Deal caps off active 1H FY18, with of $655 million in quality property assets acquired.
Centuria Capital Group (ASX:CNI) is pleased to announce that its subsidiary, Centuria Property Funds Limited, has today unconditionally exchanged contracts to acquire 60 Brougham Street, Geelong, Victoria for $115.25 million.
The property will be acquired by the Centuria Geelong Office Fund, a new single asset unlisted property fund which will be launched in February 2018. On settlement, total Centuria assets under management (AUM) will be $4.5 billion.
The A-Grade building is 100% occupied, with 94% of its income underpinned by a long-term lease to AAA-rated Victorian State Government entity, the Transport Accident Commission (TAC).
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