Dexus, CPPIB divest office
Dexus and the Canada Pension Plan Investment Board are selling a Brisbane office acquired in equal share following the 2014 buy-out of the Commonwealth Property Office Fund.
On 2700 square metres, 145 Ann Street, Brisbane, is collecting $200 million from Aware Super, according to sources.
Book value in June, 2024, was $217.6m which assumed a 6.52 per cent yield and 7.5pc capitalisation rate.
At the time, the 27 level, 27,555 sqm office with 103 car parks was 84pc occupied with a 3.5 year weighted average lease expiry by income. GHD Services is the anchor (story continues below).
JLL’s Seb Turnbull is believed to have brokered the off-market sale.
Last month we reported Dexus was teaming with Marquette Property to repurpose the 27 storey Mineral House at 41 George St, Brisbane, as a 1200-bed student accommodation asset.
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