You have to give credit where credit is due. This company has...

You have to give credit where credit is due. This company has the BEST team of spin merchants on the planet. Selling a portion of their business for 3/4 of its book value, (which by the way wouldn't cover their outstanding tax liabilities) seems like a poor result, yet the press release provides a glowing endorsement of another poor result orchestrated by management. There's a certain irony given the fact that The Agency is in the business of "selling" yet they can't achieve anywhere near the book value of one of their only cash flow positive assets.

Lets just hope the sales agents on the front line are more skilled than those at the top pulling the strings!! It would be interesting to know if the same appraisers valued the entire rent roll for the company, or if the WA rent roll was valued by a different entity. If its the same mob, then you could only assume the entire rent roll valuation is highly inflated leaving investors somewhat aggrieved.