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.