TSX:AX.PR.E - Post by User
Comment by
InvestSmarteron Aug 02, 2023 6:36pm
91 Views
Post# 35570063
RE:RE:Strategic review
RE:RE:Strategic review
EstevanOutsider wrote: Manji / Eodney noted last Q they had to spend $4 million to upgrade Colorado office property ATT vacated to accomodate multiple tenants. It is probably why affo is 100% in Q2
SNAKEYBOY wrote: Strategic review doesn't bother me and it is a lifeline that they could look to sell the entire reit... if it isn't just a ploy that "he's trying to close gap". Might just be smoke and mirrors with nothing being done. I'm concerned why affo is 0.15 as the high debt repayment and ncib should have propped it up as Frankie calculated. If it was the same result with affo at 0.17 to 0.18 I would be happier.
926.7M in Mortages and Loans secured against 4 Billion in properties.
High AFFO payout is due to unsecured debt. This is great if you are planning on huge asset sales by keeping properties unencombered. But hurts with higher cost debt until that happens.
If Artis is sold or privatized, the buyer would enjoy lots of unencombered nearly fully leased properties to sell at full NAV.
Artis is really setup well for asset sales from a buyer's point of view. There is a lot of money that could be made by a buyer.