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Neuberger Berman Real Estate Se Message Board

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  • buytop_sellbottom buytop_sellbottom May 20, 2010 5:04 PM Flag

    NAV and Discount (if it comes through right...)

    "For the 12-week measurement period ended May 14, 2010 (the “Measurement Period”), each of NBH, NBO and NBW traded at an average daily discount to NAV of less than 10% and, therefore, in accordance with its respective tender offer program, none of NBH, NBO and NBW will conduct a tender offer. NRO, however, traded at an average daily discount to NAV of greater than 10% for the Measurement Period and, therefore, will conduct a tender offer in accordance with the terms of its tender offer program. As of the close of the Measurement Period, NRO was trading at a discount to NAV of 8.46% and traded at an average daily discount to NAV of 10.20% for the Measurement Period.

    The size and timing of NRO’s tender offer will be announced as soon as practicable. Additional terms and conditions of NRO’s tender offer will be set forth in its offering materials, which will be distributed to its common stockholders. If more common stock is tendered, and not withdrawn, than the maximum size of NRO’s offer, it will purchase stock from tendering common stockholders on a pro rata basis. Accordingly, common stockholders cannot be assured that NRO will purchase all of their tendered common stock."

5.230.00(0.00%)Dec 19 4:06 PMEST

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