Black Sea Property Fund Share Discussion Threads

[mikeriley] 27/7/2005 08:14

promising update today. See a little flurry of buying this morning

[rambutan2] 26/6/2005 19:46

manager does well out of though, aside of initial payments they get 2 and 20 up to 100% return and anything beyond that is 2 and 30.

also, theyve got £50m to invest. that's quite a chunk of capital especially taking into account their natural gearing. do folks who know the mkt think it will be possible to find enough good prop opps in their area?

my experience with some other similar (although non property) closed-end funds is that they raised too much capital at the offset and so suffered from serious cash drag. i noticed that recent launches are structured so that they can raise capital in tranches, at set future dates or as and when needed, and thus are far more efficient.

out of interest, a black sea rns search...


and to keep it company, one for bulgaria...


and another vehicle launched (ecpc)...

[phil2003] 13/6/2005 17:33

most disapointing! 1/2p ain't gonna set the world on fire.

[snaptastic] 13/6/2005 07:47

news out?? pre market buys....

[phil2003] 11/6/2005 18:05

Stand by your beds chaps, this will move north - Monday 13th am.

[twatcher] 31/5/2005 14:14

The original prospectus was a statment of general intentions. Unless I'm msitaken this is the first mention of an actual acquistion (or option to acquire).

[roodboy] 31/5/2005 13:50

i cant remember what exactly the original prospectus said but isnt todays RNS old news?

[phil2003] 20/5/2005 14:40

buying levels suggest this is probably a pause for breath & not a new ceiling (judging by the L2 activity) however I've been wrong before - just one look at the sea of red that is the small cap (exploration) section of my portfolio confirms!
gonna stop watching this one now, it's holiday time.
good luck all.

[twatcher] 20/5/2005 14:09

I see a little bit of upward movement this last couple of days, lets hope its a trend !

[snaptastic] 19/5/2005 17:06

looks like a bottom may have formed. lets hope some fundies take some interest now...

[phil2003] 09/5/2005 17:53

moved the spread up 1/2p today, Mmmmmm...

12:21:57 / 09-May-2005 - 20.75p / 2,000,000 shares / £415,000.00

[phil2003] 27/4/2005 22:36

is that a channel i see forming in the charts ? 22p's our ceiling to watch then

[yorkshire t] 25/4/2005 20:42

Phil2003, have a look at the news section of www.marinacape.com (thanks snaptastic!) which shows a few articles on how things are changing in Bulgaria,



It seems BKSA are right in at the beginning and I agree with your opinion re. RNS streams and market cottoning on.

[phil2003] 23/4/2005 00:01

excellent post yorkshire t, much appreciated
i'm treating this as an alternative to holding cash / long term investment to offset some of my more spectulative tech/energy stocks and am holding a not unsubstantial amount of bksa (so obviously i'm biased) either way after re-re-looking at the stats and the underlying fundamentals (see above!) imho it'll only take the first rns for some serious interest, it's a great feeling being in at the start of a trend, might be months till the markets cotton on but hey, never a good idea to have all your holding in volatile stocks.
good luck all.

[snaptastic] 21/4/2005 22:13

i have reserved 2 off plan apartments near Nessebar, www.marinacape.com , managed to get in at a 15% discount to the prices on the website. Bought some BKSA because i think the prices that they have negotiated apartments are at a huge discount to the price joe public would pay and they stand to make huge profits even if the market stands still. If it motors on over the next couple of years they will get some momentum behing them.

[mikeriley] 21/4/2005 14:06

Does anyone know if any of the original investors at placing are tied in for a period of time or can they sell at any time? i.e. is there a lock-in period? Just curious as a 1,000,000 sell appears to have gone through.

[stingray1690] 14/4/2005 12:25

phil2003, thanks for posting the scsw tip..... looks like there are few interested people out there at the moment, but i wonder how long it will be before the market picks up on this one.

Regards S

[snaptastic] 11/4/2005 21:32

i will be interested to see if we can hold these levels for a couple of days.. there has been a strong seller of late so will sit and watch now and if we appear to have found buy interest that is sustainable, will add on the way up..

[phil2003] 11/4/2005 18:53

couldn't muster the 30k at launch and have been watching this very closely since then - was waiting for it to level off - that times now (imho) so I'm in as of 9am today - on the back of what stingray's said, edited highlights from quite lengthy scsw tip are (in my opinion):

~ bksa fully subscribed at launch
~ bulgaria likely joining EU in 2007
~ Bulgaria is 3.5 hours from london, ave summer temp of 25 degs.
~ bksa run by former management of law firm, norton rose
~ bksa have secured 1,300 properties being built (deposited 20-25%, great gearing bksa!) in Obzor, Shabla & Kaverna at EU480per sq M, ie: a 50% £ per sq metere discount at today's market prices..
snaptastic any thought on these areas?? (bksa now have full ownership of 20% of ALL new build projects in these 3 areas - at 1/2 asking price by just putting down 20-25% deposit!!) I'm asking myself what the EUpersqM price will be in a few years time??
~ They don't intend to own any of these properties, but sell them just prior to build completion date.
~ 4 other schemes being signed up in next 18 months??
~ we think tht bksa is poised to deliver some awsome gains.
I seem to remember reading something about an ex-bulgarian goverment bloke being on board, anyone??
steady rns over the coming months will attract alot more interest, it's only going north!
Good luck all.

[snaptastic] 11/4/2005 10:01

could get some momentum going if some small cap funds start buying.. these guys have bought apartments at 50% of book value as far as i can see.. very well connected in the country.. news over past few days of work to upgrade the airports and runways at Bourgas airport for more aircraft.. expecting some deals with easyjet/ryanair to be forthcoming over the next 12 months.. low risk at these levels imho... i'm investing off plan myself and think there are risks unless you do your research.. too many apartments in the sunny beach area i think but good potential in surrounding areas that are less 'blackpool' like.... more exclusive resorts will command a premium in the future...

[stingray1690] 11/4/2005 09:36

Its a monthly tip sheet snap, when I have a bit more time I'll post a summary of what they said, don't have it infront of me at the moment. Not one of the two main recommendations they make each month but still liked what I heard, think it was the bit which read 'awesome returns' which did it for me.

Regards S

[snaptastic] 11/4/2005 08:45

ta sting, 100k delayed buy gone through...