This article is from the Australian Property Journal archive
Macquarie DDR Trust has undertaken independent revaluations on 13 properties delivering a $US29.1 million.
Macquarie DDR’s share of this increase in value is $US23.6 million.
During the year to June 30, 2006, 27 of the trust’s 78 properties have been independently revalued resulting in a total increase in value of $US62.2 million.
“The strong total return reflects solid income generated from these properties and the level of demand for US community shopping centres,” Macquarie DDR’s chief executive officer David Dix said.
“Strong demand for Macquarie DDR’s value and convenience retail property is evidenced by both reductions in capitalisation rates and increased operating incomes at the revalued properties,” he added.
By Adam Parsons