- $60.2m equity raise by Asset Plus Limited (NZX: APL or “Asset Plus”)
- $12.1m placement (“Placement”)
- $48.1m 1 for 1.01 accelerated non-renounceable entitlement offer (“Entitlement Offer”)
- Funding for NZ $120m commercial development with a 15-year pre-commit from Auckland City Council
- Centuria, via Augusta Capital, seeks to increase its Asset Plus holding to 19.99%
- Augusta Capital Limited de-listed from the NZX and acquisition of outstanding securities complete
Centuria Capital Group (ASX: CNI or “Centuria”) reports that Asset Plus is undertaking a $60.2m equity raise through an underwritten Placement and Entitlement Offer. Asset Plus is managed by Augusta Capital Limited.
The equity raise provides funding under the Agreement to Develop and Lease for the 6-8 Munroe Lane, Albany, Auckland project. The development is being undertaken with a substantial pre-commitment from Auckland Council for an initial 15-year lease.
APL shareholders will meet to consider the approval of the Munroe Lane development on Tuesday, 29 September 2020. Centuria Capital, via Augusta Capital, is supportive of the Munroe Lane Development and is seeking to increase its stake in Asset Plus from 18.85% to 19.99% through participation in the equity raise.
John McBain, Centuria Joint CEO, said “Augusta Capital has continued to undertake logical initiatives for platform growth. Following the Augusta Property Fund launch and oversubscribed raise for the NZ$55m Anglesea Medical Centre within Augusta Capital Limited, the Munroe Lane initiative, when complete, will constitute a major asset backed by a long lease commitment to a quality government tenant and is a clear opportunity for the Asset Plus REIT to expand its portfolio through a blend of growth and yield.
“Augusta Capital was recently de-listed from the NZX and the compulsory acquisition of their remaining securities has been completed. We intend to operate the business as a 100% subsidiary and are focused on completing the integration of the business. We are supportive of APL’s Munroe Lane opportunity and continue to work closely with the team to expand Centuria’s presence across the New Zealand market.”
Centuria NZ and Hancocks create sustainable industrial warehouse in Mangere
Centuria NZ Industrial Fund (“Centuria”) and Hancocks, who are one of the largest distributors of wine and spirits in New Zealand, are working together to further enhance the new, purpose-built 9,811sqm industrial warehouse in Mangere, Auckland, with a focus on reducing the building’s environmental footprint with sustainability initiatives. The 78 Tidal Road property was acquired by Centuria in November 2020.
6-8 Munroe Lane has officially obtained a 5 Green Star – Design & As Built NZv1.0 Certified Design Review rating
We are pleased to announce that Asset Plus‘ 6-8 Munroe Lane project in Albany, Auckland, managed by Centuria New Zealand, has officially obtained a 5 Green Star – Design & As Built NZv1.0 Certified Design Review rating. The green building rating scheme certifies projects that slash waste to landfill, responsibly sources materials and create spaces that better serve the environment and end user.
New healthcare property fund kicks off with substantial aged-care investment
Following on from successful capital raises within both the commercial and industrial property sectors totalling around $240 million last year, a new Centuria managed fund will be seeking $121 million from investors for the launch of a new healthcare property fund. The funds will be used to acquire a total of 23 properties, comprising aged care facilities located throughout New Zealand,
International Women’s Day 2022
This International Women’s Day we asked five Centurians to share their thoughts on being a working woman in 2022. Hear from our colleagues in Auckland, Sydney, Brisbane, Melbourne and Perth.
Centuria Secures $291m Aged Care Property Portfolio
$291m aged care portfolio acquisition; 38 facilities across NZ; blue-chip operator Heritage Lifecare 30-year1 sale and leaseback transaction; triple-net leases; 100% occupancy2 Acquired by two Centuria unlisted funds: Centuria New Zealand Healthcare Property Fund (NZ) – 25 assets Centuria Healthcare Property Fund (Australia) – 13 assets Leading Australasian real estate funds manager,
Billion-dollar Queenstown development dubbed ‘Alpine Britomart’ a step closer to reality
Lakeview | Taumata, the stunning residential, hospitality, and retail precinct planned as an expansion to Queenstown’s CBD has taken a significant step forward with the first stages referred into the Government’s expert consenting panel for consideration under the Fast Track Consenting Act 2020 (FTCA). Lakeview | Taumata sits on a 10-hectare elevated terrace at the edge of the CBD offering iconic views across Lake Whakatipu and the Remarkables.
Centuria NZ Settles the Acquisition of Brand New Industrial Asset on Tidal Road
The Centuria NZ Industrial Fund is pleased to announce the settlement of 78 Tidal Rd, Mangere, Auckland which was finalised on the 22nd of October for $48.9m. The property forms part of South Auckland’s latest high quality industrial and logistics hub and comprises a brand new, architecturally designed 15,000 sqm industrial facility of two warehouses with adjoining offices on a 4.98ha site.
A trans-Tasman ambition fulfilled
Mark Jennings | Newsroom An Australian property company founded by Kiwis aims to become truly Australasian following its local acquisition, Mark Jennings reports. (Content partnership) Fresh out of Auckland University, 21 year old Jason Huljich headed to Australia and got a job with another expat Kiwi trying to sort out problem properties in Sydney – properties that had fallen into disrepair or had lost tenants.
