DEXUS Property Group (DEXUS) today announced that 31 of its 106 properties, comprising 25 office properties and 6 industrial properties have been externally valued as at 31 December 2016, reflecting 56% by value of the total DEXUS portfolio.
Combined with internal valuations across the remainder of the portfolio, this has resulted in an estimated $341 million or 3.2% increase on prior book values for the six months to 31 December 2016.
Darren Steinberg, CEO of DEXUS said: “As expected our properties have seen further cap rate tightening, and it’s pleasing to see that rental growth is being reflected in our valuations at properties in Sydney and Melbourne. The Brisbane office market is showing signs of improvement, however Perth remains challenging.”
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