Chris in Canada 🍁

Focus: Energy markets #OOTT, Public real estate
Trying to be ahead of the curve.
Everything I write is original.

[Chris in Canada 🍁 @tsxman]

@pjreddy Mimicks my thoughts. I believe he has a seperate buyer lined up for Jackson Park hence the sudden writedown adjustment. Also the California property and maybe something in Austin as he has singled that one out. Agree especially on NCIB procrastination.

[Chris in Canada 🍁 @tsxman]

38% portfolio weight for me currently on $Hr.un. I guess Blackstone is back.

[Chris in Canada 🍁 @tsxman]

Over the past week I consolidated my #REIT exposure by adding more $HR.UN which feels like by far best-risk-reward in space. Did initiate a $CAR.UN position but brought it down to ~3% pf weighting after second thoughts. Wanted to add more to a couple big US food space $KHC $CAG.

[Chris in Canada 🍁 @tsxman]

@skippy991 This is my view 100% as well.

[Cole Smead @Cole_Smead]

Lots of REITs don’t make sense in public markets. They lack scale and aren’t efficient as they should be. They also got involved in too many different asset types. Cap rates are lower in private markets too. HR-U is a good example of that.

They have now disposed assets to focus their capital base. Like other recent buyouts with mutli-family housing, private markets value them more highly than public markets.

[Seyed Abbas Araghchi @araghchi]

The Islamabad Memorandum of Understanding has never been closer. Pending its finalization, the media should refrain from entering speculation about its content.

In line with our responsible and transparent approach, all details will be shared with the public in due course.

[TSX Dividends @TSXDivStock]

RBC analyst comments on $HR.UN. I still think there is good upside from here. The units hit a high of $12.77 last summer after initial discussions with suitors came to light, and as RBC notes, conditions to sell have improved since.

[Chris in Canada 🍁 @tsxman]

@Rocky46215911 I don't have a timeline. Hofstedter alluded to something brewing on the last call so I assume by EOY so I'll roll with that. Probably already had something in mind with Blackstone given their interest/process of last year and finetuning since.

[Teddy “Trican-Jesus” Gambino @TeddyGambino]

$CFW

Armoyon sold 4.35m today lvs 16.65M, looks like he’s on the way out. https://t.co/NXB1bqDEVr

[Chris in Canada 🍁 @tsxman]

https://t.co/CkcgGxslq2

[Chris in Canada 🍁 @tsxman]

$MRC.TO issues 4.3% 'unsecured' debentures to redeem 9.5% debentures issued a few years' ago. That's what the end of commercial real estate looks like just like all the gurus on Twitter predicted over the past few years. One of the names I may cycle more capital into this year.

[Chris in Canada 🍁 @tsxman]

@mark_ledain @TSXDivStock Better stay on sidelines then. Value well backstopped in my view. I'd buy more if I wasn't already long in size.

[Chris in Canada 🍁 @tsxman]

@Mr_Neutral_Man Thanks, knew when you bought in it was a good omen. Second 'likely' big Canadian win for you after $Drr.u. Fingers crossed.

[Mr Neutral Man aka "Howard Marks of REITs” @Mr_Neutral_Man]

Blackstone again looking to buy another REIT

Thx to Canadian REIT guys like @tsxman pounding the table on this one

[Chris in Canada 🍁 @tsxman]

@AncientSion @PiotrPon $HR.UN is almost entirely US residential (Class A) and very strong remaining Canadian, mostly GTA, Class A industrial portfolio. US res is 5% cap & Canadian industrial is max 5.5%. Remaining offices are liquid & land may be sold. Implied cap is around 7.4% right now. 📈🚀

[Chris in Canada 🍁 @tsxman]

@AncientSion Pretty impressive! Congrats. I think Hofstedter can score $15+ if he sells Gowanus and Caledon lands as he noted ont he call before the industrial and retail. Blackstone pay decent prices and $HR.UN has best in class stuff.

[Chris in Canada 🍁 @tsxman]

@AncientSion That's how I got ahead in life and compounded the wins.

[TSX Dividends @TSXDivStock]

Woohoo! $HR.UN

[Chris in Canada 🍁 @tsxman]

@BubleQe @steve_hanke @anasalhajji @trend_bullish @AssetTraveller @RazorOil @energyburrito I think oil headed for a multi year surplus when smole clear with significant price pressure. . Near-term is a guessing game Nymex gas multi year bull market with buildout of NAM LNG