Centuria Capital launches $454M Sydney office fund
- Centuria Capital launches a $454 million Sydney CBD office fund.
- The real estate manager raised capital through institutional placement and entitlement offers.
- The initiative aims to expand high-conviction real estate assets under management.
Centuria Capital Group (ASX:CNI) has launched a new $454 million office fund to acquire a premium commercial property in the Sydney CBD.
The move follows an institutional placement and entitlement offer to support growth across its core real estate platform.
Without an executive quote included in the initial announcement, the group proceeded directly with the operational details of the asset allocation.
The equity raise was priced at $2.00 per share, giving existing shareholders entitlement to participate in the retail component.
"Looking ahead, we forecast increased revenues in FY27 as we grow into our larger capital base. We believe the full impact of increased earnings arising from the increased capital base will be witnessed in the second half of FY27 and particularly in FY28," the company said in a statement.
Centuria stated that the fund creation aligns with its broader strategy to capitalise on commercial property sector opportunities.
Following the announcement, the Centuria Capital Group share price was down at $1.11.
The company currently manages tens of billions of dollars in real estate assets across Australia and New Zealand.
Centuria continues to expand its alternative real estate holdings, including decentralised data infrastructure and credit investment options.
