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.

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True North Commercial REIT > several properties sold in q1 2024

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Comment by EstevanOutsideron Mar 19, 2024 10:39pm

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Post# 35942102

RE:RE:several properties sold in q1 2024

also looks like smuckers paid an early termination fee at 80 whitehall in market as the lease was reducede by about 6 years y-o-y. they had been trying to sublease it out for a while. maybe another easy property for tnt to sell this year.

they got hit on the solutions drive vacancy as lease was not expired but looking at q4 2023 halifax cushman report they should be able to find new tenants given where halifx office is...

it seems the smaller properties are still easy to sell. hopefully a drop in rates will open up the market more to larger transaction which would really help tnt here given where implied valuation is.

seems like it should be coming.

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