DGAP-Adhoc: Dexus Finance Pty Limited: Dexus and DWPF enter into implementation agreement with ADPF
Dexus Finance Pty Limited: Dexus and DWPF enter into implementation agreement with ADPF
17-March-2021 / 04:03 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Dexus (ASX: DXS)
Dexus and DWPF enter into implementation agreement with AMP Capital Diversified Property Fund
Dexus today announced that along with the Responsible Entity of Dexus Wholesale Property Fund ( DWPF ), it has entered into an Implementation Agreement ( IA ) with the Independent Board Committee of AMP Capital Diversified Property Fund ( ADPF ) on behalf of the Responsible Entity of ADPF ( ADPF RE ).
By Reuters Staff
1 Min Read
March 16 (Reuters) - Australian real estate developer Dexus said on Tuesday it had struck a deal to merge one of its funds with a A$5 billion ($3.88 billion) diversified real estate investment fund run by AMP Capital.
The company said unit holders of its A$10.1 billion Dexus Wholesale Property Fund and the AMP Capital Diversified Property Fund were expected to vote on the merger in late April. ($1 = 1.2900 Australian dollars) (Reporting by Shashwat Awasthi in Bengaluru; Editing by Leslie Adler)
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Sunsuper cuts property mandate with AMP Capital
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Super fund Sunsuper has withdrawn its mandate to manage around $1.5 billion in commercial property from AMP Capital, putting further pressure on the investment platform as it races to lock in a potentially transformative joint venture deal with New Yorkâs Ares Management.
Sunsuper is transferring its real estate mandate to Mirvac, the ASX-listed developer which, under the leadership of Susan Lloyd-Hurwitz, is keen to expand its growing funds management business.
Sunsuper, AMP Capital and Mirvac all declined to comment on the move but senior industry sources confirmed the switch is already underway.
Office landlords defy market conditions with new lease deals
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Leading office landlords are defying the pandemic-hit market with a swathe of new lease deals in the premium-grade echelon, albeit with higher incentive packages to entice tenants to get workers to return to the city-based properties.
AMP Capital, Dexus and Investa have all inked new deals in the past few months, with directors saying demand for premium-grade towers is buoyant.
AMP Capital s Quay Quarter Tower at Sydney s Circular Quay.
Leasing agents have said incentives in rent contracts stand at an average of 22-30 per cent across city-based assets.