Centuria Capital Group
(ASX:CNI) has settled on the $106 million purchase of a Brisbane property, which takes its funds under management to $4 billion.
The property fund manager, through its Centuria Property Funds Limited (CPFL) acquired 1231 Sandgate Road, Brisbane.
It is an A-grade office building, fully occupied by a range of government and private sector tenants.
The acquisition forms part of Centuria’s active growth period, whereby it also undertook a capital raise and purchased the Scarborough House fund in April for $72.3 million.
Centuria Capital says its has seen a transformational period, with the business diversifying its property funds management and growing its market cap.
Shares in Centuria Capital Group
(ASX:CNI) are currently trading 0.81 per cent lower to $1.22.
