Centuria grows AUM to $4.5bn with new acquisition
Centuria has announced that its Centuria Property Fund has made a $115.25 million acquisition of a Geelong building which helped grow the total asset under management (AUM) to $4.5 billion.
The company also said that the Geelong property would be acquired by the Centuria Geelong Office Fund, its new single asset unlisted property fund which would be launched in February, 2018.
Following a management restructure last year, Centuria’s property funds management is now led by Jason Huljich who is responsible for both listed and unlisted property, the property services business, acquisitions and disposals, special property and debt opportunities.
Huljich said that he would expect strong demand from investors, underpinned by a new Geelong fund which saw a 10-plus year lease to a state government.
“The acquisition complements our investment philosophy and offers reliable, long term income for investors,” he added.
“The building is centrally located in the thriving regional city of Geelong, which is benefiting from the relocation of a number of government agencies, including WorkSafe and the National Disability Insurance Agency.”
AUTHOR
Oksana Patron
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