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Centuria Acquisitions and Market Update

December 8, 2017

Centuria announced this week;

  • A $115 million increase of fund property valuations across the Centuria platform

  • Acquisition of 50% interest in 201 Pacific Highway for $86 million to establish new Centuria wholesale property fund

  • Centuria Metropolitan REIT’s (ASX:CMA) acquisition of the other 50% interest in 201

  • Pacific Highway, along with 77 Market Street, Wollongong for a combined value of $119 million, and 

  • A $60million rights offer being to fund the Centuria Metropolitan REIT’s acquisitions.


Acquisition

 

201 Pacific Highway

Centuria has agreed terms with Abacus Funds Management to acquire 100% of the asset for $172M with 50% being held under a put & call arrangement for a new wholesale fund and the remaining 50% to be held by Centuria Metropolitan REIT.  The 16,578sqm asset sits above the St Leonards Railway station with a 3.5 year WALE. The acquisition price represents a yield of 6.5%.

 

77 Market Street

Centuria Metropolitan REIT also announced the acquisition of a 6,755sqm A Grade building at 77 Market Street Wollongong for $33.3M on a 7.25% yield.

 

 

Announcement

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