2 ASX 300 shares I’m close to buying next!

I’m always on the lookout for S&P/ASX 300 Index (ASX: XKO) shares that I could buy for my portfolio.

I’ve talked a lot about names like Tuas Ltd (ASX: TUA), Temple & Webster Group Ltd (ASX: TPW), and Pinnacle Investment Management Group Ltd (ASX: PNI) as being a great buying opportunity.

But there are also names in other sectors I’m heavily eyeing off that look like they’re trading at great value. It’s the current conditions and valuations that make these businesses look particularly compelling.

Soon enough, I’ll likely invest in one of the following ASX 300 shares.

Centuria Industrial REIT (ASX: CIP)

Of the two names I’m going to talk about in this article, I think I’m more likely to invest in this real estate investment trust (REIT).

It owns a portfolio of industrial property across Australia, which is exposed to strong rental growth tailwinds. At the time of writing, the Centuria Industrial REIT unit price has dropped by 18% from October 2025, making it much better value and close to the lowest point of the past five years.

The ASX 300 share is now trading at a 26% discount to the net tangible assets (NTA) of $3.95 as at 31 December 2025. While higher interest rates do justify a weakening of the unit price, I think the decline has been overdone, considering the tailwinds it has.

There are a number of areas that are driving higher demand for industrial space, including a growing population, online shopping adoption, more data centres, logistics requirements, and refrigerated space needs (for food and medical products).

The business reported in the first half of FY26 that its like-for-like net operating income (NOI) grew by 5.1%. I’m expecting further solid growth as more of its portfolio comes up for lease renewal – it noted that its portfolio is under-rented by roughly 20%, meaning there’s a lot of future operating earnings growth potential there.

Centuria Industrial REIT believes that growing tenant demand and constrained supply are expected to drive the national vacancy to less than 2% by 2030, providing further strong market rental growth.

As a bonus, it has a FY26 distribution yield of 5.7%.

Rural Funds Group (ASX: RFF)

Rural Funds is a farmland REIT that owns a variety of properties, including cattle, almonds, macadamias, vineyards, and cropping.

While farmland demand isn’t growing as strongly as industrial property, there is still growing demand for food as the national and global population grows.

The ASX 300 share benefits from rising rental income, with farms having contracts with annual indexation that’s either at a fixed rate or linked to inflation.

Farmland is an important asset for humanity, and I think that will continue to be the case for many years to come. Rural Funds looks very undervalued to me, as it’s trading at a 35% discount to its adjusted net asset value (NAV) of $3.10 as of 31 December 2025.

As a bonus, its FY26 distribution translates into a distribution yield of 5.8%.

The post 2 ASX 300 shares I’m close to buying next! appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has positions in Pinnacle Investment Management Group, Rural Funds Group, Temple & Webster Group, and Tuas. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Pinnacle Investment Management Group and Temple & Webster Group. The Motley Fool Australia has positions in and has recommended Pinnacle Investment Management Group and Rural Funds Group. The Motley Fool Australia has recommended Temple & Webster Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.