In this episode of the iPartners Grow Your Wealth podcast, Travis Miller sits down with Jason Huljich, Joint CEO of Centuria Capital Group, to explore the realities of building wealth through strategic real estate investment and long-term business growth. Over nearly three decades in the industry, Jason has helped grow Centuria into a diversified property and funds management business with more than $20 billion in assets under management, sharing lessons shaped by experience, adversity and disciplined decision-making.
Early Foundations and Moving to Australia: Jason reflects on growing up in Auckland and the influence of his entrepreneurial father, whose work ethic and commitment to building a business left a lasting impression. A move to Australia shortly after university, initially planned for just one year, became the beginning of a career that would span nearly three decades. Stepping outside his comfort zone and embracing new opportunities proved to be one of the most important decisions of his life.
The Accidental Birth of Centuria: What would eventually become Centuria started almost by accident. After helping lease and reposition a small shopping centre, an opportunity emerged when a prospective buyer failed to raise capital. Rather than letting the deal collapse, Jason and business partner John McBain took on the challenge themselves, raising $3 million from investors and launching their first fund in 1998. The experience highlighted that entrepreneurship often begins with persistence and a willingness to solve problems rather than waiting for ideal circumstances.
Building a Competitive Advantage Through Culture: One of the defining characteristics behind Centuria’s growth has been its focus on people. From a team of five to more than 430 employees, Jason explains that culture, careful hiring and long-term relationships have become key competitive advantages. Even today, senior leadership remains heavily involved in recruitment, ensuring new team members align with the company’s values. Maintaining strong relationships with tenants through in-house property services has also delivered better outcomes and enhanced portfolio performance.
Leadership Through the Global Financial Crisis: During the GFC, while competitors were cutting staff aggressively, Centuria adopted a different approach. Salaries were temporarily reduced, additional leave was offered and staff received options in the company instead of widespread redundancies. This strategy preserved talent and loyalty, allowing the business to emerge stronger once markets recovered. Looking back, Jason describes the darkest periods as often occurring just before conditions improve, reinforcing the importance of patience and conviction.
Scaling Through Diversification and Acquisitions: A major turning point came through listing the business and expanding beyond office assets. Strategic acquisitions transformed Centuria into a diversified platform spanning industrial, healthcare, agriculture, tourism and real estate credit. This evolution provided investors with broader opportunities while creating multiple avenues for growth. Jason explains that diversification across both sectors and capital sources has been fundamental in creating a sustainable business capable of performing across changing market cycles.
Innovation in Agriculture and Alternative Real Assets: One of the more fascinating developments has been Centuria’s move into large-scale glasshouse agriculture. These highly sophisticated facilities represent the future of food production, combining technology, sustainability and productivity. From desalination plants to solar-powered energy systems, these investments demonstrate how traditional property ownership continues to evolve and how innovation can unlock entirely new sectors for investors seeking long-term opportunities.
Lessons Learned Through Market Cycles: Having experienced the GFC, COVID and rising interest rate environments, Jason emphasises that difficult periods provide the greatest learning opportunities. High leverage before the GFC taught lasting lessons around risk management. Today, Centuria operates with significantly lower gearing and larger buffers, prioritising resilience over maximising short-term returns. The experience reinforced that wealth is preserved through prudent risk management rather than excessive leverage.
The Importance of Relationships and Mentors: Throughout his career, three influences stand above all others: his parents and long-time business partner John McBain. From work ethic and integrity to kindness and leadership, these relationships helped shape his approach to business. Equally important has been the power of networking. Jason believes many opportunities arise unexpectedly through trusted relationships, making professional networks and industry connections invaluable assets over time.
Where Opportunities Exist Today: Looking at the current environment, Jason sees significant opportunities in real estate credit and industrial property. As banks tighten lending standards, private credit has become increasingly attractive, delivering equity-like returns with debt-like risk profiles. Industrial property continues to benefit from structural trends driven by e-commerce and limited supply, particularly in infill locations close to major population centres. Despite negative headlines surrounding commercial property, strong occupancy rates and rental growth continue to support underlying fundamentals.
The Reality of Building Wealth: Throughout the conversation on the iPartners Grow Your Wealth podcast, Travis Miller and Jason Huljich return repeatedly to the idea that wealth creation is rarely glamorous. There are no shortcuts, and attempts to get rich quickly often end badly. Long-term wealth is built through discipline, patience and continuous learning. Every investment will not succeed, but adapting lessons from setbacks and managing risk carefully create the conditions for lasting success. As Jason observes, “It is a slow grind.” Those who focus on consistency rather than chasing fast money are the ones most likely to achieve meaningful wealth over time.
Advice for Entrepreneurs and Investors: For aspiring business owners, reputation, transparency and the quality of people around them matter enormously. Hiring talented individuals and treating investors honestly during both good times and bad are foundations that cannot be compromised. Investors should conduct thorough due diligence, particularly when assessing managers in growing sectors such as private credit. Track records across multiple cycles, strong ethics and proven experience are qualities that stand the test of time. Ultimately, sustainable success is built not through chasing quick wins, but through discipline, relationships and a relentless commitment to doing the right thing. Through conversations like these, the iPartners Grow Your Wealth podcast continues to provide investors with insights from leaders who have navigated both prosperity and adversity while creating enduring wealth.
