True North Commercial REIT T.TNT.UN

Alternate Symbol(s): TUERF

True North Commercial Real Estate Investment Trust (the REIT) is a Canada-based unincorporated, open-ended real estate investment trust. The REIT is primarily focused on creating value for unitholders through the investment in and ownership of commercial properties in Canada. The REIT’s primary objective is to maximize total returns to its unitholders. Its returns include a stable, reliable, and tax-efficient monthly cash distribution as well as long-term appreciation in the value of its units through the effective management of a portfolio of commercial properties. The REIT owns and operates a portfolio of about 40 properties consisting of approximately 4.6 million square feet in urban and select strategic secondary markets across Canada focusing on long-term leases with government and credit-rated tenants. Its properties include 36 and 38 Solutions Drive, 500 Beaverbrook Court, 61 Bill Leathem Drive, 675 Cochrane Drive, and 1112 Fort Street, among others.

TSX:TNT.UN - Post by User

True North Commercial REIT > several properties sold in q1 2024

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Post by EstevanOutsideron Mar 19, 2024 6:14pm

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Post# 35941751

several properties sold in q1 2024

all above the implied trading valuation of around $190 psf to my speculation.

251 Arvin Avenue located in Hamilton went for $384, nearly twice as the implied value of TNT and arguably one of the least desirebable portfolio holdings.

the 1020 68^th Avenue Northeast, Calgary, Alberta did not renew, we knew that as it's listed on the avison young for rent.

to my understanding, it's mixed use zoning so more desireable than pureplay office in a highly occupied part of calgary.

overall, the results look good to me and they continue to prove the reit is undervalued by maintaining a high occupancy & selling old assets at premiums.

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