Dexus Finance Pty Limited / Key word(s): Acquisition/Real Estate
Dexus (ASX: DXS)
1 November 2021
Initial settlement of Jandakot Airport, Perth
Dexus announces it has completed the initial settlement of the acquisition of Jandakot Airport, Perth, acquiring 100% of Jandakot City Holdings Pty Ltd (JCH) and 49% of the company which owns the ground lease, Jandakot Airport Holdings (JAH) for circa $825 million.
Dexus anticipates that Dexus Industria REIT (ADI) will settle on its 33.3% interest of each of JCH and JAH in mid-November 2021. Dexus intends to bring additional third party equity capital partners into the Jandakot structure prior to settlement of the remaining 51% of JAH, which would result in Dexus's overall balance sheet interest in each of JCH and JAH reflecting an equal minority interest. Following the securing of equity commitments from additional third party capital partners and receipt of required regulatory approvals, settlement of the 51% remainder of JAH for $70 million is expected to occur in March 2022.
This transaction was originally announced to the Australian Securities Exchange on 23 September 2021.
Authorised by Brett Cameron, General Counsel and Company Secretary of Dexus Funds Management Limited
For further information please contact:
 Before acquisition costs. Comprised of $757 million for JCH plus an initial $68 million for JAH.
Information and Explanation of the Issuer to this News:
Dexus (ASX: DXS) is one of Australia's leading fully integrated real estate groups, managing a high-quality Australian property portfolio valued at $42.5 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 $17.5 billion of office, industrial and healthcare properties, and investments. We manage a further $25.0 billion of office, retail, industrial and healthcare properties for third party clients. The group's $15.4 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)
01-Nov-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Dexus Finance Pty Limited
264 George Street
+61 2 9017 1100
+61 2 9017 1101
Regulated Unofficial Market in Frankfurt
EQS News ID:
End of Announcement
DGAP News Service