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DEXUS $635 million Acquisition of the Waterfront Place And Eagle Street Pier In Brisbane

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DEXUS Property Group and DEXUS Wholesale Property Fund have reached a conditional agreement to jointly acquire Waterfront Place and Eagle Street Pier in Brisbane for $635 million.

DEXUS and DWPF have jointly agreed to each acquire a 50% interest in Waterfront Place at 1 Eagle Street, Brisbane (pictured above, centre) comprising a 59,448 square metre Premium grade office tower, and Eagle Street Pier, at 45 Eagle Street, Brisbane comprising a 6,258 square metre prime riverfront retail precinct.

The acquisition price of $635 million is $9,664 per square metre for the complex and a capitalisation rate of 6.9%.

Darren Steinberg, DEXUS CEO said: “This acquisition is an excellent long term core investment for both
DEXUS and DWPF, and Eagle Street Pier offers one of the best future development sites in the Brisbane
CBD.

ALSO SEE:

DEXUS Wholesale Property Fund Buys Brisbane CBD Tower

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Article originally posted at: https://https://theurbandeveloper.com/articles/dexus-acquires-waterfront-place-eagle-street-pier-brisbane