This article is from the Australian Property Journal archive
CENTRO MCS syndicates delivered another year of exceptional total average returns, averaging 27.1% for FY2007.
The result was driven by solid income returns of 8.1% as well as high capital returns of 19.0%, averaged across the Centro MCS syndicate portfolio.
Following the June 2007 revaluations, assets or funds under management within the Centro MCS Syndicate portfolio now stand at $8.5 billion, a strong comparable revaluation gain of $520 million or 12.1% for the year to June 2007.
Across the syndicate assets, this represents a comparable increase of 13.3% for the Australian and New Zealand portfolio and 8.1% for the United States portfolio.
Centro’s chief executive Andrew Scott said tthe Centro MCS Australasian portfolio has once again seen a significant compression in capitalisation rates, firming by 0.43% to 6.63% since June 2006.
The US asset portfolio has also delivered strong returns for investors, with mature syndicates Centro MCS 32 and Centro MCS 35 achieving strong NAB growth of 17.3% over the past year.
Australian Property Journal
