Shaw and Partners appointed Co-Lead Manager to $90m Centuria capital raising News13 Jul 2017

Shaw and Partners has been appointed Co-Lead Manager to the $90m Centuria Metropolitan REIT capital raising. 

 

Centuria Metropolitan REIT (ASX.CMA) has entered into agreements to acquire 3 new commercial office assets for $150 million.  The acquisitions will be funded by a fully underwritten $90 million equity raising and the balance from CMA’s existing debt facilities.

 

These acquisitions will further cement CMA’s position as the dominant metropolitan REIT on the ASX

 

The $90 million equity raising is comprised of a $25 million institutional placement and a 1 for 6.4 accelerated non-renounceable entitlement offer to raise approximately $65 million. The Issue Price of $2.35 per new security represents a 2.5% discount to CMA's closing price of $2.41 on 12 July 2017. At the Issue Price, the new securities are forecast to deliver a 7.9% FY18 distributable earnings yield and a 7.7% FY18 distribution yield.

 

For more information please contact your Shaw and Partners Adviser.

 

THE OFFER IS OPEN TO SOPHISTICATED AND PROFESSIONAL INVESTORS ONLY.

 

About Centuria Metropolitan REIT

 

The ASX-listed Centuria Metropolitan REIT invests in office and industrial assets in metropolitan markets across Australia.  The Fund owns a portfolio of quality metropolitan real estate assets delivering stable and predictable rental income with opportunities for value uplift through diligent asset management and repositioning strategies. The portfolio is well positioned to meet the Fund’s objectives to provide investors predictability and stability of income, through strong portfolio occupancy and weighted average lease expiry profile.

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