Dexus
(ASX:DXS) has entered into an agreement to buy two Sydney office buildings, while it is also conducting due diligence to buy a core industrial Melbourne property.
The three acquisitions are expected to total $739.3 million
The real estate group will buy a 50 per cent interest in the MLC Centre and a 100 per cent holding in the heritage building at 100 Harris Street, Pyrmont.
The company says if the purchases proceed, it will be undertaking an equity raising, including a $500 million underwritten institutional placement and a $50 million share purchase plan. Dexus will also be using up to $288.6 million of its existing debt facility,
The company says the deals expand its exposure to Australia’s largest office market, while it will capture growth opportunities through rentals and leasing.
Dexus shares are in the trading halt.
