Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks -- Ignore unavailable to you. Want to Upgrade?

To: whitepine who wrote (1101)	6/13/2001 8:09:23 PM
From: David Alon	Respond to of 11633

Another Reit looks for money, but at least if you check the trades ,there wasn't any inside deals, Residential Equities Real Estate Investment Trust Announces $40.3 Million Financing 17:14 GMT-04:00 Wednesday, June 13, 2001 NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES Residential Equities Real Estate Investment Trust ("Residential Equities") of Toronto, Ontario today announced that it has agreed to sell 3,100,000 Units for $13.00 per Unit for aggregate gross proceeds of $40.3 million to a syndicate of underwriters led by RBC Dominion Securities Inc. and including Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., Dundee Securities Corporation, HSBC Securities (Canada) Inc., Merrill Lynch Canada Inc., and Raymond James Ltd. on a bought-deal basis. Residential Equities has granted the underwriters an option, exercisable until closing, to purchase up to 310,000 additional Units at the same price on or before the completion of the offering of Units. Dundee Realty Corporation and Greenwin, each of whom is a significant Unitholder of Residential Equities (owning approximately 15% and 13% of the outstanding Units, respectively) and who together beneficially own LT Greenwin Property Manager, Residential Equities' property manager, have agreed to purchase 465,000 Units and 232,500 Units, respectively, at $13.00 per Unit. The offering was approved by the trustees of Residential Equities other than those related to Dundee Realty Corporation and Greenwin. Residential Equities will, within the next few days, file with the securities commissions and other similar regulatory authorities in each of the provinces of Canada, a preliminary short form prospectus relating to the issuance of the Units. The net proceeds of the sale of the Units will be used to repay indebtedness incurred by Residential Equities under its Acquisition and Operating Facility, for future acquisitions of interests in residential properties, capital improvements and general purposes. In connection with the offering, a proportional distribution will be made on August 15, 2001 to Unitholders of record on the day immediately preceding the date of closing of the offering for the period commencing July 1, 2001 to that day. Unitholders of record on July 31, 2001 will be entitled to receive a proportional distribution from Residential Equities for the period commencing on the date of closing of the offering to July 31, 2001. Residential Equities is one of Canada's largest residential real estate investment trusts. It distributes tax efficient income monthly from a portfolio of residential properties currently comprised of 9,118 residential suites located primarily in the Greater Toronto Area. The Units being offered have not been and will not be registered under the U.S. Securities Act of 1933 and state securities laws. Accordingly, the Units may not be offered or sold to U.S. person except pursuant to applicable exemptions from registration. For further information contact:

To: whitepine who wrote (1101)	6/13/2001 9:39:03 PM
From: Peter W. Panchyshyn	Read Replies (1) \| Respond to of 11633

Look, Peter, it is the principle of the issue! That you can point to a beneficial record in the near term is not persuasive to me. --------------------- I gave two beneficial records. One medium term with the trust example given by Stan --NCF. Whose assertion was that these practices were harmful to the trust investors. I chose to look at the example he himself gave. To look at the evidence that exists out there. To see if what Stan had said had any merit. If it were true. The facts, the data, showed quite a different picture than what Stan described. The second was PGF which I have held and accumulated since 1985. PGF has gone through several secondary issues in its history. That is fact. That is a matter of record. And I am most definitely better off because of it. Because you choose to ignore the evidence, especially bonafide LONG term evidence does not mean that it doesn't exist. It only means that you can't or won't except it. Thats your choice. Your choice is not fact. Facts are facts. And I have presented facts. Feel free to verify the data yourself. ----------------------------------------------------------------------------------------------------- If NG prices had been falling during the last year, the price of PWI would not have increased. ------------------- This reminds me of a discussion I had had in the newsgroup misc.invest.canada a while back. Just after the oil prices had collapsed to $10 and were starting to recover The other person had said that the oil and gas royalty trusts were not a good investment because they were too volitile and the income was too closely linked to the commodity and too unreliable. Well I said to him lets just check the available data to see if that were indeed the case. Again I used the example of PGF. I asked how the person could explain that at the time of oil prices going down to their lowest levels in decades and starting to recover the fund was able to return income to its unitholders which was at record levels for the trust. Next I took a look at the volatility of the unit price for the trust itself and compared that to other stocks some which he himself came up with. The volatility was not significantly any more extreme. So you see I choose to look at data. I choose to look at facts. ----------------------------------------- Go back a bit further and look what happened to BPT! It traded down from 18 (@18% interest) to 4 and no interest...and BPT did not even dilute stakeholder's capital with a dilution. ------------------- And the above is just why I stick to those trusts that have people running them which have a good record of doing what it is they do. Of course finding all this out takes work and effort. And it is because of that work and effort that I have what I have. A simple fact the likes of people like Stan will never understand. Can you? ---------------------------------------------- Hope your capital position is long-term and RT's fall in price...the dilution will fall even more; your gains will become losses. ----------------------- I know how to best play these trusts. I have demonstrated that fact for close to 2 decades. So just as has happened before when the trusts fall , as they most certainly will ,I will be prepared. I have the strategy all prepared out. As I was with the last fall and rebound. And just like then I will come out even more ahead than I am now. You can take that to the bank. So continue to stick with what you hope and feel. Hope and feel don't bring success. Work and effort do. Results bring results. Over the past several years here I have shown results. You can check my past posts. Its all there. -------------------------------------------------------------------------------------- What tune will you sing then? ---------------------- A very happy one. Just like now. Just like last year. Just like the year before that. And so on and so on. Well you get the idea. Or do you? Well no matter, no matter at all. Peter whitepine