The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Jenny Ma - BMO Capital Markets Equity Research - Analyst
: Hi. Can you hear me on?
Question: Jenny Ma - BMO Capital Markets Equity Research - Analyst
: Great. So Samir and Ben, just wondering, it sounds like basically everything is potentially for sale. But can you talk about what asset base you intend
to keep or you consider to be core? And part of the reason why I'm asking this question is, what are you looking for as the base to support the
distribution while also trying to maximize the value of certain parts of your portfolio?
Question: Jenny Ma - BMO Capital Markets Equity Research - Analyst
: Okay. Great. So when you're talking about capital allocation, does it mean the REIT is still going to be looking at potentially direct property investments
buying IPP? Or are you really looking to pivot towards more liquid investments and securities?
Question: Jenny Ma - BMO Capital Markets Equity Research - Analyst
: Okay. So on the value-add opportunity, is it fair to say that the first priority will be coming through the current portfolio to maximize that value
before you're looking externally for acquisition opportunities?
Question: Jenny Ma - BMO Capital Markets Equity Research - Analyst
: Okay. Great. And then my final question for now is, Samir, you mentioned that you're going to spend 80% of your time on Artis, but given the new
strategy, there is some overlap between Artis' plans and what Sandpiper has been doing in the last few years. So how do you propose to sort of
govern that relationship? And how do you prioritize what deal should be looked at through the REIT versus Sandpiper?
Question: Jenny Ma - BMO Capital Markets Equity Research - Analyst
: So should we view this more of like a consulting kind of an arrangement?
Question: Jenny Ma - BMO Capital Markets Equity Research - Analyst
: Okay. So can we expect to see more detail on how the governance is going to shake out down road?
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MARCH 10, 2021 / 4:00PM, AX_u.TO - Artis Real Estate Investment Trust Corporate Call
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