Retail property investment syndicate Centro Properties Group splashed out $315 million on shopping centres in the last financial year - despite the nation's limited supply.
The group paid $83.8 million for its latest acquisitions.
Lakes Village Shopping Centre in South Australia and Brooks Gardens Shopping Centre in Western Australia were bought for $52.5 million and $32.3 million respectively.
The deals take the group to $25.5 billion in fund under management and a market capitalisation of $7.3 billion.
Finding quality retail properties to acquire was challenging, Centro chief executive officer Andrew Scott said.
"The acquisitions, which have been undertaken on behalf of Centro's managed funds, reinforce Centro's ability to source appropriate shopping centres to grow its cemented funds under management," Scott said.
Centro chief operating officer Graham Terry said strong fund inflows demonstrated the substantial investor appetite for retail property investments.
Brooks Gardens will be added to the Centro Retail Trust portfolio, and Lakes Village into an unlisted Centro managed fund.
