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Dexus Prop and DWPF Acquires Remaining Interest in MLC Centre

12 Mar 2019  |  20:00:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Dexus and DWPF acquire remaining interest in MLC Centre

Dexus ("Dexus") and Dexus Wholesale Property Fund ("DWPF") announced on 12 March 2019, that they have entered into an agreement to jointly acquire the remaining 50% interest in the MLC Centre, 19 Martin Place, Sydney. Dexus and DWPF will each acquire an additional 25% interest in the property for a total price of A$800.0m. The MLC Centre is a quality A-grade property comprising 66,900 square metres of office space, 10,600 square metres of retail space and 308 car spaces. Dexus is committed to maintaining a conservative and prudent capital structure. Dexus will fund its share of the acquisition through debt and will concurrently launch a fully underwritten offering of A$425m Guaranteed Exchangeable Notes ("Notes") due June 2026.

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