Well said BB, and always good to have Ipod posting on a stock,...

Well said BB, and always good to have Ipod posting on a stock, defintiely good for the shareprice :)

From yesterday's announcement, management state there are more ann's due before end of april on Canadian asset sales, "The transactions are scheduled to close before the end of April 2009"

Occupancy rates are 97.5% for the Australian portfolio alone, which is up on last year!

Below is an exerpt from the last announcement, which clearly illustrates management's confidence in the business and their recovery being to plan

“The Fund’s portfolio performance in Australia remains strong despite the volatility we are experiencing in financial markets. High occupancy and retention rates result in strong and reliable cash flows which are the core of our business and will underpin portfolio performance when financial and credit markets stabilise” said Mr Toussaint."

I think having fallen from 1.50 to this level, now with a solid divestment plan in motion, which is working well, from yesterday's announcement and future planned sales, the future looks brighter.

Yes there are issues they need to resolve but who doesn't, and that's why they fell with the rest of the REIT sector, to lower than 19c from 1.50. But who doewn't like a recovery bounce?

IIF is placing themselves into a position that with very high occupancy rates, plus strong, reliable cash flows and the afore mentioned plan, I think we will see a strong rerating happen now.

As Ipod said, getting over and moving beyond 20c is the first step, and yesterday's close was a strong one, so got a feeling today will be even better

Cheers,
Wilson