This article is from the Australian Property Journal archive
CENTURIA Industrial REIT has completed its $18.1 million acquisition of the Canning Vale DHL facility in Perth.
The 11,067 sqm modern logistics warehouse at 16-18 Baile Road was purchased at a 7.0% yield and with a 4.5-year weighted average lease expiry following an expansion last year.
“The acquisition of this property is consistent with our strategy to invest in fit-for-purpose, quality assets in established strategic locations and introduces a high quality tenant to CIP’s portfolio,” the trust’s fund manager, Ross Lees said.
Settlement of four acquisitions and a 3.9% revaluation increase over the six months to January took increased the trust’s portfolio value to $1.2 billion. Occupancy across the portfolio listed from 94.5% to 97.1%.
Australian Property Journal
