My guess is that we will see a quick re-buff from local instos...

My guess is that we will see a quick re-buff from local instos and the US hedge funds, and then a revised offer.

This would have been in the planning for at least a couple of months IMO, and the price then would have been a premium to the price 2 months ago. Thus, they are being opportunistic and there is plenty of room for them to move.

Macquarie back to its old games of recycling capital!

I hold, unless the world goes to the crapper again, and then I will happily take the cash (even at a discount to NTA) and invest in other REITs that are trading at even bigger discounts.