Dexus see $405m uplift across their portfolio

Company News

by Rachael Jones

Real Estate Investment Trust Dexus (ASX:DXS) today announced external independent valuations have resulted in a total estimated $405 million or 3.1 per cent 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.

The MLC Centre in Sydney increased by $27.8 million as a result of increased market rents from recent leasing activity and a 12.5 basis point tightening in the capitalisation rate of the office tower component.

The almost complete development in North Sydney increased by $33.1 million.

108 of its 112 assets, comprising 46 office properties and 62 industrial properties have been externally valued as at 31 December 2018.

Dexus is an Australian Real Estate Investment Trust that invests in, develops, manages and trades Australian office and industrial property.

Shares in Dexus (ASX:DXS) 1.91 per cent higher at $11.19.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.