A new deviantart painting of Ramsey Campbell's Gla'aki, finished 4 days before Campbell's birthday (Today)
https://www.deviantart.com/gomro/art/The-Inhabitant-of-the-Lake-902328641
In terms of NOD, I only played Tiberian Dawn, so I wanted to see what you guys think.
If you haven't seen yet- there is a yellow warning for Glasgow for heavy snow on Tuesday :0
I'm an American flying home early Weds morning (whole rigamarole of COVID testing involved)
I'm wondering how GLA usually manages with snow? Are flights often cancelled/ delayed? If Glasgow gets a few cm on Tuesday are the roads cleared up fairly quickly?
Thanks so much! Probs getting ahead of myself with a weather forecast this far out...
Artis REIT (AX-UN.TO) I wrote about recently, but has since released its financial results. I was pleasantly surprised they surpassed my $17 NAV target to hit $17.40 NAV. Below I outline the path to $20 NAV, possibly by the end of Q1 reporting. If not, Q2. It is important to note that a sizeable chunk of Artis is Industrial, while Office is being slowly sold. Samir's history with industrial REITs should not be ignored.
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Gross Leasable Area
48.8% of Artis' Gross Leasable Area (about 9.5M sq feet) is currently Industrial. An incredibly fast growing area in high demand with rising rents. Artis has been focused on Industrial, and continues to focus on its development here. Even after Artis sold off the majority of its GTA Portfolio for $750M, it still is the REITs largest footprint (was 54.3% before sale, now 48.8%.) Artis also has all their Calgary office space up for sale (nearly 700,000 sq feet). Some sales should be announced this year, which will only help shift Industrial to become over 50% of GLA again. In addition, around 1.469 million square feet of industrial is in development. Industrial will soon be well over 50% of GLA again, and clearly this is the path Artis is taking. We should view Artis as an industrial focused REIT long term, with a shrinking office segment, and smart management who is aligned with unitholders. Artis' new vision is to close the NAV GAP, currently at $17.40, and insiders with their 29% ownership have put their money where their mouth is. Samir and Sandpiper continue to buy units regularly.
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Industrial Valuation
After selling $750M in Industrial, well over its $550M IFRS value, we can easily see the 36% upside in industrial asset value. If we take the 1.5B left in industrial, add 30% upside(slightly lower than the 36% upside realized from their recent sale) to be the likely market price, and we can achieve a roughly 2B valuation on industrial today, vs 2B in Office, 200M in Residential, and 700M in Retail. Doing some simple math, it's easy to see how undervalued Artis is trading today. At 17.40 NAV, and 11.6X trading price, it can be viewed as nearly no value is being put on their Office Portfolio. If you are investing in Artis but have concerns about Office (which they have good assets and good tenants IMO), then don't worry, as we are not really paying much for it anyways.
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Sandpiper's History with Industrial
For those that are
... keep reading on reddit β‘
Does anyone know if the SQRF displayed on sites like Zillow, Redfin, etc. is taken from the exterior of the home?
My understanding is that is how SQRF is calculated, and GLA is taking the interior into account.
When unstaking the deposited ICE I receive GLA.
However, there is not a way in the webapp to transform the GLA to ICE.
Could somebody provide some insights? Thanks
I KRUMPED EM ALL (DA FISH FINGS KRUMPED DA 'UMIES BUT I KRUMPED DA FISH FINGS. ALSO I KRUMPED DA SPIKY BEAKIES AN' DA METUL 'UMIES)
DEN I GOT OFF DA WURLD CUZ DA STORY WANTED ME TEW
IT WOZ FUN
HI,
I am patiently waiting for the 2 epoch timeframe to go by. But this does not seem to happen. I initially thought, that 2 epochs might equal the timeframe of 16 hours? Is that correct?
The Warmup Balance is locked for two days now and nothing changed. Could it be, that the claiming and autostaking process from the bonds will reset the Warmup Timer?
Thanks and take care.
Can anyone recommend a bike rack for this vehicle? No hitch, prefer truck mount.
