-There is likely 30% upside to the current share price upon a sale.
-Subscale size indicates to us remaining a going concern is not a viable option.
-Following $700M+ of sales between the Hamilton and the New Year’s Eve announcement of the sale of the Brickell Assemblage, the stage is set for an M&A deal in the next quarter or so.
-We believe management is likely to sell the company as part of the expanded strategic review and not pursue alternative going concern options which we would oppose vigorously.
- L&B has a position in AIV. (2/2)