TSX:AX.PR.E - Post by User
Comment by
EstevanOutsideron Aug 30, 2023 7:20pm
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Post# 35612921
RE:RE:Come on people
RE:RE:Come on people i did not say artis could get $279 psf for their offices. not even close.
those 60s and 70s era offices seem to be going for $120-140 psf based on other sales ive observed which have been in even better markets. winnipeg is alot less glamorous the last time i checked.
the reit with much higher quality properties is trading at a 60% discount to nav now so maybe selling these old properties to buyback units and retire the remainder of floating rate debt is a huge win.
high grade the portfolio,
artis was seen as higher risk because of the floating rate debt. samir manji has done good so far at reducing the floating rate debt in 2023 while bolstering the nav with buybacks and improving debt metrics simontaneously. if he can surprise the market and retire the 2023 debenture in cash that would be incredible. onwards and upwards for 2024. kill the remainder of credit facility.