Artis Real Estate Investment Pref Shs Series E T.AX.PR.E

FCR

[Malpeque2]

It says Artis and Sandpiper "Group" together own 9% of FCR.      Since they can't make any stink at Dream Office that I'm aware of,  because Cooper and Dream U owns and controls a blocking stake,   they go down the line to their biggest and  next best thing. 

I assume the Industrial assets at Artis are going to close,   and we are going to pay down debt and repurchase a lot of stock with the net proceeds. 

Artis does have the bigger discount and lower valuation relative to FCR on NAV and Market Cap/FFO etc.  etc.    but it does not mean that they can't start shaking that tree too increase the value of the 9% position,   all else being equal.