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

RE:massive artis buybacks on commons + pref + insider

[Frankie10]

Just saw this on Twitter and thought it was a mistake... confirmed on SEDI - 52,600 e prefs @15.99; 2,700 i prefs @19.10 and 360k commons @ 9.95...

This is fantastic, assuming this is financed via property dispositions and not debt... hopefully dispositions continue at both the Artis level and Cominar level... some may think I'm negative, but I think rates will climb, which *MAY* push us to lower lows - I would love for us to have the capital to continue to act oppertunistically!

with $30M closed during Q1 and $190M deals done and expected to close in Cominar (per Cominar fs) - and what appears to be the instant disbursement of cash from Cominar to Iris - I would be curious to see what happens with the cash at the Iris level... is the plan to repay the high yielding prefs first? (These are redeemable by Iris)... this may explain the unrelenting NCIB and Manji's confidence on the call (starkly different than the call post audited financials).