Back in Minto & IIPselloff gave an opportunity to get back in. like the lower beta nature/defensive into macro weakness.
seems like resi is the new office (narrative wise)
headlines about immigration curtailments with students seemed to have hurt the space
canada is still a growth market for new people; plus huge gap in supply.
even if rent tapers out in some cities, leasing gains will continue to be huge.
rental upgrades gives minto / iip an opportunity to lock in higher rents regardless.
cmch financing.
5.1% implied cap rate on minto is a great entry point.
distribution hike likely coming in the next couple months as usual too.
overall risk reward very good here for a 20-25% gain in the next 12-months.
IMO!!