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Centennial poised for private wealth growth after launching first open ended fund ahead of naming new capital partner
Centennial Centennial launches Metro Industrial & Logistics Fund (CENMIF) – $28.1m raised in record time
The fund offers investors exposure to the national metro industrial and logistics sub-sector through a multi-asset portfolio
The flagship open ended fund is seeded by two new logistics assets acquired in Sydney and Adelaide for $48.25m and is forecast to grow by circa $150m per annum
Executive board member and former Joint MD Paul Ford appointed CEO to steer
Centennial’s growth with founding partner and Executive Director, Jonathan Wolf moving to Executive Chair
A new capital partner will be announced shortly as Centennial enters a new phase of accelerated growth to capitalise on an attractive real estate market
SYDNEY, NSW: Centennial has launched its first open ended industrial & logistics property fund and is on the cusp of announcing a new capital partnership to drive the property investment manager and developer’s accelerated growth strategy.
The flagship Centennial Metro Industrial & Logistics Fund (CENMIF) launched in late 2025 has surpassed its seed capital raising target of $28m. The Fund is targeting an internal rate of return (IRR) above 13% per cent, with an annual distribution yield target of circa +5% per cent.
Seeding the Fund are two newly acquired assets in Sydney and Adelaide purchased for a combined $48.25m.
In Sydney, Centennial has purchased a 100 per cent freehold stake in a 17,950 sqm site at 6 Ash Road in the industrial heartland of Prestons for $29.75m.
A 7,585 sq m warehouse facility occupies the site and is fully leased to PACT Group subsidiary, Jalco. With only 43 per cent site coverage and further development opportunities from 3,000 sqm of surplus land, Centennial is confident of strong rental growth from the core infill site 10km west of the Moorebank Intermodal Terminal. The sale was brokered by Michael Wall, John Swanson, Alex Jaafar and Nick Crothers of Savills.
In Adelaide’s established and land constrained northern industrial suburb of Salisbury, 22km north of the CBD, is the Fund’s second asset acquired for $18.5m and brokered by Max Frolich and Ryan Mills of Knight Frank.
Covering seven titles, the 14,795 sqm site on Turin Place and Bremen Drive, it is fully leased to Australian Whole Foods, which occupies 7,905 sqm of net lettable across six buildings. The prominent site also features over 1,500 sqm of surplus land with hardstand for additional open storage opportunities.
Centennial has also identified several potential assets to add to the fund with sites in Victoria and Queensland on its radar.
The new fund signals a major turning point and further diversification for Centennial, now in its fifteenth year of operations, which had previously offered only closed ended and syndicated funds under its private wealth platform.
The investment criteria for the new Fund will follow a similar strategy to Centennial’s private investment models operating mainly in established inner-ring, supply-constrained areas in Sydney, Melbourne and Brisbane with assets in Adelaide and Perth capped at 25 per cent of the fund and up to 20 per cent in major regional centres.
Centennial’s primary investment focus will remain on targeting undercapitalised assets in land constrained locations through off-market deals and identifying distressed sellers or assets that are typically land rich and needing specialised management.
In step with the company’s expanded investment platform and imminent capital partnership announcement, Centennial has made several changes to its team’s internal reporting structure to support its growth objectives.
Centennial’s industrial and logistics kingpin, Paul Ford, has been appointed Chief Executive Officer, transitioning from his former role as Joint Managing Director. In this role, Paul will lead the overall strategy and direction of the business, while retaining responsibility for capital and growth. Adrian Taylor has stepped down from his role as Joint Managing Director, with the Board thanking him for his contribution to the business over a number of years.
Founder and Executive Director, Jonathan Wolf steps into the Executive Chair role after inaugural Chair, Ivan Hammerschlag who held the position since Centennial’s formation, announced his retirement and in his words, “leaves the business in good shape”.
Mr Ford, who initially teamed up with Centennial in 2018 under a joint venture arrangement said the company’s evolution from a private investment house servicing high net worth investors, to a major real estate investment powerhouse, particularly in the mid-space, inner-ring industrial and logistics and retail sectors, is the result of a pragmatic and disciplined approach and staying ‘within your lane’. “Whilst we have broadened our institutional exposure, our high net worth and private wealth clients remain and will continue to remain an absolute focus.
“We were highly active in 2025 having completed 32 property transactions totalling close to $830m and expect to build on that momentum over the coming year with a new capital partner onboard.”
As for his new role as CEO, Mr Ford said: “The change in structure to a single Chief Executive Officer role is an important step in providing greater clarity and accountability for the business as we embark on new growth opportunities and integrating our operations with our soon-to-be announced capital partner.
“After almost two years of research, preparation, collaboration along with the support of a key capital partner we are delighted to be launching this product and being able to offer greater product diversification to our private wealth investors and supporters.”
“Looking to the future I am very excited about what the new structure will bring to Centennial, our investors, stakeholders and our highly skilled team of 50 across four states.”
GALLERY
