Dexus Real Estate Partnership 1 Secures Initial Investments
November 3, 2021 – Dexus announced that it has secured the first three investments for Dexus Real Estate Partnership 1 (DREP1 or the Fund).
DREP1 is the first in a series of closed-ended opportunity funds that seek to provide wholesale investors with an enhanced return via exposure to investments in value-add, development and credit opportunities.
The investments include an office development in Richmond, Victoria; an industrial development at 149 Orchard Road, Chester Hill, NSW in 50/50 co-investment with Dexus; and a circa $70 million senior construction finance facility in 50/50 co-investment with Solido Capital.
Dexus CEO, Darren Steinberg said: “The acquisition of these investments demonstrates Dexus’s appetite to originate and secure return-enhancing opportunities for DREP1, including investing throughout the capital structure. Our funds continue to benefit from leveraging our full service platform, originating new opportunities to deliver enhanced returns.”
Deborah Coakley, Executive General Manager, Funds Management said: “These investments have the potential to provide the Fund with attractive risk adjusted returns from return-enhancing opportunities our DREP1 investors are seeking. The Fund continues to attract strong investor interest and we look forward to delivering future opportunities.”
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