This article is from the Australian Property Journal archive
SINGPORE’S GIC has completed the purchase of an additional 24% interest in the Dexus Australian Logistics Trust (DALT), increasing its total stake to 49%.
DALT is an open-ended unlisted trust, seeded with assets from Dexus’s existing industrial portfolio and a development landbank. The additional investment is priced at $366.1 million, consistent with the 31 December 2019 independent valuations across the core Dexus industrial portfolio.
Dexus will utilise the proceeds to further strengthen its capital position, resulting in $1.3 billion of cash and committed undrawn debt facilities.
