This would increase GIC’s total investment in DALT to 49 per cent.
DALT is an open-ended unlisted trust with an active acquisition and development mandate, seeded with assets from Dexus’s existing industrial portfolio and a development landbank.
The additional investment is priced at $366.1 million, consistent with the estimated 31 December 2019 independent valuations across the core portfolio. Settlement is expected to occur on 1 April 2020.
Shares in Dexus (ASX:DXS) trading 0.2 per cent lower at $11.89.