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The Blackstone Group L.P. Message Board

mrclean82400 7 posts  |  Last Activity: Aug 20, 2015 1:04 PM Member since: Dec 3, 2001
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  • Reply to

    I wll buy 4000 shares @ $.050

    by jml1968 Aug 20, 2015 5:04 AM
    mrclean82400 mrclean82400 Aug 20, 2015 1:04 PM Flag

    I will join you in that pledge. I bought 2,000 shares yesterday. Trying to catch a falling knife and investing on hope. Not the best way to invest. I guess it is more of a gamble.

  • Reply to

    Well, sale?

    by mrclean82400 Jul 23, 2015 4:23 PM
    mrclean82400 mrclean82400 Jul 28, 2015 12:37 PM Flag

    I see an analyst chimed in with a value on buy out of $16.5. No way is that an acceptable price. What do others think?

  • Reply to

    Well, sale?

    by mrclean82400 Jul 23, 2015 4:23 PM
    mrclean82400 mrclean82400 Jul 27, 2015 12:54 PM Flag

    Some analysts have a price target of $16. If they are going to sell this thing out from under the shareholders, then I think we deserve a good premium over that price. So I think $20 is the only price remotely fair given that we bought this as an investment in choice real estate for the long term.

    I really don't get why Ohana wants to buy this if that is in fact the case. They just sold Montage Laguna Beach and now they want the whole thing? Did they get together with Gates/Cascade and say "let's take the whole thing private"? That does not make a lot of sense. The only thing that would make sense is selling out to Tata since they were never successful in buying Orient Express Hotels and maybe they would pay nicely for our fine collection.

  • mrclean82400 by mrclean82400 Jul 23, 2015 4:23 PM Flag

    Hmmmm. I really don't know what to think.

  • Reply to

    Thank God Hersh is GONE

    by mrgreatcatchforyou Jun 26, 2015 5:04 PM
    mrclean82400 mrclean82400 Jul 22, 2015 3:40 PM Flag

    Granted I am very small retail investor, but I wonder what history will say. From as far away as I am, it just seems like he was in a tough spot and did take action. For example, look at the comment from the CC. Sorry about the way SA translates. But all of this positive news was stuff Hersh started by going the Roseland route.
    And we'll go next to Gabriel Hilmoe with Evercore ISI.
    Gabriel Hilmoe - Evercore ISI
    Thanks, good morning. Mitchell or Mike, can you walk through some of the offices refurbishing opportunities that are in the portfolio, maybe similar to the old Pearson building, just how big that opportunity could be?
    Mitchell Rudin - CEO
    Refurbishing or repositioning?
    Gabriel Hilmoe - Evercore ISI
    Repositioning.
    Mitchell Rudin - CEO
    Take example, the Pearson building, Upper Saddle River, it was high 400, 490,000 square feet. The building was built in 1980 initially, had an addition put on, when Pearson moved in 20 year ago. That building will be torn down by us. It'll be transferred over to Mack-Cali - sorry, to Roseland, will be on their books, they will take it through the approval process, and turn that likely into maybe just slightly less than 500 units of multifamily sometime in the near future.

    The way we look at that though, if we get to define math is, that's an asset that we think is worth $50 million on its current state in Roseland. By the time Marshall, takes it through the process and turns it into a vibrant multi-family community, we'll probably make 2.1/4x money or 2x times the money in a four year span of time.

    So we think that asset on a capital redeployment goes from being worth $50 million to worth $100 million or $125 million within three to four year time frame.

    There's a number of institutes, we've gone through that and as pointed out in the supplemental, we've had some -- obviously billion ideas from Marshall and his team, about taking excess land and parking lots. So really just taking things that we have little to no value,

  • I miss being able to buy at 17 per share. Oh well.

  • mrclean82400 by mrclean82400 Jun 22, 2015 12:59 PM Flag

    I wonder why they sold that minority interest? Symbolic to show the market that the multi-family move was not just a whole in the ground but rather is economically beneficial? I guess I am done accumulating.

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