Dream Impact 5 50 Convertible Unsecured Subordinated Debentures T.MPCT.DB

42M in Liquidity Surprise. My Target = $8

[InvestSmarter]

Better than I expected Q2 results.

Surprising 42M in cash liquidity coming, most of it in Q3. Ahead of management projections for 2024.

Reducing office exposure by ~100,000 square feet by selling 10 Spadina and 349 Carlaw. MPCT is mostly a residential REIT now with strategic office on long term government lease in ZIBI.

Sussex is the last non core office building, and occupancy increased to 77.8%, from 76% - Surprised me.

Every new project seems to be leasing up very fast, possibly ahead of schedule.

The stars are aligning for this one. Target = $8 = $143M Trading Market Cap vs $420M unitholder equity. NAV $23.45. $8 is a very low conservative target.

[DJ441c]

Agree   somewhat positive   but   NAV per unit  decrease of  a buck over  6/12 can't continue    they need to sell off significant  vacant land  to reduce debt quickly   to become profitable   if  can't get rid of more office at  NAV

[InvestSmarter]

Not much more office to get rid of. Just Sussex really. Berkeley is part of the 49 Ontario development. 49 Ontario is the inflection point. That will get rid of around 80M of debt as soon as the deal is signed, plus bring in liquidity of another 45M. Very rough numbers. Additionally, lebreton flats has started (less land Loans) Next is brightwater, as construction starts its removed from land

[DJ441c]

all   good  points     although  Mr. Market  giving results  a big ho hum     also  no Insider buys in over 6 months    would be nice to see some dconfidence  by management       So much conflict of interest with DRM parent