Still no word on the special distributions from Artis, H&R, and Allied... I am hoping the non-cash component for Artis will be muted this year given the realized losses on marketable securities. That said, 1) the Dream Office non-cash distribution will need to flow through to us, 2) investment property sales have been material, and 3) REIT has no cash, therefore special dividend will have a very low cash component (if any).
If anyone has gone through the numbers, I would be very interested in your analysis/thoughts. I have seen an estimate for Allied at $1.5 to $2 per unit - not sure if any of the bank analysts shared similar thoughts for Artis. Thanks, Frankie.