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  "documentTitle": "Blackwells Capital | Activist Presentation Deck | 207 slides",
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  "authorName": "Blackwells Capital",
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  "presentationDate": "2022-01-01 00:00:00",
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      "text": "WPT has one of the strongest Industrial Real Estate Portfolios in Public Markets. Occupancy at 97.4%, avg building age 15 years, avg building size 318k sq ft, avg tenant size 172k sq ft, lease maturity 4.6 years.",
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      "text": "There is a significant valuation disconnect between the Canadian and U.S. Markets. WPT is a Canadian listed REIT that acquires, develops, and owns logistics properties in the US. It trades at a much higher cap rate.",
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      "text": "WPT is currently undervalued and has significantly underperformed relative to its industrial REIT peers. Over the last five years WPT's peers have returned on average 182% versus WPT's returns of 63%. WPT trades at the second biggest discount to NAV.",
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      "kind": "list",
      "text": "Combine with Blackwells' Existing Industrial Real Estate Platform. Blackwells is building an extensive industrial real estate platform with over 20 million square feet in major U.S. Markets.",
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      "text": "WPT and the industrial real estate industry is a clear winner of the secular shift to e-commerce. COVID-19 and the increase of e-commerce activity has increased the demand for Industrial Real Estate.",
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      "text": "ASSESSING THE OPPORTUNITY",
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