mcw vs bjt, page-3

One has to sell assets to survive - the other doesn't.
One has an ICR of 2.3 times, the other has an ICR of about 3.7 times. (IMO 2.5 times should be the benchmark for a REIT to be sure funding is available, happy for property developer to be lower, or owner of many units that can be sold one at a time to raise cash).
One is located in a financing culture of worrying about lending ratios to a huge extent, the other is in a banking culture (tempered by 15 years of semi recession) where if the repayments are being made, then the loan is fine.
IMO - Why risk your capital on one when the other is similarly priced with much lower risk?

Wish I could buy more.