TSX:MRT.DB.A - Post by User
Comment by
slston Oct 28, 2021 3:00pm
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Post# 34060218
RE:RE:RE:RE:RE:The reason why this might be a value trap....
RE:RE:RE:RE:RE:The reason why this might be a value trap....
They do say they are in dicussions to renew. The parent company holds $60 million of the $175. I hope they do not offer a drastically lower conversion rate.
Besides the Burquitlam Plaza to build 2,175 residential units + 85,000 sq ft of Commerical Space, they are still repurposing Old Sears spaces in several provinces for new tenancts. That is taking a long time and making investors very impatient.
The short squeeze will only come if they make some meaningful progress with their new financings AND with their repurposing/releasing new spaces. Burquitlam Plaza is also potentially a huge pick up in Value that is not yet recognized.....its likely a few years ahead.