Ann: Non Core Asset Sale Contract Unconditional &, page-8

re: Ann: Non Core Asset Sale Contract Uncondi... 1) I have to expand on my statement "many properties have been valued 1-2 years ago"

After further research looks like properties were externally valued in Dec 2012, June 2013, and Dec 2013. All properties not valued externally in Dec 2013 were internally valued.

Obviously external valuation is a much better yard stick than internal valuation by management.

2) Other interesting bit of information is that the 4 properties sold had the most massive discount to their purchase price in some case by a factor of nearly 400% - clearly MIX overpaid for them in the olden days but when the SP was closer to $1.

3) A bit more research on industrial market in Chicago (appears to be more mixed somewhat than what I expected). Sale prices have gone up well enough though 7.7% Year on Year of which 5.6% occurred in the last 3 month.

http://www.loopnet.com/Chicago_Illinois_Market-Trends?Trends=AskingPricesFS,SalePricesFS,TotalAvailableForSaleFS,NumberOfListingsFS,ProfileViewsFS,TotalNumOfUnitsFS,TotalSFAvailableFS,DaysOnMarketFS&PropertyTypes=Industrial

Increase of available listings is due to new supply coming online.

Therefore, assuming 20c NTA and 7.7% increase per annum I arrive to my estimate of 21c-23c if trend continues and sale occurs within next 6 months.