Not exact matches
And 68 percent voted
down a companion measure that would have raised the Park District's corporate fund
property tax rate by 10 cents per $ 100
of assessed
valuation to operate the new facility.
Voters on March 19 gave a resounding thumbs
down to the park district plan, which eventually would have increased
property taxes for east side residents by 12 cents per $ 100
of assessed
valuation.
We've written
down the
Property, Plant and Equipment by 85 %, but it only represents a small proportion
of the total tangible assets and so doesn't have a meaningful impact on the
valuation.
The alternative,
of course, is to sit
down & re-survey the listed German
property sector, in the hopes
of finding another KWG... i.e. a still relatively undiscovered stock / company that offers an attractive relative / absolute
valuation and / or prospective NAV growth!?
Abbey's a great stock (Philip O'Sullivan just put up a good post here), but there are quite a few other
property stocks out there (with Net Cash or low LTVs) on similar / lower
valuations, so your stock preference will come
down to what kind
of exposure you're looking for.
Two recent transactions in the mall sector — Brookfield
Property Partners» acquisition
of General Growth Properties (GGP) and UnibailRodamco's acquisition
of Westfield Corp. — have dragged retail
valuations down further, Mar said.