Centuria Office REIT Reports Portfolio Valuation Decline

Centuria Office REIT (AU:COF) has released an update.

Centuria Office REIT has reported a completion of external valuations on approximately 76% of its investment properties, which has shown a near 4.5% decrease in like-for-like portfolio value and an expansion of the Weighted Average Capitalisation Rate to 6.58%. The company’s portfolio benefits from geographical diversity and an average asset size of around $100 million, which has contributed to recent divestments at close to book values, signaling asset resilience. Full details on individual property valersions will be disclosed with the FY24 full year results.

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