Argosy's properties gained $157.7m in year ended March

Fri, 07 May 2021

Argosy said its properties have been revalued upwards by $157.7 million at March 31, an 8.5% increase over book value – $79.8m was booked in its first-half results after desktop valuations.Since then, "New Zealand's commercial real estate market has continued to experience firming in capitalisation rates, consistent with low-interest rates", Argosy said in a statement to NZX."Argosy's diversified portfolio of quality assets continues to demonstrate its resilience," said chief executive Peter Mence.Auckland...

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