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DEXUS — Capital/Financing Update 2012
Apr 3, 2012
64807_rns_2012-04-03_b16134c5-6b16-4ada-ba1a-64cd1fd92547.pdf
Capital/Financing Update
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4 April 2012
DEXUS Property Group (ASX: DXS) United States portfolio update
DEXUS provides the following response to recent market speculation regarding the potential sale of a portion of the Group’s United States portfolio.
DEXUS’s current strategy is to progressively concentrate the US industrial portfolio in preferred west coast markets, by selling properties located outside of those markets (the central portfolio).
In the six months to December 2011, following the Group taking responsibility for leasing management of the central portfolio, occupancy of the central portfolio increased by 12.8% to 86.8%. As a result of this leasing success, DEXUS appointed an agent earlier this year to seek expressions of interest to acquire, as a single portfolio, the properties located outside of our core markets.
DEXUS has recently entered into exclusive negotiations with a buyer for the sale of these properties. These negotiations are conditional upon satisfactory buyer’s due diligence and DEXUS Board approval.
DEXUS will keep the ASX and investors updated on any progress in accordance with its continuous disclosure obligations.
For further information contact:
Media Relations
Emma Parry
Investor Relations
T: (02) 9017 1133 David Brewin T: (02) 9017 1256 M: 0421 000 329 M: 0411 162 457 E: [email protected] E: [email protected]
About DEXUS
DEXUS is one of Australia’s leading property groups specialising in world-class office, industrial and retail properties with total assets under management of $14bn. In Australia, DEXUS is the market leader in office and industrial and, on behalf of third party clients, a leading manager and developer of shopping centres. DEXUS is committed to being a market leader in Corporate Responsibility and Sustainability. www.dexus.com
DEXUS Funds Management Ltd ABN 24 060 920 783, AFSL 238163, as Responsible Entity for DEXUS Property Group (ASX: DXS)
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