yield- i am sorry , i neglected to mention the error on lvr
no1 martin pl. is jointly owned 50% by mof ,ownership entitlement has nothing to do with lvr,loan to valuation ratio,in addition we are not presently privy to where the board will deploy funds for overall debt reduction,they had a capital raising to pay down debt,which theoretically dilutes earnings,however the debt paydown reduces int. cost so dilution hopefully is not greater than 50% and in time might prove significantly less than 50%.plus asset sales, i am sure mof is well managed,lookthrough debt is low and no other mezzanine debt that i am aware of,capital raisings for funding if any will be non-recourse.
please note no other post alluded to lvr it seems a little misrepresentation is the order of the day.
i look forward to any,educated comment
MOF Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
