DEXUS extends Sydney exposure
DEXUS Property Group has extended its exposure to the Sydney office market, announcing this month that it had exchanged contracts to acquire interests in a portfolio of three Sydney office properties, including the purchase of one property jointly with DEXUS Wholesale Property Fund.
The companies said the properties to be acquired included a 25 per cent interest in 225 George Street; a 50 per cent interest in 2 and 4 Dawn Fraser Avenue, Sydney Olympic Park; and a 50/50 joint purchase of 39 Martin Place, in Sydney, with the DEXUS Wholesale Property Fund.
The announcement said the total consideration for the Sydney portfolio was $503.7 million.
It said the Sydney portfolio had been acquired off-market from the Direct Property Investment Fund - a wholesale office fund, managed by the property division of Colonial First State Global Asset Management.
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