Think about itDream office this year could cancel 50% of their shares (25 million) for 50% off, because of the strength of the DIR units . Most reits have trouble funding a measly NCIB.
25m x $32nav/ share = 800 million
25m x 15.5 = 387m cost.
They saved/added 400 million in value back to the reit by the public market disalllocation.
Group mache could buy it fully after sib2 for $30/ share under a billion dollars total . Crazy they walk away with core downtown portfolio which I'm sure they're craving after eglin from hr