Centuria Capital has bought a NZ$178.3m (€101m) industrial facility, through its New Zealand real estate fund manager Augusta Capital, in a 20-year sale and leaseback deal.
The Visy Glass property, located on an 8.6-hectare site, outside Auckland will seed a new unlisted fund. The facility is New Zealand’s only glass bottle and jar manufacturing plant.
The asset is the third purchase by Augusta Capital this year, taking its assets under management to NZ$2.1bn.
Jason Huljich, joint chief executive of Centuria, said since the acquisition of Augusta Capital in July, Centuria had successfully increased asset under management by A$900m.
Huljich said the group was undertaking due diligence on a further A$300m worth of assets.
To part fund the New Zealand acquisition, Centuria yesterday issued a fully underwritten capital raising for A$100m. The proceeds would be used to pay down debt, provide for working capital and “funding flexibility” to pursue further acquisitions.
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