True North Commercial REIT T.TNT.UN

RE:Debt Ratio & Mortgage Issues?

[EstevanOutsider]

their covenant allows up to 75%. i talked to starlight cfo last month (sept 30) and he told me they were not having refinancing issues. i think that should be reflective of the relatively low financing they secured in the 1H and into Q3 (low 6%). quite a bit of property was acquired by use of units which saved them IMHO from having more bank debt. they paid decent prices and periodically have been writing down certain assets while using conservative cap rates for valuation (6.75% on average)