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Centuria Capital increases stake in Centuria Industrial REIT

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Centuria Capital increases stake in Centuria Industrial REIT

Centuria Capital Group increased its interest in subsidiary Centuria Industrial REIT to 17.75%, with the acquisition of 3.97% of the latter's securities.

The strategic investment marks the first phase of capital deployment, secured from the parent company's A$60 million equity raise.

Separately, Centuria Capital and Centuria Industrial REIT collectively own a 17% stake in Propertylink, which the duo made a play for, bidding 95 Australian cents per security for the latter's outstanding securities. Propertylink eventually rejected the takeover bid.