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Dexus Announces Sydney & Melbourne Acquisitions And Equity Raising

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Dexus Funds Management Limited as responsible entity of Dexus has announced that it has entered into agreements to acquire two Sydney office buildings. It is also in exclusive due diligence to acquire a core industrial property in Melbourne. The total consideration under the acquisition agreements together with the offer for the industrial property is $739.3 million.

The acquisitions include a 25% interest in the MLC Centre, 19 Martin Place, Sydney for $361.3 million and a 100% interest in 100 Harris Street, Pyrmont for $327.5 million.

In relation to the MLC Centre acquisition, Dexus Wholesale Property Fund (“DWPF”) is also acquiring a 25% interest alongside Dexus, consistent with DWPF’s strategy of owning high quality assets in core markets.

The key benefits of the Acquisitions for Dexus include:

  • Enhances Dexus’s exposure to the Sydney office market, Australia’s largest office market
    • Utilising debt facilities to be entered into by Dexus of up to $288.6 million
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    Article originally posted at: https://theurbandeveloper.com/articles/dexus-announces-sydney-melbourne-acquisitions-equity-raising