1 April 2019

DWPF equity offer attracts new investors

Dexus Wholesale Property Fund (“DWPF” or “the Fund”) today announced that it has raised circa $340 million of equity, attracting six new investors to the Fund.

DWPF is undertaking an equity raise of up to $400 million to fund the acquisition of a further 25% interest in the MLC Centre, Sydney. The equity offer has raised circa $340 million, with active enquiry on the remaining $60 million.

DWPF Fund Manager, Michael Sheffield said: “We are pleased to welcome six new investors to DWPF, in line with our strategy of diversifying the Fund’s unitholder base.

“DWPF has a strong track record of delivering on its investment objectives through selective acquisitions and divestments, while achieving strong performance and maintaining the Fund’s preferred gearing range.”

Dexus and DWPF also announced today the settlement of the acquisition of the remaining 50% interest in the MLC Centre, Sydney for $800 million1. Details relating to the transaction were previously announced by Dexus to the Australian Securities Exchange (ASX) on 12 March 2019.

1 Reflects the acquisition price for remaining 50% interest (Dexus 25%, DWPF 25%) and excludes acquisition costs.