There's a bunch of mid-size REITs and property managers for which management are remunerated like princelings, for what it's hard to ascertain.
Have a look at the 10-year performance of GDI, ABG and ENN. Abacus management's singular stroke of genius was to split into two parts (an expensive exercise which has left investors poorer).
They can't just blame interest rates, the average suburban mum or dad would have outperformed them handsomely just by buying a bit of local real estate (even the poor performing stuff).
How management can be rewarded with incentive payments for this 10y performance is a bit of a joke imho.
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