Post by
MARKOPOLIS on Feb 21, 2024 2:24pm
MOST IMPORTANT FROM TD BANK
Slate completed the sale of The Sheridan Exchange in Mississauga, ON for $19.2mm (~$160/sf but below its IFRS carrying value), and currently has another 10 properties (~$120.0mm) in asset sales under contract/negotiation (~12.7% of GLA).
the existing properties mortgages come due the lender will require additional equity ie downpayment just to offer renewal or the rates on the renewal will be excessive. These clowns have hard time issues stock
their NAV is nonsense and they know it. If they did a share consolidation it's possible the borrow rate would change on the short and the market impact ie bid ask spreads would widen and lead to larger drops
thats What paying $120 million in fees to SLAM gets you folks