IDENTIFYING VALUE-ADD OPPORTUNITIES

Institutional quality assets with temporary flaws

We seek to identify well located, institutional quality properties that suffer from temporary or correctable flaws in their tenancy, physical attributes, capital structures, market position and/or management.

By exploiting the pricing and operating inefficiencies inherent in assets of this nature and employing an intensive asset management overlay to correct the identified flaws, we can reposition such assets for subsequent sale to institutional investors at attractive pricing.
We explore real estate investments in a variety of sectors, locations and business climates. This broad investment mandate allows us to source and execute unique and complex transactions, including direct equity investments, debt investments secured by real estate, privately placed real estate securities, joint ventures and real-estate operating companies.
We believe that our ability to source, evaluate and execute complex transactions within a short time frame is one of our competitive advantages. We focus on finding solutions to complex situations involving under-performing and/or improperly capitalised assets in an effort to make investments at attractive valuations and to create incremental value in the underlying asset.
We regularly monitor real estate markets to identify and develop the most promising investment themes based on asset class, geography or targeted groups of sellers. We believe this allows us to react quickly to potential opportunities and to develop relationships with key partners.
Our properties are generally in the $20 million to $70 million range, with exceptions made for outstanding assets and opportunities in a broader price range. Assets in this range sit above the scope of most private investors to fund on their own, and below the investment threshold levels of the large institutional and retail property funds. This niche has less competition as it is less crowded, presenting an excellent market in which to originate high quality investment opportunities.

MANAGEMENT AND OVERSIGHT

We have a small dedicated team with both investment analysis and asset management experience.

We also leverage off the expertise of the Centennial Property Group principals who have significant property and business experience. We seek to partner with real estate operators who have specific knowledge and insight into local real estate markets or asset classes.

These partners not only provide us with hands-on operating knowledge and expertise, but are also a source of proprietary deal flow.

OUR PORTFOLIO

Our current portfolio is testament to the effectiveness of our core investment strategy. Each of our properties has evolved from a carefully researched campaign to secure counter-cyclical buying opportunities with high quality tenants and stable long term leases.

We currently own and manage 11 individual properties with a combined value of c. $300 million on behalf of our co-investors. We have completed transactions with a combined value of $106 million and have successfully delivered our investors an average IRR of c.30% on principal transactions.

Our portfolio spans a diverse array of property sectors, many of which have emerged through:

  • Australian Real Estate Investment Trusts (A-REITs) deleveraging.
  • Unlisted funds and private vehicles selling high quality properties at significant discounts.
  • Distressed property or property work-out situations.
  • Asset mispricing due to absence of competitive tension or a perceived decline in market fundamentals.

OUR TEAM – YOUR CO-INVESTORS

At Centennial Property Group, our team pride ourselves not only on our ability to undertake meticulous research, analysis and management of projects but also in the collaborative, consultative approach we adopt with our co-investors. The Directors and Principals of Centennial Property Group have extensive experience in the property and funds management industries.

Together they offer diversified yet complimentary skills with strong industry backgrounds. We have collectively or individually invested in real estate globally and bring to Centennial Property Group a depth of market and industry knowledge which provides a sound and conservative basis for asset selection and management.

TEAM1_Grey

Lyle
Hammerschlag

Director

Lyle Hammerschlag is a qualified Chartered Accountant with a Masters of Property Development and a Bachelor of Commerce. Lyle built his career practising with Deloitte and has been extensively involved in property analysis and transaction for many years at Stockland and Charter Hall and in unlisted property trusts.

email: lyleh@centennial.com.au
direct number: +612 8277 6628

TEAM2_B

JONATHAN
WOLF

Director

Jonathan Wolf has many years of experience across the principal investment and transaction advisory sectors. Previously, Jonathan worked at Ernst & Young in its transaction advisory services team. He holds a Bachelor of Commerce from the University of NSW and is a member of the Institute of Chartered Accountants Australia.

email: jwolf@centennial.com.au
direct number: +612 8277 6607

TEAM3_Grey

KIM
KITCHEN

Director Marketing
& Distribution

Kim has been in the financial services industry for over two decades. During that time Kim has worked as a sterling money market dealer in the UK and since 1995 has been involved in funds management in Australia. Kim was head of distribution at Abacus Property Group from its inception in 1996 and was active in taking the Group from inception to over $2.1 billion of assets under management by 2012.

email: kkitchen@centennial.com.au
direct number: +612 8277 6603

OUR INVESTOR PROFILE

WE SEEK TO PARTNER WITH LIKE-MINDED INDIVIDUALS AND ORGANISATIONS WHO SEEK EXPOSURE TO PROPERTY INVESTMENT AS PART OF THEIR WEALTH MANAGEMENT STRATEGY AND INVESTMENT PORTFOLIO.

Our co-investors recognise that some property assets offer significant risk-adjusted returns however they require deep property knowledge and experience as well as hands on property management expertise in order to acquire and manage these assets.

Centennial Property Group offers boutique property and investment management expertise, giving our co-investors the ability to include these assets within their portfolio.

We transact with a select group of institutions, financial advisers and sophisticated high net worth investors. Our principals co-invest in every opportunity and sit side-by-side with our equity partners. We are always accessible and welcome contact with investors.