Octain, why would Orbis's conviction have...

Octain, why would Orbis's conviction have changed?
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"Mr Marais, who helps oversee about $1.5 billion of assets under management, said the US property market is near the bottom and now would be the best time to buy these stocks. On his radar screen are Macquarie DDR Trust , which holds US community shopping centres; Centro Retail Group , which also holds and manages US retail properties; Tishman Speyer Office Fund with exposure in the US office markets, and RNY Property Trust , which targets offices in the New York area.

Shares of Tishman Speyer trade at 60 per cent discount to its net tangible asset (NTA) value while those of GPT trade at a discount of about 15 per cent.

Tishman Speyer and Macquarie DDR have gearing of over 70 per cent, way above some of their larger peers, which are geared about 30 per cent, but Marais said the leverage should work in favour when property prices are about to improve."