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

600k volume

[garyreins]

GO EDGEPOINT! LIVING ON THE EDGE!

[garyreins]

Oct 20, 2023 1:19 PM 6.00 - - 299,800 TSX TD Securities Inc. TD Securities Inc.

[EstevanOutsider]

New buyer today with Desjardins taking nearly 500,000 shares. Seems like multiple interested parties (TD-Edgepoint, BMO block buyer ?, Desjardins ?)

[DZtrader]

Hey Este, thanks for the updates. If you don't mind, I am curious as to your personal opinion on these positions? Opportune investments or something much more significant? Arguably some sizable manuevers here. Interesting if nothing else, unless they get unwound, which is starting to seem questionable??

[EstevanOutsider]

DZ Trader, I am just speculating and think there are a few different funds who have bought large positions in the past several months. We know the TD guys were/likely continue to be Edgepoint based on my own math, I had that buyer at or above 10% and here we are - possibly deeked out by Manji by missing the window on filing the deletions and showing an artificially high unit count? That's

[garyreins]

I don't think edgepoint would speculatively buy 60m dollars of artis because of strategic review announcement.  Maybe Joyce and them were part of some high level discussions leading up to the official announcement as I'm sure manji would have liked the big cats input on changing direction.  

[Catchtherally]

Have you looked at Edgepoint on sedar? They have early warning releases just about every month. I believe they manage 24billion. 60-70 million is a pretty small investment for these guys 

[DZtrader]

Fair enough and thank you. I very much appreciate and respect your thoughts and opinions. Indeed it is encouraging to see large scale interest from these entities. The old addage "where there's smoke, there's fire" comes to mind here, but it does remain speculation, until it isn't. Part of the reason I took another flyer on Artis was because of the amount of skin the insiders

[EstevanOutsider]

Also with those Edgepoint guys,they hold the 2025 debenture in their monthly income fund. So they must be feeling pretty good to take an 11% position in the common equity. They are not "new" to the company and clearly have been following it for some time.

[Income]

Helpful insight. Thanks.

[DZtrader]

Thanks Este. So one might well conclude that they essentially would be comfortable just holding the position all things being equal with a potential upside should something larger scale pan out with regards to the review. Which truly is exactly where you should want to be anyways. My lingering concern would be is if some of these larger positions potentially getting unwound in the event of a non