Presumably a revaluation of assets reflect current market...

Presumably a revaluation of assets reflect current market conditions. As recent history has shown, particularly among commercial office properties, official valuations don't always reflect potential sale price. On the other hand there seems to be an anomaly among industrial properties where rents have risen significantly which should result in a corresponding higher valuation. Of course the biggest hindrance is rising borrowing costs and this particularly affects any potential developments such as Jandakot WA.
So far as a takeover is concerned I think a suitor would have to offer north of $3.00 to have any chance of success and also it would probably be hostile because of the strong connection with the wider Dexus group. I doubt they would surrender DXI willingly.
Still, despite all this, having held this stock (under different names) for many years it has always paid well above bank interest with a bit of capital growth thrown in so I'm quite happy to continue holding.