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Centuria Metropolitan REIT

Suite 39.01, 100 Miller Street, NORTH SYDNEY NSW 2060

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Real Estate Agents - North Sydney, NSW

Listing of Centuria Metropolitan REIT on Australian Securities Exchange (ASX) occurred on 10 December 2014.

Listing of Centuria Metropolitan REIT on Australian Securities Exchange (ASX) occurred on 10 December 2014.

After a significant amount of preparation and following on from a supportive investor meeting on 24 August where existing investors voted 99.9% in favour of listing Centuria Diversifed Property Fund, listing upon the ASX occured at 12.15pm on Wednesday, 10 December 2014.

The first day of trading saw the REIT’s price move from $2.00 per stapled security to $2.10 per stapled security at 5.0% increase over the day and a fantastic start to life on the ASX.

The REIT provides an alternative form of investment for Centuria’s traditional investor base. Whilst the underlying assets are very familiar in both type and location, the REIT’s structure as a publicly traded investment vehicle is quite different to Centuria’s more traditional unlisted closed end fund offerings.

We were delighted with the exceptionally strong initial expressions of interest shown by Centuria’s clients and even more so with the actual demand for the securities when we undertook the allocation process. Over 15% of the REIT’s issued capital was allocated to known Centuria investors and ultimately approximately 25% of the equity was allocated to Centuria and its Associates.

The REIT was marketed to retail investors through NAB and Shaw Stockbroking and to local and overseas institutional investors via investment banks, UBS and CIMB. We have a fantastic register of investors with a mix of leading Australian institutions, well respected property specific investment funds and global based investment organisations matched equally with local retail investors. This is a great mix and should prove to be a big support as the REIT goes about delivering on its strategy of growing investor returns through active asset management and acquisition where appropriate.

Our portfolio is comprised of eight assets, located in three capital cities with a total value of $183million. The portfolio has opportunities for both income and capital growth and will benefit from Centuria’s traditional active asset management.

The first task for Ben Harvie, Assistant Trust Manager and myself after listing will be to secure near term lease renewals from Lessee’s whose leases are expiring within the next six months. We are already well advanced in this task however success is only counted when leases are signed.


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