Slate Office REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 T.SOT.DB

RE:IFRS net asset value is $5.82

[Passerbuyer]

In this economy it would be reasonable to cut that in half to $2-3. Most recent sales were ~30% IFRS, probably of less sought after properties. REITS always overstate this number anyway. And this assuming SLAM doesn't take shareholders out to the cleaners, as we've seen time and time again.

No one is interested in office/commercial real estate post-covid. I think a more reasonable plan going forward is to convert some of these into housing as other cities have done. Zoning laws might be less restrictive now with the housing shortage.