2325 GMT - Fund managers provide investors with the best exposure to bottoming valuations in commercial real estate in Australia, says Morgan Stanley. "As asset values and cap rates improve, this should be followed by escalation in transaction volumes, and therefore uplift in fees and assets under management for companies that facilitate capital flows," analyst Simon Chan says. MS has overweight calls on Charter Hall and Centuria Capital. MS notes both stocks are looking to launch new products by the end of this year to capitalize on the bottom of property cycle. Charter Hall is looking at a Convenience Retail and a Diversified fund while Centuria Capital aims to establish two new listed REITs. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 04, 2025 18:25 ET (23:25 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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