March 2019 quarter portfolio update

30 April 2019

March 2019 quarter portfolio update

Dexus today announced its property portfolio operational update for the quarter ended 31 March 2019.

Darren Steinberg, Dexus Chief Executive Officer said: “This quarter, we have achieved milestones across leasing, development, funds management, transactions and capital management.

“We also announced the sale out of a non-core market and increased investment into a core market with the acquisition of the MLC Centre in Sydney, consistent with our commitment to drive investment performance for Dexus investors and our capital partners.”

Highlights

• Leased 41,874 square metres¹ of office space and 19,225 square metres of office development space across 93 transactions with office portfolio occupancy increasing to 97.5%
• Leased 46,193 square metres¹ of industrial space across 19 transactions, with industrial portfolio occupancy increasing to 96.9%
• Announced the acquisition of the remaining 50% interest in the MLC Centre, Sydney jointly with Dexus Wholesale Property Fund (DWPF), which subsequently settled on 1 April 2019
• Conditionally exchanged contracts to sell Dexus’s 100% interest in 11 Talavera Road, Macquarie Park for $231.2 million² and in April 2019, exchanged contracts to sell Finlay Crisp Centre⁵, Canberra for $62 million²
• Post quarter end, Healthcare Wholesale Property Fund (HWPF) received a major equity commitment of $100 million which is subject to FIRB approval
• Dexus was again recognised by Workplace Gender Equality Agency as an Employer of Choice for Gender Equality