July 3 (Reuters) - Australia's Centuria Office REIT (COF) said on Monday that external valuations on about 13 of its 23 investment properties as at end of June reflected a like-for-like decrease of about A$102 million ($67.96 million) on prior book values, a portfolio decline of about 4.4%.
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.
Last month, Australia's largest office landlord Dexus (DXS) said the value of its office portfolio had declined 7.7% compared to its previous book value.
Centuria Office recently signed a deal to divest its 54 Marcus Clarke Street property in Canberra, Australian Capital Territory, for a sale price of A$23.0 million.
The office real estate investment trust, which had acquired the property in 2015 for A$14.2 million, had said that the proceeds from the sale would be used to repay debt.
($1 = 1.5008 Australian dollars)
News: COF Australia's Centuria Office REIT posts decline in valuation for 70% of portfolio
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$1.25 |
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Mkt cap ! $743.6M | |||
| Open | High | Low | Value | Volume |
| $1.25 | $1.25 | $1.24 | $706.9K | 569.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 3800 | $1.23 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.25 | 14586 | 1 |
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| COF (ASX) Chart |