Parent Capital Corp V.PAR.H

Partners future

[Roxy27]

The company is leaderless, no cash, has high leverage, has no access to public market equity raises and therefore has to borrow from private lenders. No white knight will swoop in overnight to bid up shares.
The real estate is functional and provides stable cashflow. 
There is a good probability that there will be a buyer of the assets down the road but not now and not at these share price levels. Anyone buying the assets has to pay significant fees, pay out employees, costs of absorbing and integrating operating platforms, refinance costs of debt.
Plus the acquirer needs anough of a discount so that their existing shareholders don't punish them for buying an entity that is damaged goods.
That requires a deep discount. This has little to do with the underlying real estate. 
If PAR.UN, under new management where to dig itself out of this mess, the first thing they would need to do is to cut the dividend 50% and sell-off some functional low leverage assets. This would help raise cash, pay down the most expensive debt and start a sustainable growth platform. This will take a couple of years.
Look at Huntingdon REIT and Lanesborough REIT as examples. 

Good luck to all holders of PAR.UN. 
It's been a painful lesson for holders of the REIT. It's your $'s invested so Mgm't trust should be earned in earnest, not given.