Q: What percentage of homes etc are in the USA vs Canada. Would Canadian Government interfere ? I thought most assets are in USA
RAK
RAK
5i Research Answer:
Of TCN's total assets under management, ~85% is invested in the US Sun Belt, and the remaining ~15% is invested in Canada. From the Canadian perspective, the deal with BlackRock is expected to help fund $2.5B in new apartments which could contribute positively to Canada's affordable housing crisis. We have some comments posted on the liklihood of the deal going through as well as government interference. Since TCN only has 15% of its AUM in Canada and is building new apartments, we do not see the Canadian government being a large threat to interfere, however it is never off the table.