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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 > TNT Distribution cut or suspension
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Comment by EstevanOutsideron Nov 10, 2023 1:38pm
155 Views
Post# 35728934

RE:RE:RE:RE:TNT Distribution cut or suspension

RE:RE:RE:RE:TNT Distribution cut or suspensionit isnt comparable to HOT but people think it is. TNT has high quality properties and one of the vacant ones is currently for sale which will be very accretive to the unit price when sold. Most of their properties are smaller which will make them more liquid should they decide to sell more assets in a worst case scenario. Staggered maturities and a well covered maturity with little refinancing risk. Oh I talked to Starlight VP Finance & CFO in the past month as well and things are progressing well - including releasing, mostly to government and high quality investment grade tenants.

HOT was a debt bomb with detoriarting fundamentals, rising costs and very imminent maturities which would have reset at twice the amount. Their properties are also execpted to see substantial writedowns which would have exceeded their allowed covenant ratios.


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