Location wise is a very important factor on the valuation, so cannot compared directly one.

As different location fetch different rate of rental. Just like KLCC can fetch >Rm10 per sq feet rental, while those outskirt KL may be around RM5 only.
Bangsar is around midvalley. KL properties price is quite high throughout.

The important factor to judge the valuation is the ability to fetch the rental. If the particular area and properties can fetch good rental, then 40% higher than others properties won't be a big issue at all.

I came across an article that stated midvalley mall, can fetch as high as Rm50 per sqft rental for ground floor, it just show how the properties situation around KL.

UOAreit is one of the lowest holding among my reit portfolio.

Me more prefer Axreit, Qcap, Stareit.

The primary concern should be put on the successful of private placement and good yield aka can fetch high rental and high occupancy.

If there is high rental and occupancy rate with steady outlook on it, higher gearing will be so much concern. While if the properties cannot fetch good rental and occupancy, then even no borrowing also looks no good.

The concern priority, (my view)
1) Rental yield
2) Occupancy
3) Lease quality, tenure and prompt payment.
4) Properties appreciation prospect
5) Properties expenses
6) Borrowing situation, gearing, tenure, borrowing rate.

Lets proceed to V2 thread. http://forum.lowyat.net/index.php?showtopic=1362442