18-05-2013, 03:38 PM
Is the master tenancy a big issue ? There are underlying tenants in the properties - 147 sub-tenants as of 1Q 13. I think it might be better for the Manager to relinquish most of the middle men (the master tenants) and deal with the tenants directly. The rental reversions will flow directly into the unit-holders hands. Currently, all the properties are master leased except one so I suspect they will re-balance this to diversify income stream and rents will be in line with the market (though more volatile).
(Not Vested)
(Not Vested)
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