A whole 3000 shares, thats how the game is played, short between yourselves using small amounts of shares to scare weak hands.
they are the mngt co and handle the refi's
Extremists on both sides 75 on one side and 150 on the other.
110 is a sweet # that OPEC pretty much said is what they want per their last meeting two days ago.
Article about Mexico and oil in todays WSJ, drilling shallow water is coming back.
Cramer is in maybe thats the signal after some covering the last few days,.
And now that Iraq is in the news its hard to argue cheap oil is coming
IRT owns newer complexes with min vacancy rates in strong markets so we can expect them to raise rents accordingly and all these increases will fall to the bottom line.
Read from article below:
The apartment rental market (multifamily housing) should see vacancy rates edge up from 4.0% in the second quarter to 4.1% in the second quarter of 2015, with added supply helping to meet growing demand. Vacancy rates below 5% are generally considered a landlord's market, with demand justifying higher rent.
Areas with the lowest multifamily vacancy rates currently are New Haven, Conn., at 2.3%; Ventura County, Calif., 2.4%; and New York City; San Diego; Hartford, Conn.; Oakland-East Bay, Calif., and San Diego, at 2.5% each.
Average apartment rents are projected to rise 4.0% this year and in 2015. Multifamily net absorption is expected to total 221,400 units in 2014 and 173,100 next year.
Couple that with them doing these low interest rate refinancing deals and cash flow can skyrocket.
IRT is a great value in todays world of people looking for yield, safety and value.
Correct, no need for a special service provider if the mortgage payments can be made. There is also the right to call a cash trap if the lender wants to which means that all the funds after expenses and escrows are held in a special account that the lender controls until the mortgage is paid off. The mngt co can still pay bills and do repairs its juts that the owners get no $$$.
As I said I never new that cmbs loans had this provision, I am sure they are different in each loan.
The bottom line is an owner would rather refi at a lower rate rather than pay a 2% penalty and 2 to 3 % higher interest rate.
Just to let you know the note has a 1.6 million defeasance penalty which is why they are discussing this now. Will rate stay low and what will rates look like in 2 years?
And your point is.
I just told you what happened and something about cmbs loans that I never new.
Now as far as going into foreclosure they will not according to the mortgage broker but thats only if the loan can be paid with the much higher interest rate and after the 2% fee of the outstanding mortgage balance is paid otherwise it will go into foreclosure.
its a remedy in case a refi cannot occur.
Get a copy of a cmb sloan and read it and see for yourself.
By the way the mortgage is 18 million on a 31 million shopping center and the re broker said it is worth that using an 8 cap .
I was in a meeting with some people that owned a large shopping center in SC this Monday.
Present was a re broker, the mngt company and a commercial mortgage broker.
The discussion was what to do with the property as the mortgage is coming due in two years.
The re broker explained the market and said it could sell blah blah.
The mngt co said rents are rising blah blah.
The mortgage broker said, first unknown to almost everyone is that cmbs loans always have a provision in case the owner cannot refi the mortgage. They lender will not foreclose instead they have the right to charge a 2% fee of outstanding mortgage amount and raise the interest rate 2.5% above the current rate until the property is refinanced.
I never knew about that, the broker then went on to say hold out for a good mortgage and do not fear the mortgage going into foreclosure and you have 3 to 5 years additional time.
Does RAS own any cmbs loans?
Oil is now over $107, many are fearful this may carry over into some other OPEC countries.
Iraq's oil industry will go up in flames by end of summer.
Invest in safe countries like US and Canada.
Iraq is a disaster, the army left their posts took off their uniforms put down their weapons and walked home.
The rebels now have all the latest equipment that the Iraq army abandoned.
Secondly, yesterday OPEC announced they are not increasing their production like many hoped.
Colorado is trying to shut down fraccing.
Oil is staying above $100 and the Gulf is looking cheaper and safer more everyday.
Mike Mike Mike, did you ever hear of the Constitution and the right to free speech.
Just because someone doesn't have they same thoughts as you or beleive in the same things as you doesn't give you the right to slam them and swear at them.
As far as care, I do not give a rats butt who is in the White House I can't do anything about it like the president or not, by the way Obama is 1/2 Irish his mother was Anne Dunham an Irish lass. Also another fact was FDR was part Italian yet they tried to hide it, his middle name was Delano that is Italian yet they said it was pronounced Dell--an--o.
Look at IRT safe residential divy paid monthly yield is approx 8% yes 8% undiscovered and buying lots of newer complexes rents are rising and they will raise divy by ye. Duetchs bank has them as strong buy.
ARP pays 1% monthly safe place to park some money especially with latest oil and ng prices.
There are very few shorts this is just traders and computers and taking out stops.
Basing for next run on 2nd qtr news.
Fraccing is growing by 50% in North America sand prices are up who really gives a rats a..ss about shorts.
Look at Austin Exploration an Aussie Eagle Ford shale co zero volume market cap is 20 million worth 100 million the Aussies are clueless about US oil.