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

Alternate Symbol(s): ARESF | T.AX.UN | T.AX.PR.I

Real Estate REIT - Diversified

Artis Real Estate Investment Trust is an unincorporated closed-end REIT based in Canada. Artis REIT's portfolio comprises properties located in Central and Western Canada and select markets throughout the United States, including regions such as Alberta, British Columbia, Manitoba, Ontario, Saskatchewan, Arizona, Minnesota, Colorado, New York, and Wisconsin. The properties are divided into three categories: office, retail, and industrial. The industrial properties account for most of the portfolio, followed by the office properties and the retail properties.

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Artis Real Estate Investment Pref Shs Series E > DREAM OFFICE

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Comment by Reece1986bon Mar 03, 2023 6:43pm

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Post# 35318747

RE:RE:RE:DREAM OFFICE

FCR is too big for Artis/Sandpiper to ever acquire without bringing in multiple other parties like was done with Cominar. Dream Office is the perfect size for Artis after selling off the Dream Office $400 million investment in DIR. Downtown Toronto office assets owned by Dream Office nicely complement the Artis portfolio which has very little exposure to Ontario. The discount to NAV on Dream Office is almost 50%. The discount to NAV on FCR leaves very little margin for error and very little room for profit given the price to acquire it would be considerably above where FCR trades today. Just doesn't make sense in my opinion. I'm not sure what Samir was thinking.