Centuria Industrial REIT continues to break milestones

Company News

by Jessica Amir

Managed fund and developer, Centuria Industrial REIT (ASX:CIP) has grown its portfolio to $1.02 billion in the first quarter of the 2018 financial year.

Over the quarter it also bolstered its occupancy by 1.4 per cent to 93.5 per cent, while also increasing its leases.

Throughout the period the fund also raised $53 million in equity and reduced its pro-forma gearing by almost 2 per cent.

The REIT also saw its weighted average lease expiry (WALE) further improve to 4.8 years.

Shares in Centuria Industrial REIT (ASX:CIP) are trading about 0.4 per cent lower to $2.55.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.