Exactly right question.
Makes little sense.
RAS only did $200 million of loans in Q2. 100 conduit, and 100 bridge. At the rate they are lending they have enough cash for all of 2016.
The only problem is that irt only has a two year management contract with RAS. RAS will double the charges at time of renual.
Remember irt has no employees. RAS, 700+.
I'd love to live with my parents too. The rent was always just the right price.
But alas, they are dead.
Short housing stocks. Khyrtfdsc says the kids will not be buying a house any time soon.
Looks like RAS raised $60 to $70 million with Preferred A. Someone should confirm this because I don't trust my eyes at this point.
FL property sales.
Sale of some second mortgages......per cc. Not sure about my ears either.
Sale of TX property.
No need to issue more common.
Both tsre & irt are too small. No one is following either one. Once they get big enough to have a billion market cap investors will pay attention. Soon. Soon.
No, not the high quality assets. Rather the assets that don't fit.
1. $25 million from the sale of Tabernas notes. Big loss booked, but cash raised.
2. $13 million + from sale of TX apartment building. $17 million + gain.
3. $15 million from the issuance of new prefereds.
Wow. That's quite a bit for not really trying.
Two more properties on the block. $25 million more expected from them.
Between this and my other fun potentials, RAS has no need for cash:-)
Just having fun on the beach....literally at this moment!