Core Property has reviewed the Centuria Logan Super Centre Fund, the latest offering by Centuria Property Funds No.2 Limited, a wholly owned subsidiary of Centuria Capital Limited (ASX: CNI), an ASX-listed property manager with $20.5 billion of assets under management.
The Fund invests in the Logan Super Centre, an established Large Format Retail Centre, in the City of Logan, approximately 25km southeast of the Brisbane CBD. Anchored by Freedom, Fantastic Furniture, Anaconda and Spotlight, the centre is well located on the main highway and is directly adjacent to the only IKEA store in QLD that is south of Brisbane.
The RE is targeting distributions of 8.0% p.a. (which are 100% tax deferred) in FY25 and FY26 with the potential for capital upside through targeted rental increases over time.
The Fund is seeking to raise $71.1M through the issue of 71.1M units at $1.00 per unit. The Offer is available to both retail and wholesale investors with a minimum subscription of $50,000. the Fund will be open for applications on 10th March 2025 and closing 28th March 2025.
Core Property has rated the Fund as RECOMMENDED.