Future Fund and DEXUS Create Industrial Development JV
Posted on 06/21/2014
DEXUS Property Group, an Australian real estate group, has teamed up with Australia’s Future Fund to create a new partnership (50:50) called the DEXUS Industrial Partnership. The partnership will be seeded with the purchase of Quarrywest at Greystanes, consisting of 25.64 hectares of industrial development in Western Sydney. The land is located on Reconciliation Road and sits opposite of Quarry at Greystanes, an industrial state owned by DEXUS and another partner.
DEXUS has worked with a number of large institutional investors. In 2014, the Canada Pension Plan Investment Board (CPPIB) committed US$ 1.5 billion and invested 50% in joint bid trust called DEXUS Office Trust Australia, which acquired 100% of the units in the Commonwealth Property Office Fund (CPA).
