“Days before the end of the 2024 financial year, Dexus sold out of a stake in Sydney’s 5 Martin Place that it owned jointly with Canada Pension Plan Investment Board for $310 million after an extended negotiation period, 34 per cent less than the building’s peak value.”[1]
“Dexus, one of the biggest landlords, indicated values across its entire office portfolio would be written down by more than 11 per cent over the past six months.”[2]
[1] Kwan, Campbell, “Office funds post their worst performance since GFC”, Australian Financial Review, 16Jul2024
[2] Ibid