Australian property trusts struggle in shadow of Centro

02/6/2008 | Sydney Morning Herald (Australia), The

While Australia's stock market is down by almost 20% from its November peak, property trusts have fallen by more than 25%. It's a big turnaround for a relatively safe sector that has produced average annual returns in the high teens for several years. Centro Properties pushed the sector heavily down after it became clear it was having trouble refinancing debt in markets constricted after subprime mortgage losses.

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Sydney Morning Herald (Australia), The

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