TSX:INO.UN - Post by User
Comment by
Raider877on Jan 10, 2025 6:08am
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Post# 36397319
RE:RE:New Press Release - Inovalis Real Estate Investment Trust Announces the Conditional Sale of 87.5% of the Arcueil Property for €37.5 Million
RE:RE:New Press Release - Inovalis Real Estate Investment Trust Announces the Conditional Sale of 87.5% of the Arcueil Property for €37.5 MillionFor Arcueil ...
Well, I am unsure if it is Ontario school math or Paris school math, but 87.5% of 45 million Euros is 39.375 Euros.
It is not 37.5 like the article says.
It is about a 5% writedown from the Q3 financials.
If you take that 5% reduction across the whole valuation, you are looking at about a $3.39 million loss from the fair value given at the end of Q3.
For Sabliere ... it was sold for the fair valie on the books.
Quick math .... equity was $209.958 million at the end of Q3.
$209.958-3.39 million (write down on Arcueil) equals $206.568 million.
Number of shares outstanding 32.630 million.
Rough NAV is $6.33/share.
The sale of the property at close to fair value can mean the other properties are valued correctly.
Trading at $0.91 is roughly 14.375% of book value.
In my opinion, if this continues to trade this low, the parent company (Inovalis S.A.) would be foolish to not offer a buyout.
The longer it continues, the lower they will offer.
Even if they offer 40% they would make quite a bit if the valuations are good.
So, would you take $2.50 a share (a touch less than 40% of $6.33) ?