Centuria Metropolitan REIT's transition from a diversified property fund to focus its attention on the strong office market is paying off, with the recording of an uplift in funds from operations to $61.2 million over the year to June.

The Metropolitan REIT sold its last industrial asset in January, for $24.2 million, and is now Australia's largest pure-play office REIT listed on the ASX. During the 12 months to June 30, CMA acquired four office assets on the east coast for a total $520.9 million, bringing the value of its portfolio of 20 properties to $1.4 billion.