Dexus today announced that 108 of its 112 assets, comprising 46 office properties and 62 industrial properties have been externally valued as at 31 December 2018.
The external independent valuations have resulted in a total estimated $405 million or circa 3.1% increase on prior book values for the six months to 31 December 2018. As a result of these valuations, Dexus’s net tangible asset backing (NTA) per security is expected to increase 40 cents.
Darren Steinberg, CEO of Dexus said: “From a capital perspective we are still seeing strong transactional activity and demand for quality properties across the key Australian capital cities driven by global and domestic capital seeking real assets with solid income streams. Taking this dynamic into account along with the current yield spread over the bond rate we believe there is still an opportunity for capital values to increase further over the next 12 months.”
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