向HF进行激进主义宣传以进行接管〜任何见解都会很棒
大家好，
我想了解每个人的观点。
我是一个克雷broker who worked on institutional assets for clients for about 2yrs now. One day I came across a public USREIT自成立以来，情况一直很差。房地产投资组合在1950年代由一家人拥有，并于2010年代被公开。他们通过他们的IPOBUT now, theREIT正在交易不到$ 1.7B。
注意：我与一家著名的战略咨询公司合作纽约to devise a plan on doing a takeover and the advisors there said it makes sense to go after it. Even though the probability of succeeding is not high.
What I see from this REIT:
〜所有者在最后6年没有购买任何物业
~ Few influential executives at theREITwere upset with how the family is using the firm to grow their wealth and not doing what's in the best interest for their partners (shareholders)
~公司been trading at lower lows since they IPO'd back in the 2010s
他们的收入中有75％来自他们拥有的5个物业。其余15个物业仅占其年收入的25％。
〜y pay a low dividend relative to the industry
〜REIT大约15％的投资组合
〜REITwas unprofitable in 2018, 2017 & 2019
〜投资组合在一个美国一个州100％占用
My simplified strategy for the firm based on what I see in the克雷空间
~ To win over the unhappy shareholders with 51% voting rights
〜出售15-18处物业，并利用收益在美国和加拿大的增长市场上购买资产。这将增加投资组合的总上限/投资回报率并提供多元化。
〜我计划在10 - 15年的时间范围内执行此操作。
What I wanted to ask the Hedge Fund community was:
1) Does it make sense to pitch this opportunity to the known activist investors in the US (Think Pershing Square or伊坎Enterprises, etc)?
我的想法是尝试与这些类型的公司取得联系，并与他们坐下来进行敌意接管。
谢谢大家，
评论 （23)
Not even in the industry and just an intern but commenting for visibility. But I'd assume that worst case, if you have absolutely 0 connections you can always try the trusty cold email from your work email with pretty limited downside. Would be interested if any activism folks could chime in here though.
WTF是您评论的重点。
There were 0 comments in 2 days before me so as I said, commenting for visibility. If anything, what was the point of your comment? You feel good about yourself now??
该死的小公鸡受伤了
Size is way too small for Pershing, Icahn, etc. A $1.7BN super under the radarREIT这可能不是交易，也许没有分析师或新闻报道，也不是大量的，甚至可能没有足够的披露 - 对大型公共激进主义者资金而言不会有吸引力，并且可能不足以液体不足以在不转移市场的情况下担任职位。如果我是您，我会寻找积极的面值私募股权基金，可以承诺进行私人 /收购。您想从宣传这个方面获得什么收获？
TheREITis traded on the NYSE since the 2010.
You do realize to list on NYSE you only need a $100MM market cap and $100MM cumulative revenue over 3 years right? (纽约证券交易所)
Checkout AltaFox, smart folks who deal with this size
Hi, Thanks for the reply,
The goal of doing a takeover for me is not about getting a job at a Hedge orPEFund but to instead grow the AUM of the acquiredREITas a partner of theREIT.
I took the initiative to work with a well known consulting firm to help come up with a strategy to do it because of a nest-egg I built up over the past few yrs.
他们认为这很棒REIT如果我可以这样做，因为REITowns some really good trophy-like assets that stood the test of time since the 1960s.
. The consulting firm believes its hard since Hostile takeovers are not easy and have a not so high success rate.
但是这个REITdoes have enough negatives to at-least send a takeover bid to the Owners.
另外，PR强烈反对很可能会感到压力很大，而且不太有趣，我根本不喜欢。
有趣的情况 - 我想我要考虑的是您带来的桌子。如果您有足够的资金来拿走大量的股份，则可以尝试将自己投票给董事会。如果您的资金不足（信用 +信用 +其他来源），并且将这个想法带入任何基金，什么可以阻止他们只是按成本雇用运营合作伙伴并削减您？似乎很天真地认为，如果他们有一半的大脑和您正在寻找的资源，他们会慷慨地为您削减您所声称的机会。manbetx3.0手机客户端如果是REIT机会属于资金授权，他们将拥有自己的顾问网络，并且不需要带您作为合作伙伴。另外，如果您拥有如此出色的咨询公司，那么为什么需要从WSO中众包战略？
Hi,
我没有足够的资金来接管一家公共公司，这就是为什么我想与HF或者PE这样做的资金。您对认为基金会带我很天真，但是有些人已经做到了。有些人合作做了。这就是为什么我有些乐观的原因。
If anything, me asking this question on here is equal to getting a sentimental view from fellowHF伙计/加尔人。
好问题，我在这个WSO论坛是因为我要接近20多岁，但不知道HF空间but do know about the克雷空间decently well.
我向这个论坛询问一些投入，以获取那些也在20多岁但乘坐差异船的人。
As we all know, the consultants provide advice and that's about it. It's up to me to either act on it or not and so far I didn't.
$ brg？
哈哈,没有。这是一个完全不同的reit.
try to talk to someone at centerbridge about this
I'd encourage you to think deeply about why this opportunity exists. As in, why hasn't someone else already done what you propose? Illiquid stock, no analyst coverage and other "technical" overhangs won't dissuade a serious financier and there are very smart people in REPE. If the fundamental business looks like a no brainer, you should try assessing corporate governance and seeing if management has entrenched themselves. It could be the most undervalued stock in the world, but could be for a good reason if there's nothing anyone can do about it. The fact is that these days there is so much $ in the world chasing yield that there is likely a good, maybe not deal killing, but valid reason why the opportunity exists as there is an implication that others have passed already.
假设上面的退房，您可能想投入一量适度的现金来保留私人安置代理商或类似的人可以征求您的想法并尝试从Co Investors俱乐部筹集$的单一目的SPV to makethe investment. You would ultimately make your $ based on a waterfall of some sort that will likely yield less total dollars than you have in mind but a tremendous MOIC relative to the amount of capital you actually invest.
If you believe in it, buy as many shares as you can, write articles about it inseeking alpha, and cold email REPE公司总部/物业附近的资金。
Expand youruniverse to Blackstone/布鲁克菲尔德 /喜达屋
好主意，自己购买一吨选项，然后推销，这样您就无法剪掉
我建议与土地和建筑物或H / 2交谈，他们可能会对行动主义 /事件驱动的方面感兴趣。两者都可能而且可能会搞砸您。
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