Ann: Change in Ownership of Responsible Entity , page-9

re: Ann: Change in Ownership of Responsible E... Been doing a bit of research on this one as a possible cheap buy.
Had a look at RRT 08 full year financial report and the value of their properties were $629m with loans of $537m as at june 08. Dont know if there is any change since then but with the $20m payment would increase gearing considerably. I would imagine they would have to do another capital raising for at least the $20m, but it would still leave them highly geared.
That would be ok if real estate prices increase from hereon in, but if there is anymore shocks to come, might be a bit hairy. I guess we'll have to see when they let us know a bit more detail on the acquisition.