Australia's Dexus sells three properties for $500 mln, surpassing FY27 divestment target
Australia's Dexus sells three properties for $500 mln, surpassing FY27 divestment target July 27 (Reuters) - Dexus has agreed to sell three office properties in Sydney and Brisbane for a combined gross sale price of A$715 million ($500.43 million), the Australian property group said on Monday.
Here are some details:
The transaction helps Dexus exceed its target of about A$2 billion in divestments by the end of fiscal 2027, a goal it set in early 2025 as it sought to sell assets in a faltering commercial property market.
The assets were sold at a combined gross price in line with their independent valuations as of June 30.
Dexus expects the settlement to happen in October, subject to conditions including FIRB approval.
($1 = 1.4288 Australian dollars)
(Reporting by Jasmeen Ara Shaikh in Bengaluru; Editing by Mrigank Dhaniwala)
((JasmeenAraIslam.Shaikh@thomsonreuters.com;))
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