Whilst I agree with Rubs that logically they were probably better off just holding the strategic stakes in other REITS that was never going to get any interest in the market and probably end up being wound up and distributed to shareholders (not something that's in the interests of 360 who want to keep it active and collect management fees) so I think buying the office buildings was seen as a way to give this fund some clear direction. As Gerling mentioned it's a case of looking for scale for the sake of scale. To be fair though I think we've got 2.5 really good properties that are A Grade enough to not suffer from the permanent reduction in office usage going forward.
TOT Price at posting:
84.0¢ Sentiment: Hold Disclosure: Held
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