Ad hoc-Mitteilungen

Ad hoc: Dexus Finance Pty Limited: September 2021 quarter update - Platform expansion in line with strategy

DGAP-Ad-hoc: Dexus Finance Pty Limited / Key word(s): Real Estate/Quarter Results Dexus Finance Pty Limited: September 2021 quarter update - Platform expansion in line with strategy 19-Oct-2021 / 01:28 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.


Dexus (ASX: DXS)

ASX release

19 October 2021

September 2021 quarter update - Platform expansion in line with strategy

Dexus today announced an update for the quarter ended 30 September 2021 which saw the continuation of COVID-19 lockdowns in Sydney and Melbourne and acceleration of the COVID-19 vaccine roll out, with restrictions easing recently.

Darren Steinberg, Dexus CEO said: "It's been an active start to the financial year, in which we have continued growth in our funds management business. We finalised the acquisition of APN Property Group and helped to deliver significant initiatives for both listed REITs through acquisitions and equity raisings.

"Despite the disruption caused by the lockdowns in Sydney and Melbourne, leasing activity has continued across our portfolio and occupancy remains above 95%. Continued evidence of a flight to quality within our leasing results highlights the demand for quality workspace in well-located CBD assets."

  • Following the approval by APN securityholders, Dexus implemented the acquisition of all the APN stapled securities on 13 August 2021 and rebranded to Dexus on 5 October 2021
  • Undertook equity raisings of circa $405 million for Dexus Industria REIT (Industria) and Dexus Convenience Retail REIT (DXC), facilitating quality acquisitions with Dexus investing alongside Industria to acquire a $1.5 billion[1] industrial portfolio and achieve transformational growth for Industria
  • Completed 95 leasing transactions[2] across 129,043 square metres in the Dexus office portfolio and Dexus industrial portfolio, and maintained high rent collections of 97.9% for the September quarter
Funds Management

  • In Melbourne, securing two new customers across 10,858 square metres at 180 Lonsdale Street
  • In Perth, securing leasing across 2,141 square metres at 240 St Georges Terrace
  • In Sydney, renewing a customer across 3,139 square metres at 383-395 Kent Street and securing leasing across 8,575 square metres at 100 Harris Street, Pyrmont
The lockdowns have extended for longer than anticipated back in early August, however enquiry volumes have remained buoyant, predominantly driven by the finance, government, IT and business services sectors. The path to recovery is clearer, with the return to work expected to gain momentum from early CY22. In addition, during the quarter a number of customers were secured from lower quality buildings, a continuation of the trend observed in FY21. While companies will continue to experiment with different workplace models, the majority see the office as a very important part of their organisational strategy.

  • Renewing a tenant across 27,612 square metres at Kings Park Industrial Estate, Marayong
  • Securing a new tenant across 3,761 square metres at 1 Foundation Place, Greystanes
  • Securing development leasing of 6,099 square metres at 12 Frederick Street, St Leonards
Development and Trading


Information and Explanation of the Issuer to this News: About Dexus


19-Oct-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de


Language: English
Company: Dexus Finance Pty Limited
264 George Street
2193 Sydney
Australia
Phone: +61 2 9017 1100
Fax: +61 2 9017 1101
E-mail: ir@dexus.com
Internet: www.dexus.com
ISIN: XS1961891220
WKN: A2RZHG
Listed: Regulated Unofficial Market in Frankfurt
EQS News ID: 1241643
 
End of Announcement DGAP News Service

1241643  19-Oct-2021 CET/CEST

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