Think of this then smart.If VPG are going to breach their...

Think of this then smart.

If VPG are going to breach their covenants soon then what is going to happen when other REIT's start really writing down their stock.
From what I have seen trusts are/have been keeping their portfolio values artificially high.

I have even heard of a certain trust shopping their valuations around before issuing the work???

From the AREIT's I think VPG is in a better position than allot. I also take heart in the fact that VPG were more realistically valuing property at their last val date. I expect the same this time. Yes it will be bad news but the only reason it will be worse than any one else is because VPG will adopt a more realistic valuation stand point. That is my thought any way.