Urban Logistics Reit Share Discussion Threads

[nickrl] 21/2/2024 09:39

Both offers low ball but be nuts to pay NAV for API but risk here is a bidding war although given severe damage done to CREI share price already they would be foolish to go any higher but SHED could. Not a holder here but perhaps another opportunity to get back in if so keeps going south.

[elbrus55] 21/2/2024 08:50

After the share price movements this morning, the CREI offer is almost on par with the SHED offer for API.Not at all clear this transaction will go through. Doesn't look that appealing to shareholders and many presumably already have shares in more than one company here. Maybe some expense savings in the long-run and a bit more liquidity on the stock but you basically just end up with the same assets in a different wrapper.

[cwa1] 21/2/2024 08:44

I think we can rule out the great minds thinking alike bit, so it must be fools seldom differing :-)

[cwa1] 21/2/2024 08:42

Taken a punt on some SHED

[essentialinvestor] 21/2/2024 08:40

Had a small amount.

[igoe104] 21/2/2024 08:39

SpectoAcc what makes you think you have better judgement than the Shed management? Typical arrogant nobody hiding behind your phone...

[essentialinvestor] 21/2/2024 08:33

CREI cannot compete with SHED, the SHED combo propells the merged entity well in to the MCX.

[spectoacc] 21/2/2024 08:32

@scruff1 - UKCM looks a given, with Phoenix support, unless BBOX shareholders say no.

API I don't think will fall to SHED or CREI - why would API shareholders give the co away, at a discount, to REITs with falling share prices.

But the issue is that neither BBOX nor SHED can be trusted now. Aways felt SHED had the best management in the business, perhaps second only to SGRO's.

Now they can't be trusted (must admit had a wobble with them on the Tufnells buys, and sold out then, but had since returned).

[scruff1] 21/2/2024 08:24

Specto
Bear in mind neither is actually a done deal yet

[essentialinvestor] 21/2/2024 08:24

I'm hovering but not hoovering ;

[cwa1] 21/2/2024 08:22

So...at what point is it worth having a punt at SHED then?

I've just released my CREI purchase back in to the wilds before folk realise that after SHED's drop and CREI's relief rally, CREI will soon be back in pole position to get API ;-)

[spectoacc] 21/2/2024 08:21

Both BBOX and SHED have royally f'd up, two great sector specialists, last mile & sheds, seemingly now empire-building amongst the generalists.

Why didn't the two of them just merge? Or sell themselves to Segro. Or keep doing what they've both been doing. Or buy WHR.

Anyway - the market is clear, CREI's up 6% in the hope it no longer buys API, SHED's down 6% in the fear it does. Enough said.

[scruff1] 21/2/2024 08:15

Its been underwhelmed for two years. Was just beginning to show signs of life and its been throttled again, Same with BBOX. Hard work this. Back to sleep

[spectoacc] 21/2/2024 08:15

I was one of the original capital providers for SHED, I know their portfolio, and management, and I know both of those at API too.

"Sell off what they don't want" - good luck with that. How's the market for half a dozen big offices atm?

[igoe104] 21/2/2024 08:13

The market has a very short termist view at the moment. Folkz are only thinking for the here and now, rather than long-term

[skinny] 21/2/2024 08:06

The market looks totally underwhelmed.

[igoe104] 21/2/2024 08:04

Over 90% are quality assets, I don't know why SA is getting his knickers in a twist. Just sell the other bits off.🤷

[igoe104] 21/2/2024 07:59

Sell off the ones that don't suit the portfolio and keep the quality assets. Calm down spectoacc

[spectoacc] 21/2/2024 07:59

@ammons - per @Skinny's link, the Industrial is fine, albeit little in SHED's area of specialisation.

Now click on the other tabs!

[ammons] 21/2/2024 07:58

Perhaps the API assets aren't as bad as you think they are, spec?

[skinny] 21/2/2024 07:09

Post 683 :-

[jombaston] 20/2/2024 19:04

We need to vote against.

The terms only work if half of API assets including all the offices can be sold quickly to repay the expensive API debt and reinvest 20% in desirable assets.

This is a risky deal for SHED shareholders but a good deal for management who keep their jobs and make money on the side (see note 4 in SHED announcement)

Surely, someone wants to buy SHED at 20% below NAV? BBOX,SEGRO,LMP please put us out of our misery!