By David WinningSYDNEY--Dexus reported a net loss on the back of negative revaluations of its property portfolio, as Australian office markets broadly remain in a funk despite buildings in attractive positions near city centers performing better than those on the urban fringe. Dexus reported a net loss of 597.2 million Australian dollars (US$385.3 million) for the six months through December, compared with a A$23.1 million profit a year earlier. The result included a A$687.3 million net revaluation decline of its properties at the end of December, or 4.7% on prior book values. Dexus reported a 6.2% decline in funds from operations to A$364.8 million. Adjusted funds from operations per security were down 5.9% at 27.2 cents compared with a year ago.

Source: Wall Street Journal February 13, 2024 22:17 UTC