RMR Multiple Steady But Banks More Stringent, Says Kelly Bond
***** ********** ********' ********** ****** *** same ** *** **** *+ *******, but ***** *** *** ******* **** stringent,***** ****, ******* ******* ******* & ************ ********* ****.
**** ***** **** **** ** ****** understand ****** ** *** *&* ********* of *** ******** ******* ********.
*******, ****** ****** ******** ***** *** ********* Alarm *********, **** ****** **********.
Unchanged ********
**** **** **** **** *** ********* of **** ** ***** ********** ********** have ****** ** *** *** - 38x ***** ****** *** *******:
********* ** *** **** *** ******* dramatically ** *** ** (**+) ***** in *** ********. **** ********* **** somewhere ** *** *** – *** range *** **** *** ************. ***** are ******* ******** **** ** **** about ** *** ****, *** ***** transactions *** *** *********.
*** ********* **** ******* *** *********** of *** ******* **** *** **** 2 *******, *** ******* **** **** has **** "****** ******":
*** ******* **** ****; *** ** my ***** ** *** ********; **** have ****** ****** ******. **'* ****** bizarre *********** *** *********** ** *** economy **** *** **** ** ***** but ****'** ****** ****** ******.
**** *** *******, **** ****, ** the **** ** ********** ****** *** interested **:
**** *** ******* **** **** ** the **** ** ********** **** ****** are ******* ***. ***** ***, *** hot *********** **** ** ** **** businesses *** ***** ******* ********** ********. Buyers *** ********** ******** *** ******* for ***** ******** ******.
The **** ** ******* ** *** ***** *** **** ****** ** **** * ********
**** **** **** ***** ********* ********* have ****** *** **** ********** ** the ******* ******** **** ***********, ** has ******** ***** ***** ****** *** taking ** *****:
***, ********* *** ******* *** ****** of ******** ***** ** ***** *****. In **** *****, ****** **** ********* the **** ** ******* ** *** great *** **** ** **** * purchase.
Banks *** ******** **** ********* ** *** *********
**** ********* ** ******* ** ***** a ***** ****** ** ****** ******* financing **** * **** ******* *** bank *** *** ********* **** ** the ****** ********' ***:
**** **** ******** **** *** ** my *******. **** **** ***** ** the *****, [* ******** ***** ***] had * ******** **** *** ******* about ** **** **** *** ******* that **** **** ******. **** **** using * ****, ** ******** ****.
**** ** ******* *** *******, *** dealer[the ****** ********] *** * ****** of ********* ******* ******* **** ** was *******. ** *** ****** ** a *****, ** **** ******* *** of *** *** *********, *** *** weeks ****** *** **** *** ******** to *****, *** **** **** **** to *** ***** *** **** ** do *** ******** *****[**** ** *** accounts] ** ** ******** ***.
**** ******* ********* **** *** *****-**-***** short ******* ****** *** ******** ****** up *** **** ********** ** *** target's ******* **** *** ******* *** those **** ****** **********:
***** **** ******** **** **** ** a *****-**-***** *********, ***** *** ** auto-renewal ** ***** ********, *** ** only ******* ******* *** *** **** said **, **'** ******* ***** ***. Also, **[*** ****** ********] *** *** large *******. *** *** ***** ** locations *** ******** ******** ** ********* locations. *** ***** *** *** ***** 100 *********. **** ** ***** ** had *** *** ***** ***** ********. He *** *** *** *******, *** the **** **** **** **** ** was *** *****.
*** *** ** * ******, [*** bank] **** **'** *** ***** ** fund * ****** *********** ******* ** the ***** ***.
** *** ** **** ********* *** diligence, ******** **** ************ **** **** the ***** *******:
** ******** ** ****, ********* *** terms *** *** ****, [*** ****] went **** ** *** *****, *** rates **** ********, *** **** ****** very ****. [*** *****] *** **** nervous, ****** ** *** ******** **** up ******* *****, [**] *** *** be **** ** *** **** **** back.
** **** **** ********* ***********, **** buyers *** ******* ***** *** ******** as *********** ** **** *** *****, Bond ****:
*** **** *** ** ***** ***** own ********. ****** *** ***** ***** own ******** ** ********** ** **** to ** **** ** **** * bigger ********* ****. ****'* ******** *** most ******.
40% ** ****** *** ***** *****
***** ***** ******* & ************' *******, 40% *** ***** "**** **** ** debt," **** ****:
**** ***** ** *** ******* ******** we **** ***** *** ** *** diligence, * ***** *** ***** **% are ***** **** **** ** ****.
******* [***** **] **** ******* ** their ******* **** ************ [** ***'* know], ******* **** ** *** **** of *** ****** ** **'* * national ***** [** **] **** *** have **** ***** ** ********* ****.
**** ****** **** ** ***** ****, buyers ********* ******* **** ** *** deal **** **:
* ***** *** ** **** *****, there's ***** ** ** * ****** big **** ** *** ***** ***** to *** * ****. [**] ** probably ***** ** ** * ****** significant **** ** *** ****'** ****** the ********.
*******, **** ***** ***** *** ***** this *** ***** ******* ****** ** put **** *********** **********, **** ****:
****** **** **** *** ****, *** buyer ** ***** ** **** ** have **** **** ** ********** ******* the ***** ***'* **** ** ***%. They're ******* ** * ******** ***** is ******* ********* ** *** *** 20x *****.
"Game *******" ** ***** ****
**** **** *** **** ** ****** on ********* ********** ******* ***** ****** on **** ** ***, ****** **** as * "**** *******":
* ** ******** ***** ** ** every **** ***. * **** ** know [****] ***** ** [*** ****]. Are ** ******* **** * ****? Because ** *** ** * ****-*******.
***** **** ******* ******* ** ********* the ********** **** * **** ** involved:
* **** * **** ***** *** that **'** ***** ***(****** ** ******), *** *** ***** ** ******* to ****** *** **** ** ****** with *** ****. ***** ****** ** plenty ** ******* ******* *** **** companies *** *** ** ** **** to ******, *** **'** *** **** of ******* **** ***** ****** ***** his **** *******.
When ******* **** ** *****, ***** *** **** ** * *******
**** **** **** **** ******* ******** are ******, *** **** *** **** to ***** ***** **** ** ****:
** ** **** **** * *** of ** *****. ** **** *** thinking ***** ** **** *****.
PE ****** *** ******** ****** **** ********** ~**% ** *** ***** ****
******* ****** *** ******** ****** *** the **** ******** ****** *** *** alarm ********** ******** ** *** *****, Bond ****:
******* ****** *** ********, ******* * would *** **** **'* ***** **% v.s. **%.
***** ** **** * "**** ***** pool" ** ******** ******, **** *****.