Dream Office Real Estate Investment Trust T.D.UN

Its really simple

[SNAKEYBOY]

If shares are worth $32, sell it.  May not be very liquid office environment but Im sure a few of those hot downtown properties will have buyers

[Catchtherally]

You don't want to just sell the hot ones and be left with the junk. sell the whole thing to dam and Artis 50-50. Problem is it's such a discount to nav they are better off buying shares on the public market. Once the SP is ~26 then they can make a reasonable offer. 

[Reece1986b]

D.UN is trading at a 62% discount to NAV on the office portion (excluding the DIR.UN stake) if my math is right.   D.UN NAV = $33.15/unit $33.15 NAV x 47,185,382 outstanding D.UN units = $1,564,195,413 NAV   DIR.UN NAV = $17.05/unit $17.05 x 26,604,306 DIR.UN units owned by D.UN = $453,603,417 NAV   D.UN NAV excluding DIR.UN stake = $1,110,591,996 NAV  

[Catchtherally]

Yes it's a very good deal but that doesn't help them solve the nav gap. 

[SNAKEYBOY]

Asset sales would help fund a NCIB indefinitely and/or a SIB is also reasonable at these prices for $18-20

[Catchtherally]

It's even more simple. Don't sell for less then 25. Who keeps selling at decade lows. 

[Reece1986b]

At the 4:10-4:45 minute mark of the Bloomberg Michael Cooper video interview, Cooper goes on to explain the relative unimportance to the bottom line of the Western Canada assets.  At the 5:00 minute mark, Cooper says that they are going to look at every asset and see if there are opportunities to make the company more valuable around the edges. Maybe some more Western Canada asset sales in

[Catchtherally]

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