Centuria Property Funds No.2 Limited (CPF2L), as Responsible Entity of Centuria Industrial REIT (CIP), is pleased to announce the following:
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Acquisition of three high quality industrial assets (the Acquisitions) for a combined value of $59.3 million (excluding costs) with a further $10 million earmarked for capital expenditure to enhance the assets;
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An underwritten institutional placement to raise $70 million (Placement) at an issue price of $3.05 per CIP unit (Issue Price) to fund the Acquisitions and associated transaction costs;
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A non-underwritten Unit Purchase Plan (UPP) to eligible unitholders in Australia and New Zealand to raise up to $5 million1 at the Issue Price;
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CIP has independently revalued 9 of its existing 42 properties resulting in an increase of $24.1m (8.5%) on prior valuations;
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FY20 debt re-finance completed with no maturities until FY22; and
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FY19 and FY20 guidance update with a transition to reporting Funds From Operations (FFO).
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