Whiterock Real Estate Investment Trust T.WRK.DB.K

RE: The irony of it all

[baudelaire]

"THE IRONY IS , IF JUST LEFT ALONE, THE PRICE WOULD AHVE GONE UP ON YEILD. ...........................JASON UNDERWOOD.......Im sure you are feeling the same issues ( perhaps 400000 units worth?) WRK is a public company : let the public know what is going on ! the lack of news is killing the price ( while the business does well)." I doubt Underwood minds the public's uncertainty. No sooner he got the $3.5 million in class b's the REIT went up for sale. The long term leases, the careful assembling of a talented executive team, the projections of AFFO coverage and hundreds of millions in acquisitions...all point to a common goal between shareholders and management of LONG TERM value maximization. In the SHORT TERM, the REIT's cost of capital was falling big time, fund managers were mentioning the REIT in National Post interviews and on BNN, all of the per unit metrics were improving (AFFO, FFO, NOI), the "pipeline" of acquisitions was full, the units were trending up but with volatility,...nothing that would warrant a "for sale" sign like the disaster at Retrocom. I've been searching SEDAR for a description of any conditions attached to the class b units Whiterock Capital recieved on the internalization and have yet to find anything. IMO, the sale looks like a crappy way for Underwood to cash out. I agree, the price would have gone up on yield AND all of the above.