Australia's Waypoint, Centuria Industrial note decline in portfolios on revaluation

Centuria Industrial Reit

06/07/2023 01:03

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

 (Reporting by Jaskiran Singh in Bengaluru; Editing by Rashmi
Aich)
 ((Jaskiran.Singh@thomsonreuters.com;))