Dream Office Real Estate Investment Trust T.D.UN

It's on: COOPER VERSES MANJI

[EstevanOutsider]

Dream Unlimtied filed they were buyers of +148,600 shares last week.

Sems like the race is on.

Greasy how Dream put out that release dispelling reasons behind jump when they were one of the largest buyers driving up the unit price. lol.

Intriguing. I'll prob add more tomorrow.

[Frankie10]

This post has been removed in accordance with Community Policy

[EstevanOutsider]

lol, in any case i find it questionable but happy to see DRM buying such a large amount. i think it will be good for us but i agree, this is very questionable ethnically and possibly legally. cooper being a lawyer probably knows how to walk a fineline...

[Frankie10]

Checked with my boy at OSC - he said it's grey but legal. Cooper has no ethics or morals so those things should not be mentioned in the same sentence as Cooper. Cooper has a reputation of only looking out for himself... continues to live up to that reputation. 

[colombuss]

If Artis deploys proceeds from SIB, it could provoke Cooper. Manji and Cooper cheated us shareholders by both participating fully in SIB. Hard to believe this was not coordinated. Artis heavy buying might be seen as a breach off this possible protocol. And Dreams recent purchase will hardly be the last. We now have 2 heavy buyers, with inside knowledge on valuating properties in this difficult

[EstevanOutsider]

artis just sold poco place in port coquitlam (office-retail) to condo deveopers for a very large sum apparently rumored to be around $100 million. they know all about dream office's residential zoning potential, especially on the cusp of a federal budget which could drive activity regarding densification. not a surprise both parties are buying. dream office has trophy locations that are worth

[garyreins]

I think DRM is buying to fend off Manji activism. I mean, they only had like 6 months to buy sub $10 and didnt until artis bought aggressively for a few weeks and caught their eye

[colombuss]

Great usefull info again. They apparently bought it in 2010 for 48 mill cad, fully leased, at a 6,7% caprate. Its in one off the bigger retail areas in greater Vancouver. So if its available for redevelopment, its a highly desireable location. Well, iff confirmed, I dint find any confirmation, Artis is, with their other sales, in a good position to increase their shareholding in Dream Office, I

[colombuss]

Did they remove it from website? https://www.artisreit.com/office/poco-place/ Search didnt help.

[EstevanOutsider]

Poco Place is gone as are several more Winnipeg office sites. They actively removed them from their website. Manji keeping the good news within Artis while buying back units everyday.

[Northforce13]

There is also the possibility, unpopular to voice, that Manji has motivation to purchase excessive amounts of D.UN since he pockets a 0.5% management fee on shares purchased and held by Artis.  

[Frankie10]

Hey Northforce - Samir will likely continue buying Dream, not just because your very valid point (I raised it in the Artis board over a year ago), but because the leverage of Dream Office allows Samir to scale up Artis' business at the proportionate ownership level in terms of assets, using proceeds from asset sales, which delevers Artis at the entity level. Explained in the following post

[FlightTime]

Excellent post, Frankie!  Always appreciate your insights. The jockeying for position in Dream Office has become part soap opera and part character study... Either way, it's pretty entertaining and I think we will all benefit at the end of the day.

[colombuss]

Revolting, but positive.