"Similar to house selling -- seller's realtor typically provides a higher estimate value than if a buyer has a realtor estimate a property's value."
Uh, slight mistake on that. Actually just the opposite in this case, but the underlying explanation remains. The buyer and seller likely had different independent appraisals. TIX's valuer (CBRE) estimated a higher fair price than did Arena's valuer, so TIX says it bought at fair value, whereas Arena says it sold at $5m above fair value. Just a guess given the PDS information.
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