TSX:TNT.UN - Post by User
Comment by
EstevanOutsideron May 07, 2024 10:06pm
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Post# 36028090
RE:RESULTS!
RE:RESULTS!looks fine. not 'strong' but no negative surprises. writedowns were minimal in q1 and it seems they have been absorbed in the space. vacancy in nova scotia (halifax) should be filled as the market is stronger than elsewhere there; calgary's defense contractor who left still leaves a void but that's an industrial-office in a business park. the upcoming smuckers vacancy in markham looks like an easily sellable building, likely at a good or higher prices than acquisition. smuckers paid an early termination fee last quarter to reduce lease by 6 years.
90% occupancy is still damn good. they were quick to unload the obsolete asset in ottawa and forward looking at getting rid of the smaller custom built government propties in ontario while strong leases are still in place.
credit facility will be repaid with asset sale proceeds reducing net debt & interest costs.