cer completes 28.6m of us asset sales, page-7

Ok Ive done a rough calc of the cap rate

CER's share of the ABR as at 31 Dec 08 from supplemental is as follows:

Greenport - $728k
Garden City Plaza - $886k
Chestnut - $310k
Ladera - $1m


ABR of 4 properties: approx $2.9m

Take away approx 10% to get NOI: $0.3m

NOI: $2.6m

Approx cap rate: $2.6m/$27.2m (CER's share of proceeds) = 9.5%

Most likely these properties were sold at an aggregate discount to book value, however it should still result in a reduction in CER's look through gearing ratio.