I was a bit disappointed that the en-bloc sale of this building did not go through because they have a pretty high reserve price which I thought they will persevere through to extract the maximum value for unitholders like us. To me, a catalyst for upgrade of their NAV and secured NAV has disappeared.
With the sale, they have no other visible catalyst. The statistics that we see above is likely to stay like this for a while. It also mean to me that it has lost its attractiveness.
I do hold a significant amount of shares in Cambridge and will source for another REIT to maximise the yield of my portfolio.