In February, the board hired CFC Advisory Services, an affiliate of Cohen Financial, to advise the board on the value of the trust's assets and seek a buyer for them. The board says, that based on the sale price being discussed, net proceeds to shareholders might be approximately $6.20 a share upon liquidation of the trust.
The REIT's shares are currently selling at around $5.50, little changed on the news. Banyan has a market capitalization of around $78 million.
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