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 > RBC Q3 Preview this AM 43% upside

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Comment by Frankie10on Oct 23, 2023 1:08pm

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Post# 35696602

RE:RE:RE:RBC Q3 Preview this AM 43% upside

I believe Artis' equity in Iris is worth nil. I also believe Artis' preferred units in Iris are worth their book value (approximately). Therefore the combined invest in Iris (Cominar) has a value in my view, and the approximate write-off on today's NAV would be equal to the equity investment in Artis' balance sheet.

As to why - I have written many essays here. I do a quarterly write up on Iris for everyone here (and myself - helps me organize my thoughts)... I would add, there have been meaningful sales at the Cominar level the past quarter, so I always caveat my opinion that it may change as the data changes (no crystal ball here).

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