Real Assets Value

Trying to build wealth and learn something investing in listed real estate

[Real Assets Value @RealAssetsValue]

As we enter Q3 earnings season, I'm asking for feedback on the way I've been doing updates on substack to my write ups...
Should updates to write ups (earnings, important news, etc.) be published as:

[Real Assets Value @RealAssetsValue]

@yenoms They really are levering the f up, 4.0x and that's before including the CLO!

[Real Assets Value @RealAssetsValue]

Some andecdotes from @CushWake Market Matters (one of the better economist-style CRE publications out there):
-Bid-ask spreads widening, retrades increasing due to rates
-Larger price impact on low-yielding deals, less on higher-yielding
-Retrades averaged 3-5% vs. 5-10% asks

[Real Assets Value @RealAssetsValue]

@ShitFund "So far my track has been tracking""

[Real Assets Value @RealAssetsValue]

@Polarisbear87 So NYSE could be the villain here? I managed to sell some shares pre-market but not all and I feel for shareholders who never got the opportunity to sell during trading hours at the prices available pre-market...

[Real Assets Value @RealAssetsValue]

Was this NYSE action foreseeable and $ELME just didn't give them a heads up or what went on here? Does anyone with more experience on this have a view?
An appropriate end to a liquidation where shareholder communication has been bungled throughout...

[Real Assets Value @RealAssetsValue]

@JeffBeckMadDog

[Real Assets Value @RealAssetsValue]

2026 Q3 update: https://t.co/Kcx3se8iNu
Note highlighting attractive (Oct 1): https://t.co/XgTDnIcsfG
2/2

[Real Assets Value @RealAssetsValue]

Logistea was up ~9% Friday on news M2 (Rutger Arnhult, 2nd largest shareholder ) sold their entire stake.
Most bought by Nordika - who was and still is their largest shareholder. Now 22.6%.
Helps explain how bad price action has been - overhang of a large, motivated seller!
1/

[Real Assets Value @RealAssetsValue]

Well that didn't last long - trading halt at 9:26am due to "Regulatory Concern"!

[Real Assets Value @RealAssetsValue]

Post distribution, $ELME spread to potential stub value has closed significantly base on pre-market prices. I’m taking the money and running!

[Real Assets Value @RealAssetsValue]

@RandolphDuke7 It is exciting... for the TowerCos!

[Real Assets Value @RealAssetsValue]

@Polarisbear87 @JeffBeckMadDog What I think is a conservative timeframe for reps, warranties, contingencies to fall away and liquidation to be completed… there could be distributions earlier, one key milestone is usually 12 months after last property sale - contingencies related to PSA usually fall away…

[Real Assets Value @RealAssetsValue]

@thepupil11 @Mr_Neutral_Man Live shot of me at my computer looking at numbers in spreadsheets and squiggly lines on a chart

[Real Assets Value @RealAssetsValue]

@JeffBeckMadDog @SpecialSitsCap Agree - at this point you're handicapping how good mgmt's liquidation cost estimates are and if any of the $9.5m cash reserves will get eaten up by cost and how long it will take to finish up the liquidation / when you get any excess capital back...

[Real Assets Value @RealAssetsValue]

@JeffBeckMadDog Feels like the stub discount has closed a lot? Obviously gross its ~$0.04 vs. a max of ~$0.11 per share based on the $9.5 cash reserves.
But assuming 2yrs, 15% disc. rate, stub is $4.7m FV, which would imply ~20% over-run on $23.3m of est. liquidation costs / expenses...

[Real Assets Value @RealAssetsValue]

Brief note up on Logistea AB (LOGI.B) - the Swedish micro-cap net lease industrial / logistics PropCo.
Will potential data center development upside get anyones' attention? Oh I forgot we don't like AI / DCs anymore, whoops... How about <10x FFO?
https://t.co/O6Fxq6Ujw9

[Real Assets Value @RealAssetsValue]

@JeffBeckMadDog Asset sales? Now the question is, are they just going to put that capital right back into the ground...

[Real Assets Value @RealAssetsValue]

@judgebushwood Definitely not saying that Athene are right and this executive is wrong - just trying to piece together what the perspectives mean...