Centuria Metropolitan REIT (ASX:CMA): 1H19 Results Presentation

Company Presentations

Centuria Metropolitan REIT (ASX:CMA) Fund Manager, Grant Nichols, presents the company's 1H19 results.

Highlights:


Actively managing portfolio:

  • 98.8% occupancy, WALE of 4.3 years predominately underpinned by 75% multinational, ASX and government tenants
  • Portfolio value increased to $1.4 billion following Hines acquisition at 3.8% discount to valuation
  • 2.1% NTA uplift to $2.47 per unit since October 2018 portfolio acquisition

Capital management initiatives:
  • ICR of 5.6x and LVR of 37% ensure ample headroom with debt covenants
  • New debt tranches implemented further diversifying debt expiry profile
  • No debt expiry until end of FY20

Repositioned CMA as a pure play office REIT:
  • On track to deliver FY19 earnings and distribution guidance
  • Strong 12 month return on equity of 10.9%

For more, watch Fund Manager Grant Nichols present.