John Litt Finds Another Real Estate Target $FCH
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John Litt and his L&B hedge fund (up 25% last year) s now pushing Fel Cor ($FCH), the lodging REIT, for change. L&B thesis is that FCH needs to sell assets immediately - including its NYC hotels.L&B also wants Fel Cor to add new board members and de-stagger the board.
L&B says - "Land and Buildings believes a company sale or liquidation should be explored concurrently with other strategic opportunities."
L&B is also pressuring Northstar Asset Management ($NSAM).
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