Dexus Finalizes $2 Billion Divestment Program Ahead of Schedule

Dexus Finance Pty Limited has completed a significant divestment initiative ahead of its FY27 target, with the recent sale of three office properties for $715 million. This achievement pushes the company beyond its goal of $2 billion in divestments by the end of FY27. The CEO of Dexus, Ross Du Vernet, emphasized the disciplined approach to capital management exhibited through these transactions. The sales highlight the attractiveness of Dexus's property portfolio despite challenging market conditions.

The properties sold include 30-34 Hickson Road and 36 Hickson Road in Sydney, as well as 123 Albert Street in Brisbane. The sales prices closely align with the independent valuations as of June 2026. Settlements are anticipated in October 2026, pending certain conditions including FIRB approval. Upon settlement, about 67% of proceeds will be received immediately, with the rest deferred over 30 months at a 6.25% annual coupon. These transactions are expected to lower Dexus's gearing by approximately two percentage points.