Dexus Industria REIT completed the acquisition of 50% stake in 12 Church Street, Moorebank, NSW.
October 25, 2021
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Dexus Industria REIT (ASX:ADI) agreed to acquire 50% stake in 12 Church Street, Moorebank, NSW for approximately AUD 22 million on October 13, 2021. The property will be acquired in joint venture with Dexus (Industria 50%; Dexus 50%), and Industria's share of the acquisition costs, including stamp duty, will be approximately AUD 22 million. The acquisition incorporates a development opportunity, which is anticipated to complete in mid-2024, and will deliver approximately 34,000 square meters of multi-level warehousing across 15 to 20 units. Industria's share of the development costs is approximately AUD 40 million. The transaction will be funded by existing debt capacity. Settlement of the transaction is anticipated to occur on or around October 25, 2021.
Dexus Industria REIT (ASX:ADI) completed the acquisition of 50% stake in 12 Church Street, Moorebank, NSW on October 26, 2021.
Dexus Industria REIT (DXI) is an Australia-based real estate investment trust (REIT). The Trust is primarily engaged in investing in industrial warehouses located across Sydney, Melbourne, Brisbane, Perth and Adelaide. The Trustâs investment property portfolio consists of approximately 91 properties valued at $1.4 billion and is located across the major Australian cities. It has a target gearing range of 30 - 40%. Its properties include 12 Church Road, Moorebank; 1-3 Westrac Drive, Newcastle; 7 Clunies Ross Court and 17-19 McKechnie Drive, Eight Mile Plains; 8 Clunies Ross Court and 9 McKechnie Drive, Eight Mile Plains; 18 Brandl Street, Eight Mile Plains; 37 Brandl Street, Eight Mile Plains; 88 Brandl Street, Eight Mile Plains; Brisbane Technology Park, Central, Eight Mile Plains; 9 Boron Street, Narangba; 60 Grindle Road, Wacol; 5 Butler Boulevard, Adelaide Airport; 5b Butler Boulevard, Adelaide Airport, and 45-65 O'Briens Road, Corio. Its manager is Dexus Asset Management Limited.