Dexus sheds two more offices
Dexus has sold two more east coast offices for a total $443.2 million.
In the biggest deal – just – 100-130 Harris Street, in inner west Pyrmont (pictured top), is collecting $229.3m from Wentworth Capital and Assembly Funds Management, in a deal to settle early next year.
The A-grade boutique low rise building – a woolstore conversion – with 5026 square metres and 142 car parks is 83 per cent occupied, with a weighted average lease expiry of 4.3 years.
Dexus paid $327.5m in 2017.
Three years ago it reportedly sold 50pc to Goldman Sachs for c$180m.
Aware buys below market in Brisbane
Meanwhile – confirming a deal mooted three weeks ago – Dexus is banking $213.9m for 145 Ann Street, in Brisbane’s CBD.
Held in equal stake with the Dexus Office Partnership, which it manages but is backed by the Canada Pension Plan Investment Board, or CPP Investments, this asset rises 27 storeys with c28,000 sqm.
Occupancy is 84pc with a 3.2 year WALE.
Book value at June 30 was $217.6m (story continues below)
Aware Super is the buyer.
Settlement is scheduled next month.
More Dexus deals
Dexus has shed – or booked to sell – offices worth c$2 billion since the COVID pandemic.
The manager’s ownership interest in 100-130 Harris St and 145 Ann St totals $363.3m.
The blended sale prices reflect a 0.8pc weighted average discount to the June 30 book values.
Following settlement, Dexus’ pro forma gearing will reduce 1.5pc.
More to come.
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