RE:RE:RE:BAM now buying BPY sharesOlive,
I do not disagree with anything you said, it all makes sense.
My long time thesis has been that BPY has a ton of debt and if there was a shock(s) in the system, then BAM would likely be able to take advantage. And that time could be here now. That is all I am saying.
I think there is now under 500 million units in the public float which at current prices is about $4B for BAM to privatize.....not much, given BAM manages in excess of $500B in assets.
However, do recall, in Feb 2019 (13 months ago) the $500mil SIB was very unsubscribed at US$21 per share. There are a lot of long time and patient large shareholders in BPY.....who won't be happy with a privatization way down at these price levels.
I am still long and buying more down here. But we are in a very uncertain environment and the last month has proven anything can happen.
Hopefully this helps,
Vette