One crucial facet of TRGD,so often ignored,is the quality of properties they have acquired.Simply exceptional.While SM is currently the highlight of very skilled buying,many others have been seen as highly desirable.That is reflected in the number of JV signed up.(Just as SM has had many majors in tow,5 I know of)The main problems with majors,they want a lot of cake themselves,but maybe even such deals give us momentum.
Just as an aside,we do not have lots of property with large cashflows needed to sustain our holding.The situation varies markedly and some are pretty much ours.