Centuria abandons float plans: report

Centuria Capital Ltd has abandoned plans to float a listed property trust after failing to raise the $215 million it needed, The Australian Financial Review reports. 

According to the newspaper, the group managed almost two thirds of its target, with CIMB Capital Markets, Macquarie Capital and RBS Morgans leading the raising.

The fund would have been seeded with the $300 million Northpoint office and retail tower in North Sydney before expanding, but investors were wary of a lack of portfolio diversity, the AFR reports.