Post by
DanielDarden123 on Apr 07, 2023 1:51pm
By Association
Some sellers are undoubtedly reflecting on the turmoil at Slate Office without realizing that SGR is a much different with essential retail properties. With no mortgage renewals in 2023 their interest costs should be stable, unlike SOT’s. Of course, the management team is also different and operating in a more desirable asset class. Astute investors will likely take this opportunity to add to positions at ~11X AFFO ( among the lowest on the planet for any REIT). With growing NOI and a stable cap rate, the discount to NAV/u is also enticing.