Centuria Industrial REIT (ASX:CIP) looking to raise $125m for acquistion

Company News

by Rachael Jones

Centuria Industrial REIT (ASX:CIP) it set to raise $125 million to fund the acquisition of three cold storage industrial facilities.

The storage units will cost around $171 million.

CIP will raise the necessary capital through a fully underwritten institutional placement, at an issue price of $3.06 a share, at 2.9 per cent discount to its Monday close price of $3.15.

Shares in Centuria Industrial REIT (ASX:CIP) last traded at $3.15.