Artis Real Estate Investment Pref Shs Series E T.AX.PR.E

Artis likely much less sensitive/risky to higher rates

[EstevanOutsider]

given they sold nearly $1 billion of assets since December with possibly more to come. Only the retail and industrial sales were known, not the offices including Poco Place which sold for around $100 million in Port Coquitlam. They have the Burnaby Kinkaid property which also has residential zoning opportunities (source AIF) for consideration that they could dispose of.

Overall I think Artis should be seen as significantly less risky, including on the distribution with these asset sales. I think they will likely run a SIB this year on the commons.

Also the abiltiy to sell USD-denominated assets in USA and buyback cheap Canadian debt/units is a great opportunity in my view.