Alex Potemkin/iStock via Getty Images City Office REIT's (NYSE:CIO) preferreds (NYSE:CIO.PR.A) are a buy and I've taken a significant position after first considering the commons when I last covered the internally managed office REIT. While rising office vacancies across the US will continue to form a fundamental headwind for office owners, CIO's fiscal 2023 fourth quarter occupancy rate at 84.5% remains healthy albeit dipping by roughly 90 basis points sequentially. Critically, the dip was mainly led b ...