Centuria Capital Group (ASX:CNI) is a specialist investment manager with over $20 billion of assets under management and offers a range of investment opportunities including listed and unlisted real estate funds.
They have acquired the Margaret River Shopping Centre for $15 million which will act as the foundation for a new single-asset, closed-ended wholesale property fund with a forecast starting distribution yield of 5.75% pa and a minimum investment of $250,000.
The Fund will launch in early February with settlement expected in late March 2023.
Following the announcement, shares of Centuria Capital Group (ASX:CNI) were up 0.28%.