales move up into the 300 to 400 range in 2024.
LR