DGAP-Adhoc: Dexus Finance Pty Limited: Transition of Australian Mandate

DGAP-Ad-hoc: Dexus Finance Pty Limited / Key word(s): Real Estate 
Dexus Finance Pty Limited: Transition of Australian Mandate 
 
03-March-2020 / 23:53 CET/CEST 
Disclosure of an inside information acc. to Article 17 MAR of the Regulation 
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
*Dexus (ASX: DXS)* 
 
*ASX release* 
 
*4 March 2020* 
 
*Transition of Australian Mandate* 
 
Dexus advises it will cease the management of the Australian Mandate, 
comprising a $1.6 billion property portfolio from 30 June 2020. 
 
The diversified Australian Mandate comprises properties managed by Dexus on 
behalf of NSW Treasury Corporation ("TCorp") for more than 30 years, and 
TCorp remains a long-term investor on the platform via other vehicles. 
 
The Australian Mandate has achieved outperformance versus benchmark over 1, 
3, 5, 7 and 10 years[1]. 
 
Dexus's funds management business has achieved significant growth since FY12 
and has recently attracted new like-minded partners such as GIC and M&G Real 
Estate to invest alongside through the cycle. 
 
There are currently several opportunities in the pipeline for Dexus to 
onboard investors with open investment periods and growth strategies. 
 
The transition of the Australian Mandate is expected to have no impact on 
either Dexus's Adjusted Funds From Operations or distribution per security 
in FY20, with market guidance[2] of distribution per security growth 
maintained at circa 5.5% for the 12 months ended 30 June 2020. 
 
_Authorised by Brett Cameron, General Counsel and Company Secretary of Dexus 
Funds Management Limited._ 
 
*For further information please contact:* 
 
*Investors *                    *Media * 
Jessica Johns                   Louise Murray 
Senior Manager, Investor        Senior Manager, Corporate 
Relations                       Communications 
[phone]                 [phone] 
[phone]                 [phone] 
[e-mail]         [e-mail] 
 
[1] MSCI Benchmark as at 31 December 2019. 
 
[2] Barring unforeseen circumstances, guidance is supported by the following 
assumptions: Impacts of announced divestments and acquisitions; FFO per 
security growth of circa 4%, underlying FFO per security growth of circa 4%, 
underpinned by Dexus office portfolio like-for-like income growth of 
4.5-5.5%, Dexus industrial portfolio like-for-like income growth (excluding 
one-offs) of 3-4%, management operations FFO of circa $60 million, cost of 
debt of mid-3%; trading profits of $35-45 million net of tax; maintenance 
capex, cash incentives, leasing costs and rent free incentives of $170-180 
million; and excluding any further transactions. 
 
Information and Explanation of the Issuer to this News: 
 
*About Dexus* 
 
Dexus is one of Australia's leading real estate groups, proudly managing a 
high-quality Australian property portfolio valued at $33.8 billion. We 
believe that the strength and quality of our relationships is central to our 
success and are deeply committed to working with our customers to provide 
spaces that engage and inspire. We invest only in Australia and directly own 
$16.8 billion of properties, with a further $17.0 billion of properties 
managed on behalf of third party clients. The group's $11.2 billion 
development pipeline provides the opportunity to grow both portfolios and 
enhance future returns. With 1.8 million square metres of office workspace 
across 55 properties, we are Australia's preferred office partner. Dexus is 
a Top 50 entity by market capitalisation listed on the Australian Securities 
Exchange (trading code: DXS) and is supported by 27,000 investors from 20 
countries. With 35 years of expertise in property investment, development 
and asset management, we have a proven track record in capital and risk 
management, providing service excellence to tenants and delivering superior 
risk-adjusted returns for investors. www.dexus.com 
 
*Download the Dexus IR app* 
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access to the latest stock price, ASX Announcements, presentations, reports, 
webcasts and more. 
 
Dexus Funds Management Ltd ABN 24 060 920 783, AFSL 238163, as Responsible 
Entity for Dexus (ASX: DXS), Level 25, 264 George Street, Sydney NSW 2000 
 
03-March-2020 CET/CEST The DGAP Distribution Services include Regulatory 
Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
Language:    English 
Company:     Dexus Finance Pty Limited 
             264 George Street 
             2193 Sydney 
             Australia 
Phone:       [phone] 
Fax:         [phone] 
E-mail:      [e-mail] 
Internet:    www.dexus.com 
ISIN:        XS1961891220 
WKN:         A2RZHG 
Listed:      Regulated Unofficial Market in Frankfurt 
EQS News ID: 989107 
 
End of Announcement DGAP News Service 
 
989107 03-March-2020 CET/CEST 
 
 

(END) Dow Jones Newswires

March 03, 2020 17:53 ET (22:53 GMT)