EQS-Adhoc: Dexus Finance Pty Limited: Dexus sells two office properties

EQS-Interim: Dexus Finance Pty Limited / Key word(s): Real Estate
Dexus Finance Pty Limited: Dexus sells two office properties

28-November-2024 / 00:07 CET/CEST
Disclosure of inside information acc. According to Article 17 MAR of Regulation (EU) No 596/2014 communicated by EQS News, a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Dexus (ASX:DXS)

ASX version

28 November 2024

Dexus sells two office properties totaling $443.2 million in revenue

Dexus today announced that it has unconditionally exchanged contracts for the sale of two office properties for a combined sales price of $443.2 million.⁽¹⁾Dexus’ ownership interest represents $336.3 million. The combined sales price is broadly in line with the last stated carrying values and reflects a 0.8% weighted average discount to June 30, 2024 valuations. Features include:

100-130 Harris Street, Pyrmont Sold for 229.3 million dollars¹Based on book value as of June 30, 2024. The property is a Grade A boutique heritage office building located in Pyrmont’s Sydney CBD end market, with 83% occupancy by area and a WALE of 4.3 years(2). The deal is expected to close in early 2025.
145 Ann Street, Brisbane Sold for 213.9 million dollars¹ by Dexus Office Partnership, in which Dexus holds a 50% private ownership interest, reflecting a 1.7% discount to the June 30, 2024 carrying value. The property is a grade A office building located on the northern periphery of the Brisbane CBD, with 84% occupancy by area and a WALE of 3.2 years.². The deal is expected to close in December 2024.

Sales proceeds will reduce Dexus’ pro forma review hardware⁽³⁾ increased by approximately 1.5 percentage points and contributed to Dexus’ liquidation of approximately $2 billion allocated from FY25-27.

Authorized by Brett Cameron, General Counsel and Company Secretary of Dexus Funds Management Limited.

For more information please contact:

Investors
Rowena Causley
Listed Head of Investor Relations
+61 2 9017 1390
+61 416 122 383
(email protected)

Media
Luke O’Donnell
Senior Manager, Media and Communications
+61 2 9017 1216
+61 412 023 111
(email protected)

(1) Reflects net sales price at 100% ownership level and does not include transaction costs.

(2) WALE by occupancy and revenue by region as of October 31, 2024.

(3) Adjusted for cash and debt in investments accounted for using the equity method, excluding Dexus’ share of co-investments in pooled funds.

The End of Insider Information

Issuer’s information and explanation regarding 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 fund management business. We directly and indirectly own $14.8 billion in office, industrial, retail, healthcare, infrastructure and alternatives. We manage additional investment of $39.7 billion in our fund management business, which provides third-party capital with access to quality sector-specific and diversified real asset products. Funds in this business have a strong track record of delivering performance and leveraging Dexus’ capabilities. The platform’s $16.1 billion real estate development pipeline offers the opportunity to both grow portfolios and enhance future returns. We believe that the strength and quality of our relationships will always be at the center of our success and are deeply connected to our purpose. Unlock potential, create tomorrow. Our sustainability approach focuses on priority areas where we believe we can make a significant impact: Customer Well-being, Climate Action and Developing Communities. Dexus is backed by more than 37,000 investors from 23 countries. With four decades of expertise in real estate and infrastructure investment, fund management, asset management and development, we have a proven track record of managing capital and risk and delivering returns to investors. www.dexus.com

Dexus Funds Management Limited ABN 24 060 920 783, AFSL 238163 as Responsible Entity for Dexus (ASX: DXS)
(Dexus Property Trust ARSN 648 526 470 and Dexus Operations Trust ARSN 110 521 223)
Level 30, 50 Bridge Street, Sydney NSW 2000

28-Nov-2024 CET/CEST EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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