A $1.7 Billion Bet on Old Malls Is Pushing This Firm Past Rivals
The best returning real estate investment trust in Canada has made its money by offering the country's pension funds a way out of a type of property they don't want. And it's only getting started.
Primaris Real Estate Investment Trust has hoovered up old malls since its creation in 2022, striking more than C$2.4 billion ($1.7 billion) in deals. It's in talks for properties worth about C$4 billion, according to Chief Executive Officer Alex Avery, betting that by buying even more malls it can achieve a scale that helps it revive the buildings and generate cash to snap up more.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Washington Post
25 minutes ago
- Washington Post
Big changes are being proposed for a US food aid program. Here's a breakdown by the numbers
TPresident Donald Trump's plan to cut taxes by trillions of dollars could also trim billions in spending from social safety net programs, including food aid for lower-income people . The proposed changes to the Supplemental Nutrition Assistance Program would make states pick up more of the costs, require several million more recipients to work or lose their benefits, and potentially reduce the amount of food aid people receive in the future.
Yahoo
an hour ago
- Yahoo
Jim Cramer on Roblox (RBLX): 'I Think It's Terrific'
We recently published a list of . In this article, we are going to take a look at where Roblox Corporation (NYSE:RBLX) stands against other stocks that Jim Cramer discusses. During the episode, Cramer showed bullish sentiment toward Roblox Corporation (NYSE:RBLX) and called it 'terrific.' 'There's no real theme to the other stocks on the list… Then there are two one-offs, Roblox and Mosaic. The game of Roblox is something that fascinates kids. It may be too much for all I know, but the point is it's insanely popular. It's done nothing but go up ever since it was attacked by short seller[s]. I gotta tell you, I think that it's cleaned up its act. I think it's terrific.' Roblox (NYSE:RBLX) provides a platform for creating, sharing, and experiencing immersive 3D content, offering tools for developers and infrastructure services to support user-generated virtual experiences and real-time interaction. On March 22, 2024, Cramer said that he was waiting for the stock to take off and believed that 'it is taking off.' He remarked: 'Let's talk about Roblox, the online gaming and game creation platform that's insanely popular with kids. 71.5 million daily active users in the latest quarter but because they never pivoted to profitability, yet, the stock hasn't gotten as much love as I think it should've… It's the beginning of the great re-acceleration. Daily average users up 22%, hours engaged up 21%, revenues up 30%, bookings up gigantically. […] I've been waiting for this one to take off — it is taking off.' A person taking lessons through Roblox Education, expanding their knowledge and skills. Since the above comment was aired, Roblox (NYSE:RBLX) stock has gained nearly 160%. Overall, RBLX ranks 12th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of RBLX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
an hour ago
- Bloomberg
Japan's Longer Debt Attractive for Foreigners, Morgan Stanley Says
Foreign investors are looking with interest at longer-term Japanese bonds, while it remains uncertain when the government will adjust how much of the debt it sells, Morgan Stanley says. 'You still have a tremendous amount of supply hitting the long-end of the Japanese government bond market, which is presenting value for investors outside of Japan' from Canada to Europe to Asia, the firm's global head of macro strategy Matthew Hornbach said on Bloomberg Television.
