Listed property trusts in the challenged office and discretionary retail sectors are trading at discounts not seen since the global financial crisis.
Industrial property is in the spotlight as final bids are being reviewed for the $3.5 billion Blackstone Australian warehouse portfolio and a number of parties are in the mix for the sought-after assets.
The country’s largest listed pure-play industrial trust has boosted its portfolio with a new asset valued at $26.2 million.
The country’s largest listed Australian-focused industrial fund,Centuria Industrial REIT,has forecast a lift in sale and leaseback activity as large manufacturers look to sell their real estate and use the cash for expansion.
Centuria Industrial has been one of the more acquisitive property groups throughout the pandemic and has now added to its deal base with the purchase of an industrial property portfolio for $171 million.
The rush for industrial property has led to Centuria Industrial REIT increasing its exposure in Queensland while LOGOS Property has entered into exclusive due diligence on Qube Holdings $2 billion Moorebank logistics park.
Centuria Industrial REIT (CIP) has expanded its portfolio with two more assets at a time when the warehouse and logistic sector is in high demand.
Industrial property,once the unloved sector of real estate,is now the most sought-after as online shopping surges.
Centuria Industrial REIT has emerged the victor in the purchase of Telstra's data centres for $417 million.
Vacancies have hit a record low in Melbourne's industrial south-east despite the coronavirus crisis.
Centuria Capital's joint chief executives,John McBain and Jason Huljich say the ability to make a quick decision and act on it are the secrets to success.