article, page-2

I like this bit


One of its managed funds, Centro MCS 38, last week completed the sale of The Mall at Cross County in Yonkers, New York for $US78.3 million ($91.23 million), 30 per cent above book value.

And all the sheep are talking about the US commerial property being overvalued, it was independently valued just a few weeks back.....the subprime fallout doesnt really effect the shopping centres as such, people still need to eat and drink, the shop owners are the winners, and the rents are paid.

Especially when mortgages in the US.... well some are not being paid, they will spend their funds on food etc just to live.

Not out of the woods yet.....but the SP has spoken.