Okay so the notes say :-
Note, however,that net asset value is an indication of a reit’s assets to a buyer in the private market, which can be quite different from the value public market investors would attach to the REIT.
Why is it so?
US GAAP books assets at historic cost as well IFRS (can book at fair value). Hence analysts meansure NAVPS privately on their own, by adjusting Balace Sheet to find the true value of asset. The information is not publically reported, as far as i comprehend.