TSX:AX.P.E - Post by User
Post by
SNAKEYBOYon Sep 12, 2023 9:35pm
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Post# 35632921
Artis
Artis Looking at the portfolio listed below, it seems very reasonable and likely that 50-60% of it can be crystalized at NAV in the short-term (3-6 months), specifically the industrial and retail. Though Im sure some office particularly a well leased building may also move. That would equate to ~1.5b gross. And to privitize the REIT (not including Joyce/Sandpiper) they would need $700m (70m shares for $10). They could fund a buyout with leverage first like Cominar. Then eliminate the overhead involved in a public reit and just sell assets and funnel themselves the money. I believe Manji has to get something done. Pure office reits may be in trouble due to not being very liquid, but artis has 1.5b in liquid assets, then add in whatever cominar and public securities may be worth as a bonus | Asset Class | Properties | GLA 4 | Occupancy 5 |
| Industrial | 37 | 2,570 | 96.6 % |
| Office | 13 | 1,888 | 84.5 % |
| Retail | 28 | 1,803 | 89.5 % |
| Total | 78 | 6,261 | 90.9 % |
| |
| U.S. Portfolio2 |
| Asset Class | Properties | GLA 4 | Occupancy 5 |
| Industrial | 15 | 3,063 | 100 % |
| Office | 27 | 4,362 | 87.6 % |
| Total | 42 | 7,425 | 92.7 % |
| |
| Total Portfolio | 120 | 13,686 | 91.9 % |