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Charter Hall WALE Limited as responsible entity of Charter Hall Long WALE REIT (ASX:CLW) (“CLW” or the “REIT”) today announces that 89%1 of the REIT’s portfolio has been independently valued as at 31 December 2020. This has resulted in a $150 million net valuation uplift or a 4.5% increase over prior book values for those properties independently valued.
Post the revaluations, the portfolio’s overall weighted average capitalisation rate firmed by 18 bps from 5.42% to 5.24%.
The REIT confirms that all properties in its portfolio have been independently valued at least once over the past 12 months.
1 Based on CLW’s portfolio valuation of $3.9 billion, including the bp New Zealand portfolio announced on 10 September 2020, which has exchanged with settlement subject to New Zealand Overseas Investment Office approval.
Announcement authorised by the Board
Click here to view the ASX Announcement