In a sense it's a question of vertical versus horizontal integration. (Figuratively and literally) Do you want to concentrate just on what you're good at, or the whole stack? There's not a right and wrong answer, but it's best not to have too much value tied up in something that you're not focusing on.

That's a common thought on Wall Street. Activist investors frequently push companies to separate from real estate holdings (and frequently succeed).

This particular deal makes a lot of sense, the type of investor who wants real estate is not usually the same type that is interested in a struggling tech company.