My summary of Artis notesfor anyone interested:
- sold office properties in saskatchewan
- sold retail in alberta
- four assets under unconditional assset, expected to close in 2Q, prices in line w/ IFRS values ($110M)
- number of dispositions months ahead
- unsoliciated inbounds of buyers, seeking to buy across asset classes (usa/canada)
- 300 main: early july first tenants; overwhelming positive view from public
- significant progress on leases, 30 or 40 july 1; ramping up from there; 200 suites first phase, balance later
-last 2Q of 2023 and into 2024.. stabailized occupancy end of 2024
- proforma noi
- renovating, upgrading iverness AT&T to accomodate multiple tenants, high quality space
- 4 million to renovate iverness over 2-years, 1.7 million this year
- not a one horse race, we have multiple buyers for assets
- near-term vs back-ended impact of dispositions
- 8% debenture give or take
- will extinguish it if they can get lower rate
- retail, industrial, office, unsolicitated inbound calls from random buyers (private)
- cap rates low close to cost of capital
- opportunity today to transact and see positive net effect looks certainly appealing
- madison office market is "wonderfully resilient"
- "one chief competitors" in madison, more competetive & higher quality of asset/team
- under "no pressure" to sell public securities, will review dream prospectus with board