Investor Presentaiton
dexus
Transactions
Dexus⁹
Dexus acquisitions
1 Bligh Street, Sydney NSW1
Capital Square Tower 1, Perth WA2
Jandakot Airport, Perth WA3
1-21 McPhee Drive, Berrinba QLD4
Purchase price 10 Interest
$m
Settlement
Dexus divestments
Sale price 10 Interest
$m
Settlement
$37.5
33%
$475.3
49%
8-Jul-21
22-Jul-21
60 Miller Street, North Sydney NSW
436-484 Victoria Road, Gladesville NSW
$275.0
100%
3-Aug-21
$55.0
100%
9-Aug-21
$1,300.0
100% 1-Nov-21 & 1-Apr-22
$69.3
100%
7-Dec-21
Grosvenor Place, 225 George Street, Sydney NSW
Truganina VIC & Lakes Business Park South, Botany NSW³
$693.8
37.5%
2-Dec-21
$269.4
100% 4-Nov-21 & 2-Dec-21
116-130 Gilmore Road, Berrinba QLD
$37.5
100%
28 Jones Road, Brooklyn VIC
$46.0
100%
Lot 2, 884-928 Mamre Road, Kemps Creek NSW5
$62.7
50%
23-Feb-22
20-Apr-22
Oct-22
201 Miller Street, North Sydney NSW
$76.2
50%
18-Feb-22
Jandakot Airport, Peth WA³
Jandakot Airport, Peth WA³
$432.9
33.3%
19-Nov-21
$432.9
33.3%
1-Apr-22
3 Spring, 58 Pitt and 60 Pitt Street, Sydney NSW
$177.0
50%
Aug-18-Aug-22
113-153 Aldington Road, Kemps Creek NSW
$125.5
100%
Development land, West Melbourne VIC
All other acquisitions under $30m
$33.2
50.1%
$102.5
n/a
Apr-23
May-25
Jul-21-Aug-22
12 Creek Street, Brisbane QLD
309-321 Kent Street, Sydney NSW
171 Edward Street, Brisbane QLD
383-395 Kent Street, Sydney NSW
$210.0
50%
31-Mar-22
$401.3
50%
29-Apr-22
$82.2
100%
28-Jun-22
$385.0
100%
29-Jul-22
140 & 150 George Street, Parramatta NSW
$77.3
50%
29-Jul-22
All other divestments under $30m
$13.5
n/a
Jul-21 Jun-22
4. The purchase price reflects both the stabilised Stage 1 warehouse and the development completion price of the Stage 2 land
acquired via a fund-through arrangement with practical completion expected March 2023.
5.
The purchase price reflects the development completion price. The property will be acquired via a fund-through arrangement with
development payments to commence late 2022 and practical completion expected in May 2023.
6.
Settlement subject to exercise of put and call option.
7.
Acquisition conditional on successful rezoning of land
8.
9.
Dexus settled the first tranche of the industrial assets in October 2020 and December 2020. The put and call options were exercised
for tranche 2 in September 2021, with the Laverton assets settling in November 2021 and Botany settling in December 2021.
Excludes Dexus's share of transactions in its co-investments in pooled funds.
1.
Reflecting the DXS share of the acquisition price for the 33.33% interest in 1 Bligh Street (of which Mercatus will hold a 90% share and
Dexus a 10% share).
2.
3.
Dexus paid $339m for its 49% equity stake in the trust owning the property valued at $970m, a $157m loan receivable and $450m of
senior secured debt.
On 1 November 2021, Dexus Holdings Pty Limited acquired 100% of Jandakot City Holdings Pty Ltd (JCH) and 49% of Jandakot Airport
Holdings (JAH) through the newly established Jandakot City Holdings Trust (JCHT) and Jandakot Airport Holdings Trust (JAHT). On 19
November 2021, shortly after initial settlement, Dexus Industria REIT (DXI) acquired a 33.3% interest in JCHT and 68% interest in JAHT.
On 1 April 2022, Dexus Projects Pty Limited settled on the remaining 51% interest of JAH through the establishment of Jandakot Airport
Domestic Trust (JADT), with Cbus acquiring a 33.3% interest in each of JCH and JAH by acquiring a 33.3% interest in JCHT and 65.3%
interest in JADT. The joint venture which owns 100% of Jandakot Airport, Perth, is held in the following proportions: Dexus 33.4%; DXI
33.3% and Cbus Super 33.3%. The existing structure includes senior asset-level debt of $405 million, reflecting a combined equity
commitment of $895 million excluding acquisition costs.
10. Excludes transaction costs.
60
Dexus 2022 Annual Results Presentation
17 August 2022View entire presentation