The higher the yield the lower the price. I think OP was...

The higher the yield the lower the price. I think OP was referring to Cap rate. Cap rate of 10% is pretty damn high (Means the property price is only 10x its cash flow income from rent). In any case, the question is what percentage below book value does a 10% cap rate imply? If the book values are at 8% cap rate, a move to 10% cap rate means the sale was done for ((10-8)/8)*100 or 25% below book value which is about right in terms of where we expect writedowns to be in the vicinity of.