OTCPK:HBAYF - Post by User
Comment by
99Reasonson Jan 01, 2020 6:53pm
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Post# 30509232
RE:Globe article
RE:Globe articleThere are a few aspects to that article. Firstly, it argues that rents are down, so it is not surprising the value is down. But, it doesn’t touch on why the value is down by half. Secondly, it really rejects repurposing because HBC is unlikely to abandon the building because it will want to keep Saks there. That is why the OSC has ordered that the circular contain the instructions to the appraiser. Did they consider repurposing? Real estate is a natorious inflation hedge. All other things being the same, simple inflation of 2% a year over the last 6 years gives you a 12% increase. The property could be a hotel or condominiums, or it could be a mixed use property. That location would be extremely value for condos.