mulgabill, have a look at comments over the past week on GJT, particularly by poster "2ic" (i somehow have become quite his/her groupie). One of the J-REITs dropping badly leads to others softening (in this case i would blame the suspension of RJT), only because as with REITs the world over they are highly leveraged and got banks leaning on them to sell property. Valuations are about to get marked to the fire sale prices as they are about the only sales going through, a nasty spiral underway. While it probably does not make sense (i mean, how much of the japanese property market can be accounted for by ASX-listed REITs), fear is infectious.
If BJT has not cancelled div like so many other companies/REITs then the market probably fears that it will.
and yeah, there would be folks cutting back their BJT and other REIT holdings to get in on WDC cap raising.
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babcock & brown japan property trust
looks a bit sick, page-10
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