Centuria Acquires Arrows Fund Management, Adds $444M Agriculture Real Estate Portfolio Including Australia's Only Commercial Organic Aquaculture-Glasshouse

Centuria secured management rights to the Arrow Primary Infrastructure Fund (APIF) in December 2025 through the acquisition of Arrows Fund Management Limited, expanding its agriculture real estate platform with 22 properties valued at $444 million.

Acquisition Expands Centuria's Agriculture Platform

The acquisition of Arrows Fund Management represents an expansion by Centuria into agricultural real estate. APIF is described as a pure-play unlisted agriculture real estate fund comprising 22 properties.

Cobbitty Asset: A New Concept in Australian Agriculture

Among the fund's holdings is a property at 219 Cobbitty Road, Cobbitty NSW — described by Centuria as a new concept and not done anywhere else in Australia at commercial scale. The facility, known as ECO Fresh Organics, integrates a 60,000-litre freshwater Barramundi aquaculture system with a 2.4-hectare organic glasshouse for tomato production, forming what the company describes as a closed-loop agricultural operation.

The asset is part of a University of Sydney Research and Development facility. APIF controls a 40-year headlease and retains 100 percent ownership of ECO Fresh Organics. The operation is certified organic by Australian Certified Organic (ACO) and currently produces approximately 40 tonnes of Barramundi and 600 tonnes of organic snacking and truss tomatoes annually.

Closed-Loop System Drives Sustainable Production

The facility's design centers on nutrient cycling between its aquaculture and horticulture components. Wastewater from the Barramundi tanks is processed through an advanced bioreactor system, producing a nutrient-rich solution containing macronutrients — nitrogen, phosphorus, and potassium — as well as secondary nutrients including calcium and magnesium. This processed water is then used to support tomato production in the glasshouse.

Green waste from tomato plants is composted onsite to create growing material, reducing external inputs and waste output. The operation employs cutting-edge automation and environmental controls throughout.

Andrew Tout, Centuria Head of Agriculture, said the Cobbitty asset stands apart from other operations nationally. "Our Cobbitty asset is a new concept and not done anywhere else in Australia, at this commercial scale. What makes this facility truly exceptional is its integration of internationally advanced technology with sustainable practices. Its management, development and unique operations is a credit to the Arrow team who began investment in the asset back in 2019," Tout said.

"All organic crop 'green' waste returns to feed the bioreactors and the entire system operates as a closed-loop. This demonstrates that intensive agriculture can be both highly productive and environmentally sustainable," he added.

Aquaculture Sustainability

Tout also addressed the sustainability profile of the facility's freshwater aquaculture component. "Freshwater aquaculture can, when well managed, offer sustainability advantages over wild freshwater fishing by enabling controlled production, improved feed efficiency, reduced pressure on wild stocks, and full traceability from hatchery to plate," he said. "Aquaculture systems allow greater management of fish size, yield and quality, and can reduce exposure to overfishing and some environmental pressures."