July 6 (Reuters) - Australia's Waypoint REIT (WPR) and Centuria...

July 6 (Reuters) - Australia's Waypoint REIT (WPR) and Centuria Industrial REIT (CIP) on Thursday said that a revaluation of the properties under their belt showed a drop in their portfolio values.

Commercial real estate prices have become a major concern for investors, as markets are pricing in impacts from an already slowing economy and simultaneous growth of remote working.

Waypoint REIT said its portfolio shrank by about A$27.1 million ($18.03 million), a decline of about 1%, based on independent valuations on 78 properties and directors' valuations on 324 properties.

The company, which solely owns fuel and convenience retail properties, said its portfolio comprises of 402 properties with a combined valuation of A$2,920.7 million as at June 30.

Similarly, Centuria Industrial said external valuations on 38 of its 89 investment properties reflected a like-for-like slide of A$80.6 million on prior book values, a portfolio decline of 2.1%.

Compared to Centuria Industrial, Centuria Office REIT (COF) noted a wider like-for-like decrease of about A$102 million earlier in the week, after external valuations on about 13 of its 23 investment properties as at June end.

($1 = 1.5029 Australian dollars)