Why wouldn't a fund do a leveraged buyout of an undervalued REIT?
The market cap of my publicly traded REIT is trading (and has been for a while) at about $5B less than our assets are worth. What's more, we are highly UNleveraged. I'm confused why a larger fund hasn't bought us out yet... it seems like it would be so easy to lever up, sell all the assets, liquidate the company, and come away $10B richer. I know it's more complicated than that, but still. I don't think my REIT is alone in being so undervalued. I'm just curious why companies don't buyout undervalued REITs more.