Dexus Convenience Retail REIT (the Fund) is an Australian real estate investment trust, which owns Australian service stations and convenience retail assets. The Fund's portfolio is valued at approximately $781 million, is predominantly located on Australia's eastern seaboard and leased to Australian and international convenience retail tenants. The portfolio has a long weighted average lease expiry and contracted annual rent increases, providing a high level of income security. The Fund has a conservative approach to capital management with a target gearing range of 25-40%. The Fund consists of three registered managed investment schemes domiciled in Australia: Convenience Retail REIT No. 1, Convenience Retail REIT No. 2 and Convenience Retail REIT No. 3. The Fund's manager is Convenience Retail Management Pty Ltd.
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