Centuria Industrials Acquires Arnott's Facilities

  • Dec 11, 2019 AEDT
  • Team Kalkine

The responsible entity of Centuria Industrial REIT (ASX: CIP), Centuria Property Funds No.2 Limited has acquired two high quality industrial assets through a sale and a leaseback with Arnott’s for $236 million.

  • The company will also raise approximately $154 million through a fully underwritten institutional placement at an issue price of $3.41 per unit to partially fund the acquisition;
  • The company has independently revalued 9 of the 46 existing properties and it resulted in an increase of $19 million or 9.5% on prior valuation;
  • The company has also reaffirmed its FY20 FFO and FY20 DPS.

At AEST 01:07PM, the stock was trading at $3.550 per share, no change from its previous close.


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