champing at the bit on race day, page-2

Rough summary for those not familiar with the stock.

Cap $600m, Cash ~115m, realizable assets ~$5300m, debt 2300m.
Net realizable Asset to cap ratio 517% (does not account for future devaluations)

Mostly Office properties in Aus, USA, EU, Japan.

43 buildings, 49% USA, 42% Aus, 8% EU.

Citigroup centre SYD, No1 Martin place SYD, Allianz Centre SYD, etc.

Currently around 96% leased.
45% geared.
Avg lease 5.2 years.

Some development: 171 collins str Melb.

Recent profit decline due to asset revaluations.
Tagged as needing to raise capital, but I doubt a significant raising required.


NB - do your own research, my valuations are unorthodox, and my research can be dated.