RE:Wake upI think the H&R deal this year on Dockside Drive in d/t Toronto for $485 per square foot ($285 million overall) and the Bay Street deal in early 2023 from Dream Office ($590 psf) is more relevant. We can also look at other deals such as the one Morguard did a few weeks ago in d/t Ottawa at 181 queen street for around $500 psf or $121 milllion
in my view, it's pretty crazy that dream d/t portfolio is valued at mid $300s, last i looked it was $332.
we can up the value to $450 and literally double our market cap here.
i think the coming sale of 438 university which should go for around $500 psf or $150-165 million will help reaffirm that and push us higher.