This is in response to a reader's question. As it is going to be about managing expectations, I think it is important enough to be a blog. In a recent blog on Accordia Golf Trust in response to a friend's question as to whether it was realistic to expect an offer price for Accordia Golf Trust's golf courses which would translate to $1.20 a unit at the Trust level, I explained that although I didn't know if it would happen, it certainly wasn't an unreasonable expectation. If you are a new reader or cannot remember why I said that, I have provided the link to that blog at the end of this one. Now, being reasonable and being realistic are quite different. I said in the same blog, "... to be realistic, when selling an entire portfolio, it is usually more difficult to command a big premium compared to selling the properties individually." and I also said,...