News: DXS Dexus Establishes JV With GIC For Wholesale Logistics Trust

Nov 26 (Reuters) - Dexus (DXS) :

• ANNOUNCES ESTABLISHMENT OF A NEW CIRCA $2 BILLION UNLISTED TRUST WITH GIC
• TRUST WILL INVEST IN AUSTRALIAN LOGISTICS PROPERTIES
• TRANSACTION IS EXPECTED TO HAVE AN IMMATERIAL IMPACT ON DEXUS'S AFFO AND DISTRIBUTION PER SECURITY IN FY19
• NEW UNLISTED VEHICLE TO BE KNOWN AS DEXUS AUSTRALIAN LOGISTICS TRUST
• MAINTAINS ITS MARKET GUIDANCE FOR FY19 OF DISTRIBUTION PER SECURITY GROWTH OF CIRCA 5%
• JV WILL BE HAVE ASSETS FROM DEXUS'S EXISTING INDUSTRIAL PORTFOLIO WITH $1.4 BILLION OF CORE LOGISTICS PROPERTIES & $138 MILLION DEVELOPMENT LANDBANK
• DEXUS'S THIRD PARTY ASSETS UNDER MANAGEMENT WILL INCREASE TO $14.3 BILLION
• GIC WILL TAKE A 49% INTEREST IN THE DEVELOPMENT LANDBANK AND FUND ITS SHARE OF DEVELOPMENT SPEND
• IN ITS DIRECT PORTFOLIO, DEXUS WILL RETAIN ITS EXISTING INTERESTS IN SEVEN INDUSTRIAL ASSETS VALUED AT $611 MILLION

Source ( http//reut.rs/2AjTcpa)

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