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DEXUS Property Group (ASX:DXS) has inked a deal to divest its remaining US industrial property for $US56.2 million.
The property investor’s CEO Darren Steinberg has described the transaction as an excellent result which in line with the company’s strategy of exiting the US market.
The news comes after DEXUS announced the sale of the majority of its US industrial property portfolio for $US561 million at the end of 2012.
Settlement of the last US asset sale, known as Glendale located in Los Angeles, is expected to occur on April 17, 2013.
DEXUS offshore exposure has now been reduced to 0.5 per cent and the company now expects to focus on its core Australian properties.
DEXUS Property Group reported a net profit of $267 million in the first half of the 2013 financial year.
News: DEXUS divests remaining US property
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