Centuria’s $86.1 Million Acquisition of 3 Industrial Assets

HWL Ebsworth has advised Centuria Industrial REIT on the acquisition of 3 industrial assets in Victoria and Sydney.

Centuria Industrial REIT (ASX:CIP), has secured a high-quality industrial portfolio worth $86.1million on a blended initial yield of 5.0% and a portfolio Weighted Average Lease Expiry (WALE) of 5.8 years. All properties are 100% occupied and secured off-market.

The three eastern seaboard industrial assets are within core Sydney and Melbourne industrial precincts where CIP has existing assets, building on the REIT’s strategic landholdings while providing value-add opportunities to leverage the sites’ potential.

The portfolio transaction will be funded through existing debt facilities.

CIP is Australia’s largest domestic pure-play industrial REIT. 

The Sydney acquisition was led by Anthony Jreige (Picture, Partner) with support from Fiona David (Senior Associate), Leith Sawalha (Solicitor) and Christina Tohme (Solicitor).

The Victorian acquisitions were led by Rupert Lugo (Senior Associate) with support from Adele Carrubba (Solicitor). Mathew de Gouveia (Associate), Eleanor Athanasiou (Associate) and Jared Hosking (Solicitor) also worked on the Victorian transactions.

 

Involved fees earner: Eleanor Athanasiou – HWL Ebsworth; Adele Carrubba – HWL Ebsworth; Mathew de Gouveia – HWL Ebsworth; Jared Hosking – HWL Ebsworth; Anthony Jreige – HWL Ebsworth; Rupert Lugo – HWL Ebsworth; Fiona Sarkis – HWL Ebsworth; Leith Sawalha – HWL Ebsworth; Christina Tohme – HWL Ebsworth;

Law Firms: HWL Ebsworth;

Clients: Centuria Industrial REIT ;

Author: Sonia Carcano