LuIt wasn't just a 23 million sale. It was AUD $79...

Lu

It wasn't just a 23 million sale. It was AUD $79 million.

Also...IIF has implicity stated they are not in breach of covenants. In fact...asset sales puts them a long way from it.

Another 12 australian assets are under the sales hammer which will bring in $300 million AUD.

On top of that they sold $135 canadian worth of real estate and have another 5 properties worth C$36.9 million ready to be sold.

Your $300 million is on the money.

However....as you can see....IIF has already chewed into it in a big way. Also....they are prgressing with more sales to get that $300 million to zero.

It wouldn't surprise me to see IIF debt free in a month or two. REIT's got hammered and rightfully so. Their gearing ratio was ridiculous...take CNP for example....above 90%.

IIF is a different situation. Yeah they fell from $1.50 to 19 cents today...however...some will recover to where they previously were.

Do some calc's....go deep....you'll see some REIT's got tagged according to their sector and not to their true situation.

I am pegging IIF to be around 60-$1 in 1 month to 2 months....big call but who else in the REIT sector has sales of property and chewing into debt to become debt free like IIF?