Centuria and partners buy four Australian office buildings from Hines

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Centuria Capital Group and partners have acquired four Australian office buildings from Hines, the US-based asset manager, for AUD645m (€396m).

Hines put the buildings up for sale following a decision in May to wind up Hines Global REIT, which owned more than 30 assets globally.

Centuria said the group and its listed Centuria Metropolitan REIT will join co-investor, the Lederer Group, to buy the buildings in three capital cities from a subsidiary of Hines Global REIT.

Centuria said its listed vehicle had agreed to acquire three of the assets and a 25% interest in the fourth for a total of AUD501m.

The Lederer Group, which has jointly invested with Centuria in office buildings previously, will acquire a 75% interest in a Sydney building, located in Chatswood, for around AUD125m via a co-ownership agreement.

Two of the other assets are in Brisbane and one in Melbourne.

Centuria said it would undertake an AUD100m equity raising and issue corporate bonds to raise a further AUD75m to fund its share of the transaction.

Centuria Metropolitan REIT would undertake its own capital raising for AUD275m to partially fund the purchase.

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  • Centuria 818 Bourke

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  • QN-2546

    Asset class: Real Estate Equity Fund (non listed).
    Asset region: Europe.
    Size: Total CHF 600m, approx. CHF 100-300m per fund investment.
    Closing date: 2019-06-28.

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