Centuria Industrial REIT (ASX:CIP) Head of Funds Management, Ross Lees provides CIP’s operating update for FY19.Highlights: - Leasing momentum continued in FY19 with over 113,000sqm leased, which has elevated occupancy to 95.9%.
- Victorian sub portfolio occupancy has now increased to 96.7% following over 80,000sqm of leasing in this market.
- Continued to reduce gearing, with 30 June gearing reported at 37.4%.
Guidance for FY20: - In FY19 CIP delivered distributable earnings of 18.8 cents per unit, this is an equivalent of 19.3 cents of FFO.
- Forecasting FFO growth of 2-3% over FY19.
For more, watch Head of Funds Management Ross Lees present.
