Cominar Real Estate Investment Trust Unit T.CUF.UN

Primary Symbol: CMLEF

Real Estate REIT - Diversified

Cominar Real Estate Investment Trust is a Canadian REIT involved in the ownership and management of properties throughout the Canadian provinces. Cominar's real estate portfolio comprises a mix of office, retail, and industrial and mixed-use properties. While industrial and mixed-use assets are the most numerous and command the most square footage in the company's portfolio, office and retail locations combined represent the vast majority of the portfolio's total value. Most of Cominar's properties are located in the Greater Quebec City and Montreal areas. The company derives nearly all of its revenue from rental income from its investment properties. The source of this revenue is largely split between Cominar's office and retail locations.

OTCPK:CMLEF - Post by User

Cominar Real Estate Investment Trust Unit > 2.1 Billion Unencumbered Assets + $430 Million Cash

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Comment by AvInvestoron Apr 22, 2020 4:20pm

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Post# 30941354

RE:2.1 Billion Unencumbered Assets + $430 Million Cash

Don’t let the salesman fool you, liquidity position dire at $-131 million! Equivalent to their entire 2020 distribution! NAV is based on pre crisis valuations, which sould eventually adjust their liquidity figures deeper into the red. This company has 3 choices:

1) Cut the dividend and the stock will drop

2) sale assets at a discount, which should help bolster balance sheet, but mitigate the impact on the stock

3) Blend of option 1 + 2, which is most the sensible solution

Consider the following. Prime assets such as Rockland & Alexis Nikon will be closed for the foreseeable future. Delayed rents and closures will have a great impact on their CF & therefore balance sheet. They have no choice but to sell at least one or two core assets in order to survive.

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