Dexus’ own shopping centre fund vetoes $450m Melbourne mall purchase
Dexus’ attempts to buy a major suburban Melbourne retail asset have been torpedoed by its own fund after the vehicle’s independent board baulked at paying $450 million for the Woodgrove Shopping Centre.
The unusual situation has left Dexus, one of the country’s largest real estate owners, scrambling to find a different way to finalise the deal as unsuccessful bidders line up to make a second play for the centre.
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