I'm tempted |
And a few more, that's my lot for the day. |
Added a few. |
Further weakness :( |
I’ve reviewed the Q4 December 31 updates from both API & CREI. I have accumulated CREI @ average 71p to equal weight my API holding. I’m voting all my shares for the proposed merger. I have detailed the reasons underlying my choice on the API thread. |
The institutional investors would have to be bonkers to vote this through imo. |
@EI API have done well to close down the vacancies they've had on offices for many years and actually made them more investable for me. Mind you it could easily fall back if expires/breaks don't get renewed. I suspect CREI will move out the bigger API assets like Hagley Rd if they can shift at current valuation. |
Does abyone have a view on the 20% office holdings the business will have post merger?. Thanks. |
The API Scottish land purchase was £7.5 Million, since owning some of that land has been planted (not all on my understanding).
So hopefully CREI dispose for £8 Million plus. Very clear from comments they don't see this as part of the portfolio going forward. |
The 20% office holding (post merger) is not ideal.
I can see the attraction in Grade A London. Well located Birmingham and Manchester should also be ok? (but tbh I don't know those areas well enough).
If there is a further dip intend to add a few more, which may not happen. |
SREI has a great B/S - locked in long-term debt with 10yrs maturity. Not especially cheap though.
Personally I topped up my API yesterday as at 52.45p it equates to buying CREI at 67.24p. CREI very well-managed and will turn around after the merger has gone through. Getting an 8% yield there is almost generous to a fault! |
API was improving Occupancy to 95%, & ERV chugging along nicely before bid, not sure of new mgt I believe only property fund, so a small outfit. Share price slightly up so tempted to move to SREI or SHED each have there own positives & negatives. SREI move office exposure but Schroders manages billions & more inhouse resources. Decisions? Any thoughts?. |
Few were happy with the CTPT deal, CSH, or EPIC either.
MLI about the only good one, unexpectedly out at NAV.
Surprised at CREI, they look to have permanently removed their favourable discount. |
With all respect to API, I would prefer if this merger does not complete - however ii's will likely support so it's perhaps a done deal. |
Thanks Nick, appreciate the reply. |
@EI i loaded up when CREI share price took a dive seemed too good an opportunity to get another covered high yielder in the portfolio. |
Waiting a bit to c if they go lower |
Added a few today. |
Well, personally I've just bought a few more API @ 52.45p - equivalent to CREI @ 67.24p - yield of over 8%. |
Nick, have you bought or added here?, thanks. |
Gives us a bit more detail than was already released with the merger document although if ive read correctly saying NAV 0.4p down on what was projected then. Happy to see vacant properties being shifted and that they will all go towards lowering the RCF. Not so happy with them saying the CAPEX is "expected" to give a positive return. Anyhow merger or not with API it created a very nice entry price. |
Any thoughts on the merger?Yes or No? |
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