NATIONAL property fund manager and developer, Centennial has hired ex-Charter Hall industrial and logistics fund manager, Richard Mason to lead the group’s growth into the mid-space industrial sector.
Mason’s background in valuation, transactions and investment management spans over 30 years in the Australian industrial and logistics market, and has seen him work across a wide range of property sectors and disciplines. That includes 17-plus years at Charter Hall’s flagship Prime Industrial Fund where he was responsible for and directly involved in over $10 billion of new acquisitions, more than $2 billion of divestments and over $5 billion of completed developments, together with equity raisings in excess of $7 billion.
“Centennial was undergoing a targeted growth phase across three states in preparation for more opportunistic property deals expected to eventuate as the market undergoes further corrections before stabilising,” Centennial CEO Adrian Taylor said. The group has recently leased new, larger office premises in Brisbane and Melbourne and has expanded into other asset classes such as retail. Its Sydney office has also bolstered its wealth and asset management teams to enable a greater focus on other property classes that could include distressed office assets.
Centennial currently has more than $2.1 billion worth of property assets across Australia with a further $900 million of projects in the pipeline.
