CENTRO's fifth international property syndicate, Centro MCS 38, has recorded favourable valuations across its portfolio.
Centro MCS 38’s portfolio which comprises 20 shopping centres, has received a valuation uplift of $52 million or 6%.
Centro’s chief executive Andrew Scott this latest round of valuations reflects positively on the US management team’s ability to source and execute retail property transactions that result in value adding for Australian investors.
“The US economy continues to demonstrate favourable economic conditions with low interest rates, growing GDP and declining unemployment. As reflected in the Las Vegas ICSC Conference last week, the US retail leasing environment continues to be strong in non discretionary focussed retail centres in the US,” he added.
Australian Property Journal
