In spite of the fact that the numbers look pretty good for CDR-PA (which is the preferred, the common is CDR, a REIT), and in spite of the fact that Paul Josephs' comments in his book (see the link to my post on the KO board below) are quite reassuring, in the current economic environment, I'm just not comfortable making an indirect investment in something like this:
A word to the wise. If any of you young pirates decide to chase this be sure you read the CDR-PA message board first. To keep from getting burned on this illiquid, low volume security, be sure to use an AON limit bid. One last bit of advice, if is hard to buy, it will probably be just has hard to sell, when it comes time to exit.
Reference to Paul Josephs' book on the KO message board: