Added to valuations from December, major REITs, which build, own and operate property assets, have marked down office portfolios by roughly a tenth or less over the past year.
Dexus shares have fallen 28% since 2022, while Charter Hall has nearly halved.
"Buyers aren't willing to pay the price from the last valuations," said Winston Sammut, an investment manager at Sequoia Financial Group and a former executive at Charter Hall.
Dexus and Charter Hall did not respond to requests for comment.
"We're looking to see whether the fund managers, the Charter Halls, the Centurias, the Dexus are also getting large redemptions."
Persons:
Tom Westbrook, Buyers, Winston Sammut, it's, REITs, Centuria, Grant Berry, Dexus, Ping, Blackstone, Amy Pham, Sammut, Australia's, Hostplus, that's, Pham, Lewis Jackson, Scott Murdoch, Sam Holmes
Organizations:
REUTERS, Charter Hall, Sequoia Financial Group, Charter, Reuters, SG Hiscock, Company, Blackstone, Sydney, Pengana Capital, Thomson
Locations:
Epping, Sydney, Australia, SYDNEY, Canberra, United States