if only we were a big mac

mac bank's MAP seems to have the same problems as GPT

high debt
divis not being funded from cash flow
Price to NTA out of wack

So what does it do?

It sells properties eg airports to its internal funds and uses the money to buyback shares and and reduce debt.

In addition it does what GPT did - fund divis from cashflow

If only we could sell our properties to funds and use the money to reduce debt and buyback shares

Trouble is with GPTs funds is that no body wanted to invest in them so they couldn't buy any properties even if they wanted to.

Guess we have to sell all our properties externally.

Trouble is potential buyers are going to wait around until GPT becomes a distressed seller and has to off load them at a substantial discount.