FINWIRES · TerminalLIVE
FINWIRES

Dexus Sells 480 Queen Street Brisbane in AU$700 Million Deal

By

Dexus (ASX:DXS) said it has exchanged contracts to sell 480 Queen Street, Brisbane, for a gross sale price of AU$700 million, with the company and the Dexus Wholesale Property Fund (DWPF) each holding a 50% ownership interest in the property, according to a Thursday Australian bourse filing.

The net sale price of AU$657.3 million aligns with the June independent valuation and reflects an around 4% discount to the December 2025 book value, per the filing.

The transaction remains subject to approval from the Foreign Investment Review Board, with settlement scheduled for Dec. 1, the filing said.

The company will receive around AU$259 million upfront from its stake, with an additional AU$70 million deferred until June 2028, accruing interest at a 6% coupon.

The sale is expected to reduce the company's pro forma look-through gearing by 1 percentage point while maintaining both the company's and DWPF's exposure to Brisbane's premium office market through Waterfront, the filing added.

Related Articles

Asia

Jinhui Signs Sale-and-Leaseback Deals for Two Bulk Carriers

Jinhui (HKG:0137) has entered into sale-and-leaseback arrangements for two bulk carriers under construction, according to a Tuesday Hong Kong bourse filing.The company will sell each vessel to a unit of ICBC Financial Leasing for up to $18 million and lease them back under separate five-year bareboat charter agreements.The vessels, each with a deadweight of about 64,500 metric tonnes, are expected to be delivered in February and March 2028.

HKG:0137
Asia

BOE Technology Controlling Shareholder to Boost Ownership

BOE Technology (SHE:000725) said its controlling shareholder, Beijing Electronics, plans to purchase company shares worth 500 million yuan to 1 billion yuan over the next six months, according to a Wednesday filing with the Shenzhen bourse.

SHE:000725
Asia

CapitaLand India Trust Spends 30% of Private Placement Proceeds

CapitaLand India Trust (SGX:CY6U) has used SG$45.6 million, representing 30.4% of the gross proceeds of the private placement conducted earlier this year, according to a Wednesday filing to the Singapore stock exchange.Of the SG$100 million earmarked to part fund the ongoing development and construction as part of its acquisition of Building 1 of Ebisu in Bangalore, India, the manager used SG$37.3 million.The company also used SG$5.7 million of the SG$47.4 million allotted to part fund the ongoing development and construction of and acquisition of an office project in Bangalore from Maia Estates Offices.It also used SG$2.6 million to pay all the fees and expenses tied to the private placement.The company's shares were up nearly 2% in recent trade.

SGX:CY6U