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Wow. Well that distribution to shareholders was totally...

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ainsleym

3,045 Posts.

207

24/11/17

10:19

Post #: 29081054
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Originally posted by ainsleym ↑

Their transition strategy from houses to multi family rental complexes is now almost complete, just got to sell the remaining 23 Cleveland houses. Given their recent refinancing arrangements for Patriots Pointe which delivers extra capital for investment, plus the completion of house sales, I reckon they will purchase another multi family complex, maybe not quite as big as PP, possibly around $ 10 Mill, possibly some small borrowings as well to secure it . As long as any long term locked-in interest rates are well below the rental yields, I am fine with it in regards stable income from which to distribute 6 monthly dividends. Its all about dividends at the end of the day.

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Wow. Well that distribution to shareholders was totally unexpected.

USR Price at posting: 55.0¢ Sentiment: Hold Disclosure: Held
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