Founder at Stock Spin-off Investing, Stock Spin-Off Investing

Richard Howe

After graduating from Trinity College in Connecticut, I joined Eaton Vance full-time as an equity research associate. While at Eaton Vance, I completed the Chartered Financial Analyst program and earned the CFA designation. In 2013, I left Eaton Vance to join Citi Private Bank to work in the private equity research group.

Founder at Stock Spin-off Investing

Stock Spin-Off Investing

Generate attractive returns by taking advantage of inefficiencies in the stock spin-off market.

Stock Spin-offs

Event-Driven

NET Lease Office Properties / Event-Driven

<ul><li>NLOP just declared a $3.10 special dividend, funded by cash from asset sales.</li><li>The company has zero recourse debt, $78M cash, and continues to sell properties well above the market’s implied valuation.</li><li>In Q2, NLOP sold a vacant building for $81/sf and a JPMorgan-leased asset for $143/sf at a 12.1% cap rate.</li></ul>

NLOP just declared a $3.10 special dividend, funded by cash from asset sales.The company has zero recourse debt, $78M cash, and continues to sell properties well above the market’s implied valuation.In Q2, NLOP sold a vacant building for $81/sf and a JPMorgan-leased asset for $143/sf at a 12.1% cap rate.

NET Lease Office Properties

NLOP Update; Liquidation on Track