Melcor Real Estate Investment Trust 5 1 Convertible Unsecured Subordinated Debentures T.MR.DB.B

RE:Risk/Reward made sense to me - Possible buyout

[Malpeque2]

Retired CEO:  I liked your post.   Melcor REIT is cheap.   Ditto Melcor Developments.   There is so much family buying by the control shareholders of Melcor Developments at or around current prices I decided to play along with them  on Melcor Developments. 

MRT and MRC are cheap too.   Ditto Dream Unlimited.   Thing is,  these all have control shareholders.   I am not sure that Firm Capital writing a letter can be a "catalyst" for change at Melcor REIT.    I assume they are threatening a derivative action or an oppression claim  that they could pursue in Canadian Courts.  Maybe this could be successfull.   

In terms of a catalyst,   I bought some Artis REIT when Sandspring Capital showed up with their call for a special meeting of shareholders,   meaning they had more than 5% of the stock and could call one.    Artis does not have a control shareholder,  and the largest holder threw their potential vote in with the dissidents and against the BOD.     I got in at $8.25 and am now out of all but a few shares.    I think the easy money has been made there.   It's up much closer to IFRS NAV and higher multiple of FFO.   

For whatever its worth I think Slate Office gives you the best discount to NAV and the best potential  for a catalyst for change to come along and stir the pot.