Blackwells Capital Activist Presentation Deck
BLACKWELLS APPROACH TO WPT
Blackwells Believes There Are Multiple Levers for Value Creation Including:
Take Private
BW
Fix
Exit
BLACKWELLS CAPITAL
WPT Industrial REIT is a Canadian listed REIT that acquires, develops, and owns logistics
properties in the US. WPT has a comparable asset base and business to the American
players because it is listed in Canada it trades at a much higher cap rate. We aim to take
advantage of this disconnect by buying into an undervalued and underappreciated Company
where we can increase coverage or relist the Company in the US
WPT has grown significantly over the last three years essentially doubling the portfolio.
Before this growth WPT was penalized for over concentration to the Midwest and lack of
growth as well as their external management structure. Since then, the company has fixed
the management structure, geographic exposure, and growth issues yet is still being valued
at a significant discount
WPT has an attractive portfolio of industrial real estate assets that should garner a significant
M&A premium. There are several exit options including the sale of the Company to a
financial buyer or other Industrial REIT, relisting the Company, or using it as a platform to
grow
Strictly Confidential & Trade Secret
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