Augusta Capital is buying KCL Property for $15 million - $10 million in cash and the rest in shares.
The purchase will lift Augusta's syndicated property funds under management from $350 million to $1.2 billion, involving about 170 properties.
The shares, issued at 80 cents each and accounting for just over 7 percent of Augusta, will be issued to two KCL shareholders, Bryce Barnett and Phil Hinton, who will also join Augusta's management team.
Augusta is also buying Investment Property Titles from the real estate firm Bayleys for $444,000 and Augusta is also forming a strategic alliance with Bayleys that will see the third KCL shareholder, Cheryl Macaulay, join Bayleys.