Centuria Industrial Acquires four infill assets
- Centuria Industrial REIT (CIP) purchases four high-quality, freehold industrial sites for a total of $129.4 million, all of which are 100 per cent weighted to eastern coast markets
- CIP says it can capitalise on positive rental reversions from present under-renting by using the weighted average lease expiration (WALE) length
- The WALE across the portfolio is 3.5 years, with an initial four per cent yield and a gross lettable area of over 46,000
- Jesse Curtis, CIP Fund Manager and Centuria’s Head of Industrial says the acquisitions lend themselves to last-mile logistics and distribution
- Shares in CIP are up 1.09 per cent to $3.72
