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Strategies & Market Trends : Value Investing

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To: E_K_S who wrote (68402)	10/31/2022 7:49:10 PM
From: E_K_S	Read Replies (3) of 78688

Re: City Office REIT Inc (CIO) added to CIO in a few accounts at $10.60/share. I see my last buys were in 2016 at $13/share & $11/share. Selling at 60% of BV. Company continues to generate positive quarterly cash flow. According to Barchart.com; price/cash flow is an incredible 0.86x I sold 50% of my CIO shares in 2021. Was impressed w/ their San Diego properties located in the Bio-Tech belt of Southern California August 2021 City Office REIT Announces Agreements To Sell Life Science Portfolio For $576 Million City Office REIT, Inc. (NYSE: CIO) ("City Office" or the "Company") announced today that it has entered into definitive agreements to sell all of its holdings in the Sorrento Mesa submarket of San Diego for $576 million . The transactions are expected to generate net proceeds, after estimated closing and transaction costs, of approximately $546 million , which equates to $12.38 per common share. The properties to be sold are unencumbered by debt. Management brought value to the shareholders in 2021, perhaps they have some plans to help bring value especially w/ the stock selling at 60% of BV

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