“The formation of this partnership demonstrates the resilience of CIP’s portfolio and the continued demand for high-quality industrial assets within urban infill markets in which CIP operates,” Curtis said.

“Establishment of this partnership, along with other recently completed divestments, demonstrates CIP’s ongoing commitment to prudent capital management and portfolio optimisation.”

CPLP properties have recently benefitted from value-add strategies and are underpinned by strong tenant covenants. CPLP will solely invest in industrial property, leveraging the sector’s strong tailwinds.

Centuria joint chief executive Jason Huljich said the partnership expands the existing relationship with MSREI, having established the pure-play healthcare real estate vehicle, Centuria Prime Partnership, in May 2022.

“Our access to diverse property sectors continues to present opportunities for us to increase the institutional capital that is seeking to partner with Centuria,” Huljich said.