TGP and TOT should be merged if they were serious about building...

TGP and TOT should be merged if they were serious about building a Platform. but obviously that is not on the horizon. The NZ Properties inside TOT are a wasted opportunity as it turns TOT into a boring REIT. An undersized one at that.

TOT and TGP never had the cash/capital to ever win IAP and in the end i think they have achieved exactly what they wanted. Cash & Management Rights well above what they have spent on IAP shares. Thankyou Charter Hall. I thought it may have been Dexus, but happy to take CHC's money.

Depending how they recognise the profit through the books when done we may see a large distribution. If they retain the property (via Option) instead of cash then i don't expect to see much in the way of a distribution. Some could be available but nothing "special". Unlike you i prefer TOT to TGP but i would be happy to see TOT share in the development of the Management Platform (why they should syndicate the properties). Then get stuck into the buyback and drive the share price to the nTA. Then they will be able to do deals with equity and cash, rather than just doing cash deals.

First we have to see what IAP says about the CHC proposal. I think this could shake all those hands loose..