This article is from the Australian Property Journal archive
CENTURIA Capital Group’s absorption of Primewest to create a real estate fund with $16.8 billion of assets under management has paved the way for its inclusion in the S&P/ASX 200 Index.
The status will be effective from open of trading on Friday, as announced by S&P Dow Jones.
Centuria oversees the assets under management across six asset classes, within debt and equity markets. This includes $5.4 billion of listed funds and $10.5 billion of unlisted funds, as well as a $0.9 billion investment bonds business.
Its assets under management has experienced a 45% compound annual growth rate over the past four years.
“Our growth strategy has included corporate acquisitions as well as direct real estate acquisitions. Our corporate acquisitions this year alone include a 50% interest in real estate debt fund provider, Bass Capital, and the merging with a $5 billion AUM real estate fund manager, Primewest,” John McBain, Centuria joint CEO said.
Centuria initiated compulsory acquisition of outstanding securities in Western Australia-based Primewest last month following a $600 million deal.
Fellow joint, CEO Jason Huljich said Centuria has been very active over the past 12 months with over $1 billion in industrial acquisitions, principally in Centuria Industrial REIT, and is currently finalising a $224 million single asset unlisted office fund with a long-term government lease for a newly acquired A-grade office building in Melbourne’s inner western suburb of Footscray.
“In addition, we have a strong $1.6 billion development pipeline which is helping create stock for new fund creation,” Huljich said.
Centuria Industrial REIT joined the S&P/ASX 200 Index in June last year, while the Centuria Office REIT is included in the S&P/ASX 300 Index.
