RE:RE:RE:Dream Offfice...Frankie10 wrote: The upside of office is rezoning to multi res - the H&R team discussed this on their last call. I see Dream is doing this as well - huge positive in my eyes. You almost want a cheap, old office building with no tenants - rip it down and build a 40 floor master piece. Keep the office with 10+ year leases with solid tenants.
Dream Office's Financial District Toronto Assets are fully renovated and command a very high rent (and still rising). However, they have 3 mega projects.
Eglinton is a monster. 2.7Million Sq feet of new space, and keep existing office.
212 to 220 King is a 1.1M Sq foot development.
250 Dundas is a 500k Sq foot development (this is most likely the next one to be developed, mixed use.
The financial district office buildings can stay office. They are highly leased, and rent is rising. Their development properties are in excellent locations. Everything else outside of these developments and financial district can go, and there isn't much left to get rid of. It's hard to not like Ds assets especially as occupancy is actually rising now.