In October 2013, Dexus established a partnership with Canada Pension Plan Investment Board (CPPIB) to jointly acquire Commonwealth Property Office Fund (CPA), a $3.4 billion property fund comprising 21 prime grade office properties located in strategic Australian CBD markets.

CPPIB is a global long term investor with deep investment expertise in the real estate sector. A former investor in DWPF, CPPIB was familiar with Dexus’s integrated model of funds management which provides access to expertise across the Dexus platform including asset and property management, development, research and transactions.

Dexus utilised its transactional capability to successfully complete the off-market takeover of CPA in April 2014 and will utilise its expertise to drive performance in the portfolio.