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

IDEA FOR MANJI

[SNAKEYBOY]

Why not try to sell 1/4 of portfolio in a fire sale...i.e. mark it down to get lots of buyers, $14/share.....with that cash reduce dead and do a massive TENDER auction of 15 million shares at $10.   That would rebump NAV to $17 and debt comes down, and much less float.

[SNAKEYBOY]

*reduce debt

[Frankie10]

Based on the call. Their focus is now debt management. Evidenced by the fact they are now net sellers of their public securities. Which, on a lot to lot basis, they should have plenty in the money units they can sell given the run up YTD in FCR. A lot of that price appreciation was likely due to Artis buying. Would be nice to dump everything with a lower basis on the market, manage debt with

[Reece1986b]

I completely agree SNAKEYBOY. Dream Office recently sold 565,000 units of DIR for $14.70 even though NAV was $16.97. Dream Office now has extra money to pursue unit buybacks, etc. Artis could do the same and dump FCR. Artis industrial properties at 90% NAV would sell rather easily. The entire Artis REIT is being priced at ~50% NAV so this would generate a lot of NAV if the money were used for

[SNAKEYBOY]

Frankie10 how  much total $ you willing to put in Artis in the $8's?

[Frankie10]

I got 8k units with acb of $9.10 and realized gains of $1k... 2k units on the bid down to $8.00.