This blog is in response to a reader's comment on Sabana REIT being taken over by a substantial shareholder.
I was replying to the reader's comment but it got pretty long.
So, I am publishing the reply as a blog instead and more people can eavesdrop as I talk to myself.
AK talks to himself:
It seems that Volare Group isn't buying the entire REIT.
Just a partial offer for 10% of the REIT at 46.5c a unit.
It is at a rather big discount to Sabana REIT's NAV but, given the much higher risk free rate today, it is probably not too bad a price.
I remember blogging about what I thought a fair price might be for a buyer to offer for Sabana REIT.
That was in relation to the low ball offer made by ESR REIT at the time.
I suggested a price of 48c a unit....