Centuria and Lederer Group partner for acquisition
Centuria Capital Group has announced the Lederer Group will partner with Centuria Metropolitan REIT (CMA) to acquire the remaining 50 per cent interest in a New South Wales property at 201 Pacific Highway, St Leonards.
CMA acquired its initial 50 per cent interest in December last year, and the transaction for the remainder is scheduled to settle by 10 May, 2018.
The deal would bring Centuria’s unlisted wholesale assets under management (AUM) to $407 million of a total $4.6 billion in AUM.
Centuria’s head of real estate and funds management, Jason Huljich, said the business was happy to strengthen its relationship with the Lederer Group after first partnering in 2014.
“This support, along with that of our strong existing investor base, puts us in a great position to do what we do best – leverage our solid real estate credentials to isolate pockets of value and generate positive returns for our investors,” he said.
Chairman of the Lederer Group, Paul Lederer, said their continued investment was a testament to the firm’s confidence in Centuria’s property fund management platform.
AUTHOR
Anastasia Santoreneos
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