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No. of Recommendations: 1
They aren't protected from liquidation if there is a merger or 'other corporate action', so paying >10% over the liquidation value is a concern to me.

There is a "Special Rights Upon a Fundamental Change" read the prospectus. I read it in some cases it is good and some it is not so good.

You have a right to convert into common stock at any time. So, if the company is taken out you can immediately convert and sell the common, assuming the take out is at higher price.

Now, if the share price is lower, merging with a publicly listed company, the preferred's would continue to be listed and you can live with that.

On the other hand if it is taken private, you are in a very bad situation whether it is A or B, because you can be waldon-ed, for those who require their memory to be refreshed see "Am Trust". In that case 10% premium is hardly the worry.

Maybe, maybe not. Given the bull run that we've pretty much been in for years, assuming that any REIT is going to hit a hurdle rate, even 3.25%, for the next 4 1/2 years seems a bit optimistic

Lot many smart people were predicting market downturn for over 5-7 years, and similar predictions were on interest rates, so, I am not going to make any assumptions. However, any downturn may not last for 4 or 5 years and so far the prices have re-bounded with vengeance (see recent one in Dec). So don't make assumptions on market crashing is my take.

Winter may be coming in Game of Thrones and preparing for it may be the best thing for the "seven kingdoms" but for investors that's a bad thing.
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