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

Chicago acq

[theinvestor22]

Depite the company's well known issues, it does appear that the Chicago acq was a really sweet one.  A good building with a quality tenant and a good lease at a very good cap rate even with the vacancy.  When that's filled - and it should get filled over time given the quality of the building - a cap rate in the mid teens is beyond peachy.  A lot of folks will not give SOT.un any credit for anything positive (such is human nature), but in that particular instance a few kudos should be spread around.

[CanSiamCyp]

This post has been removed in accordance with Community Policy

[Malpeque2]

Get a clue.     The cap rate on the equity is 10% at 10 times FFO,   and that is after all fees and expenses.     The Cap Rate on Chicago is 8.5 based on NOI,   before fees and expenses to run the Organization.   A bunch of analysts say in these 3 Q reports that SOT discount at P/FFO is at the high end because of higher than average debt

[Malpeque2]

And he goes to PA.  because it is his home state where he was born and can maybe campaign and pick up some Nativism votes.     A swing state.