True North Commercial REIT T.TNT.UN

Alternate Symbol(s): TUERF

True North Commercial Real Estate Investment Trust (the REIT) is a Canada-based unincorporated, open-ended real estate investment trust. The REIT’s primary objective is to maximize total returns to its unitholders. Its returns include a stable, reliable, and tax-efficient monthly cash distribution as well as long-term appreciation in the value of its units through the effective management of a portfolio of commercial properties. The REIT is focused on creating value for unitholders through the investment in and ownership of commercial properties in Canada. The REIT owns and operates a portfolio of approximately 44 properties consisting of approximately 4.8 million square feet in urban and select strategic secondary markets across Canada. Its properties include 9200 Glenlyon Parkway; 36 and 38 Solutions Drive; 1595 16th Avenue; 855 8th Avenue SW; 5775 Yonge Street; 6 Staples Avenue; 845 Prospect Street, and 551 King Street.

TSX:TNT.UN - Post by User

True North Commercial REIT > Everything is UpsideDown now.

<< Previous

Bullboard Posts

Next >>

Comment by wheeloffortuneon Jul 10, 2023 5:50pm

144 Views

Post# 35534398

RE:Everything is UpsideDown now.

They sold the building below purchase price because Corrections Canada wouldn't renew the lease and it was too dated and expensive to get it into a condition that it would rent. I saw a picture of it on googlemaps. It looked tlike junk compared to a lot of the modern looking glass buildings they have in great locations listed on their website. The all glass buildings are way easier to rent. But, those 50s and 60's architecture buildings were horrible looking buildings. I'm seeing universities and municipalities tearing down these buildings all time to build something completely new in it's place because it isn't worth rehabbing. Crazy would have been holding the carrying costs on an empty building for years. They did the best they could with it. The only crazy thing was buying it in the first place, but I suspect it was a package deal in a complete portfolio with a bunch of other really great looking glass buildings as that's how Drimmler usually operates.

CrazyTrader wrote: You would think the value of the real estate assets would be going through the roof given all the inflation.

Yet, I believe TNT recently sold a building significantly below purchase price.

Just CRAZY.

All just my opinion/view/thinking