Centuria Metropolitan REIT added to S&P / ASX300 index

Centuria Metropolitan REIT added to S&P / ASX300 index
Centuria Metropolitan REIT added to S&P / ASX300 index

Centuria Metropolitan REIT, Australia’s largest metropolitan office REIT, announced its inclusion on the S&P/ASX 300 Index from the start of trade on September 18.  

The S&P/ASX 300 Index includes up to 300 of ASX-listed entities by float-adjusted market capitalisation and provides a widely-used benchmark for many general equities and real estate specific institutional investors.

“We have previously indicated it was our goal to be included in the Index. We’re delighted to have achieved this milestone, thanks to the support of our securityholders,” said Nicholas Blake, trust manager of the REIT.

“Inclusion in the index will enhance CMA’s relevance within the Australian equity market and generate increased institutional investor interest.”

The ASX inclusion caps an eventful year for the real estate investment trust. It  merged with Centuria Urban REIT (CUA), posted a statutory net profit of $37.7 million in the financial year 2017, and also completed a $90 million capital raising, increasing CMA’s market capitalisation to over $500 million.

Recently, the REIT bought three commercial properties in Perth, one of them being the Hatch building (below) and Melbourne for a total of $150 million. 

Centuria Group entity Centuria Industrial REIT (ASX: CIP) is included in the S&P/ASX 300 Index, while Centuria Capital (ASX: CNI) is a potential candidate for inclusion at a future rebalance.

“The inclusion of the REIT in the ASX/S&P 300 Index is an important milestone for CMA, which was launched in December 2014. Combined with our $1.6 billion unlisted property syndication business, we now have three distinct property investment platforms that can grow independently. This enhances the group’s overall growth prospects,” said Group CEO John McBain. 

 

 

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Asx Listing Reit

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