Kermadec says portfolio has fallen in value
Kermadec Property Fund said it would report a 3.9%, or $4.73 million, net reduction in the value of its property portfolio for the 12 months ended March 31, 2010.The valuation was impacted by two unexpected vacancies that arose late in the financial year.
Kermadec Property Fund said it would report a 3.9%, or $4.73 million, net reduction in the value of its property portfolio for the 12 months ended March 31, 2010.
The valuation was impacted by two unexpected vacancies that arose late in the financial year.
Kermadec expects to release its preliminary financial results to NZX in mid May.
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