That's very true. But we shall see. Here's a link to CGF's sale of Collins street. They aimed for 130, but got 120. Was carrying at 108 on book. If RRT have valued book conservatively too then we may eventually receive something near NTA. The US portfolio is going to suffer though.
http://www.theaustralian.news.com.au/story/0,,23699172-25658,00.html?from=public_rss