Australian real estate investment trust Centuria Industrial REIT revealed that it has bought 100 percent of two industrial sites in Archerfield, Queensland and Hazelmere, Western Australia for a combined value of $54.4 million.
The acquisitions include 149 Kerry Road, Archerfield, QLD for $22.6 million and 155 Lakes Road and 103 Stirling Crescent, Hazelmere, Western Australian for $17.5 million.
In addition, Centuria Industrial announced that it aims to secure about $51 million to partially finance the deal.
The company will offer new shares at $2.77 each unit, which was a 3.1 percent discount to the last close and implied a 6.6 percent for the financial year 2019 distribution yield.