Centuria Capital Group
(ASX:CNI) has snapped a 17 per cent stake in industrial real estate group, PropertyLink Group
(ASX:PLG)The property investment manager acquired a 9.3 per cent stake for $53 million in the group, while its Centuria Industrial REIT
(ASX:CIP) also bought a 7.7 per cent stake in PropertyLink.
Centuria Capital funded the acquisition through cash reserves and its recently completed $25 million corporate bond issue.
Both Centuria Capital and its Industrial REIT say they will strike up discussions with PropertyLink on potential strategic initiatives.
Shares in Centuria Capital Group
(ASX:CNI) are trading up 0.79 per cent higher to $1.27,