ASX-listed investment manager Centuria Capital has secured a new A$500m (€300m) institutional investment mandate on behalf of a US private investment firm to invest in industrial real estate across Australia.
The mandate, known as Last Mile Logistics Partnership (LMLP), will focus on acquiring assets within supply-constrained infill industrial markets across the country.
Centuria has seeded the partnership with a three-asset portfolio in Melbourne, valued at A$76m.
Jason Huljich, Centuria’s Joint CEO, told IPE Real Assets that the investor was new to Centuria but had previously invested in Australian real estate.
Huljich said the term of the partnership was for more than five years.
“Centuria has significant experience in securing high-quality industrial real estate across Australia,” he said, adding that Centuria’s institutional capital investments now totalled A$2.2bn across the logistics, healthcare, daily needs retail and office property sectors.”
He said LMLP was the second last-mile logistics vehicle that Centuria set up in the last 12 months. Last December, it established the Centuria Prime Logistics Partnership with Morgan Stanley Real Estate Investing.
Centuria’s A$6bn industrial platform consists of 160 properties across Australia and New Zealand, which are highly concentrated in infill logistics markets.
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