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 > The potential strategy with Dream Office

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Comment by EstevanOutsideron Mar 05, 2024 8:29am

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Post# 35915282

RE:The potential strategy with Dream Office

i definetely don't think that is the plan. dream office divested non core properties for the most part to focus on a very specific part of d/t toronto's core. they have no interest in U.S. office assets even if they're good as artis has. i'm sure artis could negotiate the office assets to other U.S.-based REITs if they wanted out. but why sell counter cyclically? it's still a strong market...

i think manji is buying dream office because he recognizes how undervalued it is. trading at low $300s on the d/t core toronto portion on a square foot basis. "pre covid" price was closer to $600; HR just did a major transaction at $485 a few blocks away while Dream sold a Bay St property Jan. 2023 for $580psf. smart of artis/manji to average down on dream here. plus they get more power and influence, hopefully at some point soon, board representation...

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