CLW: Charter Hall fund to try offload another $500m of assets to cut debt
The fund is pushing ahead with its largest round of divestments yet as its gearing levels edge closer to lending covenants.
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The fund is pushing ahead with its largest round of divestments yet as its gearing levels edge closer to lending covenants.
Borrowing costs affect all investors, but particularly those in commercial property. And then there’s the issue of values.
A Charter Hall REIT suffered a major blow to its bottom line, copping a $198 million loss as substantial devaluations in the commercial real estate sector materialise in the 2023 financial year results.
The fund’s result will amplify what is expected to be a dominant theme in the current reporting season, with a wave of writedowns expected across the sector.
It’s been a huge six months for the commercial real estate fund, but investor demand has failed to track a big increase in assets under management.