Dexus establishes joint venture with GIC for wholesale logistics trust

Company News

by Anna Napoli

Real Estate Investment Trust, Dexus (ASX:DXS) says its established a new circa $2 billion wholesale unlisted logistics trust with GIC.

The unlisted trust will invest in Australian logistics properties.

The Joint Venture will be seeded with assets from Dexus's existing industrial portfolio including $1.4 billion of core logistics properties and a $138 million development.

Dexus says the Joint Venture offers the ability to unlock the growth potential of the Dexus Industrial platform and increase third party assets under management to $14.3 billion.

The deal is subject to approval from the Foreign Investment Review board (FIRB).

Shares in Dexus (ASX:DXS) are trading 0.05 per cent lower to $10.45

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.