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 identified properties that allow for upward rent reversions, enhancing the potential to increase underlying values. This acquisition aligns with Centuria’s strengths in executing leasing, repositioning, and development projects aimed at improving 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 through this strategic acquisition, while Philp highlighted the firm's commitment to assisting Centuria in achieving successful outcomes in their investment endeavors. The Royal Park industrial facility was acquired from Centennial Property Group, marking another significant addition to CSOF's .
Measurable Results
Successfully completed $22M transaction