TSX:AX.PR.E - Post by User
Post by
EstevanOutsideron Jan 12, 2025 8:32am
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Post# 36399847
Melt down of Artis' floating rate debt
Melt down of Artis' floating rate debtLatest presentation shows it at $250 from $700 million in the quarter prior.
Manji has wiped out floating rate debt. Total debt down to $1.2 billion.
So basically if you believe retail and industrial can be sold at NAV, we get the office ($1.3 billion), 300 main ($175 million), dream and FCR investment, cominar (maybe ~$100 million) on our side of the equity. Pretty good value with significant upside potential from here.
If Manji can sell some US offices anywhere close to NAV that would really be a mover for the unit price.