Dexus sells two office properties
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EQS-Ad-hoc: Dexus Finance Pty Limited / Key word(s): Real Estate Dexus (ASX: DXS) ASX release 28 November 2024 Dexus sells two office properties for combined proceeds of $443.2 million Dexus announced today that it has unconditionally exchanged contracts to sell two office properties for a combined sale price of $443.2 million[1], of which Dexus’s ownership interest represents $336.3 million. The combined sale price is broadly in line with last stated book values, reflecting a 0.8% weighted average discount to the 30 June 2024 valuations. The properties are:
Sale proceeds would reduce Dexus’s pro forma look-through gearing[3] by circa 1.5 percentage points and contribute toward Dexus’s circa $2 billion of divestments earmarked across FY25-FY27.
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[1] Reflects net sale price and excludes transaction costs, at 100% ownership. [2] Occupancy by area and WALE by income are as at 31 October 2024. [3] Adjusted for cash and debt in equity accounted investments, excluding Dexus's share of co-investments in pooled funds. End of Inside Information Information and Explanation of the Issuer to this announcement: About Dexus Dexus (ASX: DXS) is a leading Australasian fully integrated real asset group, managing a high-quality Australasian real estate and infrastructure portfolio valued at $54.5 billion. The Dexus platform includes the Dexus investment portfolio and the funds management business. We directly and indirectly own $14.8 billion of office, industrial, retail, healthcare, infrastructure and alternatives. We manage a further $39.7 billion of investments in our funds management business which provides third party capital with exposure to quality sector specific and diversified real asset products. The funds within this business have a strong track record of delivering performance and benefit from Dexus’s capabilities. The platform’s $16.1 billion real estate development pipeline provides the opportunity to grow both portfolios and enhance future returns. We believe that the strength and quality of our relationships will always be central to our success and are deeply connected to our purpose Unlock potential, create tomorrow. Our sustainability approach is focused on the priority areas where we believe we can make significant impact: Customer Prosperity, Climate Action and Enhancing Communities. Dexus is supported by more than 37,000 investors from 23 countries. With four decades of expertise in real estate and infrastructure investment, funds management, asset management and development, we have a proven track record in capital and risk management and delivering returns for investors. www.dexus.com Dexus Funds Management Limited ABN 24 060 920 783, AFSL 238163, as Responsible Entity for Dexus (ASX: DXS)
28-Nov-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Dexus Finance Pty Limited |
| 264 George Street | |
| 2193 Sydney | |
| Australia | |
| Phone: | +61 2 9017 1100 |
| Fax: | +61 2 9017 1101 |
| E-mail: | ir@dexus.com |
| Internet: | www.dexus.com |
| ISIN: | XS1961891220, XS2487637527 |
| WKN: | A2RZHG |
| Listed: | Regulated Unofficial Market in Frankfurt |
| EQS News ID: | 2039921 |
| End of Announcement | EQS News Service |
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2039921 28-Nov-2024 CET/CEST
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