19 October 2017

Centuria increases strategic investment in Centuria Metropolitan REIT to 19.9%

Centuria Capital Group (Centuria) (ASX: CNI) is pleased to announce the acquisition of a further 1.8% stake in Centuria Metropolitan REIT (CMA), increasing Centuria’s total interest in CMA to 19.9%.

The additional investment follows the successful $60 million Centuria entitlement offer announced on 4 October 2017 and represents a deployment of capital in line with one of Centuria’s purposes in undertaking the capital raising.

Earlier this month, Centuria increased its co-investment stake in Centuria Industrial REIT (ASX: CIP) to 17.75%.

Centuria CEO, John McBain said:

“These investments are in line with our business strategy of supporting the continued growth of our listed REITs and thereby increasing recurring revenues.”

“We have a very clear sense of the potential for our business and its current trajectory. The success of our strategy continues to deliver excellent investment outcomes for our securityholders. FUM has increased 118% in a year, our EPS guidance for FY18 has just been upgraded by 6c per security and our DPS is up 9.3% at 8.2c per security.

“We also recently realised a $25.8 million performance fee from the sale of 10 Spring Street. We intend to continue on our growth-path and our listed and unlisted property divisions are very active in looking at potential acquisitions for their funds.”