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Apollo Commercial Real Estate Finance, Inc. Message Board

  • CRE is near 52 wk low. Does anybody here like it at these levels ? ($25.40)

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    • yes, Riverside many be growing - but it's huge, and there are few "barriers to entry". ARI, on the other hand is heavily in Beverly Hills/West LA where land costs are among the highest in the US and where there is massive opposition to any further development beyond a treehouse.
      KRC is a good company, no doubt. It's just never going to draw institutional investors at the same rate. Would I own it - sure; would I fall in love with it - not likely; while I would suffer far more to own solid luxury props on Wilshire Blvd

      • 1 Reply to smartermoney
      • KRC institutional ownership is 83%. ARI is 87%.

        KRC's primary base of operations is not in Riverside or San Bernadino counties where the most growth will be in the next 2 decades. They are in Carlsbad, San Diego proper, North County San Diego, Del Mar, etc. Those areas also have high barriers to entry.

        KRC selling at much deeper discount to NAV at this time because of its exposures to EToys, Perigrine, and Boing. Once KRC reworks and hopefully avoids such heavy future exposures to any one company they will recover much of their present discount to value.

 
ARI
16.43-0.13(-0.79%)Sep 22 4:01 PMEDT

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