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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 691.66-0.1%Jan 16 4:00 PM EST
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To: Johnny Canuck who wrote (54449)11/30/2021 4:03:29 PM
From: E_K_S  Read Replies (3) of 69866
 
They bought this property for $21 million and sold it for $42 Million. I own some of their preferreds which are in the rears for 5 quarterly payments

The Company intends to use any net cash proceeds from the sale of the Hotel to repay the existing mortgage on the property, repay a portion of the secured notes with Kemmons Wilson, to make any required distribution on the Company's preferred stock related to maintaining the Company's REIT status, and for general corporate purposes.


Not much activity in the preferreds SOHOB & SOHON
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