National Pension Service of Korea Partners with Dexus Property Group
Asian public investors continue to see value in Australian institutional real estate. The National Pension Service of Korea has agreed to co-invest $360 million AUD for 50% ownership in thirteen industrial properties in Australia with Dexus Property Group. The properties are at the Quarry in Greystanes, Sydney, the DEXUS Industrial Estate in Laverton North, Melbourne, and the Target facility at Altona, Melbourne. Dexus Property Group is a publicly-traded Australian real estate company.
The Korean pension system has the option to partner 50% of the future development pipeline at the Quarry and Laverton at the current market value.