HDY advises Centuria on CMA's entitlement offer
11 June 2015
HDY has advised Centuria Property Funds Limited (as responsible entity of Centuria Metropolitan REIT No.1 and Centuria Metropolitan REIT No.2 (together, CMA)) on an underwritten accelerated non-renounceable entitlement offer to raise approximately $100 million.
CMA is an Australian real estate investment trust (REIT). The proceeds of the entitlement offer, together with debt and existing cash, will be used to fund the acquisition of four commercial office assets located in the metropolitan markets of Adelaide, Canberra and the Gold Coast. The total purchase price for the acquisitions is $129.3 million. Settlement of the acquisitions is expected to occur prior to 30 June 2015.
The HDY team was led by partner Nikki Bentley, along with partner Lucinda McCann, special counsel Matthew Farnsworth and lawyers Vinod Kumar and Ciara Gaffney.
HDY advised Centuria Property Funds Limited on the listing of CMA on the Australian Securities Exchange in December 2014.
Ms Bentley said, “We are delighted to have assisted the Centuria team with such a strategically important transaction for the Centuria Metropolitan REIT that was so well supported by the market."
The underwriter and bookrunner, UBS AG, Australia Branch was advised by Herbert Smith Freehills.
For further information contact:
Head of Communications
Henry Davis York
61 2 9947 6568
61 408 939 226