re: Ann: Completion of Senior Loan Refinancin... I would broadly agree with ThinkinLoudly .
If the asset is cash flow positive , the management should IMO work to make them more profitable, rather than just dumping them, I do not know that much about Japanese culture and ways of doing business, but I believe that they value reputation and loyalty much more then we do in the west. One can not operate a business in the vacuum. Next time AJA wants a finance, it might find that doors are closed, if they welsh on their obligations.
Paying down the loans of lower performing properties with profits from the more prosperous properties, would re-balance the gearing, leaving AJA with bigger portfolio (-the property price s might finally improve and go positive again-) and good reputation of conscientious borrower.
And mainly with better absolute number in yen of total rent collected to distribute to long suffering shareholders.
This American dog eats dog style of business where you dump your troubles on somebody else has never done anybody any good, Just look what economical mess our friends and allies got themselves into, pursuing methods suggested above.
AJA Price at posting:
$2.95 Sentiment: Hold Disclosure: Held
