Artis Real Estate Investment Pref Shs Series E T.AX.PR.E

WOW FCR SAYS SANDPIPER PLAYING DIRTY

[SNAKEYBOY]

Who is telling the truth? Either way I am inclined to believe FCR a bit more....why wouldn't they want to restore value to FCR in a sensible way? Maybe there is a conflict of interest brewing with Artis.

[HermannHaller]

I just think every time Sandpiper/Artis puts out a news release about investing in another REIT, it's a reminder to investors that Manji is not 100% focused on the operations of Artis, and perhaps Artis units are not the most attractive investment opportunity. If he had got AX.UN trading up to anywhere near NAV, I would say ok, you've proved yourself, now invest elsewhere. But AX.UN is at

[SNAKEYBOY]

I agree...Artis cheapest reit on TSX, why would FCR shareholders vote for sandpiper control? Though to be honest, I agree with sandpiper that FCR should be more selective in what they sell to fund the NCIB, and just start with the lower growth assets if they can obtain FMV, and not just 1 billion of their well curated portfolio. So theoretically I agree that sandpiper's route sounds a bit more

[CatchTheDip]

I find it funny AX is trading at a bigger discount than FCR yet Samir is saying what a terrible job FCR is doing. However, Samir knows what he is doing, and it's probably being held low for a reason. AX should have cleaned up on D (buyout or whatever their plans are) while it is/was trading so cheap, but instead spread themselves thinner with a FCR project. Very odd indeed. We will probably

[CatchTheDip]

I should add, Samir is not committed to FCR yet. They only own 9%. They could dump FCR without even telling anyone/filing a notice and move on if they don't believe the investment will work out as planned. Their cost base is low so they may be able to close their holdings at a profit.