In short: Another realized retail-landlord winner: "we were also a shareholder in Whitestone, which is service retail not a mall company, in the US — which got taken over by Ares."
Whitestone owned US "service retail" — neighbourhood centres full of the businesses people physically visit. Wealhouse held it and it was taken over by Ares Management, the private-capital firm. Same lesson as First Capital: he was buying a discount to property value, and a buyer with access to private money agreed. His remaining US exposure in this category is Federal Realty.
34:29We've had been fortunate this year we were big shareholders in First Capital which got taken over by Choice and King set and we were also shareholder in whitest stone which is a service retail not a mall company in the US which got taken over by Aries. — Right.
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