News: DXS Dexus Property says to acquire North Sydney office development site

Feb 11 (Reuters) - DEXUS Property Group (DXS) :

• Dexus and dwpf acquire North Sydney office development site (DXS)
• Says jointly entered into an agreement to each acquire a 50% interest in 90 and 100 mount street in North Sydney
• Initial acquisition price of $41.0 million
• Anticipated total development cost including the initial acquisition price is $467.5 million
• Says development is expected to commence in July 2016
• Says acquisition will have no impact on dexus's FFO per security or distribution per security guidance for FY 2016
• Says will fund its share of the initial acquisition price through debt facilities