Could it be possible that AEZ's strategy is to hold out for December valuations that may actually increase? Or could some sales finally be possible?
http://www.moneycontrol.com/news/commodities/gold-rush-hits-prime-property_426427.html
A dramatic turnaround in the European commercial property market is already leading to fears of overheating in some cities.
Fund houses such as Hermes and Threadneedle are implementing measures to stagger inflows after attracting a flood of money, even as other investment managers are only now scrapping the redemption restrictions they imposed at the height of the financial crisis.
And in spite of UK commercial property prices plunging 45% from the peak, there are concerns that top-end property, particularly in central London and Paris, may already be fully valued.
"There is a bit of a goldrush mentality. We are getting very close to deals not being good value in the London prime sector any more and very close to it in Paris," said Matthew Richardson, head of European real estate research at Fidelity International......
Could it be possible that AEZ's strategy is to hold out for...
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