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.