100% leased to SA Government, proximity to Australian naval infrastructure precinct
High quality, A-grade commercial office building, 100% occupied, 11.1 year WALE
1
Predominately leased to Shared Services SA, proximity to $90 billion Osborne shipbuilding precinct
6 star NABERS energy rating, 6 star Green Star Design rating
Secured for single-asset, closed ended unlisted fund,
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Primewest Group has begun a new chapter in its 26 year history by merging with the ASX-200 listed Centuria Capital Group (ASX:CNI), creating a broad Australasian real estate investment platform with $17.4 billion of assets under management.
In April 2021, Centuria made an off-market takeover offer for 100% of Primewest securities, which was accepted by Primewest securityholders.
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$17.4 billion AUM
1 (+98% on FY20); unlisted funds +175% ($11 billion), listed fund +37% ($5.5 billion)
$2.5 billion direct real estate acquisitions; six unlisted funds launched; $1.9 billion development pipeline
2
Fully acquired and integrated Primewest and NZ’s Augusta Capital; 50% Bass Capital investment
62% 12-month Total Shareholder Return
3;
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Often when people think of unlisted property funds, they consider an equity investment in a physical real estate asset. However, an alternative real estate vehicle is an unlisted debt fund, that provides the finance for developers to build a new property.
While the risk profiles of debt funds differ from equity funds, so do the return profiles.
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Four developments valued over $72M
Centuria Capital Group’s (ASX:CNI) development division has completed 190 affordable homes across four Central Coast NSW projects, collectively worth $72 million with all projects achieving practical completion and settlement in June 2021.
The developments, located within the Newcastle and Gosford communities, were simultaneously developed throughout an 18-month construction period.
The schemes deliver vital housing for the NSW Central Coast &
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Everyone talks about estate planning, but what exactly does that involve and why is it so important?
Estate planning is the preparation of documentation and tasks that will manage an individual’s assets and wellbeing in the event of their incapacitation or death. Estate planning may include the following:
A Will (which sets out any division and bequest of your estate)
A Power of Attorney (which gives a trustee or person the legal authority to manage your assets and make financial and legal decisions on your behalf)
Enduring Power of Attorney (a legal document that appoints an enduring attorney(s) to make health and lifestyle decisions on your behalf if you become unable,
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Throughout the March Quarter and into the final quarter of FY21, Centuria has undertaken significant real estate transactions, leasing transactions and corporate transactions. Joint CEO, John McBain, provides an overview of Centuria’s M&A activity – including our proposed merger with Primewest (ASX: PWG). Fellow Joint CEO, Jason Huljich, talks with our new Joint Venture partner, Bass Capital – a real estate debt fund provider.
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The new $17m oncology facility at St John of God Murdoch Hospital has reached a construction milestone with the development topping out, signalling the new cancer-care facility is on track for practical completion by November 2021 and opening in early 2022.
The project’s construction partner Built, developer Centuria Capital Group
1, and leading global oncology provider GenesisCare celebrated with St John of God executives at a ceremony on the development’s newly completed rooftop.
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Portfolio grew to more than $2.6 billion
$196m portfolio valuation uplift or 8.3% on a like for like basis from prior book values
1
Four high-quality acquisitions for $90.5m
2 during Q3 brings FY21 year to date transactions to $784m
56,173sqm (5.3% of portfolio GLA) of lease terms agreed
3 increasing occupancy to 98.8% and a 9.7-year Weighted Average Lease Expiry (WALE)
4
Reaffirmed FY21 FFO guidance of no less than 17.6 cents per unit (cpu) and distribution guidance of 17.0 cpu
5
Centuria Industrial REIT (ASX: CIP) continued its strong growth momentum throughout the March quarter,
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8.1% portfolio value increase on a like for like basis, during Q3 FY21
1
46bps increase in total portfolio WACR to 4.96%
2
Proforma NTA increased to $3.32 per unit
3
Total portfolio value increased to $2.6bn
4.
Australia’s largest listed pure-play industrial fund, Centuria Industrial REIT (ASX: CIP),
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