Just reading back through last announcement: Announces Two Additional Disposals
It appears they are doing well with selling assetts off, and even achieving an 11% premium to book value in recent times
I feel the return on onvestment in property trusts and funds is going to be extremely positive over the coming months and / or as the market recovers
From the chairman's summary:
Summary Macquarie CountryWide’s Chief Executive Officer, Mr Steven Sewell said: “The completion of these transactions, along with the asset sales announced earlier this week assist us to deliver on our key objective of closing the gap between the latest stated asset backing of the Trust of A$1.48 and the current unit price of 24 cents.
“We have been pleased with the prices achieved relative to our book values on the Australian assets sold. Looking ahead, we continue to work towards securing disposals of whole properties or interests in portfolios of properties; reducing our exposure to offshore markets, mitigating or eliminating our near term refinancing obligations, reducing gearing levels and refocussing the portfolio on the Australian and NZ markets.”
MCW Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
