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23 stories mentioning ASX:DXSUpdated 22h ago

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Asia

Dexus Says Office Portfolio Occupancy Improved in March Quarter

Dexus (ASX:DXS) said its office portfolio occupancy improved by 90 basis points during the March quarter to just over 93%, above the market average of roughly 85%, after leasing agreements in Melbourne and Sydney, according to a Tuesday filing with the Australian bourse.The company also said its industrial portfolio occupancy rate is high at nearly 97%, but remains more than 7% under-rented, creating an opportunity to boost income by resetting rents on upcoming lease expiries, per the filing.Dexus reiterated its forecast for adjusted funds from operations of AU$0.445 to AU$0.455 per security and distributions of AU$0.37 per security for the 12 months through June.The company's shares fell past 2% in recent Tuesday trade.

ASX:DXS
Asia

Dexus Secures JV With Boral for Major Ravenhall Logistics Precinct in Melbourne

Dexus (ASX:DXS) has entered a joint venture (JV) with Boral (ASX:BLD) to develop a large-scale logistics precinct in Ravenhall, Melbourne's western corridor, spanning 630 hectares and targeting up to 2.5 million square meters of lettable space, subject to rezoning and regulatory approvals, according to a Tuesday Australian bourse filing.The JV structure gives the company and other capital partners a combined 50% stake, while Boral retains the remaining 50%, with the project developed in staged superlots and supported by substantial third-party capital to enhance capital efficiency, per the filing.The company will oversee rezoning, development, and management, with limited short-term financial impact, while management fees will begin as each stage of investment is completed, the filing added.

ASX:BLDASX:DXS
Asia

Australian Unity Office Fund Secures FIRB Approval for AU$40 Million Brisbane Asset Sale

Australian Unity Office Fund (ASX:AOF) confirmed receipt of Foreign Investment Review Board (FIRB) approval for the proposed AU$40 million sale of 150 Charlotte Street, Brisbane to a fund managed by Dexus (ASX:DXS), satisfying a key condition precedent to the transaction, according to a Wednesday Australian bourse filing.The sale remains subject to approval from the company's unit holders, and the company's responsible entity, Australian Unity Investment Real Estate (AUIREL) has issued an explanatory memorandum for an extraordinary general meeting scheduled for May 8 to seek such approval, per the filing.The broader proposal includes the disposal of AOF's main undertaking, the cessation of its real estate investment business, the distribution of proceeds to unit holders, the delisting from the Australian Securities Exchange, and the eventual wind-up of the fund, the filing said.The directors of AUIREL unanimously recommend that the company unit holders vote in favor of the proposal, unless a superior proposal emerges, the filing added.Australian Unity Office Fund's shares gained about 1% in recent Wednesday trade.

ASX:AOFASX:DXS

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