Key Highlights

• 360 Capital REIT (ASX:TOT) announced on 5 November 2026 that CEO James Storey has resigned to pursue an opportunity outside the group.

• Storey served 15 years with 360 Capital, including roles as Fund Manager of listed vehicles and latterly as CEO.

• Executive Chairman Tony Pitt will assume CEO responsibilities, supported by the broader 360 Capital team including CFO Glenn Butterworth.

• The fund maintains a 100% leased, modern diversified direct property portfolio with a strategy of allocating up to 25% of its Balance Sheet in structured real estate Equity investments.

360 Capital REIT(ASX:TOT), a diversified Australian real estate Investment trust, disclosed a Leadership transition on 5 November 2026 following the resignation of its Chief Executive Officer, James Storey. The departure, announced by 360 Capital FM Limited in its capacity as responsible entity, marks the end of a 15-year tenure with the group during which Storey held several roles across the business.

A 15-Year Tenure Comes to an End

James Storey's career with 360 Capital spanned a decade and a half, during which he served as Fund Manager for several of the group's listed vehicles before transitioning into the Chief Executive Officer position in 2022. His time encompassed the group's operations both as a listed company and more recently as an unlisted entity. Executive Chairman Tony Pitt acknowledged Storey's contributions, noting his involvement across numerous investments spanning both real estate Debt and equity. Storey is departing to pursue an opportunity outside the group, though the specific nature of his new role has not been disclosed.

Leadership Transition and Continuity

Tony Pitt, who serves as Executive Director and Chairman of 360 Capital Group, will take on Storey's responsibilities on an interim basis. Pitt will be supported by the broader 360 Capital management team, which includes Chief Financial Officer Glenn Butterworth and Investor relations Manager Jessica Mackenzie. The announcement did not indicate a formal search process for a permanent CEO replacement, suggesting Pitt may continue in the expanded role for the foreseeable future. Given Pitt's long-standing involvement with the group and his existing executive chairman position, the transition provides a measure of operational continuity.

About 360 Capital REIT

360 Capital REIT operates a 100% leased, modern diversified direct property portfolio. The fund's strategy includes allocating up to 25% of its balance sheet to structured real estate equity investments, which are intended to enhance income returns from the direct asset portfolio. The fund provides securityholders with consistent quarterly distributions. As the majority securityholder, 360 Capital maintains alignment with other TOT securityholders and operates with a disciplined investment philosophy centred on after-tax earnings, Earnings per security growth and potential capital gains. The Responsible Entity structure means 360 Capital FM Limited, holding an AFSL (221 474), manages the fund on behalf of all securityholders.

Sector Context and Governance Considerations

Leadership changes at real estate investment trusts can create periods of uncertainty, particularly when the departing executive has held the position for an extended period. In the case of 360 Capital REIT, the transition is somewhat mitigated by Pitt's existing executive role within the group and his familiarity with the fund's portfolio and strategy. However, investor attention will likely focus on whether the fund's investment approach or distribution policy undergoes any changes under the new leadership structure. The announcement was brief and contained no commentary on fund performance, asset valuations or distribution guidance, indicating business-as-usual operations are expected to continue.

The Takeaway

The departure of a long-serving CEO naturally raises questions about strategic direction, though the immediate assumption of responsibilities by Executive Chairman Tony Pitt provides continuity. For securityholders, the key focus in coming quarters will be on whether the fund's fully leased portfolio, structured equity investment strategy and quarterly distribution commitment remain unchanged under the revised leadership arrangement. Further clarity on succession planning and any strategic review would provide additional visibility for the market.