Re: NRE Friday close
In my opinion, the prospect of them trying and build the REIT from here is why the price is tanking. What else is the market supposed to surmise in the face of absolutely no news? Not distributing the pile of cash they're sitting on also supports this narrative. Nia, Feldman, and Ross are conflicted with shareholders, they want future gainful employment but the sale of the assets may force them out. Yes, they will be handsomely compensated upon sale, but they are young guys and the gravy train will stop. Conflicted, conflicted, conflicted.
The looming June deadline with CLNY is the only hope we have of a near term resolution, but this can be easily moved as we've seen before. I really hope I'm wrong and a deal to sell everything, at a price close to NAV, happens in June. But we could see a much longer process that enriches management and hurts shareholders. Where are the heavy hitters??? Don't they have a fiduciary responsibility to push NRE??? or maybe they're just fed up and selling as Dar's closing price list suggests.