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CENTURIA CAPITAL GROUP — Capital/Financing Update 2017
Apr 4, 2017
64677_rns_2017-04-04_b56cb24e-42a3-45c5-af6e-84fe8558e417.pdf
Capital/Financing Update
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Australian Securities Exchange - Company Announcements Platform
Centuria Capital Group
New $106 million property fund to bring Group FUM to $3.8 billion
Sydney, 5 April 2017
Centuria Capital Group (“Centuria” or ASX: CNI) is pleased to announce:
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New $106 million property fund launched today
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Centuria Capital Group total funds under management (FUM) to increase to $3.8 billion
Centuria Property Funds Limited (“CPFL”), a wholly owned subsidiary of Centuria Capital Group, has today entered into put and call arrangements to acquire 1231 Sandgate Road, Nundah (the “Property”) for $106.25 million.
The Property will be acquired by the Centuria Sandgate Road Fund (“Fund”); a new Centuria single asset unlisted property fund, launched to investors today. Settlement is scheduled for early July 2017.
A modern, A-grade office building, centrally located in the metropolitan Brisbane suburb of Nundah, with a net lettable area (NLA) of 12,980 square metres. It is 100 per cent occupied by a range of government and private sector tenants, with a weighted average lease expiry (WALE) of 9.3 years as at 1 July 2017. Government owned entities comprise 81 per cent of the Property’s income.
Centuria CEO John McBain said:
“This acquisition is consistent with Centuria’s deliberate strategy to enhance organic growth in FUM by acquisition. The acquisition of this Property, combined with previous acquisitions in this financial year, will increase the Group’s property FUM by $457 million to $3.05 billion, which will bring the Group’s total FUM $3.8 billion.”
“The new Fund closely follows the highly successful $72 million Centuria Scarborough House Fund which was heavily oversubscribed. The Unlisted Property division, led by Jason Huljich, has worked hard to identify, research and produce an investment offering of this quality and we believe the Fund is well suited to Centuria’s distribution network.”
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For more information or to arrange an interview, please contact:
John McBain
CEO
Centuria Capital Limited Phone: 02 8923 8910 Email: [email protected]
Shalome Ruiter
Investor Relations Manager
Centuria Property Funds Limited Phone: 02 8923 8962 Email: [email protected]
Katy Lithgow
Consultant BlueChip Communication Phone: 02 9018 8603 Email: [email protected]
About Us
Centuria Capital “CNI” is an ASX-listed specialist investment manager with $3.8 billion in funds under management. We offer a range of investment opportunities including listed and unlisted property funds as well as tax-effective investment bonds. Our drive, allied with our indepth knowledge of these sectors and intimate understanding of our clients, allows us to transform opportunities into rewarding investments.
Any forward looking statements included in this announcement involve subjective judgment and analysis and are subject to significant uncertainties, risks and contingencies, many of which are outside the control of, and are unknown to, CNI and its directors. In particular, they speak only as of the date of this announcement, they assume the success of CNI’s business strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties, risks and other factors. Actual future events may vary materially from forward looking statements and assumptions on which those statements are based. Other than as required by law, although they believe there is a reasonable basis for the forward looking statements, neither CNI nor its directors, officers, employees or any related body corporate, gives any representation, assurance or guarantee (express or implied) as to the accuracy or completeness of any forward looking statement or that the occurrence of any event, result, performance or achievement will actually occur. Recipients are cautioned not to place undue reliance on such forward looking statements.
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