LongBeen adding to HR.UN at +/- 10 recently
Over discounted, well managed
It will reprice at some point during their transition
Personally I'd rather they only sell if they get a great offer instead of chasinge XYZ category of building depending on market popularity.
3-4 years from now, they might be done selling off the office just when apartments run into a big glut for some reason and become unpopular, while office capacity has been slashed and becomes popular.
I prefer Morguard for this reason. They just sold some hotels for above book value, shrewd move.
I own both.
GLTA!