I've just google the backgound of all CRE borrowers. All are...

I've just google the backgound of all CRE borrowers. All are currently in strong position and is unlikely to default or go into administration.

If this Four seasons nursing home loan get repay, REU should be back in good financial position. In the event that properties price tumble, even if by 15% from June 08 that would equates to around 70 mil euro. which translate to roughly 150 mil AUD lost.. leaving net asset of 150 mil AUD. Translating to roughly NTA of 30 cents per shares.

considering that the european central bank has just cut rate by 0.5% and UK by 1.5% with more to coming, that should put a stop to equity price free fall..

Now, if this trust can survive the next few weeks without going into default. Things should brighten up from here. The 1/2 cent value is a real steal compare to what it could be worth when the market pickup again in 6 months time.