DGAP-Ad-hoc: Dexus Finance Pty Limited / Key word(s): Real Estate Dexus (ASX: DXS) ASX release 23 February 2022 Sale of 12 Creek Street, Brisbane Dexus announces that it has conditionally exchanged contracts to sell 12 Creek Street, Brisbane, which it owns a 50% interest, with Dexus Wholesale Property Fund (DWPF) owning the remaining 50% interest. The sale will realise net proceeds of $391 million[1], which will be used to repay debt. 12 Creek Street is a 32-level, 38,746 square metre, A-grade office building, located in Brisbane's "Golden Triangle". The asset includes The Annex which comprises a new boutique office space with a rooftop terrace which was completed in 2021. Key customers include BDO Services, Moray & Agnew and AFSA. Settlement of the sale is expected in March 2022. Dexus Chief Investment Officer, Ross Du Vernet said: "This divestment enables us to recycle capital into our high returning development pipeline, with our Waterfront Brisbane development expected to commence shortly given leasing momentum. We are excited about the opportunity to focus our leasing, asset management and development efforts on this new development project." Authorised by Brett Cameron, General Counsel and Company Secretary of Dexus Funds Management Limited For further information please contact:
[1] Reflects net sale price (Dexus 50%, DWPF 50%) and excludes transaction costs. Information and Explanation of the Issuer to this News: About Dexus Dexus (ASX: DXS) is one of Australia's leading fully integrated real estate groups, managing a high-quality Australian property portfolio valued at $45.3 billion. We believe that the strength and quality of our relationships will always be central to our success and are deeply committed to working with our customers to provide spaces that engage and inspire. We invest only in Australia, and directly own $18.3 billion of office, industrial and healthcare properties, and investments. We manage a further $27.0 billion of office, retail, industrial and healthcare properties for third party clients. The group's $17.8 billion development pipeline provides the opportunity to grow both portfolios and enhance future returns. Sustainability is integrated across our business, and our sustainability approach is the lens we use to manage emerging ESG risks and opportunities for all our stakeholders. Dexus is a Top 50 entity by market capitalisation listed on the Australian Securities Exchange and is supported by more than 30,000 investors from 23 countries. With over 35 years of expertise in property investment, funds management, asset management and development, we have a proven track record in capital and risk management and delivering superior risk-adjusted returns for investors. www.dexus.com Dexus Funds Management Ltd ABN 24 060 920 783, AFSL 238163, as Responsible Entity for Dexus (ASX: DXS) 22-Feb-2022 CET/CEST The DGAP 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 |
| WKN: | A2RZHG |
| Listed: | Regulated Unofficial Market in Frankfurt |
| EQS News ID: | 1286021 |
| End of Announcement | DGAP News Service |
1286021 22-Feb-2022 CET/CEST
