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Centro Properties Group (CNP) is a public company engaged in the operations of the Centro Property Trust and other entities of the company which are engaged in property management, property investment, funds management and property development. CNP was listed on the Australian Stock Exchange on the 14th of August, 1997. Its average annual revenue reaches approximately AUD$795 million. Its headquarters is located in Glen Waverley, Australia and to date; around 700 people are employed in the company. Centro Properties Group operates mainly in two business segments: services businesses and property ownership business. Centro Properties is in the "Financials" sector, in the "Real Estate" industry group and in the "Real Estate Investment Trusts (REITs)" industry.

The services business segment of Centro Properties Group is engaged in leasing, property management, funds management and development management activities for all the portfolios the company manages. Included in the management of the company are listed and unlisted funds where CNP provides a wide range of quality opportunities for retail property investment. The Australia and New Zealand portfolio that Centro manages includes a diversified retail assets portfolio such as neighborhood, sub-regional, regional and large shopping centres in both metropolitan and non-metropolitan markets. In its US portfolio, CNP manages neighbourhood, community, big box retail shopping centres and malls that are situated in the suburban areas in Australia.

CNP's property ownership business segment is engaged in managing the retail retailers in most mainland states in Australia that include Victoria, Queensland, New South Wales, South Australia, Western Australia, and Australian Capital Territory. It also operates retail centres in New Zealand and the US.

Centro Properties Group (CNP) Company History

Centro Properties Group was known as the Jennings Properties Limited when it was established in February 1985. It was listed on the Australian Stock Exchange in August 1985. Its name was altered to Centro Properties Group in 1989. Mildura Plaza shopping centre located in Victoria became a part of the company in April 1998. $90.25 million was the cost of Roselan’s shopping center located in Sydney when the company bought its 50% interest in July 1, 1998.

Three properties were taken amounting to $118 million in 1998. These were Springwood Mall, Southport Park in Southern Queensland and Tweed Mall in Northern New South Wales. The shopping centre in Mornington was opened in August 2000.

The Victoria’s Box Hill Central shopping centre became a part of the Centro Properties Group in 2000. The company was selected to manage Maddington Shopping Centre situated in Perth in 1997 and that caused the creation of its property management business. Its management business was enhanced when Gordon Centre in New South Wales was managed by CNP. The result of the acquisition of Prime Retail Property Trust management rights and 3 property syndicates was the establishment of 4 new retail properties.

The CT Retail Investment Trust which was previously known as MCS 1999 Retail and TripleCee Retail Investment Trust was managed by Centro in 2000. Brisbane's Taigum and Lutwyche City shopping centres were bought for $88.8 million in 2001. Taigum Central accumulated $71.1 million when it was improved. Buranda Plaza in Brisbane, Queensland; Taree City in New South Wales; and Argyle Mall in Goulburn, New South Wales were the three properties that Centro acquired 50% interest in June 2001.

Over $50 million worth of agreement were signed in August 2001 in gaining 50% interest of Victoria Gardens Shopping Centre. The Warnick Grove in Perth, Australia was bought for $75 million. The Halls Head Central, Greenfield Centre found in Western Australia was established. This centre was opened in November 2001 and this cost $20.3 million. The development of White Horse City Shopping Centre in 2002 cost $57 million. It is located in the suburb of Box Hill, Eastern Melbourne. Other acquisitions include: In 2002: Bay Central Shopping Center, in Hervey Bay, Queensland for $41.0 million and the David Jones CBD Complex, Perth in Western Australia for $90.5 million, Bankstown Square, from Government Superannuation Office of Victoria (50%) and General Property Trust (50%) for a price of A$353.6 million including all acquisition costs; In 2003: Galleria, Colonnades shopping center and Toombul shopping centers; in 2004: A merger with Prime Retail Group; in 2005: Kramont Real Estate Trust, a US based real estate investment trust for US$1.2 billion; in 2006: Heritage Property Investment Trust; in 2007: Warnbro Fair Shopping Centre in Western Australia for $57 million. In August 2007, the company created a listed property trust with A$10.1 billion of retail assets when Centro Funds Management entered into a merger agreement with Centro Retail Trust (CER).