DEXUS Property Group
(ASX:DXS) is set to acquire the Waterfront Place office tower and Eagle Street Pier in Brisbane’s CBD for $635 million.
The real estate investor has inked a deal to buy a 50 per cent stake in each asset from fellow property group Stockland Limited
(ASX:SGP).
The tower and pier are owned by Stockland and the Future Fund who is also divesting its stake.
Dexus CEO Darren Steinberg says the acquisition is an excellent long term core investment and builds on the group’s presence in the Brisbane central business district office market.
DEXUS Property Group reported a net profit of $258 million in the first half of the 2015 financial year.
