RE:CAP Rate drop = Increased NAV, distribution increase?Also correct me if I'm wrong, but there's not a huge need for liquidity in 2022 right which would constrain the share buybacks? They were mostly done their large projects in Q1-22 with Shoreline/Hercules being finished and the two Canadian industrials finishing up.
That would mean they in theory have good amounts of free cash flow, especially with Jackson Park running at close to 100% now, even ignoring any possible asset sales of retail/office. So we can be looking at solid buybacks for 2022 on top of distribution increases.