OTCPK:NNVUF - Post by User
Comment by
maypeterson Mar 17, 2020 1:34pm
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Post# 30817774
RE:RE:RE:Is the deal off?
RE:RE:RE:Is the deal off?Sarge can add .. . or someone else to what I have written below ..
I really doubt deal does not go through. I have bene accumulating shares and today - the 27 handle was a gift.
Got to remember who the buyers are and what their motivation is.
Starlight and Kinsett are both long term players not worried about short term pricing in the market. The NAV has not really got affected and they paid a multiple of the NAV which came out to $36.25.
Kinsett has the REAL ESTATE Fund 7 which raised $1.5B of cash in 2019.
Starlight has their own Canadian fund. Also will spin off a portion of the holdings into a new closed end fund and keep some for themselves.
Some of the apartments going to go into a new JV betewen the two.
Starlight owns 13% of shares in NVU. For those who are not aware of Daniel Drimmer - he is a pretty big player in Canada and has made good money for me in the past.
He is CEO of TNT.UN and also Starlight . .. was also the Founder of True North Apartment REIT which became NVU when they marged with Northern Property REIT in 2015.
He is bring back the assets he build up back to his own funds.
He was also the founder of TransGlobe Apartment REIT which as the old timers may recall gave a very nice return when it privatized. GLTA
CHECKMATE77 wrote: I don't see any reason the deal would not go through.
this virus market is temporary, rent from apartments is on going
if nvu eas a private company the mkt crash would not have any effect , so as to a public company.
with interest rates lower , the deal is even better