Can you update me on HR.UN?

Hey there,

So HR-UN has unloaded some major properties as it looks to both pay down debt and look to grow. It wanted to reduce its exposure to Calgary and has do so as revenue exposure has drooped to 3% from 9% previously. The deals also reduced its exposure to a single tenant OVV from 12% to 2% . This was a smart move because OVV moved its head office to the states and limiting their exposure to OVV is a big win.

Personally, I like what hey are doing here. While it still has exposure to the office industry and the work at home remains a headwind, the company isn't standing still. It is making moves and has a high quality portfolio of assets.

There is the potential of a an additional distribution depending on the net income generated from the dispositions. Likely to get more insight after the next conference call. It is an interesting contrarian play and is pretty cheap here but is not without risk.

Mat