CEO James Storey resigns from 360 Capital as Tony Pitt steps in
360 Capital REIT (ASX:TOT) announces that James Storey has resigned as Chief Executive Officer of 360 Capital to pursue an opportunity outside the Group. The announcement was made on 5 November 2026 by 360 Capital FM Limited (Responsible Entity) as responsible entity of the 360 Capital REIT.
Tony Pitt, 360 Capital Group Executive Chairman, will assume James’s responsibilities, supported by the broader 360 Capital team. Leadership therefore passes to an existing senior figure within the Group.
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Fifteen years inside the Group
James Storey’s tenure with 360 Capital spans a number of roles, as outlined in the announcement:
- 15 years with 360 Capital
- Fund Manager of several of the Group’s listed vehicles
- Chief Executive Officer of the Group as both a listed company and, more recently, as the unlisted company
- Transitioned to Chief Executive Officer in 2022, according to Tony Pitt
Mr Pitt acknowledged the contribution made during that time:
Tony Pitt, Executive Chairman, 360 Capital Group
“James has been with the Group for 15 years, during which time he has been the Fund Manager for several of the Group’s listed funds before transitioning to the Chief Executive Officer of the Group in 2022. On behalf of the Board, I would like to thank James for the contribution he has made to the business and the funds during his tenure at 360 Capital which has encompassed many investments across both real estate debt and equity. We look forward to watching James next chapter of his career.”
What the change means for TOT securityholders
Understanding the role of the responsible entity and manager
A real estate investment trust (REIT) such as TOT is overseen by a responsible entity, which in this case is 360 Capital FM Limited. The fund is managed by 360 Capital.
Because the manager runs the fund’s investment approach day to day, a change in its senior leadership is relevant to securityholders. In this instance, Tony Pitt will assume the departing Chief Executive Officer’s responsibilities.
A stable strategy and aligned manager
The announcement’s description of TOT sets out the fund’s approach, which is detailed below.
| Feature | Detail |
|---|---|
| Property portfolio | 100% leased modern diversified direct property portfolio |
| Strategy | Allocating up to 25% of its balance sheet in structured real estate equity investments to enhance the income returns from its direct portfolio of assets |
| Distributions | Consistent quarterly distributions |
| Manager alignment | 360 Capital is the majority securityholder, aligned to fellow TOT securityholders |
| Investment focus | TOT’s after-tax earnings, earnings per security growth and potential capital gain |
360 Capital, as the majority securityholder, is described as aligned to fellow TOT securityholders. The fund’s stated investment philosophy remains focused on after-tax earnings, earnings per security growth and potential capital gain.
The fund’s FY26 earnings growth of 33% and upgraded FY27 per-security guidance show how that stated focus on earnings per security has translated into reported results, with the distribution yield forecast to be fully tax deferred.
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