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

Artis' credit facility debt plunges

[EstevanOutsider]

From $901 million in Q4 2022 to $513 million in Q2 2023. Big progress and will help on the variable debt front. Also the buybacks YTD are saving $3.6 million on future distribution payments not including the preferreds retired at a huge discount.

[DZtrader]

Hey Este, so why wave the white flag with the last resort strategic review? Buying time because of perceived weak quarter again in hopes of keeping a bid under the stock, all the while setting the stage for their own take over? That being the case, not sure strategic review was warranted.

[EstevanOutsider]

DZ, you never shared your detailed perspective on why this was a poor quarter. Aside from interest rates rising what exaclty is poor about it? Occupancy is holding up and leasing gains were made. Significant reduction of credit facilities with more asset sales to come. I don't see the review as a white flag but continuation of the promise Manji made on his 3 year plan to bridge the unit price

[DZtrader]

Hey Este, it's not the quarter per say, as I noted. It is the strategic review that so much caught me off guard. To me it feels like capitulation, like a last ditch effort to salvage some kind of muted value. I was surprised and dissapointed in that approach. I called it a cop out, out of sheer frustration that after years of questionable stratagy and execution that they would succumb to