Maple Brown-Abbott’s Kateryna Argyrou gives her take on office occupancy rates and why Westfield parent Scentre Group is undervalued by the market.
What was your take on the latest earnings season?
Valuers appeared to take a lenient approach to asset values, making minimal adjustments to cap rates, citing reduced transactional evidence.Dominic Lorrimer In my view, the current interest rate level is not yet fully reflected in Australian real estate asset values. This is also evidenced by the disconnect between listed and direct real estate markets – large cap listed real estate is trading at an average 20 per cent discount to net tangible assets.Charter Hall Social Infrastructure REIT is a small cap stock I like, and we hold in our REIT portfolio.
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