(Adds share moves in paragraph 2, details in paragraphs 3-6)
June 27 (Reuters) - Australian real estate firm Dexus (DXS) said on Thursday it would sell three assets, including its 25% stake in Sydney office building 5 Martin Place, for combined proceeds of A$383.2 million ($254.67 million).
Shares of the company fell as much as 4.1% and were on track for their worst day since Oct. 25, 2023.
Dexus said its 25% interest in 5 Martin Place was valued A$148.1 million. The stake is part of a 50% holding jointly held with Canada Pension Plan Investment Board, according to local media reports.
The property is a premium grade office building with a weighted average lease expiry of 2.9 years and occupancy of 97%, as of May 31.
Dexus said it would use the proceeds initially to repay its debt.
Last week, the company flagged a decline in the book value of its portfolio for the six months to June-end, indicating an acceleration in the downturn in office real estate.
($1 = 1.5047 Australian dollars)
News: DXS UPDATE 1-Australian real estate firm Dexus to sell three assets for $255 mln
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Last
$7.28 |
Change
-0.025(0.34%) |
Mkt cap ! $7.851B | |||
| Open | High | Low | Value | Volume |
| $7.26 | $7.30 | $7.26 | $1.411M | 194.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 4668 | $7.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.28 | 12726 | 15 |
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| DXS (ASX) Chart |