360 Capital REIT (AU:TOT) has released an update.
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360 Capital REIT reported a statutory net loss of $21.9 million for FY24, attributed to valuation decreases across its property portfolio, despite achieving full occupancy and 5 Star NABERS ratings for all properties. The company also decreased its gearing to 33.6% through capital raising and asset sales, while securing an extension of its finance facility to FY28. The property portfolio, valued at $201.4 million, experienced a valuation reduction of $23.6 million and comprises three modern assets with a weighted average lease expiry of 6.7 years.
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