Centuria Metropolitan REIT (ASX:CMA) to buy Canberra office building

Company News

by Rachael Jones

Centuria Metropolitan REIT (ASX:CMA) has acquired the NewActon Nishi Building commercial office property in Canberra for $256 million.

A fully underwritten institutional placement to raise $185 million at an issue price of $3.00 per CMA unit will partially fund the acquisition.

Centuria Metropolitan has also revalued 8 of its 22 properties, resulting in a gross increase of $30.8 million, or 3.4 per cent on prior valuations.

Shares in Centuria Metropolitan REIT (ASX:CMA) last traded at $3.15.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.