Added to YB: 2024-10-31
Pitch date: 2024-10-28
STHO [bullish]
Star Holdings
-40.25%
current return
Author Info
Company Info
Star Holdings engages in the non-ground lease real estate assets business in the United States. Its portfolio comprises Asbury Park Waterfront and Magnolia Green residential development projects.
Market Cap
$105.8M
Pitch Price
$13.02
Price Target
N/A
Dividend
N/A
Sector
Real Estate Management and Development
Category
special_situation
Star Holdings: Sugarman, Won't You Hurry?
STHO: Liquidating iStar assets at 60% NAV discount. Safehold stake, Magnolia Green development, Asbury Park waterfront. Undisclosed progress in property records. 40% IRR potential if original 4-year timeline met. Risks: real estate market, community opposition, opaque governance. Liquidation may extend beyond 1Q27.
Read full article (11 min)