Author Topic: Time for some proper due diligence/ independent auditing in our communities  (Read 208498 times)

Offline avromie7

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Re: Time for some proper due diligence/ independent auditing in our communities
« Reply #1140 on: November 15, 2023, 10:05:41 PM »
These pronouns are confusing me.
"They" remaining unscathed is referring to the scammers? Weird terminology
Yes
I wonder what people who type "u" instead of "you" do with all their free time.

Offline aygart

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Re: Time for some proper due diligence/ independent auditing in our communities
« Reply #1141 on: November 15, 2023, 10:48:59 PM »
These pronouns are confusing me.
"They" remaining unscathed is referring to the scammers? Weird terminology
Pronouns are very confusing these days.

We need a thread for aygart typos
Feelings don't care about your facts

Offline yomo

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Re: Time for some proper due diligence/ independent auditing in our communities
« Reply #1142 on: November 20, 2023, 04:46:08 AM »
And due to investor infighting they were able to thwart any management change for a large portion of the properties and remain unscathed in those.
Is this R and K?

Offline knowitall

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Online yfr bachur

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Re: Time for some proper due diligence/ independent auditing in our communities
« Reply #1144 on: December 03, 2023, 04:12:32 PM »

Offline Danlover111

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Re: Time for some proper due diligence/ independent auditing in our communities
« Reply #1145 on: December 03, 2023, 04:14:18 PM »
Not going to dox him, but he was quite active here once upon a time...
lol

Offline yelped

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Re: Time for some proper due diligence/ independent auditing in our communities
« Reply #1146 on: December 03, 2023, 10:25:36 PM »
Not going to dox him, but he was quite active here once upon a time...
Seems like part of this article was justed posted here today. :)

Great article.

Offline jye

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Re: Time for some proper due diligence/ independent auditing in our communities
« Reply #1147 on: December 04, 2023, 01:03:55 AM »
I’ve seen hundreds of OMs in the last few years. In early 2021, When I saw folks using floating bridge debt, I knew it was high risk, but I knew some people wanted that. Projecting that rates would move up slightly was a reasonable expectation. But I saw the same in 2022, even as the Fed was starting to hike! I saw syndicators underwriting that rates would rise 100bps, while Wall St was expecting 200-300bps. (And now we got 500bps!)

I also saw many predicting 10%+ rent growth year over year, even in the face of a lot of new supply.

In summary, nobody can predict the future, but if you underwrote realistically, nobody can have complaints.

But if you underwrote egregiously, and now you are doing capital calls or giving back the keys (and screwing your unpaid vendors), you should never be taking OPM.
And the sharks are beginning to circle:
https://viceroyresearch.org/wp-content/uploads/2023/11/Arbor-Slumlord-Millionaires-16-Nov-2023.pdf

Of course, they are trying to cash in on their short position in the stock but the narrative is not implausible.
« Last Edit: December 04, 2023, 02:02:55 AM by jye »

Offline MiInvstr

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Re: Time for some proper due diligence/ independent auditing in our communities
« Reply #1148 on: December 11, 2023, 03:52:27 PM »
And the sharks are beginning to circle:
https://viceroyresearch.org/wp-content/uploads/2023/11/Arbor-Slumlord-Millionaires-16-Nov-2023.pdf

Of course, they are trying to cash in on their short position in the stock but the narrative is not implausible.
Sounds like another Ningi report.. Meanwhile they announced a $150m share repurchase program today and the stock is up 3.63% now.

Offline UKinNYS

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Re: Time for some proper due diligence/ independent auditing in our communities
« Reply #1149 on: December 11, 2023, 06:34:30 PM »
As soon as I saw this I was please GD hope it was a NYCHA building (notoriously bad) but NO its mishelanu, hope lessons are learned and chillul Hashem is minimal.
https://www.nytimes.com/2023/12/11/nyregion/bronx-building-collapse.html

Offline ari3

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Re: Time for some proper due diligence/ independent auditing in our communities
« Reply #1150 on: December 11, 2023, 10:22:39 PM »
And the sharks are beginning to circle:
https://viceroyresearch.org/wp-content/uploads/2023/11/Arbor-Slumlord-Millionaires-16-Nov-2023.pdf

Of course, they are trying to cash in on their short position in the stock but the narrative is not implausible.
Sounds like another Ningi report.. Meanwhile they announced a $150m share repurchase program today and the stock is up 3.63% now.
Insiders buying shares, rating agency affirming their ratings and the company initiating a repurchase program are not thing usually associated with a company in distress. Something isn't adding up.

Additionally shorting a stock with a 12% dividend yield is very costly.

Offline dealfinder11

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Re: Time for some proper due diligence/ independent auditing in our communities
« Reply #1151 on: December 16, 2023, 07:59:48 PM »
Anyone know what's going on with Meridian?

Lotta rumors flying around. Don't feel comfortable stating them as i have not confirmed them. But wowzers.

Offline AsherO

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Re: Time for some proper due diligence/ independent auditing in our communities
« Reply #1152 on: December 16, 2023, 08:42:45 PM »
Lotta rumors flying around. Don't feel comfortable stating them as i have not confirmed them. But wowzers.

Beyond what has been posted up thread?
DDF FFB (Forum From Birth)

Offline jye

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Re: Time for some proper due diligence/ independent auditing in our communities
« Reply #1153 on: December 16, 2023, 09:02:04 PM »
Insiders buying shares, rating agency affirming their ratings and the company initiating a repurchase program are not thing usually associated with a company in distress. Something isn't adding up.

Additionally shorting a stock with a 12% dividend yield is very costly.
The insider purchase was all of 400k and the repurchase authorization was just that- an authorization. They don’t have to buy back a single share.
https://www.wsj.com/finance/investing/property-crash-draws-short-sellers-better-late-than-never-66ac7850

Offline MiInvstr

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Re: Time for some proper due diligence/ independent auditing in our communities
« Reply #1154 on: December 16, 2023, 10:00:32 PM »
The insider purchase was all of 400k and the repurchase authorization was just that- an authorization. They don’t have to buy back a single share.
https://www.wsj.com/finance/investing/property-crash-draws-short-sellers-better-late-than-never-66ac7850
Where do you see 400k? Ivan Kaufman bought over $900k ($912,450) in November from what I see.

Offline jye

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Re: Time for some proper due diligence/ independent auditing in our communities
« Reply #1155 on: December 16, 2023, 10:04:27 PM »
Where do you see 400k? Ivan Kaufman bought over $900k ($912,450) in November from what I see.
Went by the news article that put the amount at 400. I see you are correct.

Offline MiInvstr

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Re: Time for some proper due diligence/ independent auditing in our communities
« Reply #1156 on: December 16, 2023, 10:18:46 PM »
Where do you see 400k? Ivan Kaufman bought over $900k ($912,450) in November from what I see.
Having said that. He should have received over 1.5 million dollars in dividends last month. So he didn’t even reinvest all his dividends back into the company.

Offline dealfinder11

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Re: Time for some proper due diligence/ independent auditing in our communities
« Reply #1157 on: December 16, 2023, 11:01:38 PM »
Beyond what has been posted up thread?

way beyond. Rumor is someone notable was wearing a wire (not a Meridian employee).

Offline DaasTora

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Re: Time for some proper due diligence/ independent auditing in our communities
« Reply #1158 on: December 16, 2023, 11:52:51 PM »
way beyond. Rumor is someone notable was wearing a wire (not a Meridian employee).
Employer?
“In G-d we trust; all others must bring data”
- Edwin R. Fisher

Offline dealfinder11

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