ASX-listed fund manager and landlord Dexus has sold a 26-storey office tower in Sydney’s CBD to a Hong Kong private equity player for $393.1 million, a price that represents a 17.2 per cent discount to its book value.
Heavily anticipated, the sale of 44 Market Street to Hong Kong’s PAG will send a strong signal across the office tower sector of where values are headed.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
