Lederer Group wholesale partner for 201 Pacific Highway, St Leonards, NSW
Centuria Capital Group (ASX: CNI) is pleased to announce:
- Lederer Group to partner CMA in $172 million property
- Settlement to occur by 10 May 2018
- Unlisted wholesale assets to comprise $407 million ($4.6 billion total AUM).
Centuria has nominated The Lederer Group as a new wholesale partner for Centuria Metropolitan REIT (ASX: CMA), to acquire the remaining 50% interest in the $172 million 201 Pacific Highway, St Leonards property.
201 Pacific Highway, St Leonards is an A Grade property with NLA of 16,488sqm, strategically located above the St Leonards Railway Station and alongside CMA’s co-owned 203 Pacific Highway.
John McBain, Group CEO, said: “The Lederer Group are highly respected real estate investors who have strongly supported initiatives across the Centuria platform in recent years. This includes direct investments in CMA, Centuria Industrial REIT (ASX: CIP) and CNI itself.”
“As a business, we continue to grow and diversify our range of capital sources and we anticipate entering into further transactions with wholesale capital partners in the near term to partner both our listed and unlisted property fund management vehicles. This is on-strategy and designed to encourage strong AUM growth throughout the group.”
Paul Lederer, Chairman of The Lederer Group, said: “We are pleased to expand on our strong relationship with Centuria through our investment in this high-quality metropolitan office asset. Our continued investment in and with Centuria over the past four years is testament to our confidence in its property funds management platform, and we look forward to further building this relationship in the future.”