Centuria (ASX:CNI) buys Visy glass facility in New Zealand

Company News

by Rachael Jones

Centuria (ASX:CNI) has announced the NZ$178.3 million acquisition of the Visy glass facility in Auckland, New Zealand.

The Visy Facility will be acquired via a sale and leaseback, underpinned by a 20-year triple net lease to Visy.

It will form a new NZ single asset unlisted fund to be launched by Augusta Capital which will be underwritten by Centuria.

The acquisition is the largest single asset unlisted fund launched by the Centuria Group to date.

As a result of the acquisition, Centuria’s assets under management increase to approximately $10 billion.

Centuria also announced a fully underwritten $100 million equity raising.

Shares in Centuria (ASX:CNI) shares last traded at $2.29.
 
Picture Source: Centuria Capital