Centuria Metropolitan REIT (ASX:CMA): 1H20 Results Presentation

Company Presentations

by Clive Tompkins

Centuria Metropolitan REIT (ASX:CMA) Fund Manager, Grant Nichols, presents the company's 1H20 results.

Highlights:


Australia’s largest pure play office REIT listed on the ASX:
• Balanced geographic diversification with exposure to major Australian office markets
• 23 high quality office assets with an average age of 14.9 years  
• Strong tenant covenants with the Commonwealth Government representing the largest tenant at 13.3%

An actively managed portfolio:
• Leases agreed1 for over 28,721 sqm, representing 9.5% of the portfolio’s NLA
• Significant lease renewal at 144 Stirling Street, Perth; WA Government now represents the portfolio’s second largest tenant
• 99.2% occupancy
, 75% of income derived from multinational, ASX and government tenants
• Extended WALE3 to 5.1 years
• NTA increased by 8 cents to $2.57 per unit

Positioned for growth:
• Four new debt tranches, weighted average debt expiry extended to 3.8 years
• Debt headroom of ~$70m
• Gearing reduced to 33.2%
• Four major lenders provides diversification to high quality financiers
• FY20 FFO guidance of 19.0 cpu and distribution guidance of 17.8 cpu reaffirmed

For more detail, please watch the presentation