I think I have figured out what is going on with some of these...

I think I have figured out what is going on with some of these REITs.

Look at the comments by Knickerless More about how their "deal flow" hasn't completely dried up. The problem is,now the management see no prospects of being rewarded for success, they will want to be rewarded for failure.

How does this work ? Well simply by selling all the assets piecemeal at any price. Got a building which you said was worth $300m ? Well sell it for $200 ! Why not ? That way, they get a $10m selling fee which goes straight to the manager's bonus . Repeat until nothing is left for the security-holders.

I suspect this m.o. is becoming entrenched. Under those circumstances,no point at all in holding any of the securities. In fact , for an insto or anyone with big money, I makes sense trying to buy one of the $200m assets going cheap,directly.