Listed Property Trusts

[fungus pudding]

PFI are actually 2.905.

Oops. Sorry, my mistake,you are right. Was looking at Precinct.
Excitement made me crosseyed.

[dibble]

So if the yields are comparative but the fees for unlisted are higher and the diversity worse and liquidity worse who in their right mind would buy unlisted instead?

Syndicates can be profitable but in this crazy FOMO, low interest rate climate Im steering clear of new ones. LPTs tend to have high quality properties in better locations and better tenents. That matters if things go slightly awry with the economy.

The worst syndication managers (and now there are many jumping on the easy-money bandwagon) simply buy second rate assets from e.g. LPTs clearing out their chaff or from other syndicates, gear them up to 45-50%, renew the lease probably with inducements to encourage annual increases etc (such terms dont come free), revalue them based on that new lease and flick them on to unwary yield chasers, ensuring they clip the ticket mightily in the process (I've seen one building syndicated 3 times, thats a lot of fees).

Transparency is also a real threat. One a while back involved related parties as seller/syndicator yet still involved a staggering collection of hefty sales and underwriting fees. Which may or may not worry you.

Failures do happen but they are not greatly publicised. For now LPTs are, for me, a much much better risk/reward profile.

Good luck and watch out for shopping centres getting syndicated, KPG is trying to get rid of a couple of duffers.

[troyvdh]

Im probably repeating my self but am i correct in saying that PFI ...until recently perhaps has returned the greatest return over an excess of 20 years....of listed property entities..nigh on 10 percent compounding.

[troyvdh]

Wow....what a post....please contact me....Fungus

[Waltzing]

2007 to 2015 was negative Capital Gain?

[fungus pudding]

Wow....what a post....please contact me....Fungus

Which post are you talking about?

[fungus pudding]

Wow....what a post....please contact me....Fungus

Pvt. message function seems to be down and out, so cannot do.

[fungus pudding]

Wow....what a post....please contact me....Fungus

Pvt. message function seems to be down and out, so cannot do.

[Nor]

Not that long ago, well, well within living memory, yields on LPTs were 8%. Imagine the decrease in SPs if that were to reoccur. Roughly 40% drop? Makes me wary of going in boots and all. 'They' say interest rates are going to go up but never by how much. Probably 1/2 a percentage point and then have to take them down again.
Interests me that SPK, a dividend stock seems to have strengthened rather than retreated on interest rate rise talk. Well recently anyway, not sure about yesterday, but the panic is all over today and Wall Street is up? So predictable.

[fungus pudding]

2007 to 2015 was negative Capital Gain?

That's a loss; or you might prefer a positve capital loss. Depends how many words you want to waste.