Centuria Industrial REIT (ASX:CIP) acquires Arndell Park distribution centre

Company News

by Michael Luu

Centuria Industrial REIT (ASX:CIP) has added a distribution centre in the strategic infill market of Arndell Park to its $784 million pipeline of industrial asset acquisitions in FY21.

The 1.9 hectare property was purchased for $27 million from existing debt, with settlement scheduled for September 2021. CIP’s 13th acquisition in 2021 was seized on a 2.2-year Weighted Average Lease Expiry, fully let to civil and construction infrastructure supplier Jaybro.

Shares in Centuria Industrial REIT (ASX:CIP) are trading 0.59 per cent lower at $3.38