mcs update, page-2

Smbi

Thumbs up from me mate

Alot of positives to take out from that update

The 15 Californian properties operated by Centro MCS32 as mentioned on page 1 is actually 48.5% owned by CER. These properties form part of the Centro Watt REIT portfolio.

This REIT trust is a good little money earner for CER. Before CER and CNP joined forces to purchase New Plan, Centro Watt REIT was a fairly material part of their business and featured detailed analysis in each of CER's HY and annual reports. Profits from this REIT is not quarantined and contributes about 1c EPS for CER each year.

Anyway below is something taken from page 2 of the update.

Best Buy is one of CER's top tenants.

Very positive little blurb indeed

Thanks again Smbi

Cheers


BEST & LESS…
A RETAILER FOR THE TIMES
Best & Less operates 19 stores across Centro’s managed property portfolio with more on the way. Centro regularly meets with Best & Less to review the performance of its stores and to discuss opportunities for expansion into other Centro shopping centres.
“The Best & Less range, which includes fashion and footwear for the entire family as well as quality bed and bath linens, fills an important niche at our centres,” said Mark Wilson, General Manager – Property Operations Australia for Centro.
THE CENTRO DIFFERENCE
Centro MCS believes that the Best & Less philosophy of delivering better quality, better prices, better range and an overall better shopping experience is the reason the retailer is performing particularly well in today’s economy.
“Centro’s business relationship is closely aligned with ours,” said
Peter L. Millist, Executive Director Property of Best & Less. “They understand that a mutually profitable association works well
for everyone, and they are always willing to listen to our point of view.”