positive for property trusts

see article in todays SMH...

Outlook brightens for REITs
Carolyn Cummins
August 18, 2009 - 11:59AM
A wave of optimism appears to be washing over the real estate investment trust sector, with three reports out today all indicating that the coming 24 months will be much better than anticipated.

Although losses have been unveiled for Dexus Property, CFS Retail and Commonwealth Property Office Fund, all were a result of asset devaluations and one-off charges. After taking away the write-offs, the underlying results were in the black.

The managers said that while the 2009-10 year would remain challenging, rental conditions in prime CBD office and high quality shopping centres were strong, thanks to low future supply and a renewed interest from consumers wishing to spend.

http://business.smh.com.au/business/outlook-brightens-for-reits-20090818-eodw.html