TSX:WRK.DB.K - Post by User
Comment by
canadafanon Dec 05, 2009 9:30am
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Post# 16557049
RE: white rock reit very stable/equity investment
RE: white rock reit very stable/equity investmentYour question re percentages not matching up. The 2 recent properties are bought with partners.
One of which is mentioned in the NR.
WRKs position is 40% in one building and 20% in the other.The partners hold the rest.
WRK will provide the management and rental services for the JV, this is one way they are able to generate the AFFO which is being reported.
Rioan has done many similar deals with Kimco, and recently the Pension plans.
Most of the larger pools of $$$ want to be passive investors. So rather than dilute the units by issuing part ownership of the company as a whole.
They dilute the ownership of the acquired properties...keeping back first refusal rights.
hope this answers your question