TSX:REI.UN - Post by User
Comment by
Covidruinedmeon Oct 29, 2020 9:34am
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Post# 31802393
RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Riocan sells assets at 3.5% and 4.5% CAP Rates
RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Riocan sells assets at 3.5% and 4.5% CAP Ratesthats what Im saying, but they are doing the opposite, as if they dont understand that real estate is all about location. and what do they do? they are selling their best locations to fund the lower quality locations. i take out debt at 2.2% you have 8.8 billion unencombered assets for what? keep all the well and eglinton and 3 other downtown locations residential they disposed of and instead of developing 4000 projects develep at a slower rate. its not like you are selling a new tech or a product and you gatta roll out fast and hard. your land you are developing is still going to be there for the next 200 years. slow down the development and keep the assets, issue debt , get rid of calgary and those dying places. what do they do? they want to be in real estate bussiness without taking DEBT at the lowest interest in the history! thats like saving cash to buy a house instead of taking out morgage. no wonder riocan is the only REIT trading at 50% NAV because the market is seeing what i see, SRU is at 30% nav, allied is at 20% nav , car.un is above nav. their rev hasnt moved in 4 years