Centuria Metropolitan REIT added to S&P/ASX300 index
Australia’s largest metropolitan office REIT, the Centuria Metropolitan REIT, has today announced its inclusion on the S&P/ASX 300 Index. The inclusion will come into effect from start of trade on Monday 18 September 2017.
The S&P/ASX 300 Index includes up to 300 of Australia’s largest ASX listed entities by float-adjusted market capitalisation and provides a widely-used benchmark for many general equities and real estate specific institutional investors.
Nicholas Blake, Trust Manager, CMA, said he was delighted to have the REIT included in the S&P/ASX 300 Index.
“We have previously indicated it was our goal to be included in the Index. We’re delighted to have achieved this milestone, thanks to the support of our securityholders. Inclusion in the index will enhance CMA’s relevance within the Australian equity market and generate increased institutional investor interest.”
Inclusion in the S&P/ASX 300 Index follows a year of significant growth for CMA. Achievements include the merger with Centuria Urban REIT (CUA), a FY17 statutory net profit of $37.7 million, and the successful completion of a $90 million capital raising, increasing CMA’s market capitalisation to over $500 million.
Centuria Group entity Centuria Industrial REIT (ASX: CIP) is included in the S&P/ASX 300 Index, while Centuria Capital (ASX: CNI) is a potential candidate for inclusion at a future rebalance.
Group CEO, John McBain, said: “The inclusion of the REIT in the ASX/S&P 300 Index is an important milestone for CMA, which was launched in December 2014. Combined with our $1.6 billion unlisted property syndication business, we now have three distinct property investment platforms that can grow independently. This enhances the group’s overall growth prospects.”
In conclusion, Mr Blake said that investors could benefit from exposure to metropolitan markets.
“Australia’s employment hubs are no longer just CBD centric – exploding populations are driving people to want to work in the metropolitan areas where they reside. As Australia’s dominant metropolitan REIT, CMA offers investors access to high quality office assets located in core metropolitan markets throughout Australia. Centuria Capital has a proven 20 year track record in generating value as a specialist investment manager.”
Centuria Capital has a proven 20 year track record in generating value as a specialist investment manager.