This Calgary-based REIT used to be heavily concentrated in the West and North but in recent years management has been diversifying the portfolio through new acquisitions, especially in Ontario, as well as spending extensively on renovating and updating existing properties.
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When we sold this stock from our High-Yield Portfolio several weeks ago at less than the offered price, some readers asked why. Now the reason is clear. The deal depends on the consent of lenders, and if even one is not happy with the arrangement, it could be scuttled. If that happens, the share price will take a hit.- Gordon Pape
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