Dexus Wholesale Property Fund
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Institutional investors
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Explore this fund
Dexus Wholesale Property Fund (DWPF) is a diversified Australian property fund with a purpose to improve futures through real estate investment - by delivering superior risk-adjusted returns and outperformance while investing for the long-term in an environmentally sustainable and socially responsible way.
Providing instant access to the Australian property market, DWPF’s high quality portfolio is underpinned by predominantly prime assets that sit across the three core sectors of office, retail and industrial. It is one of the largest and most diversified Australian real estate pooled funds.
With a strong history of benchmark outperformance and institutional investor support for over 30 years, DWPF has a clear strategy:
- Invest in a diversified portfolio of predominantly prime-quality assets
- Exposure to development and core plus opportunities
- Strive for leadership in ESG.
DWPF has maintained its performance track record by adopting an active management approach and partnering with Dexus to unlock large-scale opportunities.
Horizon 3023, Ravenhall Vic
Gateway Tower, Sydney NSW
Fund highlights
Target return post fees
7% p.a. through the cycle**
5-star
GRESB rating, GRESB Real Estate 2024
A rating (stable)
from S&P Global Ratings***
Diversified
across sector, geography and tenant mix
Indooroopilly Shopping Centre, Qld
Case study
The multi-award-winning Quay Quarter Tower (QQT), a world-first vertical village
A showcase of development innovation, QQT puts sustainability and smart workplaces at the centre of design and customer experience. Net zero in operation and achieving a 6 Star Green Star Office As Built v3 rating, the building is a world-first adaptive reuse, whereby the core of the existing 1970’s building was retained and new floors added to the north, stitching the old and new together and doubling the floorplate size.
The ambitious design and sustainability strategy enabled the retention of 98% of the structure, reducing construction time by one year and saving $200 million. Doubling the building’s capacity necessitated innovative engineering solutions, such as retrofitting double decker lifts into a skyscraper – another world-first – providing lobbies on both ground and upper lobby levels. The tower has achieved more than 60 prestigious awards to date, including 2022 World Building of the Year at the World Architecture Festival in Lisbon, 2023 Best Office and Business Project by MIPIM Awards and 2023 Best Tall Building of the Year Oceania and Worldwide by CTBUH.
Featuring 89,000sqm of NLA over 49 floors, the tower was 95% leased prior to Practical Completion, with major commercial customers now in occupation including AMP, Deloitte, Dexus, Corrs Chambers Westgarth, EQT, JWS and IMC.
Who is this fund suited to?
Dexus Wholesale Property Fund (DWPF) accommodates institutional investors with a minimum application amount of $10 million.
DWPF opens to new equity from time to time and maintains a register of interest for investors wishing to enter the fund. To discuss registering your interest, please contact the team.
Prospective investors should refer to the Information Memorandum of the fund for further information, including about risks of which you should be aware.
Your real asset partner of choice
Spanning infrastructure and real estate, real asset investing offers a variety of benefits for your portfolio, including diversification benefits, reduced volatility compared with equities and enhanced risk-adjusted returns for income-oriented investment portfolios.
With over 40 years of experience in real asset investment, funds management, asset management and development, Dexus has a proud history of creating long-term value for investors. It is our deep local sector expertise and active management approach that sets us apart, allowing us to anticipate local market and sector needs and drive long-term performance at every stage of the investment lifecycle.
Looking for Dexus Wholesale Australian Property Fund (DWAPF)?
If you are a direct investor rather than an institutional investor, you can access information on the Dexus Wholesale Australian Property Fund (DWAPF) page or contact our Client Services team.
Disclaimers and important information
Jump to next sectionFOOTNOTES
* MSCI / Mercer Australia Core Wholesale Monthly Property Fund Index (post fee, net asset weighted) as at 31 March 2025. Past performance is not a reliable indicator of future performance.
**The target return is not a guarantee, forecast or prediction. There can be no assurance that the fund will meet its target return.
*** Rating re-affirmed in November 2024.
DISCLAIMERS AND IMPORTANT INFORMATION
All data as at 31 March 2025 unless otherwise stated.
All information contained on this website (“Information”) is subject to change without notice. While every care has been taken in the preparation of the Information, to the extent permitted by law, Dexus (ASX DXS), its related body corporates and each of their respective directors, officers and employees do not make any representation or warranty, express or implied, as to the accuracy, currency, reliability or completeness of any statement in it including, without limitation, any forecasts, and do not guarantee the repayment of capital, or the performance of or any particular rate of return for the Dexus fund referred to on this website. Past performance is not a reliable indicator of future performance.
The Information has been prepared for the purpose of providing general information only, without taking account of any particular investor’s objectives, financial situation or needs. Investors should, before making any investment decisions, consider the appropriateness of the Information, and seek professional advice, having regard to their objectives, financial situation and needs.
Dexus Wholesale Property Limited (ACN 006 036 442, AFSL No. 238166) (the “Responsible Entity”) is the responsible entity of Dexus Wholesale Property Fund (the “Fund”) and the issuer of stapled securities in the Fund. The Fund comprises three stapled head trusts and two registered schemes, Dexus Wholesale Property Trusts 1 & 2 (ARSN 090 499 013) and Dexus Wholesale Property Trust 3 (ARSN 601 440 377). The Responsible Entity is a wholly owned subsidiary of Dexus.
Prospective investors should refer to the Information Memorandum of the Fund for further information, including about risks of which you should be aware. The Information should not be considered to be comprehensive or to comprise all the information which a potential investor may require in order to determine whether to invest in the Fund.
The Information is not intended for distribution or use in any jurisdiction where it would be contrary to applicable laws, regulations or directives and does not constitute a recommendation, offer, solicitation or invitation to invest.
How can we help?
Connect with us to explore investment opportunities, find the right space for your best work, or learn more about what we do. Together, let’s create tomorrow.
Explore some of our assets
A selection of the assets can be found below. The complete asset portfolio is available on our asset page by filtering on DWPF properties.
View asset portfolio
Explore our latest DWPF video content
1. What is the Dexus Wholesale Property Fund (DWPF)?
DWPF is one of Australia’s largest and most diversified unlisted property funds, managed by Dexus. It invests in high-quality office, retail, and industrial assets across major metropolitan markets, aiming to deliver superior risk-adjusted returns and long-term sustainability.
2. Who can invest in DWPF?
The fund is available to institutional investors only. It is not open to retail investors.
3. What is the fund’s investment strategy?
DWPF focuses on:
A diversified portfolio of prime-quality assets.
Exposure to development and core-plus opportunities.
Leadership in ESG (Environmental, Social, and Governance) practices.
4. What sectors does DWPF invest in?
The portfolio spans three core sectors:
Office
Retail
Industrial
The Fund has the ability to invest in alternate sectors such as healthcare and residential.
5. What is the size of DWPF’s portfolio?
As of September 2025, DWPF manages approximately A$12.7 billion in assets across 42 properties, primarily located on Australia’s east coast.
6. What is the target return for DWPF?
The fund targets a post-fee return of approximately 7% per annum through the cycle.
7. How does DWPF perform on sustainability metrics?
DWPF has achieved:
Ranked Top 3 in peer group for Diversified Office/Retail in GRESB.
Average 4.9 Star NABERS Energy Rating achieved across its office portfolio.
Achieved net zero across Dexus managed assets since FY22
8. What is the fund’s credit rating?
DWPF holds an “A” rating from S&P Global Ratings, reflecting its strong asset quality and conservative capital management.
9. How can investors access DWPF information?
Institutional investors can contact Senior Investor Relations Manager for DWPF, Josie Taslim via email (josie.taslim@dexus.com) or via the official DWPF page: Dexus Wholesale Property Fund
10. What are the key risks associated with DWPF?
Risks may include:
Market volatility affecting property valuations.
Structural changes in office demand.
Interest rate fluctuations impacting borrowing costs
Investors should refer to the DWPF Information Memorandum for a more comprehensive list of potential risks and should conduct their own due diligence before considering an investment in DWPF.
11. What is the minimum investment amount for DWPF?
DWPF is available to institutional investors only with a minimum investment amount of $10 million. Contact Dexus Investor Relations for further details.
12. Does DWPF offer regular distributions?
Yes, DWPF typically provides quarterly income distributions to investors, subject to fund performance and cash flow.
13. What ESG initiatives does DWPF implement?
DWPF integrates ESG principles across its portfolio, including:
Achieving net zero across Dexus-managed assets.
Maintaining leading performance in GRESB.
Implementing energy efficiency and social impact programs.
14. What governance structure does DWPF follow?
DWPF is governed by a Responsible Entity, Dexus Wholesale Property Limited, ensuring adherence to regulatory and fiduciary obligations.