Abacus Group reported a preliminary portfolio valuation as of June 30, showing a total estimated decrease of $136 million, equating to a 6.7% decline in book value from Dec. 31, 2023, primarily due to cap rate expansion.

The unaudited valuations project a pro forma net tangible assets decrease of approximately $0.15 per security, a 7.9% decline from the end of 2023.

Office properties valued at $1.4 billion saw a 7.5% decrease, with a weighted average capitalisation rate increasing to 6.48%.

Retail and other properties experienced a 4.6% decrease.