Dexus's (ASX:DXS) DALT acquires two industrial assets

Company News

by Rachael Jones

Dexus (ASX:DXS) today announced that the Dexus Australian Logistics Trust, in which Dexus holds a 51 per cent interest, has exchanged contracts to acquire two quality industrial properties.

The properties are 37-39 Wentworth Street, Greenacre in NSW and the Ford Facility at Merrifield Business Park, Mickleham in Victoria which have been acquired for a combined price of $173.5 million, (Dexus share $88.5 million).

Greenacre is a modern cold store and ambient facility leased to Real Dairy Australia and Tomkin.

Merrifield is a brand new prime grade logistics facility currently being developed for Ford Australia as their national distribution centre for spare parts.

The acquisitions follow the completion or exchange of more than $1.6 billion of property acquisitions across the group during FY20.

Shares in Dexus (ASX:DXS) are trading 0.11 per cent higher at $9.40.

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.