Centuria Office REIT reported a $124 million decrease in the value of half its real estate assets.

This comes after the company completed external valuations on 12 of its 22 investment properties as of Dec. 31, 2023, which makes up about 49% of the portfolio by value. 

The valuation represents a 5.6% portfolio decline from prior book values.

The remaining valuations, comprising 51% of portfolio value, will be undertaken as director’s valuations along with the FY24 first-half results.