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Centuria Office REIT - Acquisitions and Equity Raising


Centuria Property Funds Limited (CPFL), as Responsible Entity for the Centuria Office REIT (COF), is pleased to announce the following:

• The proposed acquisition of interests in two high quality office properties in key near city and metropolitan markets in Melbourne and Sydney (Acquisitions) for a total purchase price of $273.1 million;
• The Acquisitions will consolidate COF's position as Australia's largest listed pure play office REIT with a $2.3 billion portfolio of quality office assets;
– COF’s portfolio WALE increases to 4.5 years (from 4.3 years) and average building age reduces to 15.5 years (from 16.8 years)
• FTSE Russell has confirmed that COF will be included in the FTSE EPRA Nareit Global Developed Index, effective from Monday, 20 September 2021;
• A fully underwritten 1 for 6.4 accelerated non-renounceable entitlement offer to raise approximately $201.0 million (Equity Raising) at an issue price of $2.50 per unit (Issue Price); and
• FY22 guidance reaffirmed
– Funds from operations (FFO) of 18.0 cents per unit (cpu), reflecting a 7.2% yield on the Issue Price; and
– Distribution of 16.6 cpu, reflecting a 6.6% yield on the Issue Price.

For more information, download the attached PDF.

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