Artis Real Estate Investment Pref Shs Series E T.AX.PR.E

Office Conversions -- YES PLEASE!

[babybunny]

I still think Manji is a clever strategist.  I suspect that a condition of the sale will be that the Winnipeg office properties be converted to residential or some other use.  This would be a smart move as it would reduce the overall Winnipeg office vacancy rate and would thereby bolster the value of Artis's six remaining WInnipeg office buildings.

The genius move would be if Manji is driving a coordinated conversion plan with Winnipeg municipal authorities and other large office landlords.  This would normally be considered anti-competitve behaviour, but nobody seems to get bent out of shape since there is such a glut of office space, and office owners benefit while the rest of society gets much-needed residences.  This is a big opportunity for Artis to get creative and make its own luck.