Above: Jesse Curtis, Centuria Industrial REIT Fund Manager.
  • CIP to be listed on FTSE EPRA Nareit Global Index
  • Will commence on 21 June 2021
  • Company strength stems from good industry foresight

Centuria Industrial REIT (ASX: CIP) has been performing well over the past few months.

In late March this year, the company reported portfolio valuations had risen by $192 million, an approximately 8% increase in book values.

Then, strong performances across the eastern seaboard saw one data centre in Victoria increase 50 basis points of capitalisation rate compression; two properties in Greater Western Sydney also saw healthy figures, increases of $11.8 million and $3.4 million and a property close to Brisbane Airport saw a $20 million increase.

Centuria Industrial REIT made its thirteenth acquisition for the financial year in mid-April, Arndell Park in Sydney was welcomed into the CIP portfolio for $27 million.

Just last month Woolworths’ lease with Centuria was extended, and this month kicked off to news that the CIP portfolio now sits at $2.9 billion.

The news

Centuria Industrial REIT hit a new milestone this week. The company will soon be included in the FTSE EPRA Nareit Global Index (Financial Times Stock Exchange, European Public Real Estate, National Association of Real Estate Investment Trusts).

To be listed Monday fortnight, the “FTSE EPRA Nareit is a global index that tracks listed real estate investment trusts’ performance throughout the world based on funds’ liquidity, size and revenue.”

A little over five years since Centuria started managing the REIT, the portfolio currently includes 61 assets with a 9.7-year weighted average lease expiry (WALE) and 98.8% occupancy.

The international recognition comes as a recognition of Centuria’s foresight, said Fund Manager, Jesse Curtis.

“When we began managing the REIT in 2017, we identified the structural shift from shops to sheds and particularly focused on last-mile, infill assets that are well-positioned near transport arterials. These types of assets have attracted high-quality, blue-chip tenants on predominately long-term leases, providing a sustainable and resilient portfolio.”

Jesse Curtis, CIP Fund Manager

Together with the rest of Centuria’s listed and unlisted funds, the industrial assets under management total more than $4 billion, said Ross Lees, Head of Funds Management.

Image – Centuria Industrial REIT.

“Since FY20 Year End, the REIT’s total portfolio Weighted Average Capitalisation Rate (WACR) firmed 152bps, from 6.05% to 4.53%. Pro forma Net Tangible Assets (NTA) has increased by 36.5% from $2.82 to $3.85 per unit throughout the same period.”

Source – Moelis. Image – Centuria.
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