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Centuria Capital Group (Centuria ASX: CNI) has announced two internal promotions effective 21 June 2019. Jason Huljich, previously Head of Real Estate and Funds Management, will join John McBain to co-lead the Group. Ross Lees, previously Fund Manager, Centuria Industrial REIT (ASX: CIP), will assume Jason Huljich’s previous role as Head of Funds Management for the group.
Centuria Capital has experienced rapid growth with assets under management now exceeding $6.0 billion*. This is in line with the Group’s strategy to grow into adjacent sectors which are a good fit with existing capabilities. In order to enable continued growth, the Board has a long-term strategic plan that includes developing leaders and building additional depth to its senior management team.
The appointments are announced as Centuria officially opens new offices in Chifley Tower to accommodate its growth. This growth includes Centuria’s move into healthcare real estate in April 2019 with the acquisition of a controlling stake in Heathley. It also entered into the social and affordable housing sector, via its agreement with the Government’s National and Affordable Housing Agreement and the NSW State Government’s Social and Affordable Housing Fund in June 2019. And additionally, in 2018 the Group successfully completed capital raising to fund the acquisition of $645 million of assets from Hines Global REIT, Inc.
As a founder Jason Huljich has worked alongside John McBain for twenty-one years, influencing and implementing the strategy. The joint CEOs believe that continuing their successful partnership will best allow the Group to execute on its ambitions and deliver value.
Centuria Capital Chairman, Garry Charny notes that “Jason is part of the DNA of Centuria and this promotion has been championed by his co-founder and joint CEO, John McBain. The Board could not imagine two better stewards of the company in the years ahead and to continue its growth and successes for the benefit of all securityholders.”
John McBain congratulated Jason Huljich and Ross Lees on their appointments, adding: “Centuria has a strong commitment to promote from within. Ross has made a strong contribution in his current role and will ably support both Jason and I in the execution of our growth strategy. Ross continues in his CIP role pending finalisation of the appointment of a new CIP fund manager.”
Mr Charny concluded, “With a clear strategy, a reinforced management structure and growing investor support, Centuria is well positioned for the future.”
*assuming completion of the Heathley Limited acquisition