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

Very interesting balance sheet

[MARKOPOLIS]

Take the properties value (which are at cost) + accounts receivable and cash on hand LESS alll long term and short liabilities (every debt liability) divide by shares outstanding you get $6.54/ share 

now let's say less 6% for disposition costs 

.94*6.54 = $6.15/share (liquidation value) 

now obviously properties were acquired when interest rates Were lower so let's say rates stabilize here 

lets Take 40% discount off the .60*6.15= $3.69 per share 

current price 2.52/3.69 per share 

it appears to be a decent deal trading at .68% of liquidation value less another 40%

yeah the whole office space is extinct .....if you talk to employees they say "I am so much more productive" when you talk to employers they say get back to work 

only tech can get away with it ......but they are laying off as the have plenty of dead wood employees who were unproductive at home

[riverrrow]

Office space ownership looks complicated. Inside Brookfield’s $765M Loan Defaults on DTLA Offices (therealdeal.com)

[rad10]

Marko, thanks for continued posting.  Armoyan 2 board seats.  Dividend slashed and stock price tanks. working out the play here isn't too challenging.  This will be taken private within a few months - question is at what level.

[pennydredful]

Should   one   take   40%   of   the gross  asset  value   the   equity   is  worth  less than   nothing   so   to   take   40%    off the    equity   alone   has   very little  meaning