Dexus Industria REIT Announces Acquisition of Quality Asset and Settlement of Jandakot
November 21, 2021 at 05:35 pm EST
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Dexus Industria REIT (Industria) announced that it has exchanged contracts to acquire 9 Boron Street, Narangba, QLD and has settled on the acquisition of its 33.3% interest in Jandakot Airport, Perth WA. The Narangba property has been secured for $44.5 million, reflecting an attractive initial passing yield of 5.3%, and is 100% leased to Sandvik Australia Holdings Pty Ltd, a subsidiary of the Swedish multinational engineering company Sandvik founded in 1862. It includes an 11,840 square metre modern warehouse facility across 36,800 square metres of land, reflecting low site coverage of 32%, and providing potential scope to add value over the medium term. Industria has also settled on the acquisition of its 33.3% interest in Jandakot Airport, Perth for $298 million, comprising a high-quality industrial portfolio of 49 properties and approximately 80 hectares of developable land. Details relating to this transaction and Industria's recent equity raising were previously announced to the Australian Securities Exchange on 23 September 2021. Settlement of the Narangba transaction is expected to occur in early December 2021, and there is no change to FY22 FFO guidance.
Dexus Industria REIT (DXI) is an Australia-based real estate investment trust (REIT). The Company owns, manages, and develops industrial warehouses and business parks, and has invested in the operations of the Jandakot Airport industrial precinct. It is primarily focused on investing in properties located in Australia. The Companyâs property portfolio comprises interests in approximately 93 properties located across Sydney, Melbourne, Brisbane, Perth, and Adelaide. Its properties include 56 Berry Street, North Sydney; 100 Mount Street, North Sydney; 101 George Street, Parramatta; 130 George Street, Parramatta; 100-130 Harris Street, Pyrmont; One Margaret Street, Sydney; Pitt Street Precinct, Sydney; 33 Alfred Street, Sydney; 1 Bligh Street, Sydney; 60 Castlereagh Street, Sydney; 309-321 Kent Street, Sydney; 14-18 Lee Street, Sydney; 44 Market Street, Sydney; 5 Martin Place, Sydney; 25 Martin Place, Sydney, and 175 Pitt Street, Sydney.
DEXUS INDUSTRIA REIT 
