Eleko, backed by Rhythm Capital, pursues asset value enhancement and restructuring
RITM Rithm Capital Corp
$8.55 -1.04%
View chart & analysis → - 1Rhythm Capital acquired Eleko in December for $1.6 billion.
- 2Eleko will use $250 million to upgrade its portfolio and attract new tenants.
- 3Eleko sold a 49% stake in 1301 Sixth Ave. in October, valuing the building at $1.3 billion.
So what's the key point?
Rhythm Capital acquired Eleko and decided to spend $250 million to improve its buildings. The plan is to increase the company's asset value by making the properties better.
Source Bisnow · View original ↗
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