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

RE:RE:RE:A lot to do about not so much!

[Frankie10]

I think a recession will cause the central bank to drop rates, and yes, I believe Artis will perform well in a low interest rate / recession environment given the % of variable/unhedged debt ~25%), and long weighted average lease term (~6 years?)... Assets with long WALTs will cashflow and the cost of capital will instantly fall.

I sense a lot of stress. Many here need to chill out. So much industrial exposure here. Everything is going to be fine. Manji has been focused on the debt all year.

Sell assets ($250M), repay debt without tapping credit facility, sell more assets ($150M+), small SIB (~$50M) to bridge gap between NCIB renewal, perhaps SIB the prefs and/or the commons, keep buying back cheap prefs with effective yields north of 10%,  pause all future development (retain cash flow), reaffirm the distribution, keep opportunistically selling assets. Conclude review.