"When you combine something that is not going to fetch a superhigh price, because it is a trophy asset
, with something that needs a bit of work in a brand like Kettle, which is still a fabulous brand even though it has been performing poorly recently, that is perfect for Valeo."
"Our sellers achieved an impressive $229,000 per unit average, and the buyers were able acquire a unique trophy asset
that still has upside in rents."
Shares of RH (RH) are on the rise on Thursday morning after Citron Research called it "the most compelling story in retail," and said it sees suitors lining up to buy "this rare trophy asset
with 0 competition." Citron set a $250 price target on the stock.
"This could be a trophy asset
for a high wealth individual or an investment for someone wanting to expand the business there."
Tenants at the fully leased trophy asset
include Elliott Davis, CB&I, Lennar Multifamily Communities, Guggenheim Real Estate and Hood, Hargett & Associates.
Designed by internationally acclaimed architects Philip Johnson and John Burgee, the 60-story, trophy asset
was completed in 1987 and incorporates a granite and aluminum curtain wall system with insulated glass, efficient floor plates, spectacular views and distinctive lobby walls clad with polished Botticino Classico marble and Rojo Alicante marble base and moldings.
Jamie Hockaday, of Graftongate, said: "Louisa Ryland House is a trophy asset
in the centre of Birmingham's central business district and will benefit greatly from the significant recent and ongoing development in the city, in particular Paradise Forum which is just a stone's throw from the building."
Alex DeGroote, an analyst at Peel Hunt, described the FT as "a classic trophy asset
" but played down reports of the valuation.
"Add to this the outstanding opportunities to further develop the already impressive profits, Lumley Castle represents an excellent trophy asset
and business proposition." The premier property has been in the same ownership for the past 43 years and over this time the business has enjoyed continued success and hosted countless weddings.
The usual answer is a billionaire seeking a trophy asset
. But print is now an obviously declining industry, threatening cumulative losses that would daunt mere billionaires.
"With the capital markets becoming increasingly more liquid, debt financing for a trophy asset
such as this has become appealing to lenders seeking safe financing opportunities," Comfort said.
Regent Street will be seen as a trophy asset