TSX:AX.P.E - Post by User
Comment by
CatchTheDipon Feb 28, 2023 10:51pm
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Post# 35311515
RE:RE:ROASTED
RE:RE:ROASTEDFrankie10 wrote: Per Page 30 of MD&A:
EQUITY SECURITIES EXPENSES
The REIT invests in equity securities of publicly-traded Canadian real estate entities. In connection with these investments, the REIT incurred commissions, service and professional fees of $1,890 (Q4-22 - $759) in 2022, compared to $186 (Q4-21 - $95) in 2021.
Included in equity securities expenses are fees paid to Sandpiper. Refer to the Related Party Transactions section of this MD&A for further details.
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Possibly as much as $750k of fees paid to Sandpiper just this quarter, not too shabby I hope this is brought up on the call tomorrow as I would love to hear his response. I'd like to know the corresponding costs incurred by Sandpiper and the net profit Sandpiper makes for providing these services to Artis. Given the related party nature, you would think this would be a fair question.
Page 56. Sandpiper got 878k in 2022. Would have been better just to buy back their own units, or focus on just Dream Office or ONE reit.