how safe is bjt, page-3

Good question Bello.
If all BJT's properties were valued as the one sold they would be deeply in the sicky stuff (just ask GJT).This trust is highly geared and therefore a small decrease in valuation equals big trouble.
On another matter:property trust managers just love transactions as they generate fees for them personally (read -----).An interesting email would be along the lines of "what fees were paid to the manager for the recent transaction?"Please don't ever think that property trusts are about investors returns.They are all about transaction fees for management.