Quote:
Originally Posted by damaaster
I apologize if this has already been discussed/answered, but I saw someone post on reddit a while ago that Artis was planning on selling 300 or 360 Main Street in Winnipeg. I read the transcript from their most recent call, and although I did see that they were selling some assets, I haven't been able to find anything concrete on either 300 or 360 Main Street in Winnipeg.
In one of their investor presentations, where they talk about selling off assets there is a picture of the Winnipeg building - but I didn't see an actual mention of it.
Can anyone confirm this?
*edit*
I found it in the msot recent investor presentation:
300 Main: Non Core asset. Artis owns no other residential real estate and value can be realized by selling all or a portion of such densification projects where zoning and entitlements are in place.
Source: https://www.artisreit.com/wp-content/uploads/2018/11/Q3-18-Investor-Presentation-v5-3.pdf (page 22) |
I think if this is directly mentioned in the presentation, it is going to be sold. And this presentation/brochure is so nice!
I'm not an insider of this, but I believe this move can be beneficial. Selling this asset to a more dedicated residential real estate entity will probably lead to even better management.
And, if the buyer is an entity from another city, like Vancouver/Toronto and such, it will probably let the outside have a closer look at downtown's residential market. If 300 Main performs well, the buyer will probably demand more development in our downtown.
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