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 is primarily focused on creating value for unitholders through the investment in and ownership of commercial properties in Canada. 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 owns and operates a portfolio of about 40 properties consisting of approximately 4.6 million square feet in urban and select strategic secondary markets across Canada focusing on long-term leases with government and credit-rated tenants. Its properties include 36 and 38 Solutions Drive, 500 Beaverbrook Court, 61 Bill Leathem Drive, 675 Cochrane Drive, and 1112 Fort Street, among others.

TSX:TNT.UN - Post by User

True North Commercial REIT

Bullboard Posts

Comment by predawnon Dec 04, 2018 2:08pm

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Post# 29062725

RE:RE:RE:RE:TNT finally fails us

7 posts below yours

hey paid $1.45MM in Q3 which represents a three-fold+ increase over 2017 and this indicates a qtky increase of more than $400K/qtr going forward. AFFO before this cash payment would have been $9.8MM so it is significant annuity being paid here.
I have said before several components are absolutely unwarranted and here:they are:

Starlight is entitled to the following fees pursuant to the Asset Management Agreement: (a) Base annual management fee calculated and payable on a monthly basis, equal to 0.35% of the sum of: • the historical purchase price of properties owned by the REIT (Yikes!) ; and • the cost of capital expenditures incurred by the REIT or any of its affiliates in respect of the properties owned by the REIT. (b) Acquisition fee equal to: • 1.0% of the purchase price of a property, on the first $100,000 of properties announced to be acquired in each fiscal year; • 0.75% of the purchase price of a property on the next $100,000 of properties announced to be acquired in each fiscal year; and • 0.50% of the purchase price on properties announced to be acquired in excess of $200,000 in each fiscal year.(Yikes again! and then add the following (wow!!!) (c) An annual incentive fee is payable by the REIT equal to 15% of the REIT’s FFO per Unit in excess of FFO per Unit for fiscal 2013 plus 50% of the annual increase in the weighted average consumer price index (or other similar metric, as determined by the Trustees) of the jurisdictions in which the investment properties are located. (d) Capital expenditures fee equal to 5% of all hard construction costs incurred on each capital project with costs in excess of $1,000 excluding work done on behalf of tenants or any maintenance capital
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