Centuria Metropolitan REIT (ASX: CMA) has announced the successful acquisitions of two NSW metropolitan office assets for $119.1M. A 100% freehold interest in 77 Market St, Wollongong NSW for $33.3M on a 7.25% yield, and a 50% freehold interest in 201 Pacific Highway, St Leonards NSW for $85.8M on a 6.5% yield. During the week, CMA also correspondingly announced an entitlement offer to raise approximately $60M (Equity Raising) at an issue price of $2.39 per security. The REIT has already completed the institutional component of the entitlement offer, raising $26M. The remaining $34M is expected to be raised the following week.
The Australian Prime Property Fund Commercial (APPF Commercial), managed by Lendlease (ASX: LLC), has become the first fund in Australia to be awarded a six-star performance rating across its property portfolio. The fund is ranked number one internationally out of 850 funds in the 2017 Global Real Estate Sustainability Benchmark.
Asia Pacific Data Centres (ASX: AJD) was the strongest performer during the week, up 9.9%.
Major Announcement, the RBA has held the cash rate at 1.5% at its December 2017 meeting.