• Rare 32ha estate acquired c.70% below replacement cost
• Australia's largest single-asset unlisted industrial fund
• Diversified by tenant profile, income, and unit sizes
• Expands Centuria's industrial platform to over $6 billion

Centuria Capital Group (ASX: CNI) has secured the Port Adelaide Distribution Centre for $216 million, at a c.70% discount to its replacement cost, which will underpin Australia's largest single-asset industrial fund to date, known as Centuria Port Adelaide Industrial Fund (CPAIF or 'Fund'). The 32-hectare industrial estate is located within the tightly held northwest industrial precinct where current vacancy is 1.5% (national average of 2.8%). It provides a 3.4-year WALE and 93% occupancy, enabling an opportunity for near-term rental revisions. The asset spans thirteen buildings, nine titles and is leased to seventeen high-quality national and international tenants including Visy Logistics, agricultural product supplier Ameropa Australia, Toll Transport and Spendless Shoes. It benefits from industrial units ranging 1,700sqm - 21,000sqm warehouses. The size of the estate enables future optionality including subdivision, repositioning or redeveloping opportunities. South Australia's macroeconomic tailwinds further support Centuria's investment rationale, underpinned by strong forecast local population growth and 17% of the State's expenditure allocated to significant infrastructure projects over the next four years. Several high-profile infrastructure projects could potentially influence occupier demand, including the $368 billion AUKUS defence project within the Osborne Naval Precinct, the Port Adelaide (Gillman) Renewal Project, and Henderson Defence Precinct.

Centuria Port Adelaide Industrial Fund will provide an initial five-year term and is expected to be offered to retail, wholesale and institutional investors from September 2025, with a forecast distribution of 7.50% p.a. for FY26 and 8.50% p.a. in FY27, paid monthly.

Centuria anticipates significant investor interest due to the decreasing interest rate environment and expects further attractive investment opportunities for both domestic and international capital over the coming year, with improving conditions within the transactional market.