Dexus completes acquisition of MLC Centre for $800 million
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Apr 1, 2019
Dexus completes acquisition of MLC Centre for $800 million
Dexus and Dexus Wholesale Property Fund has announced the settlement of the acquisition of the remaining 50% of the MLC Centre, Sydney for $800 million
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SavillsSydney's MLC Centre
Real estate investment trust Dexus has completed its acquisition of Sydney's iconic MLC building.
Dexus and Dexus Wholesale Property Fund announced the settlement of the remaining 50% for $800 million in a statement released on Monday.
Details relating to the transaction were previously announced to the Australian Securities Exchange (ASX) on 12 March 2019.
The remaining 50 per cent was acquired from The GPT Group, who sold the share at a 3 per cent premium to GPT's valuation of their half of the property.
The building comprises of 66,900 square meters of office space, 10,600 square metres of retail space and 308 car parks.
Dexus and Dexus Wholesale Property Fund now own 25 per cent each of the remaining 50 per cent of the tower.
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