not too suttle attack, page-4

Look for further significant asset write downs in the coming 6-12 months..

What is their weighted cap rate across the portfolio? By country?
They have great stock in Australia its the US thats the drama.

What are the LVR covenants? ICR? Where does the company sit now?

I would suspect significant increase in gearing. 50-60%?

I am going to have a look into the recent results, purely on the basis they hold some great commercial stock in Australia & I could see some potential takeover partners in Australia that would be interested at the right price.

Any one know what sort of poison pills are in the Mac paperwork that may prevent any potential buyouts of this fund at bargain basement prices?