Centuria Office REIT (ASX:COF) is optimistic on Australian office markets over the medium-term, underpinned by diminishing forecast supply, elevated replacement costs associated with development and capital expenditure requirements, and signs of improving net absorption and reduced sub-leasing activity, its fund manager, Belinda Cheung said in a Thursday Australian bourse filing.
Centuria Office REIT said that 8,467 square meters of lease terms were agreed across 11 separate transactions in the March quarter, including 7,011 square meters of new leases.
It reported a portfolio occupancy of 91.4%.
The REIT reaffirmed its fiscal year funds from operation guidance of AU$0.118 per unit and distribution guidance of AU$0.101 per unit.
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