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Dexus Sells Three Office Properties for AU$715 Million, Exceeding Divestment Target

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Dexus (ASX:DXS) exchanged contracts for the sale of three office properties for a combined gross sale price of AU$715 million, exceeding its disclosed target of about AU$2 billion of divestments by the end of fiscal year 2027, according to a Monday Australian bourse filing.

The company said two properties were sold from Sydney and one from Brisbane, in line with the combined independent valuations as at June 30 and reflecting about a 4% discount to combined book values at Dec. 31, 2025.

Settlement is expected to occur in October, subject to certain conditions precedent including Foreign Investment Review Board (FIRB) approval, with about 67% of the sale price to be received at settlement and the remaining 33% deferred for 30 months subject to a 6.25% per annum coupon, the filing added.

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