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Bullboard - Stock Discussion Forum Slate Office REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 T.SOT.DB

Alternate Symbol(s):  SLTTF | T.SOT.UN | T.SOT.DB.A | T.SOT.DB.B

Slate Office REIT (the REIT) is a Canada-based global owner and operator of workplace real estate. The REIT is an unincorporated, open-ended real estate investment trust. The REIT owns interests in and operates a portfolio of real estate assets in North America and Europe. The REIT's portfolio is primarily comprised of government and credit tenants. The REIT's portfolio consists of... see more

TSX:SOT.DB - Post Discussion

Post by Northforce13 on Mar 08, 2024 3:10pm

Not much movement on sales

Thoughts: 

They are tight for cash

10% of portfolio isn't a lot.  Also the "sales" (rather "sale", singular connotation) are slow.  The CEO statement of being a "first mover" is deceptive to put it kindly.  If they were a "first mover" they would have already sold +/- 30% of their portfolio a year ago.  They not a "first mover".  They are a "forced mover". 

They are motivated to hang onto assets to generate fees for slate management.  This is and continues to be reflected in actions they take, including resisting Armoyan as best they can.

It is also possible that many of their properties cannot be sold because the price would be close to the debt owed on said properties, generating no net $ to address the leverage problem.

Everything said above pretty much reflects what others are and have said.
Comment by MARKOPOLIS on Mar 08, 2024 4:24pm
Agreed it's a fire sale ....sells have been below IFRS  it's in a liquidation stage 
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