Port Moody ValuationThere is a significant amount of value that is going to be surfaced as a result of the sale of the Port Moody property to a developer.
On the conference call today, the CEO made it clear that they are looking to divest their interest for the right price. They also highlighted that these proceeds will be used to pay down their debt and invest in other growth initiatives.
The dividend is clearly sustainable here and about to get even more sustainable as the debt (and related interest) is reduced.
Anyone care to venture a guess as to what the value of this property is?