Centuria Industrial REIT (ASX:CIP) buys a Queensland cold storage facility

Company News

by Rachael Jones

Centuria Property Funds No.2 as Responsible Entity of Centuria Industrial REIT (ASX:CIP) has bought acold storage facility in Queensland, for $43 million.

In FY21, CIP’s portfolio has now expanded by six assets worth a combined $523 million.

The Ormeau property is 100 per cent occupied by Markwell Cold Storage, a subsidiary of Competitive Foods Australia, which is one of the largest privately owned companies in the Australasia food sector.

The asset provides a WALE of 6.5 years at acquisition.

The acquisition will be funded with CIP’s existing debt facilities.

Shares in Centuria Industrial REIT (ASX:CIP) shares are steady at $3.17.