Australian real estate investment trust Dexus is selling three office buildings, including 5 Martin Place, for a combined total of A$383.2m (€239m).
Dexus Office Partnership sold its 50% interest in 5 Martin Place in Sydney to Cbus Property for A$296.2m, in which Dexus’s 25% share represents A$148.1m.
Dexus declined to disclose the buyers of two other buildings in Paramatta in Sydney’s West and South Brisbane which were sold for A$69.1m and A$17.9m respectively.
Sale proceeds will initially be utilised to repay debt. These divestments continue Dexus’s asset recycling initiatives, with further market updates expected as transactions materialise.
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