• Uniquely positioned as the only Australian real estate manager with both an ASX listed equity REIT and mortgage REIT
• Increased loan transactions, TCF capital raising, and growth in Private Credit Fund
• TOT portfolio improvements and positioned for growth, new 10-year IMAs for TOT and TCF
• Exit from HCP, new STI, buyback, and $78.8m special distribution

360 Capital Group (ASX:TGP) has announced its FY25 results, showcasing its unique position as the only Australian real estate manager with both an ASX listed equity REIT (TOT) and mortgage REIT (TCF). Key highlights include a 155% increase in loan transactions generating $1.5m in upfront fees, a 55.4% growth in TCF's gross assets, and continued growth in the Private Credit Fund. The TOT portfolio saw increased occupancy, non-core asset sales, and debt facility extensions, positioning it for further growth. The group also exited its HCP investment, implemented a new STI based on funds management growth, and conducted a $9.1m buyback. A significant $78.8m special distribution was announced, equivalent to $0.40 per security. Looking ahead, the group will focus on completing leasing at TOT's 510 Church Street property, growing the TCF and PCF loan portfolios, and pursuing opportunistic debt and equity opportunities amid market volatility. The dividend and distribution policy remains unchanged, with FY26 dividends/distributions forecast at 1.0cps.

The Group is forecasting FY26 dividends/distributions to be 1.0cps, given the significant special distribution and reduction in interest rates impacting income from the remaining cash balance.

The group expects the Australian commercial real estate market to have bottomed, with value opportunities starting to appear in the second half of 2025. Listed capital markets are opening up for selective asset classes, while debt capital remains competitive for high-quality assets. Capitalization rates are nearing the bottom of the cycle, and interest rates are expected to continue falling in 2025/26.