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Boulevard industrial Reit (BVD.UN)
Cette discussion a été fermée.
Réponses
Voici le plan de conversion du Reit. Resume bien la transition qui devrait se faire.
http://www.marketwired.com/press-release/hht-investments-inc-mails-information-circular-regarding-reit-conversion-tsx-venture-hht-1877521.htm
Where can I get a copy
Started Dundee and Piret. Both are performing well.
Boulevard industrial Reit (BVD.UN)
Shareholders have approved all matters voted on at the special meeting of shareholders held on March 7. The Arrangement was also approved pursuant to a final order issued by the Ontario Superior Court of Justice on Tuesday March 11, 2014, but remains subject to receipt of final approval of the TSX.
La compagnie ne devrait pas donner de dividende avant d'avoir plus d'actifs comme mentionne ci-haut. Par contre, SI la compagnie commence a donner 0.023 de dividende au cours de la prochaine annee, je ne serais pas surpris de voir le titre toucher 0.30 $.
Je vais creuser aussi pour voir...
@ Phil Probablement que le symbole n'etait pas disponible parce que tu as choisi .TO plutot que .V
BOULEVARD INDUSTRIAL REIT AIMS TO BE A CONSOLIDATOR
Posted on May 8, 2014 at 9:23 pm by admin / News
Fresh off its qualifying transaction in late March, Boulevard Industrial REIT (BVD.UN-X) chief executive Scott Hayes sees unlimited potential ahead for his Toronto-based venture.
“The business plan is to be the institutional consolidator of industrial properties in primary and secondary markets across Canada,” he said.
That game plan, however, does not sound dissimilar to every other real estate outfit with a focus on industrial. Doesn’t everyone want to be a consolidator?
Not at the small end, apparently.
“It occurred to us that there are fewer people that are consolidating these one-off assets, these $6-million, $8-million and $12-million one-off buildings of which there are thousands across Canada,” he said. “We look at the fundamentals around the real estate, good tenants, well-located, the price per square foot is an important metric, we are buying these assets for below replacement cost, we like that.”
Veteran team
Hayes, an industrial real estate veteran (he was previously CEO and president of Dundee Industrial REIT and Pure Industrial REIT prior to that), sees a sector with an extremely diverse ownership base that makes it a buyer’s market.
“There are a lot of different owners of industrial. It ranges from pension funds to lifecos to other REITs, high-net worth families, a lot of owner-occupied space, some private deals,” Hayes said.
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Clearly, that huge host of owners have different priorities and agendas and some are willing sellers regardless of where the market is in the cycle.
“A bunch of different people own the asset class, which is good,” he said, “and a lot of it is in the hands of one-off individuals or companies and the properties might be valued at $5 million or $6 million.”
The REIT’s roots date back to last July, when the venture started out as capital pool company HHT Investments, with the initials standing for the three principals. Besides Hayes, there is Mark Hogan (a director and former vice-president, business development and general counsel) and Heidi Tibben, (former vice-president of operations with Pure Industrial) who has the same role with the new REIT.
Six-million-dollar man
While Hayes acknowledges there is competition in the industrial sector, he is banking on Boulevard being able to prosper in the sub-$10-million niche where the big guys can’t (presumably) bother to tread.
“Despite the fact that there are competitors in the space, many of them are also looking for the larger, call it $20-million to $30-million or larger, deal, where the yields get a lot tighter. So we think that we can make some money in the smaller space . . . I think it is pretty safe to say that H&R (REIT) is not going to go and buy a $6-million industrial building.”
Hayes expects it can do between $60 million and $100 million worth of acquisitions across Canada over the next year.
La premiere couverture est disponible sur le site internet :
http://www.boulevardindustrialreit.com/analyst-coverage/initiating-coverage/
Bvd.un a ete mentionne par Jerome Haas de Lightwater Partners sur BNN market call avant hier. Il aurait vendu du Pure industrial REIT pour acheter du Bvd.un