RE:Selling offAuto REIT owns assets where land value appreciates as they collect rent at a profit. The car dealerships are usually several acres in size and in high density, desirable areas of large centres. Large enough for a developer to buy the property and build up. Eventually these car dealerships will be leveled and turned to high rises which is when the cash cow exposes its head.
carbide wrote: Looks like a block of shares is being auctioned on worries over the Oakville pleas to the province, and that it will hold up the development.
Endless waves of immigration. Acute shortage of developable land. Which one is going to break?
If the city wants to preserve this as a park, commercial logic dictates they pay fair market value. For 227 acres of prime urban real estate, 107,000 sf office and 69,000 sf retail space, along with a housing development consisting of 3,222 units, how much is that?
Highland Park valued at 40M net to their 83%. Seems low for 158 homes and 114 multifamily units. That's only the first phase?
Another project in Kanata.
A couple of Florida courses on the block for circa $40 million.
Pretty reasonable cash flow multiple here, 20x. How much is the redevelopment value?
One thing I wonder about, what does Rai see in the Auto REIT?