all the ducks are lining up in our favour. , page-3

let me explain, the village locations and their individual values are reported see:
"28 Feb 2011 18:16 ! ILF Appendix 4D and Half Year Accounts - 31 December 2010"

sale announced 2nd of may:
"ING Real Estate Community Living Group (ILF) today announced the sale of three Garden
Villages rental properties in Toowoomba Queensland for $8.8million, representing a 20%
premium to 31 December 2010 book value."

so the numbers go like this:

valuation less loan equal NTA

you must take into account the gearing which now is at around 70% for all assets and for the Australian assets around 40%.
example calculation for Australian assets:
asset value say $5m gearing 40% contribution to NTA $3m, if this asset is sold for a 20% premium that would be $6m making the contribution to NTA $4m so 26c would go up by 33% to 35c, the effect is even bigger for non Australian assets because of the higher gearing.
hope this helps