I just bought another 9,000 shares today, total is now 250,000, my ave is still pretty darn high though.
With regards to Anders, he still doesn't know his real estate.
He doesn't understand that Landlords check out the credit of tenant applicants and not the other way around.
He doesn't understand that a tenant would never knowingly enter a long term lease with a landlord who is going to lose his property to a bank foreclosure. Now of course in real estate 101 a lease runs with the land, so if you are going to get the property at a huge discount, so it would be a total steal then that would be different, however since this building is not stand alone, so that with a triple net lease all expenses are paid by tenant thus the building could survive a foreclosure quite well. This property is part of a larger deal where there is a huge amount of land and another building that needs to be maintained. Would you want to lease a building on property that will be going into foreclosure and everything will be most likely ending up dilapidated.
Another point is now that the property is 100% occupied, and also partially occupied by the owner, is completely rehabbed or will be shortly by written agreement with a known tenant who is credit worthy any lender would gladly want to make a cash out refi to the borrower NWBO. Nabob will then get a bigger chunk of cash since an appraisal will support a huge increase in value since it was purchased. Remembering again it was bought when prices were low, it was bought basically as a land deal with development potential and was vacant and dilapidated. LP just turned the property completely around and added an enormous amount of value that can be turned into cash through the refi, we are talking millions here. Besides the $1M cash flow set to start around the first quarter of next year.
Once again LP is taking a defunct property , bad news and turning it into cash, good news. Yet many here only try to spin this as either no news or bad news. Making your assets work for you isn't a sign that the company can't make money in the biotech field and thus is switching areas of business to real estate. This is a sign of a long term business plan because they know they will be around for a long time to come. What did APPLE just accomplish with their new campus. Did they switch fields and go into real estate because they bought 100's of acres and build a guy office building.
