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 > 19.1 MILLION NET PROCEEDS

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Comment by BlueJay2020on Apr 19, 2024 5:38pm

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Post# 35998968

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:19.1 MILLION NET PROCEEDS

The way I read the release, debt will be reduced by over $61M. $19M is the surplus after the related debt is repaid.

if these sales are representative of the whole portfolio (and you could argue non-core is worth less) debt repayment is not really an issue. There wiould be significant excess capital to be recycled or distributed to shareholders on liquidation.

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