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.