Ravelin Properties REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 T.RPR.DB

RE:RE:RE:Slate Office

[rad10]

People like tree2tree look at the NAV and think they are getting a bargain.

The external manager has lumped a bunch of crappy assets all together with a <80% occupancy.  It's clear SLAM is very active, just not with the office REIT.

There is some confusion as to what was actually said during the Q1 conference call. I personally thought their sales were realizing 30% of net asset value, NOT a 30% discount to NAV.  (I rewound it several times) Either way if you extrapolate the 30% discount across the portfolio (the better case scenario) the equity is just a few cents.  If it's the worse case scenario the debentures aren't covered.