The US Masters Residential Fund, or URF, was created in 2011 by Dixon Advisory and was intended to raise money from clients of the respected advisory firm.
The collapse in value of the URF, however, lured some bargain hunters and activist investors, and while holders of the hybrids will welcome the terms, ordinary shareholders are set to lose out.“There was a lot of a senior debt and preference shares, and the increase in the A$ had reduced the net amount available for ordinary shareholders,” said activist investor David Kingston, who had bought both ordinary units and preference shares at a price of 60¢ in the dollar.
The prospective buyer, Brooksville, is a real estate investment and management firm that focuses on multi-family properties, in particular the New York area. Brooksville has partnered with Boston-headquartered real estate private equity firm Rockpoint.
The most illiterate house hunter knows not to overcapitalise or over extend on what they buy yet these guys did it in spades, & got paid a management fee to boot. A fool & his money….
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FinancialReview - 🏆 2. / 90 Read more »
Source: FinancialReview - 🏆 2. / 90 Read more »
Source: brisbanetimes - 🏆 13. / 67 Read more »