office block city scape
Image – Canva.
  • $190 million listed note institutional bookbuild completed
  • Finalisation of offer depends on applications, closing 14 April 2021
  • A replacement prospectus to be released shortly

Every Centuria batter has been sending balls over the fence, from Centuria Industrial REIT (ASX: CIP) to Centuria Office REIT (ASX: COF), now, Centuria Capital Group (ASX: CNI) has hit yet another six: $90 million over the original notes offer.

The commercial real estate industry is exceptionally hot at the moment, with a number of other companies also completing oversubscribed and successful raises, a tautology yes, but a pleasing result for commercial real estate given last year’s woes.

Industrial property has been helped by a ‘tailwind’ according to Centuria’s Industrial REIT, confidence across Centuria’s portfolio and arms clear: earlier this week, CNI went into a trading halt before launching a $100 million listed notes offer and ended up raising $90 million over the intended amount.

The company stated at the time it intended to raise circa $100 million under the notes offer, with each note holding a face value of $100.

Offers were made available to a limited range of people including some institutional investors, eligible clients of brokers, and registered holders of CNI securities.

The results of that raise have now almost doubled to $190 million of notes “in a firm basis to Institutional Investors and Syndicate Brokers subject to expiry of the statutory exposure period for the Prospectus.”

Centuria also notes that “The final size of the Offer will depend upon the volume of Applications received and accepted under the Securityholder Offer, which is expected to open on Tuesday, 30 March 2021 and expected to close at 5:00pm (AEST) on Wednesday, 14 April 2021.”

Following the success of the offer, a replacement prospectus will be issued, with the notes expected to be issued on 20 April this year.



You May Also Like

Westpac sees rates hitting 4.1 per cent and property prices falling further

Westpac said, “2023 will be another challenging year, particularly as the RBA continues to ratchet interest rates higher.”

Home loan hacks: four way to save money on your mortgage

With interest rates expected to keep rising, Compare Club has tips to ease the mortgage pain.

CoreLogic’s guide to navigating a looming ‘fixed-rate cliff’

Many borrowers will feel mortgage pain when they next refinance

How much does it cost to move house?

From cleaning fees to moving services, the costs of moving houses can add up fast

Top Articles

PropertyGuru Asia Property Awards (Australia) returns for its 7th edition, including several brand new award ...

This year's awards include several brand new categories, with entries closing 2 August 2024.

Housing crisis survival guide: How to buy your first Australian property

Three property experts give the low down on how to nab a home in this tough housing market.

Strata properties as investments: All you need to know about investing in a Perth unit

As the cost of renting approaches the cost of a mortgage, more people are investing in units to escape the rental trap.