Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (72457)	3/1/2023 7:18:47 AM
From: Madharry	Read Replies (1) \| Respond to of 78673

To clarify Macerich has nothing to do with this property. Mostly owned by Washington Prime. They estimate it will take 8-10 years to develop this plan. Starwood reports today, distribution yield is 10% at the moment. To put this into context, I recently looked at a a small cap actively managed fund whose manager is lauded as one of the brightest in the business. the return over 20 years has been about 7% per annum. OT rant. government legislators seem more concerned about tictock then our reliance on Chinese to supply us with drugs and other critical supplies. Why is that?

To: E_K_S who wrote (72457)	3/1/2023 10:44:08 AM
From: Madharry	Read Replies (1) \| Respond to of 78673

Listening to Starwood conference call. Sounds good so far. office is about 13% of the portfolio. they foreclosed on a couple of office properties one in la one in houston. Multifamily continues to perform as does their affordable florida housing portfolio, book value is about $22. Sternlicht talking about the economy. New construction down 27%. business services let go 400,000 people. white collar recession. rents are falling but cpi still has them rising. reopening in china will help supply chain issues get fixed and that will ease pricing. They are waiting for fed to start cut rates before they go on offence in booking new loans. Thinks Multifamily sector is rock solid. Industrial going from great to good. Everywhere but the US office is good. In the usa A bulding is doing ok . everything else has no demand and will have to be converted to other use. almost no exposure to new york or san francisco. hotels very strong- margin better as they are missing workers. best lending environment since 2009 as banks are on the sidelines. Will not sell equity below book value. If they dont do any more business they can earn their dividend because of the increase in floating rate. They are also the largest special servicer and they expect earnings from this unit to increase and is asset light business. Very cognizant of shareholder's reliance on dividend..