Centuria Capital鈥檚 open-ended Australia agriculture property fund has added a 21-hectare glasshouse facility in Victoria to its glasshouse portfolio of more than 100 hectares.
The latest acquisition at Katunga in Victoria鈥榮 agricultural region of Goulburn Valley, increases Centuria Agriculture Fund鈥檚 (CAF) portfolio assets under management to around A$450m (鈧�276m). CAF now owns five of Australia鈥檚 large-scale tomato glasshouse infrastructure facilities in its portfolio.
The off-market sale-and-leaseback transaction was secured on a 20-year triple-net lease with Katunga Fresh.
Jason Huljich, Centuria Joint CEO, said: 鈥淭he Katunga facility is a high-quality precision farming asset, which aligns perfectly with our investment strategies and is backed by a strong tenant covenant. We aim to continue expanding CAF into one of Australia鈥檚 largest, sector-specific agriculture funds.鈥�
Andrew Tout, Centuria head of agriculture, said: 鈥淜atunga Fresh has been operating since 2004 and was one of the nation鈥檚 first adopters of glasshouse production. It continues to be an innovator within the precision farming market.鈥�
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