Post by
InvestSmarter on Sep 24, 2024 10:49pm
Several new material unannounced updates in News release
Here are the major points:
MPCT owns 50% of Zibi. This land is very PRIME, as Zibi is right next to the Ottawa senators new arena being planned, and is waterfront. The senators announcement will greatly increase the value of our Zibi Lands as I mentioned earlier when the Senators and NCC announced it.
- 1 Million Potential Development Density. 3.27 Acres is up for sale. (Retail Center? Medical Center? Hockey Training/healing Center? Theatre?). What is this site worth?
- 2 Buildings with 440 rental units will be started in the next 12 months on other lands we own in Zibi. This is very material news, as it will move our debt on the lands into CMHC debt at rates below 3% (from current 6-7%). We did not know about these 2 new buildings previously (Although expected we would continue our rental builds here)
These two moves will further substantiate Dream Impact's distribution reinstatement in 2025.
Comment by
mikoola72 on Sep 25, 2024 9:46am
Thank you very much for the informative posts it's greatly appreciated.