Case study of failed reit

[Greenrookie]

Hi Buddies,

I tried google about macauthercook industrial reits and all the info i can find are regarding the rights issues, the recap plan, etc.

I am actually trying to look for info earlier, why/how did it get into trouble? Or is it the Parent company that got into trouble, and cause the trouble to rollover to the reit?

Appreciate any links, any info any buddies might have? If it is the parent company that is in trouble, and hence the manager, why is there a need for such value destructing exercises?

Since the trustee hold the assets of the reits, and as far as I know, trustee and the sponsor/ parent company are separate identities, the how can the troubles of parents (to the extend of the stake of ownership) lead to almost insolency??

Any info on failed reit also appreciated. Trying to use these as case studies to further my knowledge and risk assessments of reits.