You are here

Dexus, Canada fund buy A$2.8b trust

They will take over Commonwealth Bank of Australia's listed office trust

Rising values: Dexus raised the bid because recent valuations pushed up the values of some Sydney properties and had an impact on NTA, said Winston Sammut, managing director at Maxim Asset Management. - PHOTO: BLOOMBERG

[SYDNEY] Dexus Property Group, Australia's biggest listed office landlord, and the Canada Pension Plan Investment Board reached an agreement with Commonwealth Bank of Australia to buy the bank's listed office trust for A$2.83 billion (S$3.3 billion). Dexus and the Canadian fund increased their