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True North Commercial REIT T.TNT.UN

Alternate Symbol(s):  TUERF

Real Estate REIT - Diversified
True North Commercial Real Estate Investment Trust (the REIT) is a Canada-based unincorporated, open-ended real estate investment trust. The REIT is primarily focused on creating value for unitholders through the investment in and ownership of commercial properties in Canada. The REIT’s primary objective is to maximize total returns to its unitholders. Its returns include a stable, reliable, and tax-efficient monthly cash distribution as well as long-term appreciation in the value of its units through the effective management of a portfolio of commercial properties. The REIT owns and operates a portfolio of about 40 properties consisting of approximately 4.6 million square feet in urban and select strategic secondary markets across Canada focusing on long-term leases with government and credit-rated tenants. Its properties include 36 and 38 Solutions Drive, 500 Beaverbrook Court, 61 Bill Leathem Drive, 675 Cochrane Drive, and 1112 Fort Street, among others.


TSX:TNT.UN - Post by User

True North Commercial REIT > Everything is UpsideDown now.
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Comment by EstevanOutsideron Jul 11, 2023 9:42am
154 Views
Post# 35535195

RE:RE:RE:RE:RE:Everything is UpsideDown now.

RE:RE:RE:RE:RE:Everything is UpsideDown now.Frankie, the CEO owns around 13% of the REIT himself and added shares at a massive loss after Covid and also after the distribution cut. The director also added more than he receives in compensation. Tough to say they are not aligned with unitholders.

It may have only been 4 or 5 years since that deal, but the world has changed and downtown Ottawa's former business district has changed even more. Laurier is dead man's town now. Gone is the business boom and the OC Transpo buses. Totally different.

That Nanono building was a 60's era basic office building.

To get $165 per sq ft is not so bad. They presumably did it to cancel the mortgage.

They can buyback units now like Artis to make up for the value lost.
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