valuation dates and book values, page-3

My guess is they will have some properties that may not have been externally valued for a couple of years (depending on the fund policy) which means they may still have reasonable book values. On the flip side you will get some secondary centres that have had every last cent squeezed out and therefore will take a hit.

To sell a parcel of the properties I think they will have to let a few of the decent ones go in with the not so decent ones. Other than that they will have to offer some decent discounts.

The other thing to find out is what portion of the portfolio has fixed increases, CPI or other. Also what the weighted average lease duration is.

Hopefully the weight of funds will chase a decent portfolio offered at a mild discount??