POWERED BY MOMENTUM MEDIA
Centuria secures $202m retail asset on behalf of insto mandate
Centuria Capital has made a $202 million retail off-market acquisition in Brisbane under its existing sovereign wealth fund’s institutional mandate, which will also see Centuria co-invest alongside the investor.
The acquisition of Brisbane’s West Village, which included existing properties as well as assets yet to be constructed, was a part of Sekisui House’s $1.1 billion master planned missed-use development.
“We are pleased to secure this rare, off-market retail opportunity. West Village builds on the existing $313.3 million of quality retail assets within our existing daily needs retail (DNR) mandate, alongside a well-established institutional investor within our unlisted distribution network,’ Centuria’s joint chief executive, Jason Huljich, commented on the move.
West Village encompassed around 16,560sqm of modern retail facilities in addition to hospitality, wellness and office accommodation throughout five buildings and the transaction, anchored by two supermarkets, was expected to provide a 10.1-year weighted average lease expiry (WALE) with 100% occupancy.
The assets would be settled between early 2022 and early 2023, the company said in the announcement made to the Australian Securities Exchange (ASX).
Recommended for you
As market volatility persists, some super funds are pivoting defensively, while others are strategically positioning to capitalise on emerging opportunities.
New data has shown a progressive deterioration in risk appetite among instos even prior to Donald Trump’s latest round of tariffs.
UniSuper has reached “peak investment” in US assets and is now preparing to reassess its exposures amid ongoing sharemarket volatility.
Investors have slashed their US equity allocations to the lowest level on record, according to new data from Bank of America.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
