Centuria Industrial REIT (ASX:CIP), Australia’s largest listed domestic pure-play industrial REIT, has released its full-year financial results for FY23.

The company reported $108.1 million in Funds From Operations (FFO), a 16.4% 12-month Total Shareholder Return (TSR), and FY24 FFO guidance of 17 cents per unit (cpu).

Its balance sheet was strengthened with 88% hedged debt, 33.1% gearing, and no debt expiry until FY25.

The REIT also announced $215 million in divestment proceeds, 30% positive re-leasing spreads, and a portfolio of 89 high-quality industrial assets worth $3.8 billion.

"Throughout FY23, CIP continued to capitalise on strong leasing momentum, accelerated re-leasing spreads, and maintained a robust balance sheet to deliver a solid set of results," said Jesse Curtis, fund manager, and Centuria's Head of Industrial.