BRIEF-Dexus Property updates on sale of 36 George Street, Burwood

Published 29/09/2015, 03:28 pm
© Reuters.  BRIEF-Dexus Property updates on sale of 36 George Street, Burwood

Sept 29 (Reuters) - DEXUS Property Group DXS.AX :

* Sale of 36 George street, burwood, at premium to book value DXS.AX

* Dexus office partnership has entered into an agreement

* Says settlement is expected to occur on 23 November 2015

* Gross sale proceeds of $95 million reflect a $29 million or 44% premium to book value

* Says net sale proceeds will be used to repay debt

* Dexus reiterates its guidance for the 12 months ending 30 June 2016 for 5.5-6.0% growth in FFO per security

* Distributions will be paid in line with free cash flow which is expected to deliver growth in distribution per security of 5.5-6.0% for 12 months ending 30 June 2016

* Source text for Eikon ID:nASX9GdwBh

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