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

Alternate Symbol(s): ARESF | T.AX.UN | T.AX.PR.I

Real Estate REIT - Diversified

Artis Real Estate Investment Trust is an unincorporated closed-end REIT based in Canada. Artis REIT's portfolio comprises properties located in Central and Western Canada and select markets throughout the United States, including regions such as Alberta, British Columbia, Manitoba, Ontario, Saskatchewan, Arizona, Minnesota, Colorado, New York, and Wisconsin. The properties are divided into three categories: office, retail, and industrial. The industrial properties account for most of the portfolio, followed by the office properties and the retail properties.

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Artis Real Estate Investment Pref Shs Series E > Net Asset Value Discussions

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Post by garyreinson Oct 06, 2023 1:25pm

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Post# 35673519

Net Asset Value Discussions

I would like to bring in light some discussions regarding offices listed for sale.

"Looks like a 9.5% cap rate on the Arizona office"

"Artis is selling Iverness for $21 million ($50 million less than 2016 purchase price?). That's only $80 psf! Seems quite low"

Does their $16.20 NAV reflect these marked down prices? Probably not. What about the BELL buildings, and other less-than-stellar office properties? Is Artis management acknowledging their NAV is artificially inflated, and now determined to have a liquidation strategy with the goal to come out with $12/13 a share in the near-term? It may appear so.

p.s. This is NOT snakeyboy. Please do not associate me with that vile creature!

-gary

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