Centuria Industrial REIT (ASX:CIP) buys Arnott's properties in Queensland

Company News

by Rachael Jones

Centuria Industrial REIT (ASX:CIP) has acquired two industrial assets via a sale and leaseback with biscuit maker Arnotts for $236 million.

The purchase of the two properties, located in Virginia, Queensland and Marleston, South Australia, will be funded in part by a $154 million institutional placement.

Centuria’s Head of Funds Management, Ross Lees says "Following the transaction, the portfolio value will increase to over $1.5 billion cementing CIP’s position as Australia’s largest pure play industrial REIT and increases CIP’s near-term prospects for inclusion in the S&P/ASX200 index.”

Shares in Centuria Industrial REIT (ASX:CIP) last traded at $3.55.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.