Artis Real Estate Investment Pref Shs Series E T.AX.PR.E

RE:I believe Artis will turn the corner when...

[Reece1986b]

Sandpiper fee is 0.5% per year on public market REIT investments held by Artis. That will amount to at most $2 million in annual fees if Sandpiper balloons their REIT investments to $400 million this year (e.g. 0.5% of $400 million each year). 

It is almost a meaningless sum compared to how much money Samir himself and Sandpiper have lost investing in Artis. I think a SIB makes a lot of sense even if it needed to be funded by selling the public market REIT investments Artis has made. The lower the unit price goes, the more and more sense it makes to sell quite literally whatever can be sold at a good price (assets, investments) in order to capture the NAV discount available through unit repurchases.