Post by
garyreins on Aug 08, 2024 8:56am
CRAZY CONCLUSION
Not the outright sale I was hoping for given PDL and partners wanted to buy the reit out supposedly, but at least reasonable deleveraging that may support dividend and stabalize unit price
"The sale price of the REIT's UK portfolio represents a cap rate of 5.9%. Debt totaling C$690 million, with a weighted average interest rate of 7.9%, will be repaid with the net proceeds from the transaction. Management anticipates the transaction will be accretive to Adjusted Funds From Operations ("AFFO")(2) by approximately 6 cents per unit on an annualized basis."