Centuria to reposition as Australia's largest pure play REIT

Company News

by Anna Napoli

Centuria Property Funds Limited (CPFL), as Responsible Entity of Centuria Metropolitan REIT (ASX:CMA), has exchanged contracts for the sale of Centuria's remaining industrial asset.

The sale price of $24.2 million for the Granville property represents a 17 per cent premium to the asset's last book value.

The asset was sold to a private fund manager following a competitive on-market sale campaign.

Centuria says the sale if its last remaining industrial asset, at a premium to book value finalises its strategy to reposition as Australia's largest pure play REIT.

Share in Centuria Metropolitan REIT (ASX:CMA) last traded at $2.33.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.