RE:RE:RE:RE:RE:LISTENING TO CC NOWalso good to hear about the 1 million in square feet being sought by government, crown corp and tech tenanst in d/t currently. cooper sounded more optimistic on a recovery driven by office demand rather than residential conversions. reducing the distribution to preserve liquidity makes sense given the lack of respect for the yield. if anything do what tnt is doing with buying back instead given wide instrinsic value disconnect. they can have more options when they sell spadina or university properties plus a looming JV coming on 212 king street west in the next couple quarters.
overall it was a solid report. if sells off tmrw it's a buying opportunity in my viwe. already got hit when impact news came out so we'll see. i certainly didnt' hold it for the distribution which was clearly wavering. avoiding selling assets at bear market bottoms was wise and longer term should pay off for unitholders who hung on for the broader market/macro recovery.