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Dexus Finance Pty Limited: Initial settlement of Jandakot Airport, Perth

·3-min read

Dexus Finance Pty Limited / Key word(s): Acquisition/Real Estate
Dexus Finance Pty Limited: Initial settlement of Jandakot Airport, Perth

01-Nov-2021 / 05:57 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Dexus (ASX: DXS)

ASX release

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[1].

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:

Investors
Rowena Causley
Senior Manager, Investor Relations
+61 2 9017 1390
+61 416 122 383
rowena.causley@dexus.com

Media
Louise Murray
Senior Manager, Corporate Communications
+61 2 9017 1446
+61 403 260 754
louise.murray@dexus.com

 

[1] 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:

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 $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)
Level 25, 264 George Street, Sydney NSW 2000

01-Nov-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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:

1245016


 

End of Announcement

DGAP News Service

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