OTCPK:NNVUF - Post by User
Comment by
SargeXon Mar 17, 2020 1:50pm
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RE:RE:RE:RE:Is the deal off?
RE:RE:RE:RE:Is the deal off?Hey May
Totally spot on with all comments (got my thumbs up for such a good summary)..Both Starlightlight and Kingsett are big firms so I think the take-over will go ahead. Interesting on TransGlobe. I make a good pile of cash on that take-over but actually didn't know it was Drimmer.
Lots of the stock market action lately has been totally weird but I think today's action on the REITs takes the cake. Of our 7 REIT holdings, HR and NWH are down around 2.5%, and others are up between 1 and 5%.
As an aside, I picked up 1000 shares of NVU at $29.02 and was originally intending it for the longer term. I had to go out so given how crazy its' been, I put a sell in for $. I was shocked to see how high NVU had gotten when I got home. The trade was less than an hour between buy & sell so even though I left some dough on the table, I'm not complaining. I'll just continue to monitor and if it falls back I'll re-do the buy.
Ciao
Sarge
maypeters wrote: 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