Key Takeaways
- Centuria Capital Group has expanded its agriculture real estate platform to $820 million following the acquisition of a 43-hectare hydroponic glasshouse in Two Wells, South Australia.
- The $168 million off-market deal was secured through the Centuria Agriculture Fund (CAF) and increases the platform’s protected cropping footprint to over 160 hectares.
- The facility, operated by Perfection Fresh, is Australia’s largest hydroponic glasshouse and supplies major supermarkets, airlines, and food service providers.
- The asset is backed by a 17.4-year triple net lease, reducing operating overheads for CAF.
- CAF’s portfolio now totals $629 million across six assets, with 100% occupancy and a 16.2-year WALE.
Centuria Capital Group Acquires Major Protected Cropping Asset
Centuria Capital Group (ASX: CNI) has expanded its agriculture real estate platform to $820 million with the acquisition of a 43-hectare glasshouse facility in Two Wells, South Australia. Operated by Perfection Fresh, the asset is the largest hydroponic glasshouse in Australia and represents a significant milestone for Centuria’s expanding agricultural portfolio.
The $168 million off-market transaction was completed by the open-ended Centuria Agriculture Fund (CAF) and secured from Fresh Country Farms of Australia. With this acquisition, Centuria’s glasshouse holdings grow by 25%, comprising more than 150 hectares of glasshouse assets and over 160 hectares of protected cropping nationwide.
Leadership Highlights Strategic Growth in Agriculture Real Estate
Jason Huljich, Joint CEO of Centuria, said the acquisition aligns with the company’s long-term strategy. “We have grown Centuria’s Agriculture AUM and capabilities as part of a deliberate strategy to seed alternative real estate asset classes that appeal to our investors, are well supported by attractive themes, and provide a long runway for further growth.”
- 100% occupancy
- A 16.2-year weighted average lease expiry (WALE)
