Point taken r/e LVR's however replacement cost is a key...

Point taken r/e LVR's however replacement cost is a key factor.

AEZ will need to negotiate sales of assets if required with its lenders if required however this would be short sighted.

Even should this occur this stock still provides strong value. U need to have strong faith in the European economy turing around, and focus on the fact that people need somewhere to shop/work no matter the state of the economy.

Matt