Centuria Capital Group (ASX: CNI or “Centuria”) has secured a new $500million institutional investment mandate on behalf of a significant US private investment firm. The mandate, known as Last Mile Logistics Partnership (LMLP), will focus on acquiring assets within supply-constrained infill industrial markets across Australia.
LMLP is seeded with a $76million three-asset portfolio, with the properties located within key urban Melbourne industrial precincts. All assets were transacted off-market and settled on 8 September 2023.
Jason Huljich, Centuria’s Joint CEO, said, “Centuria has significant experience in securing high-quality industrial real estate across Australia, which is increasingly recognised by domestic and offshore institutional capital. Centuria’s institutional capital investments now total $2.2billion across the logistics, healthcare, daily needs retail and office property sectors. The new LMLP mandate adds to Centuria’s deep distribution network as we continue to secure further capital sources across the Group.”
Australia’s industrial vacancy rate of less than one per cent1 is one of the lowest on a global scale and these supply constraints are driving exceptional rental growth, particularly within tightly held last-mile urban infill markets. Centuria’s $6billion industrial platform consists of c.160 properties across Australia and New Zealand2, which are highly concentrated in infill logistics markets.
LMLP is the second industrial institutional capital partnership secured by Centuria in the last 12 months
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