Dexus Establishes New Joint Venture To Acquire Interest In Rialto Towers, Melbourne
April 6, 2020 — Dexus today announced the establishment of a new Joint Venture (“JV”) with GIC that has exchanged contracts to acquire a 50% interest in Rialto Towers, 525 Collins Street, Melbourne, for $644 million1.
GIC will hold a 90% share in the JV and Dexus will hold the remaining 10%. Dexus is the investment manager of the JV and has been appointed as the manager of the entire Rialto Towers complex.
The establishment of the JV and acquisition of Rialto Towers is consistent with Dexus’s strategic objective of being a wholesale partner of choice, providing the group with a breadth of capital sources through economic cycles.
Read more here..