Dexus Reports Estimated Book Value Decline for Asset Portfolio
Dexus (ASX:DXS) said draft external independent valuations have resulted in an estimated decline of around AU$24 million, or 0.2%, on book values across its asset portfolio for the six months through June, according to a Monday filing with the Australian bourse. The value of the office portfolio fell around 0.4% due to marginally higher capitalization and discount rates, partially offset by market rental growth. The industrial portfolio's value increased 0.5% due to market rental growth and a slightly firmer discount rate, partly offset by a marginally softer capitalization rate, per the filing. "The valuations reflect a stabilizing market that is being driven by fundamentals," said Dexus Group CEO Ross Du Vernet. The company's portfolio of 175 assets comprises 27 office properties and 148 industrial properties.
Dexus (ASX:DXS) said draft external independent valuations have resulted in an estimated decline of around AU$24 million, or 0.2%, on book values across its asset portfolio for the six months through June, according to a Monday filing with the Australian bourse.
The value of the office portfolio fell around 0.4% due to marginally higher capitalization and discount rates, partially offset by market rental growth.
The industrial portfolio's value increased 0.5% due to market rental growth and a slightly firmer discount rate, partly offset by a marginally softer capitalization rate, per the filing. "The valuations reflect a stabilizing market that is being driven by fundamentals," said Dexus Group CEO Ross Du Vernet.
The company's portfolio of 175 assets comprises 27 office properties and 148 industrial properties.