"Over the 18 months ended 31 December 2008, after adjusting for capital expenditure, the US and Australian portfolios have had total property valuation write downs of -16.2% and -12.7% respectively." - centro 13th feb 2009 prelimiary property valuations.
These properties have been sold as you say with a "Discount to June 2007 valuation: 15.8%"
This might be a writeup from book value :)
This is making me believe that come the end of this financial year, which is not too far from now, Centro's properties will have some written up and some written down. I dont expect a huge discrepancy in valuations from their valuations from the valuations on 31st december 2008.
If this is true then this would be due to Centro's aggressive writing down of their comercial assets.
I am no realestate guru though, so DYOR as i am just trying to use some logical reasonings.
CER Price at posting:
7.7¢ Sentiment: Buy Disclosure: Held
