ASX-listed Dexus has struck a joint venture deal with Singaporean sovereign wealth fund GIC snapping up a half share in Melbourne CBD’s Rialto Towers, stirring confidence in the office tower market.
Dexus, Australia’s largest office building landlord, exchanged contracts to acquire a 50 per cent interest in the Rialto Towers in Melbourne’s CBD for $644 million.
GIC will hold a 90 per cent share in the joint venture and Dexus will hold the remaining 10 per cent, with the Collins Street purchase owned alongside the family owned Grollo Group.
Click HERE to read to full article published by The Urban Developer on 06 April 2020.
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