Settlement of MDAP acquisition of interest in 1 Bligh Street Sydney
8 July 2021
Settlement of MDAP acquisition of interest in 1 Bligh Street, Sydney
Dexus today announced that the Mercatus Dexus Australia Partnership (MDAP), a joint venture with Mercatus Co-operative Limited (Mercatus) has settled on the acquisition of a 33.33% interest in 1 Bligh Street, Sydney for $375 million1.
Mercatus holds a 90% share in MDAP, with Dexus holding the remaining 10%. Dexus is the investment manager of the JV and will continue to be the property manager.
Dexus’s interest will be funded from existing debt facilities.
Details relating to the transaction were previously announced to the Australian Securities Exchange on 22 March 2021.
Authorised by Brett Cameron, General Counsel and Company Secretary of Dexus Funds Management Limited
1 Excluding acquisition costs, other costs and purchase price adjustments.