19 Oct 2021

September 2021 quarterly update - Platform expansion in line with strategy

19 October 2021

September 2021 quarter update – Platform expansion in line with strategy

Dexus today announced an update for the quarter ended 30 September 2021 which saw the continuation of COVID-19 lockdowns in Sydney and Melbourne and acceleration of the COVID-19 vaccine roll out, with restrictions easing recently.

Darren Steinberg, Dexus CEO said: “It’s been an active start to the financial year, in which we have continued growth in our funds management business. We finalised the acquisition of APN Property Group and helped to deliver significant initiatives for both listed REITs through acquisitions and equity raisings.

“Despite the disruption caused by the lockdowns in Sydney and Melbourne, leasing activity has continued across our portfolio and occupancy remains above 95%. Continued evidence of a flight to quality within our leasing results highlights the demand for quality workspace in well-located CBD assets.”

Highlights

  • Following the approval by APN securityholders, Dexus implemented the acquisition of all the APN stapled securities on 13 August 2021 and rebranded to Dexus on 5 October 2021
  • Undertook equity raisings of circa $405 million for Dexus Industria REIT (Industria) and Dexus Convenience Retail REIT (DXC), facilitating quality acquisitions with Dexus investing alongside Industria to acquire a $1.5 billion1 industrial portfolio and achieve transformational growth for Industria
  • Completed 95 leasing transactions2 across 129,043 square metres in the Dexus office portfolio and Dexus industrial portfolio, and maintained high rent collections of 97.9% for the September quarter

Download the PDF to read the full announcement.

 

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