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Centuria Industrial affirms FY'19 guidance

Centuria Industrial REIT affirmed its distributable earnings guidance for the 2019 fiscal year in the range of between 18.5 Australian cents per unit to 19.0 cents per unit, with distributions set at 18.4 cents per unit.

In its operating update for the first quarter of the reporting fiscal year, the industrial-focused real estate investment trust noted that it has made A$114 million worth of transactions, which include the A$46.3 million divestment of its interest in Propertylink Group and the A$42 million purchase of the Cargo Park asset in Westmeadows in the state of Victoria, Australia. The company also secured leasing deals for 29,113 square meters of space, or 3.9% of its total portfolio area.

Additionally, the company said its pro-forma net tangible assets increased by 5.1% to A$2.69 per unit, following the completion of revaluations of its entire portfolio Sept. 30.