Well said ! These guys had a hidden agenda from the start ! Then using the Blackrock association as a smoke screen and CIBC playing both sides on this one!! I hope this is a wake up call to the securities commission that this ponsi needs to be investigated. All this money spent and its looking like this was the play from the very beginning and probably anyother interested parties were discouraged from participating because this crocked deal was already in the oven! Looks like all the best assets were dividedd up by the principle parties and the rest was transfered to the common shareholders that have been offered a token cash payment and .56 of a roll of toilet paper GO stock that by the way has only gone down since this deal was made public!! I only see one winner in this deal at the cost of all the rest of the shareholders !! Blatant conflict of interest so obvious? What were they thinking ?
Yes, I saw that. There's obviously a close connection, but I don't know the details. Possibly, Eric Weiss is related through the Rubensteins (the "R" in H&R)? The family tree is less important than the obvious fact they are acting in concert w/r/t H&R REIT.
I sent you a message DM in your thread. Eric Weiss & CRAL also share the same address as H&R REIT in the Ontario business registrar including the same suite. The Ruby Ventures bros only have the same address but their own suite. But the guy with the most stock has the same suite. How is that not fraud/insider trading? Do they use wall dividers to keep the secrets and confidential data away from each other?
The further you look into this deal the more it smells !! Tom gets the assets and the shareholders get the GO toilet paper ! If this goes through the Go boys will be bumping up their salaries 2 fold and issuing shares bonuses like there is no tomorrow! All these guys know what to do is dilute shareholders while they draw a big juicy salary ! Those poor suckers to bought this IPO have had nothing but down!! Hope HR shareholders don’t get stuck holding the bag on this one !!
Yes it seems to be where we should turn our efforts. The GO team will be very very easy to dissect. I am hoping to block the deal before we get there. Their stock already has scabies and any rationale person will not invest with a scum bag who diluted his main investors 38% NAV overnight after telling people since inception they are a pureplay New York story. The Teo connection is bad, and this Gotlib guy is completely incompetent and we need to have a conclusive clear answer about this Natalia Legg-Gotlib fraud story. It is not a nice book cover. I think the management there needs to be replaced if we are going to be transferred over. Gotlib has issued stock like a Venezuelan Bolivar. He can't be trusted in any capacity. But again I invested in H&R because I wanted a catalyst and low leverage, Sunbelt exposure. I do not want to be sent into the lions dens with Zohran Mamdani and elevated leverage at this time.
Great article, but why are you using 6 % cap on his Sunbelt properties ? Even Watson said on the call their IFRS NAV values were confirmed by private market transactions. That may hit us in the pocket book if Hofstedter tries to use your article when it comes to pay the dissenters.
Thanks! I think that's where US multifamily peers are valued today in the equity market so it's a realistic expectation for Lantower. Conditions may be turning up for the whole group and lead to appreciation over the next 1-2 years. I'm cautious about her claim that private market transactions support a 5% cap rate. I think individual properties can trade at that level, but portfolios have been trading at higher rates. Blackstone bought AIR Communities in early 2024 for a 5.3-5.5% cap rate. Veris was recently acquired by GIC+Affinius at a 5.5% cap rate.
Well said ! These guys had a hidden agenda from the start ! Then using the Blackrock association as a smoke screen and CIBC playing both sides on this one!! I hope this is a wake up call to the securities commission that this ponsi needs to be investigated. All this money spent and its looking like this was the play from the very beginning and probably anyother interested parties were discouraged from participating because this crocked deal was already in the oven! Looks like all the best assets were dividedd up by the principle parties and the rest was transfered to the common shareholders that have been offered a token cash payment and .56 of a roll of toilet paper GO stock that by the way has only gone down since this deal was made public!! I only see one winner in this deal at the cost of all the rest of the shareholders !! Blatant conflict of interest so obvious? What were they thinking ?
Alexander Hofstedter is listed as a director on Eric Weiss' charity:
https://www.charitydata.ca/charity/eric-weiss-family-charitable-foundation/759529910RR0001/
Is that Hofstedter's boy? I only know about Zev Mandelbaum...
Another insider who is not an insider??
Yes, I saw that. There's obviously a close connection, but I don't know the details. Possibly, Eric Weiss is related through the Rubensteins (the "R" in H&R)? The family tree is less important than the obvious fact they are acting in concert w/r/t H&R REIT.
I sent you a message DM in your thread. Eric Weiss & CRAL also share the same address as H&R REIT in the Ontario business registrar including the same suite. The Ruby Ventures bros only have the same address but their own suite. But the guy with the most stock has the same suite. How is that not fraud/insider trading? Do they use wall dividers to keep the secrets and confidential data away from each other?
The further you look into this deal the more it smells !! Tom gets the assets and the shareholders get the GO toilet paper ! If this goes through the Go boys will be bumping up their salaries 2 fold and issuing shares bonuses like there is no tomorrow! All these guys know what to do is dilute shareholders while they draw a big juicy salary ! Those poor suckers to bought this IPO have had nothing but down!! Hope HR shareholders don’t get stuck holding the bag on this one !!
💯I suspect that's why they planned to close ASAP before investors realized what was happening.
Yes it seems to be where we should turn our efforts. The GO team will be very very easy to dissect. I am hoping to block the deal before we get there. Their stock already has scabies and any rationale person will not invest with a scum bag who diluted his main investors 38% NAV overnight after telling people since inception they are a pureplay New York story. The Teo connection is bad, and this Gotlib guy is completely incompetent and we need to have a conclusive clear answer about this Natalia Legg-Gotlib fraud story. It is not a nice book cover. I think the management there needs to be replaced if we are going to be transferred over. Gotlib has issued stock like a Venezuelan Bolivar. He can't be trusted in any capacity. But again I invested in H&R because I wanted a catalyst and low leverage, Sunbelt exposure. I do not want to be sent into the lions dens with Zohran Mamdani and elevated leverage at this time.
Great article, but why are you using 6 % cap on his Sunbelt properties ? Even Watson said on the call their IFRS NAV values were confirmed by private market transactions. That may hit us in the pocket book if Hofstedter tries to use your article when it comes to pay the dissenters.
Thanks! I think that's where US multifamily peers are valued today in the equity market so it's a realistic expectation for Lantower. Conditions may be turning up for the whole group and lead to appreciation over the next 1-2 years. I'm cautious about her claim that private market transactions support a 5% cap rate. I think individual properties can trade at that level, but portfolios have been trading at higher rates. Blackstone bought AIR Communities in early 2024 for a 5.3-5.5% cap rate. Veris was recently acquired by GIC+Affinius at a 5.5% cap rate.