Online Stockmarket Trading Update

DEXUS Property Group (DXS)  announced the sale of its 70,100 square metre Toronto warehouse facility for C$78.7 million.

DEXUS Chief Executive Officer, Victor Hoog Antink commented: “The sale price achieved represents excellent value for DEXUS investors in a market environment which is seeing demand push asset values to historical highs. The C$78.7 million sale represents a 13% premium to the December 2010 book value of C$69.4 million, a 10% premium to the original cost price of the property and a selling yield of 5.9%.”

DEXUS is one of Australia’s leading property groups specialising in world-class office, industries and retail properties with total assets under management of $13.6bn. In Australia, DEXUS is a market leader in office and industrial and, on behalf of third party clients, a leading manager and developer of shopping centres.

www.dexus.com

http://www.traderdealer.com.au/fundamentals/dxs

Tags: Asset Sale, Dexus Property, DXS, Property Investment

This entry was posted on Thursday, June 30th, 2011 at 6:23 am and is filed under ASX Company News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.