hi gerling, I am just keeping a watching brief on them as I...

hi gerling, I am just keeping a watching brief on them as I still like the huge discount to NTA. What the eventual NTA is going to be is the issue and you are right, if they take the assets (3x prop) then they will be up for costs and obviously not getting them on the cheap as we know the price. My preference remains that they take the cash and not exercise the Options as being a small boring A-Reit will very likely trade at a discount on market. Having all cash gives them significant ability to look around for new opportunities. If they can't find them, then i am sure shareholders will be happy to see buybacks and even capital returns until they do.

I am sitting on my holding awaiting that decision. If the Charter Hall deal with IAP goes through then I will probably buy more if they are not taking the properties. If they take the properties I will just keep my existing holding which owes me less than 90c and collect the yield. I want an exit north of $1.30.