Dexus Finance Pty Limited Announces Sale of Three Assets Totaling $383.2 Million

Dexus Finance Pty Limited has confirmed the unconditional sale of three assets, resulting in a combined total of $383.2 million. This move is part of their ongoing asset recycling initiatives.

The assets include a 50% stake in 5 Martin Place, Sydney, valued at $296.2 million, with Dexus's 25% share being $148.1 million. This prime office building has an occupancy rate of 97% and a WALE of 2.9 years. Settlement is set for June 28, 2024.

Another sale involves 130 George Street in Parramatta, a B-grade office building, sold for $69.1 million with a WALE of 1.2 years and 73% occupancy. The final asset, 18 Motorway Circuit in Ormeau, is an industrial property fully occupied with a WALE of 7.7 years, sold for $17.9 million and settled on June 17, 2024.

Proceeds will be used to repay debt, with further updates anticipated as Dexus continues to execute its strategy.