Centuria Capital Group has launched a new fund that invests solely in a $224 million building in Victoria.
The Centuria Government Income Property Fund (CGIPF) will become the new owner of 1 McNab Avenue, a 14-storey building located in Footscray. CGIPF will raise $133 million to fund the transaction.
State Trustees, City West Water and the Victorian government’s Treasury and Finance Department are some of the current tenants.
In 2014, the Victorian government partnered with the now-defunct construction company Grocon, which went into voluntary administration in November 2020, to revitalise 1 McNab Avenue, Footscray, as a government work precinct.
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Read the full article at: https://www.financialstandard.com.au/news/centuria-launches-unlisted-fund-179778614