Apr. 29 at 5:45 PM
$ARE Dispositions usually take 6-12 months to complete right? In the call I recall them saying about 80% of the dispositions were already in an agreement/LOI phase which while not binding is a pretty decent indicator that
$2.9 billion worth of dispositions will occur as promised or at least be close to that.
$2.9 billion in disposition for ~10% of the assets would firmly reinforce the stated NAV. Total real estate assets would be around
$29 billion, total liabilities around
$15 billion. 29 - 15 =
$14 billion. Add on top of that their
$4 billion cash position would give their asset valuation around
$18 billion. Legit 2.5X of the current market cap.
Am I missing something or is this kind of crazy?
