Centuria Capital’s open-ended Australia agriculture property fund has added a 21-hectare glasshouse facility in Victoria to its glasshouse portfolio of more than 100 hectares.
The latest acquisition at Katunga in Victoria‘s agricultural region of Goulburn Valley, increases Centuria Agriculture Fund’s (CAF) portfolio assets under management to around A$450m (€276m). CAF now owns five of Australia’s large-scale tomato glasshouse infrastructure facilities in its portfolio.
The off-market sale-and-leaseback transaction was secured on a 20-year triple-net lease with Katunga Fresh.
Jason Huljich, Centuria Joint CEO, said: “The Katunga facility is a high-quality precision farming asset, which aligns perfectly with our investment strategies and is backed by a strong tenant covenant. We aim to continue expanding CAF into one of Australia’s largest, sector-specific agriculture funds.”
Andrew Tout, Centuria head of agriculture, said: “Katunga Fresh has been operating since 2004 and was one of the nation’s first adopters of glasshouse production. It continues to be an innovator within the precision farming market.”
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