Core Viewpoint - Mackenzie Realty Capital, Inc. has established a new entity, MacKenzie Apartment Communities, Inc., focused on multi-family properties on the West Coast, which is currently wholly owned by MKZR [1][3]. Group 1: Company Structure and Valuation - As of January 1, 2026, MKZR has contributed its multi-family assets and development property to MAC, which is a stand-alone company [1]. - The Net Asset Value (NAV) of MAC has been determined to be $18.10 per share, based on appraisals and construction costs, with a potential range from $16.46 to $19.95 per share [2]. - The current portfolio of MAC includes 4 stabilized properties and one development project, with the newly constructed Aurora at Green Valley yet to be appraised [2]. Group 2: Future Opportunities and Strategy - The CEO of MKZR expressed excitement about the launch of MAC, highlighting options such as raising funds specifically for multi-family assets, merging with another multi-family focused REIT, or spinning off MAC shares to MKZR shareholders on a 1:1 basis [3]. - MAC is noted to have a clean balance sheet and favorable market conditions, indicating a positive outlook for its future [3]. Group 3: Company Background - MacKenzie Realty Capital, founded in 2013, is a West Coast-focused REIT aiming to invest at least 80% of its total assets in real property, with a portfolio that includes 50% multi-family and 50% boutique class A office properties [3].

Core Insights - The net asset value (NAV) of SUTNTIB AB Tewox decreased to EUR 45,679,457 at the end of December 2025, down from EUR 46,043,930 at the end of November 2025 [1] - The share price fell to EUR 1.0912 from EUR 1.0999 at the end of November 2025 [1] - The pro-forma internal rate of return (IRR) decreased to 3.42%, compared to the previously announced IRR of 3.72% at the end of November 2025 [1]

The Buy Thesis Gladstone Commercial (GOOD) is trading at a multiple that is far too low for its quality of earnings. Specifically, a 9X multiple implies low quality earnings or high risk while GOOD’s cashflows are quite durable. I believe the market is missing 2 key aspects of GOOD: Property quality (post transition) Tenant quality In this article we will exhaustively examine GOOD’s transition from a mostly office portfolio to 70% industrial. REIT transitions of this kind can have a wide range of outcomes ...

I'm partially on the same page as bears on FS KKR Capital's ( FSK ) discount to net asset value ("NAV") being justified on the basis of its elevated nonaccruals at fair value and increasingly weaker dividend coverage. However, the BDC grew NAV on aThe equity market is a powerful mechanism as daily fluctuations in price get aggregated to incredible wealth creation or destruction over the long term. Pacifica Yield aims to pursue long-term wealth creation with a focus on undervalued yet high-growth companies, ...

Core Viewpoint - NB Private Equity Partners (NBPE) reported its monthly NAV estimate as of 30 November 2025, highlighting a total NAV of $1.2 billion and a total return of 4.0% year-to-date [1][2]. NAV Highlights - The NAV total return (TR) for NBPE was 4.0% year-to-date, 4.1% over one year, 9.5% over three years, 59.2% over five years, and 164.9% over ten years [3]. - The MSCI World TR showed significantly higher returns, with 20.6% year-to-date and 223.3% over ten years [3]. - The share price TR was 4.3% year-to-date and 235.1% over ten years, indicating strong performance compared to the FTSE All-Share TR [3]. Portfolio Update - The NAV performance was primarily driven by private company valuations, with a total of $157 million in realizations received year-to-date and $23 million deployed in new investments [4][5]. - The NAV per share was reported at $27.67 (£20.88), with a total return of 0.5% for the month [6]. - Approximately 92% of the valuation information was based on Q3 private company data, with private investments appreciating by 1.3% on a constant currency basis [6]. Share Buybacks - In November 2025, approximately 695,000 shares were repurchased at a weighted average discount of 24%, resulting in an NAV per share accretion of approximately $0.12 [11]. - Year-to-date, NBPE has repurchased around 2.9 million shares for $57 million at a weighted average discount of 26%, contributing to an NAV accretion of approximately $0.48 per share [11]. Investment Opportunities - NBPE has a strong pipeline of investment opportunities, particularly in mid-life co-investments and co-underwrite opportunities, supported by $289 million in total liquidity as of 30 November 2025 [8][9]. - The liquidity comprises $79 million in cash and liquid investments, along with a $210 million undrawn credit line [9]. Portfolio Composition - As of 30 November 2025, 78% of the portfolio was invested in North America, while 22% was in Europe [13]. - The industry distribution of the portfolio includes 20% in Tech, Media & Telecom, 19% in Consumer/E-commerce, and 19% in Industrials/Industrial Technology [13].

ATHENS, Greece, Dec. 22, 2025 (GLOBE NEWSWIRE) -- Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”), a ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, announced today that at September 30, 2025, pro forma for the Company’s registered equity offering completed on December 1, 2025, the Company’s management estimates Imperial Petroleum Inc’s Net Asset Value (“NAV”) to be $508.03 million. This translates to a NAV of $11.38 per common share currentl ...

Core Insights - The net asset value (NAV) per unit of the Baltic Horizon Fund decreased to EUR 0.5446 at the end of November 2025, down from EUR 0.6783 as of 31 October 2025, indicating a decline in the Fund's value [1] - The total net asset value of the Fund at month-end was EUR 78.2 million, a decrease from EUR 97.4 million as of 31 October 2025 [1] - The fair value of the Baltic Horizon Fund portfolio decreased to EUR 208.7 million as of 30 November 2025, down from EUR 224.5 million as of 31 December 2024, primarily due to changes in discount rates, exit yields, and projected investments [2] Financial Performance - The Fund generated consolidated net rental income of EUR 1.0 million in November 2025, consistent with the income reported in October 2025 [3] - As of the end of November 2025, the Fund's consolidated cash and cash equivalents amounted to EUR 5.7 million, a slight decrease from EUR 6.0 million as of 31 October 2025, with EUR 4.3 million restricted for use under credit agreements [3] - The total consolidated assets of the Fund were EUR 217.2 million at the end of November 2025, down from EUR 238.0 million as of 31 October 2025 [3] Valuation Insights - The decrease in portfolio value was attributed to changes in discount rates, exit yields, foreseeable occupancies, and projected investments into tenant fit-outs [2] - The summary of property valuations will be published on the Fund's webpage, with more detailed information to be provided in the quarterly report [2]

Core Insights - OFS Credit Company, Inc. has announced an estimated net asset value (NAV) per share of its common stock to be between $5.01 and $5.11 as of November 30, 2025, which is subject to change based on future evaluations [1] - The company primarily invests in collateralized loan obligation (CLO) equity and debt securities, aiming to generate current income and capital appreciation [3] Financial Condition - The NAV estimate is unaudited and does not reflect the company's comprehensive financial condition for the month ending November 30, 2025, and may differ from future NAV estimates [1] - The financial condition and results of operations may be significantly affected by various factors, including interest rate changes, inflation, geopolitical tensions, and economic instability [1] Company Overview - OFS Credit is a non-diversified, externally managed closed-end management investment company, with its investment activities managed by OFS Capital Management, LLC [3] - The company is headquartered in Chicago, Illinois, with additional offices in New York and Los Angeles [3]

GREENWICH, Conn., Dec. 11, 2025 (GLOBE NEWSWIRE) -- Oxford Lane Capital Corp. (NasdaqGS: OXLC) (NasdaqGS: OXLCP) (NasdaqGS: OXLCL) (NasdaqGS: OXLCO) (NasdaqGS: OXLCZ) (NasdaqGS: OXLCN) (NasdaqGS: OXLCI) (NasdaqGS: OXLCG) (the “Company,” “we,” or “our”) today announced the following net asset value (“NAV”) estimate as of November 30, 2025. Management’s unaudited estimate of the range of the NAV per share of our common stock as of November 30, 2025, is between $16.34 and $16.64. This estimate is not a compreh ...

Core Insights - The initial success of Bitcoin treasury companies has reversed, with many trading below net asset value (NAV) by late 2025, raising questions about whether this is a temporary dislocation or a structural reprice [1][13][24] Group 1: Market Dynamics - A new class of public companies has emerged, focusing on raising equity or debt to invest in Bitcoin, leading to significant market capitalization but also creating a disconnect with traditional operating businesses [2][5] - Total capital inflows into Bitcoin reached $661 billion since January 2024, with spot ETFs accounting for approximately $34 billion (5.2%) of that flow, indicating a shift towards institutional demand [4][5] - The introduction of fair value accounting by the FASB in late 2023 has allowed companies to evaluate Bitcoin holdings similarly to equities, removing previous impairment charges that distorted financial reporting [6][7] Group 2: Corporate Strategies - Strategy (formerly MicroStrategy) pioneered the model of issuing convertible debt to acquire Bitcoin, leading to a cycle of capital raises and asset accumulation [8][9] - Other firms, such as Metaplanet and KindlyMD, have followed suit, raising significant capital to invest in Bitcoin, with KindlyMD raising approximately $763 million [10] - The trend extends beyond Bitcoin, with companies now mandated to accumulate tokens tied to specific blockchain networks, creating persistent buying pressure [11] Group 3: Reflexivity and Valuation - The market has experienced a reflexivity trap, where trading above NAV allows for accretive issuance, but trading below NAV leads to value destruction and halts accumulation [12][16] - By 2025, many treasury companies faced significant discounts, with some trading at over 90% below NAV, driven by shifts in sentiment and macroeconomic conditions [13][14] - Execution quality has become a differentiator, with markets now distinguishing between firms perceived as competent and those with governance concerns [15] Group 4: Future Outlook - The survival of treasury companies hinges on their ability to navigate the current discount cycle, with early signs of stabilization observed in some firms [21][22] - Macro conditions, such as potential interest rate cuts, could influence the ability of these companies to raise capital and stabilize their valuations [22] - The industry may see consolidation, with stronger firms acquiring weaker ones, as management teams must demonstrate value beyond mere asset custody [23][25]