Investing
Corporate Raider Sets His Eyes on Staid World of Canadian REITs
- Samir Manji is shaking up the usually staid world of REITs
- He shuns hot segments in favor of retail, office properties
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When Covid-19 upended the global property market two years ago, few companies seemed as poorly positioned for the new normal as Artis Real Estate Investment Trust.
Based in the windswept city of Winnipeg on the Canadian prairies, two-thirds of its revenue came from the kinds of office buildings and shopping centers whose long-term futures were suddenly in doubt. But Samir Manji, an activist investor who runs Vancouver-based Sandpiper Group, saw an opportunity.