Slate Office REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 T.SOT.DB

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Be careful

[Northforce13]

"I don't suspect tax loss selling.  I think it's just everyday panic selling by people who see something going down, and are not able to do the analysis to understand the assets and the likely outcomes. "

I think similarly.


Meanwhile we all await developments to see what happens.


On the debt front there appears to be

* mortgage debt on individual properties, which is a case by case situation and should be "ok", some sales, some refis perhaps even some keys returned to lenders.

* the ireland properties, which also appear to be fine, with a large equity to loan value

* the 300 mil +/- revolving credit facilities.  This is the main problem, with lenders exerting extreme pressure.  It would appear there is around 50 mil of dispositions in the pipeline at this time, probably all related to the revolving lending facility. 

The remaining 250 mil does not seem so large when compared to the total size of the RE assets pool and the players involved.  I would think that they should be able to deal with this through some dispositions and finding an alternative lender or something of the sort.

Time will tell. 

Certainly an interesting investment.