Hi Jaberwock  you said "Investors should be wary of this move back to external management, and in particular of any future transactions between the financially troubled League or IGW REIT and the Partners REIT."   I agree competely and with the rest of your post too. It would not  surprise me if League / IGW made moves to somehow takeover and absorb PAR.UN  so that their level of indebtedness were diluted. - and if you want to take over PAR.UN wouldn't you see if you could drive down the price first before you made your takeover move? - a sad day when the 'Gold' proxys won control in my opinion.