American Hotel Income Properties REIT 6 00 Convertible Unsecured Subordinated Debentures T.HOT.DB.V

RE:cibc analyst: target US$ 3.75, NAV US$ 4.25

[Capharnaum]

Note that the 125k/key in the NAV estimate reflects the pandemic, as the kind of properties that AHIP possesses should be worth over 150k/key. In that sense, as we get out of the pandemic, NAV should increase significantly (at least 20%).