In IGR's annual report it says "On February 15, 2011 ING Group announced that it reached an agreement to sell the majority of its ING Real Estate Investment Management business to CB Richard Ellis Group Inc." What does this mean for our shares?
Afer reviewing the press release again, I am not sure the sale has any financial benefit to owners of IGR. It appears to me that selling the management companies only benefits ING and doesn't change the management relationship between IGR and the professional manager. No change in objective for IGR even though ING intends to exit most of their RE endevors. Don't think it helps but don't know if it hurts either. Any opinions.