Property investor Centro Properties Group
(ASX:CNP) says the value of its Australian and U.S. managed property portfolios fell $2.6 billion in the six months to June 30.
The company says the value of its Australian portfolio came to $7.69 billion at June 30 2009, down from 8.17 billion at the end of December 2008 and down from $9.09 billion at June 2008.
Centro says the value of its U.S. managed portfolio at June 30 2009 dropped to US$10.08 billion from US$11.81 billion at the end of December 2008 and down from US$12.42 billion at the end of June 2008. Centro says independent valuations were conducted for 57 per cent and 29 per cent of its Australian and U.S. properties respectively.
Centro Properties Group posted a $2 billion loss in 2008.
