RE:RE:Partners futurepjn0987654321 wrote: "No white knight"
Orange is better than nothing. They may start accumulating more shares now that their call for the Hollyrood transaction to be unwound is being acted on.
I have a good amount of respect for Orange Capital and their shedding light on McCowan's fraud.
But when a company finds itself in the position of Partners its not enough to have a company own a few more of their shares. They need the public markets to support a growth strategy by providing a cost of capital that's low enough to make quality accretive acquisitions.
This scenario played out with Holloway, Lanesborough, Huntingdon.
REIT's are leveraged financial vehicles. The ingredients are cheap equity capital, quality assets with NOI growth potential, leverage and mgm't strength. The best have all of these. Companies with most of these (including mgm't) can get by in good times.
Companies can't dig themselves out of a whole without all of them.