Macquarie CountryWide has realised a gain of $115.2 million from its latest portfolio revaluations.
For the six months to December 31, 2006, Macquarie CountryWide’s portfolio book value increased 2.4%.
Revaluations were undertaken on 225 of all 244 property assets within the portfolio, the revaluations excluded 14 Australian properties under redevelopment and five assets marked for disposal in the United States.
Macquarie CountryWide’s chief executive Steven Sewell said the valuation uplift was largely a result of increased net operating income derived from recently redeveloped assets, and active re-leasing initiatives which resulted in higher rentals and longer lease terms.
Australian Property Journal