Centuria Metropolitan REIT raised a total of A$179 million upon the completion of its underwritten institutional placement and the institutional component of its accelerated non-renounceable entitlement offering.

Approximately 33 million securities priced at A$2.43 apiece will be issued as part of the institutional placement, while about 41 million securities will be issued under the institutional component of the entitlement offer, according to the company.

Along with an approximately A$97 million retail component of the Australia-listed trust's entitlement offering, the completed portions form part of a A$276 million equity raising, which will be used to partially fund Centuria Metropolitan's recent A$500.9 million deal for the acquisition of Hines Global REIT Inc.'s four properties across the country.

The retail component of the entitlement offer will commence Oct. 16.

Moelis Australia Advisory Pty. Ltd. and UBS AG's Australian branch are the underwriters for the equity offering, while Shaw & Partners is serving as co-lead manager. HWL Ebsworth is the legal adviser to Centuria Property Funds Ltd., the responsible entity of Centuria Metropolitan.