Centuria Agriculture Fund buys Sundrop Farms asset for $70m

A Centurial Capital Group (ASX: CNI) managed fund has acquired one of South Australia’s largest glasshouse assets, Sundrop Farms, for $70 million from the Morrison & Co Growth Infrastructure Fund.

Acquired by the Centuria Agriculture Fund (CAF), the asset is a 246-hectare site in Port Augusta, SA, and provides four five-hectare glasshouses that run on renewable energy sources.

The deal takes Centuria’s total agriculture assets under management to $421 million, and is supported by a 20 year triple-net lease to Sundrop Farms.

Read More: https://www.businessnewsaustralia.com/articles/centuria-fund-secures-sustainable-south-australian-glasshouse-asset-for--70m.html