M&A Advisory
K&L Gates
Full Credential Description
K&L Gates acted for ASX-listed Centuria Capital Group in its acquisition of a AU$22 million industrial facility located in Royal Park, South Australia, for its wholesale unlisted fund, Centuria Select Opportunities Fund (CSOF). The facility, which is fully leased to two blue-chip tenants, Daikin Australia and Allied Express Transport, boasts a weighted average lease expiry (WALE) of 6.3 years and 100% occupancy. Centuria's strategy for CSOF, launched in late 2023, focuses on acquiring quality assets that offer value-add propositions for wholesale investors. The in-house team at Centuria has been successful in sourcing properties that allow for upward rent reversions, thereby increasing underlying values. This acquisition aligns with Centuria’s strengths in executing leasing, repositioning, and development projects aimed at enhancing property performance. The K&L Gates legal team, led by partners Samuel Brown and Naomi Philp, played a crucial role in facilitating this transaction. Brown expressed satisfaction in supporting Centuria's growth trajectory and highlighted the strategic nature of their collaboration. The acquisition of the Royal Park industrial facility from Centennial Property Group marks another significant step in Centuria's ongoing investment strategy.
Measurable Results
Successfully completed $22M transaction