International Real Estate Share Discussion Threads

[ydderf] 06/8/2004 08:05

lolol another MASTERFUL investment in the making....

[gelp] 27/7/2004 21:32

I HAD the balls!
I get the message though!

[ydderf] 27/7/2004 08:42

how many angels on a pin head - get a life and balls and you might make some money!

if anything this is a further buying opportunity, the partnership is irrelevant to the main play being conducted by the MASTER!

[gelp] 27/7/2004 00:40

25 april 02 1116300 was provided for share of dimunition of value of props which share was val at 2486k 00 and 1226k 02. My above comment is not far fetched if prop is able to reach the 2000 fig again. halved in val in 2 years - not the best buy!
PS if company in receivership can it proceed with litigation?
I`m 33% dowwn on my investment & am still hanging in!

[gelp] 27/7/2004 00:26

If property sells at auction for a decent price it could clear the debt and make a profit - am I naive?

[simonevans] 26/7/2004 21:23

well the answer has been announced - a £600k write-off for IRE. Not exactly the good news that we were looking for!

[gelp] 26/7/2004 13:49

The jt ventures are a bit complicated as there are loans and `non recourse` loans floating araound as well as the penalties.
The jt venture properties may have gone up in value - a lot depends on the useage and demand in the area.
I don`t think you would resign from the ventures and the management of the ventures if you had any intention of keeping them.
If part of a deal its seems strange that this is announced on its own.
The props were unlet and had been for sometime. I suppose if a tenant is now on board then the value can be ascertained. I wonder why was unlet for so long?
it does sound like something is happening.

[ydderf] 24/7/2004 17:37

in a war, the first thing you do is recall ambassadors from the enemy cities...you don't want them getting damaged in the blitz krieg bist du?

[simonevans] 23/7/2004 21:09

Well maybe...but this was only worth c£0.9m: having said that the valuation may have improved as it was previously unlet and had been heavily written-down in prior years.

h) Basingstoke partnership

Investment property comprises the Company's 25% share of the investment in the
Mobius House property, Basingstoke. This property, which was unlet, was valued
at #2.4 million (Euro3.4 million) by FPDSavills, Chartered Surveyors, in accordance
with the requirements of the Royal Institution of Chartered Surveyors on 31
December 2003 on the basis of open market value. The Company's 25% share amounts
to Euro848,000 at 31December 2003.

The property is owned by a limited partnership between the Company and Stratford
UK Properties LLC ("Oaktree"). The Company is in litigation with Oaktree,
details of which are set out in note (g).

[gelp] 23/7/2004 19:40

leaves no rep from IRE on the jt ventures? I wonder if the `jt venture` deals are currency for a settlement? doesn`t look a bad idea . Surely means IRE are out or on way out of the JV`s. Any one know the value of the stake off hand in the JV`s?
Would leave IRE with all belg props. Clean and tidy and with less cash to shell out. Could it be a cash less `normal` deal? no winners or losers? all in my imagination of course.
Avowed intent is to sell down UK assetts.
Positive signs but what are the numbers?!?
imoh dyor etc.

[simonevans] 23/7/2004 18:04

some news today, but implications are unclear. is a settlement on the cards?

[gelp] 20/7/2004 17:58

about a dozen transactions at 1000 shares each. & rises 18% today. delighted to see it but why?
there have been other false dawns see chart.

[ydderf] 20/7/2004 12:43

lololol the MASTER is unequalled, isn't that so ursus?

[philjh] 20/7/2004 11:07

up 14% today - very encouraging

[ydderf] 20/7/2004 10:07

lol means i continue to be the MASTER!

[gelp] 20/7/2004 08:18

what does LOL mean?
up this am.

[ursus] 17/7/2004 20:17

if you read the HoL decision, you will see that it remains possible to relaunch the summary judgment application with different materials. but that looks unlikely: the real point of dispute identified in the HoL is fact rich and will be rather expensive to litigate. but it shd come on within c12-18mths.

[simonevans] 17/7/2004 08:47

Yes, interesting. The best option imo would be to settle out of court now, say at £2-5m - that must be good news for both parties.

[gelp] 13/7/2004 16:40

25000 shares and 1000 bought today and there was a 50000 purchase on the 6th.the 25k and 50k are certainly bigger than any other transactions for some time.
the 50k clearly holding the price up. but few deals. Interesting . 50k is quite a lump. In one go.I don`t disagree with your thoughts Y. About 210k buys near 3% and has to declare.
Can we tell who is buying?
And who are Butler finance who hold about 7%. Impossible to trace?!?
dyor etc.
Any one on the thread buying 50K?

[ydderf] 13/7/2004 16:09

going a little better i see, looks like it may not be as bad as some might imagine.......dyor etc

[ydderf] 06/7/2004 16:26

Gelp, i doubt if the major shareholder would consider recommending a bid from Oaktree - because that would imply Oaktree could win the case, and I doubt if even Oaktree are confident of that. Looking at the figurtes,the MS has a lot more to gain from seeing it through, than selling out now. We must assume that they are pretty sure of their strategy, since they have the most to lose from getting it wrong. Logic suggests they would have come to terms ages ago if the odds were seriously against them........all imho

[gelp] 06/7/2004 14:22

Yes. But you have not commented on the sense/possibility of Oaktree bid before case gets back to court.
We seem to agree that the risk reward ratio is looking more favourable as the price dips. And I concur that divi payments is `bird in the hand `stuff for shareholders.
But I also think that if company is going to make expensive fight they may conserve cash for that fight or indeed to make a settlement.
It would be consistent to continue payout.
40k buys yesterday -that makes a change.

[ydderf] 06/7/2004 10:45

Gelp, i agree the yield is not guaranteed, but if you were the controlling shareholder, what would you do? If it were me, I would be looking for legal ways to get value out of the company as quickly as possible, dividends are one obvious choice. You could argue that if the divi is supended or reduced it is suggesting that the company believes it is virtually guaranteed to either win the case or settle on favourable terms - there are no other circs where this would make sense. Even on a full pay out at present, the company is viable, attractive even imho. There is hardly any float, so once the seller(s) are out, the price can only go up. Even in a worse case scenario it would take years, probably for the company to go into administration, not even the suing party would want that, because there would be further years of uncertainty - ther will be prior creditors after all, even if only the inland revenue and the lending banks. It is risky but the risk/reward ratio looks very favourable to me!