42M in Liquidity Surprise. My Target = $8 Better than I expected Q2 results.
Surprising 42M in cash liquidity coming, most of it in Q3. Ahead of management projections for 2024.
Reducing office exposure by ~100,000 square feet by selling 10 Spadina and 349 Carlaw. MPCT is mostly a residential REIT now with strategic office on long term government lease in ZIBI.
Sussex is the last non core office building, and occupancy increased to 77.8%, from 76% - Surprised me.
Every new project seems to be leasing up very fast, possibly ahead of schedule.
The stars are aligning for this one. Target = $8 = $143M Trading Market Cap vs $420M unitholder equity. NAV $23.45. $8 is a very low conservative target.