Jesus...Christ... A 750 million dollar writedown. That's awful. The market suspected this all along and I guess why the units are trading well below pre-write down NAV. But, I suspect the market will start to lose confidence in the REIT and its management. You cant shout from the rooftops "our NAV is $30+/share" and a few months later post such a huge write down. It undermines your credibility. Im very long, but also very disappointed. I blame nobody though, the weakness in the Calgary Office market was known for years, the drop in oil prices just gave Dream a curb stomp American History X style.