Preliminary results of the tender offer are that 19.40% of the shares of the fund were tendered. NRO will be accepting only 5%, so you can plan on ~20% of the shares you tendered being bought. Final results of the offer will be posted on 1/25 probably after C.O.B.
I am glad I did not fall for this tender offer. We bought NRO before the collapse and then added 3000 more shares at 1.50, 2.oo and 2.50. We intend staying with this fund for the forseeable future.Real estate has to come back for the market to keep going up. RE is just too big a sector to think it won't matter to the market in general if it stays in the dump.I'm a gambler when it comes to the market and am willing to wait for this fund to improve. This is one of 18 CEFs we have. Most of the others are doing good, considering all the problems this great country is going thru.